Future Generali India Life Insurance Company, a joint venture between Future group of India and Generali Group of Italy, has come out with a unit linked insurance plan (ULIP) ‘Future Generali NAV Assure’. The scheme seeks to provide maximum opportunity for growth while protecting the investments against adverse market conditions in financially volatile times. Addressing presspersons here on Wednesday after launching the product, Balram Sarma, Chief Operating Officer, said the scheme guarantees highest NAV (net asset value) recorded on daily basis during the first seven years of the policy or NAV at maturity date, whichever is higher.
The ULIP would safeguard the investment returns and the customer could invest without waiting to time the markets whether they are bullish or bearish. It is available for customers in the age group of 8-60 years.
The plan allows flexibility to its customers to pay premiums with four options to choose from being single, three, five and seven years. It comes with a fixed policy term of 10 years and the minimum annual premium is Rs. 39,960.
The NAV guarantee is applicable only on maturity provided the policy is in force. The premium allocation charges range from 1-8 per cent depending on the premium band and the premium paying term.
According to Mr. Balram Sarma, Future Generali was operating through 91 branches across 83 locations with over 44,000 licensed advisors.