Bandhan Life also known as Aegon Life Insurance is one of the best term insuranc ...Read More
Bandhan Life also known as Aegon Life Insurance is one of the best term insurance provider that has served more than 5 million customer till date. ...Read Less
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Updated on Aug 18, 2025 9 min read
Bandhan Life Term Insurance Plans: Overview
Bandhan Life, formally known as Aegon Life Insurance, started its operations in India in July 2008. Since its inception, the insurer has served more than 5 million customers with its quick and easy buying and claim settlement process.
Bandhan Life Insurance offers various life insurance products one of which is term insurance. Their term insurance plans come with affordable premiums and comprehensive benefits of death, maturity, and return of premiums. They offer digital life insurance solutions designed to cater to the unique needs of customers. You can also check Bandhan Life Term Insurance reviews to choose the right plan.
What are some of the Benefits that set them apart?
Special exit value
Affordable premiums
Tax benefits
Accidental death benefit
Flexible premium payment terms
Critical illness benefit
Maximum sum assured up to 1.5 crores
Special premium discounts for women and non-smokers
Solvency Ratio
2.5
Claim Settlement Ratio
99.73
Annual Premium
430.91 Cr
Branches
150
Bandhan Term Insurance Plans
Bandhan Term Insurance offers you multiple term insurance plans based on the features, benefits, and
eligibility criteria. Here are some of the term plans offered by Bandhan Term Insurance.
Bandhan Life Saral Jeevan Bima is a pure protection, simple, and easy to understand plan that offers a death benefit to your nominee in case of your demise. The plan comes with flexible premium paying terms and modes so that you can choose the best option for yourself.
Bandhan Life iTerm Comfort Term insurance is a pure protection plan offered by Bandhan Life Insurance. It offers a guaranteed lump sum payout as a death benefit in case of the unfortunate demise of the life insured during the policy term.
Bandhan Life i-Term Prime is a comprehensive term insurance plan which offers life coverage along with inbuilt critical illness and accidental death benefit cover.
Here are the key features of the above plan
Affordable premiums
High sum assured rebate.
A limited premium payment term of 2/3rd of your policy term.
Enhanced coverage with rider benefits.
Explore other Bandhan Term Insurance
Bandhan Term Insurance offers one of the best term insurance plans to cater to the unique needs of every customer. You can buy their term plans with high life cover at pocket-friendly costs. Get a 5% discount for online purchases and 100% claim assistance with Bandhan Term Insurance plans. Below is the list of term plans offered by Bandhan Term.
Bandhan Life Saral Jeevan Bima is a pure protection, simple, and easy to understand plan that offers a death benefit to your nominee in case of your d...
Unique Features
Flexible premium payment term
Affordable premiums
Tax benefits
Bandhan Life Saral Jeevan Bima (Pros)
Flexible premium payment term
Affordable premiums
Tax benefits
Bandhan Life Saral Jeevan Bima (Cons)
1 year WP for suicide
No policy loan
No pre-existing illness cover
Bandhan Life Saral Jeevan Bima (Other
Benefits)
Hassle-free buying process
Tax benefits
Riders availability for enhanced protection
Bandhan Life Saral Jeevan Bima (Eligibility
Criteria)
Bandhan Life iTerm Comfort, from Bandhan Life Insurance Company, is a pure protection plan that offers a guaranteed lump sum payout in the event of yo...
Bandhan iTerm Prime Plan is a pure protection term insurance plan that comes with affordable premiums. The plan has a minimum sum assured of 25 lakhs ...
Unique Features
Affordable Premiums
High Coverage
Riders Available
Bandhan Life i-term Prime (Pros)
Bandhan Life Women CI Rider
Bandhan Life CI Care Rider
Bandhan Life WoP Rider on CI
Bandhan Life i-term Prime (Cons)
No Maturity Benefit
No Loan Allowed
Policy Terminates Post Payment of Death
Bandhan Life i-term Prime (Other
Benefits)
Surrender Benefit
Inbuilt Terminal Illness Benefit
Life Coverage Till the Age of 100 Years
Bandhan Life i-term Prime (Eligibility
Criteria)
Entry Age -18 Years
Max Entry Age- 65 Years
Minimum Sum Assured - 25 L
Maximum Maturity Age - 100 Yrs
Premium Payment Term - SP
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Riders You Can Avail With Bandhan Term Insurance Plans
Bandhan Term Insurance plans offer riders or add-ons that enhance the scope of your insurance coverage. Riders are extra benefits that can be added to your base policy at an additional cost, which is generally very minimal. In this section, we will discuss the riders available with Bandhan Life Term Insurance plans in points:
Name of the Rider
Benefits
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.
