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.
Affordable Protection
Cost-effective life coverage for groups at low costs
Flexible Coverage Options
Choose between Cover options to match your group's needs
Simple Administration
One master policy covering all members with seamless management
Group, Non-Linked, Non-Participating (without profits), Single Premium or One Year Renewable Term Micro Insurance Plan. UIN: 133N103V01
Why Choose Generali Central Group Term Micro Insurance Plan?
This is a Group, Non-Linked, Non-Participating (without profits), Single Premium or One Year Renewable Term Micro Insurance Plan.
True organizational strength isn't just about growth — it's about ensuring your team and community are protected. Generali Central Group Term Micro Insurance brings you the dual advantage of comprehensive life coverage and financial inclusion, all at nominal costs.
With flexible coverage options, easy administration, and the freedom to choose between single premium or renewable terms, this plan gives you complete control over your group's protection journey. It's the assurance you need to strengthen loyalty and provide peace of mind to every member.
Because true security comes when your solution is as inclusive as your vision.
Two Coverage Options
Level Cover for consistent protection or Reducing Cover aligned with loan schedules
Easy Group Management
Single master policy covering all members with minimal paperwork
Member-Centric Benefits
Financial security for families with direct benefit payments to nominees
Tax Benefits
Enjoy tax benefits under current tax laws for both policyholder and members
Worldwide Coverage
24×7 protection across the globe for complete peace of mind
Affordable Premiums
Cost-effective protection with Sum Assured starting from Rs. 5,000 per member
How Can You Buy the Generali Central Group Term Micro Insurance Plan?
Getting started with your life insurance plan is easy— just follow these simple steps:
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Decide the Amount of Cover
Choose the amount of term insurance cover you want for each of your members
Get Expert Advice from Your Trusted Life Insurance Partner!
Have questions? Get help and reliable support from experts at Generali Central Life Insurance.
Eligibility
Choose the plan that fits your life
Entry Age
Maturity age
Maximum: 85 years
Sum Assured Range
Maximum: Rs. 2,00,000 (per member)
At no point in time the reduced cover shall be less than the minimum Sum Assured of Rs. 5,000
Policy Term Range
One-Year Renewable: 1 year (annually renewable) (Only Level cover option is available)
Single Premium: 1 month (Level cover and Reducing cover both options are available)
Maximum:
One-Year Renewable: 1 year (annually renewable) (Only Level cover option is available)
Single Premium: 120 months (Level cover and Reducing cover both options are available)
Premium Payment Term
Minimum Group Size
Tailored Plan Options to Secure Your Future
Choose between flexible policy options that fit your needs.
Level Cover Option
Fixed coverage throughout
The Sum Assured (Life Cover) shall be chosen at inception and remains same during the policy term.
Reducing Cover Option
Coverage reduces with loan
The Sum Assured (Life Cover) reduces in line with the Loan Schedule as provided in the Certificate of Insurance.
Generali Central Group Term Micro Insurance Plan
Here’s how this plan helps you secure your goals and safeguard your loved ones:
A payment made to your nominee in case of your unfortunate demise during the policy term, ensuring your family’s financial protection.
Option 1: Level Cover
Option 2: Reducing Cover
If the life insured is a minor, the policy automatically vests on the life of the life insured once he/she attains maturity.
There is no Maturity Benefit payable in this policy.
Our Promise is Reflected in the Lives We've Touched
We bring experience, stability, and a proven approach to supporting your family and financial goals.
6019Our and Partners Branches
897,635Lives Protected
Since Inception
₹87.84 Bnof Assets Under Management
98.08%Individual Claim Settlement Ratio
FY 24-25
99.78%Group Claim Settlement Ratio
FY 24-25Data as on 31st March, 2025
Downloads
Everything you need to understand your policy, plan your future, and make informed decisions at your convenience.
Important Information & Resources
Understand your policy better with key details and insights into the Generali Central Group Term Micro Insurance Plan.
Free-Look Period (Master Policyholder and Member)
- For Master Policyholder:- In case you disagree with any of the terms and conditions of the policy/coverage, you can return the policy/Certificate of Insurance to the Company within 30 days of its receipt (whether received electronically or otherwise), for cancellation, stating your objections. We will refund the policy premium after the deduction of proportionate risk premium for the period of cover (If Applicable), stamp duty charges, cost of medical examination, if any, and stamp duty.
- For Insured Member:- On receipt of the Certificate of Insurance, the Insured Member may review the Terms and Conditions stated herein. In case the Insured Member is not satisfied with Terms and Conditions, he / she has an option to return the Certificate of Insurance to the Company within 30 days of its receipt (whether received electronically or otherwise), with a request for cancellation, stating reasons for the same. On such cancellation of the Certificate of Insurance, we will refund the premium after deducting a proportionate cost of insurance for the period covered (If Applicable); expenses incurred towards medical examinations, if any, and stamp duty.
Top-up Loans
Top Up Loans are not allowed. Any Top-up (additional loan availed) would be treated as a ‘new loan’, independent of the base loan, with corresponding new Loan Schedule and a separate Single Premium Term Cover for this additional loan. The Premium would be based on the age as on the date of availing the Top-up Loan, the loan outstanding schedule and the term during which the Top-up Loan is repayable.
