Future Saral Anand - Product Reckoner

An Unique Dual benefit insurance plan providing survival benefit & extended term coverage till age 80 yrs.

Guaranteed addition of 3.5% of SA per annum compounding for 1st 5 policy years

SN Eligibility Criteria Simplified Underwriting

1 Minimum Entry Age
2 Maximum Entry Age
3 Survival benefit at age
4 Premium Payment Term
5 Extended Term Coverage
6
Payment Mode
7 Sum Assured Minimum
8 Sum Assured Maximum
3 years as on last birthday. Risk commences on policy anniversary after attaining age of 7 years
or 2 years after the policy commencement date, which ever is later (in case of minor)
55 years as on last birthday
Maximum 70 years last birthday
15 years
After 15 years no need to pay premium, but death coverage of 1.5 times of the base sum
assured till attainment of age 80 years (as on last birthday)
Half Yearly
Rs. 75,000
For Simplified underwriting 3 years to 50 years – Rs. 5 Lacs; 51 years to 55 years – Rs. 2
Lacs

Future Saral Anand - Death Benefit Illustration for Term 15 years for Standard Age Proof
Death Benefit
Additional
Half Term Rider Accidental
Yearly Base Sum Sum Total Sum Sum Natural
Age Prem. Assured Assured * Assured Assured Death Cover Accidental Death Cover
30 8,000 151,350 151,350 302,700 302,700 302,700 605,400
35 8,000 141,234 141,234 282,468 282,468 282,468 564,936
40 8,000 133,345 133,345 266,690 266,690 266,690 533,380
45 8,000 124,177 124,177 248,354 248,354 248,354 496,708
50 8,000 113,862 113,862 227,724 227,724 227,724 455,448
55 8,000 100,000 100,000 200,000 200,000 200,000 400,000

 * Term  Rider is not available for Minors

Future Saral Anand Base Sum Assured table - Simplified

Premium paying Term - 15 years
Half Yearly Prem. ` 8000 Half Yearly. ` 8000 Half Yearly. ` 8000
Age SAP NSAP Age SAP NSAP Age SAP NSAP
3 177,692 N/A 21 159,744 156,495 41 131,619 129,405
4 177,221 N/A 22 158,996 155,777 42 129,854 127,698
5 176,733 N/A 23 158,187 154,999 43 128,022 125,926
6 176,348 N/A 24 157,352 154,198 44 126,131 124,096
7 175,924 N/A 25 156,476 153,356 45 124,177 122,204
8 175,483 N/A 26 155,561 152,478 46 122,167 120,257
9 174,984 N/A 27 154,591 151,546 47 120,138 118,290
10 174,231 N/A 28 153,571 150,565 48 118,066 116,281
11 173,660 N/A 29 152,500 145,988 49 115,984 114,261
12 172,763 N/A 30 151,350 144,934 50 113,862 112,201
13 172,164 N/A 31 150,110 143,797 51 100,000 N/A
14 171,550 N/A 32 145,301 142,607 52 100,000 N/A
15 170,940 N/A 33 144,001 141,355 53 100,000 N/A
 16 170,296 N/A 34 142,639 140,042 54 100,000 N/A
17 169,639 N/A 35 141,234 138,688 55 100,000 N/A
18 161,951 158,612 36 139,748 137,255  Abbreviations:

19 161,231 157,921 37 138,240 135,799

20 160,501 157,221 38 136,647 134,262SAP Std. Age Proof
21 159,744 156,495 39 135,026 132,697NSAP Non. Std. Age Proof
22 158,996 155,777 40 133,345 131,073Hly Prem. Half Yearly Premium

If the premiums are discontinued after the payment of 5 annual premium, then policy will not lapse and will be converted into a
Limited Pay reduced paid up policy by reducing the sum assured to 1/3rd. All Future Bonuses will also be  paid on reduced  Sum Assured .
Option: Policy will continue till maturity on reduced sum assured basis. (premium paid / premium paying term x sum assured) +
Customer gets extended cover at 1.5 times reduced SA till age 80.

