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Is the Bandhan Life iGuarantee Vishwas Plan really a truly “guaranteed” savings solution — or just a conservative life-insurance policy wrapped in promise?
Is Bandhan Life iGuarantee Vishwas Plan a true long-term savings partner — or just a low-risk shelter that may under-deliver compared to market-linked instruments?
Is the Bandhan Life iGuarantee Vishwas Plan better than low-risk debt investments — or is the “guaranteed” tag misleading compared to real market returns?
This review breaks down the plan in simple terms—exploring its features, benefits, and limitations—to help you clearly understand how it works and whether it fits your financial goals.
Table of Contents:
What is the Bandhan Life iGuarantee Vishwas?
What are the features of the Bandhan Life iGuarantee Vishwas?
Who is eligible for the Bandhan Life iGuarantee Vishwas?
What are the benefits of the Bandhan Life iGuarantee Vishwas?
Grace Period, Discontinuance and Revival of the Bandhan Life iGuarantee Vishwas?
Free Look Period for the Bandhan Life iGuarantee Vishwas
Surrendering the Bandhan Life iGuarantee Vishwas
What are the advantages of the Bandhan Life iGuarantee Vishwas?
What are the disadvantages of the Bandhan Life iGuarantee Vishwas?
Research Methodology of Bandhan Life iGuarantee Vishwas
Benefit Illustration – IRR Analysis of Bandhan Life iGuarantee Vishwas
Bandhan Life iGuarantee Vishwas Vs. Other Investments
Bandhan Life iGuarantee Vishwas Vs. Pure-term + PPF/Equity Mutual Fund
Final Verdict on Bandhan Life iGuarantee Vishwas
What is the Bandhan Life iGuarantee Vishwas?
Bandhan Life iGuarantee Vishwas is a Non-Linked Non-Participating Life Insurance Individual Savings Plan. It is an insurance plan that not only provides financial security to your loved ones but also supports you in realising your goals by paying a guaranteed benefit.
The Bandhan Life iGuarantee Vishwas Plan pays you a guaranteed maturity benefit, which includes a guaranteed addition.
What are the features of the Bandhan Life iGuarantee Vishwas?
- Flexible premium payment options to suit your convenience.
- Lump-sum death benefit payout to support your family’s financial well-being.
- Guaranteed maturity benefit to help you achieve your long-term goals.
Who is eligible for the Bandhan Life iGuarantee Vishwas?
| Minimum | Maximum | |
| Entry Age | 90 days | 55 years |
| Maturity Age | 18 years | 65 years |
| Policy Term & Premium Payment Term | Policy Term (years) | Premium Payment Term (years) |
| 10 | 7 | |
| 15 | 5/7/8/10/12 | |
| 20 | ||
| Premium | For Monthly Mode ₹ 1,500 For Quarterly Mode ₹ 4,500 For Half-Yearly Mode ₹ 9,000 For Annual Mode ₹ 18,000 |
As per the maximum Sum Assured on Death |
| Sum Assured on Death | ₹ 1,80,000 | ₹ 25,00,000 |
| Premium Payment Mode | Yearly, Half-yearly, Quarterly and Monthly | |
What are the benefits of the Bandhan Life iGuarantee Vishwas?
1. Maturity Benefit
On surviving till policy maturity, and if all due premiums are paid, the maturity benefit will be paid to you in a lump sum.
Where, Maturity Benefit = Base Sum Assured + Guaranteed Addition
Guaranteed Addition = Guaranteed Addition Rate * Annualised Premium
2. Death Benefit
In case of the unfortunate death of the Life Assured before the date of maturity, the death benefit is paid to the nominee. The death benefit is the higher of Sum Assured on Death and Surrender Value as on the date of death.
The Sum Assured on Death will be the highest of:
- 10 times of Annualised Premium, or
- 105% of Total Premiums Paid till the date of death.
3. Guaranteed Addition (GA)
On maturity, if all due premiums have been paid, a guaranteed addition will be paid to you along with the base sum assured, as the maturity benefit.
Guaranteed addition is a multiple of the annualised premium, and it will be dependent on Life Assured’s gender, age at entry, the premium amount, policy term, and premium payment term opted at inception of the Policy
Grace Period, Discontinuance and Revival of the Bandhan Life iGuarantee Vishwas?
Grace Period
A grace period of 15 days for policies under monthly premium payment frequency and 30 days for policies under all other payment frequencies, from the premium due date, to pay the premium.
Discontinuance
If you have not paid the first-year premiums in full, your Bandhan Life iGuarantee Vishwas Plan policy will automatically lapse at the expiry of the grace period, and no benefit will be payable under the policy.
If you have paid at least the first-year premiums in full and subsequent premiums have not been paid, your policy shall not lapse but will be automatically converted to a paid-up policy, and the maturity benefit and death benefit under the Bandhan Life iGuarantee Vishwas Plan policy will automatically be reduced.
