Best Insurance Company in India: Life is uncertain and
unpredictable. Only a proactive step can be taken to deal with unpleasant
situations. Hence, the concept of 'insurance' is introduced to mitigate the
risk and provide protection. Insurance is the main way of managing life
risk.
Various insurance policies are available today to protect your loved ones
and your favorite things. In a life insurance policy, the insured is
compensated to pay a certain amount to the insured's family in the event of
the death of an insured person. When choosing the right insurance package,
you are spoiled with options as different insurance companies in the market
offer many unique plans.
In India, 24 working insurance companies are approved and recognized by
IRDAI (Insurance Regulatory and Development Authority in India), a
regulatory body for the insurance and rehabilitation industry.
Best Insurance Company in India:
Life Insurance Corporation of India:
Life Insurance Corporation of India, popularly known as LIC, is the largest
life insurance company in India and is owned by the Government of India. LIC
appeared in 1956 as one of the top 10 Indian insurance companies. LIC
delivers insurance by all in any corner of any country with 2048 2048 branch
offices, 113 division offices, 8 regional offices, and 1408 satellite
offices. The total licensed assets managed is INR 3,111,847 crore (USD 450
billion).
Being a large insurance company, LIC has a huge customer base of over 29
crore policyholders. LIC is a trusted insurance brand that provides great
comfort to its customers through excellent customer service on digital
platforms and branch offices and various other tie-ups. LIC offers several
life insurance products that can meet the unique needs of various customer
segments. LIC has received constant recognition and respect for all the
milestones achieved by LIC.
Max Life Insurance Company:
Max Life Insurance Company, established in 2000, is India's largest
non-bank private sector insurance company. Max Life Insurance Company Indian
is a joint venture between Max India Limited, a multi-commercial Indian
company, and Mitsui Sumitomo Insurance Company, a Japanese insurance
company. Max Life Insurance Company is one of India's fastest growing
insurance companies, with Rs 90,407 crore under management.
The customer base of the company is more than 32 lakhs. With a strong
online presence, Max Life Insurance Company offers high-quality customer
service with a diverse product portfolio, multi-distribution channels, and
offices across the country. Max Life continues to receive awards and prizes.
With a high claim settlement ratio, Max Life has been awarded as 'DAWA
Service Leader' and 'Excellence in Medicine Service' by CMO Asia
Awards.
HDFC Life Insurance Company:
HDFC Life Insurance Company is a joint venture between HDFC Limited, one of
the top India insurance companies, the leading housing finance institution
in India, and Global Standard Life Aberdeen Investment Company. Established
in 2000, HDFC Life offers various insurance and investment solutions for
different customer segments.
HDFC Life serves its customers across the country through 390 branches,
additional delivery, and a touch of Bankkind partners. With a robust digital
platform, services are easily accessible to the customers. HDFC Life has
received some accolades and accolades for its enduring contribution to the
Indian insurance industry.
ICICI Prudential Life Insurance:
ICICI was promoted by Prudential ICICI Bank Limited and Prudential
Corporation Holdings Limited Life Insurance Company. Established in 2000,
ICICI Prudential Life is one of the best insurance companies in India, which
is today present across the country with strong banking channels and
multiple distribution channels. As on 30 June 2021, the life assets of ICICI
Prudential stood at Rs 2,231.71 billion.
With a customer-focused approach, ICICI Prudential Life offers a variety of
long-term protection and savings plans for different customer segments.
ICICI Prudential Life Insurance Company has received many awards and
accolades for its excellence in insurance.
Tata AIA Life Insurance Company:
Tata AIA Life Insurance Company is a joint venture between Tata Sons
Private Limited, one of the largest business conglomerates, and the Asia AIA
Group Limited Insurance Group. Tata AIA Life Insurance Company has assets
worth Rs 46,281 crores to be managed in 2021. Being one of the trusted
insurance brands in India, Tata AIA offers a range of insurance solutions
from Life Security to making money. The policy offers excellent customer
service and a simple solution to unique insurance needs.
Bharti AXA Life Insurance Company:
Bharti ACSA Life Insurance was established in 2006. It is a joint venture
between ACUS Group and Bharti Enterprises. The strong financial expertise
and domestic business advantages from these companies have created a strong
background for the company. Bharti AXA Life has introduced various
innovative insurance products to meet the customer's unique requirements.
Bharti Anna's Jeevan distribution network is spread across 123 cities in
this country. The company offers a variety of plans, from protection plans
to savings, health, and groups, and most of them are easily offered on
online platforms.