Bandhan Life Insurance FAQs

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.

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.

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.

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

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.

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

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.

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.

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.

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.

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

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.

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.

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.

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.

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.

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

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

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.

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