List of Best Life Insurance Companies in India
Updated On Mar 05, 2024
Life insurance is a contract between an insurance company and a policyholder whereby the former agrees to provide compensation if the latter meets an unfortunate death. With the growing importance of life insurance plans, a number of companies now provide life insurance plans. At present, the Insurance Regulatory and Development Authority of India, or IRDAI, has 24 life insurance companies are now registered. So, let’s walk you through some of the best life insurance companies in India.
Table of Contents
A List of Best Life Insurance Companies in India
Before you buy a life insurance plan, you should first choose a reliable life insurance company. So, to help you out, we have listed down some of the best life insurance companies in India:
1. Life Insurance Corporation
Life Insurance Corporation or LIC is one of the largest life insurance companies in India. LIC started its journey in 1956 and since then it has been serving customers with the best life insurance plans. Some of the top life insurance plans offered by Life Insurance Corporation include LIC SIIP, LIC Jeevan Bima, LIC Jeevan Umang, and others. The company has branches in different corners of the country which makes it easier for customers to get life insurance plans in a hassle-free manner.
2. Max Life Insurance Company
Max Life Insurance is a joint venture between Max Financial Service Ltd. and Mitsui Sumitomo Insurance Co. Ltd. With a claim settlement ratio of 99.35%, Max Life Insurance is one of the top life insurance companies when it comes to claim settlement. Some of the top life insurance plans offered by Max Life Insurance include child insurance plans, investment plans, and a lot more.
3. Bharti AXA Life Insurance
Another leading life insurance company in India in 2023 is Bharti AXA Life Insurance. Bharti AXA Life Insurance is a joint venture between Bharti Enterprises and AXA Group. Offering a bunch of life insurance plans, Bharti AXA lets policyholders pick a desired life insurance plan. Some of the best life insurance plans offered by Bharti AXA life insurance are Bharti AXA Life Premier Protect Plan, Bharti AXA Life Flexi Term, and more.
4. Canara HSBC Life Insurance
Canara HSBC Life Insurance is another one on our list of the best life insurance companies in India. The company started its journey in 2008 and is a joint venture between HSBC Insurance and Canara Bank. Offering the best customer services, Canara HSBC Life Insurance has a huge customer base. To explore the best life insurance plans, you can click on Canara HSBC Life Insurance plans or buy life insurance plans from InsuranceDekho.
5. ICICI Prudential Life Insurance
ICICI Prudential Life Insurance, a joint venture between ICICI Bank and Prudential Ltd. started its journey in 2000. ICICI Pru Signature, ICICI Pru Guaranteed Income for Tomorrow, ICICI Pru iProtect Smart, ICICI Pru Savings Suraksha, and others. With ICICI Prudential life insurance plans, you can get into a disciplined manner of investments, tax savings, and a lot more.
Take Away
So, while buying the best life insurance plan, you can consider buying the plans from the above-mentioned list.
Also read: Why is Term Insurance Better Than Whole Life Insurance?
