{"uin":"138N118V02","name":"Bandhan Life Guaranteed Income Plan","url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02","insurer":{"slug":"bandhan-life-insurance","name":"Bandhan Life Insurance Limited","url":"https://indiainsurances.com/insurer/bandhan-life-insurance"},"line":"life","category":"savings-life","category_name":"Endowment and savings plans","irdai_type":"Product","kind":"product","status":"active","approved_on":"2024-12-23","withdrawn_on":null,"summary":"Bandhan Life Guaranteed Income Plan is a non-linked non-participating individual savings life insurance plan with Flexi Start Option and Extended Benefit Option. It pays Secured Income during the policy term, provides a death benefit based on the higher of Sum Assured on Death and surrender value, and has a 30-day free-look period.","analysis":{"state":"machine","analysed_at":"2026-10-19 19:12:59.516467+00","note":"First pass: one AI reading; every stated fact carries a verbatim quote found in the cited clause, but it has not been reviewed. Check the clause before relying on it."},"facts":[{"key":"plan_variants","label":"Plans and variants","section":"Overview","meaning":"The named plans inside this product (not cover types or payout options). Facts can differ between them.","status":"quote-verified","value":["Flexi Start Option","Extended Benefit Option"],"display":"Flexi Start Option / Extended Benefit Option","note":null,"quote":"Plan Option | << Flexi Start Option / Extended Benefit Option >>","sources":[{"clause":null,"heading":"Base Plan Benefit","page":6,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4069#c-base-plan-benefit"}],"law":[]},{"key":"policy_term","label":"Policy term","section":"Eligibility","meaning":"How long one policy runs before it ends or must be renewed.","status":"quote-verified","value":"Flexi Start Option policy terms are 5, 6, 7, 8, 10 or 12 years. Extended Benefit Option policy terms are 10, 12, 15, 20, 25 or 30 years, subject to premium payment term and maturity age limits.","display":"Flexi Start: 5/ 6/ 7/ 8/ 10/12 years; Extended Benefit: 10/ 12/ 15/ 20/ 25/ 30 years","note":"For POS Channel, maximum policy term is 20 years. Minimum and maximum policy terms are also subject to the minimum and maximum maturity ages stated in the eligibility table.","quote":"Policy Term | Flexi Start Option:\nPolicy Term: 5/ 6/ 7/ 8/ 10/12 years Extended Benefit Option:\nPremium Payment Term | Policy Term (In Years)\n(In Years)\n5/ 6/ 7/ 8/ 10 | 10/ 12/ 15/ 20/ 25/ 30\n12 12/ 15/ 20/ 25/ 30","sources":[{"clause":null,"heading":"Income Period (in years) Max Maturity Age (in years)","page":10,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4064#c-income-period-in-years-max-maturity-age-in-years"}],"law":[]},{"key":"claim_intimation","label":"Claim intimation deadline","section":"Claims","meaning":"How soon you must tell the insurer about a claim or hospitalisation.","status":"quote-verified","value":"The required forms and documents should be furnished within 90 days from the date the insured event happens; the policy specifically refers to delay in intimation beyond 90 days from the date of death.","display":"Within 90 days from the date the insured event happens","note":null,"quote":"Filing Proof of Claim: Unless otherwise specified, duly filled in requisite forms along with necessary documents as stated above shall be furnished to us, at the claimant’s expenses, within 90 days from the date the Insured event happens. ... delay in intimation of claim beyond 90 days from the Date of Death of the Life Assured","sources":[{"clause":"F.5","heading":"Death Claim Requirements","page":26,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4069#c-f-5"}],"law":[{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 20, 21","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_documents","label":"Claim documents","section":"Claims","meaning":"Documents the insurer asks for when you claim.","status":"quote-verified","value":["Claimant statement form","Copy of death certificate issued by municipal corporation under section 12/17","KYC documents of claimant","Copy of self-attested cancelled cheque / Passbook copy of the claimant","Relationship proof (wherever applicable)","Employer’s Certificate (Form) for Life Assured, if employed","Cause of death certificate issued by the treating doctor","Medical records for all the treatments taken in past","Copy of medical records at the time of death","Copy of First Information Report (FIR)","Copy of Post-Mortem Report","Inquest report","Police Panchnama","Newspaper clipping (if available)","Police Final Report","Viscera Report / Chemical Analysis Report"],"display":"Claimant statement, death certificate, claimant KYC, cancelled cheque/passbook, relationship proof, employer certificate if employed; extra medical records for illness and police/FIR/post-mortem documents for accident, suicide or murder","note":"The claims department may call for further requirements wherever necessary.","quote":"Death | 1.Claimant statement form\n2.Copy of death certificate issued by municipal corporation under section 12/17 3.KYC documents of claimant ... 4.Copy of self-attested cancelled cheque / Passbook copy of the claimant 5.Relationship proof (wherever applicable) 6.Employer’s Certificate (Form) for Life Assured, if employed ... Sudden Death/ Death due to | 1.Cause of death certificate issued by the treating doctor\nIllness | 2.Medical records for all the treatments taken in past ... Death due to Accident/ | 1.Copy of First Information Report (FIR)\nSuicide/ Murder | 2.Copy of Post-Mortem Report\n3.Inquest report 4.Police Panchnama 5.Newspaper clipping (if available) 6.Police Final Report 7.Viscera Report / Chemical Analysis Report","sources":[{"clause":"F.5","heading":"Death Claim Requirements","page":26,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4069#c-f-5"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 17","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 23","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_settlement_time","label":"Claim settlement time promised","section":"Claims","meaning":"How quickly the policy says a claim is decided or paid, and from when that is counted (intimation or last document).","status":"quote-verified","value":"Claim decision is to be made within 15 days from receipt of claim intimation. If investigation is required, the claim decision will be made within 45 days of claim intimation.","display":"15 days from claim intimation; 45 days if investigation is required","note":null,"quote":"Claim decision shall be made within 15 