Bandhan Life Term Insurance Plans

Bandhan Life Insurance Company Limited (formerly Bandhan Religare Life Insurance Company Limited) launched its operations in India in July 2008. It is one of the leading providers of financial services and offers comprehensive term insurance plans to its customers. Bandhan Life has a CSR (claim settlement ratio) of 99.37% in the financial year 2022-23, and is known for settling claims quickly and very efficiently. Let’s understand more about the Bandhan Life Term Insurance Plans, the key features, riders, etc. to meet people’s specific needs and life goals.

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Bandhan Life Term Plans - Term Insurance Plans

Bandhan Life Term Insurance Plans

Bandhan Life Insurance Company Limited (formerly Bandhan Religare Life Insurance Company Limited) launched its operations in India in July 2008. It is one of the leading providers of financial services and offers comprehensive term insurance plans to its customers. Bandhan Life has a CSR (claim settlement ratio) of 99.37% in the financial year 2022-23, and is known for settling claims quickly and very efficiently. Let’s understand more about the Bandhan Life Term Insurance Plans, the key features, riders, etc. to meet people’s specific needs and life goals.

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Insurer Highlights
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  • No. of Branches

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  • Claim Settlement Promise

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Why Should You Buy Bandhan Life Term Insurance Plan?

Bandhan Life Insurance provides a range of term insurance plans that are designed to provide financial security to your loved ones in case of your untimely demise. The payout from the term insurance plans can help your family maintain their lifestyle, cover essential expenses, and even achieve long-term financial goals like education and retirement. Let’s understand the reasons why buying Bandhan Life Term Insurance Plans can be beneficial for you.

A very affordable Term plan with 24 hr claims settlement process
Cover upto 50 Lacs for housewives avaliable
Uqiue benefit for smokers availabe- It pays to quit smoking
Medical tests done at home
36 Critcal illness covered upto age 80
Covers death due to any pandemic such as COVID-19
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Bandhan Life Term Plans

Bandhan Life Insurance offers various term insurance plans that are designed to suit the multiple needs of customers. Let us take a brief look at all the Bandhan term plans available in India:

Critical Illnesses Covered Under Bandhan Term Insurance

The Bandhan term critical illness rider offers comprehensive coverage against 36 life-threatening illnesses/diseases. The payout received from this rider is received in the form of lump sum benefit or waiver of premium and can help you pay off any treatment costs and hospital bills that may arise due to the diagnosis of the illness. Here is a list of all the critical illnesses covered under Bandhan term plans.

What Riders Are Available In Bandhan Life Term Plan?

Bandhan term plans offer many important term insurance riders that you can include with your base term insurance plan to enhance the coverage. These riders can be added at an additional cost that is payable along with the base premiums to receive comprehensive coverage against the uncertainties of life. Here are all the riders you can buy with Bandhan term insurance plans:

Following is a list of riders that includes different riders offered by Bandhan Life Insurance:

How Much Term Cover Do I Need?

To calculate the right life cover/sum assured that will cover the financial needs of your family in your absence, you should use a Human Life Value Calculator.  

The HLV calculator estimates the life cover amount that you are eligible to buy depending on your annual income, age and life situations. As per insurance experts, the right life cover for your term insurance plan should be at least 15 to 20 times your annual income at the time of the policy purchase.

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Choose the Right Sum Assured Option

It is important to choose your ideal sum assured for the term plan you wish to buy so that it ensures your family’s financial security in your absence. Here are some of the sum assured options you can choose to secure your loved ones.

HDFC Life1 Crore
Term Insurance
HDFC Life2 Crore
Term Insurance
HDFC Life5 Crore
Term Insurance
HDFC Life75 Lac
Term Insurance
HDFC Life70 Lac
Term Insurance
HDFC Life50 Lac
Term Insurance

Term Insurance Premium Calculator

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

Features Of Bandhan Term Insurance Plans

Here are the key features of Bandhan Term Plans:

  • Life insurance with lump sum payout on death

  • Affordable coverage throughout earning years

  • Special Exit Value for premium refund if coverage is no longer needed

  • Flexible premium payment frequency

  • Tax benefits on premiums and benefits

  • Option to include riders for Accidental Death and Critical Illness available

*Note: You can very easily use the term insurance calculator and calculate your term insurance premium amount.

Life Insurer Details

Benefits Of Bandhan Term Insurance Plans

Here are the benefits of Bandhan Term Insurance Plans:

  • Financial Security for Your Loved Ones:Term plans offered by Bandhan Life Insurance are designed to provide financial security and peace of mind to your loved ones in case of your untimely demise. The payout from the term insurance plans can help your family maintain their lifestyle, cover essential expenses, and even achieve long-term financial goals like education and retirement.

  • Comprehensive Coverage Options: Bandhan Life Insurance offers a wide range of term plans to suit various life stages and needs. Their diverse portfolio ensures you can find a plan that aligns perfectly with your financial goals and requirements.

  • Guaranteed Returns: Bandhan Life Insurance, particularly Savings and retirement plans, ensure you receive guaranteed returns when your plan matures. As you pay your premiums over time, your savings grow. Upon maturity, you can choose to receive this accumulated amount either as a one-time lump sum or as a regular income.

  • Affordable Premiums: Bandhan Life Term Plans offers high life cover at very affordable premiums, so that you can financially secure your loved ones without any hassle.