Ram aged 30, buys policy with 3 Lac Sum assured, pays 5 annual premiums & discontinues the premium payment, policy
Example continues with 1 Lac SA till maturity, on maturity age 45 he gets 1 Lac + GA + bonus (if any). His policy continues till he
attaints age 80 & he enjoys the extended coverage of 1.5 Lac.

Benefits from the plan:

Parameter
SN.
1 Guaranteed Additions
2 Reversionary Bonus
3 Inbuilt Accidental Benefit
Description
At the end of each policy year, guaranteed additions @ 3.5% of the sum assured compounding  at
the end of each year  is added to the policy during the 1st 5 policy years
From 6th policy year, compound reversionary bonus at the end of each year as declared by the
company from time to time is attached to the policy
During the premium payment term, provided the life assured is a major at the time of taking the
policy, in case of death due to an accident, then additional 2 times the base sum assured is
payable along with the death benefit as mentioned below (not applicable for minor life assured)
During premium payment term

1.     Before Risk Commencement date – Refund of Premiums paid till the date of death

2.     After Risk Commencement –

Death Benefit including Term
4
Rider
a.       2 Times Base Sum assured + guaranteed additions (if any) + vested bonus (if any).

AND

b.      1.5 Times Base Sum assured till age 80 years in addition to Maturity benefit
If the life assured survives till the end of premium payment term, then Base sum assured +
5 Survival Benefit
guaranteed additions + vested bonuses (if any) is payable

Other Benefits:

SN Parameter Description
 Any time during the policy term, after the payment of 3 years annual premium, policy may be
surrendered

Guaranteed Surrender Value - During the premium payment tem, a minimum of 30% of premiums
1
Policy Surrender paid till the date of surrender is guaranteed

Special Surrender value – is the value as declared by the company from time to time. It will always
be higher or equal to the guaranteed surrender value 
A grace period of 30 days is available for half yearly mode
2
Grace Period
If premiums are not paid on the premium due date, or before the end of grace period, then policy will
lapse from the date of 1st unpaid premium. Policy holder will receive the death benefit as per auto
3 cover as mentioned below
Lapse & Reinstatement Policy can be reinstated within 3 years from the lapse date by paying all due premiums along with
interest
After payment of 3 annual premiums, if the policy lapses, then in event of death with in 2 years from
4 the lapse date, sum assured under the policy will be paid
Auto Cover

 Documents Required:

