Life protection and wealth creation, in one plan

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Choose from 9 investment funds matching your risk appetite

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Choose Policy term that suits your financial goals

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Life cover that protects. Investments that multiply. Empower your family with both the safety net they need and the financial freedom they dream of.

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Generali Central Bima Advantage Plus Plan

In this policy, the investment risk in investment portfolio is borne by the policyholder. The linked insurance products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender or withdraw the monies he or she has invested in linked insurance products either completely or partially till the end of the fifth year.

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Have questions? Get help and reliable support from experts at Generali Central Life Insurance.

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Everything you need to understand your policy, plan your future, and make informed decisions at your convenience.

Downloads 

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Product Brochure

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Policy Schedule

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Policy Document 

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Customer Information Sheet 

Here are answers to some of the questions you might have.

Bima Advantage Plus is a unit-linked life insurance plan (ULIP) that offers the dual advantage of life protection and wealth creation. It allows you to invest in a choice of 9 funds while securing your family with comprehensive life cover.

Unlike pure term insurance, Bima Advantage Plus not only protects your family but also builds a wealth corpus through market-linked investments. You get maturity benefits along with death benefits, making it an investment-cum-protection solution.

Yes, absolutely. You can switch between the 9 available funds up to 12 times free of cost in a policy year. Beyond that, a nominal charge of ₹100 per switch applies. This flexibility helps you optimize returns based on market conditions.

The maximum entry age is 65 years, and the maximum maturity age is 95 years.

Yes, partial withdrawals are allowed after the lock-in period of 5 years, subject to policy terms and a minimal charge beyond free withdrawals.

Got Questions? We’ve Got Answers!

Understand your policy better with key details and insights into the Generali Central Bima Advanatge Plus Plan.

Little Privileges Just for You

Policyholder has the right option to cancel the policy within 30 days of receipt of the Policy Document (whether received electronically or otherwise) if the policyholder disagrees with any of the policy terms and conditions, or otherwise and has not made any claim, by giving a written request for cancellation of the policy to the company, stating the reasons for such objections. 

On cancellation of the policy after such request, the Fund Value as on the date of cancellation of the Policy plus non-allocated premium, if any plus charges levied by cancellation of units minus (Stamp duty + medical expenses, if any, + proportionate risk premium for the period on cover) minus extra allocation, if any added to the Policy will be payable to the Policyholder.

If the Policy is opted through Insurance Repository (IR), the computation of the said Free Look Period will be as stated below:

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.

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 elnsurance Account(e IA) or the delivery date of the email confirming the grant of access to the elA or the delivery date of the email confirming the credit of the Insurance Policy by the IR to the elA, whichever is later shall be reckoned for the purpose of computation of the Free Look Period.

Grace period means the time granted by the insurer from the due date of payment of premium, without any penalty or late fee, during which time the policy is considered to be in-force with the risk cover without any interruption, as per the terms & conditions of the policy. The grace period for payment of the premium for all types of life insurance policies shall be fifteen days, where the policyholder pays the premium on a monthly basis and 30 days in all other cases.

The policy will remain in force during the grace period.

It is a period of five consecutive completed years from the date of commencement of the policy, during which period the proceeds of the policies cannot be paid by the insurer to the policyholder or to the insured as the case may be, except in the case of death or upon the happening of any other contingency covered under the policy.

Revival Period means the period of three consecutive complete years from the Date of first unpaid premium.

Charges

The Premium Allocation Charge will be deducted from the premium amount at the time of premium payment and the remaining premium will be used to purchase units in various investment funds according to specified fund allocation.

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The maximum Policy Administration Charge will not exceed ₹ 500/- per month. These charges are determined using 1/12th of the annual charges given above and are deducted from the unit account monthly at the beginning of each monthly anniversary of the policy by cancellation of units for equivalent amount.

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Fund Management Charges are deducted on a daily basis at 1/365th of the annual charge in determining the unit price. The company may change the fund management charges from time to time with appropriate approval.

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This shall be levied at the beginning of each policy month from the fund. Below mentioned are the sample mortality charges for various ages for 1,000/- of sum at risk. 

