Bandhan iTerm Prime
  • Affordable Premiums
  • High Coverage
  • Riders Available
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Bandhan iTerm Prime

Bandhan iTerm Plan is a pure protection term insurance plan which comes with affordable premiums. The plan has minimum sum assured of 25 lakhs with no upper limit on the maximum sum assured. Bandhan iTerm policy also comes with a 'Special Exit Value' which lets you withdraw your policy mid-term and get your premiums back if you do not need the term plan anymore. The policy is available online for a hassle free purchase and offers 5% discount on first year premium. You can attach 2 riders to your Bandhan iTerm Prime plan namely Bandhan Life Accidental Death Rider and Bandhan Life Critical Illness Care Rider. The plan also gives you the advantage of detaching these riders when you do not need them at the next due date of your premiums after you have requested the same with the insurer.

Lets understand Bandhan Life iTerm Prime Plan in detail.

Eligibility Table

The user has to fulfil the following eligibility criteria :

Criteria Specifications
Entry Age Minimum: 18 Years
Maximum: 65 Years
Maturity Age Minimum
Regular Pay23 years
Limited Pay(10 Pay)33 years
Limited Pay(Pay Till 60)65 years
Maximum: 70 less entry age (For POS Channel: 65 Less entry age)
Policy Term Minimum
Regular Pay5 years
Limited Pay(10 Pay)15 years
Limited Pay (Pay till 60)(PPT + 5) years
Maximum: 70 Less entry age (For POS Channel: 65 Less entry age)
Premium Payment Term Regular Pay: Policy term
Limited Pay: 10 & 15 years | pay till age 60
Base Sum Assured Minimum- 25 Lakhs
Maximum- No upper limit
Premium Payment FrequencyAnnual, Half-yearly and Monthly

Key Benefits of Bandhan Life iTerm Prime

The plan comes with some amazing customer centric benefits such as:

  • Lump sum payout:
    The plan offers a lump sum death payout on the demise of the policyholder.
  • Affordable premiums:
    The premiums of Bandhan iTerm plan are easy on your pockets making it a high sum assured but budget friendly plan.
  • Special Exit Value:
    Once you reach the age of 55 years the policy gives you 1 year to avail this feature wherein withdraw your policy and get your paid premiums back after the deduction of GST. The plan will terminate after you avail this feature.
  • Tax Benefits:
    The plan offers tax benefits under section 80(C) of The Income Tax Act where you can save up to 1.5 lakhs per financial year.
  • Discounts:
    You get a 5% discount on your first-year premium with the Bandhan iTerm Prime plan.
  • Riders:
    To make your coverage more wholesome, you can add two riders with this plan which are Bandhan Life Accidental Death Rider and Bandhan Life Critical Illness Care Rider.

How Bandhan Life iTerm Insurance Plan Works

Let us understand the plan with an example :

Mr Purvesh Sharma is a 30-year-old male who doesn't smoke. He opts for the Bandhan Life iTerm Prime plan. Let us look at how much premium he will have to pay:

Sum Assured50 lakhs
Policy Term40 years (Coverage till age 70 years)
Premium Payment term40 years (Regular Pay)
Annualized PremiumRs 7249

If Purvesh passes away at the age of 60 years, the nominee of the policy will get a lump sum of 50 lakhs. After the death benefit payout, the policy will terminate.

Exclusions of Bandhan iTerm Insurance Plan

The plan doesn't offer the following benefits:

  • No policy loan is allowed.
  • No surrender benefit.
  • No option to customize the claim payout.
  • No maturity benefit.

Other Bandhan Term Insurance Plans

Bandhan Life offers easy-to-purchase life insurance solutions to cater to your life insurance requirements.

Bandhan Life Saral Jeevan Bima

A standard pure protection plan with simple terms and conditions providing death benefit to the family of the policyholder.

Unique Features

  • Simple & easy to understand
  • Cost-effective plan
  • Flexibility to select policy term

Saral Jeevan Bima (Pros)

  • Bandhan Life AD Rider
  • Choose To pay Premium Once
  • Max Sum Assured 25 L

Saral Jeevan Bima (Cons)

  • No Maturity Benefit
  • No Surrender Benefit
  • No Survival Benefit

Saral Jeevan Bima (Other Benefits)

  • Spouse Cover
  • Suicide Cover After 12 Months
  • Policy Revival Within 5 Years

Saral Jeevan Bima (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 5 L
  • Maximum Maturity Age - NA
  • Premium Payment Term - RP/SP/LP(5&10 Years)

Bandhan iTerm Comfort

A plan enriched with add-on riders for Accidental Death and Critical Illness, coupled with an assured life insurance cover that offers a lump-sum payout

