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Best Life Insurance Companies In India 2019 - Justwebworld.com

Here is a look at some of the best life insurance companies in India. All these companies have been approved by the Insurance Regulatory and Development Authority of India (IRDAI). IRDAI is the statutory body that regulates the insurance industry in the country.

Opting for a life insurance policy is a wise decision. However, it can literally prove to be wise only if you buy it from a good life insurance company. It is essential to know all the terms and conditions attached to the policy so that there is no hassle later.

List of Life Insurance Companies In India

best-life-insurance-companies

Many companies in India are selling life insurance policies but not all of them can be trusted. You must go for one that has a good reputation and maintains transparency when it comes to dealing with the customers.

Here is a look at some of the best life insurance companies in India. All these companies have been approved by the Insurance Regulatory and Development Authority of India (IRDAI). IRDAI is the statutory body that regulates the insurance industry in the country.

1] Life Insurance Corporation of India

This is a public sector company established in 1956. It is the oldest life insurance company in India. LIC is also among the most trusted insurance companies in the country. The estimated asset value of the company is INR 3,111,847 crore as of 2019. The claim settlement ratio of the company is 98.04%.

The headquarters of Life Insurance Corporation of India is located in Mumbai. As many as 111979 people work in this company. LIC has offices spread across the country.

2] HDFC Standard Life Insurance Co. Ltd.

This is a private sector life insurance company. It is basically a joint venture between Housing Development Finance Corporation Ltd (HDFC) and Standard Life Aberdeen PLC. It was established in the year 2000. The company offers group as well as individual insurance. The claim settlement ratio of the company is 97.80%

The headquarters of HDFC Standard Life Insurance Co. Ltd. is located in Mumbai. It has 414 branches spread across different towns and cities in the country.

3] Max Life Insurance Co. Ltd.

This is a trusted private sector life insurance company established back in the year, 2000. A part of the Max India Ltd. Group, Max Life Insurance is the largest non-bank life insurance company in India working in the private sector.

The claim settlement ratio of this company is 98.26%. It has total assets worth INR 35,825 crore and net income of INR 440 crore.

The headquarters of Max Life Insurance Co. Ltd. is located in New Delhi.

4] ICICI Prudential Life Insurance Co. Ltd.

Another private sector life insurance company in India, ICICI Prudential Life Insurance Co. Ltd. was set up in December 2000. However, it started with its operations the following year. It is promoted by ICICI Bank Limited and Prudential Corporation Holdings Limited.

It has assets over INR 100,000 since 2015. The claim settlement ratio of the company is 97.88%. It is the first Indian life insurance company that made it to the NSE and BSE list.

The headquarters of ICICI Prudential Life Insurance Co. Ltd. is located in Mumbai.

5] Kotak Mahindra Life Insurance Co. Ltd.

This is a private sector life insurance company in India. It is a part of the Kotak Mahindra Group established in 1985. Kotak Mahindra Life Insurance Co. Ltd. came into being in the year 2001. The claim settlement ratio of the company is 93.72%.

The company's headquarters is located in Mumbai. It has 232 branches located in over 160 cities and towns in the country. More than 10,000 employees work here. The company boasts of as many as 15 million customers.

6] SBI Life Insurance Co. Ltd.

SBI Life Insurance Co. Ltd. is a private sector company established in the year, 2001. It is a joint venture between the State Bank of India and French multinational bank, BNP Cardif. While SBI owns 62.1% of the total capital, 22%of it is owned by BNP Paribas Cardif. The company has been performing excellently well. The claim settlement ratio of this company is 96.76%.

The headquarters of SBI Life Insurance Co. Ltd. is located in Mumbai.

7] Canara HSBC Oriental Bank of Commerce Life Insurance Co. Ltd.

This is another private sector life insurance company in India. It is a joint venture between Canara Bank, Oriental Bank of Commerce and HSBC Insurance Holdings Limited. The company came into being in 2008. It operates pan India and has more than 115 million customers. The claim settlement ratio of this company is 95.22%.

8] Reliance Nippon Life Insurance Company

This is a private sector company set up in the year 2001. It is a part of the Reliance Capital of the Reliance Anil Dhirubhai Ambani Group. It offers insurance products for four different segments including retirement, protection, children and investment plans. The chairman of the company is Anil Ambani. The claim settlement ratio of this company is 95.17%.

The headquarters of Reliance Nippon Life Insurance Company is located in Mumbai.

9] Aviva Life Insurance Company India Ltd.

Aviva Life Insurance Company India Ltd. is a private sector life insurance company established in 2002. It is a joint venture between a British Assurance Company, Aviva plc and Dabur Group. It has around 121 branches across India and approximately 3000 employees. The claim settlement ratio of the company is 94.45%.

The headquarters of the company is located in Gurgaon, Haryana.

10] Bharti Axa Life Insurance Co. Ltd.

Bharti Axa Life Insurance Co. Ltd. is a joint venture between Bharti Group and Axa. This is a private sector life insurance company that came into being in the year 2006. Though comparatively new in the business, this firm is doing a great job. The claim settlement ratio of this company is 96.85%.

The headquarters of Bharti Axa Life Insurance Co. Ltd. is located in Mumbai.

kina patel has done Masters in Computer Science from University of Mumbai, India. He is a passionate blogger, technology lover, plays chess, innovative, likes t

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