List of Best Life Insurance Companies in India

There are a slew of insurance companies in India, of which Life Insurance Corporation (LIC) is a public sector company. Rest of the companies is private insurance companies, while many among them are joint ventures between national or international banks and private or public sector banks. There are several private players that have bonded with international insurance companies to make progress in the insurance realm.

List of Insurance Companies in India

• AEGON Life Insurance Company- The claim settlement ratio is 95.30%. Being a joint venture between Bennett, Coleman and Company, AEGON aims at working based upon multiple channel distribution strategy. The company started its operations in the year 2008 and since then it has launched a range of products that aim towards improving the financial life of customers. These include endowment plan, term plan, ULIP plan, Group plan, saving plan, protection plan, ruler plan and child plan.

• Bharti AXA Life Insurance Company- This is one of the sought-after insurance companies in India. Having its headquarters in Mumbai, the company is joint venture between AXA Group and Bharti Enterprises. The company boasts a network of 123 offices and the maximum claim settlement ratio is marked at 80.00%. According to plan eligibility criteria, the minimum years of candidates is 18 years and the maximum years is 65. 

• Aviva Life Insurance Company- The claim settlement ratio is 82.00%. A joint company of Aviva Group and Dabur Group, the company has 121 networked center and also comes with a large customer base. The plans offered are available at a very economical price and they include ruler plan, protection plan, health plan, saving plan, group insurance plan, etc. 

• Birla Sun Life Insurance Company- Boasting millions of customers, the company is one of the leading insurance companies in India. The company is the outcome of Sun Life Financial Inc. merging with Aditya Birla Group. Also, the company is hailed as the pioneer in ULIP or Unit Linked Plan. The services offered by the company include child plan, retirement solution plan and health plan. The company has a claim settlement ratio of 88.45%. 

• HDFC Standard Life Insurance Company- This is a joint venture between Standard Life Plus and Housing Development Financial Corporation Ltd. Incepted in 2000, the company is today one of the leading insurance companies in India. Right now, the company holds 8 products in its portfolio. These include group insurance solutions such as health and saving plan, pension plan, and other individual plans like women plan, child plan, etc. The claim settlement ratio is 95.02%. 

• Exide Life Insurance Company- The claim settlement ratio is 83.13%. The company strated its operations in 2001 and was previously known as ING Vysya Life Insurance Company and kis rankled among Top 10 Trusted Insurance Companies in India. Available at feasible rates, this insurance plan offers you one-stop solution to its customers. 

• ICICI Prudential Life Insurance Company- The company is a joint venture between Prudential Plus and a pioneering private sector bank. The company also provides an array of products such as Child Plan, ULIP Plan, Investment Plan and term plan. The claim settlement ratio is 96.20%. 

• Edelweiss Tokio Life Insurance Company- The claim settlement ratio is 85.10%. The company was established in 2011 and is a joint venture of Tokyo Marine Holding and Edelweiss Group of India. The insurance products offered are child plans, savings plans, retirement plans, protection plans, etc.

Other than the above mentioned insurance companies, there are other companies in India that are among the best life insurance companies in India. Make your choice and pick a company that offers services to your best likings.