Life insurance Companies in India: There are many life insurance companies in India, which provide life insurance plans. Life insurance is an agreement between an individual and an insurance company, under which the insurance company pays a death benefit to the insured’s family in case of the unfortunate death of the insured person during the policy term. Before purchasing a life insurance policy, you should find an insurance company that you can completely trust.
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Life Insurance Corporation of India (LIC) Company
Life Insurance Corporation of India (LIC) is the oldest insurance company of our country. LIC was established on 1 September 1956. When the Parliament of India passed the Life Insurance of India Act which nationalized the insurance industry in India. LIC provides many types of insurance products to its customers.
Some of the common products offered by the company are life insurance plans, pension plans, unit linked plans, micro insurance plans, group schemes, etc. With a network of 2,048 branches, this company has a huge number of employees working in various cities and towns across the country.
Tata AIA Life Insurance Company
It was launched in the year 2001 as a joint venture between life insurance company AIA Group Limited and Tata Sons Private Limited. Majority of the stake in this joint venture is 75% with Tata Sons and 25% with AIA Group of Companies.
Tata AIA follows a completely customer centric approach, and offers a wide range of life insurance. Plan to meet the future needs of your policyholders. This company offers many insurance plans like Group Plan, Child Plan, Wealth Plan, Protection Plan, Saving Plan and Micro Insurance Plan.
SBI Life Insurance Company
SBI Life Insurance is an Indian life insurance company. This insurance company was started in March 2001 as a joint venture with State Bank of India (SBI) and BNP Paribas Cardif. SBI Life Insurance Company offers life insurance and pension products at very affordable rates. SBI Life Insurance has a network of more than 950 branches.
Max Life Insurance Company
Max Financial Services Limited and Mitsui Sumitomo Insurance Company Limited together launched Max Life Insurance. With multi-channel distribution partners and high-service delivery agencies, the company offers long term protection, savings, child insurance and retirement schemes. All the insurance plans offered by Max Life are loaded with benefits and various essential features as per the needs of the individual.
Bajaj Allianz Life Insurance
Bajaj Allianz Life Insurance Company was incorporated in 2001 as a joint venture between European financial services company Allianz SE and Bajaj Finserv Limited.
Bajaj Allianz Life Insurance Company offers term insurance plans, ULIP plans, savings plans, investment plans, child insurance plans and retirement plans. The company offers a vast range of customized products. Which fulfills every single demand of the customer and provides them a transparent benefit.
HDFC Life Insurance Company
HDFC Life Insurance Company is a life insurance company. The company was launched by a joint venture between Standard Life Aberdeen plc and Housing Development Finance Corporation Limited. This insurance company was started in the year 2000 and its headquarters is located in Mumbai, Maharashtra.
This company provides various types of life insurance plans to its customers like protection plan, pension plan, women plan, child plan, health plan etc. This life insurance company offers a number of insurance policies specifically designed for children and women. The policyholder can add additional riders to the plans to increase the coverage.
ICICI Prudential Life Insurance
ICICI Prudential Life Insurance Company is a life insurance company in India. This company was established by the joint venture of ICICI Bank and Prudential Corporation Holdings Limited. ICICI Prudential Life Insurance is one of the best life insurance company in India. It was included in the list of top life insurance companies in 2019.
To meet the lifestyle needs of customers, ICICI Prudential Life Insurance offers a wide range of products that enable buyers to achieve long term goals. ICICI Prudential Life Insurance offers products like term plans, ULIP plans, pension plans, child plans and investment plans.
Aditya Birla Sun Life Insurance
Aditya Birla Sun Life Insurance Company Limited was started by a joint venture between Aditya Birla Group and Sun Life Financial INC. This life insurance company has more than 600 branches in more than 500 cities across the country.
This life insurance company offers many life insurance plans to its customers. Which includes children’s future plans, wealth protection plans, retirement and pension solutions, health plans, term insurance plans and Unit Linked Insurance Plans (ULIPs) etc.