Benefits of Bandhan Term Insurance
Bandhan Term Insurance is one of the most trustworthy and reliable insurer partners you can choose from. Here
are the reasons why you should choose Bandhan Term Insurance Plans:
Financial Security
In case of unforeseen demise of the life insured during the policy term, Bandhan Life Term Plans offer guaranteed death benefit to the nominee.
Affordable Premiums
Bandhan term insurance plans provide extensive coverage at affordable premiums, ensuring your family's complete protection without straining your finances.
High Coverage Amount
Bandhan Life Term insurance policies offer a high coverage amount, which can range from a few lakhs to several crores of rupees.
Term insurance policies offer flexibility in terms of the policy term, coverage amount, and riders. You can plan your term insurance as per your needs.
Eligibility Criteria of Bandhan Term Insurance Plans
To purchase a Bandhan term insurance plan in 2025, certain eligibility criteria must be met. Let's understand the eligibility criteria in detail.
Age: A person between the ages of 18 and 65 is eligible to apply for a term life insurance plan. The policyholder’s age is a key factor in the term insurance plan’s premium.
Health condition: Since a Bandhan term insurance plan insures the policyholder’s life, most insurance providers require a policyholder to undergo a health examination to determine the current health condition and the inherent risks for the insurer. Be completely honest about your health condition and medical history to avoid issues during claim settlement.
Income: An Bandhan term insurance plan has no specified minimum income requirement. However, they might ask you for your bank statement copies and salary slips to determine the coverage on your term plan.
Smoking habits: If you smoke or have been a smoker in the past, you must disclose this information to the insurer. It is because smokers are exposed to severe health hazards like lung cancer.
Citizenship: Indian citizens can buy a Bandhan term insurance plan in India in their name. However, NRIs or PIOs can also leverage the benefits of a term insurance plan in India.
Additional Benefits Offered By Bandhan Term Plans
Bandhan Life Term Insurance Plans offer various additional benefits to the policyholders.
Flexible-Premium Payment Term
Bandhan Life term plans offer flexible premium payment terms ranging from 10-15 years for limited term and 60 years for regular term.
Smart Exit Option
Some Bandhan Life term insurance plans provide an option to exit your policy and get all your premiums back.
Maturity Benefit
Bandhan Life term plans, such as iTerm Comfort, allow you to get all the premiums paid back as maturity benefits.
Choice of Policy Tenure
Bandhan Life term plans allow policyholders to choose the policy tenure that best suits their needs.
5% Discount on Premiums
Bandhan Life term insurance offers a 5% online discount on the first-year premiums to its customers.
Types of Bandhan Life Term Plans
There are a plethora of Bandhan Life Term Plans based on their features, benefits, and premiums. You can select the one that best suits your requirements.
Basic Term Plan
Plan Name: Bandhan Life Saral Jeevan Bima
This plan only provides a death benefit to the nominee and comes at an affordable cost. No maturity benefit will be given.
Term Plan With Accidental Death Benefit Cover
Plan Name: Bandhan Life i-Term Prime
This plan offers inbuilt coverage against accidents, disability, and death.
Term Insurance With Affordable Premiums
Plan Name: Bandhan Life iTerm Prime
This plan offers affordable term insurance coverage along with flexible policy terms.
Term Plan with Critical Illness Cover
Plan Name: Bandhan Life i-Term Comfort
This plan offers inbuilt coverage against critical illnesses.
Documents Required to Buy Bandhan Life Term Insurance
Here are the documents required to buy Bandhan Life Term Insurance:
Photo ID Proof
Age Proof
Address Proof
Medical Records
Income Proof
Photo ID Proof
Photo ID Proof (either of one) - Passport, Aadhaar card, PAN card, Driving License.
Age Proof
Age Proof (either of one) - Passport, Aadhaar card, PAN card, Driving license.
Income Proof ( either of one) - bank statement, last three months' salary slips (if you are salaried).
How to Buy a Bandhan Term Insurance Plan?
You can buy the Bandhan Term Insurance policy from Policyx.com or the Bandhan Term Insurance website.
