When it comes to purchasing a life insurance policy, it's important to choose the right one that fits your budget as well as fulfils your requirements. Based on the IRDAI report, India is the tenth-largest insurance market in the world.
So it's hard to pick one because there are lots of them, as well as their characteristics, may vary from company to company. For instance, some of them provide wide coverage at lower premiums, while other insurer offers extra benefits with higher
premiums.
We've created a list of all the life insurance providers in India to make it easy for customers to select the best life insurance company for themselves.
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LIC (Life Insurance Corporation of India)
LIC (Life Insurance Corporation of India) is one of India's largest insurance companies. For life insurance buyers, LIC should be on the consideration lists due to its
high claim settlement ratio. Since its establishment in 1956, the insurer has been rewarded with several awards and accolades. It has always been considered a safe insurance scheme because LIC is a government-backed entity. However,
investing in government-backed insurance policies will surely give prospective buyers a sense of security as well.
Policies Offered
- Insurance Plans
- Endowment Plans
- Pension Plans
- Unit Linked Plans
- Micro Insurance Plans
- Withdrawn Plans
- Whole Life Plans
- Money Back Plans
- Term Assurance Plans
Life Insurance Riders
- Linked Accidental Death Benefit Rider
- Accidental Death and Disability Benefit Rider
- Accident Benefit Rider
- Premium Waiver Benefit Rider
- New Critical Illness Benefit Rider
- New Term Assurance Rider
- Premium Waiver Benefit Rider (With Auto Cover)
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HDFC Life Insurance Company Limited
HDFC Life Insurance is a joint venture between HDFC (Housing Development Finance Corporation Ltd) and Abrdn Investment Company. It is one of the most trustworthy
insurance providers in the Indian insurance market due to its tailor-made plans to fulfill the requirements of buyers. It is currently India's leading financial service provider, offering finance in various sectors such as housing,
banking, life insurance and general insurance, education, Etc. In addition to this, it has more than 350 branches pan India in order to meet the various needs of the buyers.
Policies Offered
- Term Insurance Plans
- Savings Plans
- ULIP Plans
- Retirement - Annuity Plans
- Retirement - Pension Plans
- Child Plans
- Group Insurance Plans
Life Insurance Riders
- Income Benefit on Accident Disability Rider
- Accidental Death Disability and Dismemberment Benefit Rider
- Critical Illness Plus Rider
- Term Rider
- Protect Plus Rider
- Group Illness Rider
- Critical Illness Rider
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SBI Life Insurance Company Limited
SBI Life Insurance is known for offering a wide range of plans to fulfill both individual and group customers through Protection, Pension, Savings, and Health solutions.
For group life insurance buyers, SBI Life Insurance should be on the consideration list due to its additional riders. However, the insurer aims to make insurance accessible to everyone, with its wide existence of 1,011 offices across
India.
Policies Offered
- Wealth Creation with Insurance
- Retirement Plans
- Child Plans
- Money Back / Income Plans
- Combo Plans
- Online Plans
- Saving Plans
- Protection Plans
Life Insurance Riders
Indvidual Riders
- Accidental Death Benefit Rider
- Accidental Total and Permanent Disability Benefit Rider
- Preferred Term Rider
Group Riders
- Accidental Total Permanent Disability
- Accidental Partial Permanent Disability
- Additional Extended Critical Illness
- Additional Core Critical Illness
- Accident and Sickness Total Permanent Disability
- Accident Death Benefit
- Accelerated Extended Critical Illness
- Accelerated Core Critical Illness
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ICICI Prudential Life Insurance Company Limited
ICICI Prudential Life Insurance offers a wide range of insurance plans, along with extra benefits as well as comprehensive coverage. Since its establishment
in 2001, it has continuously been amongst the country's leading insurance providers. With a CSR (Claim Settlement Ratio) of 97.82%, it offers long-term investment plans and life insurance products. It is basically engaged in the life
insurance and asset management business. However, the insurer offers higher sum assured plans along with additional riders such as accidental death, critical illness, and terminal illness.
Policies Offered
- Term Insurance
- Term Insurance With Returns
- Unit Linked Insurance Plans
- Guaranteed Return Plans
- Child Plans
- Retirement and Pension Plans
- Savings / Endowment Plans
Life Insurance Riders
- Income benefit rider
- Waiver of premium
- Critical illness
- Accidental death rider
- Permanent & partial disability
- Income benefit rider
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Max Life Insurance Company Limited
Max Life Insurance Company is known for its wide range of insurance or investment plans. Since its establishment, the insurer aims to make insurance easy and reasonable
for everyone. It offers a wide range of life insurance policies and features such as death benefits, return on premium options, retirement solutions, flexible policy guidelines, and adjustable tenure, which helps buyers attain long-term
stability.
