Bandhan Life Launches iTerm Elite: A Flexible Term Plan with Lifestyle-Linked Benefits

Bandhan Life Insurance has launched its new term insurance offering, Bandhan Life iTerm Elite, designed to provide affordable and flexible life cover for individuals and families in India. As a non-linked, non-participating pure risk plan, iTerm Elite focuses on delivering high sum assured options along with features that adapt to changing life needs.

Key Features of Bandhan Life iTerm Elite

The Bandhan Life iTerm Elite term insurance plan offers a range of features to enhance flexibility and financial security. Policyholders can choose their sum assured, policy term, and premium payment options based on their needs. The plan also provides flexibility in death benefit payout, allowing nominees to receive the amount as a lump sum, monthly income, or a combination of both.

A standout feature is the “Adapt Assure” option, which enables policyholders to increase or decrease their sum assured during the policy term. This ensures that the coverage remains aligned with major life events such as marriage, parenthood, or rising financial responsibilities. The Cover Continuance Benefit further adds convenience by allowing premium deferment for up to 12 months while keeping the policy active.

The plan also includes an “Insta Payment on Claim Registration” feature, which allows nominees to receive up to ₹1 lakh within one working day of claim registration, helping manage immediate financial needs. Optional riders, such as an enhanced accidental death benefit, provide additional protection against unforeseen events.

Additional Benefits of the Plan

Bandhan Life iTerm Elite is available for individuals aged between 18 and 65 years, with flexible policy terms extending up to 85 years, depending on the chosen premium payment option. The minimum sum assured starts from ₹25 lakh for single pay and ₹50 lakh for regular and limited pay options, with no upper limit subject to underwriting.

Beyond standard protection, the plan introduces lifestyle-oriented benefits. The “Gift to Mothers” feature provides a financial payout on childbirth or legal adoption, which can be claimed twice during the policy term. The plan also offers an option to extend coverage to homemakers, enabling policyholders to financially protect their spouse without extensive income documentation.

Additionally, the “Special Exit Value” feature allows policyholders to exit the policy at specific stages and receive a percentage of the premiums paid, offering flexibility for those whose insurance needs may change over time.

The plan offers first-year premium discounts of up to 17% for eligible customers and is available on digital platforms, making it accessible and convenient to purchase.

With iTerm Elite, Bandhan Life Insurance aims to cater to evolving customer needs by offering a term insurance plan that combines affordability, flexibility, and meaningful benefits, making it a strong option for individuals seeking long-term financial protection.