Future Generali India Life Insurance Company Limited is now Generali Central Life Insurance Company Limited. Generali Central Life Insurance Company Limited – A joint venture between Generali – one of the world’s leading insurers and Central Bank of India, India’s finest nationalised bank.
Future Generali India Life Insurance Company Limited is now Generali Central Life Insurance Company Limited. Generali Central Life Insurance Company Limited – A joint venture between Generali – one of the world’s leading insurers and Central Bank of India, India’s finest nationalised bank.
Are ULIP Returns Taxable?
4 mins
2.6KLooking for a way to invest in a good life insurance and harness capital growth. Pooja decided to opt for a ULIP plan. After speaking with friends, she chose a single premium ULIP in 2019. The ULIP will mature in March 2024. Pooja is quite happy with her decision as her NAV shows a profit but at the same time she is also wondering if she will be taxed on the returns.
This is a very valid concern especially when ULIPs come to the end of their 5 year term. On the one hand policy holders, like Pooja get a good return on the other hand they worry about tax complications.
What is a ULIP ?
ULIP ( Unit Linked Insurance Plan ) is an insurance plan that offers the dual benefit of investment to fulfil your long-term goals, and a life cover` to financially protect your family in case of an unfortunate event. The premium paid towards a ULIP is divided into two parts. A part of it is contributed to your life cover`, and the remaining is invested in the fund of your choice. You can choose to invest in equity, debt, or a combination of both funds as per your risk appetite and goals. This makes ULIPs an ideal investment option for you and your family’s long-term goals.
ULIPs come with a lock-in of 5 years which can help you inculcate a habit of disciplined investing. Tax-saving funds have historically given double digit returns, but you need to look for a new fund every year, for one-time investment . With ULIPs, you can invest, decide on the equity and debt mix and let it
Tax benefits of ULIPs:
One of the reasons people like Pooja choose ULIPs is their tax saving benefit and capital growth. The different ways you can save tax with ULIPs:
Conclusion
We all want a little more in life- more security, more comforts and more returns. Same is true for our investments like the Unit Linked Investment plans which us the additional security along with capital growth and tax savings. Generali Central Big Dreams Plan , is a comprehensive Unit Linked Insurance Plan, that lets you create wealth while enjoying the benefits of an insurance plan at the same time. To understand which plan works best for your particular needs & how, you can visit our website or talk to our trusted and experienced advisors.
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Get Expert Advice from Your Trusted Life Insurance Partner!
Have questions? Get help and reliable support from experts at Generali Central India Life Insurance.
Explore Knowledge Center
From insurance basics to wealth-building strategies — everything you need, in one place.
Got Questions? We’ve Got Answers!
Here are answers to some of the questions you might have.
Life insurance is a financial safety net that supports your loved ones in your absence. If something happens to you, it provides them with funds to help cover everyday expenses, repay debts, and achieve future goals. It gives you peace of mind, knowing your family’s financial future is secure— no matter what.
The right plan depends on your needs.
Start by assessing your life stage, financial goals, and the needs of your family. Consider factors like your income, outstanding loans, future expenses and goals (like children’s education, foreign travel, study abroad), and desired coverage amount. We offer a wide range of plans that cover multiple goals and budgets. To get a better idea and make a confident choice consult with a financial advisor or call us on 1800 102 2355.
A good rule of thumb is to aim for coverage that's 10–15 times your annual income. Consider your family’s living expenses, outstanding loans, children’s education, and long-term goals. The right amount ensures your loved ones can maintain their lifestyle and meet future needs— even in your absence.
We would love to help you choose and buy the right policy for your needs. Call our toll-free number 1800 102 2355 or drop us an email at care@generalicentral.com.
Reach out to us in any way that you prefer, and our team of experts will soon get back to you!
Disclaimers
Understand your policy better with key details and insights into our Generali Central Life Insurance.
This Product is not available for online sale. Life Coverage is included in this Product. For detailed information on this plan including risk factors, exclusions, terms and conditions etc., please refer to the product 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. If you have any request, grievance, complaint or feedback, you may reach out to us at care@generalicentral.com For further details please access the link: www.generalicentrallife.com/customer-service/grievance-redressal-procedure.
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