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.
Tax Saving Child Education Plan Under Income Tax Laws
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2.5KGenerali Central Assured Income Plan is a life insurance plan that provides you with both financial cover as well as assured returns on the premiums paid by you. The benefits of this plan include:
Tax benefits:
Other benefits:
- Assured Income:Under this plan, you pay the premium for a period of time, post which you receive a regular income in the form of annual instalment payouts as per your plan
- Additional Income:There is also the unique option of securing an additional benefit ranging from 1 to 4.5 times of your premium calculated on an annual interval. This additional bonus income is paid out along with the last payout.
- Death Benefit:Since there’s a life cover, the death benefit feature is also present, with the amount ranging from 15.3 to 27.0 times of the annualised premium, including the additional benefit
- Flexibilityto choose the tenure of the plan to be between 11 to 15 years, depending on your age
Key points
- The premium you pay towards the Generali Central Assured Income Plan is eligible for tax deduction up to ₹1,50,000 or 10% of the sum assured, whichever is lower.
- Section 80C provides for a tax deduction of up to ₹1,50,000 for the combination of other payments as well. These could be PF contributions, deferred annuity etc. The premiums paid on life insurance are just a part of them.
Thus, if you are looking at a financial instrument that can combine financial protection, give assured income and tax exemption, the Generali Central Assured Income Plan will serve you well.
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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 Centre
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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