Bandhan Life Insurance, the life insurance arm of Bandhan Group, has introduced iIncome Wealth, a new participating life insurance plan that offers instant income within 5 to 7 working days of premium payment and life cover up to 100 years. The plan combines guaranteed income, potential cash bonuses, and a unique ‘Secure Policy Benefit’ ensuring continued income, lump sum payout, and waiver of future premiums in case of the policyholder’s death.
With eligibility starting as early as three months of age, iIncome Wealth helps families plan for future goals like education, marriage, and home ownership. Women policyholders receive an additional 1.5% income, reinforcing Bandhan Life’s focus on financial inclusion. Customers can choose between flexible premium payment terms (5 to 12 years), coverage durations, and payout options, including loan facilities up to 80% of the surrender value.
In Imphal, the product has generated interest among middle-income families and working professionals. Financial planners believe that its early income feature and long-term security fill a crucial gap in the region where income stability is often challenged by job uncertainty and limited financial instruments.
Satishwar B., MD & CEO, Bandhan Life Insurance, emphasized the significance of this innovation:
“At Bandhan Life, we are committed to solving real-life financial challenges. A vast majority of Indians live from paycheque to paycheque, often without a safety net. For many, even managing basic monthly expenses can lead to borrowing. A job loss or medical emergency can throw families into financial turmoil.iIncome Wealth is designed to address this need head-on. Bandhan Life iIncome Wealth is more than just a policy; it’s a financial solutionthat not only provides life cover that lasts a lifetime but also offers an immediate supplementary income. Whether used for daily expenses or savingsfor bigger dreams, this supplementary incomeempowers our customers to live with dignity and confidence.”
