Kotak Life Insurance vs Bandhan Life Insurance

Kotak e-Term

Premium starts ₹0/month

Max Coverage Upto

75 yrs

Claim Settlement Ratio

99.5%

Average Claim Trend

98.79%

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iTerm Elite

Premium starts ₹1,027/month

Max Coverage Upto

85 yrs

Claim Settlement Ratio

99.7%

Average Claim Trend

99.59%

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Comparison between Plans

Kotak e-Term Plan

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iTerm Elite

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Compare both Kotak Life Insurance vs Bandhan Life Insurance to find the most suitable term insurance policy in India in 2026. Here is a detailed comparison based on premiums, claim settlement ratio, insurance plans, riders, solvency ratio, and suitability.

Which is Better, Kotak Life or Bandhan Life?

Both companies are licensed by IRDAI and might be extended for coverage. This will be determined by the policyholder's preference for having flexibility in their plan or a policy that is more protection-oriented.

Choose Kotak Life Insurance: If you want flexible term insurance plans and long term saving plans that provide customisable options for payout after a policy, then you can opt for Kotak Life Insurance.
Choose Bandhan Life Insurance: If you are seeking affordable life insurance policy plans with easy protection cum saving features, then Bandhan Life Insurance presents the customer friendly plans which are centered on financial security and future planning.

Kotak Life vs Bandhan Life – Comparison Table

Kotak Life Insurance and Bandhan Life Insurance provide numerous term insurance policies:

Features	Kotak Life	Bandhan Life
Claim Settlement Ratio	98.6%	99.7%
Solvency Ratio	2.6%	3.3%
Entry Age (Term Plans)	18 to 65 years	18 to 65 years
Maturity Age	Up to 100 years	Up to 85 years
Riders Available	Waiver or Premium (paid), Cover against 37 Critical Illnesses (paid), Extra Payout on Accident Death (paid)	Accidental Death Benefit Rider, Critical Illness Rider, CI Care Rider, Bandhan Life AD Rider, Waiver of Premium benefit
Premium Payment Options	Yearly/Half-Yearly/Quarterly/Monthly	Yearly/Half-Yearly/Quarterly/Monthly
Online Purchase	Yes	Yes

Note: Data is indicative and based on insurer disclosures and IRDAI reports.

Term Insurance Plans Offered

There are various term insurance policies available under both Kotak Life Insurance and Bandhan Life Insurance.

Kotak Life Insurance Term Plans

Kotak e-Term Plan: Ideal as a high coverage for low premiums, offers multiple plans and some beneficial riders. It is good for those who are interested in a tailored insurance plan, but are willing to pay for it.
Kotak Term Plan: Ideal for people who want a dependable term insurance policy that they can acquire to guarantee their family's future while the period of the plan is in effect. It's ideal for those who want to buy long-term insurance policies that have flexible premium options.
Kotak Saral Jeevan Bima Plan: Suitable for those seeking life insurance coverage at low costs and minimal features. This is ideal for people who want a simple insurance plan that provides a death benefit.
Kotak Protect India Plan: Ideal for young age investors who want to buy an insurance plan at an affordable price. This scheme offers the convenience of buying online, as well as many other features, such as accidental death cover.
Kotak TULIP: Ideal for investors who want to plan their financial goals and build wealth in the market while also offering them life insurance protection.

Bandhan Life Insurance Term Plans

Bandhan Life iTerm Prime Plan: Designed for individuals who are looking for a high life cover at low premium. It's an easy financial safeguard that doesn't have an investment element.
Bandhan Life iTerm Comfort Plan: Designed for the individuals who wish to buy a term insurance product with flexible premiums and riders that will return the premium in the future.
Bandhan Life iTerm ROP Plan: Suited for individuals who wish to have both protection and maturity benefits. A premium term insurance plan where premiums are returned at the end of the insurance policy.
Bandhan Life Saral Jeevan Bima Plan: Ideal for those who are simple in mind and requires financial protection. A simple term insurance plan that offers simple life insurance cover without complications.

Premium Comparison (Illustrative Example)

This comparison follows both insurers based on current online indicators for a sample customer profile:

Age: 25 years.
Gender: Male.
Smoker: No.
Sum Assured: ₹1 Crore.
Annual income: ₹8 lakh to ₹10 lakh.
Policy Term: 65 years.
Occupation Type: Salaried.
Education: Graduate.

Insurer	Approx. Monthly Premium
Kotak e-Term Plan	₹580
Bandhan Life iTerm Prime	₹640

Actual premiums vary based on health, lifestyle, and rider selection.

Claim Settlement Analysis

The number of claims that the insurance company pays off in a fiscal year is referred to as the claim settlement ratio. The Kotak Life Insurance Company has reported a claim settlement ratio of 98.6% and Bandhan Life Insurance has reported a claim settlement ratio of 99.7%. Both are good indicators of reliability and could be considered alongside benefits and premiums.

Who Should Choose Which Insurance Company?

These are the steps to follow for you to choose the insurer when the plan choices remain the same:

Choose Kotak Life Insurance:

If you are seeking flexible term, ULIP and long term value plans.
If you are looking for investment avenues that are linked to the market, such as Kotak TULIP for wealth creation.
If you want flexible payment options and a digital policy service to simplify financial planning.

Choose Bandhan Life Insurance:

If you wish to have cost effective security and guaranteed savings plans.
If you want simple life insurance solutions focused on long-term financial security and family protection.
If you are looking for the possibilities to pay premiums and receive benefits in a flexible manner in a plan designed to provide a savings benefit.

Final Recommendation

Bandhan Life Insurance and Kotak Life Insurance can both be trusted sources of insurance for your family. Bandhan Life Insurance is a more flexible one for those seeking simple but low-cost insurance policies, while Kotak Life Insurance appeals to those with diverse options.

Explore the popular searches and stay informed

˜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

+On the basis of your profile

+Rs. 410/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. 410/month (Rs.14/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 rounded off to nearest 10

+Rs. 245 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.

+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. 15/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. 504/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. 494/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. 636/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. 918/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. 1,286/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.

+Rs. 453/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.582/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. 786/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. 1,592/month 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.

+Rs. 525/month is the starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 68 years of age.

+Rs. 668/month is starting price for a 2 crore term life insurance for an 25 year-old male, non-smoker, with no pre-existing diseases, cover upto 45 years of age.

+Rs. 1,200/month is starting price for a 2 crore term life insurance for an 35 year-old male, non-smoker, with no pre-existing diseases, cover upto 55 years of age.

+Rs. 410/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.

+Rs. 577/month is starting price for a 1 crore term life insurance for an 18 year-old Male, self employed, 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. ₹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

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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