FAQs – Claim Additional Requirement & Nominee Connect Verification

1. Why have I received this email/SMS asking for documents and Nominee Connect.

You have received this communication because we have received a claim notification. To proceed with  processing of the claim, certain additional documents and a mandatory “Nominee Connect” with the Claims Team is required.

2. Is my claim already processed.

No. The claim will be registered only after:

• All required additional documents are received, and
• The video verification with the nominee is successfully completed.

3. What is Nominee Connect and why is it required.

Nominee connect is required to guide nominee for claim process and completion of required documents

4. I am unable to click on the “Schedule Appointment & Connect” link. What should I do.

If the link is not clickable or not opening:

• Please try opening the link using another browser (Chrome/Edge/Safari).
• Ensure you have a stable internet connection.
• If the issue continues, take a screenshot of the error and share it with the Claims Team at claims@bandhanlife.com  for further assistance.

5. I entered my name, email ID and  mobile number but the link is not working after submission.

This may happen due to a temporary technical issue or session timeout.
Please:

• Refresh the page and try again after some time.
• Ensure all details are entered correctly.
• If the issue persists, share the error screenshot with the Claims Team at claims@bandhanlife.com  so they can resolve it.

6. The link says it has expired. What does this mean?

The link may expire if:

• It was not used within the allowed time, or
• The session timed out.

In such cases, please contact the Claims Team at claims@bandhanlife.com to request a fresh video verification link.

7. Can I submit documents without completing Nominee Connect.

Documents can be submitted; however, claim processing will not be completed until both:

• Required documents are received, and
• Video verification is successfully completed.

8. What happens after Nominee Connect is completed successfully.

Once nominee connect is completed and all additional documents are received:

• Further processing will be initiated by the Claims Team

9. Will I get confirmation after completing Nominee Connect.

Yes. After successful Nominee Connect and document submission, you will receive further communication from the Claims Team regarding the next steps.

Freelook FAQ

1. When does the Freelook period expire.

• Freelook period is of 30 days (T + 29 Days)

2. How can I cancel my policy under freelook period.

• You can place your request by visiting iAssist
• Logging in to  iAssist   with your registered mobile number and OTP
• Select your policy card
• Click on view policy detail and scroll down and click on 'Cancel policy'.
• The 'Cancel policy' button will be activated on iAssist during the free-look period of 30 days.

Note: This option is not applicable for BANCA policies.

       3. What in case I am unable to login to iAssist for Free look Cancellation.

             You can send us an email:

• Send us an email at customer.care@bandhanlife.com    from your registered email address
• A cancelled cheque or latest bank statement (with your complete name, account number and IFSC printed on it) 
• Self-attested KYC document if you are writing from unregistered email address: Click here    to view acceptable KYC document 

4.   Documents Required if you are writing to customer care or visiting service centre:

• A Request form* Download
• A cancelled cheque or latest bank statement (with your complete name, account number and IFSC printed on it) 
• KYC document: Click here    to view acceptable KYC documents

5. When will I receive my refund after requesting a freelook cancellation.

• Refund upon freelook will be processed in 7 calendar days from the day all requirements are received.

6. Are there any charges applicable while I cancel the policy under freelook.

• On cancellation of the Policy during the free-look period, we will return the policy premium paid subject to the deduction of proportionate risk premium for the period of cover, stamp duty paid and medical costs incurred (if any).

INCREASE & DECREASE IN SUM ASSURED (FAQ)

1. How can policy’s sum assured/ life cover be increased or decreased.

At Bandhan Life, we only accept requests to increase the life insurance cover or sum assured of your policy. It's a good practice to review your life cover at key stages of your life. Here's a blog    that can guide you to make a sound decision about reviewing your life cover.

The increase in sum assured features applies to specific products only. Please refer to your policy document to know the applicability of this feature. 

To increase your life cover at different life stages we would require certain documents such as:

1. Marriage: Documents required:

• Marriage Certificate
• Income Proof (last 3 months' salary slips for salaried individuals, or ITR for the last 3 years with income computation for self-employed individuals)
• Certificate of Insurability (COI)

2. Childbirth:

• • Birth Certificate of Child
  • Income Proof (last 3 months' salary slips for salaried individuals, or ITR for the last 3 years with income computation for self-employed individuals)
  • COI 

3. Applying for a housing Loan (applicable for ALI policies):

• • Loan Sanction Letter and Loan Disbursement Letter, duly stamped by the bank.
  • Income Proof (last 3 months' salary slips for salaried individuals, or ITR for the last 3 years with income computation for self-employed individuals)
  • COI

Click here   to download COI form

Note:  Requests must be submitted within 180 days of the event (marriage, child inclusion, or home loan), and the policy status must be 'In force' at the time of the request.

