Top 10 Life Insurance Companies Of India in 2022

Top Life Insurance Companies Of India

Life Insurance Companies Of India: Life insurance refers to an agreement between a company and an individual under which the family of the insured person will be provided a death benefit in the event of an unfortunate accidental death. Therefore, individuals with dependent family members must choose such a plan to ensure that their family, children, spouses and siblings are financially secured, even in the case of unfortunate deaths.

If the insured dies during the plan coverage period, his/her family members can claim death benefit. Some insurance companies offer optional coverage for serious illness. There are many insurance companies in India that actually offer the best term insurance plan at extremely cheap cost. Currently, there are 24 life insurance companies in India that offer life insurance plans.

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What is a Life Insurance?

A life insurance is a contract between a company and an individual. According to the policy, a sum of money will be provided to the insured person as a death benefit by the insurance company. If the insured dies during the plan coverage period, his/her family members can claim death benefit. The amount of life insurance is paid in exchange for a certain amount of premium.

What is a Life Insurance Company?

A life insurance company is an organization that makes insurance policies for its customers. The policyholders pay a sum of money in exchange for a premium, upon the death of an insured person or after a set period. Death by accident or suicide is excluded from the insurance coverage policy.

Top 10 Life Insurance Companies Of India

At present, there are 24 life insurance companies in India, but today I am going to share with you a list of Top 10 Life Insurance Companies Of India in 2022 –

1. Max Life Insurance Company

Max Life Insurance Company, was founded in 2000, which is one of the best life insurance companies Of India. The main aim of the company is to provide a adequate financial strength to its subscribers. Max Life Insurance offers various types of insurance policies including long-term savings, protection, investment, child insurance and more.

2. HDFC Life Insurance Company

HDFC Life Insurance Company was commenced its first operation in the year of 2000. The headquarters of HDFC Life Insurance Company is situated in Mumbai, Maharashtra. The company is a joint venture between Standard Life Aberdeen PLC and Housing Development Finance Corporation Limited.

This company offers various types of insurance policies like protection plans, pension plans, women plans, child plans, health plans, etc.The life insurance company also provides several insurance policies for children and women. A policy holder can add some additional riders to the plan to improve the coverage.

3. Bharti Axa Life Insurance 

Bharti AXA Life Insurance is a collaboration between Bharti Enterprises, an Indian conglomerate, and AXA, one of the leading financial and asset management companies. The company was founded in 2007 and the CEO is Sanjeev Srinivasan. The headquarters of this Insurance Company is situated in Mumbai, Maharashtra. This company offers various types of insurance policies such as Protection plans, Savings plans, Investment plans, Health plans, etc.

4. Life Insurance Corporation of India (LIC) 

One of the best and oldest life insurance companies Of India is “LIC Insurance Corporation Of India“. The company was first founded by the government of India in 1956. The LIC Insurance Corporation Of India is also offer career opportunities as a LIC agent. The company offers various types of insurance policies like pension plans, children plans, group schemes, unique plans, money back plans and so on.

5. Tata AIA Life Insurance Company

It is another popular life insurance company, was founded in 2001. This company is a collaboration between AIA Group Ltd and Tata Sons Pvt Ltd. In order to meet the future needs of the policyholders, Tata AIA offers various life insurance plans such as wealth plans, savings plans, protection plans, etc.

6. Canara Bank Life Insurance 

Canara Bank is another life insurance company, was founded in 2008.  Anuj Mathur is the MD & CEO of the Canara Bank Life Insurance Company. The main aim of this company is to provide customers comprehensive  insurance solutions that include competitive products, affordable fees, and quick and efficient service. The best insurance plans the company offers are Child Plans, Health Insurance Plans, Saving Plan, Retirement Plans & more.

7. Kotak Life Insurance

Kotak Mahindra Life Insurance Company was founded in 2001, an Indian private life insurance company. All over India it serves 15 million clients and has 232 locations in 167 cities & towns. The organization offers various savings and investment plans, child plans, retirement plans, etc.

8. Exide Life Insurance Company

Exide Life Insurance Company Limited, an Indian life insurance company owned by HDFC Life. The life insurance company was founded in 2001 and the head office of the company is situated in Bengaluru and have over 200 branches globally, It is considered one of the best life insurance companies Of India. The organization offers various plans including savings, investment, protection, and retirement plans.

9. Reliance Life Insurance Company

It is another best life insurance companies Of India which is a joint venture between Reliance Capital and Nippon Life. Reliance Nippon life insurance company was started its first journey in the year of 2001. They have offered insurance plans to over 10 million customers. Amongst the private insurance companies it is the largest non-bank supported life insurance company. The company deals with five different insurance segments i.e. retirement, protection, child, health, investment and saving.

10. Bajaj Allianz Life Insurance 

Another life insurance company is Bajaj Allianz which is a collaboration between the Bajaj and the Allianz companies. It is considered one of the finest life insurance company according to IRDA. Bajaj Allianz offers a life goal-oriented investment plan (ULIP) that allows people to plan the perfect experience without worrying about the future.

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