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    9 Best Life Insurance Companies in India

    Are you looking for life insurance but perplexed about where you should purchase this life insurance?

    Don’t worry. We got your back. 

    Here in this article, we will discuss the 9 best life insurance companies in India. 

    So let’s dive into the article below and clear all your queries. 

    But before that let’s have a summarised knowledge of what is life insurance.


    What Is Life insurance?

    Life insurance generally refers to the agreement between any individual and the insurance company in which the latter promises are made to provide a sum assured that is death benefit to the family of the insured person in the misfortunate event of any sudden death.

    If there is no death, a sum assured named as the maturity benefit is also provided at the time of maturity of the policy. 

    There are also several insurance companies present in the market also offer optional coverage for critical illnesses. 

    Currently, there are 24 insurance companies which are offering insurance plans in India. Some of the top life insurance companies are given below. 

    Top 9 life insurance company 

    adity birla

    Aditya Birla Sun life insurance company 

    The famous Aditya Birla sun life insurance company came into existence when Aditya Birla group collaborated with sun life financial Inc. in 2000.

    This company is a pioneer in providing termed life insurance plans and unit-linked insurance plans. It has more than 600 branches spread across 500 cities throughout the country. 

    This life insurance company provides various life insurance plans that include term insurance plans, health plans, child plans, retirement plans, customized group products, ULIP products, life stage products, etc.

    Bajaj Allianz Life Insurance

    Bajaj Allianz Life Insurance

    Bajaj Allianz Life Insurance Company is one of the leading private life insurance companies in India.

    It is a joint venture that came into existence when Bajaj Finserv Limited owned by Bajaj Group of India and Allianz SE, a European Financial Services company. 

    The Bajaj Allianz life insurance Company limited provides innovative insurance solutions to their customers taking into consideration the time to the time change in their needs and requirements. 

    The Bajaj Allianz Life Insurance Company provides a large variety of life insurance products that serve different sections of society.

    Kotak Mahindra Life Insurance

    Kotak Mahindra Life Insurance

    Kotak Mahindra Life insurance company limited is another best and fastest-growing insurance companies in India. It is a joint venture that came into existence when Kotak Mahindra Bank Limited collaborated with Mutual Limited, a pan-African investment, savings insurance, and banking group operating. 

    This life insurance company provides an extensive range of financial products on life insurance to meet both corporate and individual investment needs. 

    The primary objective of this life insurance is to secure your future and makes sure that all your investments keep providing you with a profitable return. 

    This Company provides its customers with a wide range of affordable Life Insurance Policies.

    Bharti AXA Life Insurance Company

    Bharti AXA Life Insurance Company

    The Bharti AXA life insurance is a renowned life insurance company that is a collaboration between Bharti Enterprises, one of the leading business conglomerates of India, and the AXA Group, which is headquartered in Paris.

    This company is often found in the list of various life insurance companies in India. Not only it provides life insurance services, but also it is a prominent business institution in India that is interested in financial services, agriculture, and telecommunications. 

    The Bharti AXA Life Insurance Company provides various insurance policies, that includes saving plans, children’s education plans, term insurance plans, and ULIP plans. Along with that, Bharti AXA Life Insurance provides long-term value to its customers.

    HDFC Life Insurance Company

    HDFC Life Insurance Company

    HDFC Life Insurance Company is another best insurance companies which is a collaboration between Standard Life Aberdeen PLC and Housing Development Finance Corporation Limited. It start operating in 2000 and the headquarter of the company is in Mumbai, Maharashtra.

    HDFC life insurance company is one of the best life insurance companies in India that provides different types of life insurance plans to its customers, like protection plans, pension schemes, women’s plans, child plans, and health plans.

    Apart from all these schemes, this life insurance provider provides numerous insurance policies which are exclusively designed for women and children. 

    To improve the coverage, an insured person can add more riders to the insurance. Along with that, the HDFC Life insurance firm promises to settle claims in a single day while considering numerous terms and conditions to streamline the process of claim settlement for the less privileged.

    Max Life Insurance Company

    Max Life Insurance Company

    Max Life Insurance Company is the largest non-bank private sector insurance company in India founded in the year 2000.

    Max Life Insurance Company is a joint venture formed due to the collaboration between Indian Max India Ltd, a multi-business Indian corporation, and Mitsui Sumitomo Insurance Company, a Japanese Insurance Company.

     It is one of the fastest-growing insurance companies in India that have assets under management of INR 90, 407 crores and a customer base of more than 32 lakhs.

    Along with a strong online presence, a wide variety of products, multi-distribution channels, and offices throughout the country, Max Life Insurance Company delivers high-quality customer services. 

    It has been receiving awards and recognition consistently for its service. Along with a high claim settlement ratio, this has been awarded as ‘Claims Service Leader’ and ‘Excellence in Claims Service’ by CMO Asia Awards.

    ICICI Prudential Life Insurance

    ICICI Prudential Life Insurance Company is another major life insurance company which is promoted by ICICI Bank Limited and Prudential Corporation Holdings Limited and was founded in the year 2000.

    ICICI Prudential Life is considered one of the best insurance companies in India that have a presence all over the country today along with its strong bancassurance channel and multiple distribution channels.

    The assets of this life insurance company under management is INR 2,231.71 billion. With the customer-centric approach, this offers various long-term protection and savings plans to a diverse customer segment. 

    ICICI Prudential Life Insurance Company has been receiving many accolades and awards for its excellence in the field of insurance. 

    SBI Life Insurance Company 

    SBI life insurance company is one of the most popular life insurance companies in India. It is currently dealing with numerous life insurance products to cater to the needs of its customers including traditional life insurance plans, pension plans, savings plans, child plans, etc.

    SBI life insurance company is continuously striving to improve its operating efficiency and claim settlement procedure of it.

    SBI life insurance has 947 offices throughout India along with 28000 partner branches. 

    TATA AIA Life Insurance Company 

    TATA AIA Life Insurance Company is a joint venture of TATA AIG Life Insurance Company and AIA (American International Assurance), a Hong Kong-based Company. The strength of the company has been in the established position of TATA as a reliable brand in the Indian market.

    AIA is also one of the largest independent insurance group globally, that have crossed 18 markets in the Asia Pacific. The asset of tata AIA under management in 2019 is Rs. 28,430 Crores.

    The claim settlement ratio of this insurance company is 99.06% as per the latest data, with 3,659 claims paid.


    Life is very unpredictable.  You don’t know what happens in the next fraction of a second. 

    Having life insurance may not secure your life but it can surely secure the future of your beloved.

    As there is a lot of competition in this sector, we have clearly mentioned all the major life insurance.

    Then choose the best life insurance company and secure your future. 

    *image source from Google

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