All about Saral Anand Plan by Future Generali Life Insurance Company

The Saral Anand Plan by Future Generali Life Insurance Company an Endowment Plan that participates in the profits of the company and provides Guaranteed Additions. jeevan Saral Anand is basically a Traditional endowment plan that provides Bonus along with Guaranteed Additions.

While, the premiums for this plan, by Future Generali Life Insurance Company, are payable at least for a term of 15 years, the policy and the life cover continues till the policyholder attains 80 years of age.

This plan accumulates Guaranteed Additions equal to 3.5 per cent of Sum Assured per annum for first five years of the policy. From the sixth year, the plan starts to accrue Compound Reversionary Bonuses. This plan by Future Generali Life Insurance might accumulate Terminal Bonus as well. In case of policyholder’s survival through the entire premium paying term of the policy, complete sum assured in addition to the vested bonus and Guaranteed Additions is payable as Survival Benefit to the policyholder and the plan continues for rest of the term.

As the best advantage, this policy by Future Generali Life Insurance has an Accidental Death Benefit built into it. This benefit is valid through the premium paying term of the policy and is twice the amount of basic Sum Assured.

In an unfortunate event of policyholder’s demise during the premium paying term of the policy, the basic sum assured in addition to the vested bonus and Guaranteed Additions shall be payable to the beneficiary as a Death Benefit and the plan would get terminated. However, if the insured survives through the entire premium paying term but dies within the policy term, then death benefit equal to 150 per cent of Basic Sum assured along with Terminal Bonus shall be payable to the beneficiary and the plan would get terminated.

Features of the Saral Anand Plan by Future Generali Life Insurance

· This plan is an endowment policy with a limited premium paying term and participation in profits

· This policy provides Guaranteed Additions equal to 3.5 per cent of the Sum Assured for first five policy term years

· Compounded Reversionary Bonus is also provided under this plan from 6th year onwards

· On survival through Premium Paying Term, Survival benefit = Total Sum assured + Vested Bonus + Guaranteed Additions

· In event of insured person’s demise during Premium Paying Term, Death Benefit = Total Sum assured + Vested Bonus + Guaranteed Additions

· In event of insured person’s demise after Premium Paying Term but within policy term, Death Benefit = 150 per cent of Basic Sum Assured + Terminal Bonus

· The policy allows discounts on big amount of Sum Assured

· This life insurance plan by Future Generali Life Insurance Company also offers considerable tax benefits. Premiums paid towards this plan, up to a maximum of Rs. Lac, qualify for a deduction from taxable income every year under the Section 80C of the Income Tax Act.

· Maturity Benefits under this plan are exempt from tax as per section 10(10) D of the act.

Eligibility Criteria

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