Life Insurance Companies in India

Life Insurance is vast and a complex concept to understand. Life insurance policy not only provides comprehensive coverage to the family of the insurance holder but also secures their future financially in case of an eventuality. However, for most of the individuals, it seems to be a herculean task to decide which life insurance company they should invest in. So, in order to provide financial protection to the loved ones and have a sense of peace, it is very important to invest in right life insurance company in India.

Currently, there are 24 life insurance companies in India which is registered by Insurance Regulatory and Development Authority of India (IRDA). Among these, the Life Insurance Corporation of India (LIC) is the only public sector insurance provider in India, whereas, all others are the private sector insurance providers. Most of the private sector insurance companies are a joint venture between private/public sector banks and international/national financial insurance companies. In order to provide best financial solution to the insurance seekers most of the private sector life insurance companies has collaborated with the international insurance giants.

Best Life Insurance Companies in India with their Claim Settlement Ratio

S.NO

Life Insurance Companies Death Claim Received Claim Settlement   Ratio Death Claim Process

Claim Pending

1. LIC India Life Insurance 769386 98.31% 756399 0.42%
2. Max Life Insurance 9821 97.81% 9606 0.03%
3. HDFC Life Insurance 12724 97.62% 12421 0.46%
4. Aegon Life Insurance 588 97.11% 571 NIL
5. ICICI Pru Life Insurance 10901 96.68% 10539 0.33%
6. SBI Life Insurance 17610 96.69% 17027 0.75%
7. TATA AIA Insurance 2707 96.01% 2599 NIL
8. Exide Life Insurance 2973 96.40% 2866 NIL
9. Birla Sunlife Insurance 6048 94.69% 5727 0.79%
10. Reliance Life Insurance 11079 94.53% 10473 0.32%
11. Canara HSBC Insurance 653 94.95% 620 0.15%
12. Edelweiss Tokio Insurance 164 93.29% 153 NIL
13. Bharti Axa Insurance 878 92.37% 811 3.87%
14. Bajaj Allianz Insurance 16239 91.67% 14887 0.39%
15. Kotak Life Insurance 2831 91.24% 2583 0.67%
16. Aviva Life Insurance 1245 90.60% 1128 0.56%
17. DHFL Pramerica Life Insurance 471 90.87% 428 1.27%
18. IDBI Federal Life Insurance 1065 90.33% 962 0.66%
19. Sahara Life Insurance 725 90.21% 654 3.59%
20. Future Generali Life Insurance 1366 89.53% 1223 1.24%
21. PNB Metlife Life Insurance 3879 87.14% 3380 2.78%
22. Start Union Life Insurance 1473 84.05% 1238 1.09%
23. India First Life Insurance 1741 82.65% 1439 1.67%
24. Shriram Life Insurance 2926 63.53% 1859 10.01%

Life Insurance Corporation of India (LIC) Company

The Life Insurance Corporation of India is known as the pioneer of insurance in our country. Established in year 1956, LIC is known as one of the oldest and largest Insurance provider of India. Headquartered in Mumbai, the Life Insurance Corporation of India is a state owned insurance provider and investment company that offers an array of financial products to cater the requirement of its customers. Some of the common insurance products offered by the company are retirement plans, life insurance plans, child plans, group life insurance plans, Unit Linked Insurance Plans and Special Plans. LIC of India serves a huge customer base and has 5 zonal offices, 212 branch offices, and 33 divisional offices spread across all the cities of the country.  The LIC of India has a claim settlement ratio of 98.31% in year 2016-2017.

Top 5 plans offered by LIC are:

Plans Entry Age Maturity Age Policy Term Sum Assured
LIC Jeevan Akshay Minimum-30 years

Maximum-85 years

N/A N/A Rs.7190 Annually
LIC e- Term Plan Minimum-18 years

Maximum-60 years

75 years 10-35 years Minimum- Rs.25,00,000

Maximum- No Upper Limit

LIC Jeevan Anand Minimum- 18 years

Maximum-50  years

75 years 15-35 years Minimum- Rs.1,00,000

Maximum- No Upper Limit

LIC New Children’s Money Back Plan For Child- 0-12 years

For Proposer- 18-55 years

25 years 25 years Minimum-Rs.1,00,000

Maximum- No upper limit

LIC Jeevan Saral Minimum- 12 years

Maximum-60 years

70 years 10-35 years 250 times the monthly premium.

Max Life Insurance Company

Max Life Insurance Company is a collaboration between Max Financial Service Limited and Mitsui Sumitomo Insurance Company Ltd. MS&AD, one of the leading insurance providers of the world owns Mitsui Sumitomo Insurance Company and Max Financial Service Limited is a part of Max Group which is well known as one of the largest multi business corporation of India. As one of the best life insurance companies in India, Max Life Insurance Company serves a huge customer base and offers wide range of financial solution to its customers. The company has its branch offices across various different cities of the country and has created a strong foothold in the insurance sectors. The insurance products offered by Max Life Insurance ranges from retirement plans,  savings plans, protection plan, child plans, Unit Linked Insurance Plans, group plans, etc. The company has a claim settlement ratio of 97.81% from year 2016-2017.

