Future Generali Assured Money Back Plan
Future Generali Assured Money Back Plan caters to the needs of customers who are unsure about their ability to pay premiums for the entire policy term. For e.g.: business owners, sportspersons, and artists etc. who tend to have an irregular income.
This plan also offers flexibility to choose from 4 limited premium payment terms, which starts from 5th year and the customer enjoys a longer duration of life cover along with 200% of the sum assured as guaranteed money backs during the policy term.
Compare this plan with other Investment Plans
Future Generali Assured Money Back Plan - Key Features
Offers flexibility to choose from 4 limited premium payment terms, which starts from 5th year
10% of Sum Assured at the end of every year after the Premium Payment Term, for 9 years
110% of Sum Assured at the end of Policy Term
...
In case you are not happy with product, you can cancel the policy within 15 days of receipt of policy document. The medical charge, mortality &
If you miss paying premium, then you get additional 30 days for annual, half yearly or quarterly mode & 15 days for monthly mode. The grace per
Flexibility to make changes in the mode of payment
Yes available, minimum of Rs. 10,000 up to a maximum of 85% of the Surrender Value. Income Tax Benefit - Premium(s) paid are eligible for tax benef
There are no riders available in this plan.
How Future Generali Assured Money Back Plan works
- Payment Term: You can choose your own premium payment terms i.e. 5, 7, 10 or 12 years.
- Guaranteed money back: You get 10% of the Sum Assured every year for 9 years after your Premium Guaranteed Maturity Benefit: You get 110% of the Sum Assured on maturity of your policy
- Life Cover: You get an insurance cover. In case of your unfortunate demise, your family will receive the sum assured
If the policy holder stops paying the premium, the policy lapses and all benefits cease. However, if at least 3 years premiums have been paid, then the policy gets converted to Paid Up Value. The policy can be revived within 2 years from the date of the first unpaid premium.
Eligibility conditions in Future Generali Assured Money Back Insurance Policy
| Parameter | Minimum | Maximum |
| Entry age | 18 | 50 years – for Policy Term of 15/17/20 years 48 years - for Policy Term of 22 years |
| Annualised Premium | 5 year / 7 year Premium Paying Term: Rs. 18,000 10 year / 12 year Premium Paying Term: Rs. 24,000 |
No Maximum limit |
| Sum Assured | Rs. 58,215 | No Maximum limit |
| Policy Term | 15 years / 17 years / 20 years and 22 years | |
| Premium Payment Frequency | Monthly, quarterly, half yearly and annual Monthly premiums can only be paid by Electronic Clearing System (ECS) |
|
Future Generali Assured Money Back Plan - Surrender Value
On surrender, the higher of the guaranteed surrender value and the special surrender value will be paid. Please find the surrender values in a tabu
Policy Exclusions:
If the life assured commits suicide within one year from the policy start date, the policy will be cancelled and only 80% of the premiums paid will be paid to the nominee. If the life assured commits suicide within one year from the revival date, (if revived), the policy will be cancelled and the higher of 80% of the premiums paid and the surrender value, if any, will be paid to the nominee.
