Top 10 Life Insurance Companies in India 2021
There are a total of 24 life insurance firms in India that have been licenced and recognised by the IRDAI, which is a regulating agency for the insurance and reinsurance industry.
We recommend that you click on the button below to select the best term assurance plan, complete several insurance forms and let our system advise the appropriate policy according to your requirements.
Insurance is really important?
Insurance is a necessary investment in one's family's future.
Even financial advisors recommend getting insurance before beginning your financial planning.
For a variety of reasons, insurance is a must-have item.
Some of the factors are as follows:
If anything unexpected happens to the family's breadwinner, the family's financial condition may come to a halt.
Insurance benefits may help a family's finances by providing a source of income and financial stability.
Even if you are not present, your family will be financially secure with insurance.
Top 10 Life Insurance Companies in India:
1. Life Insurance Corporation of India
The Indian life insurance company, commonly called LIC, is India's largest government-owned life insurance business.
In 1956, LIC, one of India's top 10 insurance firms, was founded.
With 2048 branches, 113 divisional offices, 8 zonal offices and 1381 satellite offices, LIC makes insurance available to everybody across the nation.
LIC's entire managed asset now amounts to 3,111,847 crores (USD 450 billion).
LIC is the leading insurance company with over 29 customers in a large client base. Its exceptional customer service on the internet platform and through its subsidiaries and many other link-ups provides its consumers with high comfort.
LIC offers several life insurance policies that satisfy a range of consumer groups' individual requirements.
LIC has always been acknowledged and awarded for all the achievements it has reached.
Some of LIC's accolades are as follows:
2. Max Life Insurance Company
Founded in 2000, Max Life Insurance Company is India's largest private sector non-banking insurance undertaking.
A joint venture between the multibusiness Indian company, Indian Max India Ltd, and the Japanese insurance company, Mitsui Sumitomo.
It is one of India's fastest-growing insurance firms; Max Life's managed assets have already reached INR 50,000 crores.
Max Life has more than 30 lakhs of client base.
Max Life Insurance Company offers high-quality client services thanks to its strong internet presence, extensive product portfolio, multi-distribution channels and 1,090 offices around the country.
3. HDFC Life Insurance Company
A joint venture between HDFC Ltd, a major Indian housing financing organisation, and Standard Life Aberdeen, an international investment firm, is HDFC Life Insurance Company, one of the Top India Insurance Companies.
Established in 2000, HDFC Life offers diverse client segments a comprehensive range of insurance and investment options.
With 412 locations and various distribution touchpoints and banking insurance partners, HDFC Life services its clients across the country.
Services are easily accessible to clients with a robust digital platform.
For his continued contribution to the indian insurance industry, HDfC Life has earned several honours.
Some of the details are below
4. ICICI Prudential Life Insurance
The company is being marketed by ICICI Prudential Life Insurance Company, ICICI Bank Limited and Prudential Corporation Holdings Limited.
Founded in 2000, ICICI Prudential Life, with its strong banking connections and diverse distribution platforms, is now a leading insurance business in India.
INR 1,604.10 billion total assets under the administration of the firm.
ICICI Prudential Life offers several long-term protection and saving plans with a customer-centered approach for a different section of customers.
ICICI Prudential Life Insurance Company has received several honours and recognition for its performance in the insurance sector.
5. Tata AIA Life Insurance Company
Tata AIA is a joint venture between one of Asia's major corporates, the Tata Sons Private Limited, and AIA Company Limited, Asia's largest assurance group.
In 2019 INR 28,430 crores are the assets of Tata AIA Life insurance company under control.
As one of India's recognised insurance companies, Tata AIA Life provides a wide range of insurance products from protection to the building of wealth.
The plans give easy answers and outstanding service to specific insurance requirements.
5. Bharti AXA Life Insurance Company
The year 2006 saw the founding of Bharti AXA Life Insurance.
AXA Group and Bharti Enterprises are a joint partnership.
The firm has a solid track record of excellent financial competence and domestic commercial performance.
In order to meet the particular demands of consumers, Bharti AXA Life has created different innovative insurance solutions.
The distribution network of Bharti AXA Life is distributed throughout 123 national cities.
There is more than 10, 50,000 customers in the firm.
The firm provides different plans to save health plans, group plans and many easily available on an internet platforma, starting with the protection plan.
7. Bajaj Allianz Life Insurance Company
Founded in 2001, Bajaj Allianz Life Insurance Company is a joint venture with Bajaj Finserv Group Limited.
Bajaj Allianz Life offers unique insurance products in various client categories in 759 locations all throughout the nation.
It is recognised for its strong creative goods and its prompt customer service.
Various honours and accolades for their contribution to the insurance business have been awarded.
8. SBI Life Insurance Company
SBI Life Insurance is a joint venture between the State Bank of India, India's largest bank, and the global French bank and financial services business, BNP Paribas Cardif.
SBI Life Insurance now has INR 20 billion of authorised capital (USD 290 million).
SBI Life was initially established as a multidistribution channel banking insurance company.
The firm has grown year after year with excellence in customer service and product advancements.
For the field efforts, SBI Life earned several medals and awards.
9. Reliance Nippon Life Insurance Company
Reliance Nippon Life Insurance Company is one of India's largest insurance firms for various sectors of the workforce formed in 2001.
Dependence has almost 10 million policyholders.
Through its strong 727 branches, the business made insurance accessible to people.
Reliance Life provides a product for every individual's needs.
The assets under control of the business are now INR 20 281 Cr.
The firm was awarded a lot.
10. AEGON Life Insurance Company
Founded in 2008, AEGON Life Insurance company is one of the finest providers of different life insurance solutions to different consumer sectors.
AEGON Life is the new-year, digitally-enhanced firm that has a broad range of products.
The firm has earned several honours and medals
At Indian Insurance Awards, AEGON Life got 'E-business Leaders Award'
'Celent Model Insurer Asia' is awarded to AEGON Life
'Life insurance brand 2013' was won by AEGON Life'