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Build steady income and protect your family with guaranteed payouts, life cover, and flexible savings for long-term financial stability.

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Generali Central Long Term Income Plan

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Have questions? Get help and reliable support from experts at Generali Central Life Insurance.

Get Expert Advice from Your Trusted Life Insurance Partner!

Everything you need to understand your policy, plan your future, and make informed decisions at your convenience.

Downloads 

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Product Brochure

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Policy Schedule

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Policy Document 

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Customer Information Sheet 

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.

Got Questions? We’ve Got Answers!

Understand your policy better with key details and insights into the Generali Central Long Term Income Plan. 

Little privileges just for you

If you disagree with the terms and conditions of the policy, you can return the policy within 30 days of receipt of the Policy Document (whether received electronically or otherwise).. To cancel the policy, you can send us a request for cancellation along with the reason for cancellation. We will cancel this policy if you have not made any claims and refund the Instalment Premium received after deducting proportionate risk premium for the period of cover, stamp duty charges and expenses incurred by us on the medical examination of the Life Assured (if any).

If the policy is opted through Insurance Repository (IR), the computation of the said Free Look Period will be as stated below:-

You get a grace period of 30 days for Annual, Half-yearly and Quarterly Premium Payment Frequency and 15 days for Monthly Premium Payment Frequency from the due date, to pay your missed premium. During these days, risk on your life will continue to be covered and your nominee will be entitled to receive all the benefits subject to deduction of due premiums.

Flexibility to choose Survival Benefit Frequency

You can change the frequency at which you receive the Survival Benefit anytime during the Policy Term. The revised frequency of Survival Benefit payouts shall be applicable from the policy anniversary.

The Survival Benefit as a percentage of Annual Survival Benefit shall be as follows:

There shall be no charge made for the change of Survival Benefit payout frequency.

The payment of Survival Benefit is subject to deduction of any outstanding dues from the Policyholder including but not limited to outstanding Policy loan, loan interest or any other dues and applicable taxes, if any.

You can change your premium payment frequency subject to minimum eligibility criteria. Such change shall be applicable from the policy anniversary.

The premiums for various modes as up to percentage of annual premium are given below:

There shall be no charge made for the change of premium payment frequency.

The company will offer waiver of modal premium loadings for Annualized Premium of Rs. 1 crore and above.

Generali Central Non-Linked Critical Illness Rider :

Generali Central Non-Linked Accidental Death Benefit Rider:

In case of an unfortunate event of death of the Life Assured during the Rider Term, the Rider Sum Assured is paid along with the Death Benefit.

In case the “event” which has caused death due to accident has occurred during the Policy Term and accidental death occurs after the Policy Term but within 180 days from the date of accident, the accidental Death Benefit shall be payable.

Under this Rider, the Life Assured can get double benefit, if the death due to accident occurs under any of the following circumstances:

Rider Sum Assured will not be paid if the Accident is caused under any of the following circumstances.

Generali Central Non-Linked Accidental Total and Permanent Disability Rider:

In case of an unfortunate event of accident, in which the Life Assured suffers from Total or Permanent Disability to such an extent that the Life Assured cannot perform 3 out of 6 daily life activities without continuous assistance from another person during the Rider term, the Rider Sum Assured is paid.

Non - Linked Accidental Death Benefit Rider and Non - Linked Accidental Total & Permanent Disability Rider, both offer flexibility to receive Rider Sum Assured as either:

The default option to receive Rider Sum Assured is lump-sum benefit. The Policyholder can change it to any of the options during the Rider Term but before the occurrence of insured event.

The regular income instalments for frequencies other than annual shall be as specified below, where the Yearly Income below refers to the regular income payable in respect of annual frequency:

This benefit applies if it is in force on the date of accident resulting in death or disability of the Life Assured. The non-forfeiture provisions do not apply to this benefit.

For further information, please refer the rider brochure

You may avail a loan once the policy has acquired a Surrender Value. The maximum amount of loan that can be availed is up to 85% of the Surrender Value. The minimum amount of policy loan that can be taken is Rs. 10,000. For more details, please refer to the Policy Document. The interest rate applicable for the Financial Year will be declared at the start of the Financial Year, basis current market interest rate on 10-year Government Securities (G-Sec) as on 31st March every year + 2% rounded to nearest 1%. The current interest rate applicable on loans is 9% per annum compounded half- yearly for the Financial Year 2024-25. Please contact Us or Our nearest branch for information on the latest interest rate on loans.

Terms & Conditions

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.

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.

 On the death of the Life Assured during the Policy Term while the policy is in Reduced Paid-up status, the reduced Death Benefit shall be payable, which shall be equal to:

 On the death of the Life Assured during the Policy Term while the policy is in Reduced Paid-up status, the reduced Death Benefit shall be payable which is:

Where, Paid-Up Sum Assured on Death = (Number of premiums paid / Total number of premiums payable) * Sum Assured on Death

Where, Paid-up Survival Benefit = (Number of premiums paid / Total number of premiums payable) * Guaranteed Income.

Further, the future applicable reduced paid-up Survival Benefit as defined above shall be adjusted for any excess survival / income benefit paid before the policy was converted to reduced paid-up status. The adjustment (i.e. of excess survival benefit paid) to reduced paid-up Survival Benefit shall be made in equal installments over the remaining income period.

Where, Paid-Up Sum Assured on Maturity = (Number of premiums paid / Total number of premiums payable) * Sum Assured on Maturity.

You can revive a paid-up policy within a period of five (5) years from the due date of the first unpaid premium. A paid-up policy cannot be revived once the policy term is over.

You can also surrender your paid-up policy anytime during the Policy Term.

If the Paid up Sum assured (exclusive of Guaranteed Income and Income Loyalty Additions) is less than rupees two thousand five hundred, the Policy may be terminated after expiry of revival period by paying the surrender value.

We encourage you to continue your policy as planned, however, you have the option to surrender the same for immediate cash requirement, in case of an emergency, any time after the completion of first policy year provided one full year premium has been received.


The amount payable on surrender will be (a) The Guaranteed Surrender Value (GSV) or (b) Special Surrender Value (SSV), whichever is higher.




The Guaranteed Surrender Value = Guaranteed Surrender Value factor for premiums * [Total Premiums Paid (excluding applicable taxes, rider premiums and extra premiums, if any)] minus Total Survival Benefits already paid.




The Special Surrender Value shall be based on the company’s expectation of future financial and demographic conditions and may be reviewed annually by the company in accordance with the applicable IRDAI regulations in this behalf.



The policy terminates on surrender and no further benefits are payable under the policy.



Vesting of the Policy in Case of Policies Issued to Minor Lives

The policy vests on the life assured on the policy anniversary coinciding with or immediately following the 18th birthday of the life assured. In case of death of 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, Paid Up or Lapse provisions as mentioned above shall apply.


Nomination shall be in accordance with Section 39 of the Insurance Act, 1938 as amended from time to time.


Assignment shall be in accordance with Section 38 of the Insurance Act, 1938 as amended from time to time.

Exclusions

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.

Section 41 of the Insurance Act 1938 as amended from time to time states:

Section 45 of the Insurance Act 1938, as amended from time to time, states:

For further information, Section 45 of the Insurance Laws (Amendment) Act, 2015 may be referred.

Grievance Redressal

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:

Why Choose Us

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.

Disclaimer

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 2025 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.com For further details please access the link: 

. 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 Company Limited (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: 

 | Call us at 1800-102-2355 | Website: 

Important Information & Resources

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Option 1 – For You 

Option 2 – For You and Your Loved Ones 

Choose a Plan That Fits You Best 

Immediate Income

Deferred Income

Choose an Income Option That Suits You Best 

Premium Payment Term

Survival Benefit Payout Frequency

Policy Term

Premium

Death Benefit Multiple

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Option 1

Option 2

Option 3

Option 4

Choose from optional riders

Fill out  the  Proposal Form

Pay Your  Premium

Getting started with your life insurance plan is easy— just follow these simple steps: 

How to Buy the Generali Central Long Term Income Plan? 

Ensure financial stability with the Long Term Income Plan. A guaranteed income plan providing regular payouts and life insurance protection for your family.

Buy Generali Central Long Term Income Plan with Life Cover

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Step-by-Step Guide to Secure Your Future

An Individual, Non-Linked, Non-Participating (without profits), Savings, Life Insurance Plan.

When your dreams span decades, your protection and income should too. 

As you grow in life, your goals evolve, responsibilities shift, and your loved ones remain your top priority. 
The Generali Central Long Term Income Plan offers guaranteed income, life cover, and enduring financial support—so you can live life on your terms and protect what matters most. 
Start receiving income as early as next month, with payouts that grow over time. 

Whether you're planning for retirement, securing your child's future, or building a legacy, this plan ensures stability, confidence, and care that stays with your family—even in your absence. 

Get guaranteed, growing income for up to 50 years. 

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Income up to 50 Years 

Choose benefits, payout style, and term as per your goals. 

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Customisable Plan Options 



Your family will continue receiving income without paying premiums in your absence. 

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Uninterrupted Financial Security*



Enjoy life insurance even while receiving regular income. 

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Life Cover up to 100 Years# 


Eligible for tax benefits on premiums and payouts. 

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Tax Savings 

Choose yearly, half-yearly, quarterly, or monthly payouts. 

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Flexible Payout Frequency 



Boost coverage with accidental death, disability and critical illnesses protection add-ons. 

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Optional Riders 

Choose between yearly, half-yearly, quarterly, or monthly premiums. 

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Flexible Premium Payment 

Get quick funds by borrowing against your policy. 

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Loan Facility 



Why Choose Generali Central Long Term Income Plan?

Satish Kumar

Rajneesh Agrawal

Dilip Agnihotri's

Subhra Mukherjee

Goutam Kumar Paul

Vimal Verma

Pravin Khemka

Navin Khemka

Shoni Khan

Phoolchand Jakhad

Balraj Wadhera

Snehlata Wadhwa

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6019

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897,635

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₹87.84 Bn

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98.08%

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99.78%

We bring experience, stability, and a proven approach to supporting your family and financial goals.