Future Generali Pearls Guarantee Plan

With the Future Generali Pearls Guarantee plan, policyholders receive guaranteed protection and guaranteed cash back. These are the two ‘pearls’ that are referred to in the policy. The policyholder has to pay the reasonably affordable premiums for a limited time and enjoy life insurance cover for an extended timeframe. They also receive annual payouts for six years in the form of Survival and Maturity Benefits. Financial protection is also provided to the nominees of the policyholders in the unfortunate event of the death of the life insured. Thus, this policy is ideal for those looking to maximize their medium and long-term savings, while providing protection and securing the future of their loved ones.

Key Features

  • This policy offers affordable life cover with a minimum annual premium of only Rs.10000.
  • Depending on the policy term chosen, premiums have to be paid only for 10 or 12 years.
  • The policyholder receives payouts for six years after the premium payment period.
  • Policyholders have a choice of two limited premium payment terms of 15 and 20 years, while they receive insurance cover for five years after the premium payment term.


  •  The Survival/Maturity Benefit of this policy is paid annually for six years after the last premium payment year. For the first five years the payout is equal to 10% of the Sum Assured and in the last year, i.e., on maturity, the payout is 70% of the Sum Assured.
  • In the unfortunate event of the demise of the person insured, the nominee receives the Death Benefit. The Death Benefits payable is higher of the following:
    • 120% of the Sum Assured (irrespective of any Guaranteed Cash Back already received), or
    • 10 times the annualized premium, or
    • 105% of the total premiums paid.
      • A discount is available on large Sum Assured amounts.
      • Tax benefits are available on the premium paid and Death and Maturity Benefits as per sections 80(C) and 10 (10D) of the Income Tax Act.

Product Specification:




Entry Age of the Life Assured(Last Birthday)

7 years

55 years

Maturity Age (Last Birthday) of the Life Assured

23 years

73 years

Policy Term (PT) in years

16 years

18 years

Premium Paying Term (PPT) in years


12 years

Premium Paying Frequency

Yearly, Half-yearly, Quarterly, Monthly

Annual Premium

Rs. 10000

Depends on Sum Assured

Sum Assured

Based on age and policy term

Details About Premium


Policy Term

Premium Payment Term

Annual Premium

Sum Assured

10 years

16 years

10 years

Rs.12, 894

Rs. 1,50,000

20 years

18 years

12 years

Rs. 36,866


30 years

16 years

10 years

Rs. 8,04,672

Rs. 99,00,000

55 years

18 years

12 years

Rs. 79,13,000



Policy Details

Grace Period: There is a limited timeframe of 30 days from the due date of the unpaid premium to pay all dues, without interest. For premium payments through monthly mode, the Grace Period is 15 days. If due premiums of the first three years are not paid within the Grace Period, the policy will lapse.

Policy Termination or Surrender Benefit: Surrender Value of the policy is acquired when the policyholder pays all due premiums for the first three years. A policy may be surrendered either before or after the premium payment term. Termination of the policy occurs on payment of the Surrender Value or the Death Benefit.

Free Look Period: Policyholders have a limited free look period of 15 days from the date of receiving policy documents to review the policy. This timeframe is extended to thirty days if the policy was sold via distance marketing. If the policyholder does not wish to continue with the policy, then he or she has to return the policy stating their objections. The customer will receive the policy premium minus a proportionate premium for the risk borne by the company, including as any extra expenses, such as towards a medical examination or stamp duty charges.

Additional Features or Riders

      • The revival of a lapsed policy is possible if the policyholder submits a written request for reinstatement within a timeframe of two years from the date of the first unpaid premium.
      • If after three policy years, due premiums are not paid within the Grace Period, the policy will acquire Paid Up Value and the Sum Assured gets reduced.


      • The term insurance cover is void if the person insured, whether sane or insane at the time, commits suicide within one year from the start of the policy cover or reinstatement. The company will refund only 80% of the premiums paid and Surrender Value, as Death Benefit.

Documents Required

The policyholder has to fill up an ‘Application form’ with identity proof, bank account proof, address proof and a recent photograph. Select cases may require income proof and a medical examination.

Written By: PolicyBazaar - Updated: 19 March 2021
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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