Let’s take a look at the top 5 plans offered by Max Life Insurance Company.

Plans Entry Age Maturity Age Policy Term Sum Assured
Max Life Basic Life Cover Plan Minimum- 18 years

Maximum- 60 years

75 years 10-40 years Minimum- Rs.25,00,000

Maximum-Rs.100 crore

 

Max Life Super Term Plan Minimum- 18 years

Maximum-65 years

75 years 30 years Minimum-Rs.25,00,000

Maximum-No upper Limit

Max Life Shiksha Plus Super Minimum- 21 years

Maximum-50 years

For 5 pay- 60 years

For regular pay- 65 years

10,15 and 20 years 10 times the annualized premium
Max Life Guaranteed Income Plan Minimum-25 years

Maximum-60 years

67 years 6- 12 years For 6 years policy term.

Minimum-Rs.4,51,226

For 12 years policy term.

Minimium-Rs.2,73,986

Maximum- no upper limit

 

Max Life Forever Young Pension Plan Minimum-30 years

Maximum-65 years

 

—– Minimum-50 years

Maximum-75 years (less entry age)

 

 

Minimum – Rs 25,000 p.a.

Maximum – No Limit

HDFC Standard Life Insurance Company

As one of the best insurance companies in India, HDFC Standard Life Insurance Corporation of India is a joint venture between Standard Life Plus and Housing Development Financial Corporation Ltd. HDFC Standard Life Insurance started its operation in year 2000 and has made a strong foothold in the insurance sector since then. As one of the leading life insurance provider in the country, HDFC Standard life insurance offers one stop solution for all types of insurance and financial needs of the insurance seekers. The company offers its services to huge customer base and has over 414 branches across 900 cities and towns in the country. With a claim settlement ratio of 97.62% 2016-2017HDFC Standard life insurance has a record of 0.46% grievances settled in year 2016-2017.

The top 5 plans offered by HDFC Standard Life Insurance are:

Plans Entry Age Maturity Age Policy Term Sum Assured
HDFC Life Click 2 Protect Plus Minimum- 18 years

Maximum- 65 years

75 years  10-40 years Minimum- Rs.25,00,000

Maximum- No upper Limit

HDFC SL Crest Minimum-14 years

Maximum-55 years

65 years 10 years Minimum- entry age>45 years-10*yearly premium

entry age <45-7*yearly premium

Maximum-20 X annualized premium

HDFC Life YoungStar Super Premium Minimum-18 years

Maximum-65 years

65 years 10-20 years Minimum– Entry Age >45 years : 10 X AP

Entry Age = 45 years<: 7 X AP

Maximum– 40 x AP

HDFC Life Sanchay Minimum-30 days

Maximum-45 years

70 years 15-25 years Minimum-RS.1,05,673

Maximum-No upper limit

HDFC Life Uday Minimum- 18 years

Maximum- 55 years

70 years 12-15 years Minimum-Rs28,465

Maximum-No upper Limit

Aegon Life Insurance Company

Aegon is known as one of the leading financial service organization in the world.  The company is a collaboration Aegon and India’s top media conglomerate Bennett Coleman & Company. Aegon life insurance started its Pan-India operation in year 2008 and since then the company has come up as a strong market player in the field of the insurance sector. Aegon Life Insurance has a huge customer base and offers its services across various different cities of the country. The company offers a range of insurance products to cater the requirements of the insurance buyers.   Aegon Life Insurance has a claim settlement ratio of 97.11% in year 2016-2017.

Let’s take a look at the top 5 plans offered by Aegon Life Insurance Company.

Plans Entry Age Maturity Age Policy Term Sum Assured
Aegon Life I-Term Insurance Plan Minimum- 18 years

Maximum-65 years

75 years 5 years – 62 years Minimum-Rs.25,00,000

Maximum- No Upper Limit

Aegon Life Easy Protect Insurance Plan Minimum-20 years

Maximum-50 years

60 years 10 years Rs.12,00,000

Rs.10,000/per month for 10 years

 

Aegon Life Term Insurance Plan Minimum- 20 years

Maximum- 65 years

75 years 10,15,20,25,30,35,40 years Minimum- Rs.10,00,000

Maximum- No upper Limit

 

Aegon Life iReturn Insurance Plan Minimum- 18 years

Maximum- 65 years

75 years 5,10,15,20 years Minimum- Rs.30,00,000

Maximum-

Rs.4 crore

Aegon Life i-Guarantee Insurance Plan Minimum- 12 years

Maximum-50 years

56 years 6 years 10 X Annualized Premium

ICICI Prudential Life Insurance Company

As one of the best life insurance companies in India, ICICI Prudential Life Insurance is collaboration between one of the best private sector banks in India ICICI Prudential Life and the biggest international financial service group Prudential Plus. The company started its operation in India in year 2000 and has created a strong foothold in the insurance market since then. ICICI Prudential Life Insurance Company has established itself as one of the leading insurance providers in the country.  The company is well known for providing top class financial services to its customers and has a huge customer base. ICICI Prudential Life Insurance Company offers wide range of comprehensive insurance plans in order to fulfill the various requirements of the insurance buyers. It’s a one stop solution where the insurance buyers can buy policies ranging from protection plans, savings plans, child plans, ULIP Plans, endowment plans, retirement plans, group plans, etc. the company has a claim settlement ratio of 96.68%.