days from date of receipt of claim intimation. In case investigation is required, claim decision will be made within 45 days of date of claim intimation.","sources":[{"clause":"3","heading":"Claim decision is made","page":7,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4060#c-3"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 64UM(4) to (6)","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 10","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 15","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 16","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(i), V.3(ii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.4","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 23","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"The Motor Vehicles Act, 1988: Chapter XI, insurance of motor vehicles against third party risks","section":"Section 149","url":"https://indiainsurances.com/law/motor-vehicles-act-1988"}]},{"key":"exclusions_main","label":"Main exclusions","section":"Exclusions","meaning":"What the policy does not pay for, in the policy's own words.","status":"quote-verified","value":["If death occurs due to suicide within 12 months, only 100% of Total Premiums Paid or Surrender Value, whichever is higher, is payable if the policy is in-force","For Flexi Start Option, Death Benefit is not applicable on death during the Income Period"],"display":"Suicide within 12 months is limited to 100% of Total Premiums Paid or surrender value, whichever is higher; Flexi Start has no death benefit during the Income Period","note":null,"quote":"If death occurs due to suicide within 12 months from the Date of Commencement of Risk under the Policy or from the Date of Revival of the Policy, as applicable the nominee or beneficiary of the Policyholder shall be entitled to 100% of the Total Premiums Paid till the date of death or the Surrender Value as available on date of death, whichever is higher, provided the Policy is In-force. ... <<For Flexi Start Option, in case of death of the Life Assured during the Income Period, Death Benefit is not applicable. However, the Guaranteed Income Payouts will continue to be paid till the end of the Income Period.>>","sources":[{"clause":"F.4","heading":"Suicide Exclusion","page":26,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4069#c-f-4"},{"clause":null,"heading":"C.2 Death Benefit","page":13,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4069#c-c-2-death-benefit"}],"law":[{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 11","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 16","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grievance","label":"Grievance route","section":"Claims","meaning":"Who to complain to first, as stated in the policy, before going to the Insurance Ombudsman.","status":"quote-verified","value":"A complaint can be registered through the website, customer portal, email, contact centre or letter to a service centre/head office. If there is no response within 2 weeks or the response is unsatisfactory, it can be escalated to the Grievance Redressal Officer at gro@bandhanlife.com before approaching the ombudsman.","display":"Register with Bandhan Life touch points first; escalate to Grievance Redressal Officer if no response within 2 weeks or not satisfied","note":null,"quote":"You can register complaint with any of the following touch points:\nWebsite: You can register the complaint via the complaints form available on our website - www.bandhanlife.com Customer Portal: Customer can register a complaint via our customer portal iassist.bandhanlife.com/login/ Emails: You can write to us on customer.care@bandhanlife.com from the registered e-mail ID. Contact Centre: You can call us on 1800 209 9090 from 9.00 am to 7.00 pm, Monday to Saturday excluding public holidays. Letters: You can write to us via letter at the nearest Policyholder Service centre or the Head Office. ... If You fail to get a response within 2 weeks or You are not satisfied with the response provided with regards to the complaint, You can also escalate the matter to the Grievance Redressal Officer. A - 201, 2nd Floor, Leela Business Park, Andheri-Kurla Road, Andheri (E),Mumbai - 400059.Email id - gro@bandhanlife.com.","sources":[{"clause":"G.2","heading":"Grievance Redressal Procedure","page":29,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4069#c-g-2"},{"clause":null,"heading":"Escalation Matrix","page":30,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4069#c-escalation-matrix"}],"law":[{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 3","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 4","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 5","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(11)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(42)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 34","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 69","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Insurance Act, 1938","section":"Section 38","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 12","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 19","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 20","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 13","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(5), 5(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(9)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 25","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 26","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 11","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"Review of revision in premium rates under health insurance policies for senior citizens, 2025","section":"Para 3","url":"https://indiainsurances.com/law/irdai-senior-premium-2025"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 13","url":"https://indiainsurances.com/law/ombudsman-rules-2017"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 14","url":"https://indiainsurances.com/law/ombudsman-rules-2017"}]},{"key":"sum_assured","label":"Sum assured","section":"Cover","meaning":"The minimum and maximum life cover, or the rule that sets it (for example 10 times the annual premium).","status":"quote-verified","value":"Base Sum Assured is 11 times the Annualized Premium. The prospectus states a minimum sum assured of ₹3,30,000, maximum INR 25,00,000 for POS channel, and no limit for channels other than POS, subject to the Board Approved Underwriting Policy.","display":"Base Sum Assured = 11 times Annualized Premium; minimum ₹3,30,000; POS maximum INR 25,00,000; other