Bandhan Life Insurance Overview & Details

Bandhan Life Insurance Company of India Limited was first established as Aegon Life Insurance in July 2008 before purchasing Bandhan Financial Holdings in March 2024 and becoming one of the top companies offering financial services across India. Over three financial years 2022-22-23, it achieved an outstanding claims settlement rate (CSR) of 99.4 percent. Customers appreciate Bandhan Life’s efficient claims processing as it offers comprehensive life and term programs tailored specifically for different needs and circumstances.

About Bandhan Life Insurance

Bandhan Life Insurance is one of India’s top insurance companies that offer savings, life wealth, retirement plans that can meet requirement. Their impressive claim settlement ratio of 99.4 percent is an unbeatable provider to ensure your financial security – whether safeguarding your family’s wellbeing and building wealth or planning for the future in the years to come – Bandhan provides reliable options which are for sure to satisfy your needs!

Why Buy Bandhan Life Insurance Plan?

You should consider Bandhan Life Insurance for these factors:

• financial Security for Your Family: Bandhan Life Insurance plans ensure your family’s financial protection in the event that you become sick or die. It helps loved ones maintain their life as they pay off their bills and complete their long-term objectives like the pursuit of education or retirement.
• Different Coverage Options: Bandhan Life Insurance provides a wide range of insurance products to meet various needs and stages of life. If you’re looking for basic protection by way of term insurance, or investments for growth in wealth or complete coverage using the whole life policy Bandhan provides options to meet your goals in financial terms.
• Guaranteed Returns: In Bandhan Life Insurance savings plans You will receive for sure return when your plan reaches its expiration date. Savings boost when you pay your premiums as well as you have the option to get the entire amount in a lump sum or in regular installments.
• Affordable Prices: Bandhan Life Insurance has low prices, specifically for insurance that is term-based. This allows you to safeguard your family members in the financial sense without spending a fortune.
• Tax Benefits: Selecting Bandhan Life Insurance gives you tax benefits in the Section 80C along with Section 10(10D) of the Income Tax Act, 1961. It helps secure your financial future and save on tax.
• Fast Claim Settlement: Bandhan’s Express Claims service ensures that those who inherit the policy of deceased owners receive payment for claims within 4 hours after notifying the business. It provides fast financial benefit at times when they need it most.

Life Insurance Plans Offered By Bandhan Life Insurance

Bandhan Life Insurance offers various types of life insurance plans, including:

1. Term Insurance Plans
2. Savings Plans
3. Group Plans
4. Other Plans

Bandhan Term Insurance Plan Details

Term Plan	Entry Age	Maturity Age	Sum Assured
Bandhan iTerm Prime Plan	18 to 65 years	70 years	Rs. 25 Lakhs to No Limit
Bandhan iTerm Comfort Plan	18 to 65 years	70 years	Rs. 25 Lakhs to Rs. 1.25 Crores
Bandhan Saral Jeevan Bima Plan	18 to 65 years	70 years	Rs. 5 Lakhs to Rs. 25 Lakhs

Bandhan ITerm Prime approach

This plan offers comprehensive financial security for your family members, even if you are not there. It comes with extra benefits such as catastrophic illness and accidental death protection, and various payment options that can be used annually as well as half-yearly or monthly. This plan offers a limited number of payment options for the key milestones in life, namely ages 10, 15 and 60.

Bandhan’s iTerm Comfort Strategy

It ensures the policyholder with a life-insurance payout in case of the event of a policyholder’s unexpected death. It also include critical illness and accident death riders to provide extra security. Premiums can be repaid by half-yearly, monthly, or annually, and have additional tax-savings under the current law. Lastly.

Bandhan Saral Jeevan Bhima Strategy

This plan offers a large life insurance policy for a reasonable cost, and the choice of payment terms that are tailored to one, limited or even regular installments. The plan comes with the feature of waiting for 45 days in which the amount assured will be paid in the event of an accidental deaths, and non-accidental death outcome in a complete refund of premiums incurred. In addition, the policyholders gain tax advantages in Sections 80C as well as 10(10D) in accordance with the laws in force.

