Bandhan Life unveils iRetire plan with guaranteed lifelong income for individuals aged 45–80

Bandhan Life Insurance, the life insurance arm of Bandhan Group, has announced the launch of Bandhan Life iRetire, a retirement solution designed to provide financial freedom, peace of mind, and the confidence to live life on one’s own terms. The plan focuses on offering guaranteed lifelong income, ensuring that retirement is not about financial compromises but about enjoying the life built through years of hard work. With iRetire, policyholders can look forward to a steady stream of income for as long as they live, helping them plan their golden years without stress.

Key highlights

Bandhan Life iRetire is a non-linked, non-participating Individual Savings General Annuity Plan. The policy converts a retirement corpus into a regular lifelong income, making it an attractive option for those seeking stability post-retirement.

Annuity Plan – Provides a consistent income throughout retirement.

Non-Linked – Returns are independent of market fluctuations.

Non-Participating – Does not share in the insurer’s profits.

Savings-Oriented – Designed for individuals planning long-term financial security.

Life Insurance Cover – Offers protection alongside annuity benefits.

Flexibility and options

Customers can select from two primary annuity choices:

Life Annuity – Pays a regular income for as long as the policyholder lives.

Life Annuity with Return of Purchase Price (ROP) – Ensures lifetime income for the annuitant, and upon their demise, the original investment is returned to the nominee.

Additionally, customers can opt for Single Life or Joint Life annuity. Under the Joint Life option, income continues for the spouse or secondary annuitant, ensuring family support even in the absence of the primary policyholder.

Added protections

Beyond financial security, iRetire extends a layer of care. Under the Single Life, Life Annuity with ROP option, if the annuitant is diagnosed with a covered critical or terminal illness, they can access funds when needed most. This feature makes iRetire more than just a retirement plan—it becomes a safeguard during life’s uncertainties.

Eligibility and coverage

The plan is available to individuals aged 45 to 80 years, catering to a wide spectrum of retirement planning needs. Whether one seeks to secure their own future or leave a legacy for family, iRetire provides dignity, assurance, and joy in the retirement journey.

Commenting on the launch, Satishwar B, MD & CEO of Bandhan Life, said: “At Bandhan Life, we believe retirement should mark new possibilities, not financial concerns. With iRetire, customers gain steady income and the freedom to live on their own terms. It’s about celebrating today while securing tomorrow.”

The launch follows Bandhan Life’s July introduction of the Centenarian Plan, which provides coverage up to 100 years of age with instant income benefits and a unique “secure policy benefit” ensuring continued payouts for families without future premium payments.