2. How much time will it take to process the LSBO request.

7 calendar days from the day all requirements are received.

3. How to place the request.

Write to us at customer.care@bandhanlife.com    from your registered email ID or visit our nearest service centre; locate now

• Please note: The addition of any Life Stage Benefit Option will be subject to underwriting decision.
• Self-attested KYC document and consent to update your email address if you submit the request from an unregistered email address. You can get the same updated via iAssist
• You may be asked to undergo a medical examination, if necessary, the company will bear the medical expenses.

  What are the three plan variants  available under Bandhan Life iIncome Wealth

• Early Income, Deferred Income, and Wealth

  What’s the difference between Early and Deferred Income

• Early Income starts payouts from year 1
• Deferred Income starts after premium payment term ends

What is Secure Policy Benefit (SPB)?

• Secure Policy Benefit is a feature that ensures all the benefits selected by the customer remain intact even after his death. These benefits will be paid to the nominee as originally planned or continue to accumulate in the policy, depending on what the customer had chosen. If the customer had opted for accumulation, the nominee can simply add the bank details and withdraw the accumulated amount.

Can a policyholder change the income frequency or payment timing once the policy is issued

• Income frequency can be changed once every 90 days. Income timing must be selected at inception and cannot be changed later.

How does Premium Offset feature work

• If you have paid 3 full years, income can be used to pay future premiums.

What is the Special Income Date option

• In this option customer can pick a date like birthday for annual payouts. This is only for annual income and can’t be used with advance income.

What bonuses can a policyholder get

• Cash Bonus, Revisionary bonus in case of wealth income, Terminal Bonus, or Interim Bonus, depending on the company’s performance.

What happens if a customer stops paying premiums after the first year.

• After 1 full year of payment, the policy becomes "Reduced Paid-Up" with lower benefits. If less than 1 year is paid, the policy lapses.

How does policy revival work

• If your policy has lapsed, you have up to 5 years from the date of lapse to revive it. To do this, you’ll need to pay all pending premiums, and the revival will be subject to the insurer’s underwriting decision (which may include medical checks or documents, if required).

Can a customer take a loan against this policy? If yes, what is the maximum loan allowed.

• Yes, once the policy acquires surrender value. Max loan is 80% of surrender value.

What are the tax benefits available under this plan.

• Tax benefits may be available under Section 80C and Section 10D as per prevailing tax laws.

Are there any additional benefits for female policyholders under this plan

• Yes, women get 1.5% extra added to the Benefit Sum Assured.

What if the policyholder and life assured are different

• Then Secure Policy Benefit is not allowed. SPB works only if both are the same person.

How is the income pay-out date determined in different scenarios

• If the customer has opted for Advance Income, the pay-out date will remain the same as the first payout date, regardless of the premium payment date.
• If the Premium Payment Frequency is the same as the Income Payout Frequency, then the income payout will be processed only after the premium is realized.

Claim FAQ

How does my family claim if I pass away?

The insurance company should be contacted immediately by your nominee. The best aspect is that your nominee can finish the entire procedure online. Our claims team will guide your nominee every step of the way.

What is the claim settlement ratio?

We believe it is our duty to support you and your family during difficult times. We settled 99.66% of the total number of claim requests we received in 2023–2024.

What is the process of registering a Death Claim?

At Bandhan Life, we want to make sure that the claims process is simple, quick, and hassle-free.

Our claim experts examine the submitted documents, and the claim amount is settled so that your loved ones can use the amount when they need it most.

To apply for a claim:

Write to us via email claims@bandhanlife.com

OR visit our nearest Service Centre. Locate Now

How can the claimant check the Death Claim status?

You can write to us at claims@bandhanlife.com

What is the process of registering a Rider Claim?

Modes through which you can place the request:

Email at customer.care@bandhanlife.com   from your registered email ID

Visit our nearest Service Centre. Locate Now

Please note: Self-attest the KYC document and give consent to update email address in case you are submitting the request from unregistered email ID.

How can the claimant check the Rider Claim status?

You can write to us at claims@bandhanlife.com

Can term life insurance claims be rejected?

Yes, if there's fraud or misinformation involved. Always be honest and update your insurer about any changes

Activation Process

How to activate Emandate in the policy?

Customer may visit iAssist https://iassist.bandhanlife.com/login/   to activate auto debit in the policy.

A: To activate Emandate and enable auto debit for your policy, please follow these steps:

1. Visit https://iassist.bandhanlife.com/login/ .
2. Log in using your registered mobile number.
3. Enter the OTP sent to your mobile.
4. Click on “Payment Settings.”
5. Enable auto debit by moving the button from left to right.
6. Choose the payment option “Debit Card/Net Banking.”
7. Click on “Proceed.”
8. Ensure the default payment option (Debit Card/Net Banking) is selected.
9. Check the boxes for “I agree with the terms & conditions” and “I agree to the auto deduction of the renewal premium from the selected mode of payment.”
10. Click on “Proceed to Payment.”
11. Select “Bank Account” and choose either “Debit Card” or “Net Banking.”
12. Enter your bank account details and click on “Authenticate.”
13. You will receive a confirmation that auto debit has been successfully enabled.

Note We offer both Emandate and UPI mandate facilities. Customers can choose either option from the available list.

When I am activating auto debit on iAssist, amount is showing greater than my premium

Please be aware that the maximum amount allowed for auto debit registration is displayed during the registration process. This is a system-generated value and does not reflect the actual amount that will be debited. Be rest assured only your premium will be deducted from your account.

I encounter an error when I try to set up auto debit on iAssist.

If you encounter an error while setting up auto debit on iAssist, please try the following steps:

1. Retry: Attempt to set up auto debit again after some time. The issue might be temporary.
2. Check with Bank: If the problem persists, please contact your bank to ensure there are no issues on their end.
3. Contact Support: If you continue to experience difficulties, please reach out to our customer support team. We will investigate whether the issue is on our end or with the bank.

Starting from us: (Bandhan Life Page)

Note: If issue has been identified on this page. The agent should request a screenshot from the customer before raising the concern.

Note: If the customer continues to face issues beyond this page, they should contact their bank or Razorpay for further assistance.

How to activate CCSI in the policy?

CCSI is not available for renewal. Due to convenience fees Bandhan life discontinued the CCSI option at renewal.

Will my premium be debited on my due date (New auto debit registration cases)

The premium will be auto debited on the due date if the customer has registered for auto debit 8 days in advance.  

What if my premium has not been debited via the registered auto-debit?

If your premium has not been debited, please wait for 48 hours. If the issue persists, customers can manually pay the premium via iAssist or our website.

What if my premium has not been debited via the registered auto-debit after 48 hours from the due date?

If you are calling after 48 hours from the due date and your premium has not been debited,

•  Make a payment manually through iAssist or our website.
• Raise (H2H) request for reason

Deactivation Process

How to deactivate Emandate in the policy?

To deactivate your e-mandate, follow these steps:

1. Visit iAssist .
2. Log in with your registered mobile number.
3. Enter the OTP sent to your mobile.
4. Click on "Payment Options" and then select "Auto Debit."
5. Click the switch button to disable the auto debit.
6. Your e-mandate will be deactivated successfully.

Note: Deactivation via iAssist is permitted only for EBAO policies. For FFA policies, agent has to raise a service request to deactivate the e-mandate.

How to deactivate auto debit on FFA polices

Process-

I encounter an error when I try to deactivate auto debit on iAssist 

If you encounter an error while trying to deactivate auto debit on iAssist, please note the following:

183. 83; For FFA policies: Deactivation via iAssist is not allowed.
184. 83; General Steps:
1. Try again after 30 minutes.
2. If you still face issues, please send a screenshot of the error to customer.care@bandhanlife.com for further investigation.

A manual request will be processed by an agent, with a turnaround time of 10 days. If the due date falls within this request period, please inform the customer that the premium may still be debited from the registered auto debit.

Q1: What is the NFO Launch about?
Ans: We are launching a new Flexi Cap Fund, which will be available for subscription under the product iInvest II Yearly and iInvest Advantage. The fund will have an initial offer price (NAV) of Rs. 10.

Q2: What is the NFO Period for this launch?
Ans: The NFO (New Fund Offer) will be open for subscription from 11th February 2025, to 24th February 2025.

Q3: What does the NAV mean for this NFO launch?
Ans: The NAV (Net Asset Value) for the Flexi Cap Fund NFO will be Rs. 10 during the subscription period. This is the price at which you can purchase units of the fund.

Q4: How can I invest in this NFO?
Ans: You can invest in the Flexi Cap Fund through the following products:

• iInvest II (Yearly premium payment mode)
• iInvest Advantage (all payment mode)
  You can use these platforms to subscribe to the NFO.
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Q5: Can I invest after the NFO period ends?
Ans: Yes, you can invest in the fund, but the NAV will be determined based on market conditions.

Q6: What is a Flexi Cap Fund?
Ans: A Flexi Cap Fund is a type of fund that invests across large, mid, and small-cap stocks. It allows the fund manager to change the investment style based on market conditions, offering flexibility to achieve better returns.

