Bandhan Life and Bandhan Bank announced a strategic partnership to distribute life insurance. The partnership was kicked off with the launch of two new products: iGuarantee Vishwas, a savings insurance plan with guaranteed returns, and iInvest II, a unit-linked insurance plan. Starting September 2024, these plans will be available at Bandhan Bank branches across West Bengal, including 259 branches across urban and rural areas of Greater Kolkata. Existing customers of Bandhan Bank can get a policy in a matter of a few minutes, subject to fulfilment of the conditions for insurance.

Bandhan Life iGuarantee Vishwas addresses the financial security needs of Emerging India’s customers. With life cover that is 10 times the premiums paid and with guaranteed returns, the product is designed to help policyholders achieve significant life goals, such as funding a child’s education, making a down payment for a house, or planning a dream vacation. The inclusion of guaranteed additions on maturity further enhances its appeal as a comprehensive financial planning tool for middle-income families.

Bandhan Life iInvest II is A ULIP product that offers market-linked returns along with a substantial life cover of up to 20 times the annual premium. With monthly premiums starting from just ₹3,000, customers can tailor their investment strategy to suit their needs; and get the option to access their funds through partial withdrawal after five years. iInvest II, gives customers a selection of top-performing, 5-star and 4-star rated funds* that have outperformed industry benchmarks, so customers can achieve their financial goals with confidence.

Speaking about the launch, Satishwar B., MD and CEO of Bandhan Life, said, “We are delighted with this partnership and to introduce iGuarantee Vishwas and iInvest II through Bandhan Bank’s extensive network. Bandhan Bank’s established reputation and deep connections with its customers make it an ideal partner for broadening access to life insurance.”

Rajinder Kumar Babbar, Executive Director & Chief Business Officer, Bandhan Bank, commented: “In our pursuit to enhance customer experience, we are excited to announce our new bancassurance partnership. This collaboration allows us to offer a comprehensive suite of insurance products alongside our banking services, making it easier for our customers to access vital financial protection.”

Indranil Dutta, Chief Business Officer-Bancassurance at Bandhan Life, remarked, “Bandhan Bank as an institution started operations from West Bengal; on similar lines, we are initiating our Banca journey from the state of West Bengal with plans to soon be present across East. With a thriving economy, India’s life insurance sector is poised for significant growth.”