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.
Generali Central Long Term Income Plan
Guaranteed Benefits**
on death, survival, and maturity
Start Receiving Income
as early as next month
Long Term Income
assured for up to 50 years
**Guarantee is subject to payment of all due premiums. 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. | UIN: 133N090V05 | ARN: ADVT/Comp/2024-25/September/1591
Why Choose Generali Central Long Term Income Plan?
When your dreams span decades, your income and protection should too.
Generali Central Long Term Income Plan is a life insurance plan designed to offer you guaranteed income, life cover, and long-term financial support so that you can live life on your terms and protect what matters the most.
Start receiving guaranteed income as survival benefit as early as next month, with payouts that grow over time. From retirement planning to lifestyle upgrades or securing your child’s future, you stay financially confident with life cover and continued income for your family. Even in your absence, this support helps build a lasting legacy for the generations to come.
Guaranteed Benefits
On death, survival, and maturity.
Long-Term Income
Get payouts for up to 50 years.
Flexible Life Cover
Coverage that fits your needs.
Life Cover Throughout
Protection continues during payouts.
Flexible Payouts
Receive income yearly, quarterly, or monthly.
Family Income Protection
Even in your absence, your family receives payouts.
Auto Cover Continuation
Policy stays active after missed premiums.
Tax Benefits
Save on premiums and payouts.
Loyalty Bonuses
Extra rewards for staying invested.
How to Buy the Generali Central Long Term Income Plan?
Getting started with your life insurance plan is easy, here’s how –
Step
Step
Step
Step
Step
Step
Choose Your Plan Option
Option 1
Plan for yourself: Receive Survival Benefits and Maturity Benefit upon survival. Death Benefit is payable to your Nominee
Option 2
Plan for yourself and your loved ones: A lump sum is paid to the nominee upon the death of Life Assured. In addition, survival and maturity benefits continue as scheduled
Step-by-Step Guide to Secure Your Future
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 fit your life goals.
Option 1
Secure your future with regular payouts and a maturity benefit because your peace of mind matters and if life takes an unexpected turn, your nominee is protected too.
Min: 0 days (Death Benefit Multiple of
10)
Max: 65 years (Death Benefit Multiple of 5, 7, or 10)
30-100 years
Minimum:
Age: 0 days-50 years
₹2,208
Age: 51-65 years
₹4,415
Maximum: No Limit (As per Board Approved Underwriting Policy)
Option 2
Protect your family’s future with continued benefits and no premium burden, even when life doesn’t go as planned. A thoughtful way to ensure their dreams stay on course, no matter what.
Min: 18 years (Death Benefit Multiple of 10)
Max: 45 years (Death Benefit Multiple of 10)
48-85 years
Minimum:
Age: 0 days-50 years
₹4,415
Maximum: No Limit (As per Board Approved Underwriting Policy)
Offered Across All Plans
30-100 years
8 or 10 years
30 or 40 or 50 years
Limited Pay
₹ 2,00,000 - No Limit (As per Board Approved Underwriting Policy)
Yearly, Half Yearly, Quarterly and Monthly
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 the applicable taxes, rider premiums, and underwriting extra premiums, if any.
3. Age, wherever mentioned is age as on last birthday.
Benefits of Generali Central Long Term Income Plan
Here’s what we offer with this life insurance plan –
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
Immediate Income
- Payouts start immediately after policy inception
- Frequency: Yearly, Half-Yearly, Quarterly, or Monthly.
Example:
- Monthly payout begins at the end of the first policy month.
- Yearly payout begins at the end of the first policy year.
Deferred Income
- Payouts start 5 years after the policy inception
- Frequency: Yearly, Half-Yearly, Quarterly, or Monthly.
Example:
- Monthly payout starts at the end of the 61st policy month.
- Yearly payout begins at the end of the 6th policy year.
Guaranteed Income
The Guaranteed Income varies based on Annualized Premium (excluding applicable taxes, rider premiums, loadings for modal premium and underwriting extra premiums, if any), Plan Option, Income Option, Entry age of Life Assured, Policy Term, Premium Payment Term and Death Benefit Multiple Option.
Income Loyalty Addition
The Income Loyalty Addition shall enhance the Survival Benefit payable starting from the 11th policy year till the end of the Policy Term, subject to payment of all due premiums. The Income Loyalty Addition is defined as a percentage of Guaranteed Income as mentioned below in Table 1.
Income Loyalty Addition as a percentage of Guaranteed Income
30 years
40 years
50 years
You will receive the Total Maturity Benefit at the end of the Policy Term, provided all due premiums are paid.
