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About Generali Central Long Term Income Plan

How This Plan Works

Get Life Cover For Financial Security

During the premium paying term and while receiving income

Get Two Plan Options To Choose From:

Plan for yourself
Plan for yourself & loved ones

Survival Benefit

Get assured payout after you survive the policy's duration as per the income option and survival bene­fit payout frequency chosen

Maturity Benefit

Receive sum assured on maturity plus maturity loyalty addition, upon survival till the end of the policy term subject to payment of all due premiums

Death Benefit

In case of unfortunate demise of the life assured during the policy term, the death benefit in this plan secures fi­nancial wellbeing for the family

Understand The Policy Better

Here’s an example of how a policy holder’s life can be financially secured in case of unfortunate life events

Rahul 35 year old (healthy man)

Enjoy Life cover

During the premium paying term as well as while receiving income

Guaranteed Benefits

On death, survival and maturity

Guaranteed Long Term Income

For up to 50 years

Option To Get Income From As Early As Next Month From Policy Start Date

Increasing Income Loyalty Additions

From the 11th policy year till the end of the policy term

In Case Of Death Of Life Assured

Get the option of continuity in income benefit for family

Tax Benefits

Exemptions on the premium(s) paid and benefi­t received as per the prevailing income tax laws

Disclaimers

This Product is not available for online sale. For detailed information on this plan including risk factors, exclusions, terms and conditions etc., please refer to the sales brochure and consult your advisor, or, visit our website before concluding a sale.

Tax benefits are as per the Income Tax Act 1961 and are subject to any amendment made thereto from time to time. You are advised to consult your tax consultant.

Future Group's and Generali Group's liability is restricted to the extent of their shareholding in Generali Central Life Insurance Company Limited. (IRDAI Regn. No.: 133) (CIN: U66010MH2006PLC165288) | Regd. & Corporate Office address: Unit 801 and 802, 8th floor, Tower C, Embassy 247 Park, L.B.S. Marg, Vikhroli (W), Mumbai – 400083 | Email: care@futuregenerali.in | Call us at 1800 102 2355 | Website: life.futuregenerali.in | Fax: 022-40976600 | UIN: 133N090V02| ARN : ADVT/Comp/2022-23/February/922

Insurance is the subject matter of solicitation. AU Small Finance Bank Limited ("AU Bank") with registered office at 19-A, Dhuleshwar Garden, Ajmer Road,Jaipur- 302001, Rajasthan (CIN: L36911RJ1996PLC011381) is a corporate agent (Composite, IRDAI Reg No.: CA0515 valid till 30/08/2026) of Future Central Life Insurance Company Limited. The purchase by AU Bank’s customer of any insurance products offered by Generali Central Life Insurance Company Limited is purely on voluntary basis Tel.: 1800 1200 1200 / 1800 26 66677;Website:www.aubank.in. The insurance products offered here are underwritten by Generali Central Life Insurance Company Limited .

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS

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

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Get Two Plan Options To Choose From:

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    Option 1 - Plan for yourself

    Receive Survival Benefits and Maturity Benefit upon survival. Death Benefit is payable to your Nominee.

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    Option 2 - Plan for yourself and your loved ones

    Family’s goals do not change even if you are not around. Ensure the continuity of policy benefits for the family in case of death of the Life Assured, without any liability to pay future premiums. A lump sum is paid to the nominee upon the death of Life Assured. In addition, survival and maturity benefits continue as scheduled.

Survival Benefit

The plan offers two income options to choose from under both plan options.

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    Immediate income

    The survival bene­fit starts immediately and is paid annually in arrears till the end of the policy term.

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    Deferred income

    The survival benefi­t starts after 5 years from the inception of the policy and is paid annually in arrears till the end of the policy term.

You can choose to receive the survival bene­fits in yearly, half-yearly, quarterly or monthly frequency.

The survival bene­fit is payable in arrears upon the survival of the life assured on payout due dates, subject to payment of all due premiums. The survival benefi­t shall be equal to the sum of guaranteed income plus income loyalty addition where:

· Guaranteed Income: The Guaranteed Income varies based on Annualized Premium (excluding applicable taxes, rider premiums, loadings for modal premium and underwriting extra premiums, if any), Plan Option, Income Option, Entry age of Life Assured, Policy Term and Premium Payment Term.

· Income Loyalty Addition: The Income Loyalty Addition shall enhance the Survival Benefit payable starting from the 11th policy year till the end of the Policy Term, subject to payment of all due premiums. The Income Loyalty Addition is defined as a percentage of Guaranteed Income

Maturity Benefit

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    Sum assured on maturity is equal to the Sum assured.

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    Where, sum assured is equal to annualized premium (excluding applicable taxes, rider premiums, loadings for modal premium and extra underwriting premiums, if any) times premium payment term.

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    Maturity loyalty addition is equal to sum assured on maturity.

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    The policy terminates on the payment of the maturity benefit under both Plan options.

Understand The Policy Better

Option 1

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    Personal information

    Rahul is a 35 year old healthy man.