Top 5 plans offered ICICI Prudential Life Insurance Company are:

Plans Entry Age Maturity Age Policy Term Sum Assured
ICICI Prudential iProtect Smart Minimum- 18 years

Maximum-65 years

75 years 5-40 years Minimum– Subject to minimum premium

Maximum– No upper limit

ICICI Prudential Guaranteed Wealth Protector Plan Minimum- 8 years

Maximum- 60 & 70 years

Single pay- 80 years

Five pay-70 years

10 years Minimum- single pay- 1.25*SP

Limited Pay 7 or 10* annual premium

Maximum

Single pay-

10*SP for ages <35 years  or 1.25*SP for ages>= 35 years

Limited Pay- 30* annual premium

ICICI Prudential Smart Life Minimum- 20 years

Maximum-54 years

64 years 10 years, 25 years Regular Pay-

Minimum-Higher of (10* yearly Premium) and

(0.5*Plan term* yearly Premium)

Maximum- Higher of (7* yearly Premium) and (0.25*Policy term* yearly Premium)

One Pay-

Minimum-10* Single Premium

Maximum-

1.25* single premium

 

 

 

ICICI Prudential Cash Advantage Minimum-0 years

Maximum-60 years

80 years 15,17,20 years 7*Annual Premium or 10* Annual Premium
ICICI Prudential Easy Retirement Minimum-35 years

Maximum-70 years

80 years 10 years, 30 years —-

SBI Life Insurance Company

As one of the leading life insurance companies in India, SBI Life Insurance Company is a joint venture between BNP Paribas Cardif and State Bank of India. SBI Life Insurance Company is known as India’s largest private sector company. The company offers an inclusive range of comprehensive life insurance policies at a very affordable premium rate. The plans offered by SBI Life Insurance Company ranges from protection plan, retirement plan, savings plans, child plans, ULIP plans etc. With a claim settlement ratio of 96.69% in year 2016-2017, the company has a record of 0.75% of grievances settled in year 2016-2017.

Top 5 plans offered by SBI Life Insurance Company are:

Plans Entry Age Maturity Age Policy Term Sum Assured
SBI Life eShield Plan Minimum- 18 years

Maximum-65 years

75 years 30 years MinimumRs.35,00,000

Maximum- No upper limit

SBI Life Smart Money Planner Minimum- 18 years

Maximum-50,55,60 years

75 years 15,20, 25 years Minimum- Rs.1,00,000

Maximum-Rs.5,00,00,000

SBI Life Smart Humsafar Minimum- 18 years

Maximum-46 years

65 years 10,30 years Minimum-Rs.1,00,000

Maximum-Rs.5,00,00,000

 

SBI Life CSC Saral Sanchay Minimum-18 years

Maximum-55,60 years

70 years 10.15 years  

 

SBI Life Smart Power Minimum-18 years

Maximum-45 years

65 years 10,15,30 years Minimum

 

Higher of 10*annual premium

Or higher of 0.5*annual premium

 

Maximum-

 

20*annual premium

TATA AIA Life Insurance Company

As one of the leading insurance companies in India, TATA AIA Life Insurance Company is collaboration between AIA group and TATA Sons. In this collaboration, the TATA Sons holds the majority of the stakes i.e. 75% and AIA Group holds 26% of the stakes. TATA AIA Life Insurance Company offers a customer centric approach and provide one stop solution for all the insurance needs of the customer. An extensive range of insurance policies offered by TATA AIA Life Insurance includes savings plans, protection plan, retirement plan, child plans, group plan etc. With a claim settlement ratio of 96.01% in year 2016-2017 the company has a record of 100% grievances settled in year 2016-2017.

Top 5 plans offered by TATA AIA Life Insurance Company are:

Plans Entry Age Maturity Age Policy Term Sum Assured
TATA AIA Life Insurance Sampoorna Suraksha Minimum-18 years

Maximum-70,65 years

80 years 10,15,40 years Minimum-Rs.50,00,000

Maximum- No Upper Limit

TATA AIA Life Insurance iRaksha Supreme Minimum-18 years

Maximum-70 years

80 years 10,15,40 years Minimium-Rs.50,00,000

Maximum- No Upper Limit

TATA AIA Life Insurance iRaksha TROP Minimum-18 years

Maximum-65 years

75 years 10,15,30 years Minimum-Rs.50,00,000

Maximum- no upper limit

TATA AIA Life Insurance Super Achiever For Child-

Minimum- 0 years

Maximum-17 years

For life Assured-

Minimum-25 years

Maximum-50 years

 70 years 10-20 years 10* Annual Premium
TATA AIA Life Insurance Money Back Plus Minimum- 2 years

Maximum-51 years

75 years 16,20,24 years Minimum-Rs.2,00,000

Maximum-No upper limit

Exide Life Insurance Company

As one the leading and best insurance companies in India Exide Life Insurance Company was founded in year 2001. Formerly the company was known as ING Vysya Life Insurance Company Ltd. and is owned entirely by Exide Industries Ltd.  Exide Life Insurance Company has a huge customer base and has around 200 network offices around the different cities of India. The company is known as one of the top insurance companies in India. The Policies offered by Exide Life Insurance Company ranges from saving plans, protection plan, child plan, investment plan, retirement plan, etc. With a claim settlement ratio of 96.40%, the company has the record of 100% grievances settled.

