Future Generali Flexible Money Back Plan

Future Generali Flexible Money Back Plan

Future Generali Flexible Money Back Plan is a Participating Money Back Plan with Guaranteed Additions. It is a Traditional Plan with Bonus facility as well as Guaranteed Additions.

How it works – In this plan, premium needs to be paid for 3 or 5 years less than the Policy Tenure chosen depending upon the number of Money Back Installments opted for.

This policy accrues Guaranteed Additions at the rate of 3.5% of the Sum Assured p.a. for the first 5 Policy Years. From the 6^th year onwards, the policy accrues Compound Reversionary Bonus. The policy may also accrue Terminal Bonus. Thus, on survival till the end of the Policy Tenure, the remaining Sum Assured along with Guaranteed Additions and Vested Bonuses are paid as Maturity Benefit and the policy terminates.

Now, in this plan, there are 2 options for selecting Money Back- 4 times and 6 times. If 4 times Money Back Option has been selected, then premium is paid for 3 years less than the Policy Tenure and if 6 times Money Back Option has been selected, then premium is paid for 5 years less than the Policy Tenure. After the Premium Paying Term is over, the Money Back Payout starts as per schedule and the remaining amount along with vested Bonus and accrued Guaranteed Additions are paid as Maturity Benefit at the end of the Policy Tenure.

However, in this plan, if the Life Insured dies within the Policy Tenure, then 100% of the Sum Assured is paid as Immediate Death Benefit. All the future premiums are waived, all Guaranteed Additions and Bonuses continue to accrue and the policy continues to pay the Money Back as Survival Benefit to the nominee as per schedule.

This plan has an in-built additional Accidental Total and Permanent Disability Benefit Rider.