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Mortality Charges are deducted on sum at risk which is calculated as excess of (Higher of (Sum assured less deductible partial withdrawal), 105% of premiums paid less Deductible Partial Withdrawal) over Fund Value.

In case of discontinuance/ surrender of the policy during the first 4 policy years, the following charges will apply:

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Rs 100 per switch, is levied beyond the 12 free switches in a policy year.

This charge is levied at the time of affecting the switch and will be deducted from the unit account by cancellation of units.

The switching charges are subject to increase up to Rs.500 per switch, subject to appropriate approval.

Beyond the free withdrawals allowed in a policy year, a charge of Rs 200 will be levied per withdrawal in each policy year.

This charge is levied for any alterations within the insurance contract, such as premium redirection and decrease in sum assured.

The charge is expressed as a flat amount levied by cancellation of units.

This charge is levied only at the time of alteration and is equal to Rs.250 per alteration

Applicable tax & cess is applicable on the above charges as per prevailing tax rules.

One month notice period will be given to the policyholder in case of an increase in charges.

The increase, if any will apply from the policy anniversary coinciding with or following the increase. Any change in amount or rate of charges as stated above will be subject to appropriate approval.

Exclusions

No benefit will be payable in respect of any condition arising directly or indirectly through or in consequence of the following exclusions and restrictions-

In case of death of life assured due to suicide within 12 months from the date of commencement of the policy or from the date of revival of the policy, as applicable, the nominee or the beneficiary of the policyholder shall be entitled to fund value, as available on the date of intimation of death.

Further, any charges other than Fund Management Charges (FMC) and Guarantee Charges recovered subsequent to the date of death shall be added back to the fund value as on the date of intimation of death.

Grievance Redressal

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:

We will provide a resolution at the earliest. For further details please access the link: 

Why Choose Us

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.

Disclaimer

Generali Central Bima Advantage Plus (UIN: 133L049V04)

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 

 before concluding a sale. Tax benefits are as per the Income Tax Act 2025 and are subject to any amendment made thereto from time to time. You are advised to consult your tax consultant. 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

Important Information & Resources

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Decide Your Investment

Decide Your Sum Assured

Select Investment Funds

Get Quote and Apply

Fill the Proposal Form

Make Payment

Getting started with your life insurance plan is easy— just follow these simple steps: 

How to Buy the Generali Central Bima Advantage Plus Plan? 

Ensure steady income and financial security with the Bima Advantage Plus Plan from Generali Central Life Insurance.

Bima Advantage Plus Plan | Generali Central Life Insurance

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Step-by-Step Guide to Secure Your Future

An Individual, Unit-Linked, Non-Participating (without Profits), Life Insurance Plan. 

What if one decision could protect your family and build their future at the same time? 

Generali Central Bima Advantage Plus makes it possible. While traditional insurance stops at protection, this ULIP goes further—investing your premiums across professionally managed funds that aim for real growth. From ultra-safe securities to dynamic equity portfolios, you choose how your wealth should grow. Meanwhile, your family enjoys uninterrupted life cover that scales with your needs. It's comprehensive. It's flexible. And it's designed for families who want both security and prosperity. 

Because real financial planning isn't about choosing protection or growth. It's about choosing both, intelligently.

Get life cover that protects plus investments that grow

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Dual Benefits

9 investment fund options to choose based on your risk appetite

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Flexible Fund Options

Move your money between funds anytime based on your goals

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Smart Fund Switches

Choose policy and premium payment terms from 10 to 30 years

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Flexible Premium Payment Terms

Coverage up to 25 times your annual premium based on age

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Death Benefit Multiple

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Tax Benefits

Why Choose Generali Central Bima Advantage Plus?

Subhra Mukherjee

Goutam Kumar Paul

Vimal Verma

Pravin Khemka

Navin Khemka

Shoni Khan

Phoolchand Jakhad

Balraj Wadhera

Snehlata Wadhwa

Satish Kumar

Rajneesh Agrawal

Dilip Agnihotri's

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6019

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897,635

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₹87.84 Bn

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98.08%

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99.78%

We bring experience, stability, and a proven approach to supporting your family and financial goals.