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.
Lifetime Income*
Regular guaranteed income flow right up to age 100
Dual Income Options
Immediate income or steady wealth building for future
Growing Returns
Payments increase as your policy maturesPayments increase as your policy matures
*Increasing guaranteed income is for limited time period and lifelong regular income is through cash bonus, if declared. The bonus and guaranteed income duration and amount depends upon the plan option chosen and is paid on survival, subject to payment of all due premiums. UIN: 133N086V03
Why Choose Generali Central Lifetime Partner Plan?
An Individual, Non-Linked, Participating (with profits), Savings, Life Insurance Plan.
Financial security shouldn’t have an expiry date.
As the family provider, you’ve always ensured everyone’s needs are met—your children’s future, your spouse’s comfort, and your own retirement goals. Responsibilities and goals don’t end when your career does, which is why it’s important to focus on creating income that lasts as long as your family needs it.
The Lifetime Partner Plan builds a steady income stream for decades. While other plans stop at retirement, this plan continues until age 100, providing regular payments to support your loved ones through every stage of life.
More than protection, it’s your lasting contribution to your family’s financial strength.
Income Options
Immediate or deferred income flexibility for your life goals
Progressive Growth
Income rate increase from 3% to 8% as your policy matures
Payment Flexibilty
Multiple payment options like monthly, quarterly, half yearly, or yearly
Lifetime Coverage
Complete protection and income benefits till age 100
Tax Benefits
Save on taxes as per applicable tax laws
Free Look Period
30 day money back guarantee if the policy doesn't meet your expectations
How to Buy the Generali Central Lifetime Partner Plan?
Getting started with your life insurance plan is easy— just follow these simple steps:
Step
Step
Step
Step
Choose Your Income Option
Choose from the following two options that works best for you:
Option 1: Immediate Income
Start receiving guaranteed income, along with a cash bonus (if declared), from the very first year.
Option 2: Deferred Income
Receive guaranteed income, along with declared cash bonus, after completing the premium payment term plus 3 years.
The option has to be chosen at inception and cannot be changed during the term of the policy.
A Roadmap to a Secure Future
He receives sum of Guaranteed Income and Annual Cash Bonus, if declared, payable in arrears from the first policy year till the end of the policy term, upon survival of the Life Assured on the payment due dates.
He receives sum of Guaranteed Income and Annual Cash Bonus, if declared, payable in arrears from the thirteenth policy year till the end of the policy term, upon survival of the Life Assured on the payment due dates.
He receives sum of Guaranteed Income and Annual Cash Bonus, if declared, payable in arrears from the first policy year till the end of the policy term, upon survival of the Life Assured on the payment due dates.
He receives sum of Guaranteed Income and Annual Cash Bonus, if declared, payable in arrears from the thirteenth policy year till the end of the policy term, upon survival of the Life Assured on the payment due dates.
Get Expert Advice from Your Trusted Life Insurance Partner!
Have questions? Get help and reliable support from experts at Generali Central Life Insurance.
Tailored Plan Options to Secure Your Future
Choose the policy option that fits your life goals.
Option 1
Immediate Income
Start earning from year one. Your income begins immediately after policy purchase.
Minimum: 1 Years
Maximum: 55 Years
Option 2
Deferred Income
Earn more as years pass by. Enjoy higher income rates and enhanced long-term returns.
Minimum: 1 Years
Maximum: 60 Years
Offered Across All Plans
100 years
(100 minus Entry Age) years
6/ 8/ 10/ 12 years
Limited Pay
Minimum - ₹1,00,000
Maximum - No Limit (subject to Board approved underwriting policy)
Yearly, Half Yearly, Quarterly, and Monthly
Minimum:
4,415
Maximum
: No Limit (as per Sum Assured)
1. For minors, the date of issuance of Policy and Date of Commencement of risk shall be the same.
2. Premiums mentioned above are excluding applicable taxes, rider premiums and any extra premium paid as a part of underwriting requirements, if any.
3. Age wherever mentioned is age as on last birthday.
Benefits of Generali Central Long Term Income Plan
Here’s how this plan helps you secure your goals and safeguard your loved ones:
Receive regular payouts at important milestones, provided the life insured survives those periods, helping you stay financially secure as you and your loved ones move through life’s journey.
You will receive Survival Benefit till the end of the Policy Term as per the Income Option and Survival Benefit. Payout frequency you have chosen.The plan offers two Income Options to choose from:
Income Options to Choose From
Option 1 : Immediate Income
You will receive sum of:- Guaranteed Income, payable in arrears from the first policy year till the end of 25th policy year and
- Annual Cash Bonus, if declared, as a percentage of Sum Assured, payable in arrears, starting from the first policy year till the end of the policy term. The amount of bonus will depend upon the Option, Sum Assured and the policy year.