Policies Offered
- Term insurance plans
- Term Insurance With Returns
- Unit Linked Insurance Plans
- Child Plans
- Retirement Plans
- Savings & Income Plans
- Online Insurance Plans
- Group Insurance Plans
- Cancer Insurance Plan
- NRI Plans
Life Insurance Riders
- Accident Benefit Rider
- Waiver of Premium Plus Rider
- Partner Care Rider
- Critical Illness Benefit Rider
- Critical Illness and Disability Rider
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Bajaj Allianz Life Insurance Company Limited
Bajaj Allianz Life Insurance is a joint venture between Allianz SE, one of the world's prestigious insurance providers, and Bajaj Finserv Limited. It is
known for its tailor-made life insurance solutions and wide coverage at lower premiums. If you're looking for a wide sum assured at a low premium, then you may consider opting for Bajaj Allianz Life Insurance. It has earned the trust
of policy buyers in a very short time and offers buyers a sense of security as well.
Policies Offered
- Term Insurance
- ULIP
- Saving Plan
- Investment Plans
- Pension Plan
- Child Insurance Plans
- Group Insurance Plans
- On Sale Plans
- Withdrawn Plans
Life Insurance Riders
- Individual Riders
- Accidental Permanent Total/ Partial Disability Benefit Rider
- Waiver of Premium Benefit Rider
- Family Income Benefit Rider
- Accident Death Benefit Rider
- Critical Illness Benefit Rider
- ULIP Rider
- Life Linked Accident Protection Rider
- ULIP Waiver of Premium Benefit Rider
- ULIP Accidental Permanent Total/ Partial Disability Benefit Rider
- Group Rider
- Life Group Critical Illness Rider
- Life Group Accidental Permanent Total/ Partial Disability Benefit Rider
- Life Group Accident Death Benefit Rider
- Life Accelerated Critical Illness Rider
- Life Group New Terminal Illness Rider
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Kotak Mahindra Life Insurance Company Limited
Kotak Mahindra Life Insurance is one of the fastest-growing insurers in the Indian market. Since its establishment in 2001, Kotak Life has served 50 million
customers in 148 cities nationwide. It is a private insurance company that offers top-notch insurance products and round-the-clock customer service. However, Kotak Life offers a wide range of plans, such as protection, retirement,
savings, investment, and annuity plans.
Policies Offered
- Term Insurance Plans
- Savings Plans
- ULIP Plan
- Retirement Plans
- Child Plan
- Annuity Plans
- Investment Plans
Life Insurance Riders
- Accidental Death Benefit Rider
- Term Benefit Rider
- Permanent Disability Benefit Rider
- Life Guardian Benefit Rider
- Accidental Disability Guardian Benefit Rider
- Permanent Disability Benefit Rider
- Accidental Death Benefit Rider
- Critical Illness Plus Benefit Rider
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Aditya Birla SunLife Insurance Company Limited
Aditya Birla Sun Life Insurance (ABSLI) is one of the country's most prestigious life insurers, formerly known as Birla Sun Life Insurance Company. However,
the insurer offers a range of insurance solutions. The insurer aims to assist buyers in getting financial protection requirements for every important stage of their life. Since its establishment in 2000, ABSLI has built a strong brand
value and has more than 385 branches across India in order to meet the various needs of buyers.
Policies Offered
- Endowment Plans
- Saving Plans
- Term Insurance
- Retirement Plans
- Child Plans
- ULIP Plans
- Group Insurance
- Plans for Defence Peronnel
Life Insurance Riders
- Waiver of Premium Rider
- Accidental Death and Disability Rider
- Critical Illness Rider
- Accidental Death Benefit Rider Plus
- Waiver of Premium Rider
- Accidental Death Benefit Rider Plus
- Surgical Care Rider
- Hospital Care Rider
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TATA AIA Life Insurance Company Limited
TATA AIA Life Insurance is one of India's most trustworthy insurance providers that offers life insurance policies at reasonable premiums. It is a joint venture
Company formed by Tata Sons Pvt. Ltd. and AIA Group Ltd, making it a prominent independent pan-Asian life insurance group. The insurer offers a range of long-term savings and protection products such as life insurance, saving plans,
ULIP plans, Etc. TATA AIA Life Insurance aims to make life insurance accessible for everyone and offers high insurance coverage along with good returns.
Policies Offered
- Term Insurance
- Saving Plans
- ULIP Plans
- Term Plans with Market-linked Returns
- Retirement Plans
- Group Plans
Life Insurance Riders
- Traditional Riders
- Vitality Protect
- Non-linked comprehensive Protection rider
- Accidental Death and Dismemberment Rider
- Waiver of Premium Plus Rider
- Ulip Riders
- Vitality Protect Plus
- Waiver of Premium Plus Rider
- Waiver of Premium Rider
- Linked Comprehensive Protection Rider
- Accidental Death and Dismemberment Rider
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IndiaFirst Life Insurance Company Limited
IndiaFirst Life Insurance Company is one of the country's rapidly growing life insurers in terms of new business. The insurer offers a range of life insurance
policy products, such as whole life assurance policy, life insurance investment plans, pure protection life cover, etc, to fulfill the requirements of every buyer.
