Future Generali Nivesh Preferred: One more single-premium ULIP
Moneylife Digital Team 20 January 2011

The plan has options for life cover that range between 1.25 and 5 times the premium

Single-premium ULIPs are in fashion nowadays, because of their convenience. Also, it's easier for insurance companies to sell these plans compared with selling the regular ULIPs. But the life insurance coverage is much lower than that for regular ULIPs.

Future Generali Nivesh Preferred recently launched a single-premium plan with options for customers to strike a balance between their insurance and investment needs. There are two options for life cover ranging between 1.25 and 5 times the single premium.

The plan has four term options of 7, 10, 15 and 20 years with the minimum single premium at Rs40,000 and the maximum single premium at Rs4,00,000.

The loyalty addition at the end of the fifth policy year is 0%, 3%, 5% or 7% for different premium slabs.

The premium allocation charge is 2% of the single premium paid, while the policy administration charge is 1.75% of the single premium for the first five years, inflating at 5%per annum and nil thereafter. This is in line with other single-premium products. It's one more single premium ULIP in the market.

On the occasion of the launch, Deepak Sood, managing director and chief executive officer,  Future Generali India Life Insurance Company, said, "Insurance is about smoothening the volatility of one's personal balance sheet and Future Generali's Nivesh Preferred Plan has been designed from the very onset with the objective to enable investors who have very little time to manage their money, draw the twin-benefits of protection and optimal returns. The need of the hour is to offer innovative, simple ULIPs with attractive riders. With Future Generali Nivesh Preferred customers can avail the benefits of a single-premium plan-for times when they have some investible surplus that they want to invest in a cost-efficient and easy-to-manage insurance-cum-investment plan to achieve their financial goals."

Entry Age: Minimum 7 years, maximum 68 years.

Age at maturity: Minimum 18 years, maximum 75 years.

Premium payment frequency: Single premium only.

Policy term: 7 years, 10 years, 15 years, 20 years.

Sum assured: Options for between 1.25 and 5 times of single premium.

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