Bandhan Life Insurance vs HDFC Life Insurance

iTerm Prime

Premium starts ₹992/month

Max Coverage Upto

85 yrs

Claim Settlement Ratio

99.7%

Average Claim Trend

99.37%

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Click 2 Protect Supreme

Premium starts ₹1,134/month

Max Coverage Upto

85 yrs

Claim Settlement Ratio

99.7%

Average Claim Trend

99.53%

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Compare Bandhan Life Insurance and HDFC Life Insurance plans to understand how these insurers differ in providing the best term insurance plan in India 2026. This comparison is made by considering factors such as claim settlement ratios, solvency ratios, premium rates, personal insurance needs, and requirements.

Which is Better - Bandhan Life or HDFC Life?

Both insurances are overseen by the Insurance Regulatory and Development Authority of India, or the IRDAI, and offer term insurance products and services that provide financial protection to policyholders’ families.

Go for Bandhan Life Insurance if you are looking for affordable, online first-term insurance plans, early payouts, Waiver of Premium, and premium flexibility.
Go for HDFC Life if you prefer brand reputation, long-standing service, flexible term plans, and a broader offering of plans with customisation options and riders.

Both companies offer a wide range of life insurance plans that caters the needs of every customer.

Bandhan Life vs HDFC Life - Comparison Table

This table compares Bandhan Life Insurance and HDFC Life Insurance in various key features:

Features	Bandhan Life Insurance	HDFC Life Insurance
Claim Settlement Ratio (FY 2024-2025)	99.7%	99.68%
Solvency Ratio (FY 2024-2025)	2.52	1.87
Entry Age (Term Plans)	18 to 65 years	18 to 65 years
Maturity Age	Up to 85 years	Up to 85 years
Riders	Accidental Death Benefit Accidental Death & Dismemberment Rider Critical Illness Rider Premium Waiver Terminal Illness Benefit	Accidental Death Benefit Rider, Accidental Total & Permanent Disability Rider, Critical Illness Rider, Livwell Rider, Waiver of Premium Rider, Income Benefit on Accident Disability Rider, Protect Plus Rider,
Premium Payment Type	Yearly/Half-Yearly/Quarterly/Monthly	Yearly/Half-Yearly/Quarterly/Monthly
Online Purchase	Yes	Yes

Note: Information based on publicly available insurer disclosures and IRDAI reports.

Term Insurance Plans Offered

The following section lists the term insurance policies that HDFC Life Insurance and Bandhan Life Insurance provide:

Bandhan Life Term Insurance Plans

Bandhan Life iTerm Prime: This plan is well-suited for self-employed professionals as well as those who want quick online purchase options with direct coverage features.
Bandhan Life iTerm Comfort: This plan is designed for those who want high coverage and a flexible duration with a variety of riders.
Bandhan Life Saral Jeevan Bima: This plan is mainly for first-time insurance buyers, and it is IRDAI mandated that it provides the same features to all the covered individuals.

HDFC Life Term Insurance Plans

HDFC Life Click 2 Protect Supreme: This plan is suitable for those individuals who want a comprehensive term coverage with flexible payout options and also the ability to customise benefits based on long-term financial responsibilities
HDFC Life Click 2 Protect Supreme Plus: Ideal for individuals those individuals who are looking for advanced protection with enhanced features and optional riders to build broader financial security for their family.
HDFC Life Click 2 Protect Super: This plan is suitable for individuals who want flexible coverage with multiple payout options and the ability to customise benefits as per their needs.
HDFC Life Click 2 Protect Life: This plan is ideal for those individuals who are looking for simple and pure term insurance coverage without additional complexities.
HDFC Life Sanchay Legacy: Best suited for individuals seeking guaranteed income along with life protection, especially those who prefer predictable payouts and long-term financial stability.
HDFC Life Click 2 Protect Elite Plus: This plan is suitable for individuals who want extensive term coverage with multiple payout choices and enhanced protection features tailored to varied life stages.
HDFC Life Click 2 Protect Ultimate: This term insurance plan is ideal for individuals looking for highly flexible term insurance with wide coverage options, diverse premium payment choices, and comprehensive protection benefits.