Policies Offered
- Term Plans
- Investment Plans - ULIPS
- Savings Plan
- Retirement Plans
- Micro Life Insurance Plans
- Common Service Centre Plans
- Child Plans
- Saral Plans
Life Insurance Riders
- IndiaFirst Term Rider
- Life Waiver of Premium Rider
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PNB MetLife India Insurance Company Limited
PNB MetLife India Insurance is one of the country's leading insurance providers, along with 140 branches across the country. The insurer strives to offer
a range of insurance solutions designed significantly to fulfill the buyers' personal and financial needs. If you wish to opt for a wide sum assured at a low premium, then consider opting for PNB MetLife Insurance. For instance, the
one crore term insurance plan of PNB MetLife costs a mere ₹1000 per month premium.
Policies Offered
- Term Insurance Plans
- Family Protection Plans
- Long-Term Savings Plans
- Child Plans
- Retirement Plans
- Group Plans
Life Insurance Riders
- Individual Riders
- Accidental Death Benefit Rider Plus
- Serious Illness Rider
- Accidental Disability Benefit Rider
- Critical Illness Rider
- Group Riders
- Accidental Permanent and Total Disability Plus
- Accidental Permanent and Partial Disability Plus
- Serious Illness Rider
- Accidental Death Benefit Plus
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Canara HSBC Life Insurance Company Limited
Canara HSBC Life Insurance Company Limited is a joint venture between Canara Bank and HSBC Insurance Company. The insurer offers a huge range of insurance
products, wide sum assured, and add-on riders. The company's main headquarters is in Gurugram, and it has 10,000 branches across India and annually serves 115 million consumers. It is known for its excellent customer care service and
a wide range of insurance products.
Policies Offered
- Online Life Insurance Plans
- Term Insurance Plans
- Tax Saving Plans
- Saving Plans
- Unit Linked Insurance Plans
- Child Insurance Plans
- Retirement Plans
- Group Insurance Plans
Life Insurance Riders
- Income benefit rider
- Waiver of premium
- Critical illness
- Accidental death rider
- Permanent & partial disability
- Income benefit rider
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Reliance Nippon Life Insurance Company Limited
Reliance Nippon Life Insurance is a leading non-banks-supported private life insurance provider serving more than ten million policyholders. The company's main
headquarters is in Mumbai, and it has 713 branches across India. The insurer offers a wide range of insurance products to fulfill both individual and group customers, catering to four distinct segments: ULIP, protections, child, and
retirement plans.
Policies Offered
- Term Insurance Plans
- Investment Plans
- Pension Plans
- ULIP
- Child Plans
- NRI Plans
Life Insurance Riders
- Accident Benefit Rider
- Waiver of Premium Plus Rider
- Partner Care Rider
- Critical Illness Benefit Rider
- Critical Illness and Disability Rider
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Bharti AXA Life Insurance Company Limited
As the name suggests, Bharti AXA Life Insurance is a joint venture between Bharti Enterprises and the AXA Group, making it a prominent insurer in the Indian
insurance market. With a network of 236 branches all over India, the insurer serves over 70 million buyers annually. The insurer also boasts an excellent impressive claim settlement ratio of 99.10%.
Policies Offered
- Term Insurance
- Savings Plans
- Investment Plans
- Group Plans
- Yoddha Plans
- Endowment Plans
Life Insurance Riders
- Group Accidental Death Benefit Rider
- Accidental Death Benefit Rider
- Hospi Cash Benefit Rider
- Premium Waiver Rider
- Life Term Rider
- Non-Linked Complete Shield Rider
- Life Linked Complete Shield Rider
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Star Union Dai-Ichi Life Insurance Company Limited
Star Union Dai-ichi Life Insurance is one of the leading private insurers in India. The company is a joint venture between India's two prominent banks- Bank of India and Union Bank of India, and Japan's second-largest life insurance company,
Dai-ichi. The company is based out of Mumbai and has a solid network of over 15,000 bank branches serving more than 9.2 million customers.
Policies Offered
- Protection Plans
- Retirement Plans
- Saving Plans
- Wealth Plans
- Child Plans
- Group Plans
Life Insurance Riders
- Accidental Death & Total & Permanent Disability Benefit Rider
- Family Income Benefit Rider
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Future Generali India Life Insurance Company Limited
Future Generali India Life Insurance offers a wide range of life insurance products that cater to the buyers' short-term, mid-term, and long-term financial
goals. The insurer holds an impressive claim settlement ratio of 96.15% for the financial year 2021-2022, which allows buyers to easily opt for a claim and settle it as soon as possible. However, the company was established in 2007
with an aim to offer retail, commercial, and rural insurance products in India.