Q7: What happens if I miss the NFO period?
Ans: If you miss the NFO period (from 11th February to 24th February), you can still invest in the Flexi Cap Fund, but the NAV will be based on the market rate, not the fixed price of Rs. 10.

Q8: Will I get a confirmation once I invest in the NFO?
Ans: Yes, after you invest, you will receive a confirmation (SMS/Email) with the details of your transaction and your allotted units. Banca – post money debited, other channel post issuance.

Q9: Can I cancel my investment during the NFO period?
Ans: No during NFO period, Normal Freelook process – post issuance

Q10: Whom do I contact if I have more questions regarding NFO/allocation?
Ans: Customer service

Q11: What is the strategy available for the fund? Lifestyle or Self Managed?

Ans: Currently available in self-managed only

Q12: Existing customer can opt for this fund?

Ans: Fund switch and redirection of fund is allowed however, post 25 and NAV will be basis actual price.

Survival Benefit

1. Where can the survival benefit be viewed in the system.

Steps to Check in the System:

1. Visit Ops Console V2
2. Enter the Policy Number and click "Search"
3. Click on the "Bonus Payout Transaction" tab on the left-hand side of the screen
4. The Survival Benefit amount will be shown under "Payout Amount"

Cash Bonus Payment

2. Where can cash bonus credited information be accessed in the system.

Steps to check cash bonus credited information in the System

1. Visit Ops Console V2
2. Enter the Policy Number and click "Search"
3. Click on the "Bonus Payout Transaction" tab on the left side of the screen.
4. The "Process" status shows the number of payouts processed to date.
5. The "Scheduled" status displays the next payout scheduled for the customer.

Cash Bonus Frequency Change

3) How can a policyholder update cash bonus frequency, and where can this change be tracked in the system?
Ans: The cash bonus frequency can be updated through the iAssist portal or by submitting a manual request.

Steps to Manually Modify Cash Bonus Frequency

1. Visit Ops Console V2
2. Click on the "Quick Links" tab above the search button
3. Enter the Policy Number and click "Search"
4. Select the "Request Module" option
5. Choose the "Request" option under Case Type
6. Select "Minor Alteration Transform" under Sub Case Type
7. Set the Case Reason to "Payout Frequency Switch"
8. Choose "Email" as the Source.
9. Select "After" or "Before" for the Request Time based on the email's received time
10. Add the required comments
11. Select the new Payout Frequency
12. Set the "Requested On" date as the email's received date
13. Click "Submit"

Steps to track changes in the system

1. Visit Ops Console V2
2. Enter the Policy Number and click "Search."
3. Click on the "Service Requests" tab on the left side of the screen
4. The agent can track the switch under the "Service Payout" tab, reflected as "SWITCH_PAYOUT_TYPE"

Cash Bonus Accumulation

3. Where can the accumulated bonus be verified in the system.

Steps to View Policy Accumulation Details:

1. Visit Ops Console V2
2. Enter the Policy Number and click "Search"
3. Navigate to the "Policy Details" tab on the left side of the screen
4. Select the "Payout Details" tab
5. The accumulation type will be displayed under "Payout Type"
6. The total accumulated amount will be shown under "Total Accumulated Amount"

Note:

• Customer can request to process fund withdrawals up to 6 times within a policy year
• The minimum withdrawal amount is ₹2,000, while the maximum is the total accumulated funds
• Withdrawals below ₹2,000 are not permitted

Withdrawing Accumulated Bonus

4. How can a policyholder withdraw their accumulated cash bonus.

Steps to how to withdraw accumulation cash bonus

1. Visit Ops Console V2
2. Click on the "Quick Links" tab above the search button
3. Enter the Policy Number and click "Search"
4. Select the "Request Module" option
5. Choose the "Request" option under Case Type
6. Select "Minor Alteration Transform" under Sub Case Type
7. Set the Case Reason to "Payout Withdrawal"
8. Choose "Email" as the Source
9. Specify the Request Time as "After" or "Before" based on the time the email was received
10. Add the necessary comments
11. Select the "Payout Date" and the "Withdrawal Type"
12. Enter the "Withdrawal Amount".
13. Input the "Withdrawal Date" and "Requested On Date"
14. Click "Submit" to complete the process

 Switching Payout Options

5. What is the process for a policyholder to switch from regular cash bonus payouts to accumulation.

Steps to switch from regular cash bonus payouts to accumulation

1. Visit Ops Console V2
2. Click on the "Quick Links" tab above the search button
3. Enter the Policy Number and click "Search"
4. Select the "Request Module" option
5. Choose the "Request" option under Case Type
6. Select "Minor Alteration Transform" under Sub Case Type
7. Set the Case Reason to "Switch to Accumulation”
8. Choose "Email" as the Source.
9. Select "After" or "Before" for the Request Time based on the email's received time
10. Add the required comments
11. Select the “Accumulation” as new Pay out Type
12. Set the "Requested On" date as the email's received date
13. Click "Submit"

Note:

Customers can submit a switch request once every 90 days, allowing up to 4 requests in a year. However, the customer has approached us 15 days before their scheduled payout date.

