Bandhan Life iTerm Prime

In simple words, life insurance is a financial promise between the life insurance company and the buyer of a life insurance policy (known as the policyholder). As per the promise, the policyholder pays the company an affordable fixed amount called 'premiums', for a fixed period of years. The period is called the ‘policy term’.

If life throws a curveball, and you're no longer there to provide for your family, due to a permanent disability or your unfortunate death, the insurance company steps in to fulfil its promise, handing your family a financial cushion - the 'Sum Assured'.

This is not just money; it's a continuation of your care for them, ensuring they can maintain their lifestyle and pay off loans, even in your absence. And guess what? Some policies even come with a parting gift at the end of the term, called the 'Maturity Benefit'. Discover more about the nuances of life insurance in our ultimate guides to buying insurance part 1 and part 2.

Selecting the perfect life insurance plan is like picking the best umbrella before a storm. It's a three-step breeze:

• Step 1: Sketch out your dreams - whether it's leaving a robust financial legacy for your family, clearing debts, funding your child's education, or creating a corpus for the future.
   
• Step 2: Decide on a premium that fits perfectly into your budget.
   
• Step 3: Pick a policy that aligns with your plan.

Here's a tip: aiming for a life cover that's 10 times your annual income is like hitting the bullseye. And you'll be surprised at how affordable these plans can be!

All our products and policy contracts are pre-approved by IRDAI . Our claim settlement ratio is 99.73%; and over 3 lakh customers trust us for their insurance needs.

We believe in our duty towards helping you and your family to get through tough times. In 2024-25, we settled 99.73% of the total claim requests that we got.