channels no limit subject to underwriting","note":null,"quote":"Base Sum Assured means an amount equal to 11 times the Annualized Premium. This is specified in the Policy Schedule. ... Sum Assured | Minimum:\n₹3,30,000 Maximum:\nFor POS channel: INR 25,00,000 (Subject to ‘Board Approved Underwriting Policy’ of the Company) For Channels other than POS Channel: No limit, subject to ‘Board Approved Underwriting Policy’ of the Company","sources":[{"clause":null,"heading":"Base Sum Assured","page":9,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4069#c-base-sum-assured"},{"clause":null,"heading":"Income Period (in years) Max Maturity Age (in years)","page":10,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4064#c-income-period-in-years-max-maturity-age-in-years"}],"law":[]},{"key":"death_benefit","label":"Death benefit","section":"Cover","meaning":"What your family gets if you die during the term, and how it is calculated.","status":"quote-verified","value":"If the policy is in-force and the life assured dies during the policy term, the claimant receives a lump sum equal to the maximum of Sum Assured on Death and surrender value as on date of death. Sum Assured on Death is the highest of 11 times Annualized Premium and 105% of Total Premiums Paid till date of death, with accumulated Secured Income if any paid along with it.","display":"Maximum of Sum Assured on Death and surrender value; Sum Assured on Death is highest of 11 times Annualized Premium and 105% of Total Premiums Paid, plus accumulated Secured Income if any","note":"For Flexi Start Option, death benefit is not applicable during the Income Period; Guaranteed Income payouts continue till the end of the Income Period.","quote":"If the Policy is In-force and the Life Assured dies during the Policy Term, Death Benefit shall be paid as a lumpsum to the Claimant.\nDeath Benefit shall be maximum of:\nSum Assured on Death; and Surrender Value as on date on death\nWhere Sum Assured on Death is the highest of: 11 times of Annualized Premium which is Base Sum Assured 105% of Total Premiums Paid till date of death\nAccumulated Secured Income (if any), if not paid earlier, will be paid along with the Death Benefit.","sources":[{"clause":null,"heading":"C.2 Death Benefit","page":13,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4069#c-c-2-death-benefit"}],"law":[]},{"key":"maturity_benefit","label":"Maturity benefit","section":"Cover","meaning":"What you get if you survive to the end of the term.","status":"quote-verified","value":"For Flexi Start Option, Guaranteed Income is paid in arrears from the end of the policy term plus one year through the income period, and if Return of Premium is opted, 100% of Total Premiums Paid plus 10% additional loyalty payout is paid at the end of the income period. For Extended Benefit Option, 100% of Total Premiums Paid is paid as a lump sum at the end of the policy term, with accumulated Secured Income if any also paid at the end of policy term.","display":"Flexi Start: Guaranteed Income during Income Period, with optional 100% Total Premiums Paid plus 10% loyalty payout if RoP opted; Extended Benefit: 100% of Total Premiums Paid at end of Policy Term","note":null,"quote":"<<For Flexi Start Option, Guaranteed Income shall be paid in arrear i.e starting from the end of (Policy Term + 1)th year till the end of Income Period. where Guaranteed Income = Guaranteed Income Rate * Annualized Premium\nIf Return of Premiums (RoP) benefit is opted by the Policyholder at inception, a lumpsum payout of 100% of Total Premiums Paid shall be paid at the end of Income Period. Further, an Additional Loyalty payout of 10% of Total Premiums Paid shall be paid along with the Return of Premiums (RoP) benefit. ... <<For Extended Benefit Option, the Policyholder shall receive 100% of Total Premiums Paid as lump sum at the end of the Policy Term.>>\nAccumulated Secured Income (if any), if not paid earlier will be paid as a lumpsum at the end of Policy Term.","sources":[{"clause":null,"heading":"C.3 Maturity Benefit","page":14,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4069#c-c-3-maturity-benefit"}],"law":[]},{"key":"premium_paying_term","label":"Premium paying term","section":"Premium","meaning":"For how many years you pay premiums.","status":"quote-verified","value":"Flexi Start Option is Regular Pay with premium payment term the same as the policy term: 5, 6, 7, 8, 10 or 12 years. Extended Benefit Option allows Regular Pay and Limited Pay, with premium payment terms 5, 6, 7, 8 or 10 years for policy terms 10, 12, 15, 20, 25 or 30 years, and premium payment term 12 years for policy terms 12, 15, 20, 25 or 30 years.","display":"Flexi Start: Regular Pay, same as 5/6/7/8/10/12 year policy term; Extended Benefit: Regular Pay and Limited Pay with PPT 5/6/7/8/10 or 12 years","note":null,"quote":"Premium Payment Term | Flexi Start Option:\nRegular Pay\nPremium Payment Term | Policy Term (In Years)\n(In Years)\nSame as premium 5/ 6/ 7/ 8/ 10/ 12 payment term\nExtended Benefit Option:\nRegular Pay and Limited Pay\nPremium Payment Term | Policy Term (In Years)\n(In Years)\n5/ 6/ 7/ 8/ 10 | 10/ 12/ 15/ 20/ 25/ 30\n12 12/ 15/ 20/ 25/ 30","sources":[{"clause":null,"heading":"Income Period (in years) Max Maturity Age (in years)","page":10,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4064#c-income-period-in-years-max-maturity-age-in-years"}],"law":[]},{"key":"maturity_age","label":"Maximum maturity age","section":"Eligibility","meaning":"The oldest age at which cover ends.","status":"quote-verified","value":"Minimum maturity age is 18 years. Maximum maturity age is 65 years for POS channel; for other channels it is 62 or 72 years under Flexi Start depending on income period, and 80 or 90 years under Extended Benefit depending on premium payment term.","display":"Maximum maturity age: POS 65 years; other channels Flexi Start 62/72 years, Extended Benefit 80/90 years","note":"If the Maximum Maturity Age goes beyond 80 years, the policy will be treated as a whole life assurance policy.","quote":"Maturity Age ^^ | Minimum:\n18 years Maximum:\nFor POS Channel: Maximum Maturity Age is restricted to 65 years For Channels other than POS Channel:\nFlexi Start option ... Income Period (in years) Max Maturity Age (in years)\n10/15 | 62\n20/ 25/ 30 | 72\nExtended Benefit option\nPremium Payment | Policy Term | Max Maturity\nTerm (in Years) | (in years) | Age (in years)\n5/ 6/ 7 | 10/12/15/20/25/30 | 80\n8/ 10/ 12 | 10/12/15/20/25/30 | 90","sources":[{"clause":null,"heading":"Income Period (in years) Maximum entry age (in