Let’s take a look at the top 5 plans offered by Exide life Insurance Company.

Plans Entry Age Maturity Age Policy Term Sum Assured
Exide Life Smart Term Plan Minimum- 18 years

Maximum-65 years

75 years 10-30 years Minimum- Rs.10,00,000

Maximum- No upper limit

Exide life Wealth Maxima Minimum-18 years

Maximum- 55,65 years

75 years 10,15,20 years Minimum- 10*Annual Premium

Maximum- 7* Annual Premium

10*Annual Premium

Exide Life Income Advantage Plan Minimum- 9 years

Maximum-55,50 years

80 years 16,24, 30 years
Exide Life New Immediate Annuity Plan Minimum- 45 years

Maximum- 75 years

NA —- —-
Exide life Term Rider Minimum- 18 years

Maximum- 60 years

Minimum-Rs.50,00,000

Maximum- No upper limit

Birla Sunlife Life Insurance

As one of the best insurance companies in India Birla Sunlife Life Insurance Company has a huge customer base of 2.5 million. The company is collaboration between the renowned Aditya Birla Group and Sun Life Financial Inc. Birla Sunlife Life Insurance Company is known as the pioneer of Unit Linked Insurance Plans in India. The company has over 600 network offices around 500 different cities in India and offers a wide range of comprehensive insurance policies to fulfill the requirements of the insurance buyers. With a claim settlement ratio of 96.69%, the company has the record of 0.79% grievances settled.

Let’s take a look at the top 5 plans offered by Birla Sunlife Life Insurance Company.

Plans Entry Age Maturity Age Policy Term Sum Assured
Birla Sunlife Life Income Shield Plan Minimum- 18 years

Maximum- 50 years

75 years 10-40 years Minimum-Rs.5,00,000

Maximum-No Upper Limit

Birla Sunlife Life Shield Plan Minimum- 18 years

Maximum- 65 years

80 years 10,20,50 years Minimum- Rs.25,00,000

Maximum-No upper limit

Birla Sunlife Life DigiShield Plan Minimum- 18 years

Maximum- 65 years

80 years 5-40 years Minimum-

Rs.30,00,000

Maximum- No Upper Limit

Birla Sunlife wealth Secure Plan Minimum- 30 days

Maximum- 60 years

75 years Whole Life —-
Birla Sunlife Immediate Annuity Plan Minimum- 30 years

Maximum-90 years

—- —-

Reliance Life Insurance Company

One of the leading insurance companies in India Reliance Life Insurance Company is a part of Reliance Group and Reliance Capital. The company has a huge customer base and has over 1,230 branch offices across various different cities of India. The company is presently the biggest non-banking private life insurance provider in India. The Policies offered by Reliance Life Insurance Company ranges from saving plans, protection plan, child plan, investment plan, retirement plan, etc. With a claim settlement ratio of 94.53%, the company has the record of 0.32% grievances settled.

Let’s take a look at the top 5 plans offered by Reliance Life Insurance Company.

Plans Entry Age Maturity Age Policy Term Sum Assured
Reliance Nippon Life Term Plan Minimum- 21 years

Maximum-60 years

65 years 30 years Minimum-Rs.5,00,000

Maximum-No Upper Limit

Reliance Nippon Life Online Income Protect Minimum-18 years

Maximum- 55 years

75 years 10,15,20,25,30,35 years Minimum-Rs.35,00,000

Maximum-No Upper Limit

Reliance Nippon Life Classic Plan II Minimum- 7 years

Maximum-60 years

75 years 15,30 years —-
Reliance Nippon Lifelong Savings Plan Minimum- 7 years

Maximum-55 years

70 years 15,30 years Minimum- Rs.80,000

Maximum-no upper limit

 

Reliance Nippon Life Education Plan Minimum- 20 years

Maximum-50 years

65 years 9,20 Minimum- Rs.50,000

Maximum- No Upper Limit

Canara HSBC OBC Life Insurance

Started its operation in year 2008, Canara HSBC OBC Life Insurance Company is a collaboration between one of the leading insurance company in world HSBC Insurance Holding Ltd. and two public sectors banks in India Canara and Oriental Bank of Commerce. As one of the top insurance companies in India, Canara HSBC OBC Life Insurance is known for providing one stop solution for all the insurance and financial needs on the individuals. The company shares a huge customer base and offers an array of comprehensive insurance products to fulfill the requirements of the insurance buyers. Some of the plans offered by Canara HSBC OBC Life Insurance Company includes protection plan, savings plans, retirement plans, investment plans, etc. With a claim settlement ratio of 94.95% in year 2016-2017, the company has a record of only 0.15% pending claims in year 2016-2017.

