Bandhan Life vs Kotak 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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VS
Kotak e-Term
Premium starts ₹1,082/month
Max Coverage Upto
85 yrs
Claim Settlement Ratio
98.6%
Average Claim Trend
98.37%
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Compare Bandhan Life and Kotak Life Insurance to check which insurance company offers the best term insurance plan in India 2026. This comparison guide covers premiums, claim settlement ratios, rider choices, solvency ratios, available plan options, and overall suitability.

Which is Better - Bandhan Life or Kotak Life?

Both insurers are governed by the Insurance Regulatory and Development Authority of India (IRDAI) and provide reliable term insurance options. The choice depends on your coverage needs and budget.

  • Choose Bandhan Life if you want term insurance products that are simple, easy to understand, and have few benefits at a low cost.

  • Choose Kotak Life if you are looking for strong digital convenience, backed by a reputable financial group with good customer service.

Both companies offer term life insurance policies with full assurance. Bandhan Life provides simple, cost-effective life insurance, but Kotak Life Insurance offers scope for customisation, tailored to each individual’s choice and preferences.

Bandhan Life vs Kotak Life - Comparison Table

Here is a comparison table for the Bandhan Life and Kotak Life insurance term policies, focusing on their associated features and their respective individual requirements:

Features Bandhan Life Insurance Kotak Life Insurance
Claim Settlement Ratio (FY 2025–26) 99.73% 98.61%
Solvency Ratio 2.52 2.51
Entry Age (Term Plans) 18 – 65 years 18 – 65 years
Maturity Age Up to 85 years Up to 85 years
Riders Available Accidental Death Benefit
Accidental Death & Dismemberment Rider
Critical Illness Rider
Premium Waiver
Terminal Illness Benefit
Accidental Death Benefit Rider
Critical Illness Plus Rider
Permanent Disability Rider
Accidental Disability
Guardian benefit rider
Premium Payment Options Yearly / Half Yearly / Quarterly/ Monthly Yearly / Half Yearly / Quarterly/ Monthly
Online Purchase Yes Yes

Note: This information is taken from publicly accessible disclosures of Bandhan Life iTerm Prime Insurance and Kotak Life e-Term.

Term Insurance Plans Offered

Bandhan Life Insurance and Kotak Life Insurance both offer term insurance plans. This section goes into more detail about these plans.

Bandhan Life Term Insurance Plans

  • Bandhan Life iTerm Prime: Offers term life insurance with basic death benefits and extra riders.

  • Bandhan Life iTerm Comfort: This plan includes life insurance, rider options, and flexible payment options for premiums.

  • Bandhan Life Saral Jeevan Bima: This is a simple term life insurance plan that offers basic life insurance cover at low premiums and easy-to-understand policy terms.

Kotak Life Term Insurance Plans

  • Kotak e-Term Plan: It has a lot of options for payouts and is flexible. It also has low premiums for high life coverage.

  • Kotak Saral Jeevan Bima Plan: A simple, basic term life insurance plan that gives you the minimal protection you need with clear conditions.

  • Kotak TULIP (Term + ULIP): This is a mix of a term and unit-linked insurance plan that protects your life and lets you grow your money through fund allocation and loyalty bonuses.

  • Kotak Signature Term Plan: It is a high-coverage term insurance plan that starts at ₹2 Cr and offers extensive life cover, low premiums, special exit and quick claim benefits, health and wellness support, and optional riders for even more benefits.

Premium Comparison (Illustrative Example)

As per the current online term insurance calculators, the following comparison presents an indicative view of monthly premiums for the following sample customer profile:

  • Age: 23 years

  • Gender: Male

  • Smoker: No

  • City: Delhi

  • Sum Assured: ₹1 Crore

  • Annual income: ₹8 lakh to ₹10 lakh

  • Policy Term: 60 years (up to age 85)

  • Occupation Type: Salaried

Insurer Approx. Monthly Premium
Bandhan Life iTerm Prime ₹658
Kotak e-Term ₹669

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

Information sourced from Policybazaar’s website

Claim Settlement Analysis

The claim settlement ratio is the percentage of claims that an insurance company pays within a financial year.

  • Bandhan Life Insurance has shown a good performance in settling claims, as evidenced by its claim settlement ratio of 99.73%.

  • Kotak Life Insurance has maintained a solid claim settlement performance, reporting a claim settlement ratio of around 98.61% in recent disclosures.

Who Should Pick Which Insurance Company?

Here are some tips that might help you choose the right insurance company for you:

Choose Bandhan Life If:

  • You want a term life insurance plan that is easy to understand.

  • You want long-term coverage features that will keep you safe for a long time.

  • You are comfortable with having a few rider options.

Choose Kotak Life If:

  • You need a large number of riders, including additional coverage.

  • You want plans that have flexible premium payouts.

  • You want a mix of simple term insurance and more advanced protection plans.

Final Recommendation

Bandhan Life and Kotak Life Insurance are two good choices for term insurance in India. Both companies offer excellent term life plans that you can trust. Bandhan Life offers basic, low-cost protection, while Kotak Life Insurance lets you choose from more options and make changes as needed. A comparison of premiums, terms of coverage, and riders will help in making the right decision.

FAQs

  • Q: Is Bandhan life insurance good or bad?

    Ans: Bandhan Life Insurance is considered a good and reliable insurer in India, which is highly recognised for a high claim settlement ratio of 99.73% in recent disclosures.
  • Q: What is the rank of Kotak Life Insurance?

    Ans: Kotak Life Insurance has ranked among the top 10 private life insurance companies in India and recently ranked at the 9th position in market share.
  • Q: Why choose Bandhan Life Insurance?

    Ans: Choose Bandhan Life Insurance if you want a plan with a high claim settlement ratio that offers 4-hour express claim settlement and comes with a diverse product portfolio at affordable premiums.
exclusive-benefit

˜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.


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