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Bandhan Saral Jeevan Bima Insurance Plan

Bandhan Life Saral Jeevan Bima Insurance

Bandhan Life for best Term Life Insurance

A Term Insurance strategy is a significant instrument in monetary intending to guarantee that your family is monetarily gotten in your non attendance.
Given the significance of Term Insurance, Insurance Regulatory and Development Authority of India (IRDAI) has presented the idea of a standard term protection plan called Saral Jeevan Bima.
Bandhan Life Saral Jeevan Bima – a non-connected non-taking an interest individual unadulterated danger term life coverage plan – gives monetary assurance to the family, in the event of the downfall of the protected individual during the approach term.
This arrangement thinks of the basic advantage structure which assists the client with settling on an educated decision and guarantee monetary security to the family.

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Bandhan Life insurance review

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Distribution - Number of branches pan India (March 2019)

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Sum Assured Minimum / Maximum - Term Plans

25 lacs / Unlimited

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Solvency Ratio (FY 2018-19) *

2.59

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Number of Lives Covered (Ind+Group) **

285,524

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Entry Age Minimum/Maximum (Years) - Term Plans

18/65

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Policy Term Minimum / Maximum (Years) - Terms Plans

5/62

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Number of Policies Sold (Ind+Group) *

37,487

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Claims Settlement Ratio (Ind+Group) ***

96.90%

* - As per IRDAI data - The solvency ratio of an insurance company is the size of its capital relative to all the risk it has taken, which is all liabilities subtracted from total assets. In other words, solvency is a measurement of how much the company has in assets versus how much it owes | ** - as per L-25 Public Disclosure of Insurance Companies for 2019-20 | *** - Claims Settlement Ratio = Claims Settled in the year / Claims Reported in the year - as per IRDAI data published.

Bandhan Saral Jeevan Bima Insurance Plan Overview

Key Benefits of Bandhan Saral Jeevan Bima Plan
- A simple and easy to understand term insurance plan.
- Suitable solution for all, including first time buyers.
- Cost effective plan for your basic insurance need.
- Provides financial security to your family by providing lumpsum pay out in your absence.
- Flexibility to select policy term and premium payment term as per your need.
- Option to get additional benefit in case of death due to accident with Bandhan Life AD Rider .

Eligibility of Bandhan Saral Jeevan Bima Insurance Plan

Eligibility Criteria
Entry Age	Minimum – 18 years	Maximum – 70 years
Policy Term	Minimum - 5 years \| Maximum – 40 years
Sum Assured	Minimum - Rs.5,00,000 \| Maximum – Rs. 25,00,000 Sum Assured would be offered in multiple of Rs. 50,000 only
Premium Payment Option	Single Pay – Pay only once Regular Pay – Equal to policy term Limited Pay – 5 Pay and 10 Pay
Premium Payment Mode	Annual, Semi-Annually and Monthly The modal loadings for modes other than annual mode will be: Semi-Annual Premium = Annualised Premium * 0.512 . Monthly Premium = Annualised Premium * 0.087.
Premium Payment frequency#	Yearly, Half-yearly, Monthly* *ECS/NACH or any other direct debit instrument will be mandatory under monthly mode policies.
Minimum Instalment Premium (exclusive of taxes)	The modal loadings for monthly and annual mode will be: Single Pay - Rs. 7,631 /- Yearly – Rs. 1,874/-
for Sum Assured of Rs.5,00,000/-	Yearly, Half-yearly, Monthly* Half-yearly – Rs. 959/- Monthly – Rs. 163/- (Above Instalment premiums are for age 18 years, female life)

#The modal loadings for Premium Payment mode other than Yearly mode will be:
Half-yearly Premium = Annual Premium * 0.512
Monthly Premium = Annual Premium * 0.087

Brochure

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Policy wordings

Review Bandhan Life Saral Jeevan Bima Insurance Plan Premium policy wordings which explains the terms and conditions.