Top 10 Life Insurance Companies in India

Top 10 Life Insurance Companies in India

People who require private life insurance can buy it from life insurance companies. If you want secured life for your family, life insurance companies can provide you this. Choosing the best life insurance plan from such a vast selection is undoubtedly a complex process, but doing so will pay off in the long run by providing you with peace of mind and a stress-free future for your family.

Below is a list of the top 10 life insurance companies that are listed at Quick Search India.

1. Life Insurance Corporation-

The Life Insurance Corporation (LIC) – was set up on 1 Sep 1956. The LIC headquarters is situated in Mumbai; the LIC has been run by the owners of the Government of India as the major proportion of its stake is under the hand of the ‘Government of India.’The establishment of the Life Insurance Corporation of India created the regulation and the supervision of the 245 private life insurance players.

245 life insurance companies include- 16 foreign companies, 75 provident companies, 154 life insurance companies. The structural organization of the LIC concludes with the Chairman and Managing directors. The LIC headquarters location in Mumbai includes the chairman, Managing Directors, and Executive directors Department heads.

2. HDFC Life Insurance Company

It is a joint venture between HDFC Ltd, one of India’s largest home finance companies, and Standard Life Aberdeen, a global investment firm. Founded in Mumbai, it is one of India’s leading insurance businesses. Since its inception in the year 2000, HDFC Life has offered an extensive portfolio of insurance and financial products to a wide spectrum of customers. Customers around the country may access HDFC Life’s services via 390 stores and additional distribution sites, and other partners. Consumers can easily access services because of the robustness of the digital platform. HDFC Life has received several awards and medals during the course of its long and distinguished involvement in the Indian insurance market.

3. Max Life Insurance Company-

This life insurance company has a huge customer base and globally serves about 38 million customers. The max life insurance company has business in the countries like- Poland, Brazil, Ireland, Mexico United States, Australia, and Spain.

According to the listing of the Forbes analyses, the company has a world ranking of 83 among the total 750 global companies in the world. 

4. ICICI Prudential Life Insurance-

The ICICI Prudential Life Insurance is a joint venture of the ICICI bank India. It has the regulation of owning the general insurance sector and running the life insurance category and various products for life insurance in India. The ICICI bank shares its 9.0 stakes in the ICICI general insurance as it ventures part. The company includes executives, managing directors, and chief underwriting officers.

The company’s key people include Bhargav Das Gupta as the Managing Director, Sanjay Dutta as the chief underwriting claims insurance and reinsurance. The executive directors are- AlokAgrawal, SanjivMantri, respectively.

5. Birla Sun Life Insurance –

Birla Sun Life Insurance offers a variety of life Insurance Products in many cities all over India. Birla Sun Life Insurance Company is in the 7thposition among the best life insurance companies in India 2021. 

6. TATA AIA Life Insurance –

Tata group is one of the world’s best business groups, offering several life insurance products through its TATA AIA Life Insurance Company Limited. The company provides many life insurance products for all age groups with maximum benefits, minimum taxes, and premium rates.

7. Reliance Life Insurance Company –

The company has a large business in the life insurance sector insurance with so many life insurance products in its category. The headquarter of the company is situated in Mumbai city. The company shares are divided among many stakeholders who also give the business strategies for its growth. The company has business in all most all states of the country with a large number of employees working in the company.

8. AEGON Life Insurance Company

As one of the top suppliers of a comprehensive variety of life insurance products to a diversified range of consumer sectors, AEGON Life Insurance Company was created in 2008. Digital-ready AEGON Life has a wide variety of goods and a strong digital presence. The company has received a slew of awards and recognition. “Digital Company of the Year 2020” and the ET BFSI Award were given to AEGON Life in 2019. They received the “E-business Leaders Award” as part of the Indian Insurance Awards. AEGON Life Insurance has won the ‘Celent Model Insurer Asia Award.’ They were also voted ‘Most Recommended Life Insurance Brand 2013,’ in addition to their other achievements.

9. Aviva Life Insurance Company

Aviva Life Insurance Company provides life insurance coverage. Aviva Life Insurance Company is a joint venture between Aviva plc, a British Assurance Company, and Dabur Group, an Indian conglomerate established in 1997. Aviva Life is a key participant in the insurance market, with more than 121 offices and over 9000 people, making it a big player in the sector. The insurance products and services supplied by the organisation range from protection plans to savings and retirement accounts. A variety of causes have played a role in the company’s ascent to the position of one of India’s largest insurance providers, as shown below. According to the publication the Financial Times has named Aviva Life the “Best and Most Trusted Brand in 2019,” according to the publication. For the years 2018 and 2019, Aviva Life Insurance Company has been named the most trusted private life insurance brand in India, according to the Brand Trust Report – India Study carried out by the Trust Research Association.

10. SBI Life Insurance.

The ‘SBI Life Insurance Company’ is also a government entity that provides life insurance products to the people. The premium structure is also low, as the SBI bank interest rate structure. Many customers serve the SBI life insurance. The various diversified products provide life coverage benefits to people with low and flexible premium paying structures. For more life insurance companies, search at Quick Search India.

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