Loan
No loans are available under this Group Policy either to the Group Policy holder or to the members of the Group.
Prohibition of Rebates
Section 41 of the Insurance Act, 1938, as amended from time to time, states
- No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the Premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer.
- Any person making default in complying with the provisions of this section shall be liable for a penalty which may extend to ten lakh rupees.
Suicide Exclusion Under Death Benefit
In case of death of the insured member due to suicide within 12 months from the date of commencement of risk under the policy or from the date of revival of the policy, as applicable, the nominee or beneficiary of the Policyholder shall be entitled to at least 80% of the total premiums paid* till the date of death or the surrender value available as on the date of death whichever is higher, provided the policy is in force.
*Total Premiums Paid means a total of all the premiums paid under the base product, excluding any extra premium, and taxes, if collected explicitly.
Applicability of above-mentioned suicide clause for different groups:
- For employer employee groups where participation for insurance cover is compulsory, suicide clauses as stated above will not be applicable. In other words, claims resulting from suicide will be covered.
- For employer employee groups where participation for insurance cover is on a voluntary basis, suicide clauses as stated above will be applicable.
- For non-employed employee groups, the suicide clause as stated above will be applicable.
Grievance Redressal Processes
In case you have any grievances on the solicitation process or on the Product sold or any of the Policy servicing matters, you may approach the Company in one of the following ways:
- Calling the Customer helpline number 1800-102 2355 for assistance and guidance
- Emailing at care@generalicentral.com
- You may also visit us at the nearest Branch Office. Branch locator - https://www.generalicentrallife.com/branch-locator
- Senior citizens may write to us at the following ID: senior.citizens@generalicentral.com for priority assistance
- You may write to us at: Customer Services Department- Generali Central Life Insurance Company Limited, Unit 801 and 802, 8th floor, Tower C, Embassy 247 Park, L.B.S Marg, Vikhroli (W), Mumbai – 400083
We will provide a resolution at the earliest. For further details please access the link: https://www.generalicentrallife.com/customer-service/grievance-redressal-procedure
Generali Central Life Insurance Company Limited (Formerly known as Future Generali India Life Insurance Company Limited) offers a wide range of life insurance solutions designed to protect and empower individuals at every stage of life. Whether it’s protecting your loved ones, planning for retirement, or securing long-term financial well-being, our offerings are designed to evolve with your needs. Backed by a robust distribution network and advanced digital tools, we are dedicated to delivering simplicity, innovation, empathy, and care in every experience — all anchored by our unwavering commitment to being your Lifetime Partner.
This commitment is backed by the strength of our joint venture between Generali, a global insurance leader with over 190 years of expertise, and Central Bank of India, a trusted name with a rich legacy in Indian banking.
Generali Central Group Term Micro Insurance Plan
(UIN: 133N103V01)
- Tax benefits are subject to change as per tax laws.
- For detailed information on this plan including risk factors, exclusions, terms and conditions etc., please refer to the policy document and consult your advisor, or, visit our website (www.generalicentrallife.com) 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. You are advised to consult your tax consultant. Central Bank of India’s and Generali Group’s liability is restricted to the extent of their shareholding in Generali Central Life Insurance Company Limited.
- 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: https://www.generalicentrallife.com/customer-service/grievance-redressal-procedure
Generali Central Life Insurance Company Limited (formerly known as Future Generali India Life Insurance Company Limited). (IRDAI Regn. No. 133) CIN:U66010MH2006PLC165288 Regd. and Corporate Office address: Generali Central Life Insurance Company Limited, Unit 801 and 802, 8th floor, Tower C, Embassy 247 Park, L.B.S. Marg, Vikhroli (W), Mumbai 400083.
Email - care@generalicentral.com
Call us at - 1800 102 2355
Website: www.generalicentrallife.com
BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS.
IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.
What Our Happy Customers Are Saying
Real stories, real people— hear from those who’ve taken the step of strengthening their financial security with us.
Got Questions? We’ve Got Answers!
Here are answers to some of the questions you might have.
This is a Group Term Insurance Plan designed specifically for employer-employee groups and non-employer employee groups like Micro Finance Institutions and Co-operatives. It provides affordable life coverage with a minimum Sum Assured of Rs. 5,000 per member.
Level Cover: The Sum Assured remains constant throughout the policy term. Suitable for employee welfare schemes.
Reducing Cover: The Sum Assured reduces in line with the outstanding loan amount as per the loan schedule. Ideal for loan protection schemes of MFIs and financial institutions.
For One-Year Renewable policies, members can be added or removed at renewal based on eligibility criteria and underwriting requirements.
For Single Premium policies, the coverage is fixed for the term unless a member chooses to surrender the policy as per policy terms.
If a member can prove payment of premium with proper receipt, the risk cover remains available even if the master policyholder hasn't remitted the premium to the company. Claims will not be rejected solely on this ground.
Yes, tax benefits may be available under the current Income Tax Act, 1961 for both master policyholders and members. These are subject to change based on amendments to tax laws. Please consult your tax advisor for specific guidance.