  • Tax Benefits: Opting for Bandhan Life Term Plans can also provide you with tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961. This means you can not only secure your financial future but also enjoy tax advantages while doing so, making Bandhan a smart choice for your insurance needs.

Who Should Buy Bandhan Term Insurance Plans?

  • Young Individuals

  • Working Women

  • Newly Wedded

  • Retired People

  • Parents with young kids

  • Taxpayers

What Are The Exclusions In Bandhan Life Term Plans?

Here are the exclusions in the Bandhan Life Term Plans:

Suicide: If the life assured/policyholder commits suicide within a year of buying the term life insurance policy, the beneficiaries/nominees will not be able to claim the Bandhan Life Term Plan death benefit.

How To Buy Bandhan Term Plans Online in 2024?

Here is how you can buy term plan from Bandhan Life Insurance online very quickly and efficiently:

  • Step 1: Go to the term insurance form

  • Step 2: Enter your name, gender, date of birth, and contact information

  • Step 3: Click on ‘View Plans’ and fill in your smoking habits, occupation type, annual income, and educational background

  • Step 4: Select the most suitable Bandhan term insurance and proceed to pay

*Note: It is advised to firstly know what is term insurance and then buy HDFC Life Term Plans.

Documents Required To Buy Bandhan Life Term Insurance Plan

  • Identity and Residence Proof: Passport, Voter ID, Adhaar Card, Driving License

  • KYC Documents: Insurance Contracts with companies, trusts and foundations, and HUFs

  • Income Proof: Salary slip of last 3 months, ITR, 6 months bank statements, CA certificate of the last 3 years

Note: Check all the best term insurance plan in India.

Note: You should also check the benefits of term life insurance if you are planning to purchase the term insurance plan.

˜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. 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 2008-2025 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*
Term Insurance
1 Crore Term Insurance
Term Insurance
2 Crore Term Insurance
Term Insurance
4 Crore Term Insurance
Term Insurance
5 Crore Term Insurance
Term Insurance
6 Crore Term Insurance
Term Insurance
7 Crore Term Insurance
Term Insurance
7.5 Crore Term Insurance
Term Insurance
8 Crore Term Insurance
Term Insurance
9 Crore Term Insurance
Term Insurance
15 Crore Term Insurance
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20 Crore Term Insurance
Term Insurance
25 Crore Term Insurance
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30 Crore Term Insurance
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15 Lakh Term Insurance
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60 Lakh Term Insurance
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Bandhan Life Term Insurance Plans Reviews & Ratings

4.3 / 5 (Based on 41 Reviews)
(Showing Newest 10 reviews)
Prabhjot
Hyderabad, September 23, 2016
Bandhan Insurance Policy
After long search, finally got the policy of my choice through Bandhan Life insurance company ltd. Premium is less and the coverage is pretty much high as compare to investment. Claiming process is easy as it done without paperwork through online services.
Vikram
Kadipur, August 04, 2016
Term plan
The term insurance policy i buy from Bandhan Life insurance is fantastic and it has very good terms and conditions. The policy plan has less premiums and the claims are easy to get by clicking few buttons using website of the company which is very simple to operate. The online renewals is also possible.
Prashant
Pune, April 25, 2016
Best Plan
I like, This term plan it is much better plan in market
Nikhil
Bengaluru, February 14, 2016
Good plan.
You are providing very good service to the customers regarding anything about the insurance. Even the response is within a day or two for any request made by the customer. I do have the term plan for around 29 lakhs. You collect the cheapest premium amount compared with any other Insurer. Good policy.
Plan Name: iTerm
Agent Code: BPW01901
SUSHMA
Chandigarh, February 14, 2016
Good.
You are good in the service provided regarding the Life Insurance. You aren't prompt in the service. Policy coverage and claims are high and premium is less. I have Term plan with you religare insurance.
Plan Name: iTerm
Agent Code: BBE05845
Amit
Ghaziabad, February 14, 2016
"Average Basic Plan"
Bandhan religare insurance is providing me a policy which is an average plan. Low inputs with less outcomes. Claims is ~Rs.17 lakh, Policy coverage low. Service is fine but not much like it can be. Improve your policy services and terms. Thank you.
Plan Name: iTerm
Agent Code: BPW00130
Abhinav
Faridabad, February 14, 2016
good policy plan
Policy i have is from religare that provide me very good terms i.e., high coverage with low premiums. Claims are around Rs.22.7 lakh. Service is okay with home assistance. Nice work
Plan Name: iTerm
Agent Code: BPW01888
Utpal
Vadodara, February 14, 2016
Less coverage
My life policy has less coverage. Claim is good around 19 lakh and the service is also nice. Bandhan religare you really need to improve your policy coverage. Other insurer provides good service, so please do something.
Plan Name: iTerm
Agent Code: BBE05865
Aditya
Gurgaon, February 14, 2016
Nice Policy
I have great policy with really good service. Investment is Rs.2500 and return is Rs.28 lakh. Service is fast without any long waiting in queue. Just improve your website and mail daily updates.
Plan Name: iTerm
Agent Code: BBE05845
Swati
Mumbai, February 14, 2016
Perfect plan...
I have policy plan with Bandhan religare. Policy have low investments and high returns. Claims are around 22 lakh and the policy coverage is 92%. Service is on time with good behaviour.
Plan Name: iTerm
Agent Code: BPW01888
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