Pension plans are plans that promise to provide a financially secure life to a person post-retirement. Bandhan Life Insta Pension Plan is one such annuity plan that offers a lifetime pension to take care of individuals and their spouses' basic needs to lead the same kind of lifestyle even when the regular income dries up.
Peaceful Post-Retirement Life
Tax Free Regular Income
Wealth Generation to beat Inflation
The actual amount that the policyholder will receive under the Bandhan Life Insta Pension policy is based on the applicable annuity at the time of the policy purchase. The policyholder is free to choose the mode – Annual or monthly - in which he or she would like to receive their pension amount.
Parameters | Details |
Premium Paying Term | Single premium |
Entry Age | Individual – 50 to 85 years Spouse – 50 to 85 years |
Annuity payout mode | Monthly and yearly |
Grace period | 15 days |
Sum assured | Rs 1 Lakh – No limit |
Liquidity | A loan cannot be availed against the policy |
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Bandhan Life Insta Pension Plan offers a wide range of benefits to policyholders. Some of them are mentioned below:
Bandhan Life Insta Pension Plan reviews show that the plan offers a lifetime income based upon the annuity pay option.
The Bandhan Life Insta Pension Plan premium has to be paid only through a single payment option. The minimum premium amount for this plan is Rs 1 lakh; however, there is no cap on the maximum premium amount payable.
The policyholder can use the Bandhan Life Insta Pension Plan calculator available on the insurance provider’s website to know about the premium amount that he or she has to pay.
No additional riders are available with Bandhan Life Insta Pension Plan.
Eligibility
The online Bandhan Life Insta Pension Plan version is not available. An individual has to download the application form online; after duly filling it up, he or she will have to visit the insurance provider's branch to submit it along with all the relevant documents.
However, the policyholder will have to keep the following points in mind before deciding on purchasing the policy.
Under the Bandhan Life Insta Pension policy, a claim cannot be made if the policyholder (sane or insane) commits suicide.
*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:- http://bit.ly/3J20bXZ