years)","page":9,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4064#c-income-period-in-years-maximum-entry-age-in-year"},{"clause":null,"heading":"Income Period (in years) Max Maturity Age (in years)","page":10,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4064#c-income-period-in-years-max-maturity-age-in-years"}],"law":[]},{"key":"suicide_clause","label":"Suicide clause","section":"Exclusions","meaning":"What is paid if death is by suicide within the first 12 months.","status":"quote-verified","value":"If death occurs due to suicide within 12 months from commencement of risk or revival, the nominee or beneficiary receives 100% of Total Premiums Paid till death or the surrender value available on the date of death, whichever is higher, provided the policy is in-force. The policy terminates after this payment and no other benefits are payable.","display":"Within 12 months: 100% of Total Premiums Paid or surrender value, whichever is higher, if in-force","note":null,"quote":"If death occurs due to suicide within 12 months from the Date of Commencement of Risk under the Policy or from the Date of Revival of the Policy, as applicable the nominee or beneficiary of the Policyholder shall be entitled to 100% of the Total Premiums Paid till the date of death or the Surrender Value as available on date of death, whichever is higher, provided the Policy is In-force.\nThe policy terminates upon payment of such benefit and no other benefits will be payable.","sources":[{"clause":"F.4","heading":"Suicide Exclusion","page":26,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4069#c-f-4"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 21","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 35","url":"https://indiainsurances.com/law/irdai-life-products-2024"}]},{"key":"surrender","label":"Surrender value","section":"Renewal and rights","meaning":"What you get if you stop the policy early, and from when.","status":"quote-verified","value":"Surrender value becomes payable after completion of the first policy year provided one full year's premium has been received. On surrender, the higher of Guaranteed Surrender Value or Special Surrender Value is paid; Guaranteed Surrender Value is GSV factor times Total Premiums Paid minus Secured Income Paid till date and becomes payable after two consecutive years' premium.","display":"After completion of first policy year with one full year’s premium paid; higher of GSV or SSV, with GSV after two consecutive years’ premium","note":"Any accumulated Secured Income Payouts, if not paid earlier, are payable as a lump sum on surrender.","quote":"Surrender value shall become payable after completion of first policy year provided one full years’ premium has been received. On surrender, higher of Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV) will be paid as the Surrender Value (SV). ... GSV factor * Total Premiums Paid – Secured Income Paid till date\nGuaranteed Surrender shall become payable after payment of two consecutive years’ premium.","sources":[{"clause":"D.5","heading":"Surrender Benefit","page":20,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4069#c-d-5"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 26.1 to 26.3","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 26.4 and 26.5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 27","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.3","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.6","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.16 and 1.17","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(1) to (3)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(4) and (5)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(6) to (9)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(B)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 2(A)(vi)(c)(V)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"paid_up","label":"Paid-up value","section":"Renewal and rights","meaning":"What cover continues if you stop paying premiums after a few years.","status":"quote-verified","value":"After payment of the first policy year's premiums in full, if premiums are not paid, the policy continues as a reduced paid-up policy after the grace period until death, surrender or maturity. Benefits are reduced proportionately using Total Number of Premiums paid divided by Total Number of Premiums payable over the Policy Term, including reduced paid-up Secured Income, paid-up maturity benefit and paid-up death benefit.","display":"After first policy year’s premiums in full, policy becomes reduced paid-up after grace period; benefits scale by premiums paid / premiums payable","note":"Before payment of first policy year's premium in full, non-payment within the grace period causes lapse and life cover terminates.","quote":"On non-payment of Premium any time after payment of first Policy year’s Premiums in full, the Policy will not lapse but will continue as a reduced paid-up Policy upon expiry of grace period till termination due to death, surrender or Maturity, whichever is earlier. ... Once the policy is converted to paid-up all the benefits will be reduced proportionately to the extent of “Total Number of Premiums paid (t) / Total Number of Premiums payable over the Policy Term (n)”.","sources":[{"clause":"D.2.2","heading":"Discontinuance After Payment Of First Policy Year’s Premium In Full","page":17,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4069#c-d-2-2"},{"clause":"D.3","heading":"Reduced Paid-up Benefit","page":17,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4069#c-d-3"}],"law":[]},{"key":"revival","label":"Revival period","section":"Renewal and rights","meaning":"How long after lapsing you can restart the policy.","status":"quote-verified","value":"The policyholder has five consecutive complete years from the due date of first unpaid premium and before expiry of policy term to revive a lapsed or reduced paid-up policy. Revival is subject to the company's Board Approved Underwriting Policy and payment of all outstanding premiums with applicable interest.","display":"Five consecutive complete years from due date of first unpaid premium, before expiry of policy term","note":"The revival interest rate for FY 2025-26 is 8.50% p.a. compounded annually.","quote":"A Policyholder will have five consecutive complete years from the due date of first unpaid premium and before the expiry of Policy Term, to revive the lapsed or reduced paid-Up Policy.