Central Bank of India acquires Future Enterprise Limited’s 25.18% stake in Future Generali India Life Insurance, marking a strategic move to strengthen its presence in the insurance sector.
Central Bank of India acquires Future Enterprise Limited’s 25.18% stake in Future Generali India Life Insurance, marking a strategic move to strengthen its presence in the insurance sector.
Future Generali Group Leave Encashment Plan
Leave Funding
Helps employers fund lump sum leave encashment payouts.
Guaranteed Interest
Interest credited yearly is guaranteed once added.
Fund Management
Professionally managed pooled fund for liability coverage.
Non-linked, Non-participating (without profits), Pure Risk Premium, Credit Life Insurance Plan.
Why Choose Future Generali Group Leave Encashment Plan?
Because managing leave payouts shouldn’t disrupt your business.
The Future Generali Group Leave Encashment Plan helps fund employee leave liabilities with guaranteed returns, ₹10,000 life cover per member, and expert fund management.
This group leave encashment policy offers flexible contribution options and steady growth, helping you secure your team’s benefits while keeping your business financially stable.
Life Cover
₹10,000 uniform life cover per employee.
Investment Value
Stable returns through diversified fund expertise.
Flexible Payments
Pay yearly, half-yearly, or quarterly.
Fixed Charges
Guaranteed surrender and mortality charges.
No MVA
No market value adjustment on policy value.
Transparent Account
Contributions and earnings tracked in a policy account.
How to buy the Future Generali Group Leave Encashment Plan
A simple, guided way to unlock the benefits you need.
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Know Your Liability
Actuarial valuation will be carried out at the time of inception and at regular periodic intervals to determine your gratuity liability. You are expected to pay the contribution accordingly.
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
Minimum Contribution at Scheme Level
Minimum - Maximum Sum Assured
Member’s Maximum Age at Maturity
Policy Term Range
Minimum Group Size
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.
1369Branches across India
897,635Lives Protected from Day One
₹87.84 Bnof Assets Under Management
98.08%Individual Claim Settlement Ratio
99.78%Group Claim Settlement Ratio
Data 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 our life insurance plan.
Mortality Charge
These are annual charges. Mortality charges will be deducted at the start of every month from the policy account. Monthly charge would be 1/12th of annual charge.
Below are sample mortality charges for a life cover of ₹10,000 based on age:
- Age 25: ₹10
- Age 35: ₹13.20
- Age 45: ₹29.90
- Age 55: ₹80.20
These charges will be subject to applicable tax, if any.
Surrender Charge (Penalty)
The Master Policyholder can surrender the policy at any time by giving a written request, however, if the Policy is surrender within third annual renewal term of the policy than a surrender charge of 0.05% of the total policy fund value subject to a maximum of Rs 500,000/- is deducted from the total Policy Fund Value to determine the Surrender Value. Hence the surrender value will be equal to the policy account value less the surrender penalty, if any.
Contributions
The contributions made under this plan shall be made in accordance with the funding requirements as per the scheme rules. The trustee or employer or policyholder shall be required to confirm that such funding is required as per extant accounting standard governing the measurement of long term employee benefits.
The plan does not allow any top-ups, unless required to address the underfunding of the scheme as per extant accounting standard governing the measurement of long term employee benefits.
Interest Rate
An Interest rate will be declared by the company at the end of each financial year. The interest rate will be credited to the policy on a pro-rata basis based on the number of days the fund has been invested with the company. An interim rate shall be declared at the start of each financial year for exits during the financial year for which interest rate is not yet declared. The interest amount once credited to the policy account will be guaranteed.
The interest rate credited to each fund and expenses charged to such funds shall be in accordance with the Board approved policy of the company.
Disclaimer
Future Generali Group Leave Encashment Plan (UIN: 133N044V04)
- 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.in. For further details please access the link: https://www.generalicentrallife.com/customer-service/grievance-redressal-procedure
What Our Happy Customers Are Saying
Real stories, real people - hear from those who’ve taken the step towards securing their future with us.
Got Questions? We’ve Got Answers!
Here are answers to some of the questions you might have.
Life insurance is a financial safety net that provides a payout to your loved ones if something happens to you. A life insurance company ensures they can cover daily expenses, repay loans, and achieve future goals. It offers peace of mind, knowing your family’s financial future is secure, even when you’re not around.
Life insurance is a financial safety net that provides a payout to your loved ones if something happens to you. A life insurance company ensures they can cover daily expenses, repay loans, and achieve future goals. It offers peace of mind, knowing your family’s financial future is secure, even when you’re not around.
Life insurance is a financial safety net that provides a payout to your loved ones if something happens to you. A life insurance company ensures they can cover daily expenses, repay loans, and achieve future goals. It offers peace of mind, knowing your family’s financial future is secure, even when you’re not around.
Life insurance is a financial safety net that provides a payout to your loved ones if something happens to you. A life insurance company ensures they can cover daily expenses, repay loans, and achieve future goals. It offers peace of mind, knowing your family’s financial future is secure, even when you’re not around.