Top 5 plans offered by Canara HSBC OBC life Insurance Company are:

Plans Entry Age Maturity Age Policy Term Sum Assured
Canara HSBC iSelect Term Plan Minimum- 18 years

Maximum-70 years

80 years 5-40 years Minimum-Rs.25,00,000

Maximum-No upper Limit

Canara HSBC Jeevan Nivesh Plan Minimum- 18 years

Maximum-45,55 years

80 years, 75 years 10,15,20,25,30 Annual Mode-

Minimum-Rs.3,00,000

Monthly Mode-

Mininum-Rs.5,00,000

Maximum- No upper Limit

Canara HSBC Money Back plan Minimum- 8 years

Maximum-55 years

71 years 16 years Minimum-Annual Mode-

Rs.2,00,000

Monthly Mode-

Rs.3,00,0000

Maximum- No Upper Limit

Canara HSBC Smart Suraksha Plan Minimum- 18 years

Maximum-65 years

75 years 10,15,20,25,30 Minimum-Rs.20,00,000

Maximum- No Upper Limit

Canara HSBC Smart Future Income Plan Minimum- 18 years

Maximum- 55 years

80 years 25 years 100 times the chosen monthly income

Edelweiss Tokio Life Insurance Company

Edelweiss Tokio Life Insurance is a recently formed private sector insurance company in India, which started its operation in year 2011. The company is collaboration between Edelweiss Group of India and Tokyo Marine Holding of Japan. Since its formation, the company is rapidly growing and making a strong foothold in the field of the insurance sector. Edelweiss Tokio Life Insurance company offers an array of insurance products to cater the requirements of the insurance seekers. With a claim settlement ratio of 93.29% in year 2016-2017, the company has a record of 100% grievances settled.

Top 5 plans offered by Edelweiss Tokyo Life Insurance Company are:

Plans Entry Age Maturity Age Policy Term Sum Assured
Edelweiss Tokyo Life Total Secure Plus Plan Minimum- 18 years

Maximum-65 years

80 years 10-62 years Minimum- Rs.25,00,000

Maximum- No upper limit

Edelweiss Tokyo Online Term Life Insurance plan Minimum-18 years

Maximum-60 years

80 years 10,15,20,15,30,35,40 years Minimum-Rs.25,00,000

Maximum- No Upper limit

Edelweiss Tokyo Life Wealth Plus Minimum- 1 years

Maximum- 55 years

70 years 10-20 years 10X Annual Premium
Edelweiss Tokyo Wealth Accumulation Plan Minimum-5 years

Maximum-65 years

75 years 10,15,20,25,30 years —-
Edelweiss Tokyo Zindagi Plus Minimum-18 years

Maximum-65 years

80 years 10,15-62 years Minimum-Rs.25,00,000

Maximum-No upper limit

Bharti AXA Life Insurance Company

As one of the best life insurance companies in India, headquarter of Bharti AXA Life Insurance Company is situated in Mumbai. The Company is collaboration between AXA Group and Bharti Enterprises. The company is rapidly growing and offers and extensive range of insurance policies to fulfill the requirement of the insurance seekers. Bharti AXA life Insurance Company has around 123 network offices spread across various different cities of the country. With a claim settlement ratio of 92.37% the company in year 2016-2017, the company has a record of maximum grievances settled.

Top 5 plans offered by Bharti AXA Life Insurance Company are:

Plans Entry Age Maturity Age Policy Term Sum Assured
Bharti AXA Income Protection plan Minimum-18 years

Maximum- 50,55,58 years

70 years 12,15,20 years Minimium-Rs.5,00,000

Maximum- No Upper Limit

Bharti AXA Flexi Term plan Minimum- 18 years

Maximum- 65 years

85 years 10,15,20,25 years Minimum-Rs.10,00,000

Maximum- No upper Limit

Bharti AXA Secure Confident Minimum- 18 years

Maximum-55 years

60 years 5,10,15,20,25 years —-
Bharti AXA Guaranteed Income Plan Minimum- 3 years

Maximum-55 years

70,74,78,80 15,19,23,29 Minimum-Rs.25,000

Maximum- No Upper Limit

Bharti AXA Future Invest Plan Minimum-18 years

Maximum-59 years

69 years 10 years Minimum-Higher of 10*annual premium

Or

0.5*PT* AP

Bajaj Allianz Life Insurance Company

Bajaj Allianz Life Insurance Plan is collaboration between a well-established European Financial service providing company Allianz SE and Bajaj Finserv Ltd. The company has emerged as one of the top insurance companies in India. Bajaj Allianz Insurance Company offers an extensive range of insurance policies to meet the needs of the insurance buyers. Some of the plans offered by Bajaj Allianz Life Insurance Company include protection plans, investment plans, savings plans, child plans, etc. The company has a claim settlement ratio of 91.67% and has a record of maximum number of grievances settled in year 2016-2017.

Let’s take a look at the top 5 Plans offered by Bajaj Allianz Life Insurance Company.

