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Bandhan Life Insurance FAQs

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Highlights
Claim Settlement Ratio99.37 %
Customer Care9:00 AM to 7:00 PM
Death Benefit Paid For274 policies
Total Death Benefit Paid86.14 Crore

Term Life Insurance Premium Calculator

Gender

  • Male
  • Female

Date of Birth

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Do you smoke or chew tobacco?

  • Yes
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Choose required coverage to secure your family’s future

50L
1Cr
1.5Cr
2Cr
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
2.5 Crore
  • LIFE COVER
    Tax Free
    1 Cr
  • CLAIMS SETTLED 99.51%
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
  • LIFE COVER
    Tax Free
    1 Cr
  • CLAIMS SETTLED 95.28%
Starting From 812/Month
Claim Settlement 24hr Claim Settlement
Key Features:
  • Right Green Tick Waiver of Premium on Disability
  • Right Green Tick Terminal Illness
  • Right Green Tick Life Stage Benefit
  • Right Green Tick Special Exit Benefit
  • LIFE COVER
    Tax Free
    1 Cr
  • CLAIMS SETTLED 99.39%
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
See More Plans

Benefit

  • What happens if the policyholder starts smoking a few later after he/she has insured themselves?

    In case, an individual has started drinking or smoking, then it will possibly reduce their life expectancy. However, to save themselves from future hassles and to avoid claim rejection, it is best to reveal all these details to your insurance provider.

  • Can a claim be filed in case of accidental death?

    If an insured dies due to an accident, then the Aegon Life insurance company will pay the sum assured amount to the nominee. Moreover, you can add various riders such as critical illness riders, accidental death benefit riders and more to enhance your coverage.

  • Is buying a term insurance plan advisable?

    Yes, it is an extremely wise decision to invest in a term insurance plan in order to secure the future of your family financially even in your absence.

  • How can I calculate the premium for my Bandhan Life term insurance plan?

    The calculation for the premium payable towards your Bandhan term insurance plan is done on the basis of factors such as gender, age, occupation, coverage, lifestyle habits etc of the policyholder buying it.

  • Do Bandhan Life term plans offer tax benefits?

    Yes, premium payable towards Bandhan Life term plans is exempted from tax as per the prevalent tax laws.

Claim Settement

  • Who is entitled to receive the death claim benefit?

    The claim money can be received by any of the following:

    • Nominee
    • The proposer, (in case you are not the policyholder)
    • Assignee, in case of policy, has been assigned
    • Legal heirs
    • Policyholder, in case of living benefit claims such as claims under health, disability, critical illness claims.

  • What happens when there is no nomination in the policy or when the policyholder and nominee die in the same event?

    When a policyholder or the nominee dies in the same event, such a claim is considered an open title claim. In such a case, the Succession Certificate or Probate of will is to be submitted by the claimant. If the insurance company has accepted the claim but is waiting for the issued certificate of proof, then Aegon Life Insurance holds the money till the proof is submitted and pays interest as directed by the IRDAI.

  • How do I communicate my concerns with respect to the claim decision?

    You can call at Aegon Life Insurance customer care toll-free number at - 1800-209-9090.

  • How do I report my term insurance claim?

    You can report your term insurance claim in the following ways:

    • Submit completed claim forms and required documents at the nearest Aegon Life Branch Office.
    • Submit completed claim forms and other documents at the Aegon Life Insurance Head Office.
    • Call the insurance company at toll-free customer care number- 1800-209-9090 for any further information or visit the Aegon Life Insurance website.

  • What is the turnaround time for Bandhan Life Term insurance plans?

    According to the Insurance Regulatory Development of Authority India (IRDAI) regulations, your claim should be decided and settled within 30 working days upon receiving the required documents.

Over View

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

Plans

  • What is the age limit for policyholders to purchase a term insurance plan?

    The policyholders of the age group between 18 years and 65 years can buy a term insurance policy. However, it is recommended to purchase a term plan at an early age, as the policy premium increases with the increase in age.

  • Can I earn tax benefits with my term insurance plan?

    Yes, you can earn tax benefits with the term insurance plans on their premium as per section 80C of the Income Tax Act, 1961. You can claim tax deductions against the premium paid for a maximum of up to Rs 1.5 Lakh.

  • Why should I opt for Bandhan life term insurance plans?

    Bandhan Life Term Plans provides you with a sum in the event of the demise of the insured person. Its term plans give life cover along with a diverse range of beneficial options to increase the coverage such as critical illness cover, accidental death cover and so on.

  • Can I purchase Bandhan term insurance plans online?

    Yes, you can buy term insurance plans online directly from the website of Bandhan Life Insurance within a few minutes. The online purchase process is fast as well as economical.

  • How many term insurance plans are offered by Bandhan Life Insurance?

    Bandhan life insurance offers various term insurance plans which are Bandhan Life iTerm Insurance Plan, Bandhan Life Group Term Plus Insurance Plan, Bandhan Group Credit Shield Insurance Plan, Bandhan Life Saral Jeevan Bima, and Bandhan Life Rural Term Insurance Plan.

Premium Calculator

  • What is the difference between buying a term plan online and offline?

    When you buy the Aegon Life term plan online, it is not only affordable but also saves you time and money. However, all benefits and features remain the same for both online and offline customers.

  • What is the toll-free customer care number of Bandhan Life Insurance?

    The 24x7 toll-free customer helpline number of Bandhan Life insurance is 1800 209 9090.

  • How will my age affect my Bandhan Life term insurance premium?

    Age is an important factor in deciding the premium. As the age increases, so will your term insurance premium.

  • How much does Bandhan Life term insurance cost?

    The cost of Bandhan Life term insurance depends on the type of policy you choose, your age, the sum assured, health conditions, and the benefits you expect to receive when your term of the policy expires.

  • When should I buy the Bandhan Life Term Insurance plan?

    The earlier you buy Bandhan Term Insurance the cheaper and better it is. With increasing age, Bandhan Life term insurance plans become expensive.

User Reviews

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What users are saying
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  • 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.

    J
    Bandhan
    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.

    N
    Bandhan
    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.

    S
    Bandhan
    By Soma Sunder
    On: Nov 16, 2023
  • Responsive Mobile App

    I often use the InsuranceDekho mobile app, and it's just as user-friendly as the website. It makes managing my Aegon Term Insurance-iTerm Insurance Plan on the go a breeze.

    N
    Bandhan
    By Nitika Chahal
    On: Nov 07, 2023
  • Family-Focused Plans

    InsuranceDekho offers family-focused term insurance plans, ensuring that all members of my family are covered under one policy. The Aegon Term Insurance Policy is convenient and cost-effective.

    K
    Bandhan
    By Kamal Kishore
    On: Oct 03, 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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