The Bandhan Life iTerm Comfort plan is a Non-Linked, Non-Participating, Pure Risk Term Insurance Plan that focuses on providing a substantial lump sum death benefit to the nominee. Positioned for budget-conscious buyers, its main draw is its simplicity and the inclusion of the Special Exit Value (SEV) feature.
The SEV allows the policyholder to voluntarily surrender the policy at a pre-defined age (typically 55) and receive a full refund of all base premiums paid. This mitigates the common “money gone” perception of pure term plans. Although it’s a relatively simple plan, it does offer essential protection enhancements through riders.
Quick Overview: Bandhan Life iTerm Comfort Review
| What’s Good? | What’s Not Good? |
| Special Exit Value (SEV): Receive 100% of base premiums paid back upon voluntary surrender at age 55 (subject to entry age and policy term conditions). | No Limited Pay Option: Premiums must be paid regularly for the full policy term (Regular Pay only). |
| High CSR: Bandhan Life maintains a high 99.73% Claim Settlement Ratio (FY 2024-25), indicating strong reliability. | No Payout Customization: Death Benefit is paid only as a Lump Sum. No option for monthly income or a combination payout. |
| Riders Available: Offers riders for Critical Illness (36 illnesses) and Accidental Death Benefit (ADB). | No WOP for CI: The Critical Illness rider generally does not include an in-built Waiver of Premium (WOP) benefit. |
| Affordability: Premiums are highly competitive due to the plan’s pure protection and lower administrative overhead (Online). | No Increasing Cover: No option to automatically increase the Sum Assured to keep pace with inflation. |
| Maximum Maturity Age: Available up to age 70 years. | Complaints: Research indicates a higher number of grievances regarding the policy purchase and claim settlement process compared to top-tier peers. |
Pricing and Insurer Track Record
This reflects the company’s financial strength and efficiency in settling claims.
| Detail | Bandhan Life Insurance Company Limited (Formerly Aegon Life) |
| Founded in | 2008 (Acquired by Bandhan Financial Holdings in 2023) |
| Claim Settlement Ratio (FY 2024-25) | 99.73% (Individual Death Claim Paid Ratio) |
| Solvency Ratio (FY 2023-24) | 269% (Well above IRDAI mandate of 150%) |
| Maximum Maturity Age | 70 years |
Detailed Product Overview
The Bandhan Life iTerm Comfort is designed to provide long-term protection, typically until age 70. The core functionality is straightforward: a lump sum is paid upon death. However, the most distinctive appeal lies in the Special Exit Value (SEV).
The SEV allows the policyholder to surrender the policy once after attaining the age of 55 (and within one year of that birthday). Upon surrender, the policyholder receives 100% of the total base premiums paid (excluding taxes and rider premiums). This feature is particularly useful for policyholders who anticipate their major liabilities (like mortgages or children’s education) ending by the time they reach their mid-50s. .
It is important to note the plan’s limitations in flexibility. It only offers a Lump Sum payout and does not include Limited Premium Payment Term (LPPT) options, requiring the premium to be paid regularly for the entire term.
At A Glance
| Product Benefit | Feature Details (Bandhan Life iTerm Comfort) |
| Product Type | Non-Linked, Non-Participating, Pure Term Plan |
| Coverage Term | Flexible terms, up to a maximum maturity age of 70 years. |
| Death Benefit Payout | Lump Sum only (no monthly income option). |
| Special Exit Value (SEV) | 100% of Total Premiums Paid back on voluntary surrender at age 55-56 (subject to T&C). |
| Premium Payment Term (PPT) | Regular Pay only (same as the policy term). |
| Riders Available | Bandhan Life Accidental Death Benefit Rider; Bandhan Life Critical Illness Rider (36 illnesses). |
| Tax Benefits (80C/10(10D)) | Premiums eligible for deduction under 80C; Death benefits are fully tax-exempt. |
| Terminal Illness | Not an inbuilt feature (check latest policy documents for updates). |
| Loan Facility | Not available under this policy. |
Frequently Asked Questions
1. What is the Bandhan Life Special Exit Value (SEV) feature?
The Special Exit Value (SEV) is a feature that allows the policyholder to voluntarily exit the policy between the age of 55 and 56 (subject to conditions) and receive a refund of 100% of the total base premiums paid to date.
2. Does the Bandhan Life iTerm Comfort plan include a Critical Illness (CI) Rider?
Yes, the plan allows the purchase of the Bandhan Life Critical Illness Rider as an add-on, which covers up to 36 specified critical illnesses and pays a lump sum benefit upon diagnosis.
3. What is the Bandhan Life Claim Settlement Ratio (CSR)?
Bandhan Life Insurance (formerly Aegon Life) maintains an impressive Claim Settlement Ratio (CSR) of 99.73% (FY 2024-25), indicating high reliability in paying claims.
4. Can I buy iTerm Comfort with a Limited Premium Payment Term (LPPT)?
No. The Bandhan Life iTerm Comfort plan requires Regular Premium payment, meaning the premium must be paid every year for the duration of the policy term. LPPT options are not available.
5. Is the Critical Illness Rider payout additive or accelerated?
The Critical Illness Rider payout is additive (paid in addition to the base Sum Assured), but the base plan does not include a Waiver of Premium (WOP) benefit for CI diagnosis.
6. Can I take a loan against my policy?
No. As a pure term insurance plan, the policy does not acquire a surrender value sufficient for a loan, and therefore, a loan facility is not available.
7. Does the plan offer Whole Life Cover?
No, the maximum maturity age for the Bandhan Life iTerm Comfort plan is 70 years, meaning it does not offer Whole Life Cover up to age 99 or 100.
8. Can the nominee choose to receive the death benefit as monthly income?
No. The death benefit is paid only as a Lump Sum. There is no option to convert the claim payout into monthly income installments.
9. What are the conditions for exercising the Special Exit Value?
The SEV is typically available only if the policyholder purchased the policy at age 40 or below and chose a policy term that matures at age 70 or later.
10. Does the policy offer any premium discounts?
Yes, the plan often offers a discount on the premium for online purchases and for non-smokers.
Important Disclaimer & Disclosure
Please Read Before Proceeding: The information provided in this blog post about Bandhan Life iTerm Comfort is for informational and educational purposes only. This content is based on our interpretation of policy brochures and market research as of November 2025.
- Not Financial Advice: This is not insurance or financial advice. Always consult with a certified financial advisor or insurance expert before making any purchase decisions.
- Policy Wording is Final: Features, limits, premium rates, exclusions, and benefits are subject to change. The final, legally binding terms and conditions are those stated in the official Policy Wording document issued by the insurer. Please review this document thoroughly before committing to a plan.
- Tax Disclaimer: Tax benefits are subject to changes in the Income Tax Act, 1961. Consult a qualified tax professional to confirm current tax implications for your specific financial situation.
