Best Life Insurance Companies in India

Life is hugely uncertain these days. Anything could happen to anyone. Therefore, you must think of securing the future of your loved ones. For doing that, you must choose life insurance. It will help your family be independent even if you are not there. No matter how negative that sounds, it is never wrong to think about your dear ones’ lives. Therefore, today, we have listed of the best companies in India that offer life insurance. Let us take a look at each one of them –

1. LIC

LIC or Life Insurance Corporation of India is one of the oldest insurance companies in India. They offer life insurance with the claim settlement ratio of 98.31%. Additionally, it was founded in the year 1956. Many people in India claim that LIC is their first choice when it comes to life insurance. The best thing about LIC is that you can find their offices almost in every town in the country.

2. SBI Life Insurance

That is right; the State Bank of India also offers you life insurance. They are known to the best as they are incredibly trustworthy. As soon as you hear the name of SBI, you immediately recall how much you trust them with your money in their bank. That also becomes the reason why people do not overthink before buying their life insurances for them or their family.

3. ICICI Prudential Life Insurance

One of the topmost and highly popular names in life insurance is of the ICICI prudential life insurance in India. This company was founded in 2001, and ever since, they have tried to make the lives of many people extremely easy. This company is promoted by the ICICI Bank, which is a very well known bank in India. You can ask anyone in the country, and they will surely know the name of the ICICI Bank.

4. Bajaj Allianz

The offers that Bajaj Allianz offers is like no other insurance company. With wide customer service and highly functional management, they will let you choose life insurance right at your fingertips. This insurance company is a venture between two companies which are Bajaj and Allianz. Out of these two, Allianz is a German Company. As per IRDA, Bajaj Allianz is the best company that you can opt for to get your life insured.

5. Max Life Insurance

The rank of the Max Life insurance company is fifth in India. They have a range of clientele, and they hold innumerable clients across India. Over time, they have set their feet extremely firm and continue to offer people the best options and choices about life insurance. They also offer low premiums, so getting life insurance is easier for many people in the country.

6. HDFC Life Insurance Company

Another reliable Life Insurance Company in India is HDFC Life Limited. This company was founded in the year 2000, and it has its headquarters in Mumbai. HDFC Life was a joint venture between HDFC Limited and Standard Life. The company also has public shareholders. The main product of the company is life insurance which is better known as Protection Plans. You can choose between Term Life Insurance, Investment Plans and even Retirement Plans. There are many Combo Plans available from HDFC Life. The claim settlement ratio of HDFC Life is also very impressive.  Presently, the company has over 450 branches in India. The brand received several awards, and it has proved its ground in the Indian market. At present, the claim settlement ratio of the HDFC Life Insurance Company is 99.07%, and hence you can be assured about the safety of your family.

7. Tata AIA Life Insurance Company

Tata is known to be a company that works for the people of India. To help the citizens of India with their insurance needs, the brand came into a joint venture with AIA Group to offer insurance products to the masses. The brands were able to take advantage of the synergies created by the new joint venture. If you are buying a health insurance policy from Tata AIA, then let us tell you that their claim settlement ratio is 99.06% and the company is one of the most preferred brands for life insurance policies. Apart from the Life Insurances, Tata AIA also offers Wealth Solutions, Saving Solutions, Retirement Solutions and many other solutions. Tata AIA also offers some very innovative solutions to the people who are looking for a better value for money. If you are interested in policies from Tata AIA, then you can go ahead and check out the offerings from them by visiting their website.

8. Bharti AXA Life Insurance Company

Here is yet another joint venture that offers Insurance Services in India. This company was incepted in the year 2006, and it was a partnership between Bharti Enterprises as well as AXA Group. The company has a strong holding in the Indian market and that coupled with financial expertise, enables them to offer innovative services to the clients. The brand has its presence in over 120 cities, and it has a customer base of more than 1.5 million Indians. In 2019, the brand also received an award for excellence in this domain. As per the updates from August 2020, ICICI Lombard has acquired the company in a significant share swap deal. The services of the company will now further get better. Bharti AXA has an excellent claim settlement ratio, and they also have products in different domains.

9. Reliance Nippon Life Insurance Company

Another big name in the insurance domain is Reliance Nippon. This company was founded in the year 2001, and the last 19 years, the company claimed the places to be one of the best in India. At present, the company has over 10 million customers who have subscribed to the insurance services from Reliance. Reliance Nippon has 727 customer service branches, and they also have a significant presence online. Another plus point of buying the insurance policy from Reliance Nippon is that you can customize your plans too. Overall, the company offers excellent value for money plans, and they even received the Best Risk innovation of the Year award. You can even add some of the riders on your life insurance that can help your family in coping up with the inflation. We recommend you to check out other products from Reliance Nippon as well. You can contact them as well if you have any queries about their products and services.

