Plans are available on a single life, joint life or multiple lives basis. The maximum number of Lives Assured under a Plan is six.
The minimum age at outset for any Life Assured is 19 next birthday.
The maximum age at outset for a Life Assured is 75 next birthday.
For “Joint Life, First Death” cases, this requirement relates to the older Life Assured.
For “Multiple Lives, Last Survivor” cases, this relates to the youngest Life Assured.
The Death Benefit will be paid out following our receipt of proper notification of the Relevant Death, being:
— For a “Single Life” Plan – the death of the only Life Assured;
— For a “Joint Life First Death” Plan – the death of the rst of the two Lives Assured to die;
— For a “Multiple Lives Last Survivor” Plan – the death of the last surviving of the, two or more, Lives Assured.
Death Benefit:
As a Planholder you may, at outset or at any time during the life of your Plan, nominate one or more Beneficiaries to receive the Death Benefit.
If the Relevant Death occurs before your Plan has been fully surrendered we will pay the Death Benefit.
The amount of the Death Benefit will normally be 101% of the Investment Value (which is 101% of the total Units held multiplied by the available Bid Price for each selected Fund).
On settlement of the claim for Death Benedit, the Plan will terminate and all Generali's liabilities under that Plan will cease.