Policies Offered
- Term Insurance Plans
- Unit Linked Insurance Plans
- Child Plans
- Retirement Plans
- Savings Plan
- Rural Plans
- Group Plans
Life Insurance Riders
- Accident Benefit Rider
- Waiver of Premium Plus Rider
- Partner Care Rider
- Critical Illness Benefit Rider
- Critical Illness and Disability Rider
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Shriram Life Insurance Company Limited
Shriram Life Insurance is one of the country's most trustworthy insurance providers and is a fully-owned subsidiary of the well-known Shriram Group. However,
the company's main headquarter is in Chennai, and it has a solid network of over 4,050 branches across India. The insurer offers a wide range of both individual and group insurance products.
Policies Offered
- Term Insurance Plans
- Savings Plans
- ULIP Plan
- Retirement Plans
- Child Plan
- Annuity Plans
- Investment Plans
Life Insurance Riders
- Accident Benefit Rider
- Waiver of Premium Plus Rider
- Partner Care Rider
- Critical Illness Benefit Rider
- Critical Illness and Disability Rider
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Ageas Federal Life Insurance
Ageas Federal Life Insurance, Formerly known as IDBI Federal Life Insurance. It is a joint venture between Federal Bank and Ageas Insurance International.
Since its establishment in 2008, the IDBI Federal has been rewarded with several awards and accolades. However, the insurer offers a wide range of insurance products, including term plans, child insurance plans, ULIPs, savings, and
retirement plans.
Policies Offered
- Online Plans
- Term Plans
- Child Plans
- ULIP Plans
- Retirement Plans
- Savings Plans
- Group Plans
Life Insurance Riders
- Accident Benefit Rider
- Waiver of Premium Plus Rider
- Partner Care Rider
- Critical Illness Benefit Rider
- Critical Illness and Disability Rider
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Pramerica Life Insurance Company Limited
Pramerica Life Insurance is a leading multinational insurance company headquartered in Gurugram, Haryana. It offers a wide and simple range of life insurance
policies for both individual and group customers. Whether you're looking for protection to secure your child's future, retirement planning, savings, or wealth creation, these insurance plans are designed to cater to the needs of every
customer from different walks of life.
Policies Offered
- Protection Plans
- ULIP Plans
- Savings Plans
- Child Progress Plans
- Retirement Plans
Life Insurance Riders
- Accident Benefit Rider
- Waiver of Premium Plus Rider
- Partner Care Rider
- Critical Illness Benefit Rider
- Critical Illness and Disability Rider
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Aviva Life Insurance Company India Limited
Aviva Life Insurance India is an Indian life assurance company. The company's main headquarter is in Gurugram, and it has a wide network of 93 branches spread across
the country. The insurer strives to make life insurance easy for every buyer by offering wide coverage at very reasonable premium rates.
Policies Offered
- ULIP Plans
- Online Insurance
- Child Insurance
- Retirement Plans
- Group Insurance Plans
- Rural/Credit Protection
Life Insurance Riders
- Accident Benefit Rider
- Waiver of Premium Plus Rider
- Partner Care Rider
- Critical Illness Benefit Rider
- Critical Illness and Disability Rider
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Bandhan Life Insurance Limited
Bandhan Life Insurance is a leading digital life insurance company. The insurer provides a mix of life insurance policy products such as term plans, savings plans,
retirement policies, and group life insurance policies. With a CSR (Claim Settlement Ratio) of 99.37%, it offers long-term investment plans and life insurance products.
Policies Offered
- Term Insurance Plans
- Savings Plans
- ULIP Plans
- Retirement - Annuity Plans
- Retirement - Pension Plans
- Child Plans
- Group Insurance Plans
Life Insurance Riders
- Accident Benefit Rider
- Waiver of Premium Plus Rider
- Partner Care Rider
- Critical Illness Benefit Rider
- Critical Illness and Disability Rider
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Edelweiss Tokio Life Insurance Company Limited
Edelweiss Tokio Life Insurance is a well-known Indian life insurance company. Based on the CSR (claim settlement ratio), Edelweiss Tokio's life insurance
ranking in India is 24th. Since its establishment in 2011, the company has been known for various types of terms, savings, wealth enhancement, and accumulation plans. However, it has more than 120 spread across the country in order
to meet the various needs of the buyers.
Policies Offered
- ULIP Plans
- Child Plans
- Savings Plans
- Term Insurance Plans
- Group Insurance Plans
- Retirement - Annuity Plans
- Retirement - Pension Plans
Life Insurance Riders
- Partner Care Rider
- Accident Benefit Rider
- Waiver of Premium Plus Rider
- Critical Illness Benefit Rider
- Critical Illness and Disability Rider
