Future Generali India Life Insurance Company has introduced Secure Income Plan, a mix of traditional endowment with annual income benefits.
The Future Generali Secure Income plan can be availed by people in the age group of 0 to 60 years for terms ranging from 15 to 65 years, reported The Hindu.
As per the plan, the company will pay accrued compounded reversionary bonuses on completion of the premium payment period.
After the premium payment period, assured sum of 5.5% will be paid as guaranteed annual cash back, till the end of the policy term along with cash bonuses.
On maturity, the policyholder will receive the sum assured in addition to terminal bonus from the plan, which could be purchased from a low ticket size of Rs 10,000 onwards.
The company also plans to launch another five new products, for which they were awaiting clearance from the regulatory authorities, according to company sources.