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In Unit Linked Insurance Policies, the investment risk is borne by the policyholder. These insurance products do not offer any liquidity in the first 5 years, as they have a mandatory lock-in period of 5 years. During this period, the policyholder cannot fully or partially withdraw the invested amount or surrender the policy.
Bandhan Life Future Protect Plus Insurance Plan
Introduction/Overview
Bandhan Life Future Protect Plus Insurance Plan is a Unit Linked Insurance Plan which provides enhanced benefits on death and also yields good returns through capital market participation
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Bandhan Life ULIP Plans
- Aegon Life Future Protect Plus Insurance Plan
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, and long-term investors often research which SIP is best carefully before structuring such payout strategies.
- 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:
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|
Minimum |
Maximum |
|
Entry Age (Last Birthday) |
7 years |
50 years |
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Maturity Age (Last Birthday) |
- |
70 years |
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Policy Term (PT) in years |
15, 20, 25 |
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Premium Paying Term (PPT) in years |
Equal to policy term |
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Premium Paying Frequency |
Yearly, half-yearly, monthly |
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Yearly Premium |
20,000 |
No limit |
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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 |
Latest ULIP NAVs
| Fund Name | NAV  |
AUM |
5 Yr Returns |
10 Yr Returns | |
|---|---|---|---|---|---|
| Bandhan Life Debt Fund | ₹40.54 | ₹91 Cr | 5.34% | 6.2% | |
| Bandhan Life Secure Fund | ₹29.14 | ₹48 Cr | 5.33% | 4.5% | |
| Bandhan Life Blue Chip Equity Fund | ₹31.16 | ₹189 Cr | 8.31% | 11.26% | |
| Bandhan Life Stable Fund | ₹33.37 | ₹14 Cr | 5.91% | 8.61% | |
| Bandhan Life Accelerator Fund | ₹48.97 | ₹195 Cr | 10.09% | 12.88% | |
| Bandhan Life Opportunity Fund | ₹41.03 | ₹238 Cr | 13.72% | - | |
| Aegon Balanced | ₹45.36 | ₹12 Cr | 6.22% | 8.76% | |
| Aegon Enhanced Equity | ₹70.58 | ₹104 Cr | 10.25% | 12.55% | |
| Aegon Pension Balanced | ₹51.8 | ₹2 Cr | 7.1% | 9.28% | |
| Aegon Pension Debt | ₹32.22 | ₹4 Cr | 5.18% | 5.99% | |
| Aegon Pension Enhanced Equity | ₹115.3 | ₹15 Cr | 10.72% | 12.86% | |
| Aegon Pension Index | ₹87.63 | ₹5 Cr | 6.38% | 10.95% | |
| Aegon Pension Secure | ₹28.96 | ₹1 Cr | 4.73% | 4.91% | |
| Aegon Life Group Equity Fund | ₹60.89 | ₹11 Cr | 11.26% | - | |
| Bandhan Life Flexi Cap Fund | ₹11.38 | ₹98 Cr | - | - | |
| Bandhan Life Mid Cap Fund | ₹10.07 | ₹92 Cr | - | - |
See more plans
Details About Premium
Illustration for a policy term and PPT of 20 years
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Age |
30 years |
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Premium |
50,000 |
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SA |
9,00,000 |
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Fund Value @ 4% |
10,43,000 |
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Fund Value @ 8% |
16,15,000 |
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Death Benefit @ 4% |
19,43,000 |
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Death Benefit @ 8% |
25,15,000 |
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
Additional Features or Riders
- The Sum Assured under the plan can be increased by up to 50% of the base SA or 10 lakhs whichever is lower without any extra medical requirements within 3 months of marriage or child birth
- Under Auto Rebalancing feature, the fund is rebalanced every year according to the ratio chosen at inception
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Exclusions
The benefit paid in case of suicide within 12 months of policy inception or revival is the fund value as on that date. If suicide is committed within 1 year after increasing the SA, the increased SA will not be applicable
Documents Required
Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history and provide KYC documents. Medical tests may be required as per the underwriting principles of the company.
You may also like to read: Bandhan Life ULIP Plans
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Disclaimer: Policybazaar Insurance Brokers Private Limited does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar Insurance Brokers Private Limited does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI 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.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