Top 5 Life Insurance Companies in India New List (2021)

Life Insurance Companies in India: Nowadays it is very unpredictable what will happen tomorrow, and nobody can say about your future. so we try to claim compensation for possible losses in the future through an insurance policy.

at the present time insurance is very important and necessary for every people. Life insurance will help you to protect against any financial loss and it also secures your future.

but the various life insurance company at present on the internet, which provided different terms of benifit. so it may be difficult to choose the right plan. in this post, we talk about the Top 5 Life Insurance Companies in India 2021. from this list, you can choose the right one to insure you.

Top 5 Life Insurance Companies in India

1. Life Insurance Corporation of India

Life Insurance Corporation of India is the oldest and most trustable insurance company in India. The largest life insurance company is usually known as LIC. Since 1956 they provide well services for every Indian. Some of the popular services that are offered by the LIC company are life insurance plans, child insurance plans, group schemes, unit-linked plans, pension plans, and special plans.

Main Office of Life Insurance Corporation of IndiaJeevan Bima Marg, Yogakshema,
Post-Box No. 19953,
Mumbai – 400021 India
Name of the Present Chairman/CEOMr. M R Kumar (Chairman)
Official Website of LICwww.licindia.in
Claim settlement ratio of Life Insurance Companies in India97.79%
life insurance corporation of india

LIC of India is a well-known government-based company. It also has a famous slogan in the National language Hindi called – “Zindagi ke saath bhi, Zindagi Ke baad bhi”, which means the security of a person in life and even the afterlife. LIC has achieved ‘Best Life Insurance Company of the Year’. The total assets of Life Insurance Corporation in India under the management is 450 billion dollars to convert in Indian currency is Rs. 3,111,847 crores. The ratio of claim settlement of life insurance policies provided by this company is 97.79% with more than 25 crores of the successful claims paid. That is why LIC is getting the position of Top 10 Life Insurance Companies in India New List (2021)

2. HDFC Life Insurance Co. Ltd

HDFC Life Insurance Co. Ltd is the most famous life insurance company in India. The largest life insurance company is usually known as HDFC life. The company was established in 2000 and its headquarters located in Maharashtra (Mumbai). Some of the popular services that are offered by the HDFC Life Insurance Co. Ltd like saving plan, health insurance plan, pension, protection plan, special women plan and child plan.

Main Office of HDFC Life Insurance Co. Ltd13th Floor, Lodha Excellus,
Apollo Mills Compound,
N.M. Joshi Road, Mahalaxmi, Maharashtra
Mumbai 400011, India
Name of the Present Chairman/CEOMs. Vibha Padalkar (MD & CEO)
Official Website of HDFC life iswww.hdfclife.com
Claim settlement ratio of HDFC Life Insurance Co. Ltd99.04%
HDFC Life Insurance Co. Ltd

HDFC Life Insurance Co. Ltd is a joint venture between India’s largest finance association HDFC Ltd. and a well-known multinational investment company named Standard Life. The total assets of HDFC Life Insurance Co. Ltd under the management in Indian currency are Rs. 10,000 crores mark. HDFC Life Insurance Co. Ltd claim settled of life insurance policies ratio is 99.04% in which they have settled over 11,031 claims till now. For this reason HDFC life occupied by the Top 10 Life Insurance Companies in India New List (2021)

Top 5 Life Insurance Companies in India

3. Max Life Insurance Co. Ltd.

Max Life Insurance Co. Ltd. is the most famous joint venture life insurance company in India between Max Financial Services (Indian insurance company) and Mitsui Sumitomo Insurance Company (Japanese famous insurance company). The company provides very good service to secure the financial strength of its customers since the year 2000. Max Life Insurance Co. Ltd. offers many life insurance plans including child insurance, long-term savings, retirement plans, protection, group solutions plans, and a wide variety of investments, etc.

