Future Generali India Life Insurance Company, the insurance joint venture between the Future Group of India and Generali Group of Italy has launched Future Anand, a combination of whole life and endowment assurance.

The plan provides the benefit of two covers in a single policy, while still costing much less than two policies.

Future Generali is present in India in both the life and non-life businesses as Future Generali India Life Insurance Co Ltd and Future Generali India Insurance Co Ltd.

The Generali Group is one of the most significant participants in the global insurance and financial products market. The Group's Parent and principal operating company is Assicurazioni Generali, market leader in Italy, founded in 1831 in Trieste.

In recent years, the Group has made a significant return to Central-Eastern European markets and has set up offices in the principal markets of the Far East, among which are China and India.

The Future Anand scheme 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 a 125-per cent life cover after the premium paying term.

The minimum premium paying term is eight years upto a maximum of 20 years. Future Anand  is open to those between the ages of 12-62, at a minimum sum assured of Rs1 lakh per policy.

Plan features

• 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 pa 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

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.''

Future Generali is currently active through 93 branches across 84 cities and over 25,000 licensed advisors. Besides this large network of agents and branches, Future Generali will also actively offer their Insurance solutions across 192 Future Group malls.