Revival
You can apply for revival of the lapsed or Paid-up Policy within five consecutive complete years from the Due Date of the first unpaid Policy Premium (“Revival Period”) and before the expiry of the Bandhan Life iGuarantee Vishwas Plan Policy Term.
Free Look Period for the Bandhan Life iGuarantee Vishwas
If you are not satisfied with any of the Terms and Conditions of the Bandhan Life iGuarantee Vishwas Plan Policy, or otherwise and have not made any claim, you may request the company for cancellation of the policy within 30 days (Thirty Days) from the date of receipt of the policy, whether received electronically or otherwise.
Surrendering the Bandhan Life iGuarantee Vishwas
Surrender value shall become payable after completion of the first policy year, provided one full year’s premium has been received.
On surrender, the Company shall pay the higher of Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV). Special Surrender Value (SSV) factors will be decided by the Company from time to time.
What are the advantages of the Bandhan Life iGuarantee Vishwas?
- You can avail a loan of up to 80% of the policy’s surrender value.
- Tax benefits may be available as per the prevailing tax laws.
- All benefits offered under the plan are guaranteed.
What are the disadvantages of the Bandhan Life iGuarantee Vishwas?
- The sum assured is insufficient to provide meaningful financial protection.
- Despite offering guaranteed benefits, the overall returns are below expectations.
- The policy term and premium payment term lack flexibility, making it less investor-friendly.
Research Methodology of Bandhan Life iGuarantee Vishwas
We’ve discussed the plan’s features and benefits, but its true suitability can only be judged by how it performs. Although the plan provides a guaranteed maturity benefit, evaluating the actual returns is crucial.
Calculating the Internal Rate of Return (IRR) helps assess its performance and compare it with other investment options. Let’s analyse it using the figures provided in the policy brochure.
Benefit Illustration – IRR Analysis of Bandhan Life iGuarantee Vishwas
A 35-year-old male buys the Bandhan Life iGuarantee Vishwas Plan with a base sum assured of ₹5 lakhs (death benefit – ₹5.25 Lakhs). The policy term is 20 years, the premium payment term is 10 years, and the annual premium is ₹50,000.
| Male | 35years |
| Sum Assured | ₹ 5,25,000 |
| Policy Term | 20 years |
| Premium Paying Term | 10 years |
| Annualised Premium | ₹ 50,000 |
At maturity, the benefit received is ₹11.40 lakhs, assuming all premiums are paid. Based on this cash flow, the IRR works out to 5.38% as per the Bandhan Life iGuarantee Vishwas Plan maturity calculator—lower than what most debt instruments, such as a bank Fixed Deposit, typically offer.
| Age | Year | Annualised premium / Maturity benefit | Death benefit |
| 35 | 1 | -50,000 | 5,25,000 |
| 36 | 2 | -50,000 | 5,25,000 |
| 37 | 3 | -50,000 | 5,25,000 |
| 38 | 4 | -50,000 | 5,25,000 |
| 39 | 5 | -50,000 | 5,25,000 |
| 40 | 6 | -50,000 | 5,25,000 |
| 41 | 7 | -50,000 | 5,25,000 |
| 42 | 8 | -50,000 | 5,25,000 |
| 43 | 9 | -50,000 | 5,25,000 |
| 44 | 10 | -50,000 | 5,25,000 |
| 45 | 11 | 0 | 5,25,000 |
| 46 | 12 | 0 | 5,25,000 |
| 47 | 13 | 0 | 5,25,000 |
| 48 | 14 | 0 | 5,25,000 |
| 49 | 15 | 0 | 5,25,000 |
| 50 | 16 | 0 | 5,25,000 |
| 51 | 17 | 0 | 5,25,000 |
| 52 | 18 | 0 | 5,25,000 |
| 53 | 19 | 0 | 5,25,000 |
| 54 | 20 | 0 | 5,25,000 |
| 55 | 11,40,000 | ||
| IRR | 5.38% |
For a long-term 20-year commitment, these returns are not compelling. Additionally, the sum assured is far too low to provide adequate financial protection for a family during unforeseen events.
Despite offering guaranteed benefits, the combination of low returns and an insufficient sum assured makes the Bandhan Life iGuarantee Vishwas Plan an unsuitable option for both life insurance and long-term savings.
Bandhan Life iGuarantee Vishwas Vs. Other Investments
Instead of investing ₹50,000 annually in the Bandhan Life iGuarantee Vishwas Plan, let’s consider an alternative strategy and compare the potential outcomes.
In this approach, the insurance and investment components are kept separate—unlike traditional bundled life insurance plans. This helps us assess whether a split strategy can deliver better returns and flexibility.