\nThe revival will be subject to the ‘Board Approved Underwriting Policy of the Company’ and payment of all outstanding premiums (including taxes) (if any) with applicable interest, if any, thereon.","sources":[{"clause":"D.4","heading":"Revival of the Policy","page":19,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4069#c-d-4"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 50","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.1 and 40.1.2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.4","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.6","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.7","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.10","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.28","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.39","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"policy_loan","label":"Policy loan","section":"Renewal and rights","meaning":"Whether you can borrow against the policy.","status":"quote-verified","value":"Loan is available once the policy has acquired surrender value. The maximum loan is 80% of surrender value on the date of loan, and outstanding loan and interest are recovered from benefits payable.","display":"Available after policy acquires surrender value; maximum 80% of surrender value","note":"The applicable loan interest rate for FY 2025-26 is 8.50% p.a.; policy foreclosure rules differ for in-force/fully paid-up versus other policies.","quote":"The Policyholder can avail loan under the Policy, provided the Policy has acquired Surrender Value. 1.The maximum amount of loan cannot exceed 80% of the Surrender Value as on the date of loan. ... 4.The outstanding loan amount and accumulated interest will be recovered from any benefits payable and rest of the benefit amount, if any, will be paid.","sources":[{"clause":"D.7","heading":"Loan","page":21,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4069#c-d-7"}],"law":[]},{"key":"riders_available","label":"Riders available","section":"Cover","meaning":"Optional add-ons such as accidental death, critical illness or waiver of premium.","status":"quote-verified","value":["Bandhan Life AD Rider"],"display":"Bandhan Life AD Rider","note":"The rider is optional, available at additional cost, and is not available for POSP – LI.","quote":"Bandhan Life Guaranteed Income Plan offers add-on optional coverage through the choice of ‘Bandhan Life AD Rider’. ... Bandhan Life AD Rider (UIN: 138B006V05 and all succeeding versions) provides a lumpsum benefit equal to the rider Sum Assured in case of death due to accident of the Life Assured.","sources":[{"clause":null,"heading":"Riders","page":19,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4064#c-riders"}],"law":[]},{"key":"section45","label":"Claims after 3 years (Section 45)","section":"Claims","meaning":"After 3 years a life policy cannot be questioned on any ground, and only for fraud with proof before that.","status":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"law":[{"title":"The Insurance Act, 1938","section":"Section 45","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 10","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 10","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.6","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 8","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"tax_note","label":"Tax note in the document","section":"Premium","meaning":"What the document says about tax benefits. Not stated when it only says taxes are charged on the premium. Tax law changes; confirm separately.","status":"quote-verified","value":"Tax benefits and benefits payable under the policy are as per prevailing Indian tax laws and are subject to changes. The policyholder is asked to consult a tax consultant for eligibility before claiming any benefit.","display":"Tax benefits as per prevailing tax laws; subject to changes; consult tax consultant","note":null,"quote":"The tax benefits and benefits payable under the Policy would be as per the prevailing provisions of the tax laws in India.Tax benefits are subject to changes in tax laws. You are requested to consult Your tax consultant and obtain independent advice for eligibility and before claiming any benefit under the policy.","sources":[{"clause":"F.8","heading":"Tax","page":28,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4069#c-f-8"}],"law":[]},{"key":"free_look","label":"Free-look period","section":"Renewal and rights","meaning":"Days after you receive the policy in which you can return it for a refund if you do not agree with its terms.","status":"quote-verified","value":{"unit":"days","amount":30},"display":"30 days","note":"No claim must have been made; refund is after deducting proportionate risk premium, medical expenses if any and stamp duty, and Secured Income paid if any is recovered.","quote":"“Free Look” period means a period of thirty (30) days from the date of receipt of the Policy, whether received electronically or otherwise, to review the terms and conditions of the Policy","sources":[{"clause":"D.1","heading":"Free Look Option","page":17,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4069#c-d-1"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 5","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(1), 20(2)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(3) to 20(5)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, II.8","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grace_period","label":"Grace period","section":"Renewal and rights","meaning":"Days you get after the due date to pay without losing cover or continuity.","status":"quote-verified","value":{"unit":"days","amount":30},"display":"30 days for non-monthly modes; 15 days for monthly mode","note":"The value and norm use the 30-day grace period for modes other than monthly; monthly mode has 15 days.","quote":"Grace Period means the 15 (Fifteen) days from the due date of the unpaid Premium for monthly Premium payment mode and 30 (Thirty) days from the due date of unpaid Premium for all other Premium payment modes. The Policy will be In-force during the Grace Period.","sources":[{"clause":null,"heading":"C.5 Grace Period","page":15,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4069#c-c-5-grace-period"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 50","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 8","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 9","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 8","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.2","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 1.3","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"eligibility_entry_age","label":"Entry