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.
Dual Benefits
Life protection and wealth creation, in one plan
Flexible Investment Options
Choose from 9 investment funds matching your risk appetite
Flexible Policy Terms
Choose Policy term that suits your financial goals
In this policy, the Investment risk in Investment Portfolio is borne by the Policy holder. 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 invested in Linked Insurance products, completely or partially, till the end of the fifth year.
Why Choose Generali Central Bima Advantage Plus?
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.
Dual Benefits
Get life cover that protects plus investments that grow
Flexible Fund Options
9 investment fund options to choose based on your risk appetite
Smart Fund Switches
Move your money between funds anytime based on your goals
Flexible Premium Payment Terms
Choose policy and premium payment terms from 10 to 30 years
Death Benefit Multiple
Coverage up to 25 times your annual premium based on age
Tax Benefits
Save on taxes as per applicable tax laws
How to Buy the Generali Central Bima Advantage Plus Plan?
Getting started with your life insurance plan is easy— just follow these simple steps:
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Decide Your Investment
Based on your savings plan, decide the premium amount you want to invest for your desired policy term
A Roadmap to a Secure Future
Note: For the purpose of illustration, we have assumed 8% p.a and 4% p.a as the higher and lower values of investment returns. These rates are not guaranteed, and they are not the upper or lower limits of returns of the Funds selected in your policy, as the performance of funds depends on several factors including future investment performance. These rates in no way signify our expectations of future returns and the actual returns may be higher or lower.
Get Expert Advice from Your Trusted Life Insurance Partner!
Have questions? Get help and reliable support from experts at Generali Central Life Insurance.
Fund Options
Your premium, net of applicable charges, is invested in unit funds of your choice. Currently you have a choice of nine investment funds, providing you the flexibility to direct your investments in any of the following unit linked funds of the Company. The funds invest in a mix of cash/other liquid assets, fixed income securities and equity investments in line with the objective of the fund.
Future Secure Fund (SFIN: ULIF001180708FUTUSECURE133)
To provide stable returns by investing in relatively low risk assets. The fund will invest exclusively in treasury bills, bank deposits, certificate of deposits, other money market instrument and short duration govt. securities.
| Composition | Min. | Max. | Risk Profile |
|---|---|---|---|
| Money Market Instruments | 0% | 75% | Low |
| Short Term Debt | 25% | 100% |
Eligibility
Choose the plan that fits your life
7 to 65 years (as on last birthday)
18 to 95 years (as on last birthday)
10 to 30 years
Same as Policy Term
Yearly, Half Yearly, Quarterly, and Monthly
Minimum Sum Assured
Age < 45 yrs: 10 x Annualised Premium
Age >= 45 yrs: 7 x Annualised Premium
Age >= 55 yrs: 5 x Annualised Premium
Maximum Sum Assured (as a multiple of Annual Premium)
Minimum:
2,000
Maximum: No Limit
Benefits of Generali Central Bima Advantage Plus
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.
On maturity of the policy, the fund value as on the date of maturity is payable to the life assured. Top up premiums are not allowed under the product. To clearly understand how maturity benefit works, let us take a look at Rahul’s story.
Rahul’s Example
To clearly understand how the maturity benefit works, let us take a look at Rahul’s story.
Rahul is 35 years old and has chosen to invest in Generali Central Bima Advantage Plus, with a Policy Term of 20 years, an annual premium of Rs. 2,00,000 for 20 years. His Death Benefit Multiple is 10 times and a Sum Assured (cover amount) of Rs. 20,00,000.
Note: For the purpose of illustration, we have assumed 8% p.a and 4% p.a as the higher and lower values of investment returns. These rates are not guaranteed, and they are not the upper or lower limits of returns of the Funds selected in your policy, as the performance of funds depends on several factors including future investment performance. These rates in no way signify our expectations of future returns and the actual returns may be higher or lower.
Protect your family with a payout to your nominee in case of your untimely demise during the policy term.
In case of an unfortunate demise of the Life Assured during the Policy Term while the policy is in force, the nominee receives the higher of:
- Sum Assured less Deductible Partial Withdrawal, if any or
- Fund Value or
- 105% of total premiums paid under the base product (including top-up premiums paid, if any) till date of death - less deductable partial withdrawals, if any is payable.
