Introduction/Overview
Bandhan Life Premier Endowment Insurance Plan is a traditional Endowment Assurance Plan which facilitates savings while at the same time providing life insurance benefits.
|
Minimum |
Maximum |
Entry Age (Last Birthday) |
18 years |
55 years |
Maturity Age (Last Birthday) |
- |
60 years |
Policy Term (PT) in years |
10 |
|
Premium Paying Term (PPT) in years |
8 |
|
Premium Paying Frequency |
Annual, half-yearly, monthly |
|
Premium |
Regular & Limited Pay - 20,000 Single Pay – 100,000 |
300,000 |
Sum Assured |
10 * Annual Premium |
Annual premium in Rupees and Benefit Illustration for a male aged 35 years
Term |
15 years |
PPT |
10 years |
Premium |
50,000 |
SA |
303,232 |
Accrued Guaranteed Additions |
151,616 |
Maturity Benefit @ 4% |
605,099 |
Maturity Benefit @ 8% |
776,426 |
Grace Period: 15 days’ grace period is allowed for premium payment in monthly mode and 30 days in other modes. If policyholder fails to make payment within the grace period, the policy lapses
Policy Termination or Surrender Benefit: the policy acquires a Surrender Value if 2 / 3 full year’s premium has been paid. The Surrender Value will be higher of the Guaranteed Surrender Value or the Special Surrender Value.
GSV = (GSV% * total premiums paid) + (GSV % * Accrued bonuses + accrued Guaranteed Additions)
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.
Loan is available under the plan after 3 full years’ premiums have been paid subject to a minimum of Rs.5000 and maximum of 60% of the Surrender Value
In case of suicide committed within 12 months of policy inception only 80% of premiums paid are returned to the nominee. In case of suicide within 12 months of revival, higher of 80% of premiums paid or acquired Surrender Value is paid
Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.
†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. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). 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
*Please note that the quotes shown will be from our partners
^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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