Bandhan Life iGuarantee Vishwas Vs. Pure-term + PPF/Equity Mutual Fund
For life cover, we choose a pure-term insurance policy with a sum assured of ₹5.5 lakhs, costing ₹5,100 per year for a 20-year term (premium payment for 10 years). This leaves ₹44,900 each year for investment.
| Pure Term Life Insurance Policy | |
| Sum Assured | ₹ 5,50,000 |
| Policy Term | 20 years |
| Premium Paying Term | 10 years |
| Annualised Premium | ₹ 5,100 |
| Investment | ₹ 44,900 |
Depending on your risk appetite, this amount can be invested in debt or equity options. In this example, we consider two scenarios for each asset class. Invest the remaining amount either in a PPF account (debt) or in an Equity Mutual Fund (equity).
| Term Insurance + PPF | Term insurance + Equity Mutual Fund | ||||
| Age | Year | Term Insurance premium + PPF | Death benefit | Term Insurance premium + Equity Mutual Fund | Death benefit |
| 35 | 1 | -50,000 | 5,50,000 | -50,000 | 5,50,000 |
| 36 | 2 | -50,000 | 5,50,000 | -50,000 | 5,50,000 |
| 37 | 3 | -50,000 | 5,50,000 | -50,000 | 5,50,000 |
| 38 | 4 | -50,000 | 5,50,000 | -50,000 | 5,50,000 |
| 39 | 5 | -50,000 | 5,50,000 | -50,000 | 5,50,000 |
| 40 | 6 | -50,000 | 5,50,000 | -50,000 | 5,50,000 |
| 41 | 7 | -50,000 | 5,50,000 | -50,000 | 5,50,000 |
| 42 | 8 | -50,000 | 5,50,000 | -50,000 | 5,50,000 |
| 43 | 9 | -50,000 | 5,50,000 | -50,000 | 5,50,000 |
| 44 | 10 | -47,500 | 5,50,000 | -50,000 | 5,50,000 |
| 45 | 11 | -500 | 5,50,000 | 0 | 5,50,000 |
| 46 | 12 | -500 | 5,50,000 | 0 | 5,50,000 |
| 47 | 13 | -500 | 5,50,000 | 0 | 5,50,000 |
| 48 | 14 | -500 | 5,50,000 | 0 | 5,50,000 |
| 49 | 15 | -500 | 5,50,000 | 0 | 5,50,000 |
| 50 | 16 | 0 | 5,50,000 | 0 | 5,50,000 |
| 51 | 17 | 0 | 5,50,000 | 0 | 5,50,000 |
| 52 | 18 | 0 | 5,50,000 | 0 | 5,50,000 |
| 53 | 19 | 0 | 5,50,000 | 0 | 5,50,000 |
| 54 | 20 | 0 | 5,50,000 | 0 | 5,50,000 |
| 55 | 13,24,529 | 24,70,022 | |||
| IRR | 6.38% | 10.56% | |||
To comply with the PPF’s minimum 15-year contribution rule, contributions are adjusted in the final year. The PPF grows to ₹13.24 lakhs, delivering an IRR of 6.38%.
After redemption and applying capital gains tax, the mutual fund investment yields a pre-tax value of ₹27.40 lakhs and a post-tax value of ₹24.70 lakhs. The combined post-tax IRR for the Term Insurance + Equity Mutual Fund strategy is 10.56%.
| Equity Mutual Fund Tax Calculation | |
| Maturity value after 20 years | 27,40,882 |
| Purchase price | 4,49,000 |
| Long-Term Capital Gains | 22,91,882 |
| Exemption limit | 1,25,000 |
| Taxable LTCG | 21,66,882 |
| Tax paid on LTCG | 2,70,860 |
| Maturity value after tax | 24,70,022 |
This split approach not only delivers a significantly higher total value than the Bandhan Life iGuarantee Vishwas Plan but also offers greater liquidity—you can redeem your investment whenever needed.
Importantly, the returns comfortably beat inflation, which is crucial for long-term wealth creation.
From this comparison, it’s evident that the Bandhan Life iGuarantee Vishwas Plan falls short on life cover, returns, and flexibility, making it a less effective choice overall.
Final Verdict on Bandhan Life iGuarantee Vishwas
The Bandhan Life iGuarantee Vishwas is a traditional life insurance plan that combines life cover with a savings component and promises guaranteed benefits. However, the IRR analysis clearly shows that the returns are not attractive for long-term investors.
These low returns can weaken your investment strategy and may leave you with an inadequate corpus to meet future financial goals and it also has a high agent commission.
Moreover, the life cover offered under this plan is insufficient to provide meaningful protection for your family. This makes the Bandhan Life iGuarantee Vishwas Plan ineffective on both fronts—insurance and investment.
Instead of committing to a subpar product, it is wiser to channel your savings into more rewarding alternatives. Selecting the right products is the key step that secures your financial future.
A diversified investment portfolio is essential for achieving long-term goals with confidence.
A pure-term life insurance policy can significantly reduce your premium outflow, allowing you to invest a larger portion towards wealth creation.
Do Quora, Facebook, and Twitter have the final say when it comes to financial advice?
If you need personalised guidance, consider consulting a Certified Financial Planner who can design a strategy aligned with your risk appetite, time horizon, and life goals.
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