Bandhan Life Rising Star Insurance Plan

Bandhan Life Rising Star is a Unit Linked Child Plan which aims to stabilize the child’s future against any contingencies.

Investing in your child's future:A wise decision & a loving choice

Benefits of Investing In Child Plan

Waiver of Premium Benefit

Future Premiums are paid by the insurer upon death of policyholder

Flexible Payout Options

Your premiums help your child achieve their dreams through lump sum or regular payouts

Wealth Boosters

Get rewarded with Wealth Booster and Loyalty Bonus for staying invested with us

Zero Commission

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Tax Benefits^

You get tax benefits under Section 80(C) and no tax on returns under Section 10 (10D)

Investment Flexibility

It offers the flexibility to invest at regular intervals or as a one-time contribution

Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr^# Tax-Free* on Maturity

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7.7 Crore

Registered Consumer

Insurance Partners

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Policies Sold

Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

Bandhan Life Rising Star - Key Features

Regular Premium Payment
In Built Premium Waiver Benefit on Death
Income Benefit
Invest Protect Option

Or,

Accelerator Fund
Stable Fund
Secure Fund
Debt Fund

Bandhan Life Rising Star - Benefits

On Maturity:

Total Fund Value + Top-up Fund Value

**The maturity value can be chosen in lump sum or by equal installments within a 5 year of tenure post maturity

On Death: In the case of the insured’s death,

The assured sum along with the top-up sum assured is immediately paid subject to a minimum of 105% of premiums paid.
The fund value will automatically be transferred to the Invest Protect option.
One annual premium is paid to the beneficiary every year post death till end of the term.

**Future premiums are waived off and paid for by the company.

Tax Benefit: All the premiums paid and claims received are eligible for tax deductions Under Section 80C and 10(10D) of Income Tax Act.

Bandhan Life Rising Star - Product Specification:

	Minimum	Maximum
Entry Age of Parent(Last Birthday)	18 years	48 years
Entry Age of Child (Last Birthday)	1 day	15 years
Maturity Age (Last Birthday)	-	65 years
Policy Term (PT) in years	25 – entry age of the child
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 10annual premium or 0.5termannual premium for ages<45 years and higher of 7annual premium or 0.25termannual premium for ages>=45 years	18annual premium if age is <45 years or 10annual premium if age is >=45 years

Details About Premium

Illustration for a male aged 34 years

Age of Child	2 years
Policy Term and PPT	223 years
Premium	60,000
SA	10,00,000
Maturity Benefit @ 4%	15,77,945
Maturity Benefit @ 8%	27,00,306

Bandhan Life Rising Star - Policy Details

Grace Period: In a case where the insured fails to pay his premiums on time, then he is allowed a 15 days grace period is for monthly premium payment cover and a 30 days grace period for a other premium payment modes.
Policy Termination or Surrender Benefit: On completion of 5 years with the plan a surrender value gets enabled with it. In a case where the insured surrenders his plan before completing 5 years, then the fund value including the discontinuation charges will be added to discontinuation fund where it shall grow at a rate of 4% annual. On completing 5 years of the plan this discontinuation fund shall be paid to the policyholder without any additional charges.
Free look Period: In case the policyholder is not satisfied with his plan or its features and benefits, then he has the choice to cancel it within 15days of receiving policy documents, given no claims have been done yet.

Invest More Get More

Invest ₹10K/Month YOU GET ₹1 Crores^* For Your Child View Plans

Invest ₹8K/Month YOU GET ₹80 Lakhs^* For Your Child View Plans

Invest ₹5K/Month YOU GET ₹50 Lakhs^* For Your Child View Plans

Standard T&C Apply *

Inclusions

Partial Withdrawals: Every year 4 Free Partial withdrawals are allowed with a maximum of 20% of the Fund Value
Systematic Partial Withdrawals: The units get redeemed periodically and the proceeds are transferred to the policyholder’s account
No Premium Allocation Charges: Every year 4 Free switches are allowed for switching between funds
Premium Redirection Option: Future premiums can be redirected to a new fund
Additional Rider Covers: Top-ups covers are available to increase the Fund Value by paying additional premium.

