Secure N Grow FAQ ?

Faqs ID : 46488 19 Jun, 2026 19:10 Aegon Super Admin Secure N Grow FAQ

FAQ Contents

Part 1: Product Overview & Core Mechanics. 1

Part 2: Policy Issuance & Back-Office Operations. 1

Part 3: Premiums, Renewals, & Payment Logic. 1

Part 4: Policy Servicing & Lifecycle Changes. 1

 

Part 1: Product Overview & Core Mechanics

  1. . What is the Combi Secure 'N' Grow product?

A: It is a bundled solution that combines two distinct products into a single package: Bandhan Life i-Guarantee Vishwas (a Non-Participating plan) and Bandhan Life i-Invest II (a Unit Linked Insurance Plan or ULIP).

  1. Are these two separate policies or a single contract?

A: They are two separate legal contracts with independent terms and benefits, packaged and sold together as a bundled product solution.

  1. How does this combo solution work?

A: The customer's premium is split into two distinct layers to balance safety and growth:

  • Capital Protection Layer: Invested in the Non-Par plan to secure guaranteed maturity benefits.
  • Growth Layer: Invested in the ULIP to generate market-linked returns.
  1. Is the capital guaranteed under this solution?

A: Yes. 100% of the total premiums paid across both plans is guaranteed at maturity, provided:

  • All due premiums are paid on time.
  • Both policies remain active and in-force until maturity.
  1. Under what specific conditions does the Capital Guarantee apply?

A: The Capital Guarantee applies strictly if:

  • Both policies remain active.
  • All due premiums are paid across both plans.
  • There is no deviation from the original combo structure.
  1.  What triggers the loss or cessation of the Capital Guarantee?

A: The Capital Guarantee will permanently cease if:

  • The premium payment frequency is changed for either policy.
  • If one of the policy is cancelled(Surrender, Freelook, Null & Void etc)
  • Either policy is discontinued, altered, or lapsed, impacting the core combo structure.

👉 Once the Capital Guarantee benefit is removed, it cannot be reinstated.

 

 

Part 2: Policy Issuance & Back-Office Operations

  1. What will be the Risk Commencement Date (RCD) and issuance date for these policies?

A: Both policies within the Combi Secure 'N' Grow pack will be issued on the exact same day.

If one policy is approved by underwriting while the other is pending a decision, both will be triggered for issuance together only after the final underwriting decision is made on the pending application.

  1. How are policy numbers generated for Combi Secure 'N' Grow?

A: A master Combi number is generated ending in "C", while the two individual product policies end in "A" and "B" respectively.

  • Example: Master Combi No: BLI0QCOMMAC875C
  • Individual Policy Nos: BLI0QCOMMAC875A and BLI0QCOMMAC875B

 

  1. How can operations teams search for Combi policy numbers in the Ops Console?

A: A dedicated, separate search field has been created within the Ops Console specifically to look up Combi products. Single Policy ending with A and B can be searched under Policy No Search



  1.  Where can the Combi Product Flag be checked, and what do the statuses mean?

A: The Combi Product Flag is visible in the Ops Console. The operational statuses are defined as follows:

  • Y-A: Active (Both products in the combo are active and in-force).
  • Y-L: Lapsed (At least one of the two policies has lapsed).
  • Y-T: Terminated (At least one of the two policies has been terminated).

 

  1.  How are policy documents generated and dispatched to the customer?

A: A single, merged policy document covering both products is generated. This merged document is accessible under both individual policy numbers in the Ops Console and I-Assist. Physical dispatch is done using a single policy jacket, though the specific benefits of each individual policy will be detailed separately within the document.

  1.  How do Combi products reflect in the I-Assist platform?

A: They will appear as two separate policy cards within I-Assist. There is no change to the standard layout or process for the team.



  1.  Can customer surrender one policy?

A: Each policy can be surrendered independently and Payout as per respective product rules will be done .👉 Combo benefits (including capital guarantee) may be lost

 

 

 

 

 

 

Part 3: Premiums, Renewals, & Payment Logic

  1.  Will the customer pay a single premium or two separate premiums?

A: The total premium is split across both policies. Internally, the systems treat them as two entirely separate premium.

  1. How are renewal reminders sent to the customer?

A: Separate renewal reminders will be triggered for each individual policy, explicitly stating its policy number and specific due amount for each product

  1.  How do customers make renewal premium payments?

A: Customers must make independent renewal premium payments for each policy using renewal portal and I assist. It is not mandatory for them to pay both premium amounts simultaneously.

  1. Can a customer choose to pay both premiums together?

A: Yes, but payments are processed strictly policy-wise. Even if the customer pays the combined amount in a single interaction, the funds will be split and accounted for separately against each policy. – This is Day2 not yet developed and flow may change

  1.  What happens if a customer pays the premium for only one policy?

A: The policy that receives the premium will continue to run as per its standard terms. The unpaid policy may lapse, become Reduce paid-up, or discontinue as per product rule.

👉 Consequently, the overall Combi built-in benefits (like Capital Guarantee) will be impacted or removed.

  1.  What happens if ULIP is discontinued?

A: Fund moves to Discontinuance Policy Fund during lock-in and Paid after lock-in period completion

  1.  What happens if Non-Par policy lapses?

A: Policy may: Lapse / become paid-up and Guaranteed additions may not apply if paid-up

  1.  Can lapsed / RPU policies be revived?

A: Yes, customers can revive Lapsed / RPU policies Revival conditions differ: Non-Par: up to 5years and ULIP: up to 3 years

  1. Can customers register separate auto debit on each policy?

A: Yes, customers can register separate auto debit on each policy, however a single auto debit is registered at the time of NB if opted

 

Part 4: Policy Servicing & Lifecycle Changes

  1.  Will policy servicing be handled jointly or separately?

A: All policy servicing requests are processed completely independently for each policy from request module in ops console. This includes requests for:

  • Contact details, address, or nominee changes.
  • Surrenders or partial withdrawals.
  • Fund switches (applicable to the ULIP component only).
  • Policy loans (applicable to the Non-Par component only).

 

  1.  Can a customer request a premium payment frequency change?

A: Yes. A customer can submit a frequency change request for either of the individual policies.

👉 However, changing the premium frequency on either plan will immediately cause the Capital Guarantee benefit to cease.(Day2 – not developed)

  1.  How can a customer register a Free-Look Cancellation (FLC) request?

A: The customer must register independent FLC requests for each policy. During intake, explicit confirmation is mandatory from the customer detailing whether they want to cancel the entire Combi bundle or just one specific policy.

  1.  Can a customer cancel only one of the two policies during Free-Look? What are the consequences?

A: Yes, a customer has the right to cancel just one policy.

👉 However, if either policy is cancelled during the Free-Look period, the customer will no longer be eligible for any specialized Combi benefits (such as the Capital Guarantee).