Deductible Partial Withdrawals are partial withdrawals made 2 years immediately prior to the date of death.
In this Policy, Sum Assured is defined as 'Death Benefit Multiple * Annualized Premium (excluding taxes, rider premiums and underwriting extra premium on riders, if any)'.
| Entry Age (years) | Minimum Multiple Factor | Maximum Multiple Factor |
|---|---|---|
| 7 years to 44 years | 10 | 25 |
| 45 years to 54 years | 7 | 15 |
| 55 years to 65 years | 5 | 7 |
Note
- On death of the life assured, the policy will be terminated by paying the death benefit.
- Risk will commence immediately for minor lives
Surrender Benefit
Policy can be surrendered any time during the Policy Term. The Surrender Value will be Fund Value less Discontinuance Charge, if any, as mentioned below:
If policy is surrendered before the completion of lock in period of 5 policy years from the policy commencement date, the surrender value equal to fund value less applicable discontinuance charge will be kept in a Discontinued Policy Fund of the company. No subsequent charges except Fund management charge of 0.50% per annum for the Discontinued Policy Fund will be deducted. The Discontinued Policy Fund would earn a minimum guaranteed interest as prescribed by IRDAI from time to time. Currently the minimum guaranteed interest rate is at 4% p.a The surrender value so accumulated will be paid after the lock in period of 5 years. In case of death of the life assured during the lock in period, the proceeds will be payable to the nominee / legal heirs as applicable.
If the policy is surrendered after the lock-in period, then the Surrender Value is the Fund Value at the prevailing NAV without deduction of the Discontinuance Charges. It becomes payable immediately.
The policy vests on the life assured on the policy anniversary coinciding with or immediately following the 18th birthday of the life assured. Upon such vesting, the Policy will be deemed to be a contract between the Life Assured (also the policyholder there forth) as the owner of the policy and the Company. The erstwhile policyholder or his estate shall cease to have any right or interest therein. In case of death of the Policyholder while the Life Assured is a minor, the surviving parent/ legal guardian may be appointed as a new Policyholder. In case the policy is in Paid-Up status or upon non- payment of future premiums, provisions of discontinuance of the policy and paid-up clause shall apply.
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 Bima Advanatge Plus Plan.
Free Look Period
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.
Premium Allocation Charge
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.
Policy Administration Charge
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.
Exclusion & Other Restrictions
No benefit will be payable in respect of any condition arising directly or indirectly through or in consequence of the following exclusions and restrictions-
Suicide Exclusion
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 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 Bima Advantage Plus (UIN: 133L049V04)
- Unit Linked Life Insurance Products are different from the traditional insurance products as in the former, the investment risk in the investment portfolio is borne by the policyholder.
- ‘Generali Central Life Insurance Company’ is only the name of the life insurance company and ‘Generali Central Bima Advantage Plus’ is only the name of the Unit Linked Life Insurance contract and does not in any way indicate the quality of the contract, or its future prospects of return.
- Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document of the insurer.
- The various funds offered under this contract are the names of the funds and do not in any way reflect their quality, or its future prospects of return.
- The premium paid in unit linked life insurance Policies are subject to investment risks associated with the capital markets and the NAVs of the units may go up and down based on the performance of the fund and the factors influencing the capital market and the insured is responsible for his/ her decision.
- Past performance of the funds is no indication of future performance which may be different. The investments in the Units are subject to market and other risks and there can be no assurance that the objectivities of any of the funds will be achieved. The funds do not offer guaranteed or assured return.
- All premiums/ benefits payable under this plan are subject to applicable laws and taxes including Goods & Services Tax, as they exist from time to time.
- Tax benefits are subject to change as per tax laws.
- For more details on the risk factors and the terms and conditions please read the Product Brochure and/ or sample policy document on our website carefully, and/ or consult your advisor before concluding the sale.
- The linked insurance plans do not offer any liquidity during the first five years of the contract.
- The policyholder will not be able to surrender/withdraw the monies invested in linked insurance plans completely or partially till the end of the fifth year.
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 (https://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. 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: 133L049V04
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.
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.