Future Generali launches new ULIP - Future Freedom Plus

• Twin benefits of low premium allocation charges with higher investment in funds
• Helps build a larger savings corpus, with insurance protection
• Tenure choice (10-20 years), with limited and regular premium paying options
• Policy options: Gold - premium less than Rs 1 lakh, Platinum - Premium Rs 1 lakh and above
• Minimum sum assured – five times the annual premium
• Flexibility in reduction of premium payment from second year onwards without change in sum assured -Premium can be reduced to 75% of first year premium
• Most ULIPs offer reducing life cover while in our ULIP the Death benefit is uniform across the term of the plan i.e. - sum assured plus the fund value
• Introducing the new Future Dynamic Growth Fund option allows fund manager total freedom to maximize investment opportunity
• Additional options for top-ups, partial withdrawal, switches, surrender
• Accident riders – Death and Total Permanent disability
• No reduction of cover in case of partial withdrawal.

Future Generali India Life Insurance Company, the Insurance joint venture between Future Group of India and Generali Group of Italy today launched Future Freedom Plus, a long term insurance cum investment plan. ULIPs have primarily been the first choice of Indian investors with a conceptual understanding of markets and who are genuinely looking for a flexible, long-term savings cum insurance solution. This is a medium to long-term plan providing the benefit of low premium allocation charges, with higher investment in funds.

With the rising optimism in the stock markets, Future Freedom Plus is a great way to draw the returns of investing in equities, at a lower risk while enjoying insurance protection, thus introducing the new Future Dynamic Growth Fund with equity / debt exposure of up to 100% with a start up NAV of Rs 10. Future Freedom Plus allows customers to choose a limited or regular premium payment options on policy term ranging from 10 to 20 years, with three fund options to choose. The minimum sum assured is five times the annual premium and the minimum premium is Rs 25000. From the 2nd policy year, the policyholder can pay as low as 75 % of the first year premium without any reduction in the initial sum assured. In the event of demise of the policyholder, the sum assured will be paid over and above the fund value to the nominee. On maturity of the policy, the fund value will be paid as a lump sum or can be settled in annual installments for up to five years from the maturity date. Future Freedom Plus can be availed by persons aged 0-65 years, with options for top-ups, partial withdrawal, switches and surrender. Accidental death and permanent disability benefits can be availed as optional riders if the life assured is not a minor.

In keeping with their aim to introduce products that are simple and suitable to different customer needs, Future Freedom Plus is the latest offering from Future Generali’s basket of Total Insurance Solutions. The other differentiator of Future Generali is the Mallassurance™ channel – a unique & innovative delivery system with Insurance offerings across the Life and General Insurance categories through 163 Future Group retail outlets across the country.

Speaking on the occasion, Deepak Sood, CEO Designate, Future Generali India Life Insurance Company said, “The Indian insurance market has primarily been ULIPS driven and Future Freedom Plus is the best bet for customers who are looking for a convenient, economical and total investment cum insurance solution. The plan provides for a lower volatility component while offering the customer three different fund options to suit specific needs, with the added option of flexible payment terms. We believe it is excellently timed with the rise in positive market sentiments.” He further added, “We have had a good first half of FY 2009-10, well on target with our projected numbers and are looking to close the year with 20 percent of our overall premium being contributed by Future Freedom Plus.

Some of the salient features of Future Freedom Plus:

• Comes with two plan options - Gold plan option with annual premium less than Rs. One lakh and Platinum option with premium of Rs One lakh and above. Minimum premium is Rs. 25000.
• Provides for life cover till maturity of the policy, for terms ranging from 10 years to 20 years, with limited and regular premium paying options.
• Three fund options to choose from, including a new Future Dynamic Growth Fund offer with start up NAV of Rs 10 only.
• As against most ULIPs in the market providing reducing cover, the plan provides uniform cover through out the term of the policy. Sum Assured is available In the event of demise of the policyholder; nominee receives the sum assured over and above the Future Dynamic Growth Fund value.
• The plan comes with optional riders to further enhance life cover, viz. Accidental death benefit rider and Accidental total and permanent disability rider
• There are options for top-ups, partial withdrawal, switches and surrender.
• No reduction of life cover in case of partial withdrawals.

Future Generali is currently active through 93 branches across 84 cities and over 36,000 licensed advisors. Besides this large network of agents & branches, Future Generali also actively offers their Insurance solutions across 163 Future Group outlets.