What are the entry age and maximum cover age for iTerm Prime?

Entry age is 18 to 65 years (maximum 50 years for limited pay). The current version lists a maximum maturity age of 85 years, so cover can run up to age 85 depending on entry age and policy term.

What is the minimum sum assured in iTerm Prime?

The minimum base sum assured is ₹25 lakh. There is no stated maximum, subject to the insurer's Board Approved Underwriting Policy.

Does iTerm Prime offer riders?

An optional Bandhan Life AD Rider is available for an additional premium and pays the rider sum assured if death is due to an accident. Check the rider brochure for terms.

Bandhan Life iTerm Prime – Features, Benefits and Eligibility

iTerm Prime Overview

Bandhan Life iTerm Prime is a non-linked, non-participating individual pure-risk life insurance plan designed to provide financial protection to the life assured's family. The nominee receives the applicable death benefit if the life assured dies during the policy term, subject to the policy contract, disclosures and claim assessment. The insurer describes a Special Exit Value option for eligible policies, allowing the policyholder to receive a specified return of premiums at eligible exit points. The option is conditional and should not be treated as an unconditional refund. Premium payment terms and policy duration vary by selected option and eligibility. Optional rider cover may be available for an additional premium. Actual cover, premium, exclusions and available options must be confirmed in the personalised benefit illustration and current policy document.

Special Exit Value and flexible premium-payment options are subject to policy terms.

Expert Review of iTerm Prime

Prime offers flexible term protection and a Special Exit Value option that may appeal to customers whose protection needs can change. The exit benefit is conditional, and the headline premium examples on the insurer's website are based on specific customer profiles, cover amounts, terms and discounts. Compare the complete premium payable and policy conditions rather than relying on an advertised monthly amount. The insurer lists UIN 138N084V03 for the product; check the latest policy wording before purchase.

Pros

Offers term-life protection with a Special Exit Value option for eligible policies.
Premium-payment options vary by selected option and eligibility.
Base sum assured starts at ₹25 lakh with no stated upper limit (subject to underwriting), and cover can run up to age 85 depending on entry age and policy term.

Cons

Special Exit Value is conditional and is not an unconditional premium refund.
Final premium and available cover depend on underwriting and selected terms.
No maturity benefit: if the life assured survives the policy term, nothing is payable and the policy ends.

About Bandhan Life (Insurer Profile)

Bandhan Life

Key Insights

Founded

2008

Bandhan Life was established 18 years ago and has built strong credibility over time, backed by its long-standing presence in the market.

Claims Experience

98.2% CSR, calculated as a 3-year average

Bandhan Life settles 98.2% of all claims it receives, demonstrating strong credibility.

Contact Details

1800 209 9090

Headquarters: A - 201, 2nd Floor, Leela Business Park, Andheri-Kurla Road, Andheri (East), Mumbai - 400059, Maharashtra, India

iTerm Prime Features and Benefits

Death benefit

The nominee may receive the death benefit stated in the policy if the life assured dies during the policy term.

Subject to policy wording, disclosures and claim assessment.

Special Exit Value

Eligible policyholders may receive a specified return of premiums at an eligible exit point.

Availability and amount depend on the selected option and current policy terms.

Cover up to age 85

The current version (UIN 138N084V03) lists a maximum maturity age of 85 years, so cover can run up to age 85 depending on entry age and policy term.

Regular or limited pay

Premiums can be paid for the full policy term or for a limited period, including a pay-till-age-60 option. Entry age is 18 to 65 years (maximum 50 years for limited pay).

High sum assured

Minimum base sum assured is ₹25 lakh with no stated maximum, subject to the Board Approved Underwriting Policy.

Add-ons of iTerm Prime

Bandhan Life AD Rider (accidental death)

Pays a lump sum equal to the rider sum assured, in addition to the base death benefit, if the life assured dies because of an accident. Death must occur within 90 days of the accident. The rider sum assured starts at ₹25,000 and can be at most equal to the base sum assured. Entry age is 18 to 65 years and the rider can run up to age 85.

It can be added at purchase or later during the premium payment term (subject to underwriting) and detached from the next premium due date. Extra premium and rider exclusions apply.

What iTerm Prime Does Not Cover (Exclusions)

Conditions or treatments that the policy clearly says it will not cover.

Death by suicide within 12 months of commencement of risk or revival is subject to the limited benefit stated in the policy wording, not the full sum assured.
Fraud or non-disclosure: the insurer can question a policy on grounds of fraud within 3 years of issuance, commencement of risk or revival (Section 45 of the Insurance Act), so health, lifestyle and income details must be disclosed accurately.
The death benefit is payable only for an in-force policy. If death occurs during the grace period, the outstanding unpaid instalment premium is deducted from the death benefit, and the cover ceases if premiums stay unpaid after the grace period.
AD Rider (if opted): the accidental death benefit is not payable if death is linked to suicide or self-inflicted injury, a criminal or illegal act, or intoxicating liquor, drugs or poison taken without a doctor's prescription.
AD Rider (if opted): not payable for death linked to war, terrorism or military operations, flying other than as a fare-paying passenger, professional sports or adventurous pursuits (racing, mountaineering, scuba diving, skydiving, paragliding), or inhaling gas or fumes outside the course of duty.

Disclaimer: For illustration purposes only - exact terms are in the policy wording.

Insurer

Bandhan Life plans and claim process

iTerm Prime FAQs

What is Bandhan Life iTerm Prime?

It is a non-linked, non-participating individual pure-risk life insurance plan that provides a death benefit during the policy term, subject to policy conditions.

Does iTerm Prime return premiums?

An eligible policy may offer Special Exit Value under specified conditions. It is not an unconditional refund; check the current brochure and policy wording.

How much does iTerm Prime cost?

There is no single premium for every applicant. The quote depends on age, health and lifestyle, sum assured, policy term, payment term, options, discounts and underwriting.

Disclaimer: Premium amounts are indicative and may vary based on age, health, and plan selected. Claim settlement ratios are from IRDAI Annual Reports. Finzony is not an insurance broker or agent. Verify all details on the official Bandhan Life website before purchasing.