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.
Assured Returns
Get assured returns with interest rates declared monthly
Tranche-Based Flexibility
Pick 1, 3, or 5-year terms for each tranche
Multiple Benefit Coverage
Supports gratuity, leave encashment, superannuation, post-retirement and medical schemes
Generali Central Group Traditional Guarantee Plan is a Single Premium, Non-Linked, Non-Participating (without profits), Group and Yearly Renewable Traditional Life Insurance Plan. | UIN: 133N104V01
Why Choose Generali Central Group Traditional Guarantee Plan?
This is a Single Premium, Non-Linked, Non-Participating (without profits), Group and Yearly Renewable Traditional Life Insurance Plan.
Strong support for your team starts with funding long-term benefits without adding risk. Gratuity and leave encashment grow only annually, and superannuation needs steady progress. Depending on the market alone can leave you exposed when payouts are due.
The Generali Central Group Traditional Guarantee Plan keeps things simple. You get guaranteed returns, monthly interest updates, and full control over each 1, 3, or 5-year tranche. Renew, reinvest at new rates, or withdraw at the end of each term. Superannuation tranches come with a dependable 1 percent yearly guarantee.
It gives you clarity and confidence as you support your team.
Guaranteed Growth*
1% annual assured return for superannuation tranches provides predictable fund accumulation
Monthly Rate Transparency
Interest rates declared monthly on the last working day of the previous month for all tenures
Flexible Investment Tenures
Choose 1, 3, or 5-year tranche periods to match your organizational cash flow and liability timelines
Complete Maturity Control
Renew in existing tranche, reinvest in new tranche, or withdraw—your choice at each tranche end
Comprehensive Coverage
Fund gratuity, leave encashment, superannuation, and post-retirement medical schemes under one policy
Built-In Life Protection
₹10,000 sum assured per member for non-superannuation schemes with minimal mortality charges
*This will only be applicable for a Superannuation tranche. The final payout will be maximum of the declared interest rate or 1% p.a. of the policy account value at the start of the policy year.
How Can You Buy the Generali Central Group Traditional Guarantee 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
Maximum: 84 years
Maturity Age
Maximum: 85 years
Sum Assured Range
For Non-Superannuation schemes: Rs. 10,000 flat per group member
For Superannuation schemes: Not Applicable
Maximum:
For Non-Superannuation schemes:
• For life cover, sum assured is Rs. 10,000 flat per group member
• For gratuity or leave encashment benefit: As per the rules of the scheme
For Superannuation schemes: Not Applicable
Policy Term Range
Maximum: It is an annually renewable policy to continue indefinitely until its surrender, or expiry of membership term of existing members and there are no new members.
Premium Payment Term
Group Size
Maximum: No limit
Contribution from Master Policyholders
Maximum: No limit
Tranche Tenures
Generali Central Group Traditional Guarantee Plan
Here’s how this plan helps you secure your goals and safeguard your loved ones:
A lump sum amount payable at the end of the policy term, provided all due premiums have been paid— helping you achieve your long-term financial goals.
On survival till the end of the policy term under tranche, you will receive a maturity/vesting amount as maximum of declared interest rate or Assured Benefit i.e. 1% of the policy account value at the start of the policy year (applicable under Superannuation Schemes). At the end of specified period the policyholder shall have the following three options:
- Option 1: if the Master Policyholder has an existing traditional group savings policy of Generali Central Life Insurance, the maturity/vesting amount shall be transferred into that, and this matured tranche shall be closed.
- Option 2: The Master Policyholder can choose to reinvest the maturity/vesting amount in a new tranche of its choice at the prevailing interest rates and Tranche tenure. In this case the policy will continue with a new tranche created.
- Option 3 (Default Option): The Master Policyholder can choose to withdraw the entire maturity/vesting amount. Once this benefit is paid, the existing tranche will be closed. On maturity/vesting of the tranche, all bene fits in respect of the member associated to that tranche will cease and there shall be no further benefi t payable.