Total Maturity Benefit = Sum Assured on Maturity + Guaranteed Loyalty Additions
- Sum Assured on Maturity (A multiple of the Annualized Premium (excluding taxes, rider premiums, and underwriting loadings).)
- Guaranteed Loyalty Additions (Additional benefit equal to the sum assured.)
Rahul’s Example
Rahul, a 35-year-old healthy individual, purchases Generali Central Long Term Income Plan – Option 1
Scenario 1: Deferred Income Option
Rahul is 35 years old healthy man and has purchased Generali Central Long Term Income Plan – Option 1 with Deferred Income option. He has opted for an Annualized Premium (excluding applicable taxes, rider premiums, loadings for modal premium and underwriting extra premiums, if any) of Rs. 1,00,000 for a Premium Payment Term of 10 years, Policy Term of 50 years and Yearly Survival Benefit payout frequency. His Death Benefit Multiple is 10 times and Sum Assured will be Rs. 10,00,000 and his Guaranteed Income will be Rs. 24,647 per annum.
1. Survival Benefits annually from the end of the 6th policy year till the end of the 50th policy year
2. Maturity Benefit at end of the Policy Term
Rahul receives Survival Benefits starting From the end of 6ᵗʰ policy year till the end of Policy Term, which is sum of Guaranteed Income and Income Loyalty Addition. He also receives Maturity Benefit at the end of 50ᵗʰ policy year.
* The 5.33 times of total premium (excluding applicable taxes ) is pertaining to above illustrate only.
Scenario 2: Immediate Income Option
If Rahul, who is a 35 years old healthy man, purchases Generali Central Long Term Income Plan – Option 1 with Immediate Income option and opts for an Annualized Premium (excluding applicable taxes, rider premiums, loadings for modal premium and underwriting extra premiums, if any) of Rs. 1,00,000 for a Premium Payment Term of 10 years, Policy Term of 50 years and Yearly Survival Benefit payout frequency. His Death Benefit Multiple is 10 times and Sum Assured will be Rs. 10,00,000 and his Guaranteed Income will be Rs. 18,985 per annum.
It is assumed that Rahul’s death occurs in the 5th policy year. The benefit payable under Option 2 to Rahul’s nominee(s) will be:
Rahul receives Survival Benefits starting From the end of 1st policy year till the end of Policy Term, which is sum of Guaranteed Income and Income Loyalty Addition. He also receives Maturity Benefit at the end of 50ᵗʰ policy year.
* The 4.66 times of Total Premium (Excluding Applicable Taxes ) is Pertaining to above Illustrate only
Let’s understand the benefits under all Plan Options and Income Options for a 35 years old healthy individual who opts for a Premium Payment Term of 10 years,
Policy Term of 50 years and Yearly Survival Benefit payout frequency, Death Benefit Multiple is 10 times and pays an annual premium of Rs. 1,00,000 per year.
You can ensure financial support for your family with a Death Benefit, payable as per the Plan Option chosen,
in case of your unfortunate demise during the Policy Term.
Sum assured on death is defined as a multiple of the annualised premium (excluding applicable taxes, rider premiums and underwriting extra premiums, if any)
Option 1
- Sum assured on death
- 105% of total premiums paid (excluding applicable taxes and extra premiums, collected explicitly) as on date of death
- 150% of total premiums paid (excluding applicable taxes and extra premiums, if collected explicitly) as on the date of death minus the total survival benefit already paid
- Surrender value as on the date of death
The policy will terminate on payment of the entire Death Benefit as defined above.
Option 2
- A lump sum payout equal to the sum assured on death will be paid at the time of settlement of death claim.
- The policy will continue to pay the Survival Benefits until the end of the Policy Term, along with the Maturity Benefit as scheduled.
- No future premiums are required to be paid after the death of the Life Assured.
The policy will terminate on payment of the entire Death Benefit as defined above, the nominee will have no right to surrender or alter any of the conditions of the policy after the death of the Life Assured
Death of the Nominee after the death of the Life assured under Option 2
- In case of death of the Nominee(s) after the death of the Life Assured, a lump sum benefit equal to discounted value of outstanding payments shall be payable to the legal heir(s).
- The outstanding payments (outstanding Survival Benefits and Maturity Benefit) will be discounted using discount rate of 9% per annum compounded yearly.
- The policy shall terminate on payment of entire lump sum benefit.
- Alternatively, the legal heir(s) has an option to continue the outstanding Survival Benefits and Maturity Benefit on the respective due dates without taking a lump sum benefit.
The provisions relating to Nomination shall be governed by the provisions of Section 39 of the Insurance Act 1938, as amended from time to time.
