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ULIP Launched for Exclusive Online Sale by Bandhan Life Insurance
Financial scenario in India has been looking up with the Sensex gaining 29.89% in the year 2014. This positive environment encouraged Bandhan Life Insurance to introduce unit-linked insurance product (ULIP) and a return-of-premium term product which is a term plan offering a return of premium after maturity. The USP of this product is the exclusive online sales channel launch.
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- 9.7 Crore Registered Consumer
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ULIP Plans
- Plan starting from ₹1,000/month
- Save upto ₹46,800 in Tax under section 80C^
- Zero LTCG Tax¶
- In built life cover
We are rated++
9.7 Crore
Registered Consumer
51
Insurance Partners
4.9 Crore
Policies Sold
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Invest ₹10K/month & Get ₹1 Crore# Tax-Free*
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- ULIP Launched for Exclusive Online Sale by Bandhan Life Insurance
The reason behind this is the increase of online sales of insurance products as compared to the past year. Even though the increase is marginal and still accounts for just 1% of total policies sold.
Yateesh Shrivastava, the chief operating officer at Bandhan life Insurance, said, “Ulip was launched to cash in on investor interests in the equity markets, which had performed well over the past six months. The Sensex had gained 29.89% in 2014 making India one of the top-performing markets in the world”.
In the April-June quarter, total premium collected by ULIP has shown a significant growth of 33% Y-O-Y. Yateesh strongly believes that the future lies in online sales channel thus the exclusive online launch.
20% of the policies sold by Bandhan life Insurance are through online sales channel.
According to their Press Release, “The Ulip has no premium allocation charge and offers three investment fund options — Blue Chip Equity Fund, Secure fund and Debt fund”.
The features of Bandhan life’s iReturn Insurance Plan is an in-built terminal illness benefit. According to this clause the policy holder gets 25% of the base policy sum assured if diagnosed with a terminal illness.
˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. 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. 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.
^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.
+Returns Since Inception of LIC Growth Fund
¶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 information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.
Insurers Offering ULIPs
Tata AIA
Aditya Birla Sun Life
Bajaj Allianz
Axis Max Life
HDFC Life
ICICI Prudential
Bharti AXA Life
Edelweiss Life
Kotak Life
Future Generali
PNB MetLife
SBI Life
Aviva
Bandhan Life
Canara HSBC
IDBI Federal
IndiaFirst
Pramerica Life
Reliance Life
Sahara Life
Shriram Life
Star Union
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or
insurance product offered by an insurer.
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