Privacy Policy

"Bandhan Life", "We" refers to Bandhan Life Insurance Limited. (Formerly Aegon Life Insurance Company Limited)
"You", "Your", "Users" refer to the person accessing the website in any capacity.
"Website" refers to Bandhan Life.
"Services" refers to all services made available by Bandhan Life through its website.
We keep our privacy policy under regular review. This privacy policy was last updated on Oct 2023.

Protecting your personal data

At Bandhan Life, we are committed to protecting and respecting your privacy. This privacy statement details how Bandhan Life processes your personal data as you provide it to us on this website. We want you to be confident that your information is in safe hands.

Why do we use personal data?

Bandhan Life collects the personal data you provide on this website to help us ensure that the website operates correctly, we can better tailor the website to your needs, and make the site easier to use. We also compile anonymous, aggregated statistics that allow us to understand how visitors use https://www.bandhanlife.com and to help us improve the structure of the site.

Data Collection

The type of personal information we process about you will depend on the type of product, service or interaction we have with you, but could include the following. This list is non-exhaustive:

Most personal information we collect relates to the individuals who take out a product with us. However, in certain circumstances we may obtain some personal information about other individuals.

Example for:

a beneficiary you nominate for your product;
a family member or friend you authorise to make enquiries about your product on your behalf;
parents and/or grandparents of a minor for whom a product has been taken out;
potential beneficiaries, in the event of a death, so we can determine who we should pay any funds to;
any legal personal representatives (where applicable);
an ex-spouse in relation to a pension sharing order or pension attachment order;
the trustee where death benefits are paid to a trust, and anyone holding a lasting power of attorney or similar.
 

We’ll process their personal information in accordance with this Privacy policy.

Our data security policies mean that we hold all personal information securely and limit access to those who need to see it in line with our obligations under applicable legal and regulatory requirements. We apply extra security and as per applicable regulatory requirements to more sensitive personal information, such as medical details, Aadhar and PAN which are required to process the products you may opt  to purchase.

Sensitive personal information

There will be occasions where we’ll ask for (or receive) sensitive personal information, also known as special categories of personal data. This interalia consists of information relating to:

Health (for example, a medical condition)
Racial or ethnic origin
Religious beliefs
Biometric data
Sex life or sexual orientation
The most common types of sensitive personal information we process are:

Health information: this could include information contained within medical reports, test results, details of your physical and/or mental health condition (previous and existing), medication prescribed to you, medical diagnoses, details of any treatment plans, personal behaviours, such as alcohol consumption and smoking (where applicable)
We apply extra security around this type of information as we appreciate that due to its very nature, it would likely cause significant harm or distress if mistreated.

How we obtain the personal information

You or someone representing you, for example, your intermediary or financial adviser, will provide us with personal information about you. Where you are a member of a workplace pension scheme, we’ll receive information about you from your employer.

We may obtain information about you via application forms (including claim forms), both paper-based and online, or by phone, email, social media tools or otherwise.

You can find additional information on the more common ways we capture your personal information below:

We may also obtain personal information from third party sources, such as:

Service providers who help us to maintain the integrity and accuracy of our data;
Credit management companies who are acting on your instruction;
Credit reference agencies;
Healthcare providers and medical practitioners;
Comparison websites that you’ve used to look into specific products that we sell; 
Other pension providers to facilitate transfers to or from us;
Parties you’ve instructed to act on your behalf, for example, a family member or solicitor who is acting under a power of attorney, as well as accountants, lawyers and other professional service firms that you’ve given authority to;
Government agencies and bodies,
where Bandhan Life acquire another organisation that holds your information.
 

How we use personal information

We have listed below the ways in which we will use the personal information that we collect:

Please see additional information below on some of the uses.

Profiling and data analysis

We may use some of your data to conduct profiling and data analysis to build, train and audit models and algorithms that help us to:

understand our customers better to enable us to develop products and services that most appropriately meet their needs;
ensure we present the most appropriate content to customers, and
identify instances where customers may require additional support.
We use various data types to conduct profiling and analysis and with all activities involving your information, we’ll only do this where the law allows us to.

Marketing consent and updating your preferences

If you’ve given us your consent, we may use the information we’ve collected about you to send you marketing offers and news about our products and services using various channels such as mail, phone, email and SMS. We won’t send you any direct marketing unless you’ve expressly opted in to receiving these types of messages from us.

We’ll ask for your consent when you apply for a product with us through the application process or when you register online. You can remove your consent or update your preferences at any time by sending an email to customer.care@bandhanlife.com

We won’t sell your personal information to other organisations for a marketing purpose.

We aim to limit the marketing materials that we send to you and will only send you offers or promotions that we believe you may be interested in.

Even where you opt out of marketing, we’ll still send you servicing communications and documentation relating to your product of which we have a legal duty to provide to you. You may also see generic advertising displayed on our website.

Cookies and similar technologies

We may use cookies and other similar tracking technologies on our website. We won’t use cookies to collect information that could personally identify you.

We will use cookies to:

help us understand how our websites are used on an aggregated (not individual) basis, so we can improve them for you
provide an enhanced user experience for you
provide services that are necessary for the running of the web
By using our site, you agree to these cookies being set, but you're free to change your browser settings if you want to delete or block these.

On first visit to our websites, an information box will be displayed advising that cookies are in use, with links to our privacy policy and this cookie information page.

Sharing your personal information

We’ll share personal information with selected service providers that carry out certain functions on our behalf. These include companies that provide services such as:

Administration of our products.
Technology services, including IT administration and support, software vendors, testing and production support, platform providers.
Management of both inbound and outbound communications and scanning of correspondence.
Providers of marketing, research or advertising services.
Banking and payroll services.
 

For those organisations that are carrying out services on our behalf, we’ll only share information where we have a lawful basis for doing so, as described above. We’ll only share with them the appropriate level of personal information necessary to enable them to carry out the service.  We contractually require all our service providers:

to keep the information safe and protected at all times, and
to only act on our explicit instructions and not use the data for their own purposes, unless it has been suitably anonymised so it’s no longer personal information.
 

Security

We’ve put security policies, rules and technical measures in place to protect the personal information that we have under our control from:

unauthorised access;
improper use or disclosure;
unauthorised modification, and
unlawful destruction or accidental loss.
All our employees and service providers who have access to personal information, are obliged to protect it and keep it confidential.

Retention

We keep personal information for as long as is reasonably required for the purposes in which it was collected. We have in place and maintain a retention schedule and regularly review our obligations to make sure we don’t keep personal information longer than we’re legally obliged to.

Grievances or discrepancies

If you believe we haven’t processed your personal information in accordance with our data protection obligations, and that you’ve been affected by this, you can make a complaint by contacting us at customer.care@bandhanlife.com

Please refer GRIEVANCE REDRESSAL POLICY for escalation matrix.