Bandhan Life Insurance

Bandhan Life Insurance Company Limited is a private life insurance company that offers protection, saving, investment, retirement, and group insurance products in India. The company, (formerly known as Aegon Life Insurance) was acquired by Bandhan Financial Holdings Limited in 2024 and later changed its name to Bandhan Life Insurance. Bandhan Life is dedicated to providing simple, technology-enabled life insurance products that ensure individuals and families across India get access to financial protection and long-term value accumulation products. Its products include term assurance, savings products, ULIPs, retirement products, child protection, and group insurance.

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Bandhan Life Insurance: Policy Details, Premium, Benefits & Reviews

Bandhan Life Insurance

Bandhan Life Insurance Company Limited is a private life insurance company that offers protection, saving, investment, retirement, and group insurance products in India. The company, (formerly known as Aegon Life Insurance) was acquired by Bandhan Financial Holdings Limited in 2024 and later changed its name to Bandhan Life Insurance. Bandhan Life is dedicated to providing simple, technology-enabled life insurance products that ensure individuals and families across India get access to financial protection and long-term value accumulation products. Its products include term assurance, savings products, ULIPs, retirement products, child protection, and group insurance.

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Insurer Highlights
  • Claim Settlement Ratio

    99.7

  • No. of Branches

    3 Branches

  • Claim Settlement Promise

    24 Hours

Why Buy Bandhan Life Insurance?

Bandhan Life Insurance offers practical life insurance products that are built around protection, long-term savings, and financial stability. Bandhan Life is a reliable choice because:

High claim settlement ratio of 99.73%
Fully digital buying, servicing, and claims process
Affordable term insurance premiums
Simple policy structure with transparent benefits
Option to choose whole-life coverage in select plans
Express claim settlement for eligible cases
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Bandhan Life Insurance Plans

Bandhan Life Insurance offers a wide range of insurance plans designed to suit different life stages and financial goals.

Critical Illnesses Covered Under Bandhan Life Insurance

Bandhan Life Insurance has a Critical Illness Rider that protects you financially against diseases that could result in death. This optional add-on pays a lump sum when you are diagnosed with a major illness like cancer, a heart attack, a stroke, or kidney failure. You can use the benefit amount to pay for hospital bills and treatment, which lets you focus on getting better without worrying about money.

Bandhan Life Insurance Plan Riders

Bandhan Life term plans allow you to enhance your base policy with optional riders for broader protection. Riders are available at an additional premium and provide coverage against risks such as:

How Much Term Cover Do I Need?

Choosing the right term insurance policy is important for protecting your family's financial future. The Human Life Value (HLV) method is a popular way to figure out how much life insurance you need. It looks at your income, age, debts, and future goals.

Experts generally say that you should have 15 to 20 times your yearly income. For instance, if you're 30 years old, make ₹10 lakh a year, and don't have any life insurance, you might need a term cover of ₹1.5–2 crore. This money can help your family pay for things like groceries, pay off debts, pay for school, and keep living the way they do when you're not around.

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Choosing the Bandhan Life Insurance Plan with the Right Sum Assured Option

Selecting the correct sum assured depends on your financial responsibilities, outstanding liabilities, and long-term family goals. Bandhan Life offers flexible coverage options across its term plans, allowing you to choose between basic protection or extended coverage for complete financial security.

Bandhan Life1 Crore
Term Insurance
Bandhan Life2 Crore
Term Insurance
Bandhan Life5 Crore
Term Insurance
Bandhan Life75 Lac
Term Insurance
Bandhan Life70 Lac
Term Insurance
Bandhan Lifee50 Lac
Term Insurance

Term Insurance Premium Calculator

Our term life insurance calculator in india can help you calculate the following:

Benefits of Bandhan Life Insurance Plans

  • Financial Protection
    Bandhan Life insurance plans helps you protect your family financially in the event of your unfortunate demise.

  • Convenient Online Purchase
    Purchasing an insurance policy online is simple, and in addition to that, it is also cost-effective, avoiding intermediary charges.

  • Wealth Creation Opportunities
    Through its savings plan as well as the ULIP plan, Bandhan Life provides people with the opportunity to save their money for the future. At the same time, people also get the opportunity to acquire a life insurance policy.

  • Wide Range of Plans
    Bandhan Life has a variety of life insurance plans for different stages of life, including term policies, ULIPs, saving plans, retirement plans, child plans, and group policies.

  • Affordable Premiums 
    Bandhan Life offers competitive pricing on its term insurance plans, making it possible for all segments of society, regardless of income level, to enjoy life insurance.

one crore term plan
plus

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 13/day+

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day+

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day+

Bandhan Life Insurance Plans

Bandhan Life Insurance offers a wide range of insurance plans designed to suit different life stages and financial goals.

