Generali Central Money Back Super Plan (Non POS Variant)

What is the Generali Central Money Back Super Plan?

The Generali Central Money Back Super Plan is a regular premium paying life insurance product offered by Generali Central Life Insurance. Its primary purpose is to provide policyholders with financial stability through guaranteed periodic payouts. This investment plan operates by allowing policyholders to choose from two distinct options (Option 1 and Option 2) and three payout categories (Platinum, Gold, and Silver). Based on the selected category, policyholders receive fixed survival benefits during the policy term. Furthermore, the plan enhances wealth accumulation by offering guaranteed additions starting from the eighth policy year, culminating in a lump-sum payout at maturity, while ensuring continuous life cover throughout the policy duration.

Features of Generali Central Money Back Super Plan

• Guaranteed Benefits: The plan ensures guaranteed payouts on survival, maturity, and death, providing absolute financial certainty.
• Customizable Plan Options: Policyholders can choose between Option 1 and Option 2, which vary in the sum assured and the percentage of survival benefits payable.
• Flexible Payout Categories: The plan offers three categories—Platinum, Gold, and Silver—so you can decide when your regular survival benefits begin.
• Guaranteed Additions: The policy accrues guaranteed additions at a simple rate as a percentage of the Sum Assured for each completed policy year, starting from the end of the 8th policy year.
• Customizable Life Cover: You have the option to choose your life cover at inception by selecting from different Death Benefit Multiples.
• Optional Rider Enhancements: You can enhance your coverage by opting for up to four different riders at a nominal additional cost.
• Tax Benefits: You may be eligible for tax savings on the premiums paid and the benefits received, subject to the prevailing Income Tax laws.

Eligibility Criteria for Generali Central Money Back Super Plan

Benefits of Generali Central Money Back Super Plan

• Death Benefit: In the unfortunate event of the life assured's demise during the policy term, the nominee receives the highest of either 105% of the total premiums paid till the date of death, or the Sum Assured on Death plus any Accrued Guaranteed Additions. The Sum Assured on Death is calculated as the chosen Death Benefit Multiple multiplied by the Annualized Premium.
• Maturity Benefit: Upon surviving till the end of the policy term, the policyholder receives a Guaranteed Maturity Benefit. This consists of the Sum Assured on Maturity (which is equal to the Sum Assured) plus all accrued guaranteed additions.
• Survival Benefit: Policyholders receive regular payouts as a percentage of the Sum Assured based on their chosen category. Under the Platinum category, payouts start from the end of the 6th year; under Gold, from the end of the 8th year; and under Silver, from the end of the 10th year. These continue until one year prior to the end of the policy term. The payout percentage ranges from 11.0% to 30.0% depending on the Option and Category chosen.
• Guaranteed Additions: The plan bolsters your savings by adding Guaranteed Additions at a simple rate for each completed policy year, starting from the end of the 8th policy year until maturity. These are calculated as a percentage of the Sum Assured.
• Tax Benefits: Premiums paid and payouts received may be eligible for tax benefits under the prevailing Income Tax laws, as amended from time to time.

Riders Under Generali Central Money Back Super Plan

• Generali Central Non-Linked Accidental Death Benefit Rider (133B054V01): Offers 100% of the Rider Sum Assured as an additional payout if the life assured dies due to an accident within 180 days of the event during the rider term.
• Generali Central Non-Linked Accidental Total & Permanent Disability Rider (133B056V01): Provides an additional lump sum equal to 100% of the Rider Sum Assured if the life assured suffers an accidental total and permanent disability lasting continuously for at least 180 days.
• Generali Central Non-Linked Critical Illness Rider (UIN: 133B058V01): Offers a lump sum payout of 100% of the Rider Sum Assured upon diagnosis of covered critical illnesses. You can customize it by choosing coverage for 10, 30, or 60 critical illnesses.
• Generali Central Non-Linked Term Rider (133B060V01): Enhances the life cover by providing an additional 100% of the Rider Sum Assured in the event of the life assured's death during the rider term.

Additional Details of Generali Central Money Back Super Plan

• Premium Payment Options: Premiums can be paid Yearly, Half Yearly (52.0% of annual), Quarterly (26.5% of annual), or Monthly (8.83% of annual).
• Grace Period: A grace period of 30 days is available for Yearly, Half-yearly, and Quarterly modes, and 15 days for the Monthly mode, to pay missed premiums.
• Free-look Period: Policyholders can return the policy within 30 days of receiving the Policy Document if they disagree with the terms and conditions.
• Surrender Rules: The policy can be surrendered for cash at any time after the completion of the first policy year, provided one full year's premium has been paid. Generali Central Life Insurance will pay the higher of the Guaranteed Surrender Value (GSV) or the Special Surrender Value (SSV).
• Paid-up Value: If at least one full year's premium is paid and subsequent premiums are missed, the policy automatically converts into a paid-up policy. While the policy retains the guaranteed additions already accrued, it will not accrue future guaranteed additions, and all future survival benefits will cease. The death and maturity benefits will be reduced proportionately.
• Revival Provisions: A lapsed or paid-up policy can be revived within five consecutive years from the due date of the first unpaid premium, subject to continued insurability and payment of overdue premiums with a 9% p.a. simple interest rate (for FY 2026-27).
• Policy Loans: Once the policy acquires a Surrender Value, a loan up to 85% of the Surrender Value can be availed. The minimum loan amount is ₹10,000, and the current interest rate for FY 2026-27 is 9% per annum compounded half-yearly.
• Nomination and Assignment: Nomination is governed by Section 39, and Assignment is governed by Section 38 of the Insurance Act, 1938.

Exclusions Under Generali Central Money Back Super Plan

• Suicide Exclusion: If the life assured commits suicide within 12 months from the policy's risk commencement date or the revival date, the nominee is entitled to receive at least 80% of the total premiums paid till the date of death or the available surrender value on the date of death, whichever is higher (provided the policy is in force).