age","section":"Eligibility","meaning":"The youngest and oldest age at which you can buy this policy.","status":"quote-verified","value":"Minimum entry age is 6 years for Flexi Start and 0 years (3 months) for Extended Benefit, subject to minimum maturity age of 18 years. Maximum entry age is 50 or 60 years for Flexi Start depending on income period, and 50 or 60 years for Extended Benefit depending on premium payment term.","display":"Minimum: Flexi Start 6 years, Extended Benefit 0 years (3 months); maximum: 50/60 years depending option and term","note":"All ages are as on last birthday.","quote":"Entry Age ^^ | Minimum:\nFlexi Start option: 6 years subject to the minimum maturity age of 18 years\nExtended Benefit option: 0 years (3 months) subject to the minimum maturity age of 18 years\nMaximum:\nFlexi Start option: ... Income Period (in years) Maximum entry age (in years)\n10/15 | 50\n20/ 25/ 30 | 60 ... Extended Benefit option:\nPremium Payment | Policy Term | Maximum entry\nTerm (in Years) | (in years) | age (in years)\n5/ 6/ 7 | 10/12/15/20/25/30 | 50\n8/ 10/ 12 | 10/12/15/20/25/30 | 60","sources":[{"clause":null,"heading":"Eligibility Conditions","page":9,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4064#c-eligibility-conditions"},{"clause":null,"heading":"Income Period (in years) Maximum entry age (in years)","page":9,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4064#c-income-period-in-years-maximum-entry-age-in-year"}],"law":[]},{"key":"premium_modes","label":"Premium payment options","section":"Premium","meaning":"How often you can pay: yearly, half-yearly, quarterly, monthly.","status":"quote-verified","value":["annual","half-yearly","quarterly","monthly"],"display":"annual, half-yearly, quarterly or monthly","note":null,"quote":"The Premium can be paid as per the Premium Payment Frequency opted by You. It can be annual, half-yearly quarterly or monthly.","sources":[{"clause":null,"heading":"C.4 Payment of Premium","page":15,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4069#c-c-4-payment-of-premium"}],"law":[]},{"key":"premium_type","label":"Premium payment type","section":"Premium","meaning":"Single premium, regular premium (every year of the term) or limited premium (fewer years than the term).","status":"quote-verified","value":["Regular Pay","Limited Pay"],"display":"Flexi Start: Regular Pay; Extended Benefit: Regular Pay and Limited Pay","note":null,"quote":"Premium Payment Term | Flexi Start Option:\nRegular Pay ... Extended Benefit Option:\nRegular Pay and Limited Pay","sources":[{"clause":null,"heading":"Income Period (in years) Max Maturity Age (in years)","page":10,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4064#c-income-period-in-years-max-maturity-age-in-years"}],"law":[]},{"key":"guaranteed_benefits","label":"Guaranteed benefits","section":"Cover","meaning":"What is guaranteed, in rupees or as a formula, regardless of the insurer's performance.","status":"quote-verified","value":"Secured Income is guaranteed as Secured Income Rate multiplied by Annualized Premium during the policy term. Flexi Start also pays Guaranteed Income as Guaranteed Income Rate multiplied by Annualized Premium during the income period, with optional Return of Premium of 100% of Total Premiums Paid plus 10% additional loyalty payout; Extended Benefit pays 100% of Total Premiums Paid at the end of the policy term.","display":"Secured Income = Secured Income Rate × Annualized Premium; Flexi Guaranteed Income = Guaranteed Income Rate × Annualized Premium; optional RoP 100% plus 10% loyalty; Extended Benefit 100% of Total Premiums Paid","note":"Return of Premium is an option chosen at inception under Flexi Start.","quote":"Secured Income = Secured Income Rate * Annualized Premium ... <<For Flexi Start Option, Guaranteed Income shall be paid in arrear i.e starting from the end of (Policy Term + 1)th year till the end of Income Period. where Guaranteed Income = Guaranteed Income Rate * Annualized Premium\nIf Return of Premiums (RoP) benefit is opted by the Policyholder at inception, a lumpsum payout of 100% of Total Premiums Paid shall be paid at the end of Income Period. Further, an Additional Loyalty payout of 10% of Total Premiums Paid shall be paid along with the Return of Premiums (RoP) benefit. ... <<For Extended Benefit Option, the Policyholder shall receive 100% of Total Premiums Paid as lump sum at the end of the Policy Term.>>","sources":[{"clause":null,"heading":"C1. Survival Benefit","page":13,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4069#c-c1-survival-benefit"},{"clause":null,"heading":"C.3 Maturity Benefit","page":14,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4069#c-c-3-maturity-benefit"}],"law":[]},{"key":"bonus","label":"Bonus type","section":"Cover","meaning":"Participating plans share profits as bonuses; these are NOT guaranteed.","status":"quote-verified","value":"No bonus is stated; the product is described as non-participating.","display":"Non-Participating","note":null,"quote":"A Non-Linked Non- Participating Life Insurance Individual Savings Plan","sources":[{"clause":null,"heading":null,"page":1,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4069#c-s1"}],"law":[]},{"key":"illustration_returns","label":"Illustrated returns","section":"Cover","meaning":"The benefit illustration at the IRDAI rates (4% and 8%); not a promise.","status":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"law":[]},{"key":"money_back","label":"Survival or money-back payouts","section":"Cover","meaning":"Instalments paid during the term.","status":"quote-verified","value":"If the policy is in-force, the policyholder receives Secured Income payouts during the policy term, from the 1st policy year until death of the life assured or end of policy term, whichever is earlier. Under Flexi Start, if deferment is chosen, the payout starts from the end of the deferment year plus one policy year; payouts can be monthly, quarterly, half-yearly or yearly.","display":"Secured Income from 1st Policy Year until death or end of Policy Term; deferment possible under Flexi Start; monthly, quarterly, half-yearly or yearly","note":null,"quote":"<<Flexi Start Option: If the Policy is in-force, then the Policyholder shall receive Secured Income payout in arrears from the 1st Policy Year until death of the Life Assured or end of Policy Term, whichever is earlier. In case deferment option is chosen then the Secured Income Payout shall start from the end of (Deferment Year + 1)th Policy Year.