There are approximately 24 life insurance companies in India that offer various life cover products to the Indian citizens. Choosing the best ones among these can be done by analyzing some of their features like a good claim settlement ratio, solvency ratio, annual premiums and customer reviews. All of these factors together define a life insurance company that values its customers and takes their claims seriously.
We have listed the top 10 life insurance companies in India as per the claim settlement ratio (CSR):
S.no | Insurance Company | Solvency Ratio (2022-2023) | CSR (2022-2023) | Establishing Year |
1. | LIC of India | 1.8 | 98.74% | 1956 |
2. | Max Life Insurance | 2 | 99.34% | 2000 |
3. | HDFC Life Insurance | 1.9 | 98.66% | 2000 |
4. | ICICI Prudential Life Insurance | 2 | 97.82% | 2000 |
5. | Kotak Mahindra Life Insurance | 2.6 | 98.82% | 2001 |
6. | Aditya Birla Life Insurance | 1.9 | 98.07% | 2000 |
7. | Tata AIA Life Insurance | 1.9 | 98.53% | 2001 |
8. | SBI Life Insurance | 2.1 | 97.05% | 2000 |
9. | Bajaj Allianz Life Insurance | 6.1 | 99.02% | 2001 |
10. | PNB Metlife Life Insurance | 1.9 | 97.33% | 2001 |
Policyx .com is a web aggregator for insurance, commencing its operation in 2013. It aimed to provide its customers with expert guidance for choosing the right insurance product.
There are several reasons why should you choose policyx.com to purchase the best life insurance
The Policyx.com team has well-qualified insurance advisors who help you choose the correct life insurance Plans after Properly analyzing the requirements and needs of your family.
Purchasing a Life Insurance Plan Online makes you pay less premium than offline since online, less paperwork is required, and fewer steps should be taken, so all the other costs are waived off compared to offline purchases.
Even a seasonal insurance buyer has many questions regarding their term plans. Since you opt for long-term plans, you should have lots of queries from time to time. Seeing this scenario, Policyx has dedicated staff who work 24/7 to solve every inquiry of yours and support your family in tough times.
Since the tax filing season is approaching, almost everyone wants to save taxes on their hard-earned income by purchasing a life insurance Plan or other Plans from Policyx.com, which gives you instant tax receipts for saving taxes under sections 80C and 80D of the Income Tax Act 1961.
Several insurance companies have gained the trust of Indian citizens over the past decade, making decision-making quite tricky among customers. But wait, there are some parameters like CSR, Solvency Ratio, Annualized Premiums, Assets Under Management that can help you in deciding the top performers of the life insurance industry in India.
Compare and buy the most suitable Life Insurance Plan from the below-mentioned IRDAI-approved Life Insurance companies.
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Varun is a passionate content writer with over three years of experience in the insurance domain. An avid learner, he stays ahead of the industry's trends ensuring his writing remains fresh and includes the latest insurance shifts. Through his work, Varun strives to engage with targeted insurance readers.