Generali Central Life Insurance Bima Advantage Plus Plan

Eligibility Criteria for Generali Central Life Insurance Bima Advantage Plus Plan

Features of the Generali Central Life Insurance Bima Advantage Plus Plan

Here are the key features of the Generali Central Life Insurance Bima Advantage Plus Plan:

• A combination of life protection and market-linked investment.
• Choice of nine investment funds with different risk profiles.
• Flexibility to switch between funds.
• Premium redirection facility available.
• Partial withdrawals are allowed after the completion of five policy years.
• Tax benefits may be available as per applicable laws.

The plan allows up to 12 free fund switches per policy year. Additional switches are subject to charges. You can also explore other best investment plans to compare income, savings, and wealth creation options offered by the insurer.

Benefits of the Generali Central Life Insurance Bima Advantage Plus Plan

Below are the key benefits of the Generali Central Life Insurance Bima Advantage Plus Plan:

• Maturity Benefit: On survival till the end of the policy term, the fund value as on the maturity date is payable.
• Death Benefit: In case of death during the policy term, the nominee will receive the higher of:
  • Sum Assured (after deducting applicable partial withdrawals), or
  • Fund Value, or
  • 105% Of Total Premiums Paid

The policy terminates after payment of the death benefit.

• Wealth Creation Opportunity: As a ULIP, your investment participates in the capital markets through selected funds, offering potential long-term growth.

Policy Details of the Generali Central Life Insurance Bima Advantage Plus Plan

Here are the policy details of Generali Central Life Insurance Bima Advantage Plus Plan:

1. Grace Period

   A grace period of 15 days (in case of the monthly mode) and 30 days (in case of other modes) is allowed. This period does not indicate an end to the policy.

2. Revival

   A policy that has been terminated may be revived within a total of 3 years from the date of the initial unpaid premium, subject to certain conditions.

3. Free Look Period

   The policyholder may terminate the policy within 30 days of receiving the policy document if he is not satisfied with its terms.

   

4. Surrender

   The surrender may be done at any time within the policy term. Assuming surrender in the first five policy years, the fund value (less any applicable charges) will be transferred to the Discontinued Policy Fund, and the payment will be made upon expiry of the lock-in period.

5. Fund Switching

   Up to 12 free switches are available in each policy year. Charges apply beyond the free limit.

   This plan falls under Generali Central Life Investment Plans, which integrate long-term savings and life insurance cover.

Exclusions Under the Generali Central Life Insurance Bima Advantage Plus Plan

Suicidal Clause

If the life assured dies due to suicide within 12 months from policy commencement or revival, only the fund value as on the date of intimation will be payable.