Future Generali Life Insurance Launches Immediate Pension Plan

The person who plans to buy Future Generali Saral Pension plan can choose to receive guaranteed annuity on yearly, half-yearly, quarterly, or monthly basis.

Leading private sector life insurance company Future Generali Life Insurance has launched an immediate annuity product 'Future Generali Saral Pension plan'. The pension plan launched by the company is a single premium non-linked, non-participating individual immediate annuity plan with two annuity options. First option is single life annuity with return of 100 per cent of purchase price and the second option offer joint life last survivor annuity with return of 100 per cent of purchase price on the death of the last survivor. The person who plans to buy Future Generali Saral Pension plan can choose to receive guaranteed annuity on yearly, half-yearly, quarterly, or monthly basis. "Resonating to IRDAI's vision to offer standard immediate annuity product with simple features and standard terms & conditions, we have launched Future Generali Saral Pension. This product will help customers achieve financial independence during their retirement years without any worry of change in interest rates in the future. Such a simple product will make it easier for the customers to make an informed choice and enhance the trust with Future Generali India Life Insurance Company Limited and allow us to follow the Lifetime Partner behaviour," Bikash Chaudhary, appointed actuary, and chief risk officer, Future Generali India Life Insurance Company said in a statement.