TATA AIA Life vs Bandhan Life

Sampoorna Raksha Promise
Premium starts ₹982/month
Max Coverage Upto
100 yrs
Claim Settlement Ratio
99.4%
Average Claim Trend
99.18%
Check Now
VS
iTerm Prime
Premium starts ₹0/month
Max Coverage Upto
70 yrs
Claim Settlement Ratio
99.7%
Average Claim Trend
99.37%
Check Now
₹1 Crore Life cover starting from +
Lowest Price Guarantee ˜
Check Your Premium Now
Please wait. We Are Processing..
Term Insurance
Get Updates on WhatsApp
×
Comparison between Plans
TataMaha Raksha Supreme Select
Check Premium
bandhaniTerm Prime
Check Premium
Add to compare

Compare and review Tata AIA Life Insurance and Bandhan Life Insurance to check which insurer is offering the best term insurance plans in India in 2026. This comparison guide involves premiums, available plans, claim settlement ratios, and solvency ratios to find the best match. 

Which is Better - TATA AIA or Bandhan Life?

Both insurers are evaluated by the Insurance Regulatory and Development Authority of India (IRDAI) and provide reliable services. The choice of plan is dependent on the financial needs and preferences of the buyer. 

  • Choose Tata AIA Life for its solid financial backing, health-focused insurance benefits, rapid 4-hour claim settlement feature, and dependable customer support.

  • Choose Bandhan Life if you are looking for a simple term plan with competitive prices, 100% premium return options, Special Exit Value, and other special plans like iTerm Prime

Both companies offer a wide range of life insurance plans that cater to the needs of every customer. Tata AIA offerings are more structured and complete, while Bandhan Life Insurance policies are easy to understand, simple to purchase, and unbeatable in price.

TATA AIA vs Bandhan Life: A Comparison Table

The table below highlights how TATA AIA Life and Bandhan Life Insurance stand against each other on the basis of some important policy features and their respective eligibility criteria.

Features TATA AIA Life Insurance Bandhan Life Insurance
Claim Settlement Ratio (FY 2024–25) 99.41% 99.73%
Solvency Ratio 1.93  2.52
Entry Age (Term Plans) 18 – 65 years 18 – 65 years
Maturity Age Up to 100 years Up to 85 years
Riders Available Accidental Death Benefit
Accidental Death & Dismemberment Rider
Critical Illness Rider
Waiver of Premium
Terminal Illness Benefit 
Vitality protect plus 
Accidental Death Benefit
Accidental Death & Dismemberment Rider
Critical Illness Rider
Premium Waiver
Terminal Illness Benefit 
Premium Payment Options Yearly / Half Yearly / Monthly / Quarterly / Single Pay Yearly/ Half Yearly / Quarterly / Monthly
Online Purchase Yes Yes

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

Term Insurance Plans Offered

Here are the term insurance plans that Tata AIA Life Insurance and Bajaj Allianz Life Insurance offer:

Tata AIA Life Insurance Plans

Bandhan Life Term Insurance Plans

  • Bandhan Life iTerm Prime: Best for self-employed, small business owners, and for someone who is looking for long-term coverage with standard death benefit options.

  • Bandhan Life iTerm Comfort: A plan best suited to sole wage earners, parents with young children, working women, or housewives who want an affordable term plan.

  • Bandhan Life Saral Jeevan Bima Plan: A plan ideal for first-time buyers, low-income profiles, married individuals, or someone who has newly become a parent and is looking to save a death benefit for dependents. 

Premium Comparison (Illustrative Example)

Based on current online term insurance calculators, the following comparison gives an approximate idea of the monthly premiums for the following sample customer profile:

  • Age: 23 years

  • Gender: Male

  • Smoker: No

  • Education: Graduate

  • Occupation Type: Salaried

  • Annual Income:  ₹8 to ₹10 Lakhs

  • Sum Assured: ₹1 Crore

  • Policy Term: 60 years 

Insurer Approx. Monthly Premium
Tata AIA Sampoorna Raksha Promise  ₹671
Bandhan Life iTerm Prime ₹658

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

Information sourced from Policybazaar’s website 

Claim Settlements Analysis

The claim settlement ratio shows the percentage of claims an insurance company settles in a year.

  • Tata AIA Life Insurance has always done well, with a claim settlement ratio of about 99.41%. This shows that the company is always growing and working well. 

  • Bandhan Life has also shown that it can settle claims quickly and fairly, with a claims settlement ratio of 99.73%.

Who Should Pick Which Insurance Company?

Use the following criteria to choose the best insurance company for you:

Choose Tata AIA Life If:

  • You want an insurer with a massive legacy and trust component (Tata Group).

  • You are interested in wellness rewards (rewards for staying healthy through the Vitality program).

  • You want coverage that goes up to the age of 100 (whole life coverage options).

  • You want a fast claim settlement (4-hour express promise).

Choose Bandhan Life if:

  • You are searching for the lowest premiums available in the market.

  • You want a completely digital, paperless purchase process.

  • You are interested in a simple "buy and forget" term insurance without any complicated riders.

Final Suggestion

Both Tata AIA and Bandhan Life Insurance have some good term plans, but each caters to different needs. Tata AIA is an ideal choice for people who want complete coverage along with extra benefits, health features, and the option to increase their protection gradually. Bandhan Life is ideal for people who want basic and easy-to-understand plans that include life protection at low premiums. 

FAQs

  • Q: Is Bandhan life insurance good or bad?

    Ans: Bandhan life insurance is seen generally as a strong option for affordable, simple term plans with high CSRs and fast online processing of claims, making it a good option for budget-conscious buyers.
  • Q: Is Tata AIA life insurance good?

    Ans: Yes, with a good claim settlement ratio in the financial year 2024-2025 , Tata AIA life insurance is among the most trusted and reputable insurers of the country.
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.


Term Insurance Articles

03 Apr 2026

Home Loan Insurance in Delhi

In a metropolis like Delhi where property prices are sky-high

Read more
03 Apr 2026

ICICI Home Loan Interest Rates 2026

As of April 2026, the ICICI home loan interest rate starts from

Read more
03 Apr 2026

Soil Health Card Scheme

Agriculture forms the backbone of India’s economy, supporting

Read more
03 Apr 2026

Smart Cities Mission

The Smart Cities Mission is an urban development initiative

Read more
03 Apr 2026

PNB MetLife Term Insurance Claim Rejection

PNB MetLife term insurance claims can be rejected if the

Read more

Calculate Term Insurance Premium Online in India...

Term Insurance Calculator A Term insurance calculator is a freely available online tool that helps you calculate the

Read more

Claim Settlement Ratio of Term Insurance Plan...

Term Life Insurance Claim Settlement Ratio (CSR) is an important parameter to be considered when choosing a term

Read more

Home Loan Interest Rate

Home loan interest rate decides how manageable your home purchase feels over the years. Even a slight change in

Read more

Buy Best ₹1 Cr Term Insurance Plan Online

A 1 crore term insurance plan is a pure form of life insurance that provides a death benefit of Rs. 1 crore to

Read more

Home Loan Insurance Calculator: Estimate Your...

A home loan insurance calculator is an easy-to-use online tool that shows you how much it will cost to protect

Read more
Get Call Back Now
Claude
top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL