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.
Guaranteed Annual Income
Receive assured payouts every year for 8 to 15 years
Life Cover Protection
Financial security for your loved ones
Flexible Payout Options
Choose monthly, quarterly, half-yearly, or annual income
Generali Central Assured Income Plan, is an Individual, Non-Linked, Non-Participating (without profits), Savings Life Insurance Plan. UIN: 133N054V05. *Guarantee is subject to payment of all due premiums.
Why Choose Generali Central Assured Income Plan?
An Individual, Non-Linked, Non-Participating (without profits), Savings and Life Insurance Plan.
When life keeps you busy, it helps to have a plan that offers certainty. With the Generali Central Assured Income Plan, you create a guaranteed income stream without market risks or complicated commitments. It combines savings with life insurance protection, helping you stay financially independent while keeping your family secure.
This plan gives you the confidence that your income will flow steadily while your loved ones remain protected.
Because sometimes, making the simplest of choices bring you the strongest of results.
Guaranteed Income Stream
Receive regular income annually for a period equal to your policy term—8 to 15 years of assured payouts
Additional Lump Sum Benefit
Get a substantial amount ranging from 2.15 to 5.80 times your annual premium with the last payout
Flexible Payout Frequencies
Access funds when you need them through monthly, quarterly, half-yearly, or annual options
Comprehensive Death Benefit
Your nominee receives regular income instalments immediately, continuing on every death anniversary
Auto Cover Benefit
Policy stays covered for one year automatically if you miss a premium due to financial difficulties
Tax Benefits
Save on taxes under Sections 80C and 10(10D), as per prevailing tax laws
How to Buy the Generali Central Assured Income Plan?
Getting started with your life insurance plan is easy— just follow these simple steps:
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Choose Premium
Decide the amount of Annualized Premium
A Roadmap to a Secure Future
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
Benefits of Generali Central Assured Income Plan
Here’s how this plan helps you secure your goals and safeguard your loved ones:
Receive a lump sum at the end of the policy term when all premiums have been paid, helping you achieve your financial goals.
If the Life Assured is alive on the Maturity Date and if all Instalment Premiums have been received in full, the Maturity Benefit shall be payable as follows:
- Equal annual Maturity Benefit instalments shall be payable at the end of each year from Policy Term +1 year till the end of Payout Period.
- Payout Period will be equal to policy term.
- Annual Maturity Benefit Instalment amount = Maturity Benefit Multiplier (as per table 1) X Annualized premium (excluding the taxes, modal loading, rider premiums, underwriting extra premiums, if any)
- Additional benefit, based on the age at entry of the Life Assured shall be payable along with the last instalment.
How it works?
Let’s understand it with the help of an example for PT/PPT of 8, 11 & 15 years (Regular Pay):
- The annualised premium mentioned in the table above is excluding taxes, rider premium, modal premium and underwriting extra premium, if any.
- At the inception of the policy, you can opt to take your Maturity Benefit as lump sum at the Maturity Date. The lump sum Maturity Benefit is equal to the value of Maturity Benefit instalments as mentioned above, discounted at a compound interest rate of 6.85% per annum.
The Policyholder may choose to receive Maturity Benefit instalments in half yearly, quarterly or monthly frequency instead of taking it annually. In such cases, the instalments shall be payable as follows:
- Yearly – 100% of (Annual Maturity Benefit Instalment) shall be payable on annual policy anniversary in arrears
- Half yearly – 50.67% of (Annual Maturity Benefit Instalment) shall be payable on half yearly policy anniversary in arrears
- Quarterly – 25.5% of (Annual Maturity Benefit Instalment) shall be payable on quarterly policy anniversary in arrears
- Monthly – 8.54% of (Annual Maturity Benefit Instalment) shall be payable on monthly policy anniversary in arrears.
The frequency to receive Maturity Benefit Instalments need to be chosen at inception and cannot be changed during the Policy Term.
Krish’s Example
To clearly understand how the maturity benefit works, let us take a look at Krish’s story.
Krish is 30 years old and pays Rs. 1,00,000 as annual premium (excluding applicable tax) for a term of 15 years. He will receive Rs. 34,80,000 over the next 15 years. Let us explain how?
He will receive Rs 2,00,000 every year from the end of the 16th to the 30th year. Plus, in the last year i.e., the end of the 30th year, he will enjoy an additional income of Rs. 4,80,000.
Protect your family with a payout to your nominee in case of your untimely demise during the policy term.
The Death Benefit shall be highest of the following:
- Sum Assured on Death i.e. Death Benefit Multiple X Annualized Premium (excluding the taxes, rider premiums, underwriting extra premiums if any), or
- 105% of total premiums paid (excluding any extra premium, any rider premium and taxes, if collected explicitly) as on date of death ,or
- Total annual instalments which is equal to: Annual Instalment amount X Policy Term Where, Annual Instalment amount = Death Benefit payout rate (as per table 1) * Annualized premium (excluding the taxes, rider premiums, underwriting extra premiums if any)
In case of death of the Life Assured during the policy term, provided all due premiums till date of death have been paid, the Death Benefit shall be paid in the following manner.