Bandhan Life Term Plans:

Bandhan Life term insurance plans provide high life cover at affordable premiums. These plans pay a death benefit if the policyholder passes away during the policy term. Below are the term plans offered by Bandhan Life:

Plan Name Entry Age Maturity Age Sum Assured
iTerm Prime 18–65 yrs Up to 85 yrs ₹25 L – ₹20 Cr
iTerm Comfort 18–65 yrs Up to 75 yrs ₹50 L onwards
iTerm ROP 18–60 yrs 65–75 yrs ₹25 L onwards
Saral Jeevan Bima 18–65 yrs 70 yrs ₹5 L – ₹25 L
Akhil Bharat Term 18–50 yrs 65 yrs Fixed slabs

Bandhan Life Savings Plans

Bandhan Life savings plans combine life cover with guaranteed or regular income benefits.Below are some of the Savings Plan offered by Bandhan Life:

Plan Name Entry Age Maturity Age Policy Term
iGuarantee Max Savings 30 days–60 yrs 85 yrs 10–25 yrs
Guaranteed Income Plan 30 days–65 yrs 99 yrs 15–40 yrs
Shubh Samriddhi 30 days–60 yrs 75 yrs 10–30 yrs

Bandhan Life ULIP Plans

ULIPs from Bandhan Life allow investment in market-linked funds along with life insurance coverage. Below are the ULIP plans offered by Bandhan Life:

Plan Name Entry Age Maturity Age Policy Term
iInvest Advantage 30 days–65 yrs 75 yrs 10–30 yrs
iInvest Ultima 0–65 yrs 75 yrs 10–20 yrs
ULIP Plus 18–60 yrs 75 yrs 10–30 yrs

Bandhan Life Retirement Plans

Bandhan Life offers pension and annuity plans to ensure steady income after retirement. Below are Retirement Plans offered by Bandhan Life:

Plan Name Entry Age Policy Term PPT
iRetire 18–65 yrs 10–35 yrs 5–15 yrs
Insta Pension Plan 18–80 yrs Whole life Single pay
Saral Pension 40–80 yrs Whole life Single pay

Bandhan Life Child Plans

Child insurance plans help secure a child’s education and future milestones even if the parent is not around.

Plan Name Entry Age Maturity Age Policy Term
Child Advantage Plan 18–60 yrs 75 yrs 10–25 yrs

one crore term plan

Secure Your Family Future Today

₹1 CRORE

Term Plan Starting @

Get an online discount of upto 15%#

Compare 40+ plans from 15 Insurers

+Standard T&C Applied

How to Buy Bandhan Life Insurance Online from Policybazaar in 2026?

It's easy to buy a Bandhan Life Insurance policy through Policybazaar, and if you have all the information you need, you can do it in a few minutes.

Step 1: Open the Policybazaar Life Insurance

Step 2: Click on Bandhan Life Insurance from the list of insurers to see what plans they have.

Step 3: Choose the type of plan that best meets your needs, such as a ULIP for investment-linked cover, a savings plan, or a retirement plan.

Step 4: Give your personal and income information.

Step 5: Check the premiums, coverage, and features of the plans you have chosen. Once chosen, pay your premiums online.

What Documents are Required to Buy Bandhan Life Insurance?

  • Identity proof: Aadhaar, PAN, Passport, Voter ID

  • Address proof

  • Income proof: ITR, salary slips, bank statements

  • KYC documents (for individuals and entities)

Bandhan Life Insurance Claim Process

Bandhan Life follows a simple, step-by-step claim process so nominees can focus on what matters while the insurer handles the rest.

Step 1: Inform Bandhan Life About the Claim

Inform Bandhan Life Insurance that a claim needs to be raised. You can file the claim by going to the official website, going to any of the Bandhan Life Service Centers in person, or sending an email to the claims department. You can also send the form and all the papers to the company's registered office in Mumbai if you need to.

Step 2: Submit the Required Documents

Once intimation of claim is made, the documents have to be presented by the nominee or claimant. Although the documents vary based on the claim filed, there are some that are common in most cases.

This includes the original policy document, a claim form, a death certificate, identification and verification documents of the nominee, as well as bank account details for payment. Other documents that might be needed, depending on the claim, are medical documents or reports in the case of illness or accident.

Step 3: Claim Review and Settlement

Bandhan Life Insurance will check your documents In this case, the company might call the customer if they need to clear up any information. But if everything is clear after all the documents are received, the claim will be approved and the money will be put into the nominee's bank account.

In most cases, the process will be finished within 15 days of getting every document.

Life Insurer Details

How to Contact Bandhan Life Insurance Company?

Have questions or need help with your policy? Bandhan Life offers multiple ways to get in touch, so support is always within reach.

