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.
ULIPs: The only market-linked product not under LTCG
2 mins
2.2KIn 2018, the Union Budget of India stated that Long Term Capital Gains (LTCG) tax would be levied on mutual fund returns. The policy is as follows-
10.4% tax rate will be charged on profits exceeding ₹1 lakhs made from equity mutual fund schemes if units are held for over a year.
One exception to the LTCG tax policy is Unit Linked Insurance Plans (ULIPs). ULIPs allow you the dual benefit of life cover through insurance and wealth creation through market-linked investments. In addition to not being subjected to LTCG tax, there are many other tax benefits of ULIPs.
Tax Structure of ULIPs
ULIPs fall under the Exempt-Exempt-Exempt category, which means they are tax-exempted at the investment, accumulation and maturity stage. As ULIPs have an insurance component, they have a tax structure similar to traditional life insurance. Specifically, the tax benefits of ULIPs fall under Section 10(10D) and Section 80C of the Income Tax Act (ITA). According to Section 10(10D), if the maturity amount of ULIPs is a minimum of 10 times the cost of annual premiums, no tax is levied on it.
Most ULIPs require a lock-in period of at least 5 years, which ensures that you do not dip into your savings and improves financial discipline. Moreover, with ULIPs, you can reap the benefits of equity-linked growth without the tax burden of LTCG tax. Additionally, the death benefit with ULIPs also remains tax-free.
ULIPs offered by Generali Central Life Insurance give you the flexibility to switch between funds and invest in plans tailored to your risk appetite. Offerings include equity-oriented, debt-oriented, or hybrid funds that have varying levels of exposure to equity and debt. This allows you to pick the funds that are best suited to your financial goals.
For instance, the Future Central Big Dreams Plan is a comprehensive ULIP geared towards a variety of needs. The investor gets to pick from 6 different funds that range from low risk to high risk. Based on personal goals, the investor can choose between a retirement-focused plan, a wealth-generating plan, and a plan to financially secure the dreams of their loved ones.
Suggested Plans
Related Posts
We foster an inclusive workplace where diverse perspectives thrive, and every individual feels valued, respected, and empowered.
Tax Hacks
What are the special income tax benefits for women?
4 mins
18.8K
Posted on: Jul 30, 2025
Tax Hacks
What is the section 10(10D) tax benefit of Generali Central Big Dreams Plan?
2 mins
3.9K
Posted on: Jul 22, 2025
Tax Hacks
Which Generali Central Life Insurance plan can give me section 80C tax benefits?
2 mins
2.9K
Posted on: Jul 22, 2025
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.
Subscribe to get our best content in your inbox
Subscribe to our newsletter and stay updated.