>>\n<<Extended Benefit Option: If the Policy is in-force, then the Policyholder shall receive Secured Income payout in arrears from the 1st Policy Year until death of the Life Assured or end of Policy Term, whichever is earlier.>>\nSecured Income = Secured Income Rate * Annualized Premium\nThe Policyholder can opt to receive Secured Income payouts at a monthly, quarterly, half-yearly or yearly frequency.","sources":[{"clause":null,"heading":"C1. Survival Benefit","page":13,"url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4069#c-c1-survival-benefit"}],"law":[]}],"documents":[{"kind":"wording","label":"Bandhan Life Guaranteed Income Plan Policy Document.pdf","pages":42,"fetched_at":"2026-10-17 19:31:06+00","source_url":"https://www.bandhanlife.com/sites/default/files/asset/2026-04/Bandhan%20Life%20GIP%20PD.pdf","url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4069"},{"kind":"wording","label":"Bandhan Life Guaranteed Income Plan Product T&C","pages":42,"fetched_at":"2026-10-17 19:37:35+00","source_url":"https://www.bandhanlife.com/sites/default/files/asset/2026-01/Bandhan%20Life%20Guaranteed%20Income%20Plan%20Policy%20Document.pdf","url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4323"},{"kind":"prospectus","label":"Bandhan Life Guaranteed Income Plan Brochure / Prospectus","pages":23,"fetched_at":"2026-10-17 19:31:03+00","source_url":"https://www.bandhanlife.com/sites/default/files/asset/2026-04/Bandhan%20Life%20GIP_Brochure.pdf","url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4064"},{"kind":"cis","label":"Bandhan Life Guaranteed Income Plan Customer Information Sheet.pdf","pages":12,"fetched_at":"2026-10-17 19:30:53+00","source_url":"https://www.bandhanlife.com/sites/default/files/asset/2026-03/Bandhan-Life-GIP-CIS.pdf","url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4060"},{"kind":"cis","label":"Bandhan Life Guaranteed Income Plan Key Feature Document.pdf","pages":8,"fetched_at":"2026-10-17 19:31:02+00","source_url":"https://www.bandhanlife.com/sites/default/files/asset/2026-04/Bandhan%20Life%20GIP%20V02_KFD.pdf","url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4062"},{"kind":"brochure","label":"Bandhan Life Guaranteed Income Plan Leaflet.pdf","pages":9,"fetched_at":"2026-10-17 19:30:55+00","source_url":"https://www.bandhanlife.com/sites/default/files/asset/2026-03/Bandhan-Life-GIP-Leaflet.pdf","url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/4058"},{"kind":"proposal","label":"Bandhan Life Guaranteed Income Plan Proposal Form.pdf","pages":null,"fetched_at":"2026-10-17 19:30:57+00","source_url":"https://www.bandhanlife.com/sites/default/files/asset/2026-04/Bandhan%20Life%20GIP%20V01_PF.pdf","url":"https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02/document/18673"}],"versions":[{"uin":"138N118V01","version":null,"approved_on":null},{"uin":"138N118V02","version":null,"approved_on":null}],"where_to_buy":[{"purpose":"buy","kind":"insurer","name":"Bandhan Life Insurance official website","url":"https://www.bandhanlife.com/","note":"Buy directly from the insurer."},{"purpose":"buy","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."}],"claims_and_complaints":[{"purpose":"claim","kind":"insurer","name":"Claim process","url":"https://www.bandhanlife.com/customer-service/claims-process","note":null},{"purpose":"claim","kind":"insurer","name":"File a claim","url":"https://www.bandhanlife.com/claims/","note":null},{"purpose":"claim","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."},{"purpose":"grievance","kind":"insurer","name":"Register a complaint","url":"https://www.bandhanlife.com/register-complaint","note":null},{"purpose":"grievance","kind":"official","name":"Bima Bharosa (IRDAI grievance portal)","url":"https://bimabharosa.irdai.gov.in/","note":"Register and track a complaint against any insurer with IRDAI. Complain to the insurer first; escalate here if the reply is late or unsatisfactory."},{"purpose":"grievance","kind":"official","name":"e-Daakhil (consumer commission e-filing)","url":"https://edaakhil.nic.in/","note":"Not reachable from our crawler on 2026-10-19; use e-Jagriti if this link does not open."},{"purpose":"grievance","kind":"official","name":"e-Jagriti (consumer commission filing)","url":"https://e-jagriti.gov.in/","note":"Ministry of Consumer Affairs platform for consumer commission cases, a route for insurance disputes that the Ombudsman does not settle."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Ahmedabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Gujarat, Dadra & Nagar Haveli, Daman and Diu. Email: oio.ahmedabad@cioins.co.in. Phone: 079 - 25501201/02. Address: Office of the Insurance Ombudsman, Jeevan Prakash Building, 6th floor, Tilak Marg, Relief Road, AHMEDABAD – 380 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bengaluru","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Karnataka. Email: oio.bengaluru@cioins.co.in. Phone: 080 - 26652048 / 26652049. Address: Office of the Insurance Ombudsman, Jeevan Soudha Building,PID No. 57-27-N-19 Ground Floor, 19/19, 24th Main Road, JP Nagar, Ist Phase, Bengaluru – 560 078."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhopal","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Madhya Pradesh, Chhattisgarh. Email: oio.bhopal@cioins.co.in. Phone: 0755 - 2769201 / 2769202 / 2769203. Address: Office of the Insurance Ombudsman, 1st floor,\"Jeevan Shikha\", 60-B,Hoshangabad Road, Opp. Gayatri Mandir,Arera Hills Bhopal – 462 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhubaneswar","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Odisha. Email: oio.bhubaneswar@cioins.co.in. Phone: 0674 - 2596461 /2596455/2596429/2596003. Address: Office of the Insurance Ombudsman, 62, Forest park, Bhubaneswar – 751 009."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chandigarh","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Punjab, Haryana (excluding Gurugram, Faridabad, Sonepat and Bahadurgarh), Himachal Pradesh, Union Territories of Jammu & Kashmir,Ladakh & Chandigarh. Email: oio.chandigarh@cioins.co.in. Phone: 0172-2706468. Address: Office Of The Insurance Ombudsman, Jeevan Deep Building SCO 20-27, Ground Floor Sector- 17 A, Chandigarh – 160 017."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chennai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Tamil Nadu, PuducherryTown and Karaikal (which are part of Puducherry). Email: oio.chennai@cioins.co.in. Phone: 044 - 24333668 / 24333678. Address: Office of the Insurance Ombudsman, Fatima Akhtar Court, 4th Floor, 453, Anna Salai, Teynampet, CHENNAI – 600 018."