 
PHOTO IDENTITY PROOF
Photo ID Cards issued by public sector undertaking / public financial Photo Credit Card (not expired) of primary holder
institutions / public sector banks
MAPIN Card (issued by NSDL) Photo ID provided by public sector banks
Passport Driving License
Voter Identity Card / Island Card issued by Republic of India Pan Card
Domicile Certificate with photograph issued by Municipal
Arms License issued by State & Central government
Corporation / Local Self Government / Local Government Authority
Freedom Fighter’s pass with photograph issued by Ministry of Home Pension Payment Order / Book / Card issued by State / Central
Affairs, Govt. of India Government of India
Photo Social Security Card (Smart Card) issued by Central / State Govt. or Identity Card with photograph issued by Government of Jammu &
Union Territories Kashmir
Ex-Serviceman Card Defense Dependant’s Card issued by Ministry of Defence
PIO (Person of Indian Origin) Booklet for returning NRIs Bar Council / Indian Medical Association / Senior Citizen Card
 Current Employer’s Certificate / ID Card issued by current employer.
(Please note that Service Record / Salary Slip will not be accepted)
Personal Identification and certification by an Employee of Insurance
Company
Notarized affidavit as per format and stamp requirement specified
Letter from a recognized Public Authority or Public Servant under the Official stamp & seal. (Under this category, letter issued by Sarpanch /
Gram Panchayat / Thana in-charge / Village President / Village Headman / Member of Gram Panchayat / Block Development Officer etc.)
ADDRESS PROOF
Credit card statement where customer is a primary holder
Photo debit / credit card (not expired) of primary holder having address
Photo ID proof issued by Bar council having address proof
Valid Passport
Voter Identity Card / Island Card issued by Republic of India
LPG (gas) Connection Book / Card / Pipe gas Bill / Gas Connection Letter Telephone Bill pertaining to any kind of connection like Mobile,
(not older than 3 months)
Letter from a recognized Public Authority or Public Servant under the
Official stamp & seal
Current Employer’s Certificate / ID Card issued by current employer
mentioning Residence Address (Please note that Service Record / Salary the relation of parents / spouse with the Proposer from the details
Slip will not be accepted)
PIO (Person Of Indian Origin) Booklet for returning NRIs
Valid lease agreement along with rent receipt, not older than 3 months
House / Property Tax assessment / Paid Receipt / Challan
Property Allotment Letter by the Builder
Sale Deed / Conveyance Deed / Gift Deed (the original deeds should be
registered & stamped)
Ex-Serviceman Card
Letter from a recognized Public Authority or Public Servant under the
Official stamp & seal (Under this category, letter issued by Sarpanch /
Gram Panchayat / Thana In-charge / Village President / Village Headman /
Member of Gram Panchayat / Block Development Officer etc.)
Arms License
If the insured does not have his or her own address proof then he or she
can give the address proof of his or her Father, Mother, Spouse and
Children as per the format
Pension Payment Order / Book / Card issued by State / Central
Government of India
Identity Card with photograph issued by Government of Jammu & Kashmir
Printed Ration card with Photograph and name of the Proposer is present  
Printed Ration card with Photograph and name of the Proposer is
present
Last Educational Certificate issued by Recognized Board /
University / Institute. (Educational qualification must be tallied with
the Proposal Form; And Admit Card / Mark Sheet should not be
accepted.)
Island Card issued by Republic of India
Letter / Monthly outgoing bills (Only from registered cooperative
group housing societies)
Address attested by Notary in non-judicial stamp paper of Rs.100/-
IRIS scanned household card with photograph (Issued by AP Govt.)
Valid Driving License
Electricity Bill not older than 6 months
landline, wireless etc. not older than 6 months
Written Confirmation from the Bank of the prospect or Bank Account
Statement with 6 months transaction
Ration Card in the name of parents / spouse provided it establishes
provided in the Proposal Form
Post Office Savings Pass Book
Residential Certificate issued by Municipal Corporation
Registration Certificate of Vehicles
Island Card (issued by Republic of India)
PAN confirmation letter issued by the Income Tax Department along
with the copy of PAN Card
Notarized affidavit as per format and stamp requirement specified
Any acceptable residence proof in the name of the Parent in Law or
parents of a married women / widow (Proposer) provided the
relationship is established from the details given in the Proposal form
or the proposer gives a declaration that she stays with her Parent-in-
Law
Defence Dependant’s Card issued by Ministry of Defence
Current Employer’s Certificate / ID Card issued by current employer.
(** Note - Service Record / Salary Slip will not be accepted)
Freedom Fighter’s pass with photograph issued by Ministry of Home
Affairs, Government of India
Photo Social Security Card (Smart Card) issued by Central / State
Govt. or Union Territories

AGE PROOF
STANDARD  AGE PROOF
a)       Birth Certificate issued by the Municipal authorities

b)       School / College Certificate, Board / University admit card / hall ticket / marks sheet, Transfer certificate issued by the school / college in a
authorized format duly signed and sealed; It is mandatory that School / College certificates bear name and address of School / College
and registration / admission number & date of registration / admission along with name & father’s name of the life to be assured

c)       Passport 

d)      Service Extract with Age, Address and Identity on Letter Head in case of Central Govt. / State Govt. / Municipal / PSU / Reputed
 organizations and companies

e)       Baptism Certificate / Marriage Certificate in case of Roman Catholics

f)        Domicile Certificate

g)      Gram Panchayat Certificate with photo: should be an extract from the register of Gram Panchayat with the serial number of record on the
register appearing thereon

h)      Driving License

i)        PAN Card

j)        Provident Fund Statement issued by the  Employer in case of PSU  employees

k)       Pension Order of self

l)        Employee Identity Card (bearing DOB) issued by Central Govt. /  State Govt. / Municipal authorities / PSU / Reputed private Company for
their employees

m)     LIC Policy Document is a valid standard age proof subject to the condition that the age has been admitted by LIC based on
certain age proof codes such as:  P: Passport, S: School Certificate, C: College Certificate, M: Municipal Birth Certificate, B:
Baptism Certificate,  I: Defence ID Card, J: Domicile Certificate.  LIC Policy Documents received with the above abbreviations
only will be accepted as standard age proof.
NON - STANDARD AGE PROOF
a)  Voter’s Identity Card / Election Commission Card

b)  Ration Card with date of issue mentioned on the ration card

c)  ESIS Cards

d)  Pension Order of spouse

e)  Declaration of Date of Birth given under the certification of Sarpanch/Gram Panchayat Authorities -

f)    Bihar Parichay Praman Patra (ID Card by Bihar Govt.)

