Life Insurance Companies in India

Top 15 Best Life Insurance Companies in India

Life is uncertain and unpredictable. One can only have an effective system to deal with unpleasant situations. Thus, the concept of "insurance" was introduced for the purpose of reducing risk and providing protection. Insurance is the primary way to manage life risk. There are many types of insurance policies available today to protect your loved ones and your loved ones. In a life insurance policy, the insured pays the insured's family a certain amount of money in the event of the death of the insured. 

When it comes to choosing the right insurance plan, you get lost in the choices because there are so many unique plans in the market that there are unique plans in India, operating 24 life insurance companies that are approved and recognized by IRDAI (Insurance Regulatory and Development Authority of India), Which is a regulatory body for the insurance and reinsurance industry. To summarize the best term insurance plan for your needs, we suggest you click the button below, fill out a few insurance fields, and offer our system the appropriate insurance policy to suit your needs.

Top 15 Best Life Insurance Companies in India

1. Aditya Birla Sun Life Insurance Company

Aditya Birla Sun Life Insurance was a joint venture between Aditya Birla Group and Sun Life Financial Inc. The company is known as the planner of Unit Linked Life Insurance and has more than 60,000 branches spread across 50,000 cities across the country. Aditya Birla Sun Life Insurance offers a full range of insurance services such as protection plans, child plans, health and leisure solutions, ULIP plans, customized group products, and life stage products to provide complete satisfaction to the customers.

2. Agon Life Insurance Company

IEGON Life Insurance focuses on providing a customer-centric business with great and innovative working professionals. Launched in 2006, the company works with multiple channel distribution strategies to help people plan their lives better. The company has launched an array of products that focus on providing customers with plans to meet their financial goals. The plans offered by the organization are term plan, endowment plan, group plan, ULIP plan, pension plan, protection plan, savings plan, child plan, and governance plan.

3. Bharti XA Life Insurance Company

Headquartered in Mumbai, Bharti XA Life Insurance is a life and general insurance provider. The company is a joint venture between Bharti Enterprise and XA Group. Customers can choose from a wide range of policies offered by companies ranging from investment plans to traditional themed plans or life insurance plans to child plans. The company is growing exponentially and has a network of 123 offices in various cities across India. Customers have resolved most of the company’s complaints in one year and the claim settlement ratio has been 979.28%. The maximum term of the policy offered by the company is 5 years and the age criteria for the plan starts from a minimum of 18 years to a maximum of 5 years.

4. Canara HSBC OBC Life Insurance Company

Launched in 2007, Canara HSBC OBC Life Insurance is a joint venture between HSBC's Insurance Holdings Limited, Canara Bank, and Oriental Bank. The company operates as Pan India Network with about 7000 branches of three shareholder banks across the country. In addition, the company provides necessary training and coaching to bank employees across 28 centers across the country. With a huge customer base, the company offers the most customized products to meet the needs of buyers. The term of the policy given by the company is a maximum of 40 years and the eligibility criteria are from a minimum of 18 years to a maximum of 70 years.

5. Aviva Life Insurance Company

Aviva Life Insurance is a joint venture between Dabur Group and Aviva Group. With 121 network centers across the country, Aviva Life Insurance serves a large customer base across the country. Among other insurance companies in India, the company is known for launching the first unit link and unit integration co-profit project in the market. Aviva Life Insurance offers a variety of plans to its customers. These plans meet all the needs and requirements of the buyers at a very economical price. The most common plans offered by the company are protection plans, governing plans, child plans, retirement plans, savings plans, health plans, term plans, and group insurance plans.

6. Bajaj Allianz Life Insurance Company

Bajaj Allianz Life Insurance is a joint venture between European financial services company Allianz SE and Bajaj Finzer Limited. Among other life insurance companies in India, Bajaj Allianz Life Insurance Company caters to the needs of its customers by offering a wide range of products ranging from ULIP and child planning directly to group and health insurance. The company offers a huge array of customized products that meet every single need of the customer and offer transparent benefits. Launched in 2001, this life insurance company provides one-stop solutions for customers and helps them achieve their financial goals.

