Life Insurance
Generali Central Life
Generali Central Life Insurance, earlier known as Future Generali India Life Insurance, is a private life insurer in India headquartered in Mumbai. The insurer is backed by Generali Group and Central Bank of India, giving it access to insurance expertise and banking-led distribution. The company has a wide distribution network of 6,019 company and partner branches across the country. In August 2025, the brand underwent a key transition and became Generali Central Life Insurance. This change followed a strategic partnership between Generali Group and Central Bank of India, where Generali holds a majority stake of 74% and the bank holds the remaining 26% share.
| Annual Business | ₹864 cr |
| Claims Settled | 96.43% (avg. of last 3 years) |
| Claims settled within 30 days | 100% |
Term Insurance offered by Generali Central Life
Care Plus Plan
Care Plus is a pure term insurance plan that offers life cover along with an optional accidental death benefit. It focuses entirely on protection, with flexible payout options and no savings or investment element.
Add-ons Available Under the Policy
- Coverage Options::
The plan offers two options: Life Cover and Extra Life Cover. The latter includes an additional accidental death benefit payout.
- Payout Options::
Nominees can receive benefits as a lump sum, fixed installments, or a mix of both.
- Rider Availability::
No riders are available under this plan.
Saral Ashray Yojana
Saral Ashray Yojana is a term insurance plan that provides life cover along with accelerated benefits in case of critical illness or accidental disability, and a waiver of premiums feature. It focuses on financial protection during serious health setbacks, in addition to death cover
Add-ons Available Under the Policy
- Accelerated Payout on Disability or Critical Illness::
On diagnosis of Accidental Total and Permanent Disability or a covered critical illness, 50% of the sum assured is paid.
- Waiver of Premium Benefit::
Once the first valid claim is accepted for a covered critical illness or disability, all future premiums are waived.
- Pure Protection Focus::
The plan offers no maturity benefit, surrender value, or loan facility, keeping it focused on risk protection.
Generali Central Life Term Insurance plan details
| Plan Name | Entry Age | Sum Assured | Policy payment options |
|---|---|---|---|
Care Plus Plan | 18 years to 65 years | ₹25 lakh to No limit (subject to underwriting) | Yearly, half-yearly, quarterly, and monthly |
Saral Ashray Yojana | 18 to 60 years | ₹3 Lakh to No limit (subject to underwriting) | Yearly Only |
ULIP Plans
A Unit Linked Insurance Plan, or ULIP, is a life insurance product that combines protection with investment. When you pay a premium, it is split into two parts. One part provides life cover, while the other goes into market-linked funds such as equity, debt, or a mix, based on your choice. Since these investments depend on market performance, returns are not guaranteed.
ULIPs also come with a 5-year lock-in period, which means you cannot access your money during this time. After five years, you can make partial withdrawals, but you cannot withdraw the full fund value at once.
In addition, several charges apply each year, including premium allocation, policy administration, and fund management fees. Because of these deductions, your full premium does not get invested, which can reduce overall returns over time.
ULIP Plans offered by Generali Central Life
| Plan Name | Entry Age | No. of Funds |
|---|---|---|
| Big Dreams Plan | Entry age ranges from 0 to 65 years. | 9 |
| Bima Advantage Plus | Entry age ranges from 7 to 65 years. | 9 |
| Dhan Vridhi | Entry age ranges from 8 to 65 years. | 9 |
| Sampoorna Samadhaan | Entry age ranges from 18 to 65 years. | 9 |