Top 10 Best Insurance Companies in India
One of the main investments a person can make in his lifetime is insurance. Be it health, vehicle, retirement plans, being insured is a major relief at any critical point in life. But to do that, they need to know the top insurance company, where they can put their hard-earned money.
So, here is the list of the ten best insurance providers in India.
10. HDFC Standard Life Insurance
HDFC Standard Life Insurance ranks tenth in the list the last position in the list. Established by Mr Hasmukhbhai Parekh in 2000, HDFC has its headquarters set in Mumbai, Maharashtra. The company has 500 branches in many Indian cities. HDFC Life offers Pension, Protection, Investment, Savings, Health, Children’s plans and Woman plans.
Website : www.hdfclife.com
9. Max Life Insurance
Standing at the ninth position, this company is the Joint venture between Mitsui Sumitomo Insurance Company Ltd and Max India Ltd, which was founded in 2000 by Mr Analjit Singh. The company is headquartered in New Delhi, India. Max Life Insurance offers Individual and Group Insurance.
Website : www.maxlifeinsurance.com
8. Bajaj Allianz Life Insurance
Bajaj Allianz is a joint partnership between Allianz and Bajaj Auto Limited. It was established in 2001 and has its corporate office in Pune, Maharashtra. Life & Health Insurance Plans, Term Plans, Pension Plans Traditional Plans, ULIPs, Women Insurance Plans are offered by this company.
Website : www.bajajallianz.com
7. ING Vysya Life Insurance
ING Vysya was started in 2001 and the corporate main office is in Bangalore, Karnataka. A joint venture between ING Insurance International B.V and Exide Industries, ING Life Insurance functions in 200 Indian cities. It has been serving more than 1 million policyholders with its insurance policies and retirement plans. It employs over 7500 professionals.
Website : www.exidelife.in
6. Tata AIG Life Insurance
Tata AIG stands sixth in the list, and is a partnership between the Tata Group and the American International Group (AIG). Tata holds 74% and AIG holds 26% of the share of the company. Founded in 2001 and headquartered in Mumbai, India, this company provides employment to over 2000 qualified individuals and has services offered in over 160 locations nationwide. Tata AIG offers Travel, Motor, Health, and Accidental Insurance.
Website : www.tataaiginsurance.in
5. ICICI Prudential Life Insurance
A joint venture between the highly reputed ICICI Bank and Prudential PLC, this is a premier international financial service group headquartered in the United Kingdom. It was established in 2000 and over 15000 people are currently employed in this company. With over 950 branches spread out in different locations, ICICI Prudential offers a wide range of schemes related to Life Insurance, Medical Insurance etc.
Website : www.iciciprulife.com/public/default.htm
4. Reliance Life Insurance Company (RLIC)
A baby of the Reliance Group, RLIC was established in 2001 and is headquartered in Navi Mumbai, Maharashtra. With individual and group insurance plans on the offer, this company has assets approximating 15000 Cr. To aid in the seamless functioning there are over 1, 24, 000 active agents and 1230 insurance branches. That said, RLIC has a total of 7 million policyholders.
Website : www.reliancelife.com
3. Birla Sun Life Insurance Company Limited (BSLI)
Born in 2000, BSLI is a partnership company between Aditya Birla Group and Sun Life Financial Inc., having approximately 1, 33, 000 employees. The present market value of the company stands at 21062 Cr.
Website : insurance.birlasunlife.com
Also Read : Top 10 Car Insurance Companies in India 2016
2. SBI Life Insurance Company Limited
SBI Life Insurance is a partnership between State Bank of India and BNP Paribas Assurance. SBI shares 74% while BNP Paribas Assurance has a 26% share of the capital. It came into existence in the March of 2001. Its head office is in Mumbai, Maharashtra. SBI Life Insurance offers schemes in Life Insurance as well as Pension Plan. The company employs over 7,500 people on-roll and has over 96,000 agents.
Website : www.sbilife.co.in
1. Life Insurance Corporation of India (LIC)
LIC was founded in the year 1956 and is the largest Insurance Company operating in India. Headquartered in Mumbai, Maharashtra, LIC offers its clients Endowment Plans like Jeevan Rakshak, Pension Plans like Jeevan Akshay VI, Money Back plans like New Bima Bachat and New Children’s Money Back Plan, Special plans and Group schemes.
Website : www.licindia.in