Premium Comparison (Illustrative Example)

The table which is shown below compares Bandhan Life Insurance and HDFC Life Insurance's key policy features and their eligibility criteria. Let’s discuss in detail:

Sample Profile:

Age: 23 years
Gender: Male
Smoking: No
Assured Sum: ₹1 Crore
Annual Income: ₹8 to 10 lakh
Policy Term: 60 years
Occupation Type: Salaried
Education: Graduate

Insurer	Approx. Monthly Premium
Bandhan Life iTerm Prime	₹658
HDFC Life C2P Supreme	₹768

*The real premium varies according to age, health status, policy duration, and chosen riders.

Information sourced from Policybazaar’s website

Claim Settlement Analysis

Claim settlements show how many claims the insurer has settled in a financial year.

Bandhan Life Insurance reports a claim settlement ratio of 99.7%, which shows steady claims processing performance.
HDFC Life Insurance reports a claim settlement ratio of 99.68%, which is backed by established operational processes.

Who Should Choose Which Insurance Company?

Before choosing the insurer, it is necessary to check if they fit the personal criteria of the insured individual or not. Below is a comparison of the plans:

Bandhan Life may be considered if:

You want long-term coverage and a simple application process
You prefer in-built riders with the right customisation options
You want a high, reliable claim settlement ratio

HDFC Life may be considered if:

You prefer to choose from a selection of several plan options
You want multiple riders and payout options in your insurance plan
You prioritize brand trust and reputation

Final Recommendation

Bandhan Life Insurance and HDFC Life Insurance provide financial protection to the dependents in the case of the insured individual’s death. Out of the two, Bandhan Life Insurance has a simpler structure and plan, while HDFC Life provides customisation to individuals by offering various plans and rider options.

FAQs

Q: Which is a better insurer- HDFC Life or Bandhan Life Insurance ?

Ans: Both HDFC Life and Bandhan Life Insurance plans are approved by IRDAI. HDFC Life offers a comprehensive range of insurance products, brand trust and reputation, and comprehensive rider options. Whereas Bandhan Life is mainly known for competitive term insurance premiums, simplicity, and a strong claim settlement ratio.
Q: Does HDFC own Bandhan Bank?

Ans: Both HDFC Life and Bandhan Life Insurance plans are approved by IRDAI. HDFC Life offers a comprehensive range of insurance products, brand trust and reputation, and comprehensive rider options. Whereas Bandhan Life is mainly known for competitive term insurance premiums, simplicity, and a strong claim settlement ratio.
Q: What is the claim settlement ratio of Bandhan life vs HDFC Life?

Ans: No. HDFC is not owned by Bandhan Bank. Bandhan Bank is a separate entity.
Q: Can I buy Bandhan Life and HDFC Life term insurance online?

Ans: Yes. Both insurers provide online term insurance purchase options.

Term Plan Comparison

Term insurance is essential because it provides financial security for your loved ones in case of your untimely death. It ensures they can cover expenses like loans, education, and daily living costs, even in your absence. Comparing term insurance policies from different insurers helps you find the best coverage at the most affordable price, tailored to your specific needs.

When comparing term insurance policies from two of the top Indian insurers like Bandhan And Hdfc Life Insurance, consider factors like the premium amounts, the sum assured, and the policy tenure. Look at the claim settlement ratios to understand how reliable each insurer is in paying out claims. Additionally, check for any riders or additional benefits offered, such as critical illness rider or accidental death benefits.

To simplify this process, you can use Policybazaar's comparison tool. This tool allows you to quickly and conveniently compare various term insurance policies side-by-side. It highlights key differences, benefits, and costs, helping you make an informed decision without the hassle of manually researching each policy.

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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.

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