10. AEGON Life Insurance Company

You might have seen offerings from AEGON Religare Life Insurance. The company was rebranded a few years back, and it is now known as Aegon Life Insurance Company. This insurance provider was set up in 2008. At present, this insurance company offers life insurance, term insurance, saving plans, investment plans, child plans and Unit Linked Insurance Plans. If you are fit and if you think that you may end up living till 100 years then you can even check out iTerm Plan from the company. This Plan will offer cover to you till you turn 100 years. The brand also came up with an insurance plan that would provide you with a pension as well as a life cover after you turn 60. The claim settlement ratio of the brand is 98.01%, and it also provides 24-hour claim settlement services. The insurance policies from Aegon Life covers Covid 19 Claims as well. Overall, the brand is quite a reliable brand for buying life insurance covers.

11. Aviva Life Insurance Company

Do you believe in the legacy of the old brands? Well, if you do, then here is one of the oldest Insurance Providers of the world. Aviva PLC was founded in the year 1696, and it came to India in 1834. Today, the brand has its presence in over 16 Global markets, and it has a customer base of over 34 Million. The brand believes in creating a legacy by caring for the customers and by killing the complexities. The top leadership of Aviva never rests, and they are always in the endeavour to provide the best services to the customers. Apart from offering term insurance covers, the brand also offers a wide array of saving plans, investment plans and even retirement plans. Aviva was also honoured with the award of Best and Most Trusted Brand of 2019. You can have a look at the offerings from Aviva if you are looking for a company that you can trust.

12. Aditya Birla Sun Life Insurance Company

Aditya Birla Sun Life Insurance Company was also founded in the year 2000. This is a subsidiary of Aditya Birla Capital Limited. This company was formed with the partnership of Aditya Birla Group and Sun Life Financials. You might not be aware of this, but Sun life Financials is one of the finest financial service organization in Canada. Apart from offering life insurance policies, the company also provides Term Insurance, Wealth Plans, Child Plans, Health Plans and Retirement Plans. The brand not only sells insurance policy online, but the majority of the contribution is from the online policies. The average settlement period of this brand is 2.5 to 3 days. The claim settlement for individual businesses is 97.54%, whereas it is 99.81% for Group businesses. With such numbers, Aditya Birla Sun Life Insurance turns out to be a reliable brand to buy insurance from.

13. Kotak Life Insurance Company

You can even try insurance plans from Kotak Life Insurance Company. This brand has the trust of over 30 million Indians, and the company is also one of the fastest-growing insurance company. Kotak Life Insurance Company believes in following a professional approach and offering innovative products. The brand also believes in continuous improvement so that the customer gets the best value for money. The staff at Kotak Life is people-friendly, and the base of all the dealings is dignity and compassion. If you are choosing products from Kotak Life, then you will be able to choose between 32 products, 18 riders and 10 ULIPs. You can check out their website to go through all the offerings and find the suitable one for yourself and your family.

14. PNB MetLife Insurance Company

PNB MetLife Insurance Company is the next on our list, and this company was formed by a partnership between multiple companies. The critical stakeholders behind PNB MetLife Insurance Company were PNB Bank, MetLife International holdings, Jammu & Kashmir Bank, M Pallonji and Company. The company was incepted in the year 2001, and since then it has spread across 107 locations in India. Today, the brand has over 100 million customers. You do not have to worry about the performance of the company since it is a profitable company. Even with 107 offices, the company is able to distribute its products in over 7000 locations. It has many distribution partners which help the people in buying the offerings from PNB MetLife Insurance Company.  The brand offers a smooth process to the customers, and it also received the award for Most Sustainable Company of India. You must visit their website to check out more details about their offerings.

15. Canara HSBC OBC Life Insurance Company

The last option on our list is Canara HSBC OBC Life Insurance Company. It is relatively a new brand since it was incepted in the year 2008. The brand was formed after the Canara Bank, Oriental Bank of Commerce and HSBC Insurance Came together to serve the customers of India. Today, the brand has over 60 million clients who trust their products and services. The Punjab National Bank also has significant stakes in the company. The brand has gained grounds in Tier 1, 2 & 3 markets in India, and it offers a lot of different offerings.


Above, we have mentioned five of the best companies that you can get your life insurance from. They are all extraordinarily, trustworthy, and accessible in India. Additionally, many of their services can be claimed online as well as offline. If you wish you to contact them, you just have to search them on the web and visit their official websites. We hope you choose life insurance soon.