Future Generali Life - Bima Advantage Plus - Future Income Fund

1. A unique combination of protection and investment that helps fulfil your medium to long term financial goals.
2. Helps maximize your returns by investing in a choice of 7 investment funds to match your risk appetite.
3. Flexibility to choose policy term, sum assured and other optional features like switching, re-direction & partial withdrawals.
4. Premium(s) paid are eligible for tax benefit as may be available under the provisions of Section(s) 80C and 10(10D) as applicable.

Minimum Sum Assured
Age < 45 yrs: 10 x Annualised Premium
Age >= 45 yrs: 7 x Annualised Premium
Maximum Sum Assured(as a multiple of Annual Premium)
7 to 44 years 25
45 to 54 years 15
55 to 65 years Same as Minimum Sum Assured

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
1. Sum Assured less Deductible Partial Withdrawal, if any or
2. Fund Value or
3. 105% of basic premiums paid till date of death less deductible partial withdrawals, if any.
Deductible partial withdrawals are
1. Partial withdrawals made in 2 years immediately prior to the date of death
Note:
1. On death of the life assured, the policy will be terminated by paying the death benefit.
2. Risk will commence immediately for minor lives.
3. If the life assured is a minor at the time of issuance of the policy and the proposer predeceases the life assured during the minority of the life assured, no immediate benefit will be payable. On the death of the Policyholder while the life assured is a minor, the policy may be continued by the appointment of a new Policyholder under the policy. However where a new policyholder is not available and / or the legal guardian(s) is not interested to continue the policy, then the policy proceeds would be paid to the Legal Representatives/Legal Guardian(s) of the Policyholder who would take out representation for the moneys under the policy from a Court of a State or Territory of the Union of India that the moneys will be utilized for carrying out day to day expenses /benefit of the minor. The policy proceeds in case of discontinuance of policy will be paid and the policy will be terminated thereafter.

If the policy holder 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 a 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. Note: Distance Marketing means insurance solicitation/lead generation by way of telephone calling/ Short Messaging Service (SMS)/Other Electronic modes like e-mail, internet & Interactive Television (DTH)/Direct Mail/ newspaper & magazine inserts or any other means of communication other than in person. If the Policy is opted through an Insurance Repository (IR), the computation of the
said Free Look Period will be as stated below:-
For existing e-Insurance Account: Computation of the said Free Look Period will commence from the date of the delivery of the e-mail confirming the credit of the Insurance Policy by the IR.
For New e-Insurance Account: If an application for e-Insurance Account accompanies the proposal for insurance, the date of receipt of the welcome kit from the IR with the credentials to log on to the eInsurance Account(e IA) or the delivery date of the email confirming the grant of access to the eIA or the delivery date of the email confirming the credit of the Insurance Policy by the IR to the eIA, whichever is later shall be reckoned for the purpose of computation of the Free Look Period.

Policy can be surrendered any time during the Policy Term. The Surrender Value will be Fund Value less Discontinuance Charge, if any, as mentioned below:
Surrender Before Completion of 5 Policy Years
If policy is surrendered before the completion of lock-in period of 5 policy years from the policy commencement date, the Surrender Value equal to Fund Value less applicable Discontinuance Charge will be kept in the Discontinued Policy Fund and no subsequent charges other than Fund Management Charges for discontinued policy fund will be deducted. The Surrender Value will accrue a minimum guaranteed return as specified by IRDAI, from time to time. Such accumulated Surrender Value will be paid immediately after completion of the lock-in period. In case of death of the Life Assured during this period, the proceeds will be payable to the nominee/ legal heirs as applicable.
Surrender After Completion of 5 Policy Years
If the policy is surrendered after the lock-in period, then the Surrender Value is the Fund Value at the prevailing NAV. It becomes payable immediately.

The premium allocation charge will be deducted from the premium amount at the time of premium payment and the remaining premium will be used to purchase units in various investment funds according to the specified fund allocation.
Year 1st: 9%
Year 2nd: 5%
Year 3rd onwards: 3%

Fund Management Charges are deducted on a daily basis at 1/365th of the annual charge in determining the unit price. The company may change the Fund Management Charges from time to time with prior approval from IRDAI.
Future Secure Fund 1.10% per annum
Future Income Fund 1.35% per annum
Future Balance Fund 1.35% per annum
Future Apex Fund 1.35% per annum
Future Opportunity Fund 1.35% per annum
Future Maximize Fund 1.35% per annum
Discontinued Policy Fund 0.50% per annum
Future Midcap Fund 1.35% per annum

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 less Deductible Partial Withdrawal) over Fund Value.

The maximum Policy Administration Charge will not exceed Rs.500/- per month. These 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 the policy by cancellation of units for equivalent amount.
Year 1: Nil
Year 2 onwards: 1.6% p.a.