Bandhan Life Insurance Review

I didn’t want a flashy insurance plan. I wanted something that would simply work if my family ever needed it. After comparing a few insurers, I chose a Bandhan Life term plan. The premiums were manageable, the policy wording was clear, and I didn't feel lost during the purchase. That mattered to me. – Rohan

51 Partners Insurance Partners

12.02 Crore Registered Consumer

5.9 Crore Policies Sold

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₹1 Crore Life cover starting from ⁺

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About Bandhan Life Insurance

Bandhan Life Insurance (previously known as Aegon Life Insurance), was acquired by Bandhan Financial Holdings in 2024. After the acquisition, it was rebranded as Bandhan Life Insurance. The company's focus is fairly clear: keep products simple, rely on digital systems, and avoid unnecessary layers. Instead of trying to do too much in one policy, Bandhan Life sticks to core life insurance needs such as protection, savings, and long-term planning.

For people like Rohan, this approach works. He wasn't looking for complicated investment features. He wanted clarity, low premiums, and the reassurance that his family would receive financial support if something went wrong.

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⁺

What Bandhan Life Insurance Does Well?

Clear product offering
Bandhan Life offers term plans, savings policies, ULIPs, retirement solutions, child plans, and group insurance. The lineup is broad, but not confusing.
Digital convenience
Most things can be done online, from buying a policy to paying premiums and checking service requests. This is useful for people who don’t want repeated branch visits.
Flexible term coverage
Some term plans allow longer coverage periods, including whole-life options. This helps people who want protection beyond traditional retirement age.
Reasonable pricing
Premiums for term insurance are competitive. For many buyers, this is one of the strongest reasons to consider Bandhan Life.

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₹1 CRORE

Term Plan Starting @

Get an online discount of upto 15%^#

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Advantages of the Bandhan Life Insurance?

Strong claim settlement track record
Bandhan Life says that 99.73% of claims are settled. If you have a high claim settlement ratio, your family will be able to easily settle their claims when they need to.
Easy-to-understand policies
The plans are made to be easy to understand. The plans comes with simple, easy to understand terms and conditions, which makes it easier for policyholders to know what they are and aren't covered for.
Choices for riders
You can make your base policy even better by adding optional riders, such as benefits for critical illness or accidental death. You don't have to buy a lot of policies; you can make the coverage fit your family's needs.
Services that work well with digital devices
You can do a lot of things online, like making simple requests or servicing policies. This cuts down on paperwork and saves time, which is great for customers who don't want to go to the branch very often.
Wide plan range
Bandhan Life has plans for term, savings, ULIP, and retirement. This makes it easier to stick with the same insurance company as your financial goals change over time.

Buying Bandhan Life Insurance Through Policybazaar

Policybazaar makes it easy to buy Bandhan Life plans online with comparisons if that's how you like to do it.

Step 1: First, go to the life insurance section and choose Bandhan Life from the list of insurers. Step 2: Then, choose the type of plan you need and fill out some basic personal and income information.

Step 3: You can look at the coverage and premiums side by side before you pay online.

Step 4: If you have all the information you need, the process goes quickly. If you need help, there is support available.

Final Take: Should You Consider Bandhan Life Insurance?

Bandhan Life Insurance is a good choice for you if you want: affordable term insurance, the ability to manage your policies online, simple products, a history of settling claims, and long-term protection that is easy to understand.

Bandhan Life Insurance is a good choice for people who want clear information, prices, and a no-nonsense approach.

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FAQs

What is the claim ratio of Bandhan Life Insurance?

The company reports a claim settlement ratio of 99.73%.
Can Bandhan Life Insurance Term Insurance policy can be managed online?

Yes. You can easily manage Bandhan Term Life Insurance policy online. Paying online premiums to update policy information, you can do everything online.
Are whole-life options available in Bandhan Life Insurance?

Some term plans offer extended or whole-life coverage, depending on the policy chosen.
Is Bandhan Life suitable for first-time buyers?

Yes. The products are relatively easy to understand, which helps first-time insurance buyers.
Can I trust Bandhan Bank?

Yes, Bandhan Bank is a licensed and regulated bank under the Reserve Bank of India (RBI). It operates as a scheduled commercial bank and follows the same regulatory framework as other major private and public sector banks in India.

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˜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.

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