Unique Features

  • Max Sum Assure 1.25 Cr
  • 105% Death Benefit
  • Special Exist Value At Age Of 55

iTerm Comfort (Pros)

  • Bandhan Life CI Care Rider
  • Bandhan Life AD Rider
  • Suicide Cover After 12 Months

iTerm Comfort (Cons)

  • No Maturity Benefit
  • No Surrender Benefit
  • No Loan Allowed

iTerm Comfort (Other Benefits)

  • Tax Benefit
  • Option to Attach or Detach Riders
  • Policy Revival Within 5 Years

iTerm Comfort (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 70 Yrs
  • Premium Payment Term - 40 Years

Bandhan iTerm Prime

This comprehensive policy offers the flexibility to enhance life coverage and attach or detach riders, with a choice of 4 riders and coverage for 36 critical illnesses.

Unique Features

  • Bandhan Life AD Rider
  • Bandhan Life Disability Rider
  • Non-Smoker and Female Discounts

iTerm Prime (Pros)

  • Bandhan Life Women CI Rider
  • Bandhan Life CI Care Rider
  • Bandhan Life WoP Rider on CI

iTerm Prime (Cons)

  • No Maturity Benefit
  • No Loan Allowed
  • Policy Terminates Post Payment of Death

iTerm Prime (Other Benefits)

  • Surrender Benefit
  • Inbuilt Terminal Illness Benefit
  • Life Coverage Till the Age of 100 Years

iTerm Prime (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 100 Yrs
  • Premium Payment Term - SP

Summary of Bandhan iTerm Plan

Bandhan iTerm Prime is a pure-term insurance plan that offers death benefits in case of the death of the policyholder. It is a simple plan that offers additional coverage through riders, the extra coverage includes situations like accidental death and critical illness. The plan does not offer any flexibility in premium payment terms, surrender benefits, and maturity benefits. It comes with high coverage and lower premiums so it is a good option if you are looking forward to a cost-effective term plan. Overall it is a pure protection plan with decent features, if you wish for an uncomplicated plan with affordable premium Bandhan iTerm Prime is the best option.

iTerm Prime Plan: FAQs

1. Is Bandhan iTerm Prime a costly plan?

No, the plan comes with affordable premiums and high coverage

2. What is the minimum sum assured of Bandhan iTerm Plan?

The minimum sum assured of the Bandhan iTerm Plan is 25 lakhs.

3. What is the max sum assured of Bandhan iTerm Policy?

Bandhan iTerm plan does not have an upper limit on the coverage. It depends on various factors such as your age, income, smoking habits, geographical location etc.

4. Does the plan offer a policy loan?

The policy does not offer a policy loan benefit.

5. Does iTerm Prime policy offer maturity benefits?

No Bandhan Life iTerm Prime doesn't come with maturity benefits.

6. Can I surrender my iTerm Prime plan?

No, the policy does not offer any surrender benefit, you can avail the 'Smart Exit Value' with the policy.

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Bandhan Term Insurance Reviews

Read what our customers have to say about Bandhan term insurance company

Customer Review Image

Shreya Chaudhary

Allahabad

April 8, 2024

I am very grateful to the insurance experts of PolicyX and Mr. Ankur, who kindly helped me settle the claim of Aegon Life Insurance. Thanks again, I& 039;ll always remember this favor.

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Neha negi

Jaipur

February 16, 2024

Policyx.com is a Top-notch insurance provider. Competitive rates and excellent coverage options.feels very satisfied with my recent purchase of aagon life insuance

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Yash Pratap Singh

Chennai

May 26, 2022

One of the best term insurance companies. I lost my wife to Covid. Glad that we had decided to buy Term Insurance from Aegon Life Insurance. After completing the formalities and documentation, ...

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prem khanna

Jaipur

February 24, 2022

I am here to write my experience with aegon insurance company. I always got satisfactory support from the company and their customer care people. They are educated and polite.

Customer Review Image

Namit Arora

Chandigarh

October 5, 2021

Super cmpny. with amzng prodcts. My family bought a life insurance from Aegon Life Insurance and they are very happy with the customer support.

Customer Review Image

Rashmi Chkrworty

Chennai

September 30, 2021

One of the best term insurance companies. I lost my husband to Covid. Glad that we had decided to buy Term Insurance from Aegon Life Insurance. After completing the formalities and documentatio...

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Satendar Singh Sodhi

Nagpur

September 30, 2021

Aegon Life Insurance is a name that I would recommend to everyone. With so many plans available, it is definitely one of the best you can buy.

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Sudhir Kumar Jha

Dehradun

September 20, 2021

Plans of Aegon have very very good features... and the companies customer support team is very polite and helpful,

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