Bandhan Life Guaranteed Growth Insurance Plan

Introduction/Overview
Bandhan Life Guaranteed Growth Insurance plan is a traditional insurance plan which provides guaranteed benefits while at the same time giving life insurance protection to ensure a stable financial future.

4.8^~ Rated
7.7 Crore Registered Consumer
50 Partners Insurance Partners
4.2 Crore Policies Sold

Investment Plans

Guaranteed Tax Savings^Under sec 80C & 10(10D)
Under sec 80C & 10(10D)Invest ₹10k Per Month*
Zero LTCG Tax^

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Get Guaranteed returns along with life cover

invest in 100% Guaranteed Return Plans Tax benefits under sec 80C & No Tax on returns*

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We are rated^~

7.7 Crore

Registered Consumer

Insurance Partners

4.2 Crore

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.

Key Features

It is a non-participating plan with limited premium payment option.
There is annual payment from the 10^th to the 17^th year which equals 150% of the annualized premium paid.

Benefits

The Maturity benefit is paid yearly @ 150% of the annual premium form the 10^th year to 17^th year
On death of the policyholder, guaranteed payouts as mentioned above will accrue as and when they fall due and future premiums are waived off.
The nominee may avail the Cash value of the death benefit prior to the end of the term where the value will be higher of 10 times the annual premium of 105% of all premiums paid discounted @ 10%.
Income tax benefit on the premium paid as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act.

Product Specification:

	Minimum	Maximum
Entry Age (Last Birthday)	8 years	50 years
Maturity Age (Last Birthday)	-	60 years
Policy Term (PT) in years	10
Premium Paying Term (PPT) in years	8
Premium Paying Frequency	Annual, monthly
Premium	20,000	300,000
Sum Assured	10 * Annual Premium

Details About Premium

Annual premium in Rupees and Benefit Illustration

Age	45 years
Term	10 years
PPT	8 years
Premium	100,000
Annual Payouts after the term	150,000

Policy Details

Grace period: 30 days’ grace period is allowed for premium payment. 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 one 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)

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

Loan is not available under the plan

Exclusions

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

Documents Required

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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