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.
❯ Blog❯Tax Hacks❯Which Generali Central India Life Insurance Plan Can Give Me Section 80c Tax BenefitsWhich Generali Central Life Insurance plan can give me section 80C tax benefits?
2 mins
2.9KUnder section 80C of the Income Tax Act, 1961, some investments and expenditures allow taxpayers to reduce their taxable income by up to ₹ 1.5 lakh in a financial year.
With Generali Central Life Insurance , you can take maximum advantage of section 80C tax benefits by investing in an online term plan, ULIP or annuity plan. Let’s understand how you can maximise your tax savings with these Generali Central Life Insurance products.
Generali Central Flexi Online Term Plan
Generali Central Flexi Online Term Plan is a term life insurance plan with unique benefits. Under this plan, the insured gets basic life cover and fixed or increasing income protection or a combination of all the three elements in a single term plan. Generali Central Flexi Online Term Plan offers life cover up to 75 years of age. Premiums paid under this policy are eligible for section 80C tax benefits if the premium is not more than 10% of the sum assured .
Generali Central Big Dreams Plan
Generali Central Big Dreams Plan is a unit linked insurance plan (ULIP) that provides you with life insurance protection, deductions under section 80c and excellent returns on your investment. The only condition is that the premium amount should be less than or equal to 10% of the sum assured
One of the unique features of the Generali Central Big Dreams Plan is extra allocation on your ULIP premium. If you pay your premium within the period, Generali Central Life Insurance allots up to 7% extra units to your fund. Other benefits of this ULIP plan include zero allocation and admin charges, which again help you generate better returns on your investment.
Section 80C tax benefits eligibility
For these policies to be eligible for deductions under section 80C , it must meet the following terms:
- ULIP plans must be continued for at least 5 years
- Premiums have to be paid by cheque or online mode
- Premium paid in any financial year should not exceed 10% of the sum assured
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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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