Life Insurance Companies in India

Top Life Insurance Companies of India With Claim Settlement Ratio

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Life Insurance Companies Brief Details

Aditya Birla Sun Life Insurance Company

Aditya Birla Sun Life Insurance came in to existence with the joint venture between Aditya Birla Group and Sun Life Financial Inc. The company is known as a pioneer of Unit Linked Life Insurance plans and has over 600 branches spread over 500 cities across the country. A complete range of insurance services is offered by Aditya Birla Sun Life Insurance like protection plan, child plan, health and retirement solution, ULIP plan, customized group product and life stage product to provide complete satisfaction to the customers.

Aegon Life Insurance Company

AEGON Life Insurance is focused to provide a customer centric business along with an excellent and innovative working professionals. Started its operation in year 2008 the company works with a multiple channel distribution strategy with an aim to help people to plan their life in a much better way. The company has launched an array of products that focuses on offering plans to the customers to meet their financial goal. The plans offered by the company are online term plan, endowment plan, Group plan, ULIP plan, pension plan, protection plan, saving plan, child plan and ruler plan.

Ageas Federal Life Insurance Company

Formed in 2008 Ageas Federal Life Insurance is a joint venture between Ageas Bank, Federal Bank and Ageas a European Insurance Company. With a partnered network of 2137 branches over the country the company offers a wide range of capital management solution, protection and retirement to the corporate customers as well as individual. The bank also offers ingenious technological solution to its customers. To be eligible for Ageas Federal Life Insurance one should have a minimum age limit of 18 years to maximum age limit of 55 years.

Aviva Life Insurance Company

Aviva Life Insurance company is a joint venture between the Dabur Group and Aviva Group. With 121 networked centers across the country Aviva Life Insurance serves a large number of customer base countries wise. Among the other insurance companies in India the company is known to first introduce Unit Link and Unitized With-Profit Plan in the market. The Aviva Life Insurance Company offers a wide variety of plans to the customers. These plans fulfill all the needs and necessities of the buyers at a very economical price. Some of the most common plans offered by the company are protection plan, ruler plan, child plan, retirement plan, saving plan, health plan, term plan and group insurance plan.

Bajaj Allianz Life Insurance Company

Bajaj Allianz Life Insurance is a joint venture between the European financial services company Allianz SE and Bajaj Finserv Limited. Among the other life insurance companies in India Bajaj Allianz Life Insurance Company meet its customers need by providing them a huge range of products right from ULIP and Child Plan to Group and Health Insurance. The company provides a huge array of customized products that cater the every single demand of the customer and provide them a transparent benefit. Launched in year 2001 this life insurance company provides a one stop solution to the customers and help them in achieving their financial goals.

Bharti AXA Life Insurance Company

Headquartered in Mumbai Bharti AXA Life Insurance is a life and general insurance provider company. The company is a joint venture between Bharti Enterprises and AXA Group. The customers can choose from the wide range of policies offered by the company ranging from investment plans to traditional plan or life insurance plan to child plan. The company is flourishing immensely and has a network of 123 offices in different cities across India. The customers has witnessed a maximum grievances resolved by the company in a year and had experienced a claim settlement ratio of 97.28%. The policies offered by the company have a maximum tenure of 65 years and the age criteria for the plans starts from minimum 18 years to maximum 65 years.

Future Generali India Life Insurance Company

Established in year 2007, Future Generali Life Insurance India is a joint venture between Generali Group, Future Group and Industrial Investment Trust Limited. The company has a network of 98 branches over India and since its inception it has sourced over 11 Lakh policies. The company offers one stop solution for all types of financial security to the customer and serves their products on different areas like saving protection, policies and Unit Linked Policies. The policies are offered with a maximum tenure up to 75 years and the eligibility criteria ranges from least 18 years to maximum 56 years.

HDFC Life Insurance Company

HDFC Life Insurance Company India is a joint venture between Housing Development Financial Corporation Ltd. and Standard Life Plus. It was founded in year 2000. The company has currently 27 retail and 8 group products in portfolio. In order to meet the various needs of the customer the company provides an array of individual and group insurance solutions like pension plan, saving and health plan, protection plan, child plan and women plan.

ICICI Prudential Life Insurance Company

ICICI Prudential Life Insurance Company of India is a joint venture between ICICI Bank Ltd.and Prudential Plus. The company began its operation in December 2000 as the first private sector Life insurance in India. For over a decade the company has maintained its top most position amongst the private life insurer in country. To fulfill the different life stage requirements of the customer, ICICI Prudential Life Insurance provides an array of products that enables the buyers to achieve the long term goal. ICICI Prudential life insurance offers products like term plan, ULIP plan, Pension Plan, Child Plan and Investment Plan.

