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

Eligibility Criteria of Central Life Insurance Money Back Super Plan

The main eligibility requirements of the Generali Central Life Insurance Money Back Super Plan are listed below:

Features of Generali Central Money Back Super Plan

The Central Life Insurance Money Back Super Plan offers several features that make it one of the most attractive options under Future Generali Life Traditional Plans. Here are some of the key features:

1. Guaranteed Benefits

   The plan provides guaranteed benefits during survival, death, and maturity.

2. Money Back Payouts

   Policyholders receive regular payouts during the policy term. These payments help support important life goals such as education, family events, or personal financial milestones.

3. Flexible Plan Options

   Two types of plans are provided by the policy, and policyholders have an opportunity to choose benefits according to their financial priorities and savings goals.

4. Guaranteed Additions

   Guaranteed additions are credited to the policy from the 8th policy year onwards, increasing the overall maturity value.

5. Tax Benefits

   Premiums paid and benefits received may qualify for tax benefits as per prevailing tax regulations.

Benefits of Generali Central Life Insurance Money Back Super Plan

The Generali Central Life Insurance Money Back Super Plan (POS Variant) offers numerous benefits, which are a combination of savings and financial protection. Here are the so-and-so benefits:

1. Survival Benefit

   The plan offers periodic survival payments during the policy term based on the option selected. These benefits are payable only if all due premiums have been paid and the policyholder is alive on the payout date.

2. Guaranteed Additions

   The plan provides guaranteed additions that add value to the total maturity. These extensions are attributed annually since the 8th policy year up to the expiry of the policy term, provided all the premiums are paid.

   This rate of guaranteed additions will be based on a number of factors, including:

   • Age at entry
   • Chosen category and Option
   • Policy term
   • Annualised premium

   These supplements are added up and paid with the maturity benefit.

3. Maturity Benefit

   Assuming that the policyholder lives until the expiration of the policy term and all premiums are made, he or she will get a maturity benefit.

   The amount of maturity entails:

   • Sum Assured on Maturity
   • Guaranteed Additions that have accrued

   This offers a sum of money payment on the expiry of the policy, which assists policyholders in meeting financial objectives in the long run.

4. Death Benefit

   Should an unfortunate death of the life assured during the term of the policy occur, the nominee will get a death benefit to support him/her.

   The death benefit is based on the higher of:

   • 105% of total premiums paid
   • Sum Assured on death (10 times annualised premium) with accrued guaranteed additions.

   This provides a lump sum payment at the end of the policy, helping policyholders achieve long-term financial goals through the best Investment Plans.

Policy Details of Generali Central Life Insurance Money Back Super Plan

The following are the policy details of the Generali Life Insurance Money Back Super Plan:

• If the first-year premium is not paid within the grace period, the policy will lapse, and all risk cover will cease.
• In the case of the first unpaid premium, the policy may be reinstated within five years of the date, pay the unpaid premiums with interest and provide evidence of insurability.
• If at least one full year’s premium has been paid but future premiums are missed, the policy will convert into a paid-up policy.
• In a paid-up policy, there will be no future guaranteed additions or survival benefits added, but there will be accrued additions attached to the policy.
• The policy may be surrendered after completion of the first policy year for the higher of the Guaranteed Surrender Value or Special Surrender Value.
• Policies issued for minors vest in the life assured once they turn 18 years old.

Exclusions Under the Generali Central Life Insurance Money Back Super Plan

Suicide Exclusion

In case of death of the life assured by suicide between 12 months of the policy start date or revival, then the nominee will get the higher of 80%. of total premiums paid or the amount available as a surrender value on the policy, provided that the policy is not lapsed.