A payment made to your nominee in case of your unfortunate demise during the policy term, ensuring your family’s financial protection.
In case of death of the insured member / employee, the benefits payable is defined as:
For Non-Superannuation Schemes like Gratuity schemes
There is also a uniform life cover of Rs. 10,000 per member attached to this plan. The benefit payable from the policy account value shall be subject to a maximum of 10% of the policy account value at the start of the financial year. The mortality charges of 1 per 1000 of Sum Assured for this life cover will be deducted from the Policy Account for each tranche.
For Superannuation schemes
Benefit is payable in accordance with the scheme rules of the employer. The benefit payable from the policy account value shall be maximum of declared interest rate or 1% of the policy account value at the start of the policy year subject to a maximum of 10% of the policy account value at the start of the Financial Year. There are no mortality charges for Superannuation schemes.
- “Policy Account Value” is the accumulation of contributions received net of withdrawals and mortality charges plus accrued interest in a Tranche. Policy Account Value represents account value of the respective Tranche.
- “Master Policy Account Value” represents cumulative value of all tranches under the Master Policy on any given date.
Sum Assured is mandatory for Non-Superannuation Schemes like Gratuity schemes, Leave Encashment and similar employee benefit schemers. It is non-mandatory for Superannuation schemes.
A payment made to your nominee in case of your unfortunate demise during the policy term, ensuring your family’s financial protection.
For a Superannuation tranche, there will be an assured benefit applicable on death and maturity of 1% p.a. guaranteed return on the policy account value at the start of the policy year. So, the final payout on death and maturity will be Maximum of the declared interest rate or 1% pa of the policy account value at the start of the policy year
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 Traditional Guarantee Plan.
Free-Look Period (Master Policyholder)
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 account value after the deduction of proportionate risk premium for the period of cover (If Applicable), stamp duty charges and cost of medical examination, if any.
Surrender Value
We encourage you to continue your policy as planned, however, you have the option to surrender the same. Master Policyholder can surrender under the following circumstances:
- To meet death claims
- To meet normal retirement claims
- To meet other valid benefit payments as per the scheme rules
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.
Other Exclusion
We shall not be under any obligation to provide cover and shall not be liable to pay any claim or provide any benefit here under to the extent that the provision of such cover, payment of such claim or provision of such benefit would expose the Company to any sanction, prohibition or restriction under OFAC, United Nations resolutions or the trade or economic sanctions, laws or regulations of the European Union, United States of America or as directed by the Government of India, from time to time.
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 Traditional Guarantee Plan
(UIN: 133N104V01)
- 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.
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Got Questions? We’ve Got Answers!
Here are answers to some of the questions you might have.
The plan supports both Non-Superannuation schemes (gratuity, leave encashment, post-retirement medical) and Superannuation schemes (retirement fund accumulation). Each has different characteristics—Non-Superannuation includes life cover, Superannuation includes assured 1% return guarantee.
Each contribution creates a separate tranche with its own start date, chosen tenure (1/3/5 years), and locked interest rate. You can have multiple tranches running simultaneously. Each tranche operates independently with its own maturity date and renewal options
Interest rates are declared monthly on the last working day of the previous month for all three tenure options. The rate you receive is locked in when your contribution is made for the entire chosen tenure period. Rates are based on expected yields from underlying funds, ensuring the spread between gross and net yield doesn't exceed 80 basis points.
MVA protects remaining policyholders when large withdrawals occur. It applies only when total exits during a policy year exceed 25% of the Policy Account Value at year start. The adjustment applies only to the amount above the 25% threshold and covers market value losses from liquidating underlying investments prematurely.
Yes, but early withdrawals may be subject to surrender charges (if within first three annual renewals) and Market Value Adjustment (if exits exceed 25% of Policy Account Value during that policy year). Withdrawals are permitted to meet death claims, normal retirement claims, or other valid benefit payments per scheme rules.