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Bandhan Life
Indian life insurance company From Wikipedia, the free encyclopedia
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Bandhan Life Insurance Limited (formerly known as Aegon Life Insurance Company) is an Indian life insurance company offering individual and group insurance online and offline.[2][3] Founded in 2008, it is headquartered in Mumbai, India.
 | This article contains promotional content. (April 2021) |
Until 2024, it was a joint venture between Dutch Aegon N.V., a multinational insurance, pensions and asset management company and The Times Group (also called Bennett, Coleman & Co.)[4]
In February 2024, it was announced that the firm was acquired by Bandhan Financial Holdings Ltd.[5] On April 19, 2024, Aegon Life was officially rebranded as Bandhan Life.[6][7][8]
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Corporate history
In July 2006, AEGON and the Ranbaxy Group announced its intention to enter the insurance business in India. The partnership of AEGON, Religare & Bennett, Coleman & Company formed AEGON Religare Life Insurance Company Limited and launched in July 2008.[citation needed]
In 2015, Aegon increased its stake in the venture to 49% while Religare Enterprises announced it was exiting the venture[9][10] by selling its entire shareholding in the company, 44%, to Bennett, Coleman and Company, the holding company of the Times Group.[11] This led to the rebranding from Aegon Religare Life Insurance Company to Aegon Life Insurance Company.[4]
In September 2019, it partnered with Paytm to offer comprehensive insurance products.[12] In March 2020, the company entered into partnership with Flipkart to sell paperless life insurance policies on their platform.[13]
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Products and services
Bandhan Life Insurance's distribution channels include banks, individual agents, brokers, and corporate agents, bancassurance partners, among others.[14] The company offers term insurance plans, savings and investment plans, child plans, and unit-linked insurance plans (ULIPs). In May 2018, the company launched the 'iTerm' plan, which offers insurance cover up to 100 years.[15] It launched a new version of its 'iTerm' Insurance Plan in November 2019[16] that provides regular monthly income after the age of 60.[17][18][19]
In January 2025, Bandhan Life Insurance and Policybazaar launched iInvest Pension Plan, a market-linked pension plan for building retirement corpus.[20]
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