For instance, if the next payout is due on December 12, the customer should submit the request by November 28.

Maturity Benefit

6. Where will the maturity benefit of this product be reflected in the system.

Ans The customer will receive the maturity benefit once the Premium Payment Term (PPT) is completed. After completing the PPT, the customer is entitled tthe annualized premium amount, excluding GST.

• If the customer has opted for the accumulation payout, it will be disbursed along with the annualized premium
• If the customer has chosen the cash bonus option, any amount reflecting in the system will be paid at the time of maturity

Policy Loan

7. How can a policyholder apply for a loan under this policy.

Ans The loan process remains unchanged; however, customers can apply for a loan only after the policy has completed one year.

 Policy Surrender

8. What is the process for surrendering the policy, and where can the surrender amount be checked in the system.

Ans The surender process remains unchanged; however, customers can apply for a surender only after the policy has completed one year.

Bandhan Transition: Who is Bandhan Financial Holdings Limited?

We would like to inform you that Bandhan Financial Holdings is a reputed Indian financial services company with commercial banking and microfinancing operations.

Bandhan Transition: Will the name of the Company be changed?

We would like to inform you that as per regulatory approvals, the name has been changed to XXXXXXX.

Please be rest assured the name change will not impact your policy in any way.  Your policy terms, conditions, and benefits will remain intact.

Further the acquisition will not result in any modifications or alterations to your policy due to the name change.

Bandhan Transition: Will the website domain change?

We would like to inform you that our website has been upgraded to XXXXXXXXX (Link of website)

Please be rest assured the domain change will not impact your policy in any way.  Further the iAssist app, and our dial-in numbers will continue to serve as the primary service channels.

Bandhan Transition: What happens to my existing policy?

We would like to inform you that your existing policy remains unchanged. There will be no impact on your policy, and you can continue to enjoy the all the benefits and coverage as outlined in your policy document.

We assure you of the stability and reliability of our services.

Bandhan Transition: Any changes to policy statements?

We would like to inform you that there will be no changes to your policy statements. All policy documents, statements, and

related paperwork will remain the same. You can rely on the accuracy and clarity of your

existing policy statements without any modifications.

Bandhan Transition: What will be the new service channels available?

We would like to inform you that XXXX website, the XXXXX app, and our dial-in numbers will remain active and accessible for customer service.

Please be rest assured in the future, if any new service channels are introduced, we will proactively inform you about them.

Bandhan Transition: Will the partner office also become a new service channel?  

We would like to inform you that XXXXX website, the XXXX app, and our dial-in numbers will continue to serve as the primary service channels. At present, there are no plans to change the partner office into a new service channel.

If any changes occur in the future, we will provide advance notice and keep you informed. 

Bandhan Transition: Will it impact my bonus or funds

We would like to inform you that there will be no impact on your bonus or funds. Our funds are among the highest rated in the industry, and you can continue to benefit from their performance.

We assure you of the stability and reliability of your bonus and funds without any changes resulting from this acquisition.

Bandhan Transition: Any change in corp. and distribution offices addresses? (Physical touchpoints)

We would like to inform you that there will be no change in corporate office addresses. You can continue to interact with us through XXXXX website, XXXXX app, and our dial-in numbers without any interruption in service.

In case of any future changes, we will notify you well in advance.

Bandhan Transition: What impact for customers looking to buy a new policy?

We would like to inform you that there will not be any impact on customers looking to buy a new policy. Our affordable products, simplified buying journeys, and enhanced customer features remain among the most competitive in the industry.

Furthermore, our industry-leading claims settlement process, with a success rate of 99.66%, will continue to provide efficient and reliable service.

Aegon Life is now Bandhan Life!

Aegon Life is entering a new chapter and is now part of Bandhan Financial Holdings Ltd. (Bandhan group) This milestone combines our commitment to innovative insurance with Bandhan's robust financial backing, promising you a future of enhanced services and security.  Your current policies and benefits remain secure and unchanged. We know you might have questions about what this change means for you. Here, address them, ensuring you feel confident and informed.

Welcome to Bandhan Life – where your financial well-being continues to be our priority.

Frequently Asked Questions

Who is Bandhan Financial Holdings Limited?