g)  Gaon Burro Certificate

LIC policy document, where age admitted is yes and codes other than mentioned above Affidavit notarized (to be confirmed by OPS)

*** Non–Standard Age Proof:

- Consent from Life assured for NSAP Extra premium along loading premium to be provided in the proposal form.

*** A std. age-proof is a “MUST”  in case of minor life proposed

Underwriting Criteria:

For Simplified Underwriting

1.Simplified Proposal Form to be filled

2. Maximum Sum Assured – Rs. 5 lacs (3 years to 55 years)

 3. Major Students (18 - 25Yrs) – Insurance cover up to Rs 5 lacs can be granted without insisting on parents insurance

4. Self – employed female life unable to provide income proof / Housewife – Insurance cover upto Rs. 5 lacs can be granted without insisting on
husband’s insurance

5. Age Proof: Std & Non Std as per company’s underwriting guidelines. In case of children below 18 yrs of age (as on last birthday)
standard age proof is mandatory

6. Army / Navy / Air force / Police / Mining & other hazardous occupations are not eligible under this policy.

Farmers & Widows: Total Insurance cover upto Rs 2 Lakhs

Thumb Impression –  Total Insurance cover upto Rs 1.5lakhs

Risk Commencement Date
The Date of Commencement of Risk would be the date of issue of first premium receipt

If life assured is a minor under age at issue below 7 years, risk under the policy will commence from the later of

Risk Commencement Date is 7 yrs completed age or two years from  Policy Commencement whichever is later.

REQUIREMENT GRID

SN Components Important Points

PRODUCTS
          The total combined SA under all simplified plans cannot exceed Rs. 5 lacs

1
          In case of existing Policy with FG if the limit exceeds Rs. 5 lacs, medicals will be required as per Medical grid

          Any Policy Above Rs. 5 lacs (in combination of all FG products) will fall under non Simplified Underwriting with Medicals
Application Form
a)     Form should be completely filled

b)     If anything overwritten or scratched in the application form it must be countersigned by Proposer

c)     The name as stated on proofs submitted and proposal form should be same

d)     For Male Lives in case of difference in name - Application form Vs ID / Age / Address proof Gazette copy with News paper
notification cutting to be submitted
2

e)     For Female Lives in case of difference in name - Application form Vs ID/Age/Address proof, a maiden name declaration or name
change declaration to be submitted

f)      Occupation and Exact nature of duty should be clearly mentioned

g)     Signature in the Application forms, Age Proof, Id Proof and Address Proof should be the same

h)     Proposer to Sign all the documents as mentioned in Point g) above

Age Proof Consent from Life assured for NSAP Extra premium duly signed would be required for proposals received with
3
  Non-Standard age proof
 AML GRID -   Mandatory Requirement are based on the amount of Annualized Premium
Document Required Up to Rs. 10,000 Rs. 10,001 to Rs. 99,999 Rs. 1,00,000 and above
Photo ID Proof Yes Yes Yes
Photo No Yes Yes
 
AML Documents
4 Address Proof No Yes Yes
Proof of Source of Income No No Yes
Pan Card No No Yes
 
Adverse Personal Any  health questions marked as yes in proposal form will be rejected under simplified guidelines and should be routed
5
Health History via 4 pager form
Hazardous Occupation /
6 Persons employed in Mining, para-military, military & police services will not be allowed under simplified underwriting
hobbies

7 First Time Right (FTR) Checklist to be attached with each form

 DD payable at Chennai, drawn in favour of “Future Generali India Life Insurance Co. Ltd.” / “FGI Life Insurance
8 Payment Mode
Co. Ltd.”