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.
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 |
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 |
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Premium payment term |
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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 |
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Grace period |
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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 |
offers the following benefits to policyholders.
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:
The policy will terminate once this amount is paid.
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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