Bandhan Life Future Protect Plus Insurance Plan

Details About Premium

Illustration for a policy term and PPT of 20 years

Policy Details

Grace period: 15 days grace period is allowed for monthly mode and 30 days for other modes

Policy termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Discontinuance Policy Fund where it will earn a minimum of 4% p.a. growth. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges

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

• 4 Free Partial withdrawals are allowed every year with a maximum of 20% of the Fund Value
• Systematic Partial Withdrawals are also available under which units are redeemed periodically and the proceeds are transferred to the policyholder’s bank account
• 4 Free switches are allowed every year for switching between funds
• Future premiums can be redirected to a new fund via the Premium Redirection option of which 2 are free
• Top-ups with a minimum of Rs.5000 are allowed for increasing the Fund Value

Additional Features or Riders

• The Sum Assured under the plan can be increased by up to 50% of the base SA or 10 lakhs whichever is lower without any extra medical requirements within 3 months of marriage or child birth
• Under Auto Rebalancing feature, the fund is rebalanced every year according to the ratio chosen at inception

Exclusions

The benefit paid in case of suicide within 12 months of policy inception or revival is the fund value as on that date. If suicide is committed within 1 year after increasing the SA, the increased SA will not be applicable

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history and provide KYC documents. Medical tests may be required as per the underwriting principles of the company.

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