Future Generali Assured Money Back Plan

This is a Non-Linked, Non-Participating Endowment Plan.The plan offers great flexibility by allowing the policy holder to opt between 4 policy terms so that they can choose the one which best suits their financial needs based on their current age.

Key Features

  • The policy holder can choose their own Premium Payment Term i.e. 5, 7, 10 or 12 years
  • 10% of the Sum Assured every year for 9 years after their Premium Payment Term
  • 110% of the Sum Assured on maturity of their policy
  • The policy holder gets an insurance cover. In case of their unfortunate demise, their family will receive the Death Sum Assured

Benefits

  • Maturity Benefit
110% of the Sum Assured on maturity of their policy
  • Death Benefit
In case of the policy holders unfortunate demise during the Policy Term, the Death Sum Assured will be payable to your nominee. In order to ensure that their family is always adequately protected, the Death Sum Assured shall be highest of the following:
1) 10 times Annualized Premium (excluding taxes and extra premiums, if any), or
2) 105% of total premiums paid (excluding taxes and extra premiums, if any) as on date of death, or
3) 110% of Sum Assured
  • Tax benefit
The Premium(s) paid by you are eligible for tax benefit available under the provisions of Section(s) 80C, 80 CCC (1), 80D, 10(10D) as applicable
  • Survival Benefit
If the policy holder has paid all the due premiums as per their policy, they will receive 90% of Sum Assured as Survival Benefits and additional 110% of the Sum Assured as Maturity Benefit.

Am I eligible?

PARAMETER MINIMUM MAXIMUM
ENTRY AGE 18 years 50 years
SUM ASSURED Depend on choice of policy term ,premium and age
POLICY TERM 15/17/20/22 years
PREMIUM PAYMENT TERM 5 years 12 years
PAYMENT MODES Annual, Half Yearly,Quarterly And Monthly

What if?

I am unable to pay on time

  • A grace period is provided based on the payment frequency. The policy is continued if you make the payment within the time period else the policy is lapsed.

I stop the payment

  • During the first three years, if premiums are not paid within the Grace Period the policy will lapse. After the first three years, if premiums are not paid within Grace Period, the policy will be made ‘Paid-Up’ and the Sum Assured will be reduced. The Sum Assured payable on death will be reduced in the same proportion as the ratio of number of premiums paid to the total premiums payable under the policy.

I wish to take a loan

  • The policy holder may apply for a loan after their plan has acquired a Surrender Value. The loan amount can be from a minimum of `10,000 up to a maximum of 85% of the Surrender Value.

Exclusions

SUICIDE

  • If the Life Assured commits suicide within one year from the policy commencement date, the policy will be void and only 80% of the premiums paid will be payable as Death Benefits. If the Life Assured commits suicide within one year from the revival date of the policy, if revived, the higher of, 80% of the premiums paid till the date of death and Surrender Value, will be payable as Death Benefits.