IndiaFirst Life Insurance Company

The two Indian public sector banks, Bank of Baroda and Andhra Bank went into a joint venture with U.K based investment firm Legal and General and has launched India First Life Insurance Company. Headquartered in Mumbai the company offers investment funds, insurance plans and other policies. The company offers a wide range of plans to cater the need of every individual like saving plans, protection plans, pension plans, term plans and child plans.

Kotak Mahindra Life Insurance Company

Headquartered in Mumbai the J.V between Kotak Mahindra Group and Old Mutual Fund is Kotak Mahindra Life Insurance. Keeping their customers in high priority the company provides a range of term plan, ULIP plan, child plan, saving plan, investment plan, protection plan and retirement plan. The company has much gained name in the market for delivering outstanding value to its customer through customized products and excellent service. The Kotak Mahindra Life Insurance provides plans with a maximum tenure of 30 years and eligibility criteria with minimum 18 years to maximum 65 years.

Life Insurance Corporation (LIC) India Company

Life Insurance Corporation of India is the oldest insurance sector of our country. Established in 1956, one of the largest insurance companies of India is a state owned insurance group and investment firm that offers a range of insurance products to its customers. Some of the common products that is offered by the company are life insurance plans, pension plans, child insurance plans, unit linked plans, special plans, and group scheme. With a network of 2,048branches, the company has a huge number of employees operating in different cities and towns all over the country.

Max Life Insurance Company

Max Financial Service Ltd. and Mitsui Sumitomo Insurance Co. Ltd joined hands together and has launched Max Life Insurance. With multi-channel distribution partner and high service providing agencies the company offers the most comprehensive long term protection, saving and retirement schemes. With a strong customer centric approach the company offers one stop solution for all types of insurance and investment needs. Max Life Insurance has a strong track record of 15 years and offers superb investment expertise.

PNB MetLife India Insurance Company

PNB MetLife India Insurance company has over 1,800 corporate clients in India and is spread over 150 different locations in country. The company is well known for its protection and retirement products. Apart from this there are various plans like child plan, saving plan, ULIP plan, Monthly income plan and money back plan that is offered to the customer. PNB MetLife Insurance Company in India came into action in year 2008. For the insurance products offered by the company the eligibility criteria starts from minimum 18 years –maximum 65 years old.

Pramerica Life Insurance Company

Situated in Gurgaon Pramerica Life Insurance company serves with 138 branches and 2586 employees spread across the country. Although despite of being a new company the firm is growing by heaps and bounds and had made a remarkable place in the market. The company offers a variety of plans to the customers within a maximum tenure of 30 years. 

Reliance Nippon Life Insurance Company

Reliance Nippon Life Insurance is a part of Reliance capital of the Reliance Group. The company has over 10 million policyholder country wise with a network close to 1,230 branches across the country. Reliance Life Insurance has claim settlement ration of approximately 97.71% and have a record of maximum grievances resolved in 2018-19. The company mainly target products to individuals along with the group sand corporate entities. The company offers range of plans some of the most comprehensive plans like retirement, children, protection, investment and health plan. The maximum tenure of the policies are 35 years and the eligibility criteria to avail the criteria starts from minimum 18 years – maximum 55 years.

Sahara India Life Insurance

Established in 2004, Sahara Life Insurance is India’s first wholly owned private life insurance company. With acknowledgeable presence in most part of the country the company serves almost all the sections of the society right from ruler to middle class and urban based. With a customer centric approach the Sahara Life Insurance Provides an extensive range of products like money back plan, unit link plan, term assurance plan, endowment plan and group assurance plan to cater the insurance needs of every individual.

SBI Life Insurance Company

Introduced in year 2001, SBI Life Insurance Company is a Joint venture between State Bank of India and BNP Paribas Cardiff. SBI Life Insurance Company offers an inclusive range of life insurance and pension products at a very economical rate.

Shriram Life Insurance Company

Shriram Life Insurance was established in year 2005, by a joint venture between Shriram Group and Sanlam Group. The company has a network of 630 branches across the different countries in India and caters the diverse needs of the customers from the different cities of the country. The company takes pride for efficient usage of capital and low operation cost. The major key features of the company are that it focuses on ruler market and serve the more economically weaker section of the society. With a variety of plans offered by the company the maximum tenure of the policy ranges up to 25 years and the eligibility criteria ranges from minimum 18 years to maximum 65 years.