7. Edelweiss Tokyo Life Insurance Company

Established in 2011, Edelweiss Tokyo Life Insurance is a newly formed private sector insurance provider in India. Edelweiss Group of India and Tokyo Marine Holding of Japan have merged to form Edelweiss Tokyo Life Insurance Company. The company provides life insurance products to the customer together with providing higher returns and guaranteed interest. Several common plans offered by the agency are conservation plans, endowment plans, child plans, protection plans, and retirement plans. On top of that, the company provides add-on coverage such as Accidental Death Benefit Rider, Accidental Total and Permanent Disability Rider and Critical Illness Rider to meet customer requirements.


8. Exide Life Insurance Company

Exide Life Insurance started its operations in 2001 and is supported by more than 35,000 advisors. Compared to other insurance companies in India, the plan offered by this company is customized and available at a very affordable price to meet the needs of the customer. Plans with a customer-centric approach are categorized as protection, savings, investment and retirement plans. Exide Life Insurance provides a one stop solution for customers for all your insurance needs

9. Fonture General India Life Insurance Company

Founded in 2007, Venture is a joint venture between Future General Life Insurance India General Group, Future Group and Industrial Investment Trust Limited. The company has a network of 98 branches in India and has achieved over 11 lakh policies since its inception. The company provides the customer with a one-stop solution for all types of financial security and provides their products in a variety of areas such as protection, policies and unit linked policies. The policies are given for a maximum period of 75 years and the eligibility criteria range from a minimum of 18 years to a maximum of 56 years.

10. HDFC Life Insurance Company

HDFC Life Insurance Company is a joint venture between India Housing Development Financial Corporation Limited and Standard Life Plus. It was founded in 2000. The company currently has 27 retail and 8 group products in its portfolio. The company provides an array of unique and group insurance solutions such as pension plans, savings and health plans, protection plans, child plans and women’s plans to meet the different needs of the customer.

11. ICICI Prudential Life Insurance Company

ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank Limited and Prudential Plus. The company started its operations in December 2000 as the first private sector life insurance in India. For more than a decade, the company has held the top spot among private life insurers. To cater to the needs of different life stages of the customer, ICCI Prudential Life Insurance provides a product that enables buyers to achieve long term goals. ICICI Prudential Life Insurance offers products such as term plans, ULIP plans, pension plans, child plans and investment plans.

12. IDBI is a federal life insurance company

IDBI Federal Life Insurance, formed in 2006, is a joint venture between IDBI Bank, Federal Bank and Ejaz, a European insurance company. With a shared network of 2137 branches across the country, the company provides a wide range of capital management solutions, protection and leverage to corporate clients as well as individuals. The bank also provides technical solutions for its customers. To be eligible for IDBI Federal Life Insurance, one must have a minimum age of 18 years and a maximum age of 55 years.

13. India First Life Insurance Company

Two Indian public sector banks, Bank of Baroda and Andhra Bank, a UK-based investment firm, have launched India First Life Insurance in a joint venture with Aini and General. Headquartered in Mumbai, the company provides investment funds, insurance plans and other policies. The agency provides comprehensive plans to meet each individual's needs such as savings plans, protection plans, pension plans, term plans and child plans.

14. Kotak Mahindra Life Insurance Company

JV between Kotak Mahindra Group and Old Mutual Fund, headquartered in Mumbai. Is Kotak Mahindra Life Insurance. The company provides various term plans, ULIP plans, child plans, savings plans, investment plans, protection plans and retirement plans while keeping their customers in high priority. The company has earned quite a reputation in the market for providing outstanding value to the customer through customized products and great service. Kotak Mahindra Life Insurance provides eligibility plans for a maximum of 30 years and a minimum of 18 years to a maximum of 65 years.

15. Life Insurance Corporation (LIC) India Company

Life Insurance Corporation of India is the oldest insurance sector in our country. Founded in 1956, one of the largest insurance companies in India is a state-owned insurance group and investment firm that provides a variety of insurance products to its customers. Some of the common products that the company offers are life insurance plans, pension plans, child insurance plans, unit plans, special plans and group plans. With a network of 2,048 branches, the company has a large number of employees in various cities and towns across the country.


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