List of Life Insurance Companies in India

Life Insurance Companies In India

Here is a list of the Life Insurance Companies in India and their respective Claim settlement ratios for the financial year 2024-25, as issued by IRDAI.

To find a complete list of approved life insurance companies in India, visit the IRDAI (Insurance Regulatory and Development Authority of India) website.

Disclaimer: The list of insurers mentioned are arranged according to the alphabetical order of the name of insurance company respectively. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. The list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in

**Disclaimer: Policybazaar does not rate, endorse or recommend any specific insurance provider or insurance product offered by any insurer.

How To Choose The Ideal Life Insurance Company In India?

The following are some of the important factors to consider before choosing Life Insurance Company in India for yourself:

• Claim Settlement Ratio (CSR): CSR shows how many claims an insurer has settled against the total registered in a financial year. A higher ratio indicates better reliability. Always compare term plans along with CSR before making a decision.

• Customer Support: Opt for a company that offers strong customer and claims support. Round-the-clock assistance ensures your queries and issues are handled smoothly during the policy term.

• Customer Reviews: Go through feedback and reviews from existing policyholders. Real experiences can give you a clearer picture of the company’s service quality.

• Available Riders: Many insurers offer add-on riders to enhance your base plan, such as Critical Illness, Accidental Death Benefit, Total and Permanent Disability, and Waiver of Premium. These can provide extra protection at a small additional cost.

• Solvency Ratio: This measures an insurer's ability to meet long-term financial commitments. A higher ratio indicates financial strength. As per IRDAI rules, every insurer must maintain a minimum solvency ratio of 1.5.

Wrapping it Up

India's life insurance sector is well-regulated by IRDAI, with 24 registered companies offering policies that cater to different protection, savings, and investment needs. From high claim settlement ratios to diverse product options and useful riders, these insurers allow customers to choose a plan that fits their financial goals. While selecting a life insurance company, factors like CSR, solvency ratio, customer support, and reviews should guide your decision. The right insurer safeguards your family's future and ensures peace of mind throughout the policy term.

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