Future Generali India Life Insurance has launched Future Generali New Assured Wealth Plan, a traditional endowment policy that offers guaranteed returns.
The policy is available in two variants - guaranteed endowment plan and guaranteed endowment plan with inbuilt waiver of premium.
Highlighting the benefit, the company said, “If a 30 year old customer pays a premium of Rs.10 lakh per year for 10 years, the guaranteed maturity benefit at the end of 20th year is almost Rs.2.5 crore.”
A rough calculation on financial calculator using cash flow function shows that the plan offers internal rate of return (IRR) of 5.99%.
In a press release, Rakesh Wadhwa, Chief Customer and Marketing Officer, Future Generali India Life said, “Given the volatility in interest rates, many customers look for long term solution with guaranteed returns. Also, the ongoing pandemic has made people understand the importance of being financially protected. Both these factors have resulted in higher enquires for guaranteed life insurance products.”