Rahul’s Example
Rahul, a 35-year-old healthy individual, purchases Generali Central Long Term Income Plan
Scenario 1: Option 1 with Deferred Income
Rahul is 35 years old healthy man and has purchased Generali Central Long Term Income Plan – Option 1 with Deferred Income option. He has opted for an Annualized Premium (excluding applicable taxes, rider premiums, loadings for modal premium and underwriting extra premiums, if any) of Rs. 1,00,000 for a Premium Payment Term of 10 years, Policy Term of 50 years and Yearly Survival Benefit payout frequency. His Death Benefit Multiple is 10 times and Sum Assured on Maturity will be Rs. 10,00,000 and his Guaranteed Income will be Rs. 24,647 per annum.
It is assumed that Rahul’s death occurs in the 5th policy year. The benefit payable under Option 1 to Rahul’s nominee(s) will be:
Scenario 2: Option 2 with Deferred Income
If Rahul, who is 35 years old healthy man, purchases Generali Central Long Term Income Plan – Option 2 with Deferred Income option and opts for an Annualized Premium (excluding applicable taxes, rider premiums, loadings for modal premium and underwriting extra premiums, if any) of Rs. 1,00,000 for a Premium Payment Term of 10 years, Policy Term of 50 years and Yearly Survival Benefit payout frequency. His Death Benefit Multiple is 10 times and Sum Assured on Maturity will be Rs. 10,00,000 and his Guaranteed Income will be Rs. 18,816 per annum.
His nominee will also receive Survival Benefits starting from the end of 6th policy year till the end of Policy Term, which is sum of
Guaranteed Income and Income Loyalty Addition. Additionally, he receives Maturity Benefit at the end of 50th policy year.
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 the Generali Central Long Term Income Plan.
Non Payment of Due Premium
Lapse:
If 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.
All risk cover ceases while the policy is in lapsed status.
Survival Benefit payable, shall also stop once the policy is in Lapsed status.
The policyholder has the option to revive a lapsed policy within five (5) 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 thereafter.
Paid-Up:
If due premiums for the first (1) or more policy years have been paid in full and any subsequent due 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, Sum Assured on Death, Survival Benefits and Sum Assured on Maturity will be reduced.
A paid-up policy will not be eligible for any Income Loyalty Addition or Maturity Loyalty Addition.
1.Paid Up 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.
Grievance Redressal Processes
In case you have any grievances on the solicitation process, 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.in for priority assistance
You may write to us at
Customer Services Department- Generali Central Insurance Co. Ltd, Unit 801 and 802, 8th floor, Tower C, Embassy 247 Park, L.B.S Marg, Vikhroli (W) Mumbai – 400083
Generali Central Life Insurance Company Limited offers an extensive range of life insurance products, and a distribution network that ensures we are close to you wherever you go.
At the heart of our ambition is the promise to be a lifetime partner to our customers. And with the help of technology, we are making the shift from not only offering protection to our customers but also providing personalized services to them.
It starts with our extensive agent base which is at the core of this transformation. Through our distribution network, we ensure that there is always a caring touch while servicing the individual needs of our customers. With this philosophy, we aim to make simplicity, innovation, empathy and care synonymous with our brand - Generali Central Life Insurance Company Limited.
This Product is not available for online sale. Life Coverage is included in this Product. 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. 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. 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. Generali Central Life Insurance Co. Ltd. (IRDAI Regn. No. 133), CIN: U66010MH2006PLC165288, Regd. and Corporate Office address: Unit 801 and 802, 8th floor, Tower C, Embassy 247 Park, L.B.S. Marg, Vikhroli (W), Mumbai – 400 083 | Email: care@generalicentral.in | Call us at 1800-102-2355 | Website: www.generalicentrallife.com | Fax: 022-40976600 | UIN: 133N090V04
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Got Questions? We’ve Got Answers!
Here are answers to some of the questions you might have.
The Generali Central Long-Term Income Plan offers financial security for your family, even if you're not around. With Option 2, you won't have to pay future premiums, and the benefits will continue, ensuring steady support for your loved ones.
No, once you select your plan option (1 or 2), it can’t be changed later.
That’s why we’re here to help—connect with our insurance expert to understand what works best for you and choose a plan that truly fits your needs.
The minimum premium starts at ₹25,000 annually and depends on factors like age, policy term, and benefits selected. You can choose to pay premiums Yearly, Half-Yearly, Quarterly, or Monthly, offering flexibility based on your financial planning and cash flow preferences while securing a guaranteed minimum income for your future needs.
With deferred income, your payouts will start after 5 policy years. From the 11th year, you’ll also receive the extra income called Loyalty Additions, which grow over time.