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 Gratuity Plan
Smarter Fund Management
Pooled funds with steady returns and expert investment handling
Uniform Life Cover
₹10,000 life cover for each member under the plan
Flexible Premium Payments
Pay as per your budget yearly, half-yearly, or quarterly
Non-linked, Non-participating (without profits), Pure Risk Premium, Credit Life Insurance Plan. (UIN: 133N045V04)
Why Choose Future Generali Group Gratuity Plan?
As your team grows with you, so does your responsibility to secure their future. Gratuity payouts can become a heavy load over time, but planning for them doesn’t have to be stressful.
With this plan, you can set up a dedicated fund to take care of gratuity payments smoothly. Your contributions earn steady returns, and once interest is added to your account each year, it’s guaranteed.
It’s a simple, smart way to manage future obligations, helping you stay prepared while showing your team that their future matters.
This plan offers interest income which gets credited to the policy at the end of financial year. The interest amount once credited to the policy account will become guaranteed. Hence, you build a Gratuity Fund systematically, benefiting from investment returns which are safe and stable and thus provide the benefits in a cost effective manner. The Future Generali Group Gratuity Plan brings you a host of features that can assist you in meeting your obligation in a systematic and cost effective manner. The liability of Future Generali India Life Insurance Company Limited (FGILICL) at any time will be limited the balance in the policy account.
Gratuity Payouts
Paid as per your company’s scheme rules to meet employee obligations.
Death Benefit
₹10,000 annually to help support families during unexpected loss.
Eligible Age Range
Covers members from 18 to 79 years of age.
Initial Contribution
Start with a minimum fund of ₹5 Lakhs.
Minimum Group Size
Available for groups with just 10 or more members.
Additional Term Cover
Add optional life cover for extra protection.
On-Demand Liquidity
Withdraw funds when needed for payouts.
Tax Benefits
Enjoy tax advantages as per current laws.
How to Buy the Future Generali Group Gratuity Plan?
Getting started with your life insurance plan is easy, here’s how –
Step
Step
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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 Group Gratuity 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 mentioned are the sample mortality charges for various age groups for Rs. 10,000 sum assured for Life Cover
- 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.
Tax Benefits
As per the applicable tax laws. Tax benefit is subject to change in tax laws from time to time.
For Employer
- The initial and Annual contributions made through an approved Gratuity trust can be claimed as business expenditure as per the provisions under section 36 (1) (v) of the Income Tax Act, 1961 subject to maximum limit of 8.33% of annual salary in respect of each member.
- Income of investments is exempt from tax under section 10(25)(iv) of the Act.
For Employee
- Gratuity benefits are tax free up to Rs. 20,00,000 in the hands of employee.
- The contribution made by the employer is not included in the value of taxable perquisites in the hands of the employee.
- Any death benefit under the Group Term Insurance is tax-exempt under section 10 (10D) of the Income Tax Act, 1961
These tax benefits are as per our understanding of the Income tax Act 1961 and is subject to change. For further details please consult your tax advisor.
Disclaimer
Future Generali Group Gratuity Plan (UIN: 133N045V04)
- 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.