Main Office of Max Life Insurance Co. Ltd.3rd, 11th, 12th Floor, DLF Square Building,
Jacaranda Marg, DLF City,
Phase – II, Gurgaon – 122002, Haryana, India
Name of the Present Chairman/CEOMr. Prashant Tripathy (CEO & MD)
The official Website of MAX life iswww.maxlifeinsurance.com
Claim settlement ratio of Max Life Insurance Co. Ltd.99.2%
Max Life Insurance Co. Ltd.

The company has operates a network of 269 offices across India and its main office in New Delhi. The total assets of Max Life Insurance Co. Ltd. The total assets under the management are crossing Rs 50000 crores. Max Life Insurance Co. Ltd. claim paid 99.2% of life insurance policies ratio in which they have settled over 8,804 claims till now. That is why MAX life insurance stands in the position of Top 10 Life Insurance Companies in India New List (2021)

4. ICICI Prudential Life Insurance Co. Ltd

ICICI Prudential Life Insurance Co. Ltd is the most reliable life insurance company in India because it’s a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited. Usually, to fulfill the various life stage requirements of the customer in India, The company was founded in the year 2001 since its headquarters located in Mumbai, India. Some of the popular insurance services provide by the ICICI Prudential Life Insurance Co. Ltd are life insurance plan, Pension Plan, Long term investment plan, Child Plan, ULIP plan.

Main Office of ICICI Prudential Life Insurance Co. LtdICICI Prulife Towers
1089, Appasaheb Marathe Marg,
Prabhadevi, Mumbai – 400025 India
Name of the Present Chairman/CEOMr. N S Kannan (CEO & MD)
The official Website of ICICI Prudential iswww.iciciprulife.com
Claim settlement ratio of ICICI Prudential Life Insurance Co. Ltd98.58%
ICICI Prudential Life Insurance Co. Ltd

ICICI Prudential Life insurance is well-known for its strong bancassurance and client supportable approach made it one of the best life insurance companies in India. The total assets of ICICI Prudential Life Insurance Co. Ltd under the management are Rs. 1,604.10 crores. ICICI Prudential Life Insurance Co. Ltd. claim settled ratio is 98.58% of life insurance policies in which they have settled over 11,546 claims till now. The company has provides an array of services that allows the users to achieve the long-term intention. That is the reason ICICI Prudential is acquiring Top 10 Life Insurance Companies in India New List (2021)

Top 5 Life Insurance Companies in India

5. TATA AIA Life Insurance Co. Ltd.

TATA AIA Life Insurance Co. Ltd. is the most well-known life insurance company between Tata Sons Pvt. Ltd. and AIA Group Ltd. In this venture, Tata holds a majority of stake 75% whereas 26 % by AIA Group of company. The company was formed in the year 2001 and is recognized as one of the largest Indian life insurance companies in urban areas. TATA AIA life insurance presents various plans in multiple segments like a life insurance plan, wealth plan, group plan, protection plan, child plan, micro-insurance plan, and saving plan.

Main Office of TATA AIA Life Insurance Co. Ltd.14th Floor, Tower A, Peninsula Business Park,
Lower Parel, Senapati Bapat Marg,
Mumbai – 400013, India
Name of the Present Chairman/CEOMr. Rishi Srivastava (CEO & MD)
The official Website of TATA AIA iswww.tataaia.com
Claim settlement ratio of TATA AIA Life Insurance Co. Ltd.99.07%
TATA AIA Life Insurance Co. Ltd.

TATA AIA is a joint venture of TATA AIG Life Insurance Company and American International Assurance (AIA) company based in Hong Kong. The total assets of TATA AIA life insurance under the management are around Rs. 28,430 crores. The claim settlement ratio of TATA AIA Life Insurance Co. Ltd. is 99.07% backed with 3,659 claims paid till now. That is why TATA AIA is getting the position of Top 10 Life Insurance Companies in India New List (2021)

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Conclusion

Hope this article will help you to improve your knowledge about the Top 5 Life Insurance Companies in India. you can pick the right one as per your specific requirement. you can visit the online website or offline. if this article is helpful for you then share and comment below.