Bandhan Life launches ULIP Plus: High life cover up to 50x premium with market-linked returns

Bandhan Life Insurance has introduced a new unit-linked insurance plan (ULIP) called ULIP Plus, which blends significant life cover with long-term investment growth. The plan offers life insurance coverage of up to 50 times the annual premium, making it ideal for individuals seeking strong financial protection along with wealth creation.

Key benefits include the return of premium allocation and mortality charges, flexible investment options across equity and debt funds, and a special premium discount for women policyholders. The plan is designed to help policyholders grow their money through market-linked returns while securing their family's financial future. With additional value-added features over the long term, ULIP Plus aims to meet both protection and investment goals in a single product.

The ULIP Plus plan is engineered to deliver financial security paired with strategic investment opportunities, appealing to those looking for comprehensive financial planning solutions. 

ULIP Plus is structured to provide an impressive level of protection, ensuring nominees receive the greater of the fund value or the base sum assured, with a guaranteed minimum payout of 105% of total premiums paid. The plan further includes top-up benefits to boost overall coverage and fund growth. It encourages wealth-building through access to a variety of high-performing funds, each crafted to yield consistent, risk-adjusted returns across different market conditions. Saibal Ghosh, Chief Investment Officer at Bandhan Life, stated, "ULIP Plus is designed to give investors more control and confidence."

Key details

ULIP (Unit Linked Insurance Plan): A hybrid financial product that combines life insurance with investment. Part of your premium goes toward life cover; the rest is invested in funds (equity, debt, or hybrid).

50x Life Cover: If you pay ₹1 lakh annually, you could get a life insurance cover of up to ₹50 lakh. This is higher than many traditional plans.

Return of Charges: Typically, some charges like premium allocation and mortality charges reduce your returns. This plan gives back those charges after a certain period, increasing overall value.

Flexible Investment Options: You can choose how your money is invested, depending on your risk appetite and financial goals.

Special Discount for Women: Female policyholders get a pricing benefit, possibly through lower charges or higher returns.

Long-term Value Additions: The plan likely includes loyalty additions or fund boosters over time, rewarding policyholders who stay invested. 

Investment strategies

The plan is notably flexible, allowing customers to select from a wide range of investment options and make withdrawals as needed. Policyholders can customise their investment strategies through a Self-Managed Portfolio, directing premiums across segregated funds according to personal risk appetite and financial objectives. This flexibility is further extended with premium payment terms ranging from 20 to 40 years, and policy maturity extending up to age 85, enabling individuals to align their coverage with their life stages and ambitions.

To incentivise long-term commitment, the ULIP Plus plan returns allocation charges after ten years and up to three times the mortality charges from the eleventh year onwards. Additionally, loyalty additions commence from the seventh year, further enhancing the fund's value. Special discounts on charges for women customers are also offered, promoting inclusive wealth creation opportunities. This plan not only supports diverse financial goals but also ensures that policyholders benefit from both protection and growth potential.

Bandhan Life Insurance positions ULIP Plus as a robust financial tool, blending security with growth potential, thus supporting long-term goal achievement across various life stages. The company aims to meet the evolving financial needs of its customers by offering a plan that balances high protection with significant growth opportunities.

As Satishwar B., MD & CEO of Bandhan Life Insurance, highlighted, "With rising costs, relying on a single income is no longer enough—real financial security needs a smarter approach. Whether it’s a dream home, education, or a worry-free retirement, ULIP Plus gives customers that ‘plus factor’: high protection, growth potential, and flexibility all in one plan."