Bandhan Life iInvest Insurance Plan

Bandhan Life iInvest insurance is an online, non-participating, ULIP (Unit Linked Insurance Plan), life insurance plan that comes with a combination of investment and protection. Suitable for both, market experts and first-time investors, Bandhan Life iInvest offers 100% returns of premiums on the amount invested.

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With no premium allocation charges, flexible payment options, and multiple other benefits, this online insurance plan helps in achieving the future financial goals of the investors.

Here is all you need to know about the Bandhan Life iInvest Insurance plan.

Bandhan Life iInvest Insurance Plan Features

The following are the key features under the Bandhan Life iInvest Insurance Plan:

  • Helps in achieving the financial goals

  • Accumulates funds and allows withdrawals in case of any unforeseen situation

  • Offers flexibility in switching between the premium payment options

  • Offers tax benefits as per the Income Tax Laws

  • Comes with a simple and hassle-free online purchasing process

  • Ensures investments are made in the funds of the investors choice

  • Maximizes profits and helps to accumulate a lump sum at the time of retirement

  • Can invest in 2 forms of portfolio strategies

    • Self-managed portfolio strategy

    • Lifestyle portfolio strategy

Bandhan Life iInvest Insurance Plan Benefits

The following are the key benefits under the Bandhan Life iInvest Insurance Plan:

  1. Death Benefits

    In case of death of the policyholder before the maturity date of the policy, only if the policy is still in force, the nominee of the life assured is eligible for the following death benefits:

    1. Base Death Benefit

      The base death benefit is the higher of:

      • Base sum assured, or

      • Base fund value

      Where base death benefit is the minimum of 105% of total premiums (regular) paid to date.

    2. Top-up Death Benefit

      The top-up death benefit is higher of any of the following:

      • Top-up fund value, or

      • Top-up sum assured

      Where top-up death benefit is a minimum of 105% of total premiums (regular) paid to date.

  2. Maturity Benefit

    Under the maturity benefit in Bandhan Life iInvest Insurance Plan, the total fund value is paid at the time of maturity of the policy, only if the policy is still in force.

  3. Loyalty Benefit

    The policyholder is eligible for loyalty units in the last 5 years if the policyholder pays their premium duly for the policy terms of 15 years, 20 years, or 25 years.

    Premium Payment Term Loyalty Unit Addition %
    5 / 7 years 1.70%
    10 years / Equal to PT 1.80%

    The loyalty unit is calculated based on the average base fund value in the preceding 48 months.

  4. Switch Benefit

    Switching between portfolios is allowed under the Bandhan Life iInvest Insurance Plan. The policyholder can switch from a Lifestyle portfolio to a Self-Managed portfolio anytime they wish to during the policy tenure, but in case of switching from a self-managed portfolio to a lifestyle portfolio, the switching is allowed only once a year.

  5. Withdrawal Benefit

    Partial withdrawals can be made only after the completion of 5 years of the policy as per the policy documents. A maximum of 20% of the fund value amount can be withdrawn.

  6. Tax Benefit

    The policyholder is eligible for tax benefit on the premium paid under Section 80C and 10(10D) of the Income Tax Act, 1961.

Eligibility Conditions and Other Restrictions

Parameter Eligibility
Entry Age Minimum: 7 years Maximum: 55 years
Maturity Age Maximum: 70 years
Policy Term 10 years, 15 years, 20 years, 25 years
Premium Payment Term 5 years, or 7 years, or 10 years, equal to the Policy Term
Minimum Premium 5 years - Rs.48,000 7 years - Rs.36,000 10 years or equal to policy term - Rs.24,000
Maximum Premium No limit, subject to underwriting
Premium Payment Frequency Monthly & Annual
Minimum Sum Assured on Death Age at the entry less than 45 years: Higher of (10 X Annualised Premium) OR (0.5 X Policy term X Annualised Premium) Age at the entry of 45 years and above: Higher of (10 X Annualised Premium) OR (0.25 X Policy term X Annualised Premium)

Bandhan Life iInvest Insurance Plan Investment Portfolio Strategy

  1. Self-Managed Portfolio Strategy

    Fund Name Risk Profile Money Market Instruments Equities Fixed Interest Securities Objective
    Blue Chip Equity Fund High 0% to 20% 80% to 100% 0% This fund offers Long-term capital appreciation. Investment is made in diversified portfolios.
    Accelerator Fund High 0% to 20% 80% to 100% 0% This fund offers diversity in the portfolio by investing in different equities across different sectors. Can invest in money market instruments and fixed interest assets up to 20%
    Stable Fund Moderate 0% to 40% 20% to 80% 20% to 80% This fund maintains the balance between debt and equity exposures and offers stable long-term returns.
    Secure Fund Low 0% to 40% 0% 60% to 100% This fund generates income with a high liquidity level while maintaining the capital. Invests in short-term fixed interest assets and money market instruments.
    Debt Fund Moderate 0% to 40% 0% 60% to 100% This fund generates high returns by investing in money market instruments, government debts, fixed income securities, and corporate debts.

