Best Insurance Company in India

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.