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    Insurance policy

    Future Generali Long Term Income Plan – Option 1 with Immediate Income option

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    Policy details

    Policy Term – 50 years
   

    Premium Payment Term – 10 years


    Annual Premium (excluding applicable taxes) – ₹1,00,000

    Sum Assured - ₹10,00,000


    Guaranteed Income - ₹20,079 per annum


    Survival Benefit Payout Frequency - Yearly

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    Survival benefit

Death Benefit

In case of unfortunate demise of the Life Assured during the Policy Term, the Death

Benefit in this plan secures fi­nancial wellbeing for the family. The Death Bene­fit varies as

per the Plan Option you have chosen:

  • a) Option 1

     In case of unfortunate demise of the Life Assured during the Policy Term, the Life Assured's nominee shall receive the Death Bene­fit as specifi­ed below, provided the policy is in force and all due premiums till the date of death have been paid.

    The Death Benefit shall be highest of:

     i. Sum Assured on Death or

     ii. 105% of Total Premiums Paid (excluding applicable taxes, rider premiums and extra premiums, if any) as on date of death or

     iii. 150% of Total Premiums Paid (excluding applicable taxes, rider premiums and extra premiums, if any) as on the date of death minus the Total Survival Benefi­t already paid or

     iv. Surrender value as on the date of death

    Where,

    Sum Assured on Death is 10 times the Annualized Premium (excluding applicable taxes, rider premiums and underwriting extra premiums, if any).

    The policy will terminate on payment of the entire Death Bene­fit as defi­ned above.

  • b) Option 2

     In case of unfortunate demise of the Life Assured during the Policy Term, the Life Assured's nominee shall receive the Death Benefit as specifi­ed below, provided the policy is in force and all due premiums till the date of death have been paid.

    The Death Benefit payable shall be:

    i. A lump sum payout equal to the Sum Assured on Death will be paid at the time of settlement of death claim.

    Where,

    Sum Assured on Death is 10 times the Annualized Premium (excluding applicable taxes, rider premiums and underwriting extra premiums, if any).

    ii. The policy will continue to pay the Survival Benefits till the end of the Policy Term as scheduled and the Maturity Benefit as scheduled.

    iii. No future premiums are required to be paid after the death of the Life Assured.

    The policy will terminate on payment of the entire Death Benefit as defi­ned above.

    Under Option 2, the nominee will have no right to surrender or alter any of the conditions of the policy after the death of the Life Assured except change in the frequency of Survival Benefit payouts.

About Generali Central Long Term Income Plan

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    Generali Central Long Term Income Plan is a Life Insurance Savings Plan that provides you long term ­financial support through guaranteed long-term income, that too increasing with time along with much-needed life protection for you and your family, so that you enjoy all your life milestones without any worry.

How this plan works

  • 1. Rahul, a 35 year old healthy man purchases Generali Central Long Term Income Plan – Option 1 with Immediate Income option.

    Policy Term – 50 years

    Premium Payment Term – 10 years

    Annual Premium (excluding applicable taxes) – ₹ 1, 00, 000

    Sum Assured - ₹ 10, 00, 000

    Guaranteed Income - ₹ 20,079 per annum

    Survival Benefit Payout Frequency - Yearly

    On payment of all due premiums and upon his survival on the payout due dates, Rahul will receive:

    Survival Benefits annually from the end of the 1st policy year till the end of the 50th policy year. He will receive a total Survival Benefits of ₹ 28, 11, 105

    He will also receive a Maturity Benefit at end of the Policy Term of ₹ 20, 00, 000

    Total Benefits Received (Survival Benefits + Maturity Benefit): 48,11,105

    The policy will terminate on payment of Maturity Benefit

     

    In case of Rahul’s death in the 5th policy year, his nominee receives Death Benefit of Rs. 10,00,000

    Death Benefit shall be highest of:

    A. Death Sum Assured of 10,00,000

    B. 105% of Total Premiums Paid (as on date of death) i.e. 5,25,000

    C. 150% of Total Premiums Paid (as on date of death) minus Total Survival Benefits already paid i.e. ₹ 6, 49, 605.

    D. Surrender Value (as on date of death) i.e. ₹ 1, 49, 605

    The policy will terminate on payment of Death Benefit

    1. Rahul, a 35 year old healthy man purchases Generali Central Long Term Income Plan – Option 2 with Immediate Income option.

    Policy Term – 50 years

    Premium Payment Term – 10 years

    Annual Premium (excluding applicable taxes) – ₹ 1, 00, 000

    Sum Assured - ₹ 10, 00, 000

    Guaranteed Income - ₹ 15, 902 per annum

    Survival Benefit Payout Frequency - Yearly

    On payment of all due premiums and upon his survival on the payout due dates, Rahul will receive:

    Survival Benefits annually from the end of the 1st policy year till the end of the 50th policy year. He will receive a total survival benefit of ₹ 22, 26, 320

    He will also receive a maturity benefit at end of the Policy Term of ₹ 20, 00, 000

    Total Benefits received (Survival Benefits + Maturity Benefit): ₹ 42, 26, 320

    The policy will terminate on payment of Maturity Benefit

     

    It is assumed that Rahul’s death occurs in the 5th policy year, in that case his nominee receives:

    a. An immediate lumpsum i.e. Sum Assured on Death of ₹ 10, 00, 000.

    b. No future premiums are required to be paid after the death of the Life Assured.

    c. The nominee will also receive the remaining survival benefits till the end of the policy term, 

    d. Additionally, nominee receives maturity benefit at the end of the policy term of ₹ 20, 00, 000.
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