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bandhan life insurance

Bandhan Life iTerm Prime Insurance

Bandhan Life for best Term Life Insurance

  • In an uncertain life, there is no greater comfort than the knowledge that the happiness of those we love the most is always secure, even if we cannot be around to look out for them.
  • 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 iTerm Prime.
  • Let us help you ensure that happiness and protect their future goals and financial security with Bandhan Life iTerm Prime.
  • A term insurance plan that helps you secure your family’s tomorrow and lets you live tension-free today

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Bandhan Life insurance review

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Distribution - Number of branches pan India (March 2019)

82

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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 Life for best Term Life Insurance

  • In an uncertain life, there is no greater comfort than the knowledge that the happiness of those we love the most is always secure, even if we cannot be around to look out for them.
  • Let us help you ensure that happiness and protect their future goals and financial security with Bandhan Life iTerm Prime.
  • A term insurance plan that helps you secure your family’s tomorrow and lets you live tension-free today

Bandhan Bandhan Life iTerm Prime Plan Overview

  • Key Benefits of Bandhan life iTerm Prime

    • An assured life insurance cover with lump sum payout on death.
    • Provides insurance coverage at affordable rates through your earning years.
    • Option to get all your premiums back if you no longer need coverage via Special Exit Value.
    • Flexible premium payment at the frequency you choose.
    • Tax benefits on premiums paid and benefits received (as per prevailing tax laws).
    • Option to choose additional riders for Accidental Death to strengthen the policy.
  • Eligibility of Bandhan iTerm Prime Insurance Plan

    Eligibility Criteria
    Entry Age Minimum – 18 years
    Maximum 65 years (50 years for Limited Pay)
    For POS Channel:
    Regular Pay 60 years
    Limited Pay (10 pay) 50 years
    Limited Pay (15 pay) 45 years
    Policy Term Minimum: Regular Pay 5 years
    Limited Pay (10 pay) 15 years
    Limited Pay (15 pay) 20 years
    Limited Pay (Pay till 60) (PPT+5) years
    Maximum: 70 less entry age (For POS Channel: 65 less entry age)
    Sum Assured Minimum: ₹25 Lakhs Maximum: No Limit, subject to Board Approved Underwriting Policy
    For POS Channel: Sum Assured shall be in multiple of 50,000
    Premium Payment Option Regular Pay : Same as Policy Term
    Limited Pay: 10 years | 15 years | Pay till age 60
    Premium Payment frequency# Annual, Half-Yearly and Monthly

    [^] All ages above are applicable as on last birthday.
    [#] The modal loadings for frequencies other than annual frequency are as follows:
    Half-Yearly Premium = Annualized Premium multiplied by 0.512
    Monthly Premium = Annualized Premium multiplied by 0.087.
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Brochure

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Policy wordings

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