WhatsApp Support

Prefer chatting? You can connect with Bandhan Life on WhatsApp.
Click the option to say “Hi” and get quick assistance.

Call Support

Talk to a customer service agent directly.

Call 1800-209-9090.

Hours of operation are Monday through Saturday from 9:00 AM to 7:00 PM (IST).

Email Support

You can email customer.care@bandhanlife.com for more information or help with documents.

Go to a Service Center

You can go to a Bandhan Life service center near you if you would rather get help in person.Find the nearest branch by using the service center locator.

iAssist

With iAssist, it's easy to manage your policy. It is meant to make managing policies easier and more convenient, from servicing policies to making simple requests.

FAQs

  • Q. What happens if I outlive my Bandhan Life term insurance policy?

    Ans: If you live longer than the term of your Bandhan term insurance plan, the policy ends without a payout. Depending on the plan you choose, some plan variants may give return your premiums.
  • Q. Is a medical test required to buy a Bandhan Life policy?

    Ans: Medical tests vary depending on factors like age, medical details, and the amount paid. Some insurance plans may demand this, while others may not.
  • Q. How can I check/know the status of my claim?

    Ans: For any claim-related queries or to track the status of your submitted claim, you can mail the company at: claims@bandhanlife.com, or
    Call at 1800 209 9090
    You can also visit the official website to track your Claim

˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

Rs. 400/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 400/month (Rs.13/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 230 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 12/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 497/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 487/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 626/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 905/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. ₹361/month is the starting price for a ₹1 crore loan cover with an 8% interest rate for an 18-year-old male, non-smoker, with no pre-existing diseases, loan tenure up to 20 years, rounded off to the nearest 10

+Rs. 1,267/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.

+Rs. 447/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs.679/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 910/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,924month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

Women

+Rs. 400/month is Starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.

1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 years of age.

Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881

For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale

Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.

© Copyright 2008-2026 policybazaar.com. All Rights Reserved

˜ Policybazaar Promise reflects the guarantee offered by insurers. Price assurance is based on certifications shared by insurers with us.

Types of term plans

Policybazaar offers the following types of term insurance plans to fit the different needs of Individuals from all walks of life.

Choose Term Insurance Plan as per you need

Plans starting from @ ₹473/Month*
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1 Crore Term Insurance
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Bandhan Life Insurance Reviews & Ratings

4.4 / 5 (Based on 58 Reviews)
(Showing Newest 10 reviews)
Angad
Agra, April 09, 2021
Hassle free services
I like the policybazaar as they suggested me the Bandhan Life insurance policy and wonderful services. By sitting at home I got great services and got my life insurance soft copy in few minutes of purchase.
Vishal
Machavaram, April 08, 2021
Great options
I have recently bought a Bandhan Life insurance plan from the website of the policybazaar. I really like the services which has been provided by the policybazaar. The whole team is good and quite helpful in nature. Thanks team.
Pallav
Paliganj, March 31, 2021
Protective coverage
The Bandhan Life insurance plan has been a protective coverage for me and my family. I find a good feature plan under it and it has been a great plan for me and my family. Thanks team.
Niranjan
Kollidam, March 30, 2021
Customer care team
The customer care team of policybazaar is very good and understanding in nature. I bought the Bandhan Life insurance policy from them and have been the best thing ever. Thanks a lot team.
Amal
Medchal, March 26, 2021
Customer care team
The customer care team of policybazaar is very good and understanding in nature. I bought the Bandhan Life insurance policy from them and have been the best thing ever. Thanks a lot team.
Kajal
Mahabubnagar, March 25, 2021
Easy to renew
I like the Bandhan Life insurance policy which I have bought from the policybazaar. I renew it every year with the help of mobile application of policybazaar. Thanks a lot policybazaar and Bandhan.
Divyansh
R.k.nagar, March 24, 2021
Compare and buy
I compared a lot many plans when I bought the life insurance plan from policybazaar. I checked few plans and sort myself to buy Bandhan Life insurance plan. It is easy to compare and easy to buy a best life insurance policy.
Manish
Badlapur, March 23, 2021
Online purchase of policy
I purchase the life insurance plan online. It is yet useful plan and I have recommended many of friends to get this plan online. It is a suitable plan for me and my family.
Amit
Kukarvada, March 22, 2021
Tax benefits
I have got the tax benefits when I bought the life insurance plan from the policybazaar. It was the plan of Bandhan and has been wonderful to me. I like the plan a lot and also got the tax benefits under the same. Thanks team.
Sushil
Kosi Kalan, March 17, 2021
Secure my family
I have secured my family as I bought a life insurance plan from the policybazaar and that is of Bandhan Life insurance. I like work and services provided by them. Thanks team.
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