Bandhan Term Insurance
Bandhan Life Saral Jeevan Bima is a pure protection, simple, and easy- ...Read More
A quick read on what this Bandhan Term Insurance term plan covers and why it might be a fit for you.
Bandhan Life Saral Jeevan Bima is a pure protection, simple, and easy-to-understand plan that offers a death benefit to your nominee in case of your demise. The plan comes with flexible premium paying terms and modes so that you can choose the best option for yourself.
You can purchase this plan at the age of 18 years up to 65 years. The minimum sum assured offered is ₹5 lakhs and the maximum is ₹25 lakhs.
Bandhan Life Saral Jeevan Bima offers you a range of benefits including:
A quick honest summary — the strengths and the trade-offs.
Eligibility criteria pulled straight from the policy wording.
Let's understand how the Bandhan Life Saral Jeevan Bima works with a simple premium illustration.
Ms. Riya Kumari, a 30-year-old NREGA worker based in Maharashtra, is looking for a term insurance plan that offers inbuilt critical illness cover.
She visited PolicyX.com to learn more about term plans. PolicyX.com advisors carefully analyze her queries and suggest purchasing Bandhan Life Saral Jeevan Bima.
Let us see a brief illustration of Riya Kumari's Bandhan Life Saral Jeevan term plan:
| Age of policyholder | Annual premiums | Premium payment mode | Policy tenure | Premium payment term | Total premiums paid | Sum assured |
| 30 years | Rs 9,287 | Annually | 40 years | 40 years | Rs 3,71,480 | Rs 25 lakhs |
Key Takeaways: Riya Kumari will be covered until the age of 70 years, and in case of her unfortunate demise during the policy term, her nominee will receive a sum assured of Rs. 25 lakh.
You can add the following riders to your Bandhan Life Saral Jeevan Bima Plan:
Provides a lump-sum benefit. In case of the unfortunate demise of the life insured during the policy term, this rider offers a lump-sum payout equal to the rider sum assured to the nominee.
Key features that make Bandhan Life Saral Jeevan Bima stand out.
Affordable premiums
Bandhan Life Saral Jeevan Bima comes with very affordable premiums; a basic term plan with ₹5 lakhs of sum assured starts at just ₹163 per month.
Flexible policy and premium payment term
Bandhan Life Saral Jeevan Bima comes with flexible policy terms and premium payment terms; the minimum policy tenure is 5 years, which goes up to 40 years.
Hassle-free process
From purchase to claim, the Bandhan Life Saral Jeevan Bima plan offers a hassle-free process. The company claims that if all documents are correct, your claim will be settled in 30 days.
Availability of riders
Riders play a crucial role in enhancing the protection of the life insured. Bandhan Life Saral Jeevan Bima offers an accidental death benefit rider for an additional benefit upon the demise of the life insured due to an accident.
Here are the key benefits of the Bandhan Life Saral Jeevan Bima.
Death benefit
Upon the demise of the life insured during the policy term, this plan pays the death benefit as the highest of the following: 10 times the Annualized Premium or 105% of all premiums paid as of the date of death.
Tax benefit
The premiums paid for Bandhan Life Saral Jeevan Bima are eligible for a tax rebate of up to ₹1.5 lakhs under Section 80C of the Income Tax Act, 1961.
Easy Medical issuance
The issuance process for Bandhan Life Saral Jeevan Bima is hassle-free and quick.
Here is the list of exclusions associated with the plan:
Bandhan Life Saral Jeevan Bima is a simple, easy-to-understand term insurance plan. It offers life coverage at affordable premiums along with tax benefits as per the law. If you are still confused about which term plan is best for you, then you can contact us at PolicyX.com. One of our insurance representatives will contact you shortly, understand your requirements, and help you choose a plan that suits your needs.
The 7 most-asked questions about Bandhan Life Saral Jeevan Bima, answered.
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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