Plans Entry Age Maturity Age Policy Term Sum Assured
Bajaj Allianz iSecure Plan Minimum-18 years

Maximum- 60 years

28-70 years 10,15,20,25 years Minimum-Rs.2,50,000

Maximum-Rs.20,00,000

Bajaj Allianz future gain Plan Minimum-1 years

Maximum-60 years

18-70 years 10 years —-
Bajaj Alllianz Young Assure Plan Minimum-1 year

Maximum-60 years

 

70 years 10-30 years —-
Bajaj Allianz Retire Rich Minimum- 30 years

Maximum-73 years

80 years 7-30 years —-
Bajaj Allianz Lifelong Assure plan Minimum- 10 years

Maximum-55 years

Upto 100 years 100 years Rs.1,00,000

Kotak Mahindra Life Insurance Company

Kotak Mahindra Lie Insurance Company is a collaboration between Kotak Mahindra and Old Mutual. In this collaboration, Kotak Mahindra holds 76% of the stake and the rest 26% of the stake is hold by the Old Mutual. The company is known to be one of the most reputed and trusted banking and financial service provider in country and has established itself as one of the best insurance companies in India. Kotak Mahindra Life Insurance Company offers an inclusive range of financial solutions to the individuals.  According to one’s own requirement and suitability, the insurance buyers can choose from the array of policies offered by the company which includes protection plan, investment plans, retirement plans, savings plans etc. In year 2016-2017, the company has a claim settlement ratio of 91.24% and has only 0.67% of pending claims.

The top 5 policies offered by Kotak Mahindra life Insurance Company are:

Plans Entry Age Maturity Age Policy Term Sum Assured
Kotak Mahindra Preferred term plan Minimum- 18 years

Maximum-65 years

75 years 5-40 years Minimum-Rs.25,00,000

Maximum- No upper Limit

Kotak Mahindra e-Assured Savings Minimum- 3 years

Maximum-60 years

75 years 10,15,20 Determined on the basis of entry age, policy term and premium amount
Kotak Mahindra Lifetime income Plan Minimum- 18 years

Maximum-99 years

—- Till the annuitant is alive —-
Kotak Mahindra Single Invest Plus Minimum-18 years

Maximum-52,55 years

65,67 years 10,15 years 1.25 times the single premium

10 times the single premium

Kotak Mahindra Income Protection Plan Minimum-18 years

Maximum-  60 years

70 years 10,17,20,30 years —-

Aviva Life Insurance Company

Aviva Life Insurance Company is one of the most popular and leading insurance company in the India. The company is collaboration between Dabur Group and Aviva Group.  Aviva Life insurance Company serves a huge customer base and has over 121 network offices across various different cities of the country. Aviva Life Insurance Company is known first to introduce Unit Linked Insurance Plans. Besides this, the company offers wide range of insurance products to fulfill the needs of the insurance seekers. The company has a claim settlement ratio of 90.60% in year 2016-2017 and has only 0.56% of pending claims.

Top 5 plans offered by Aviva Life Insurance Company are:

Plans Entry Age Maturity Age Policy Term Sum Assured
Aviva Life i-Sheild Plan Minimum-18 years

Maximum-55 years

65 years 10,25 years Minimum-Rs.15,00,000

Maximum-Rs.5,00,00,000

Aviva Life i-Life Plan Minimum- 18 years

Maximum-55 years

70 years 10,25 years Minimum-Rs.25,00,000

Maximum- No Upper Limit

Aviva Life Shield Advantage Plan Minimum-18 years

Maximum- 55 years

65 years 10,30 years Minimum-Rs.2,00,000

Maximum- No upper limit

Aviva Life Shield Platinum Plan Minimum-18 years

Maximum-60 years

70 years 10,52 years —-
Aviva Life i-Term Smart Minimum- 18 years

Maximum-65 years

80 years 10-70 years Minimum-Rs.75,00,000

Maximum-Rs.25,00,00,000

DHFL Pramerica Life Insurance Company

Headquartered in Gurgaon, DHFL Pramerica Life Insurance Company is known one of the well-established insurance companies in India. The company has over 62 registered offices and a strength of 2000 employees spread across various different cities of the country. The company provides various types of insurance policies to meet the requirements of the insurance buyers. The company has a claim settlement ratio of 90.87% in year 2016-2017 and has only 1.27% of pending claims.

Top 5 plans offered by DHFL Pramerica Life Insurance Company are:

Plans Entry Age Maturity Age Policy Term Sum Assured
DHFL Pramerica U-Protect plan Minimum- 18 years

Maximum- 55 years

65 years 10,30 years Minimum- Rs.25,00,000

Maximum- No Upper Limit

DHFL Pramerica family First plan Minimum- 18 years

Maximum-50  years

65 years 10,30 years 20* Monthly Income Chosen
DHFL Pramerica Smart Wealth plus Plan Minimum- 8 years

Maximum- 55 years

75 years 20 years —–
DHFL Pramerica Raksha Plus plan Minimum- 18 years

Maximum-55 years

65 years 15,20,25 Minimum-Rs.1,00,000

Maximum-Rs.5,00,00,000

DHFL Pramerica Flexi Cash Plan Minimum-8 years

Maximum-40,50,60 years

75 years 15,25,35 years Minimum-Rs.1,70,000

Rs.2,00,000

Maximum-No Upper Limit

IDBI Federal Life Insurance Company

Started its operation in 2008, IDBI Federal Life Insurance Company is collaboration between a European Insurance Company Aegas and IDBI Bank and Federal Bank. The company has 2137 partnered network branches over the various different cities of the country. IDBI Federal Life Insurance Company offers an extensive range of insurance plans to meet the requirements of the insurance buyers. The plans offered by IDBI federal life insurance company ranges from protection plan to savings plans, child plan, and investment plans, etc.