Related read: Max Life Insurance: Eligibility, Plans, Documents & More

Bandhan Savings Plan Details

Term Plan	Entry Age	Maturity Age	Sum Assured
Bandhan iGuarantee Max Savings Plan	3 months to 50 years	70 years	As per T&C

Bandhan iGuarantee Max Savings Plan

The Bandhan iGuarantee Max Savings Strategy provides many advantages to the policyholder. If there is a tragic event that outcome in the loss of a policyholder’s life the beneficiary is covered by a life insurance policy that provides that they have financial security for family members. Furthermore the for sure payment is made to the owner of the policy upon maturation of the policy, giving security in the event of a financial loss.

This plan can be adapted with premiums that can be paid out monthly, semi-annually or every year, and with the choice of regular or restricted time frames for payment. In addition, the policyholders are eligible for tax-free benefits under the current legislation that are part of the Income Tax Act, 1961 which makes it an all-inclusive savings plan.

 Bandhan Group Plan Details

Term Plan	Entry Age	Maturity Age	Sum Assured
Bandhan Group Care Micro Insurance Plan	18 to 69 years	70 years	Rs. 1 Thousand to Rs. 2 Lakhs
Bandhan Group iCredit Insurance Plan	18 to 69 years (14 years for education loan option)	80 years	Min: Rs. 5 Thousand Max: Insurer T&C
Bandhan Group Credit Safety Insurance Plan	18 to 69 years (14 years for education loan option)	80 years	Min: Rs. 5 Thousand Max: Insurer T&C

Bandhan Group Care Micro Insurance Plan

Bandhan Group Care Micro Insurance Plan Bandhan Group Care Micro Insurance Strategy provides a customized financial security for death, terminal disease, or accidental death. The plan allows you to choose the value of your insurance in either decreasing or level or decreasing, and is appropriate to be used in credit protection programs. In addition, it allows you to pick your preferred monthly premium and payment frequency which makes it easy to purchase.

Bandhan Group iCredit Insurance Plan

The Bandhan Group iCredit Insurance Strategy includes critical illness, death (including 36 illnesses) as well as accidental death as well as disabilities. It’s ideal for ensuring loans if you’re unable to pay them because of a insured event. It allows for flexibility with beneficiary amounts and is aligned with the balance of your loans, as well as jointly covered coverage that protects the individual and a couple.

Bandhan Group Credit Safety Insurance Plan

Finally, the Bandhan Group Credit Safety Insurance Strategy offers comprehensive insurance, that covers terminal illnesses, death and critical illness, as well as accidental death, as well as total or permanent impairment. It covers a range of loan types, such as micro business, personal and education as well as home loans. The plan also offers freedom in deciding on the sum guaranteed (level or diminishing) as well as the duration of coverage. It also offers the feature of coverage for individual and joint lives.

Bandhan Other Plan Details

Term Plan	Entry Age	Maturity Age	Sum Assured
Bandhan Akhil Bharat Term Plan	18 to 45 years	55 years	Rs. 50 Thousand to Rs. 5 Lakhs

The Bandhan Akhil Bharat Term approach allows you to choose the duration of your coverage that allow you to select the policy duration of 5 10, 7, or 5 years, according to your requirements. Additionally, it offers various payment options that allow customers to cover their insurance premiums in a manner that is appropriate to your budget. The process of applying for insurance is easy and fast, without pre-requisite medical examinations which makes it simple to be insured. A key exception is when the policyholder dies within the first 12 months after purchasing the policy, then the death benefit is not due to the beneficiary.

Related read:- Aviva Life Insurance Overview & Details

Final Thought:

Bandhan Life Insurance stands as an excellent choice to protect your financial security. With its wide range of plans for life insurance along with its competitive rates and an astounding claim settlement ratio of 99.4 percent, Bandhan Life Insurance ensures that your loved relatives are adequately protected. You may be looking to protect the financial security of your loved ones, ensure security and build wealth or prepare for the future, Bandhan Life Insurance offers different options to suit the needs of your particular situation. 

If you select Bandhan the company, you’re choosing an insurance company that is committed to ensuring assurance and financial safety, and backed by a experience of superior customer service and claim processing.

Frequently asked questions: