Future Generali Life - Bima Advantage Plan - Future Income Fund

objectives
To provide stable returns by investing in assets of relatively low to moderate level of risk. The interest credited will be a major component of the fund s return. The fund will invest
primarily in fixed income securities, such as Government securities of medium to long duration and corporate bonds and money market instruments for liquidity.

Benefit
Maturity Benefit:
On maturity of the policy, the fund value as on the date of maturity is payable to the Life Assured. The Life Assured may also choose to receive the maturity benefit under Settlement Option.
Death Benefit:
In case of an unfortunate demise of the Life Assured during the Policy Term, while the policy is in force, the nominee receives the higher of:
Sum Assured less deductible partial withdrawal, if any or
Fund Value, or
105% of basic premiums paid till date of death

Entry Age (last birthday)
7 years to 65 years

Policy Term
10 years to 30 years

Sum Assured
Minimum Sum Assured
Age < 45 years: Max (10, 0.5 x Policy Term) x Annual Premium
Age >= 45 years: Max (7, 0.25 x Policy Term) x Annual Premium
Maximum Sum Assured (as a multiple of Annual Premium)
Age Maximum Multiple
7 years to 44 years 25
45 years to 54 years 15
55 years to 65 years Same as minimum Sum Assured

Free-Look Period:
If the Policyholder is not satisfied with the terms and conditions of the policy, he can apply in writing to Future Generali for cancellation of the policy within the Free-Look Period of 15 days (30 days, if the policy is sold through Distance Marketing) from the date of receipt of the policy document, stating the reason for objection. Future Generali will pay the Fund Value as on the date of cancellation plus non-allocated premium plus charges levied by cancellation of units less deduction for proportionate cost of insurance cover for the period and expenses towards policy stamp duty and medical examination, will be refunded.

Grace Period
A Grace Period of 30 days from the premium due date will be allowed for payment of yearly premium. The policy will remain in force during the Grace Period. Notice period is a period of 30 days from the receipt of notice that is sent to the Policyholder within 15 days after the expiry of Grace Period.

Fund Management Charge (% p.a.)
Future Secure Fund 1.10%
Future Income Fund 1.35%
Future Balance Fund 1.35%
Future Apex Fund 1.35%
Future Opportunity Fund 1.35%
Future Maximise Fund 1.35%
Discontinued Policy Fund 0.50%

Mortality Charge:
This shall be levied at the beginning of each policy month from the fund. Following are sample
Mortality Charges per Rs 1,000 sum at risk.
Age Mortality Charge
20 Years 0.98
25 Years 1.09
30 Years 1.17
35 Years 1.42
Mortality Charges are deducted on sum at risk which is calculated as excess of (Higher of Sum Assured less deductible Partial Withdrawal), 105% of premiums paid over Fund Value.

Policy Administration Charge:
Policy Year Charge as a % of Annual Premium
1st year Nil
2nd year onwards 1.6%
The maximum Policy Administration Charge will not exceed `6,000 p.a. The Policy Administration Charges are determined using 1/12th of the annual charges given above and are deducted from the unit account monthly at the beginning of each monthly anniversary of a policy by cancellation of units for equivalent amount.

Switching Charge:
Rs 100 per switch, is levied beyond the 12 free switches in a policy year. This charge is levied at the time of affecting the switch and will be deducted from the unit account by cancellation of units. The Switching Charges are subject to increase up to `250 per switch, subject to IRDAI approval.

Partial Withdrawal Charge:
Beyond the free withdrawals allowed in a policy year, a charge of `200 will be levied per withdrawal in each policy year.

Miscellaneous Charge:
This charge is levied for any alterations within the insurance contract, such as premium redirection and decrease in Sum Assured. The charge is expressed as a flat amount levied by cancellation of units. This charge is levied only at the time of alteration and is equal to Rs 250 per alteration.

General Exclusions:
No benefit will be payable in respect of any condition arising directly or indirectly through or in consequence of the following exclusions and restrictions.