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Bandhan Life Insurance
Bandhan Life Insurance
Bandhan Life Insurance is one of the major players transforming the insurance sector in India. The company aims to make ...Read More
What you get with Bandhan Life Insurance
The headline features and policy mechanics, at a glance.
Annual Premium 512.28 crores
Affordable premium options starting from entry-level to comprehensive whole-life protection.
99.73% claim settlement ratio
Industry-leading approval rate on eligible life insurance claims in the most recent fiscal year.
2.69x solvency ratio
Well above IRDAI's 1.5× floor — strong indicator of long-term claim-paying ability.
2+ optional riders
Extend a base policy with add-on covers — critical illness, accidental death, waiver of premium and more.
130+ pan-India presence
Branch offices and claim service centres across India for easy policy servicing.
Bandhan Life Insurance
Bandhan Life: Simplifying Insurance for Every Indian. Since its inception in 2008, Bandhan Life (formerly Aegon Life) has transformed the insurance landscape in India. Focused on innovation and customer-centric solutions, the company aims to make insurance accessible, affordable, and straightforward. Bandhan Life Insurance offers a range of insurance plans, including Savings, ULIP, Guaranteed, and Child plans. Policyholders can check their status via the company's website.
Bandhan Life Insurance Company ensures to look after your insurance needs by offering:
- Tailor-made Plans
- Digital Excellence
- Customer Centricity
- Partnerships with Bank of Baroda and Union Bank of India
01
Solvency Ratio
The solvency ratio indicates a company's ability to meet its long-term financial obligations. Bandhan Life's Solvency Ratio for 2022-23 was 3.1, exceeding the IRDAI-mandated 1.5.
02
Claim Settlement Ratio
The company maintains a strong claim settlement ratio (CSR) of 99.03%, indicating a reliable and efficient claim process. This is one of the highest CSRs among insurance companies.
03
Annual Premium
According to the IRDAI report 2022-23, Bandhan Life recorded an annual premium of Rs. 369.95 Crores.
Video reviews
Bandhan Life iTerm Prime || Bandhan Life i Term Prime Term Plan || Best Term Plan in India
Bandhan Life iTerm Prime is a comprehensive term insurance plan designed to secure your family& 039;s financial future.
Benefits of Bandhan Life Insurance Plans
Read below to understand the advantages provided by Bandhan Life Insurance:
Fosters Savings for Life
Bandhan life insurance plans help you invest regularly, building future savings that can support your family financially.
Income Tax Advantage
Premiums paid and benefits received under Bandhan life insurance policies are eligible for tax deductions under Section 80C and Section 10(10D) of the Income Tax Act, 1961.
Security & Satisfaction
Bandhan life insurance plans offer peace of mind and financial security, helping your family stay covered in unforeseen circumstances.
Riders You Can Avail With Bandhan Life Insurance Plans
Enhance your life plan with optional add-on riders for broader protection.
Bandhan Life Accidental Death Benefit Rider
This rider provides an additional payout in case of the policyholder's death due to an accident. The payout amount is usually a multiple of the sum assured chosen at the time of policy purchase.
Bandhan Life Critical Illness Rider
This rider provides a lump sum payout to the policyholder in case of the diagnosis of a listed critical illness.
Documents required
For policy purchase and claim submission. Have these ready before you start.
Photo ID Proof Passport, Aadhaar card, PAN card, or Driving license.
Age Proof Passport, Aadhaar card, PAN card, or Driving license.
Address Proof Utility bill, passport, voter ID, or ration card.
Medical Records Medical records of the policyholder (if requested).
Income Proof Bank statement or last three months' salary slips (for salaried individuals).
How to Buy a Bandhan Life Insurance Plan?
Step-by-step guides for the four key moments in your policy lifecycle. Click a tab to switch.
- Visit the PolicyX.com website or the Bandhan Life Insurance official website to compare and choose a suitable life plan.
- Enter your personal details such as name, date of birth, gender, annual income, and smoking status to get a customised quote.
- Compare plan options — choose your sum assured, policy term, premium payment term, and any optional riders.
- Fill in the proposal form with your contact details, nominee information, and medical history accurately.
- Upload the required documents: identity proof, address proof, income proof, and recent photographs.
- Pay the first premium online via net banking, UPI, debit/credit card, or cheque.
- Complete the medical examination if required (depends on your age and sum assured).
- Receive your policy document via email and registered post after underwriting approval.
How to File Bandhan Life Insurance Claims?