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Delhi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Delhi & following Districts of Haryana - Gurugram, Faridabad, Sonepat & Bahadurgarh. Email: oio.delhi@cioins.co.in. Phone: 011 - 46013992/23213504/23232481. Address: Office of the Insurance Ombudsman, 2/2 A, Universal Insurance Building, Asaf Ali Road, New Delhi – 110 002."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Guwahati","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Assam, Meghalaya, Manipur, Mizoram, Arunachal Pradesh, Nagaland and Tripura. Email: oio.guwahati@cioins.co.in. Phone: 0361 - 2632204 / 2602205 / 2631307. Address: Office of the Insurance Ombudsman, Jeevan Nivesh, 5th Floor, Near Pan Bazar , S.S. Road, Guwahati – 781001(ASSAM)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Hyderabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Andhra Pradesh, Telangana, Yanam and part of Union Territory of Puducherry. Email: oio.hyderabad@cioins.co.in. Phone: 040 - 23312122 / 23376991 / 23376599 / 23328709 / 23325325. Address: Office of the Insurance Ombudsman, 6-2-46, 1st floor, \"Moin Court\", Lane Opp.Hyundai Showroom , A. C. Guards, Lakdi-Ka-Pool, Hyderabad - 500 004."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Jaipur","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Rajasthan. Email: oio.jaipur@cioins.co.in. Phone: 0141- 2740363. Address: Office of the Insurance Ombudsman, Jeevan Nidhi – II Bldg., Gr. Floor, Bhawani Singh Marg, Jaipur - 302 005."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kochi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Kerala, Lakshadweep, Mahe-a part of Union Territory of Puducherry. Email: oio.ernakulam@cioins.co.in. Phone: 0484 - 2358759. Address: Office of the Insurance Ombudsman, 10th Floor, Jeevan Prakash,LIC Building, Opp to Maharaja's College Ground,M.G.Road, Kochi - 682 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kolkata","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: West Bengal, Sikkim, Andaman & Nicobar Islands. Email: oio.kolkata@cioins.co.in. Phone: 033 - 22124339 / 22124341. Address: Office of the Insurance Ombudsman, Hindustan Bldg. Annexe, 7th Floor, 4, C.R. Avenue, KOLKATA - 700 072."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Lucknow","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Districts of Uttar Pradesh : Lalitpur, Jhansi, Mahoba, Hamirpur, Banda, Chitrakoot, Allahabad, Mirzapur, Sonbhabdra, Fatehpur, Pratapgarh, Jaunpur,Varanasi, Gazipur, Jalaun, Kanpur, Lucknow, Unnao, Sitapur, Lakhimpur, Bahraich, Barabanki, Raebareli, Sravasti, Gonda, Faizabad, Amethi, Kaushambi, Balrampur, Basti, Ambedkarnagar, Sultanpur, Maharajgang, Santkabirnagar, Azamgarh, Kushinagar, Gorkhpur, Deoria, Mau, Ghazipur, Chandauli, Ballia, Sidharathnagar. Email: oio.lucknow@cioins.co.in. Phone: 0522 - 4002082 / 3500613. Address: Office of the Insurance Ombudsman, 6th Floor, Jeevan Bhawan, Phase-II, Nawal Kishore Road, Hazratganj, Lucknow - 226 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Mumbai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: List of wards under Mumbai Metropolitan Region excluding wards in Mumbai – i.e M/E, M/W, N , S and T covered under Office of Insurance Ombudsman Thane and excluding areas of Navi Mumbai. Email: oio.mumbai@cioins.co.in. Phone: 022 - 69038800/27/29/31/32/33. Address: Office of the Insurance Ombudsman, 3rd Floor, Jeevan Seva Annexe, S. V. Road, Santacruz (W), Mumbai - 400 054."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Noida","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Uttarakhand and the following Districts of Uttar Pradesh: Agra, Aligarh, Bagpat, Bareilly, Bijnor, Budaun, Bulandshehar, Etah, Kannauj, Mainpuri, Mathura, Meerut, Moradabad, Muzaffarnagar, Oraiyya, Pilibhit, Etawah, Farrukhabad, Firozbad, Gautam Buddh nagar, Ghaziabad, Hardoi, Shahjahanpur, Hapur, Shamli, Rampur, Kashganj, Sambhal, Amroha, Hathras, Kanshiramnagar, Saharanpur. Email: oio.noida@cioins.co.in. Phone: 0120-4027589. Address: Office of the Insurance Ombudsman, Bhagwan Sahai Palace 4th Floor, Main Road, Naya Bans, Sector 15, Distt: Gautam Buddh Nagar, U.P-201301."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: offices and jurisdiction","url":"https://www.cioins.co.in/Ombudsman","note":"Addresses, phone numbers, e-mail and the states or districts each Ombudsman office covers."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Patna","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Bihar, Jharkhand. Email: oio.patna@cioins.co.in. Phone: 0612-2547068. Address: Office of the Insurance Ombudsman, 2nd Floor, Lalit Bhawan, Bailey Road, Patna 800 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Pune","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Goa and State of Maharashtra excluding areas of Navi Mumbai, Thane district,Palghar District, Raigad district & Mumbai Metropolitan Region. Email: oio.pune@cioins.co.in. Phone: 020-24471175. Address: Office of the Insurance Ombudsman, Jeevan Darshan Bldg., 3rd Floor, C.T.S. No.s. 195 to 198, N.C. Kelkar Road, Narayan Peth, Pune – 411 030."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: register a complaint online","url":"https://cioins.co.in/Complaint/Online","note":"Council for Insurance Ombudsmen. Free. For disputes with an insurer after its own grievance process; the office is chosen by where you live (see the offices list)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Thane","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Area of Navi Mumbai, Thane District, Raigad District, Palghar District and wards of Mumbai , M/East, M/West, N, S and T. Email: oio.thane@cioins.co.in. Phone: 022-20812868/69. Address: Office of the Insurance Ombudsman, Jeevan Chintamani Building, 2nd Floor,Near New RTO Office, Louis Wadi,Vasantrao Naik Mahamarg, Thane (West)- 400604."},{"purpose":"grievance","kind":"official","name":"National Consumer Helpline","url":"https://consumerhelpline.gov.in/public/","note":"Government consumer helpline; can take up a complaint before you go to a consumer commission."},{"purpose":"port","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."}],"notice":"Information, not advice. IndiaInsurances is not an insurer or an insurance intermediary, does not sell insurance and earns no commission. Policy terms change and your own policy schedule can differ: always confirm with the policy document and the insurer before you buy or claim.","cite_as":"Bandhan Life Guaranteed Income Plan (UIN 138N118V02), IndiaInsurances, https://indiainsurances.com/policy/bandhan-life-insurance/bandhan-life-guaranteed-income-plan-138n118v02"}