Step 1
Fill out the form at the top of this page with the necessary details.
Step 2
Select your income and city. Click on 'Proceed'.
Step 3
Update your education and occupation details.
Step 4
Choose your preferred plan and click on 'Buy this plan'.
Step 5
Select the policy term, premium period, and riders (if required), and then proceed to make the payment.
Step 1
Visit the official website of Bandhan Life Insurance Company.
Step 2
Click on ‘Buy Term Plan' on the navigation bar and select ‘Term Insurance Plans'.
Step 3
Click on the ‘Buy Now' button and fill in the required details.
Step 4
Tap on 'Next' and select a plan as per your requirements.
Step 5
Select the cover option you want and make your payment.
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 Singh
I 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 varshney
I'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 Mary
I 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 Shah
PolicyX 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 Rathod
I 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 Mahajan
How to File a Bandhan Life Term Insurance Plan Claim
Filing a claim for Bandhan Life Term is a simple and hassle-free task. You can easily fill and submit their claims online or offline. To file a claim for the Bandhan Term Plan, you need to follow the below-mentioned steps.
Online Process
1
Claim Reporting
Inform the company about the incident via any of the channels- by writing an email at customer.care@bandhanlife.com, calling the toll-free number (1800-209-9090), filling out the online claim form on its website, or visiting the nearest branch.
2
Claim Review
Bandhan customer support staff will review your claim form and will assist you at every step. Their staff will next evaluate your claim and notify you if any papers are still pending.
3
Claim Approval and Settlement
After receiving all the documents and claim forms, the company will verify the details as per their norms. On successful completion, the claim will be settled and the amount will be transferred to the nominee's bank account and the same will be communicated to him/her over a call or an email.
Offline Process
You can submit your Bandhan Life Insurance claim by visiting one of Bandhan Life Insurance's branch offices. For the details of Bandhan Life Insurance branches, you can visit their website and locate the nearest branch. You have to submit the essential documents at the branch so that your claim can be processed.
More Queries?
If you have any more queries regarding Bandhan Term Insurance Plans,
Renewals, or Claim Procedures, contact our insurance experts at: 1800-4200-269 now!
FAQs: Bandhan Term Insurance
1. What is the claim settlement ratio of Bandhan Life Term Insurance?
The claim settlement ratio of Bandhan Life Term Insurance is 99.3
2. What is the minimum age to purchase Bandhan Life Term Insurance?
The Minimum age to purchase Bandhan Life Term Insurance is 18 years.
3. Does Bandhan Life Insurance have an all-India Presence?
Yes, Bandhan Life Term Insurance have an India Presence with more than 150+ plus branches.
4. How much free-look period is available in Bandhan Life Term insurance?
Bandhan life insurance offers 30 days of free-look period.
5. Can I view my Bandhan Life term insurance in the mobile app?
Yes, you can view your Bandhan Life Term Insurance status on the PolicyX.com mobile app, along with Badhan Life Term Insurance.
6. Is Aegon life insurance good?
Bandhan Life (earlier known as Aegon Life Insurance) is one of the best life insurance companies in India.
7. What are the benefits of Bandhan Life term plans?
Bandhan Life term plans offer a range of benefits, including affordable premiums, flexible policy tenure, choice of sum assured, tax benefits, etc.
8. What are the term plans offered by Bandhan Life Insurance?
Bandhan Life Insurance offers various term plans, including Saral Jeevan Bima, iTerm Prime, and iTerm Comfort.
9. Is Bandhan Life Insurance safe?
Yes, Bandhan Life Insurance is one of the best life insurance companies approved by IRDAI to sell life insurance plans in India.
10. How to buy Bandhan Life term insurance?
You can buy Bandhan Life term insurance plans either from PolicyX.com or the official website of Bandhan Life.
11. Can I avail myself of additional riders with my Bandhan Life term plan?
Yes, you can avail yourself of additional riders with your Bandhan Life term insurance policy.
12. What is the old name of Bandhan Insurance?
The old name of Bandhan Life Insurance is Aegon Life Insurance.
Himanshu is a seasoned content writer specializing in keeping readers engaged with the insurance industry, term and life insurance developments, etc. With an experience of 2 years in insurance and HR tech, Himanshu simplifies the insurance information and it is completely visible in his content pieces. He believes in making the content understandable to any common man.
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