Bandhan Financial Holdings is a reputed Indian financial services company with commercial banking, asset management, and microfinancing operations which also uses its channels to distribute insurance. It operates through Bandhan Bank Limited, which has its headquarters in Kolkata and is listed on the National Stock Exchange of India and Bombay Stock Exchange. Bandhan Bank serves over 3 crore customers through over 6,000 banking outlets spread across India.

Bandhan Life Insurance is a strategic step into the life insurance sector and this acquisition marks a commitment to bring a diverse range of financial services under one umbrella.

What does the acquisition mean for existing customers?

Your current policy doesn’t get affected in any way and we continue to serve your needs with the same passion and commitment. With the support of Bandhan group, we are better positioned to meet your insurance needs with many more lines of product lines, maintaining our focus on your financial well-being. 

As a customer, will there be any changes to policies issued by Aegon Life?

No, your existing policy and benefits remain unchanged. There will be no impact on your policy, and you can continue to enjoy the all the benefits and coverage as outlined in your policy document and you can be rest assured of the stability and reliability of our services.

Will there be any changes to policy statements?

There will be no changes to your policy statements.

How will the acquisition with Bandhan Financial Holdings enhance the services offered to me?

The acquisition combines our digital innovation with Bandhan’s legacy of trust, aiming to enhance our service quality and offerings. It has opened a new distribution arm for us. In addition to our current channels, Bandhan Life insurance policies will soon be available at the branches of Bandhan Bank. While we will reach out to more people, our core services remain intact, consistent, reliable, and accessible as always.

Will there be any changes in making claims or getting customer support?

The process for making claims and accessing customer support remains unchanged. We are committed to maintaining, and even improving, the efficiency and responsiveness you’ve come to expect from us. Click here to learn how you can initiate a claim.

Are there any changes in premium payments or policy renewal processes?

There are no premium payments or policy renewal process changes. You can continue to manage these your payments and renewals as you have been doing.

How can I access my insurance account and policy details?

You can continue to access your insurance account and policy details just as you always have, through our self-service portal iAssist. Log in to iassist.bandhanlife.com with your registered mobile number and get access to the details of all your policies with us on one platform. You can update your personal details, nominee details, and payment settings using iAssist. All your account information remains secure and easily accessible. Use any of the customer assistance channels below and we’ll be happy to assist you.

• Self-service portal: iassist.bandhanlife.com
• Phone (toll-free): 1800 209 9090 (Mon to Sat, 9 a.m. to 7 p.m.)
• Email: customer.care@bandhanlife.com
• WhatsApp: Send us a ‘HI’ on +91 98674 52226

Who should I contact for assistance or inquiries about my policy during the transition?

Please continue using the existing channels for assistance or inquiries. Our dedicated customer service team remains at your service to address any questions or concerns you might have. You can contact customer care at

Use any of the customer assistance channels below and we’ll be happy to assist you.

• Self-service portal: iassist.bandhanlife.com
• Phone (toll-free): 1800 209 9090 (Mon to Sat, 9 a.m. to 7 p.m.)
• Email: customer.care@bandhanlife.com
• WhatsApp: Send us a ‘HI’ on +91 98674 52226

How will the acquisition impact the company’s commitment to customer service and satisfaction?

The acquisition strengthens our commitment to customer service and satisfaction. We are more equipped than ever to meet your needs ensuring that you continue to receive the high-quality service you're accustomed to.

Will there be any change in corp. and distribution office addresses? (Physical touchpoints)

There will be no change in corporate office addresses. You can continue to interact with us through Bandhan Life's website, the iAssist portal, and our dial-in numbers without any interruption in service. In case of any future changes, we will notify you well in advance.

Will it impact my bonus or funds?

There will be no impact on your bonus already declared or funds. Our funds are among the highest rated in the industry, and you can continue to benefit from their performance. We assure you of the stability and reliability of your bonus and funds without any changes resulting from this acquisition.

What impact for customers looking to buy a new policy?

There will not be any impact on customers looking to buy a new policy. Our affordable products, simplified buying journeys, and enhanced features remain among the most competitive in the industry. Furthermore, our industry-leading claims settlement ratio of 99.37%, will continue to provide efficient and reliable service.

I was in the process of buying an Aegon Life policy. Will there be any impact to my application on account of the name change?

All the features and benefits will remain unchanged, and there is no impact on our policy issuance processes so you do not need to worry. If you have any questions, please reach out to our customer service channels and we will be happy to assist you.

• Phone (toll-free): 1800 209 9090 (Mon to Sat, 9 a.m. to 7 p.m.)
• Email: customer.care@bandhanlife.com

Will new insurance products or services be introduced following the acquisition?

The acquisition strengthens our commitment to customer service and satisfaction. We are more equipped than ever to meet your needs ensuring that you continue to receive the high-quality service you're accustomed to.

