ULIP Plans

Plan starting from ₹1,000/month

Save upto ₹46,800 in Tax under section 80C^{^}

Zero LTCG Tax^¶

In built life cover

Key Features

It is a ULIP plan with Regular Pay option of premium payment

There is an Invest Protect Option under which the funds are managed by the company to protect them against market volatility towards maturity. Under this option, the allocated premium is initially invested in Accelerator Fund and in the last 3 policy years the fund value is systematically transferred first to Stable Fund, then to Debt Fund and in the last year to Secure Fund. The investments in each Funds are also switched monthly to the subsequent fund @ 10%

If the Invest Protect Option is not availed, the following 4 funds are available for investment

Accelerator Fund

Stable Fund

Secure Fund

Debt Fund

Benefits

The insured will get the total Fund Value including top-up Fund Value on Maturity which can be taken in lump sum or under the Settlement Option where the proceeds can be taken in equal instalments over a period of 5 years post maturity

On death of the policyholder, SA including top-up SA+ Fund Value including top-up Fund Value is payable subject to a minimum of 105% of premiums paid

Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.

Product Specification:

Minimum

Maximum

Entry Age (Last Birthday)

7 years

50 years

Maturity Age (Last Birthday)

70 years

Policy Term (PT) in years

15, 20, 25

Premium Paying Term (PPT) in years

Equal to policy term

Premium Paying Frequency

Yearly, half-yearly, monthly

Yearly Premium

20,000

No limit

Sum Assured

Higher of 10*annual premium or 0.5*term*annual premium for ages<45 years and higher of 7*annual premium or 0.25*term*annual premium for ages>=45 years

18*annual premium if age is <45 years or 10*annual premium if age is >=45 years

Policy Details

Grace period: 15 days grace period is allowed for monthly mode and 30 days for other modes

Policy termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Discontinuance Policy Fund where it will earn a minimum of 4% p.a. growth. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges

Free look period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.

Inclusions

4 Free Partial withdrawals are allowed every year with a maximum of 20% of the Fund Value

Systematic Partial Withdrawals are also available under which units are redeemed periodically and the proceeds are transferred to the policyholder’s bank account

4 Free switches are allowed every year for switching between funds

Future premiums can be redirected to a new fund via the Premium Redirection option of which 2 are free

Top-ups with a minimum of Rs.5000 are allowed for increasing the Fund Value

Age	30 years
Premium	50,000
SA	9,00,000
Fund Value @ 4%	10,43,000
Fund Value @ 8%	16,15,000
Death Benefit @ 4%	19,43,000
Death Benefit @ 8%	25,15,000

Bandhan Life Future Protect Plus Insurance Plan

ULIP Plans

Key Features

Benefits

Product Specification:

Details About Premium

Policy Details

Inclusions

Additional Features or Riders

Exclusions

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