Additional Features or Riders

Under the plan the assured sum amount increases upto 50% without providing any medical documents within 3 months of child birth or marriage or child birth.
Auto Rebalancing Feature: Every year the funds are rebalanced according to the ratio chosen at inception

Unique Triple Benefit

Future premiums paid by insurer on parent's death

Monthly income to fund child's education on parent's death

Lumpsum payout to family on parent's death

Returns

Return as of Apr 2024
12%-15%
8.2%
7.1%

Availability

Availability
Girl Child or Boy Child
Girl child only
Girl Child or Boy Child

Max Entry Age
Upto 18 years
Upto 10 years
No Age Limit

Flexibility

Invested Amount can be Withdrawn after
5 years
21 years
15 years

Conditions for Premature closure
Anytime after 5years
Extreme Compassionate Grounds
Serious Ailments or for education

Penalty on Premature Closure
No Penalty after 5 years
Returns reduced to Post Office Savings rate
1% reduction in interest rate

Max deposit amount in an year
No Limit
1.5 Lacs
1.5 Lacs

Documentation

Documentation Required for Withdrawal
Low
High
Low

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Exclusions

Suicide: In case of suicide within 12 months of policy inception or renewal of the plan the fund value as on the date of death is paid to the beneficiaries. If the insured commits suicide within 1 year after increasing the sum assured, then the increased sum assured shall not be applicable.

Required Documents

Below are the documents which are required to be insured under Bandhan Life Rising Star Plan:

Duly filled Application form/Proposal form
Address Proof
Age Proof
Other KYC documents; PAN Card, Adhaar Card, Tax Details etc
Medical History

**Documents required are a subject to the assured sum amount chosen and the premiums paid for it.

You may also like to read: Bandhan Life Child Insurance Plans

Frequently Asked Questions

What if I am not happy with the plan?

In any case, if the insured is not happy with any of the features of term and conditions of the policy, he is free to submit his plan documents for cancellation within 30 days since inception. On cancellation, the fund value is paid back with applicable deductions of policy administration charges, mortality charges, administration charges and medical costs, if any.
What is the Mortality charges levied?

The mortality charges are deducted on cancellation of units at the beginning of every month of your plan. The charge applicable depends on the age of the insured and the assured sum amount which is calculated as:
Higher of,

Sum Assured

Or,

105% of Premiums paid till date

And,

Rider Cover
What are the service taxes levied?

All taxes including service taxes are levied as per current tax laws.
Do I get additional unit advantage?

Yes, Bandhan Life may add units into the account of the policy at certain times within the plan term in order get parallel with the IRDAI rules with respect to net yield on the Fund Value.
What are the fund management charges under the plan?

A fund management charge of Rs 100 is levied from the policy fund at the beginning of every policy month by cancelling the units.
What does the Auto-rebalancing option do?

At the end of every plan term, this feature automatically rebalances the allocation of your investment into various funds to the allocation proportions chosen by you.
What is the Invest Protect Option?

If you opt for Invest Protect Option, it not only helps you to gain from your investment but also minimize the risk to your returns as the plan nears the maturity date. It systematically shifts the funds from Accelerator fund to Secure Fund during the last 3 plan years.
What are the Equity and money market division of all 4 funds?

Accelerator Fund:
Equity: 80% - 100%

Fixed Interest and Money Market Instruments: 0% - 20%

Stable Fund:

Equity: 20% - 80%

Fixed Interest and Money Market Instruments: 20% - 80%

Secure Fund:

Fixed Interest: 60% - 100%

Money Market Instruments: 0% - 40%

Debt Fund:

This fund aims to generate profitable returns by investing the funds into diversified portfolio of corporate debt, government debt, money market instruments and other of the last policy year will be switched monthly in Secure Fund.

†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.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.