Future Generali Assured Money Back Plan

We often come across products which promise to offer great returns, but in most cases these do not fulfil what they promise. Future Generali Assured Money Back Plan is a non-linked, non-participating plan which delivers on its name, offering guaranteed returns on an investment. Designed to provide financial freedom and flexibility to individuals, this is an ideal investment to prepare yourself for any incident which life throws your way.

Eligibility Criteria for Future Generali Assured Money Back Plan

The basic eligibility criteria for this plan are mentioned below.

Minimum entry age 18 years
Maximum entry age

48 years for 22 year policy term

50 years for all other policy terms

Minimum premium

Rs 18,000 per year for 7 PPTs

Rs 24,000 per year for other PPTs

Key Features of Future Generali Assured Money Back Plan

Some of the main features of Future Generali Assured Money Back Plan are highlighted in the table below.

Plan type Non-linked and non-participating money back policy
Plan basis Single/Individual
Policy term
  • 15 years
  • 17 years
  • 20 years
  • 22 years
Premium payment term
  • 5 years for a 15 year policy
  • 7 years for a 17 year policy
  • 10 years for a 20 year policy
  • 12 years for a 22 year policy
Maturity benefit Maturity benefit equivalent to 110% of sum assured will be paid
Survival benefit Post all premiums have been paid, 10% of sum assured will be paid for 9 years
Premium payment frequency Monthly, quarterly, half-yearly and yearly
Loan Loan can be availed once policy acquires surrender value. Loans starting from Rs 85,000 can be availed
Surrender value Policy can be surrendered in exchange of a surrender value, subject to the policy being in force for two years
Free look period
  • Policies sold through distance marketing can be returned within 30 days of purchase
  • Policies sold through other means can be returned within 15 days of purchase
Grace period
  • A grace period of 15 days is provided if premiums are paid every month
  • 30 days for premiums paid annually, semi-annually or quarterly
Revival/Renewal Policies can be revived within 2 years of first unpaid premium, subject to certain terms and conditions
Sum assured

Minimum – Rs 58,215

Maximum – No upper limit

Policy coverage Survival Benefit, Maturity Benefit, Death Benefit

Benefits/Advantages of Future Generali Assured Money Back Plan

offers the following benefits to policyholders.

  • High sum assured – Policyholders can choose a sum assured which matches their expectations and financial position.
  • Limited premiums – Policyholders enjoy cover for the entire policy term by paying premiums for a limited period.
  • Assured money back – Policyholders receive 10% of the sum assured for 9 consecutive years after they pay all premiums.
  • Maturity benefit – Policyholders are eligible to earn a maturity benefit equivalent to 110% of the sum assured chosen by them. This amount will be paid once the policy term is completed.
  • – Individuals are covered for the entire policy period, despite paying only limited premiums.
  • Flexibility – Policyholders have flexibility in terms of choosing the policy term and the premium payment frequency. They are also eligible to modify their payment mode, subject to certain conditions.
  • Loan – Policyholders can avail a loan against their policy, ensuring they have funds to meet any financial emergencies. Loans can be availed only after a policy has acquired surrender value.
  • Death benefit – In the event of demise of a policyholder, a death benefit will be paid to his/her nominee. This death benefit will be the highest of either 110% the sum assured, 105% of all premiums paid or 10 times the annualised premium.
  • Tax benefits – Policyholders are eligible for tax benefits under Section 80C of the Income Tax Act. Any other tax benefits which are applicable at a given time can also be claimed.

Working of Future Generali Assured Money Back Plan

Future Generali Assured Money Back Plan works on multiple levels to provide financial security and life cover to individuals. Let us look at the example of Mr. Joe, a radio producer to see how it works. Joe purchases this plan on his 35th birthday, opting for a sum assured of Rs 10 lakhs and a policy term of 20 years. He is now expected to pay premiums for 10 years. He pays an annual premium towards maintaining this policy, expecting financial security for himself and his family.

Consider the following scenarios to understand the benefits involved.

Scenario 1: Joe pays all his premiums for 10 years, post which he will receive 10% of the sum assured, or Rs 1 lakh every year. This payment will be made to him for the next 9 years. On maturity of the policy, i.e. 10 years after all premiums are paid, he will receive an additional 110% of the sum assured, i.e. Rs 11 lakhs, thereby earning a total of Rs 20 lakhs over this period.

Scenario 2: Joe pays an annual premium for 9 years, but passes away in the 10th year. In this case, his nominee (wife) will receive a death benefit which is equivalent to the highest of the following:

  • 1.1 times the sum assured
  • 105% of total premiums paid by Joe
  • 10 times the annualised premium paid by Joe before his death

The policy will terminate once this amount is paid.

Premium Payment

The table below highlights the different options when it comes to paying the premium for Future Generali Assured Money Back Plan.

Policy Term Premium Payment Term Minimum Annualised Premium Premium Payment Frequency
15 years 5 years Rs 18,000 Yearly, half-yearly, quarterly and monthly
17 years 7 years Rs 18,000 Yearly, half-yearly, quarterly and monthly
20 years 10 years Rs 24,000 Yearly, half-yearly, quarterly and monthly
22 years 12 years Rs 24,000 Yearly, half-yearly, quarterly and monthly


This plan cannot be enhanced with riders.

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

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