CCSI is no longer available for renewal. Bandhan Life has discontinued the CCSI option at renewal due to convenience fees.

 Deactivation Process

How to deactivate Emandate in the policy?

To deactivate your e-mandate, follow these steps:

1. Visit iAssist.
2. Log in with your registered mobile number.
3. Enter the OTP sent to your mobile.
4. Click on "Payment Options" and then select "Auto Debit."
5. Click the switch button to disable the auto debit.
6. Your e-mandate will be deactivated successfully.

Note: Deactivation via iAssist is permitted only for EBAO policies. For FFA policies, agent has to raise a service request to deactivate the e-mandate.

I encounter an error when I try to deactivate auto debit on iAssist.

If you encounter an error while trying to deactivate auto debit on iAssist, please note the following:

• For FFA policies: Deactivation via iAssist is not allowed.
• General Steps:
1. Try again after 30 minutes.
2. If you still face issues, please send a screenshot of the error to customer.care@bandhanlife.com for further investigation.

A manual request will be processed by an agent, with a TAT of 10 days. If the due date falls within this request period, please inform the Customer that the premium may still be debited from the registered auto debit.

To deactivate the auto-debit for an insurance policy registered via UPI, you can follow these steps specific to UPI transactions:

   Open Your UPI App:
   Launch the UPI app (like Google Pay, PhonePe, or Paytm) you used to set up the auto-debit. 

   Navigate to Payments:
   Go to the "Payments" or "Transactions" section of the app.

   Find Auto-Debit Settings:
   Look for an option like "Recurring Payments," "Subscriptions," or "Auto-Debit."

   Locate the Insurance Payment:
   Find the insurance policy entry in the list of recurring transactions.

   Deactivate the Auto-Debit:
   Select the option to cancel or deactivate the auto-debit for that policy.

   Confirm the Cancellation:
   Follow any prompts to confirm the cancellation. You should receive a confirmation notification.

   Check with Your Insurance Provider:
   It’s a good idea to inform your insurance provider to ensure the auto-debit is deactivated on their end as well.

If you encounter difficulties, you may want to contact your UPI app’s customer support for assistance.

A: To activate Emandate and enable auto debit for your policy, please follow these steps:

1. Visit https://iassist.bandhanlife.com/login/ .
2. Log in using your registered mobile number.
3. Enter the OTP sent to your mobile.
4. Click on “Payment Settings.”
5. Enable auto debit by moving the button from left to right.
6. Choose the payment option “Debit Card/Net Banking.”
7. Click on “Proceed.”
8. Ensure the default payment option (Debit Card/Net Banking) is selected.
9. Check the boxes for “I agree with the terms & conditions” and “I agree to the auto deduction of the renewal premium from the selected mode of payment.”
10. Click on “Proceed to Payment.”
11. Select “Bank Account” and choose either “Debit Card” or “Net Banking.”
12. Enter your bank account details and click on “Authenticate.”
13. You will receive a confirmation that auto debit has been successfully enabled.

Note We offer both Emandate and UPI mandate facilities. Customers can choose either option from the available list.

When activating auto debit on iAssist, why does the amount shown exceed my premium?

Please be aware that the maximum amount allowed for auto debit registration is displayed during the registration process. This is a system-generated value and does not reflect the actual amount that will be debited. Only your premium amount will be deducted from your account. You can proceed with confidence, as the correct premium amount will be applied.

I encounter an error when trying to set up auto debit on iAssist. What should I do?

 If you encounter an error while setting up auto debit on iAssist, please try the following steps:

1. Retry: Attempt to set up auto debit again after some time. The issue might be temporary.
2. Check with Bank: If the problem persists, please contact your bank to ensure there are no issues on their end.
3. Contact Support: If you continue to experience difficulties, please reach out to our customer support team. We will investigate whether the issue is on our end or with the bank.

 Bandhan Life Page

Note: If issue has been identified on this page. The agent should request a screenshot from the customer before raising the concern.

Note: If the customer continues to face issues beyond this page, they should contact their bank or Razorpay for further assistance.

Reinstatement FAQ

1. How can a customer revive his lapsed Bandhan Life policy?

You can revive your lapsed policy by logging into our self-service portal iAssist, with your registered mobile number and OTP and clicking on ‘Reactive’ on policy card. OR you can  do it directly on our website by visiting ‘Pay Premium’ under ‘Support’ section.

Steps to revive your policy on Bandhan Life website: 

• Step 1:

• Follow the link Pay now and enter policy number and DOB

• Click on ‘Reactivate’ to revive your lapsed policy.