Example:
- If the frequency of Survival Benefit payout is monthly, first Survival Benefit shall be payable at the end of 1st policy month. In case, frequency of Survival Benefit payout is yearly, the first payout shall be payable at the end of 1st policy year
Where Guaranteed Income is calculated by multiplying Guaranteed Income Rate by Sum Assured.
1-5
6-10
11-15
16-20
21-25
26 to the end of the Policy Term
Option 2: Deferred Income
You will receive sum of:- Guaranteed Income, payable in arrears starting from premium payment term plus 3 years till the end of the premium payment term plus 12 years and
- Annual Cash Bonus, if declared, as a percentage of Sum Assured, payable in arrears, starting from the premium payment term plus 3 years till the end of the policy term. The amount of bonus will depend upon the Option, Sum Assured and the policy year.
Example:
- If PPT=10 years and frequency of Survival Benefit payout is monthly, first Survival, Benefit shall be payable at the end of 12 policy years and 1 month. In case, frequency of Survival, Benefit payout is yearly, the first payout shall be payable at the end of the 13th policy year.
Where Guaranteed Income is calculated by multiplying Guaranteed Income Rate by Sum Assured.
1 to PPT+2
PPT+3 and PPT+4
PPT+5 and PPT + 6
PPT+7 and PPT+8
PPT+9 and PPT+10
PPT+11 and PPT+12
PPT+13 till end of the Policy Term
Where PPT stands for Premium Payment Term
A lump sum paid at the end of the policy term, helping you secure your family’s future*.
*provided all due premiums are paid
You will receive Sum Assured on Maturity which is equal to 2 times the Sum Assured, upon survival till the end of the policy term, subject to payment of all due premiums. Terminal Bonus, if declared, shall also be paid, along with the Maturity Benefit.
The policy terminates on the payment of the Maturity Benefit, under both the options.
Amit’s Example
To clearly understand how the maturity benefit works, let us take a look at Ravi’s story.
Scenario 1: Option 1 with Immediate Income
Amit is a healthy 40-year old male and has purchased the Generali Central Lifetime Partner Plan – Option 1: Immediate Income. He has opted for an Annual Premium of ₹ 50,000 per year (excluding applicable taxes) for a Premium Payment Term of 10 years and Annual Survival Benefit frequency. His Policy Term is 60 years and his Sum Assured is ₹2,48,457.
He receives sum of Guaranteed Income and Annual Cash Bonus, if declared, payable in arrears from the first policy year till the end of the policy term, upon survival of the Life Assured on the payment due dates.
Scenario 2:Option 2 with Deferred Income
To clearly understand how death benefit works in this case, let us look at Amit’s story
If Amit purchases Generali Central Lifetime Partner Plan – Option 2: Deferred Income with an Annual Premium of ₹50,000 per year (excluding applicable taxes) for a Premium Payment Term of 10 years and Annual Survival Benefit frequency. His Policy Term will be 60 years and his Sum Assured will be ₹2,98,632.
He receives sum of Guaranteed Income and Annual Cash Bonus, if declared, payable in arrears from the thirteenth policy year till the end of the policy term, upon survival of the Life Assured on the payment due dates.
Please Note:
Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your life insurance company. These assumed rates of return 8% and 4%, are not guaranteed and they are not upper or lower limits of what you might get back as the value of your policy is dependent on a number of factors including future investment performance.
Please Note:
At the end of each financial year, the Company may declare a cash bonus expressed as a percentage of the Sum Assured. The Annual cash bonuses shall be determined separately for each option.
The Company may declare a terminal bonus which may be payable on death or on maturity of the plan.
Protect your family with a payout to your nominee in case of your untimely demise during the policy term.
In case of the unfortunate demise of the life assured during the Policy Term, the life assured’s nominee/beneficiary shall receive the Death Benefit. This is applicable if the policy is inforce and all due premiums, till the date of death, have been paid.
The Death Benefit shall be the highest of the following:
- 105% of total premiums paid as on date of death (excluding any extra premium, any rider premium and applicable taxes , if collected explicitly) or
- Sum Assured on Death plus Terminal Bonus, if declared.
Where Sum Assured on Death is equal to 10 times the Annualized Premium (excluding applicable taxes, rider premiums and underwriting extra premiums, if any.)
The Policy will terminate on payment of entire Death Benefit under both the options.