    ”The investment risk in investment portfolio is borne by the policyholder”.

  2. Lifestyle Portfolio Strategy

    Years to maturity Allocation to various funds
    Secure Fund Debt Fund Blue Chip Equity Fund
    25 years 0% 0% 100%
    24 years 0% 0% 100%
    23 years 0% 0% 100%
    22 years 0% 0% 100%
    21 years 0% 0% 100%
    20 years 0% 0% 100%
    19 years 0% 0% 100%
    18 years 0% 0% 100%
    17 years 0% 0% 100%
    16 years 0% 0% 100%
    15 years 0% 0% 100%
    14 years 0% 0% 100%
    13 years 0% 0% 100%
    12 years 0% 0% 100%
    11 years 0% 0% 100%
    10 years 0% 10% 90%
    9 years 0% 20% 80%
    8 years 0% 30% 70%
    7 years 0% 40% 60%
    6 years 0% 50% 50%
    5 years 0% 60% 40%
    4 years 0% 70% 30%
    3 years 10% 70% 20%
    2 years 20% 60% 10%
    1 year 40% 60% 0%

    ”The investment risk in investment portfolio is borne by the policyholder”.

Documents Required for Bandhan Life iInvest Insurance Plan

The following documents are required for purchasing the insurance plan:

  • Passport size photographs

  • Identity proof

  • Address proof

  • Age proof

  • Income proof

  • Bank account details

Bandhan Life iInvest Insurance Plan is an easy, simple, hassle-free online insurance plan that is affordable and offers maximum return benefits. So, even if the policyholder is a first-time investor or a market expert, Bandhan Life iInvest Insurance Plan has something beneficial for all.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
~Source - Google Review Rating available on:-

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Average Rating
(Based on 27 Reviews)
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Bandhan Life iInvest Insurance Plan Reviews & Ratings

4 / 5 (Based on 27 Reviews)
(Showing Newest 10 reviews)
Firozpur, October 14, 2016
Jasmit Kukreja
Ulip insurance policy of my family has nice services and very beneficial. Policy coverage is good ~89% and the claiming procedure is simple, online services makes more easy and reduces the paperwork, documentations. Online portal helps to renew the insurance policy by few clicks.
Dangar, September 23, 2016
Bandhan life insurance is the top most insurance company. I took the ulip insurance policy through them in low premiums and the coverage is high as compared to premium. Service is perfect given by the team of the company. The online renewal option is the best service and the many updates can be checked on the website.
Athagarh, August 24, 2016
High Paybacks
I have bought ulip insurance policy, it has great service and the online renewals is the best. The fast service reduces paperwork and long waiting. The behaviour of the company staff is very well. Policy coverage and claims are pretty good. The update mails are send to me regularly.
Wazirganj, August 02, 2016
ULIP Policy
Service provided by the Bandhan is superb and on time too. I purchase ulip insurance plan and its really very awesome with full coverage. The claiming become very simple due to internet service and the renewals are simple to do by online portal service.
Nasik, July 15, 2016
My ulip plan is very nice which i buy from Bandhan Life insurance. Policy coverage is good and the claims are easy to cleared because of fast service facilitate by the staff of the company. Premium is less and the renewal of the plan is easy through online service.
Jetpur, July 04, 2016
My plan
Ulip insurance plan of mine is awesome with great benefits during and after the policy. The premium is low and policy cover's most of the cases. Claiming is easy due to quick service given by the staff. Internet service is simple, so easy renewals and other updates too.
Bhubaneshwar, June 27, 2016
I have ulip insurance plan which I bought in low premiums. Service provided by the company members is awesome and with very calm nature. Policy coverage is high. The premium is payed by online too through different gateways like through credit card or debit card. Hassle free documentation and regular updates of the insurance policy.
Bangalore, May 06, 2016
Not Satisfied
The Bandhan Life ulip plan policy i have provide less returns. The policy coverage is okay 79% and the claims are normal. Services are even good but just the payback amount is not good enough as comparing to the premiums. Not satisfactory to me.
Durgapur, May 06, 2016
My ulip policy plan is from Bandhan religare life insurance and the policy is the best because the policy has many benefits like the accident insurance is inbuilt in this policy. Policy coverage is high and the premiums are low. Claims are 1.25 times of the investment. The service is fast and very quick. I like the plan.
Bareilly, May 06, 2016
Perfect Policy
The insurer provide me good policy coverage with low premiums. The Bandhan Life ulip plan i have which have 90% coverage and the claims are ~43 L minimum. The investment is 29.7 K per year with extra benefit that is it includes the inbuilt accidental death benefit. Great future investment.

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