Generali Central Life Insurance Sampoorna Samadhaan Plan

Eligibility Criteria for the Generali Central Life Insurance Sampoorna Samadhaan Plan

Features of the Generali Central Life Insurance Sampoorna Samadhaan Plan

Some of the key features of the Generali Central Life Insurance Sampoorna Samadhaan Plan include:

• High life cover with a death benefit multiple that can go up to 100 times the annualised premium, subject to underwriting guidelines.
• Refund of mortality charges and allocation charges added back to the fund value from specified policy years, provided the policy remains in force.
• Choice of nine segregated funds across different risk profiles, including low-risk, balanced, and equity-oriented funds.
• Flexibility to switch funds without switching charges, subject to plan rules.
• Option to choose between the Self-Invest Rule or the Auto Invest Rule for fund allocation.
• Systematic Partial Withdrawal facility after completion of the five-year lock-in period.
• Tax benefits may be available on premiums paid and benefits received as per prevailing tax laws.

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 Sampoorna Samadhaan Plan

The Generali Central Life Insurance Sampoorna Samadhaan Plan offers both protection and investment-linked benefits. Some of the key benefits are:

• Maturity Benefit: On survival until the end of the policy term, the Fund Value as on the maturity date is payable to the policyholder.
• Death Benefit: In case of the unfortunate death of the life assured during the policy term, the nominee will receive the highest of:
  • Sum Assured less deductible partial withdrawals,
  • Fund Value, or
  • 105% of total premiums paid (including top-up premiums, if any), less deductible partial withdrawals.

The policy terminates upon payment of the death benefit.

• Wealth Creation Opportunity: Being a ULIP, your returns will be based upon the performance of the chosen funds. Your investments can become an active process with the help of fund options and switching.

Riders Under the Generali Central Life Insurance Sampoorna Samadhaan Plan

The following optional riders are available under the Generali Central Life Insurance Sampoorna Samadhaan Plan:

• Generali Central Linked Accidental Death Benefit Rider
• Generali Central Linked Accidental Total & Permanent Disability Rider
• Generali Central Linked Critical Illness Rider

These riders provide additional protection, subject to rider-specific terms and conditions.

Policy Details of the Generali Central Life Insurance Sampoorna Samadhaan Plan

1. Grace Period

   A 15-day grace period is granted to the monthly mode, and a 30-day grace period to the rest of the modes. This period is when the policy is still in effect.

2. Revival

   A policy that has been discontinued may be reinstated within three years after the first premium was unpaid, under the conditions.

3. Free Look Period

   Within 30 days of receiving the policy document, you may return it if you do not agree with the terms. Payments will be cancelled in accordance with the policy.

   

4. Surrender

   The surrender may be made at any time. In case of surrender within the first five years, the fund amount is transferred to the Discontinued Policy Fund to be paid upon expiration of the lock-in period.

5. Fund Switching

   The plan permits unlimited free switching, except when the Auto Invest Rule is in effect.

   This plan falls under the investment plans category, which integrates long-term savings with life insurance cover.

Exclusions Under the Generali Central Life Insurance Sampoorna Samadhaan Plan

1. Suicidal Cover

   In the event of any death that is caused by suicide within 12 months of the date the policy starts or is revitalised, the nominee will obtain the fund worth according to the policy circumstances.

2. Total Permanent Disability (TPD)

   TPD is not included in the base plan, but it can be taken with the corresponding rider.