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.Â
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.Â
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.
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 | 1.93Â | 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.
Here are the term insurance plans that Tata AIA Life Insurance and Bajaj Allianz Life Insurance offer:
Tata AIA Sampoorna Raksha Promise: Best suited for women seeking adaptable insurance coverage as responsibilities grow.
Tata AIA Maha Raksha Supreme: A practical option for individuals wanting both payout flexibility and strong life cover.
Tata AIA Saral Jeevan Bima: Ideal for first-time insurance buyers seeking essential protection.
Tata AIA InstaProtect Solution: Best for individuals who prefer consolidated life and health-related benefits.
Tata AIA Shubh Shakti:Suitable for women planning long-term financial independence and security.
Tata AIA Shubh Shakti Select: Ideal for women who want more personalised and flexible term insurance coverage.
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.Â
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 yearsÂ
| 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 websiteÂ
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.Â
Bandhan Life has also shown that it can settle claims quickly and fairly, with a claims settlement ratio of 99.73%.
Use the following criteria to choose the best insurance company for you:
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).
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.
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.Â
˜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.