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Central Bank of India acquires Future Enterprise Limited’s 25.18% stake in Future Generali India Life Insurance, marking a strategic move to strengthen its presence in the insurance sector.

GUARANTEED INCOME PLANS

In the fast-paced lifestyle of today, even the little luxuries that we enjoy with our family make the loveliest memories. What if you could appreciate these moments without stressing over the related expenses? An extra income stream could make a difference. A savvy investment choice today can go far in ensuring that the lifestyle, you want for your loved ones, would for sure become a reality.

Along with meeting various goals of your dependents and supporting them financially, one important key in leading a stress-free life is having “Certainty in Life”. For instance, having the assurance that your salary will get credited in your account on time or the goals of your loved ones will get fulfilled, or their future will be secure even in your absence. After all, having these certainties can give you much-needed peace of mind. Guaranteed Plans can help you get this reassurance.

Guaranteed Plans recognize your hard work and efforts to provide your dear ones with a comfortable life now and in the future. These life insurance plus savings oriented plans, guarantee returns in the form of a lump sum payout or regular payouts over a period of years.

What is Guaranteed Plan?

A guaranteed plan provides assured benefit to the policyholders. This traditional insurance plan provides life cover, together with guaranteed payouts, if any and maturity benefits, if any. Guaranteed plans, thus, act as a another source of income by providing assured payout(s).

  • Any individual between 18 to 60 years of age may buy a guaranteed plan and may avail various advantages that accompany it
  • On account of Life Assured’s demise during the policy term, the Death Benefit is paid on to his/her nominee
  • The policy terms of guaranteed plans may vary from 10 to 30 years
  • The frequency of payouts may be chosen by the policyholder (lump sum, monthly or annual) depending upon the options available under the plan.

A guaranteed plan, thus, helps policyholders to fulfil their goals like funding their dream vacation, saving for their children’s education and securing their family’s future.

What Do You Need to Do Before You Buy Guaranteed Policies?

Things that individuals need to consider before opting for a Guaranteed Policy are:

  • What are the returns you are looking at?
  • The time period of the payouts and the premium to be paid
  • The type of income generation required

The above facts are influenced by the investor’s:

  • Present lifestyle
  • Earnings
  • Future lifestyle they seek
  • Tax savings they want
  • Risk cover

What Are the Benefits of Guaranteed Plans?

Maturity Benefits



If the life assured has paid all the premiums and if he survives till the end of the policy term, the maturity benefits are paid as per the policy benefits.

Death Benefit



In case of life assured's demise during the policy term, the death benefit is paid, provided all due premiums till date have been paid.

Tax Benefit



Tax benefits may be applicable as per Section 80C and Section 10 (10D) of the Income Tax Act 1961.

Modes of Premium payment



Monthly, Half-yearly, Quarterly, Annually via cash, cheque, credit card, debit card, ECS, etc as per features available under the plan

Guaranteed Benefit



The benefits under the plan are guaranteed.

Choose The Premium Paying Term



One may choose to pay premiums for 5 to 15 years as per the plan

The benefits and options available under a guaranteed plan depends upon the features and benefits of the insurance plan being bought.

How Generali Central’s Guaranteed Plans Work?

Generali Central’s Guaranteed Plans help policyholders create a another source of income, which can be utilized by them to accomplish their goals. The working procedure of these plans is extremely easy to understand. Towards the beginning, policyholders need to choose one of the Generali Central's Guaranteed plan and do the accompanying:

  • Choose a sum assured/premium to be paid as per respective plan
  • Choose the premium payment term and policy term
  • Pay the premium
  • At the end of the premium payment or policy coverage period, get ready to receive the guaranteed income payouts as per policy benefits

Therefore, with Generali Central’s Guaranteed Plans you may:

  • Secure the future of your dear ones in your absence
  • Plan your family’s goals with a lump sum at maturity
  • Create a sound source of second income
  • Meet significant milestones of your children’s education
  • Fund your annual vacations

Why Should Your Prefer Guaranteed Plans?

Enjoy Assured Income

Enjoy Assured Income

Receive Lump Sum on Maturity

Receive Lump Sum on Maturity

Get Life Cover

Get Life Cover

Get Additional Protection Through Riders

Get Additional Protection Through Riders

List of Generali Central Guaranteed Plans

Generali Central Money Back Super Plan - UIN 133N088V05

An Individual, Non-Linked, Non-Participating (Without Profits), Savings, Life Insurance Plan.

This is a non-participating life insurance plan that offers money backs at defined intervals (based on category opted) along with the benefit of life insurance cover.

Reasons to Opt for Generali Central Money Back Super Plan

  • Two plan options based on your financial milestones. These options vary by sum assured and the amount of survival benefit payable.
  • Enjoy survival benefits during the policy term based on the category chosen within each option
  • Added benefit of Guaranteed Additions which get accumulated, from eighth policy year till the end of the policy term
  • You can buy this plan up to the age of 60 years

Money Back Super Plan (NON-POS) Money Back Super Plan (POS) SEND AN ADVISOR

What are the benefits of Generali Central Money Back Super Plan ?

Survival Benefits

You can choose the duration of Money back income (Survival Benefits) basis your need (from the below mentioned Categories):

  • Platinum: Paid annually from the end of the 6th year, except last policy year
  • Gold: Paid annually from the end of the 8th year, except last policy year
  • Silver: Paid annually from the end of the 10th year, except last policy year

Maturity Benefit

At the end of policy term, you receive a lumpsum benefit i.e. Sum Assured along with accrued guaranteed additions

Death Benefit

The Death Benefit shall be highest of the following:

  • 105% of total premiums paid as on date of death (excluding the applicable taxes, rider premiums and underwriting extra premiums, if any) OR
  • Sum Assured on Death i.e. 10 times of annualized premium (excluding the applicable taxes, rider premiums and underwriting extra premiums, if any) plus accrued Guaranteed Additions, if any.

Generali Central New Assured Wealth Plan - UIN 133N085V03

Individual, Non-Linked, Non-Participating(Without Profits), Savings, Life Insurance Plan.

This is a guaranteed life insurance plan that offers benefits by way of Guaranteed Additions and Guaranteed Sum Assured on maturity along with life cover.

Reasons to opt Generali Central New Assured Wealth Plan

  • 2 flexible options to ensure that you have an ideal cover which is best suited to your savings goals.
  • Added benefit of Guaranteed Additions which get accumulated, from eighth policy year till the end of the policy term.
  • Get the flexibility to select your Policy Term and Premium Payment Term depending on your needs and fulfill your savings goals.
  • You can buy this plan up to the age of 60 years under Option 1
  • Tax benefits as per the provisions of Income Tax laws. These benefits are subject to change as per the current tax laws. Please consult your tax advisor for more details

New Assured Wealth Plan (NON-POS) New Assured Wealth Plan (POS) SEND AN ADVISOR

What are the benefits of Generali Central New Assured Wealth Plan ?

Guaranteed Additions

Enjoy Guaranteed Additions as a percentage of sum assured, starting from the end of 8th Policy year till the end of the policy term, subject to payment of all due premiums

Guaranteed Maturity Benefit

Receive a Guaranteed Maturity Benefit, on survival till the end of the Policy Term subject to all your premiums due being paid

Death Benefit

  • Under Option 1, upon the death of the life assured Death Sum Assured plus Accrued Guaranteed Additions, if any, is paid to the nominee.

  • Under Option 2 In addition to death sum assured payable on death, Policy continues even after the death of the Life Assured till the end of Policy Term with no further premiums to be paid and accrual of guaranteed additions, which is paid along with the sum assured at original maturity date.

Generali Central Assured Income Plan - UIN 133N054V05

Individual, Non-Linked, Non-Participating(Without Profits), Savings, Life Insurance Plan

With Generali Central Assured Income Plan, one can choose any of the two policy term options. The benefits are:

  • Regular assured annual/ monthly income will begin from the end of the subsequent year from maturity
  • An additional benefit ranging from 1 - 4.5 times the annualized premium (depends on life assured's age) will be paid along with the last income payout

The assured income plan also comes with a death cover which helps to ensure that even in your absence, your family leads the lifestyle that you always wanted for them.

Know More SEND AN ADVISOR

What are the benefits of Generali Central Assured Income Plan ?

Guaranteed Income

Under staggered payout option, By paying premium over 11/15 years, one can receive guaranteed income over 11/15 years.

Additional Benefit

Get 1 to 4.5 time the annualized premium as the additional benefit along with the last payout.

Death Benefit

15.3 to 27 times of annualized premium depending on the life assured's age at the time of policy purchase

Tax Benefits as may be applicable

Under Section 80C
Under Section 10 (10D), which ever applicable

Generali Central Assured Education Plan - UIN 133N057V03

Individual, Non-Linked, Non-Participating(Without Profits), Savings, Life Insurance Plan
Generali Central’s Assured Education Plan ensures payouts at key educational milestones of a child and offers life insurance cover to the insured individual, who is generally parent. The Assured Education Plan provides adequate funds to sponsor your child’s education, ensuring that his/her education is not compromised even in your absence. Therefore, it acts as an ideal launching pad for your kid’s bright future.
Reasons to opt Generali Central Assured Education Plan:

  • This systematic savings plan helps to save until your child turns 17, thus allowing you to pay for his/her graduation or post-graduation fees
  • The plan offers flexibility to choose guaranteed payouts through three options
  • Availability of loan facility up to 85 percent of the surrender value once the policy has acquired surrender value.

