Fulfilling a child’s dreams and aspirations is a pleasurable parental duty and making the right investment decisions plays a vital role. Bandhan Life Rising Star Insurance Plan is aptly suited to support your children’s dreams and provide for important milestones and ensure a secure future in the face of all eventualities. c is a Unit-Linked Non-Participating Life Insurance Plan.
It primarily agrees with individuals with the appropriate risk appetite to invest in Equities for handsome returns but is wary of dealing in the market directly. The key attractive features of the plan are to provide financial security for the child’s education, wealth creation for future needs while at the same time protecting invested funds. Additionally, the policyholder’s life is covered till the child is 25 years old.
Parameters |
Details |
Policy Tenure |
25 years less age of the child in completed years at entry |
Premium Paying Term |
Equal to the policy term |
Premium Paying Mode |
Yearly, Half-yearly, or Monthly |
Entry Age |
The Parent or Life Assured: |
Maturity Age |
Maximum: 65 years |
Grace Period |
15 days for monthly mode of payment and 30 days for other modes of payment from the premium due date |
Sum Assured |
Base Policy Minimum: |
Liquidity |
Partial Withdrawals after 5 years of the policy. |
Rising Star Insurance Plan by Bandhan Life comes in handy with a whole set of core benefits. Some of the core benefits of Bandhan Life Rising Star Insurance Plan are as follows:
In the event of the unfortunate death of the policyholder during the policy term and the Bandhan Life Rising Star Insurance Policy status is active, the nominee benefits by the following:
If the Life Assured survives the policy term, the Fund Value, including Top-Up if any, is paid.
It is an additional premium paid at the policyholder’s convenience at any time during the policy term except for the final five years. The accepted minimum amount is Rs. 5,000.
As per existing tax laws, Premium paid and benefits received in a financial year are exempt under Sections 80C and 10(10D) of the Income Tax Act, 1961.
*Tax benefit is subject to changes in tax laws
As already mentioned earlier, the Bandhan Life Rising Star Insurance Plan premium frequency is Yearly, Half-yearly, and Monthly.
Minimum Annualized Premium:
*Standard T&C Apply
No Riders are on offer under the Bandhan Life Rising Star Insurance Policy.
Entry Age |
Life Assured: 18- 48 years |
Maturity Age |
Maximum: 65 years |
Bandhan Life Rising Star Insurance Plan Reviews reveal that the documents required by buying the plan are Officially Valid Documents only. Accordingly, copies of the following need to be furnished.
How to Buy this Plan Online?
The purchase option for an online Bandhan Life Rising Star Insurance Plan is not available at the insurer portal. Thus, buy Bandhan Life Rising Star Insurance Plan the traditional way in simple steps detailed below.
Step I: Decide the amount to invest as Premium and the Sum assured.
Step II: The Life Advisor of the Insurer will help fill up the Proposal Form.
Step III: Draw a cheque in favor of the Insurer.
Step IV: Once applied, the Insurer makes a verification call and approves the issuance of the Policy Document.
The suicide exclusion clause deals with death due to suicide within 12 months of the commencement of risk or revival. The nominee receives only Fund Value obtained on the date of intimation, minus the applicable charges if any.
†Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^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.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
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