Let’s take a look at the top 5 plans offered by IFDBI federal Life Insurance.

Plans Entry Age Maturity Age Policy Term Sum Assured
IDBI Federal Whole Life Savings Insurance Plan Minimum-18 years

Maximum-55 years

100 years  

 

Depending on the entry age and premium payment term
IDBI Federal Savings insurance Plans Minimum-18 years

Maximum-55 years

75 years 10,25 years Depending on the age and premium amount
IDBI Federal iSurance Flexi Term Plan Minimum- 18 years

Maximum-60 years

80 years 10,62 Minimum-Rs.50,00,000

Maximum-Rs.30,00,00,000

IDBI Federal Wealth Growth Insurance Plan SP Minimum-18 years

Maximum-70 years

75 years 5,10,15,20,25 years —-
IDBI Federal Income Insurance Guaranteed Money Back Plan Minimum- 18 years

Maximum-55 years

65 years 10 years —-

Sahara Life Insurance Company

Started its operation in year 2004, Sahara Life Insurance Company is one of the leading private sector insurance company in the India. The company has a huge customer base and offers an extensive range of insurance products to meet the needs of the insurance byers. According to one’s own requirement, the insurance buyers can choose from various different policies offered by the company like endowment plan, money back policy, annuity, savings plans, etc. With a claim settlement ratio of 90.21%, the company has the record of only 3.59% of claims pending.

Let’s take a look at the top 5 plans offered by Sahara Life Insurance Company.

Plans Entry Age Maturity Age Policy Term Sum Assured
Sahara Shreshta Nivesh Single Premium Endowment Assurance Minimum-9 years

Maximum-60 years

70 years 5,10 years Minimum-Rs.30,000

Maximum-Rs1,00,00,000

Sahara Payback Jeevan Bima Policy Minimum-16 years

Maximum-50 years

70 years 12,16 and20 years Minimum-Rs.75,000

Maximum-Rs.1,00,00,000

Sahara Dhanvriddhi Jeevan Bima Minimum-9 years

Maxmum-60 years

70 years 9,12,15 years Minimum-Rs.50,000

Maximum-Rs.1,00,00,000

Sahara Dhanvarsha Jeevan Bima Minimum-15 years

Maximum-55 years

70 years 15,20 years Minimum-Rs.75000, thereafter  in multiple of Rs.5000

Maximum- N.A

Sahara Sanchit Jeevan Bima Minimum-18 years

Maximum-65 years

75 years 5,10 years Up to 45 years- 125% of the single premium

45 years and above-110% of single premium

Future Generali Life Insurance Company

Formed in year 2007, Future Generali Life Insurance is collaboration between Future Group, Industrial Investment Trust Ltd, and Generali Group. The company has over 96 network offices spread across various different cities of the country. With an aim of providing one stop solution for all the financial needs of the individuals, Future Generali Life Insurance offers different types of insurance policies ranging from ULIP plans, Group plans, term insurance plans, etc. The company has a claim settlement ratio of 89.53%.

Top 5 plans offered by Future Generali Life Insurance:

Plans Entry Age Maturity Age Policy Term Sum Assured
Future Generali Flexi Online Term Plan Minimum-18 years

Maximum-55 years

75 years 10 years Minimum-Rs.50,00,000

Maximum- No upper limit

Future Generali Assure Plus Minimum-3 years

Maximum- 55 years

70 years 15,20,25 Minimum-Rs.1,00,000

Maximum-Rs.5,00,00,000

Future Generali New Assure Plus Minimum-3 years

Maximum-55 years

70 years 10-30 years Minimum-Rs.1,00,000

Maximum-No upper limit

Future Generali wealth Protect Plan Minimum-7 years

Maximum-60 years

75 years 15-40 years —-
Future Generali Dhan Vridhi Minimum-8 years

Maximum-60 years

70 years 10,15,20 years —-

PNB Metlife Life Insurance Company

As one of the best life insurance companies in India PNB Metlife Life Insurance is collaboration between MetLife International Holdings Inc. and Punjab National Bank Ltd. PNB Metlife Life Insurance Company started its operation in year 2001 and since then has created a strong foothold in the field of the insurance sector. The company offers an extensive range of comprehensive insurance policies to cater the requirements of the insurance buyers. Some of the plans offered by PNB Metlife life insurance include protection plans, savings plans, pension plans, etc. The company has a claim settlement ratio of 87.14% in year 2016-2017.

Let’s take a look at the top 5 plans offered by PNB Metlife Life Insurance.

