Generali Central Money Life Insurance Back Super Plan (Non-POS Variant)

Eligibility Criteria for the Generali Central Life Insurance Money Back Super Plan

Features of Generali Central Life Insurance Money Back Super Plan

The Generali Central Money Life Insurance Back Super Plan offers several features that support long-term savings and financial security as part of the Future Generali Life Traditional Plans. Some of the key features are listed below:

1. Guaranteed Money-Back Advantages

   When policyholders are in force, they receive periodic survival benefits that depend on the type of policy they have.

2. Multiple Plan Categories

   The plan offers Platinum, Gold, and Silver plans with varying schedules of survival benefits and policy term options.

3. Guaranteed Additions

   Simple guaranteed additions are credited annually as of the 8th policy year and beyond; the maturity value is increased.

4. Life Insurance Protection

   The policy also offers financial protection by providing a death benefit to the nominee during the policy term.

5. Flexible Policy Options

   The two plans allow policyholders to choose and take a balance between life cover and survival payments according to their financial objectives.

Benefits of the Generali Central Life Insurance Money Back Super Plan

1. Survival Benefit

   The plan provides survival benefits at regular intervals during the policy term based on the category selected by the policyholder.

   Category	Survival Benefit Start
   Platinum	From the end of the 6th policy year
   Gold	From the end of the 8th policy year
   Silver	From the end of the 10th policy year

2. Guaranteed Additions

   Guaranteed additions are added each year continuously up to the time of maturity, from the 8th policy year onward, to the policy value. These supplements are based on the entry age, policy type, option choice, and premium per annum.

3. Maturity Benefit

   In case the policyholder lives up to the expiry date of the policy and all the premiums are made, he or she receives:

   • Sum Assured on maturity + accrued guaranteed additions.

   Such a lump-sum payout is used to support other long-term financial objectives like retirement or substantial investments.

4. Death Benefit

   In case of the life assured's unfortunate demise during the policy term, the nominee receives the higher of:

   • 105% of total premiums paid, or
   • Premium plus accrued guaranteed additions 10 times annualised.

   These benefits combine savings and protection, making the plan a reliable best investment plan for long-term financial goals.

Riders Under the Generali Central Life Insurance Money Back Super Plan

Optional riders can enhance the base policy coverage. Here is a list of riders that can be added to strengthen financial protection:

1. Accidental Death Benefit Rider

   Gives 100% sum assured to the rider in case of death as a result of an accident within 180 days of the accident.

2. Accidental Total And Permanent Disability Rider

   Provides financial security in case the life assured permanently loses disability in an accident and is unable to do their daily chores on their own.

3. Critical Illness Rider

   Is a lump sum or income earned in a structured form in case the policyholder becomes sick due to the diagnosis of a covered critical illness.

Policy Details of the Generali Central Life Insurance Money Back Super Plan

Understanding the key policy details helps policyholders manage their coverage effectively. Below is a summary of the important policy details:

1. Grace Period

   There is a grace period of 30 days to pay the yearly, half and quarterly premiums and 15 days to pay monthly. In this stage, the risk coverage is maintained.

2. Revival

   Within five years of the date of the first premium, which was not paid, a lapsed or paid-up policy may be reinstated by payment of the outstanding premiums with interest.

3. Free Look Period

   They give the policyholders 30 days to cancel the policy in case they do not agree with the terms.

4. Surrender

   The policy may be surrendered after the first year. The payout will be whichever is higher between the Guaranteed Surrender Value and the Special Surrender Value.

5. Fund Switching

   This is a non-linked traditional policy, and hence, fund switching is not applicable.

6. Loan

   The policyholders can borrow a loan once the policy has acquired a surrender value. The maximum surrender value that can be borrowed is up to 85%.

Exclusions Under the Generali Central Life Insurance Money Back Super Plan

• Suicidal Cover

  In case the life assured commits suicide within 12 months of commencement or revival of the policy, the nominee will be eligible to take 80% of what he/she has paid in terms of premiums in the policy or the amount in terms of a surrender value, on the condition that the policy is in force.

• Total Permanent Disability (TPD)

  The TPD benefits will only be provided upon purchase of the Accidental Total and Permanent Disability Rider, and upon fulfilling the requirements provided in the policy with regards to disability.