Bandhan Life Jeevan Riddhi Insurance Plan

Bandhan Life Jeevan Riddhi Insurance Plan Details:

Benefits of the Bandhan Life Jeevan Riddhi Insurance Policy

Below are the core benefits offered by Bandhan Life Jeevan Riddhi Insurance Policy:

• Maturity Benefit: The insured individuals surviving the policy period after making all the relevant premium payments shall be paid the sum assured amount, as well as accrued guaranteed additions, accrued reversionary bonus, and terminal bonus (if applicable).
• Death Benefit: In case of the insured’s death during the term, the beneficiary or nominee shall receive the sum assured on death, accrued guaranteed additions, reversionary bonus and terminal bonus (if applicable). This amount will be a minimum of 105% of all the premiums paid until death and will be calculated as per the plan.
• Policy loan benefit: People can take up a loan against the Bandhan Life Jeevan Riddhi Insurance Plan once it has acquired a surrender value. The minimum loan amount will be Rs.5, 000, while the maximum amount will be up to 60% of the surrender value.
• Surrender Benefit: This plan would acquire a guaranteed surrender value in case the policyholder decides to do so:
• For single pay option-immediate payment
• For 10 or more years premium payment –After payment of premiums for the first three years
• For less than 10 years premium payment term – After payment of premiums for the first two years
• Tax Benefits: The benefits received through the Bandhan Life Jeevan Riddhi Insurance Plan are eligible for tax benefits, under Section 10(10D) and Sec 80C of the Income Tax Act, 1961.

          * Tax benefit is subject to changes in tax laws

The Premiums for Bandhan Life Jeevan Riddhi Insurance

The Bandhan Life Jeevan Riddhi Insurance premium can be paid as either a single payment option or a limited pay option.

The minimum premium payment amount for the single pay option would be *Rs. 1, 00,000, while the maximum amount shall be subject to underwriting.

For the limited pay option, the minimum premium amount would be:

• *Rs 15,000/- p.a. for the policy term of 12 to 16 years
• *Rs 12,000/- p.a. for the policy term of 17 to 20 years

*Standard T&C Apply

People can use the Bandhan Life Jeevan Riddhi Insurance calculator available online to get an idea about the premium sum to be paid.