Plans Entry Age Maturity Age Policy Term Sum Assured
PNB Metlife Mera Term Plan Minimum-18 years

Maximum-65 years

99 years,75 years Minimum-Rs.10,00,000

Maximum- No Upper Limit

PNB Metlife Guaranteed Savings Plan Minimum-3,8 years

Maximum-60 years

70,75,80 years 10,15,20 years Minimum-Rs.4,00,000

Rs.2,00,000

Rs.1,50,000

Maximum- No Upper Limit

PNB Metlife Dhan Samridhi Plan Minimum-8 years

Maximum-65 years

10 years 10 or 1.25 times the single premium
PNB Metlife Smart Platinum Minimum-7 years

Maximum- 70 years

99 years N/A Subject to underwriting
PNB Metlife Money Back Plan Minimum-13 years

Maximum-55 years

65 years 10 years Minimum-Rs. 2,50,000

Maximum- no upper limit

Star Union Dai Ichi Life Insurance Company

Star Union Dai Ichi Life Insurance is collaboration between the Union Bank of India, the bank of India and one of the leading life insurance companies in Japan Dai-Ichi Life. As one of the well know insurance provider in India, the company offers an array of insurance solutions to fulfill the requirement of insurance buyers. The company is flourishing rapidly and developing a huge customer base. With a claim settlement ratio of 84.05% in year 2016-2017, the company has a record of only 1.09% of pending claims.

The top 5 plans offered by Star Union Dai-Ichi life Insurance are:

Plans Entry Age Maturity Age Policy Term Sum Assured
SUD Life Premier Protection Plan Minimum-18 years
Maximum-60 years
10-30 years Minimum-Rs.25,00,000

Maximum-Rs.1,00,00,000

SUD Life Abhay Minimum-18 years

Maximum-65 years

80 years 15,40 years Minimum-Rs.50,00,000

Maximum-Rs.1,00,00,000

SUD Life Jeevan Ashray Minimum-8 years

Maximum-40 years

70 years 10,15,20 years Minimum-Rs.2,00,000

Maximum-Rs.50,00,000

SUD Life Aayusmaan Minimum-18 years

Maximum-50 years

70 years 15,20,25,30 years Minimum-Rs.1,50,000

Maximum-Rs.1,00,00,000

SUD Life Aadarsh Minimum-8 years

Maximum- 55 years

65 years 10 years Rs.50,000

Rs.3,00,000

Rs.5,00,000

India First Life Insurance Company

India First Life Insurance Company is a collaboration between Bank of Baroda, India Public Sector bank, Andhra Bank and investment company of UK Legal & General. Started its operation in year 2009, the company’s main office is located at Mumbai. The company offers an array of insurance products to cater the requirement of the customers. With a claim settlement ratio of 82.65%, the company is growing rapidly in the insurance sector.

The top 5 plans offered by India First Insurance Company are:

Plans Entry Age Maturity Age Policy Term Sum Assured
India First Life Plan Minimum- 18 years

Maximum-60 years

70 years 40 years Minimum-Rs.1,00,000

Maximum-Rs.50,00,00,000

India First Anytime Plan Minimum-18 years

Maximum-60 years

70 years 5-40 years Minimum-Rs.10,00,000

Maximum-Rs.5,00,00,000

India First Maha jeevan Plan Minimum-5 years

Maximum-55 years

70 years —- Minimum-Rs.50,000

Maximum-Rs.20,00,00,000

India First Life Cash back Plan Minimum-15 years

Maximum-45,50 and 55 years

70 years 9,12,15 years Minimum-Rs.50,000

Maximum- no upper limit

India First Simple Benefit Plan Minimum-18 years

Maximum-50 years

70 years Minimun-Rs.20,000

Maximum-Rs.5,00,000

Shriram Life Insurance Company

Started its organization in year 2005, Shriram Life Insurance Company is a collaboration between Shriram Group and Sanlam Group. The company has around 630 network offices across the various different cities of the country. The company offers different types of insurance products at a very affordable premium rate. With a claim settlement ratio of 63.53%, Shriram Life Insurance Company is rapidly growing as one of the best insurance companies in India.

Let’s take a look at the top 5 plans offered by Shriram Life Insurance Company.

Plans Entry Age Maturity Age Policy Term Sum Assured
Shriram Easy Life Cover Minmum-18 years

Maximum-99 years

50 years 5 years Minimum- Rs.65,000

Maximum- Subject to underwritten policy

Shriram Life Smart Protection Plan Minimum-18 years

Maximum- 65 years

75 years 10-30 years Minimum-Rs.1,00,000

Maximum-Rs.14,00,000

Shriram Life Secure plus Plan Minimum-18 years

Maximum-50 years

70 years 10,15,20 years Minimum-Rs.5,00,000

Maximum-Rs.20,00,000

Shriram Life Cash Back Term Plan Minimum-12 years

Maximum-50 years

70 years 10,15,20,25 Minimum-Rs.2,00,000

Maximum-Rs.20,00,000

Shriram Life  Family protection plan Minimum- 18 years

Maximum-60 years

75 years 10-25 years Minimum-Rs.15,00,000

Maximum-Rs.5,00,00,000

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