TOP 10 LIFE INSURANCE COMPANIES IN
INDIA
In the present world, there could be calamity at each progression of
life. It is dependent upon us to guarantee that our family remains secured
dependably.
There are many different life insurance companies in India that
provide the best term insurance plans at very low premiums.
These best life insurance companies in India are very well known in the
market.
Regardless of whether one is a procuring member of the family or not,
life insurance is something everybody must have, that excessively from an
established and popular life insurance organization.
At present, there are 24 life insurance companies in India with just LIC
of India being the government undertaking and the other 23 are either exclusive
or joint ventures between at least two privately owned businesses (national and
additionally global) or between privately owned businesses and public sector
undertakings.
These insurance companies offer one of the best insurance companies in India.
Top 10 Life Insurance Companies In India 2019 are as follows:
1) LIC Insurance Corporation Of India
LIC Insurance Corporation Of India is one of the best life insurance
companies in India.
LIC of India basically
stands for ‘Life Insurance Corporation’.
LIC Insurance Corporation Of India is the oldest insurance company that
provides a life insurance policy.
This company was basically founded in the year 1956. LIC Insurance
Corporation Of India provides an offline life insurance policy. LIC Insurance
Company
LIC Insurance Corporation sells many different products such as
endowment plans, money back plans, term assurance plans, pension plans,
children plans, group schemes, special plans, unit-linked plans, etc.
The claim settlement ratio of the life insurance policy of this company
is 98.31%. That is 7,42,243 claims have been paid by this life insurance
company till present.
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2) ICICI Prudential Life Insurance
ICICI company is basically promoted by ICICI bank Prudential Corporation
Holdings Limited. ICICI Prudential Life Insurance is the second-best life
insurance company in India which is in the list of top life insurance
companies in India 2019.
ICICI Prudential Life Insurance was established in the year 2001. From
then it has been serving life insurance companies.
Claim Settlement Ratio of ICICI Prudential Life Insurance is 96.68%.
That is 11,546 claims have been paid by this life insurance company till
present.
3) SBI Life Insurance
SBI Life Insurance is the third top life insurance company in India in
2019. This life insurance company is classified as one of the best life
insurance companies in India by IRDA( Insurance Regulatory and Development
Authority of India).
SBI Life
Insurance Company is basically a joint venture between India’s
largest bank State Bank of India and the leading global insurance company BNP
Paribas Cardiff.
Full-form of SBI is ‘State Bank OF India’.
This life insurance company is one of the best life insurance companies
in India.
SBI Life Insurance Company has a claim settlement ratio of 96.69%. That
is 13,303 claims have been paid by this life insurance company till present.
4) HDFC Standard Life Insurance
HDFC Standard Life Insurance company ranks at the fourth top life
insurance company in India 2019 – 2021.
Full-form of HDFC is “Housing Development Finance Corporation”.
HDFC Life is
a leading long-term life insurance solutions supplier in India, offering a
scope of individual and group insurance solutions that meet different customer
needs, for example, Protection, Pension, Savings, Investment, and Health.
HDFC Standard Life Insura Hnce is a renowned joint venture between HDFC
Ltd. and Standard Life Aberdeen.
The claim settlement ratio of HDFC Standard Life Insurance is 97.62%.
That means 11,031 claims have been settled by this life insurance company till
the present.
Also, read our blog on Prosper vs Life Insured
5) Max Life Insurance
Max Life Insurance company ranks at the fifth top life insurance company
in India 2019. Max Life Insurance company offers one of the best life insurance
plans in India.
Max Life
Insurance company offers
a very low premium and one of the best life securing a policy that is why it is
listed in top insurance companies in India 2019.
The claim settlement ratio of Max Life Insurance Company is 97.81%. That
is 8,804 claims have been settled by this life insurance company till present.
6) Bajaj Allianz Life Insurance
Bajaj Allianz Company ranks in the sixth position in the list of top
insurance companies in India 2019 – 20. This company classified as one of the
best life insurance companies in India by IRDA.
Bajaj Allianz is basically a joint venture of the Bajaj company and
Allianz company. Whereas, Bajaj is an Indian company and Allianz is a German
company.
Bajaj Allianz Life Goal Assure, a life goal-based investment plan (ULIP)
offers people the chance to plan ideal experiences with zero worries.
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Claim Settlement Ratio of Bajaj Allianz Life Insurance Company is
91.67%. That means about 18,978 claims have been paid by this life insurance
company till present.
Also read: Bajaj Allianz Life Insurance
7) Birla Sun Life Insurance
Birla Sun Life Insurance Company is the seventh topmost best life
insurance companies in India 2021.
Birla Sun Life
Insurance is basically a joint venture company between Aditya
Birla Group and Sun Life Financial Inc.
Sun Life Financial is a well renowned international financial services
organization in Canada. Aditya Birla Sun Life Insurance was basically
abbreviated as ABSLI.
Aditya Birla Company is also a renowned life insurance company.
Claim Settlement Ratio of Birla Sun Life Insurance Company is 94.69%.
That is 8,055 claims have been paid by this life insurance company till present.
8) Reliance Nippon Life Insurance
Reliance Nippon Life Insurance Company ranks in the eighth position in
top life insurance companies in India 2019. This life insurance company has
been classified as one of the best life insurance companies in India.
Reliance Life
Insurance company offers two life insurance plans-
1.
Reliance Nippon Life Digi-Term Insurance Plan
2.
Reliance Nippon Life Term Plan
Claim Settlement Ratio of this life insurance company is 95.17%. That
means 15,211 claims have been paid by this life insurance company.
9) TATA AIA Life Insurance
TATA AIA Life Insurance Company ranks at the ninth position in top life
insurance companies in India 2021.
Tata AIA Life Insurance Company Limited
is a leading joint venture company, formed by Tata Sons Ltd. and AIA Group Ltd.
TATA AIA Life joins Tata’s pre-eminent leadership position in India and
AIA’s presence as the largest, independently recorded skillet Asian life
insurance group in the world crossing 18 markets in the Asia Pacific area.
Claim Settlement Ratio of this life insurance company is 98%. That means
3,659 claims have been paid by this life insurance company.
Also, read our blog on Top SBI Life Insurance Plans In India
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10) PNB Metlife India Insurance
PNB Metlife India Insurance is the tenth best life insurance company in
India.
PNB Metlife India Insurance is one of the best life
insurance companies in India. This life insurance company is basically a joint
venture between PNB and Metlife companies.
Full- form of PNB is ‘Punjab National Bank’.
PNB Metlife India Insurance company combines the financial strength of
Metlife and reliability and credibility of PNB.
Claim Settlement Ratio of this life insurance company is 87.14%. That is
2,290 claims have been paid till present by this life insurance company.
So life insurance policy is one of the important things in an
individual’s life. These companies provide the best life insurance company and
life insurance policy must be issued from these top 10 life insurance companies
in India 2021.
Also read: Shriram Life Insurance Review And Benefits
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