Amit’s Example
To clearly understand how the maturity benefit works, let us take a look at Amit’s story.
Scenario 1: Option 1 with Immediate Income
Amit is a healthy, 40-year old male and has opted for Generali Central Lifetime Partner Plan – Option 1: Immediate Income with an Annual Premium of ₹50,000 per year for a Premium Payment Term of 10 years. His Policy Term is 60 years and Sum Assured is ₹2,48,457.
Assuming that Amit’s death occurs at the end of 40th policy year, i.e. after attaining age 80 years and that he had opted for an Annual Survival Benefit frequency, the benefit payable to Amit’s nominee(s) will be:
He receives sum of Guaranteed Income and Annual Cash Bonus, if declared, payable in arrears from the first policy year till the end of the policy term, upon survival of the Life Assured on the payment due dates.
Scenario 2: Option 2 with Deferred Income
If Amit purchases the Generali Central Lifetime Partner Plan – Option 2: Deferred Income with Annual Premium of ₹50,000 per year for a Premium Payment Term of 10 years, his Policy Term will be 60 years and st Sum Assured will be ₹2,98,632. It is assumed that Amit’s death occurs at the end of 40th policy year, i.e. after attaining age 80 years and that he had opted for Annual Survival Benefit frequency. The benefit payable to Amit's nominee(s) will be:
He receives sum of Guaranteed Income and Annual Cash Bonus, if declared, payable in arrears from the thirteenth policy year till the end of the policy term, upon survival of the Life Assured on the payment due dates.
Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your life insurance company. These assumed rates of return 8% and 4%, are not guaranteed and they are not upper or lower limits of what you might get back, as the value of your policy is dependent on a number of factors including future investment performance.
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 Lifetime Partner Plan.
Free Look Period
If you disagree with the terms and conditions of the policy, you can return the policy within 30 days of receipt of the Policy Document (whether received electronically or otherwise). To cancel the policy, you can send us a request for cancellation along with the reason for cancellation. We will cancel this policy if you have not made any claims and refund the Instalment Premium received after deducting proportionate risk premium for the period of cover, stamp duty charges and expenses incurred by us on the medical examination of the Life Assured (if any)
If the Policy is opted through Insurance Repository (IR), the computation of the said Free Look Period will be as stated below:-
- For existing e-Insurance Account: Computation of the said Free Look Period will commence from the date of delivery of the e-mail confirming the credit of the Insurance Policy by the IR.
- For New e-Insurance Account: If an application for e-Insurance Account accompanies the proposal for insurance, the date of receipt of the welcome kit from the IR with the credentials to log on to the eInsurance Account (eIA) or the delivery date of the email confirming the grant of access to the eIA or the delivery date of the email confirming the credit of the Insurance Policy by the IR to the eIA, whichever is later shall be reckoned for the purpose of computation of the Free Look Period.
Lapse
If all due premiums for the first (1) policy year has not been paid in full, within the grace period, the policy shall lapse and will have no value. Survival benefit payable, if any, shall also stop once the policy is in lapsed status. All risk cover ceases while the policy is in lapsed status. The policyholder has the option to revive the policy, within Five years, from the due date of the first unpaid premium. In case, the Policy is not revived during the revival period, no benefit shall be payable at the end of the revival period and the policy stands terminated.
Paid up Value
If due premiums for the first one (1) or more policy years have been paid in full and any subsequent premium is not paid within the grace period, the policy will be converted into a reduced paid-up policy.
If a policy is converted into a reduced paid-up policy, it will not be eligible for any future cash bonuses, if declared. Sum Assured on Death, Sum Assured on Maturity and Guaranteed Income will be reduced in proportion to the number of premiums paid to the number of premiums payable under the Policy.
Exclusion under Death Benefit
Suicide exclusion:
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.
Prohibition on 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 out 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.
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.
This Product is not available for online sale.
DISCLAIMERS 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 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.
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. & 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 800 102 23
Website: www.generalicentrallife.com
UIN: 133N086V03
ARN: ADVT/Comp/2020-21/Dec/529
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.
Generali Central Lifetime Partner Plan combines whole life protection till age 100 with increasing guaranteed income rates (3% to 8%), cash bonuses, and flexible income frequencies.
Yes, you can switch between monthly/quarterly/half-yearly/yearly income anytime from next policy anniversary.
Yes, choose yearly/half-yearly/quarterly/monthly premium frequency. Modal charges apply for non-annual modes.
30-day grace period (15 days for monthly). After first year premiums paid, policy converts to reduced paid-up status.
Yes, up to 85% of surrender value (minimum ₹10,000) once policy acquires surrender value after first year.