Bandhan Life Insurance Benefits

Bandhan Life Insurance plans are a type of insurance plan that aims to satisfy the financial security requirements of the policyholder at a very affordable price in order to safeguard their future. By buying a term insurance plan, you can ensure financial support to your family members even in your absence i.e. if anything happens to you during the policy tenure, then the nominee is entitled to receive the sum assured from the insurance provider in order to meet the daily expenses and long term financial goals of the family members. Moreover, you are given the flexibility to enhance your coverage by including riders or add-on covers to your existing term insurance cover.

Why To Buy Bandhan Life Insurance?

Bandhan life insurance plans extend multiple benefits to the policyholder, some of them are listed below:

• Cost-Effective: Term insurance plans by Bandhan Life insurance provides customers with great value for their money. These plans are not only comprehensive in nature but are also cost-effective. While the coverage for term insurance plans remains high, the premium payable is quite low. This is known to be one of the significant benefits of Bandhan Life insurance plans.
• Flexible Death Benefit Option: Bandhan life term insurance provides their customers with flexibility in pay-out options for death benefits. A couple of options are presented forth the customers to choose from such as a lump sum payment option, fixed monthly income for around 100 months, or a combination of the two.
• Longer Coverage: Generally, most of the term insurance plans offer coverage to a person for up to 70 years of age, but Bandhan life term plans offer coverage to their customers for up to 80 years of age. Thus, making it one of the term plans offered in the market with the longest tenure.
• Riders: With Bandhan life term insurance plans, the customers are offered various kinds of both in-built and add-on riders. The in-built riders in the term plans by Bandhan Life are critical illness and death benefit riders. Moreover, the customers are allowed more riders to the term plans as per their suitability.
• Tax Benefits: As per section 80 C of the Income Tax Act, 1961, premium payable and sum assured of term insurance plans is tax exempted.