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Bandhan Life Insurance Benefits

136 reviews Rate This
Claim Settlement Ratio99.66%
Customer Care9:00 AM to 7:00 PM
Death Benefit Paid For274 policies
Total Death Benefit Paid86.14 Crore

Bandhan Life Insurance plans are a type of insurance plan that aims to satisfy the financial security requirements of the policyholder at a very affordable price in order to safeguard their future. By buying a term insurance plan, you can ensure financial support to your family members even in your absence i.e. if anything happens to you during the policy tenure, then the nominee is entitled to receive the sum assured from the insurance provider in order to meet the daily expenses and long term financial goals of the family members. Moreover, you are given the flexibility to enhance your coverage by including riders or add-on covers to your existing term insurance cover.

Why To Buy Bandhan Life Insurance?

Bandhan life insurance plans extend multiple benefits to the policyholder, some of them are listed below:

  • Cost-Effective: Term insurance plans by Bandhan Life insurance provides customers with great value for their money. These plans are not only comprehensive in nature but are also cost-effective. While the coverage for term insurance plans remains high, the premium payable is quite low. This is known to be one of the significant benefits of Bandhan Life insurance plans.
  • Flexible Death Benefit Option: Bandhan life term insurance provides their customers with flexibility in pay-out options for death benefits. A couple of options are presented forth the customers to choose from such as a lump sum payment option, fixed monthly income for around 100 months, or a combination of the two.
  • Longer Coverage: Generally, most of the term insurance plans offer coverage to a person for up to 70 years of age, but Bandhan life term plans offer coverage to their customers for up to 80 years of age. Thus, making it one of the term plans offered in the market with the longest tenure.
  • Riders: With Bandhan life term insurance plans, the customers are offered various kinds of both in-built and add-on riders. The in-built riders in the term plans by Bandhan Life are critical illness and death benefit riders. Moreover, the customers are allowed more riders to the term plans as per their suitability.
  • Tax Benefits: As per section 80 C of the Income Tax Act, 1961, premium payable and sum assured of term insurance plans is tax exempted.

Term Life Insurance Premium Calculator


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Disclaimer :
1. Premium has been calculated for coverage till 60 years
2. Eligibility depends on income, occupation and educational qualification

Best Bandhan Life Insurance Plans

1 Crore
1.5 Crore
2 Crore
    Tax Free
    1 Cr
Starting From 682/Month
Claim Settlement
Key Features:
  • Right Green Tick Zero Cost Benefit
  • Right Green Tick Terminal Illness
  • Right Green Tick Nominee's Choice payout
  • Right Green Tick Voluntary Top Up
    Tax Free
    1 Cr
Starting From 771/Month
Claim Settlement 24hr Claim Settlement
Key Features:
  • Right Green Tick Terminal illness
  • Right Green Tick Special Exit - Option to get your premiums back
  • Right Green Tick Renewability Option
    Tax Free
    1 Cr
Starting From 663/Month
Claim Settlement 4hr Claim Settlement
See More Plans

User Reviews

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What users are saying
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  • Complete Cover

    Last year, when I bought my term plan from Bandhan Life Insurance, I was a bit doubtful. But, having a critical illness rider on my term plan provided me with additional financial security. Recently, I was able to take advantage of its benefits. Thanks to InsuranceDekho for suggesting this option!

    By Shoba rani
    On: Jun 20, 2024
  • Fantastic Service

    I decided to buy family insurance from InsuranceDekho, and choosing the Bandhan term insurance for my family's safety was a no-brainer. Their process was smooth, making it easy for me to understand and secure our future without hassle.

    By Nandini Goyal
    On: Jun 07, 2024
  • Quick and Easy Process

    InsuranceDekho is the best online platform to buy term insurance plans. I bought the Aegon Term Insurance Plan quickly and easily. Comparing the plans to buying the best term plan for myself by very easy and smooth process. Thank you InsuranceDekho for helping me out.

    By Jatin Sharma
    On: Feb 07, 2024
  • Effortless Service

    The team of InsuranceDekho offered me effortless customer support when I was buying the Aegon Term Insurance plan with them. They helped me completely and made it easier for me to buy the Aegon term Insurance Plan from InsuranceDekho.

    By Niharika Saini
    On: Dec 11, 2023
  • Responsive Customer Support

    Dealing with InsuranceDekho's customer support was a positive experience. They were quick to respond to my queries about my Aegon Term Insurance-iTerm Insurance Plan, providing clear and concise information about my term insurance policy.

    By Soma Sunder
    On: Nov 16, 2023
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Bandhan Life Insurance Contact Details

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Claim Process at Bandhan Life Insurance

  • 1

    Claim Intimation

    In the case of death of the life assured, a claim intimation to the insurance company must be made as early as possible.
  • 2

    Submission of Documents

    Claim form, death certificate, original policy document, and more documents must be submitted to ensure smooth claim settlement.
  • 3

    Claim Evaluation

    Once the documents are submitted, the insurance company will conduct thorough evaluation of the claim filed.
  • 4

    Claim Settlement

    If claim request is approved, claim settlement is done within 30 days. If additional investigation is required, it make take 6 months.

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  • What will I get if my Bandhan Life Term Insurance policy matures?

    Bandhan Life Term plan does not have a maturity benefit. The benefits will be paid out to the policyholder family in case of his/her death or to the policyholder in case if he/she is diagnosed with a terminal illness. If the policyholder chooses the critical illness benefit, the benefits would be paid out to the policyholder if he/she is diagnosed with any of the listed 36 critical illnesses.

  • Can I make changes to my Bandhan term policy after I buy it?

    No, policy terms and the premium amount cannot be changed once the policy is bought.

  • Are terrorist attacks covered under the Bandhan life term insurance policy?

    Yes, death due to terrorist attacks is covered under the Bandhan term plan. The death benefit can be claimed by the policyholder nominee or the legal heir. 

  • How much life cover should I select when I buy an Bandhan term plan?

    Your ideal life cover amount should depend upon your financial situation. Income and Liabilities should be taken into consideration. The basic rule to select your life cover is:

    • At age 30 years, life cover should be 20 times your annual income.
    • At age 40 years, life cover should be at 15 times your annual income.
    • At age 50, your life cover should be 10 times your annual income.
  • What is Critical Illness Cover?

    Critical illness cover is an additional benefit rider available with Aegon term plan which will provide the policyholder with a lump sum payout if diagnosed with listed 36 critical illnesses. There are no restrictions on hospitals or against any expenses incurred.

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