Generali Central Life Insurance Co. Ltd. (GCLICL) has launched the Sunehra Pension Plan, a participating, non-linked pension and savings-oriented life insurance product aimed at helping customers build a long-term retirement corpus while offering additional wellness benefits. The insurer said the plan has been designed to address the growing need for retirement preparedness as India’s elderly population is projected to rise from 10.5 per cent in 2022 to around 20.8 per cent by 2050, while pension assets remain at just 17 per cent of GDP compared with nearly 80 per cent in developed economies.
The Sunehra Pension Plan offers policy terms ranging from five to 40 years, with bonuses accruing from the first policy year. Policyholders can choose from Single Pay, Limited Pay or Regular Pay premium options and avail partial withdrawals during financial emergencies. The plan also allows customers to enhance coverage through optional riders. At vesting, customers receive the higher of the Sum Assured on Vesting with accrued bonuses or 105 per cent of total premiums paid. In case of the policyholder’s death, nominees receive the higher of the assured death benefit with bonuses or 105 per cent of premiums paid.
The insurer said payouts at vesting, surrender or death claim can be utilised for purchasing immediate or deferred annuities, partially withdrawn as a lump sum while investing the balance for regular income, or fully withdrawn in the event of a death claim. The plan also includes complimentary wellness services such as discounted health check-ups, diagnostic tests, teleconsultation-based second medical opinions and online doctor consultations.
Managing Director and CEO AlokRungta said the product has been designed to strengthen long-term financial resilience by combining the benefits of a participating plan with disciplined retirement savings.
In Guwahati, the launch is expected to generate interest among salaried professionals, government employees, small business owners and self-employed individuals seeking structured retirement planning. With increasing awareness of financial security and retirement needs in Assam, insurance products offering both savings and wellness benefits are likely to find growing acceptance in the region’s expanding life insurance market.