• You need to fill out a Certificate of Insurability (COI), if applicable as per product T&C—a document that’s required to reverify your eligibility for insurance.
• For Term insurance plan, you can pay your outstanding premium after revival acceptance   
• For savings insurance plan, you can make payment right after filling COVID & COI and then the policy is moved to underwriting for decision.

Step 2:

• Submit your non-medical document on iAssist by uploading in required format.
• Get your medical tests done, if raised by UW (Medical cost to be borne by policy holder for Term policies) 

• Step 3:

• Medical team will connect on your registered mobile number to schedule medical as per your availability.
• A communication will be sent by medical team for advance payment of medical charges.
• You will have to visit allocated medical center as per the schedule.

• Step 4: Our team will reach out to you in case additional info is required to revive the policy

2. How do I proceed with the medical test to reinstate the policy?

• Medical team will connect on your registered mobile number to schedule medical as per your availability.
• A communication will be sent by medical team for advance payment of medical charges.
• You will have to visit allocated medical center as per the schedule.

3.I am unable to upload additional requirements, via the iAssist portal?

    If you face any errors while uploading the additional requirements, or logging on to the portal, try clearing your cache and deleting   cookies.
    If the issues persist, share a screenshot of    the error on customer.care@bandhanlife.com  from your registered email address. We will   be right  there to assist you.

4. How do I check the reinstatement status?

    You can track your revival status by logging into our self-service portal iAssist . Track my revival is located under the policy card on the home page.

 5. How long will it take to revive the policy amount?

    15 days from the day Bandhan Life team receives all requirements/ COI from your end.

    Note: Policy revival is subject to policy terms and conditions and underwriting guidelines. 

RENEWAL FAQ

1. How can a customer check the next due date for his Bandhan Life policy?

       Steps to check the next due date: 

• Step 1: Log in to iAssist   with your registered mobile number and OTP
• Step 2: Select ‘View Policy Details’
• Step 3: Check the date under ‘Next Renewal Date’

You can also check the next due date by logging into the company     website https://www.bandhanlife.com/pay-my-premium  and check the due date by entering your policy number and date of birth. 

2. How can a customer make a payment while renewing/ reviving the policy?

There are multiple ways to make the payment for both purchasing and renewing your policy. You can renew your policy via:

1. Pay via self-service portal iAssist:
   1. Log in to your iAssist account with your registered mobile number and pay your premium in a few simple steps.
   2. Get started now
2. Pay via website
   1. Click on this link
   2. Enter your policy number and Date of Birth
   3. Click on 'Submit'
3. Pay via UPI, through GPay, AmazonPay, PhonePe etc.
   1. Open your UPI app
   2. Go to payment categories/ billers
   3. Search for Bandhan Life insurance  and follow the steps

3. What are the payment options available to renew or revive the policy?

           While you pay premium via iAssist or website, you will get below option

• Debit/ Credit Card payments available for Mastercard, Rupay, Visa, Amex, Diners Club etc.
• Net banking
• UPI wallet

Note: Convenience fees will be levied if you are paying premium using any credit card.

Surrender FAQ

1) How can customer surrender his life insurance policy?

To surrender your policy, you can write to us at customer.care@bandhanlife.com  from your registered email ID OR visit our nearest service center. To know nearest service center,   click   Locate Now

 Documents Required:

Request form, in case you are visiting service center. To download the form click Download

Request form is not required if you are writing from registered email address.

NRI questionnaire in case residential status is/ was NRI and information is not shared with Bandhan Life.

A cancelled cheque or latest bank statement (with your complete name, complete account number and IFSC printed on it) 

PAN Card

Self-attested KYC document if you are writing from unregistered email address: Click here  to view acceptable KYC document 

Please note: 

• If auto-debit is active on your policy, the same will be cancelled simultaneously along with the policy.
• For ULIP policies
  • if the request is placed before 3 pm then the same day’s NAV will be given if it is not a market holiday.
  • If the request is placed after 3 pm then the next day’s NAV will be given if it’s not a Market holiday

2) Are there any surrender charges applicable

No charges will not be applicable on surrendering the policy.

3) How long will it take for the surrender value to be credited

15 days from the day all requirements are received.

4) When can I surrender my policy (for ULIP plan)

The ulip plan can only be surrendered post completion of 5 policy years.

5) How can I check my Fund Value.

The fund value can be viewed under "Switch Fund" tab on iAssist. Please be aware that if you have opted for triggered portfolio / lifestyle option, you will be unable to view your fund value.

              Logging in to  iAssist with your registered mobile number and OTP

             Click on “Switch Fund” tab under payment setting options and view your fund value

6) How can I check my Surrender Value.

You can contact us via email at customercare@bandhanlife.com using your registered email address, by phone at 1800-209-90-90, or via Whatsapp at (9867452226).