(1888PressRelease)
June 18, 2009 - Hyderabad - Future Generali India Life Insurance Company, the Insurance joint venture between Future Group of India and Generali Group of Italy today launched Future Anand, a combination of whole life and endowment assurance, and an evergreen choice of the savings savvy Indian insurance buyer. The plan provides the benefit of two covers in a single policy, while still paying much less than two policies.
• A double benefit endowment cum whole life plan
• Combines two covers in one policy, at a much lower cost
• Choice of short term and long-term payment terms (8-20 years)
• Guaranteed addition of 3.5 percent of sum assured p.a. for first five years, plus compounded reversionary bonus from sixth year onwards
• Five optional riders for additional cover
• Premium holiday auto cover after three years
• Death benefit after premium paying term is 125 percent of sum assured, plus terminal bonuses, if any
A traditional wealth creation plan for future financial security, Future Anand allows customers to choose a short payment term and get back the sum assured along with guaranteed additions and bonuses as maturity benefit, while staying insured up to the age of 99 years, with 125 percent life cover after the premium paying term. The minimum premium paying term is 8 years and maximum is twenty years. Future Anand can be availed by persons aged 12-62 years, at a minimum sum assured of Rs. One lac per policy.
Future Anand is the latest offering from Future Generali, as part of a continued endeavor to offer a vast array of products to customers, in line with their unique business model offering Total Insurance Solutions, across Life & General Insurance.
The other differentiator of Future Generali is the Mallassurance™ channel – a unique & innovative delivery channel selling Insurance offerings across the Life and General Insurance categories through all Future Group retail outlets across the country.
Speaking on the occasion, Jayant Khosla, CEO, Future Generali India Life Insurance Company said, “Future Anand is an appropriate choice for customers who are looking for consistent returns amidst continued market uncertainty. The plan offers multiple benefits that can take care of security in the long term, with the added option of flexible payment terms. We believe it answers the need of the hour.” He further added, “We are extremely happy to see the confidence Indian investors have reposed in us. It is reflected in the fact that we closed our first full year of operations in March 2009 with premium earnings of Rs. 155 crore, a significant milestone in one of the most challenging business environments. We will continue the momentum in 2009-10, with a continued focus on customer service and innovative offerings.”
Some of the salient features of Future Anand:
• Comes with guaranteed additions of 3.5% of sum assured per annum for first 5 years which are compounding year after year and from 6th year onwards policy earns compounded reversionary bonuses.
• In the event of death happening during the premium paying term, the sum assured along with guaranteed additions & vested bonuses (if any) plus terminal bonus, if any, is payable. If death were to take place after the premium paying term, 125% of sum assured along with terminal bonuses is payable to the nominee.
• The plan comes with 5 optional riders to take additional cover against accidental death, accidental total permanent disability, and waiver of premium on disability, critical illness rider and term assurance rider.
• The policy can be surrendered or loan can be availed within the surrender value.
• Large sum assured discounts on premium can be availed by the customer.
• A special feature is the Premium Holiday “Auto Cover” wherein one can choose not to pay premium after three years for up to 2 years while the life cover continues.
Future Generali is currently active through 93 branches across 84 cities and over 25000 licensed advisors. Besides this large network of agents & branches, Future Generali will also actively offer their Insurance solutions across 192 Future Group malls.
For Further Information:
Ogilvy Public Relations
Rucha Sane
+91 40 44344326 / 9703046888
rucha.sane ( @ ) ogilvy dot com
Lalita Aiyer
+91 22 44344138 / 9819199825
lalita.aiyer ( @ ) ogilvy dot com
Manallii Ajmera
+91 22 44344512 / 9833763484
manallii.ajmera ( @ ) ogilvy dot com
Future Generali
Sunanda Parekh
+91 22 40976541/ 9820111136
sunanda.parekh ( @ ) futuregenerali dot in
Future Generali India Life Insurance Co Ltd, Reg No: 133, Registered Office: 001, Trade Plaza, 414 Veer Savarkar Marg, Prabhadevi, Mumbai–400025
The liability of Future Group and the Generali Group is limited to the extent of their shareholding in the Company Insurance is the subject matter of Solicitation.
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