Know More SEND AN ADVISOR

What are the benefits of Generali Central Assured Education Plan ?

Maturity Benefit

Maturity benefit paid at the end of the policy term is structured as per the payout option chosen.

Death Benefit

  • On account of life assured's demise, death sum assured is paid immediately to the nominee, which is highest of:
    • Maturity Sum assured which is equal to sum assured
    • 105 percent of total premiums paid as on date of death (excluding applicable taxes, riders premium and extra premiums, if any)
    • 10 times the annualized premium (excluding applicable taxes, riders premium, underwriting extra premiums and loadings for modal premium, if any)
    • Absolute amount payable on death, which is equal to the Sum assured

In addition to this,

  • All future premiums are waived off
  • Pay 5% of the Sum Assured immediately and on every death anniversary of the Life Assured till your child turns 17 years.
  • Pay Maturity benefit as per the chosen option while purchasing the plan

Riders

Coverage can be enhanced by purchase of additional riders like:

  • Generali Central Non-linked Accidental Death Rider (UIN: 133B023V01)
  • Generali Central Non-linked Accidental Total & Permanent Disability Rider (UIN: 133B024V01)
  • Generali Central Accidental Benefit Rider (UIN: 133B027V02)

FREE LOOK CANCELLATION

In case you disagree with any of the terms and conditions of the policy, you can return the policy to the Company within 15 days (30 days if the policy is sold through the Distance Marketing Mode) of the receipt

Please note that Guaranteed incomes/ Guaranteed benefits are subject to policy remaining in force

Generali Group’s and Central Bank of India’s liability is restricted to the extent of their shareholding in Generali Central Life Insurance Company Limited.

First assurance through Guaranteed Additions throughout the Policy Term payable at Maturity and second assurance through Lump Sum Maturity Sum Assured over and above Guaranteed Additions, provided all Due Premiums have been paid.

The Guaranteed Additions are accumulated as a percentage of Sum Assured at a simple rate for each completed Policy Year, subject to payment of all Due Premiums

DISCLAIMER

REGISTERED & CORPORATE OFFICE
Generali Central Life Insurance Company Limited (Formerly known as ‘Future Generali India Life Insurance Company Limited’) (IRDAI Regn. No.: 133) (CIN: U66010MH2006PLC165288). Regd. Office & Corporate Office address: Unit 801 and 802, 8th floor, Tower C, Embassy 247 Park, L.B.S. Marg, Vikhroli (W), Mumbai - 400083. 

BEWARE OF SPURIOUS / FRAUD PHONE CALLS!
IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint

Product Name UIN Product One Liner
Generali Central New Assured Wealth Plan 133N085V03 Individual, Non-Linked, Non-Participating(Without Profits), Savings, Life Insurance Plan.
Generali Central Assured Income Plan 133N054V05 INDIVIDUAL, NON-LINKED, NON-PARTICIPATING(WITHOUT PROFITS), SAVINGS, LIFE INSURANCE PLAN
Generali Central Assured Education Plan 133N057V03 INDIVIDUAL, NON-LINKED, NON-PARTICIPATING(WITHOUT PROFITS), SAVINGS, LIFE INSURANCE PLAN

Frequently Asked Questions

What is the premium payment frequency in Guaranteed Plans?

The premium payment frequency is the number of times during the policy year that the policyholder needs to pay premiums. Usually, for guaranteed plans, the premium payment frequency options are the following which may vary as per the product features available under the products:

  • Monthly
  • Quarterly
  • Semi-annual
  • Annual
What is the policy term in Guaranteed plans?

The policy term depends on the type of policy chosen. For instance, the policy term under some of Generali Central’s Guaranteed Plans are as follows:

  • Generali Central Big Income Multiplier Plan: 14 years
  • Generali Central Assured Income Plan: 11 or 15 years
What is the premium payment term in guaranteed plans?

In guaranteed plans, the premium payment term denotes the total number of years the policyholder needs to pay premium. The premium payment term for some of Generali Central's Guaranteed Plans is as follows:

  • Generali Central Big Income Multiplier Plan: 12 years
  • Generali Central Assured Income Plan: 11 or 15 years
For guaranteed plans, what is the minimum and maximum entry age?

The minimum and maximum age for guaranteed plans is usually 7 and 50 years respectively. However, one should check the entry age under individual plans as the age may differ from product to product.

For guaranteed plans, what is the minimum and maximum maturity age?

The minimum and maximum maturity age for guaranteed income policies is usually  18 and 65 years respectively. Again, it is recommended to check the same under individual plans as it may differ from one product to product.

For more details on risk factors, terms and conditions, please refer to the product brochure and consult your advisor or visit our website before concluding a sale. Riders are not mandatory and are available for an additional cost.

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