Every claimant/nominee is assigned a dedicated Claims Relationship Officer to assist them through the entire process. The life insurance claim settlement process at Bandhan Life Insurance involves the following three steps:
Online Process
Claim Intimation
Inform the company about the incident via various channels: by writing an email, calling the toll-free number, filling out the online claim form on its website, or visiting the nearest branch. A claim reference number will be provided upon successful registration.
Document Submission
Submit the necessary documents requested by the insurer to process the claim.
In case of natural death:
- Death claim form
- Death certificate
- Original policy documents
- Claimant's identity and residence proof
- Medical records
- Nominee's account details
In case of Accidental Death:
- Same documents as natural death
- FIR
- Post-mortem report
Claim Settlement
After receiving all documents and claim forms, the insurer will verify the details. If additional information is required, they will contact you via call or email. Upon successful verification, the claim will be settled, and the amount will be transferred to the nominee's bank account, with communication provided via call or email.
Offline Process
Claims can also be reported by visiting a local Bandhan Life Branch Office. Visit their website to locate the nearest branch. Essential documents must be submitted at the branch for claim processing.
- Log in to the Bandhan Life Insurance customer portal or the PolicyX.com dashboard before your policy renewal date.
- Review your existing policy details — coverage, premium amount, and nominee information.
- Choose to continue with the same plan or upgrade your sum assured if eligible.
- Pay the renewal premium online via net banking, UPI, debit/credit card, or cheque.
- Download the renewed policy document from your registered email or the insurer portal.
To calculate premiums and purchase a plan:
- Visit the official website and choose your desired plan.
- Fill in personal details such as Name, Gender, Date of Birth, Annual Income, etc., and click on "Get a Free Quote".
- After submitting the form, you will receive a call from the company's customer service team.
- Inform the salesperson about your requirements to receive plan details via email.
- The salesperson will share a payment link for you to complete the payment.
- Once payment is made, a confirmation will be sent to your registered email address.
What's covered — and what's not
The standard inclusions and exclusions across Bandhan Life Insurance plans. Specific plans may add benefits — always check the policy wording before purchase.
✗ Exclusions
- Death due to pandemics like COVID-19 or Ebola is not covered.
- Death due to participation in adventure sports.
- Death due to consumption of drugs and alcohol.
- Death due to any pre-existing disease not disclosed at policy inception.
- If a policyholder commits suicide within the first 12 months of policy inception, the nominee will not receive the death benefit. Instead, they will receive the premiums paid up to the date of the incident or the policy's surrender value, whichever is greater.
Conclusion
Bandhan Life Insurance stands out as a trusted provider of life insurance solutions, offering a wide range of products tailored to meet the diverse needs of individuals and families. With its commitment to customer-centric services, financial security, and innovative offerings, Bandhan Life Insurance plays a significant role in helping people safeguard their future and achieve their long-term financial goals. By focusing on trust, transparency, and convenience, it continues to establish itself as a reliable partner in the financial well-being of its policyholders. For more information, you can contact PolicyX.com at the toll-free number 1800-4200-269 or email us at helpdesk@policyx.com.
Why Choose PolicyX.com?
Don't just take our word for it — check out what our happy customers say about us!
All my claims were rejected for 3 years. Then, I received a text from PolicyX team, who noticed that my claims hadn't been settled. They managed to get my claims settled, totalling ₹4.5 L. I really appreciate the efforts of the PolicyX advisors for their support in settling my claims.
Ravindra SinghI highly appreciate the help of the PolicyX team for settling my claim of Rs. 5 Lakhs with zero deductions. I took a policy online from them in March 2024. As a customer, it's been a great experience throughout the process.
Priti VarshneyI'm very satisfied because my claim of over ₹2 L has been settled as a result of your team effort. However, I was very upset with the insurer, who delayed the claim for almost 2 months. But with your support and interaction, the claim was settled within 30 days & I appreciate it a lot.
Nisha MaryI bought my health policy from PolicyX, and so far, it's been a very pleasant experience with the team. I really appreciate the help for renewing my health policy. I look forward to continuing my relationship with PolicyX and recommend it to everyone.
Ajay ShahPolicyX has been a savior during a medical emergency in my family recently. My wife was admitted in the hospital, and the insurance company declined my claim request. The PolicyX team handled the situation very well and I received the claim right on time.
Vijay RathodI purchased a health plan for the very first time and the support by PolicyX is commendable. They helped me with the paperwork, explained the policy details to me with patience and supported me at every step of policy buying. A big thanks to you guys.
Uma MahajanFrequently asked questions
The 10 most-asked questions about Bandhan Life Insurance, answered.
Customer satisfaction
Aggregate ratings from 929 verified PolicyX customers who bought a Bandhan Life Insurance plan.
Life Insurance Articles
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PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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