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Future Generali Assured Money Back Plan

Future Generali Assured Money Back Plan

  • Age at Entry:

    Minimum: 18 years

    Maximum: 50 years for a Policy Term of 15/17/20 years, 48 years for a Policy Term of 22 years

  • Policy Term:

    15 years / 17 years / 20 years and 22 years

  • Premium Payment Term:

    5 years / 7 years / 10 years and 12 years

  • Premium Payment Frequency:

    Annual, Half-yearly, Quarterly, Monthly

  • Premium:

    Minimum: 18,000 for 5 year / 7 year Premium Payment Term

    24,000 for 10 year / 12 year Premium Payment Term

    Maximum: No Limit

  • Sum Assured:

    Minimum:58,215
    Maximum: No limit

How it Works

Step1Choose the benefit amount i.e. Sum Assured
  • Choose the Sum Assured amount you desire under this policy
Step2Choose the period of cover
  • Choose the term of your policy i.e. decide the number of year for which you wish to pay the premium i.e. 5/7/10 or 12 years
Step3Receive and review the benefit illustration for your requirements
  • Our sales representative will help you calculate your premium and provide you a customized benefit illustration.
Step4Pay the premium
  • Get ready to receive guaranteed money back for 10 years.
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BENEFITS

Survival Benefits
If you have paid all the due premiums as per your policy, you will receive 90% of Sum Assured as Survival Benefits and additional 110% of the Sum Assured as Maturity Benefit.

Let us understand your benefits with the help of an example…

Kumar is a 35 year old businessman, he applied for a Sum Assured of Rs5,00,000 with a 10 years of Premium Payment Term. He needs to pay Rs56,805/- (excluding taxes and extra premium, if any) for 10 years.

As per the plan, after Kumar completes paying all his due premiums for 10 years, he will start receiving a guaranteed payout of 10% of the Sum Assured for the next 9 years. Therefore, he will receive Rs50,000 every year from the end of 11th to the end of 19th year. He will also receive 110% of Sum Assured i.e. Rs5,50,000 on maturity date.

Death Benefit

In case of your unfortunate demise during the Policy Term, the Death Sum Assured will be payable to your nominee. In order to ensure that your family is always adequately protected, the Death Sum Assured shall be highest of the following:

  • 10 times Annualised Premium (excluding taxes and extra premiums, if any), or
  • 105% of total premiums paid (excluding taxes and extra premiums, if any) as on date of death, or
  • 110% of Sum Assured

Let us understand the Death Benefit from the previous example:

Kumar, a 30 year old male, has opted for an insurance coverage amount called Sum Assured of Rs5,00,000. He chooses a premium paying term of 10 years. He pays Rs56,805 as annual premium (excluding taxes, rider premium, and extra premium if any). Unfortunately, he expires during the 4th policy year. In this case, Kumar's nominee will receive the following Death Benefit:

Your Benefits
Survival Benefits 10% of Sum Assured at the end of every year after the Premium Payment Term, for 9 years.
Maturity Benefit 110% of sum assured at the end of Policy Term.
Death Benefit Death Sum Assured will be payable to your nominee. Death Sum Assured shall be highest of the following:
  1. i) 10 times Annualised Premium (excluding taxes and extra premiums, if any), or
  2. ii) 105% of total premiums paid (excluding taxes and extra premiums, if any) as on
    date of death, or
  3. iii) 110% of Sum Assured

Target Group
For customers looking for a tax saving life insurance plan that offers flexibility of paying for a limited period and receive guaranteed regular money backs alongwith a guaranteed lump sum benefit.

Eligibility

Parameter Criterion
Entry Age
(Age mentioned refers to age as on last birthday)
Minimum: 18 years
Maximum: 50 years for a Policy Term of 15/17/20 years,
48 years for a Policy Term of 22 years
Policy Term 15 years / 17 years / 20 years and 22 years
Premium Payment Term 5 years for a 15 year Policy Term
7 years for a 17 year Policy Term
10 years for a 20 year Policy Term
12 years for a 22 year Policy Term
Annualised Premium(minimum) For a 5 year / 7 year Premium Paying Term:Rs18,000
For a 10 year / 12 year Premium Paying Term: Rs24,000
There is no maximum premium limit
The minimum premium is exclusive of any service tax, modal factor and extra premium
Sum Assured Your Sum Assured will depend on your choice of Policy Term, Premium and your age.
Minimum Sum Assured: Rs58,215
Maximum Sum Assured: No limit, subject to board approved underwriting policy.
Premium Payment Frequency Monthly, quarterly, half yearly and annual payment modes are available under the plan.
• Half yearly Premium- 52% of annual premium.
• Quarterly Premium – 26.5% of annual premium
• Monthly Premium - 8.83% of annual premium.

Monthly premiums can only be paid by Electronic Clearing System (ECS)

 

DISCLAIMERS

Future Generali Assured Money Back Plan (UIN: 133N056V01)

  • For more details on risk factors, terms and conditions, etc., please read the policy document carefully before conducting a sale
  • Tax benefits are subject to change as per tax laws.
  • Insurance is the subject matter of solicitation.

 

FREE LOOK CANCELLATION:
You have a period of 15 days (30 days if the policy is sold through Distance Marketing Mode) from the date of receipt of the Policy document to review the terms and conditions of the Policy. If you are not satisfied with or disagree with any of the terms and conditions, you have the option to Cancel/withdraw and return the Policy along with a letter (dated and signed) stating your intention to cancel the Policy and reasons for the objections/Cancellation, within this period. Cancellation of Policy and refund of premium is allowed under this provision, whereby the amount payable on such cancellation will be equal to the total premium paid less a proportionate cost of insurance for the period of cover and expenses towards Policy stamp duty and medical examination, if any.

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