- Equal Death Benefit instalments shall be payable with the first instalment being paid at the time of claim settlement and the remaining Death Benefit instalments payable on each of the following death anniversary of the Life Assured.
How it works?
Let’s understand it with the help of an example for PT/PPT of 8, 11 & 15 years (Regular Pay):
- The death benefit mentioned above will be payable if your policy is inforce. The annualised premium mentioned in the table above is excluding taxes, rider premium and underwriting extra premium, if any.
The Policyholder may choose to receive Death Benefit instalments in half-yearly, quarterly or monthly frequency instead of taking it annually. In such cases, the Death Benefit instalments shall be payable as follows:
- Yearly – 100% of (Annual Death Benefit Instalment) shall be payable on annual policy anniversary in arrears
- Half yearly – 50.67% of (Annual Death Benefit Instalment) shall be payable on half yearly policy anniversary in arrears
- Quarterly – 25.5% of (Annual Death Benefit Instalment) shall be payable on quarterly policy anniversary in arrears
- Monthly – 8.54% of (Annual Death Benefit Instalment) shall be payable on monthly policy anniversary in arrears.
The frequency to receive Death Benefit Instalments need to be chosen at inception and cannot be changed during the Policy Term.
The nominee has the option to take a lump sum death benefit as the discounted value of outstanding Death Benefit instalments. The outstanding Death Benefit instalments will be discounted at a compound interest rate of 6.85% per annum
In the event of death during the payout period, regular Maturity Benefit instalments as per the maturity benefit will be paid to the nominee. The nominee has the option to take a lump sum death benefit as a discounted value of outstanding Maturity Benefit instalments. The outstanding Maturity Benefit instalments will be discounted at a compound interest rate of 6.85% per annum. The value of lump sum payment to nominee is at least equal to Sum Assured on Maturity less Maturity Benefit instalments already paid
Krish’s Example
To clearly understand how the maturity benefit works, let us take a look at Krish’s story.
Krish is 30 years old and has purchased the plan for a duration of 15 years with an annual premium of Rs. 1,00,000. He pays the premium for 4 years and unfortunately expires during the 4th policy year. In this case, the nominee will receive Rs. 70,000 as the first payout when the death claim is settled and thereafter for 14 years on Krish’s death anniversary.
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
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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 Assured Income Plan
Grace Period
You get a grace period of 30 days for Annual, Half-yearly and Quarterly Premium Payment Frequency and 15 days for Monthly Premium Payment Frequency, from the premium due date to pay your missed premium. During these days, risk on your life you will continue to be covered and your nominee will be entitled to receive all the benefits subject to deduction of due premium.
Change in Premium Payment Frequency
You can change your premium payment frequency subject to minimum eligibility criteria. Such change shall be applicable from the next Policy Anniversary.
The premiums for various modes as up to percentage of annual premium are given below:
There shall be no charge made for the change of premium payment frequency. The company will offer waiver of modal premium loadings for Annualized Premium of ₹1 crore and above.
Auto Cover
After payment of at least 1 year premiums, if you are not able to pay premium within the grace period, you will get an auto cover of one year.
If death occurs during the Auto Cover period, the Death Benefit payable will be as for an in-force policy after deducting unpaid due premium.
If due premium remains unpaid during the Auto Cover period, the policy will be converted to a paid-up policy. Auto Cover will be available only once during the Policy Term and will not be available if the policy has been converted to a paid-up policy.
Suicide
In case of death of Life Assured 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.
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 Assured Income Plan (UIN: 133N054V05)
This Product is not available for online sale.
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. You are advised to consult your tax consultant.
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.
Life Coverage is included in this Product. 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 Group’s and Central Bank of India’s liability is restricted to the extent of their shareholding in Generali Central Life Insurance Company Limited. Generali Central Life Insurance Company Limited (Formerly known as ‘Future Generali India Life Insurance Company Limited’) (IRDAI Regn. No.: 133) (CIN: U66010MH2006PLC165288). Regd. Office & Corporate Office address: 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: https://www.generalicentrallife.com
UIN: 133N054V05
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Got Questions? We’ve Got Answers!
Here are answers to some of the questions you might have.
The Generali Central Assured Income Plan is a non-linked, non-participating savings and life insurance plan that provides guaranteed regular income for 8 to 15 years after policy maturity, along with life cover protection and additional lump sum benefits.
After your policy term ends, you receive regular income instalments for a period equal to your policy term. For example, with a 15-year policy, you receive payouts from year 16 to year 30—giving you 15 years of assured income.
If you've paid at least one year's premium and miss a subsequent premium, your policy automatically continues for one year without lapsing. This one-time benefit ensures protection during financial emergencies.
Medical examination requirements depend on your age, sum assured, and health declarations. For eligible cases, the plan can be purchased without medical tests, making the process quick and convenient.
Yes, you can purchase this plan for children as young as 3 years old. The policy automatically vests in the child on the policy anniversary coinciding with or following their 18th birthday.