Life Insurance Companies
  • Scout the best life insurers
  • Achieve your financial goals
  • Rich mix of products
Life insurance companies
Buy Policy in just 2 mins

Buy Policy in just 2 mins

Happy Customers

2 lakh + Happy Customers

Free Comparison

Free Comparison

Customized Term Insurance Plan for you.

Get upto 10% Online Discount*



Life Insurance Companies in India

Life insurance companies in India provide a wide range of life insurance products, including ULIPS, endowment plans, retirement plans, income plans, and others. The top insurance companies in India have seen an increase in the Indian population's investment in life insurance products and the life insurance sector in India witnessed a growth rate of 12.5% in 2022. IRDAI has registered 24 life insurance companies in India that provide the best life insurance solutions.

Policyholders must always invest in the best insurance company in India as they are credible and reliable. Top life insurance companies in India can provide efficient customer service, claim settlement services, and guide you toward the right investment options. The standard eligibility criteria for Life Insurance Policy are 18 years to 65 years and 3 months to 25 years for dependent children.

Top 24 life insurance companies in India

When investing in a life insurance plan one must take a look at the top insurance companies in India. PolicyX has compiled a list of life insurance companies for you to gain a better perspective in your purchase decision.

S.No Company Annual Premium for 2021-2022 (Rs. in crores) Claim Settlement Ratio 2021-2022 Solvency Ratio
1 Life Insurance Corporation of India 428,024.97 98.74% 1.79
2 HDFC Life Insurance 45,962.83 99.30% 1.89
3 SBI Life Insurance 58,759.64 97.05% 2.1
4 ICICI Prudential 37,457.99 97.90% 2
5 Max life 22,414.17 99.51% 2.04
6 Bajaj Allianz 16,127.05 99.04% 6.14
7 Kotak Mahindra 13,015.11 98.82% 2.64
8 Aditya Birla Sunlife 12,140.23 98.07% 1.88
9 Tata AIA 14,445.03 99.01% 1.89
10 India First 5,186.56 96.92% 1.65
11 PNB Met life 7,348.26 97.33% 1.87
12 Canara HSBC OBC 5,889.92 98.44% 2.79
13 Reliance Nippon 5,036.57 98.67% 2.33
14 Exide life 3,767.96 99.09% 2.11
15 Bharti AXA 2,601.56 99.09% 1.72
16 Star Union 1926.00 95.96% 2.0
17 Future Generali 1,433.54 96.15% 1.67
18 Shriram 2,349.60 82.39% 2.15
19 IDBI Federal
Ageas Federal Life
2,207.30 97.03% 3.09
20 Pramerica life 1,098.78 98.3% 3.99
21 Aviva 1,268.15 98.39% 2.14
22 Aegon 416.46 99.03% 2.97
23 Sahara 61.44 97.08% 8.77
24 Edelweiss Tokio 1,464.20 98.09% 1.97

Best life insurance company in India

Below mentioned are the top life insurance companies in India with respect to their claim settlement ratio for FY 2021-22.

  1. Max Life Insurance - 99.51% CSR

    Max Life Insurance is one of the top insurance companies in India and offers a plethora of insurance products that offer up to 2Cr life cover and various investment options. The company has 24/7 customer service and served more than 20 lakh customers in 2022.

  2. Bharti AXA LifeInsurance - 99.09% CSR

    Bharti AXA is amongst the leading life insurance companies providing 24/7 customer service and served more than 20 lakh customers in 2022.

  3. Kotak Mahindra Life Insurance - 98.82% CSR

    Kotak Mahindra Life Insurance is amongst the fastest-growing insurance providers in the country and caters to over 45 million customers as of 2023.

  4. Life Insurance Corporation - 98.74% CSR

    LIC is the oldest insurance provider in India. The company commenced its operations in the year 1956 and serves more than 250 million customers across the country. The company has an impressive CSR and offers various insurance solutions.

  5. Reliance Life Insurance - 98.67% CSR

    Reliance Life Insurance serves 10 million customers across the nation and provides them with the best insurance solutions. The company was awarded the "Top 3 Most Trusted Life Insurance Service Brands".

List Of All 24 Life Insurance Companies in India

In the following sections, we will briefly discuss the list of all 24 life insurance companies operating in India.

  1. Life Insurance Corporation of India

    Life Insurance Corporation of India (LIC) is the largest and oldest insurance company in India. It offers a wide range of insurance products to its customers including life insurance plans, pension plans, child insurance plans, unit-linked plans, special plans, and group schemes.

    This government-owned entity continues to remain relevant in present times owing to its constantly updated suite of insurance solutions. LIC has also been recognised for consistently managing customer expectations, having established itself as one of the most trusted insurance companies in India.

    Know More - Lic of India

  2. HDFC Life Insurance Company

    Headquartered in Mumbai, the company operates through over 372 branches and additional distribution touch-points through several new tie-ups and partnerships. The count of our partnerships is over 300, comprising traditional partners such as NBFCs, MFIs and SFBs, and including new-ecosystem partners.

    Know More - HDFC Life Insurance

  3. SBI Life Insurance Company

    SBI Life Insurance Company Limited is one of the most renowned life insurance companies in India. It currently deals in an inclusive range of life insurance solutions to cater to the multiple needs of its customers (at a very economical rate). Some of the popular life insurance plans offered by SBI Life Insurance Company are traditional life insurance plans, child plans, pension plans, and savings plans.

    SBI Life continuously strives to improve its operating efficiency and easing its claim settlement process. Over the years, it has established an extensive network of distribution comprising 947 offices pan India, in addition to 28,000 partner branches and a bancassurance network of 14 partners.

    Know More - SBI Life Insurance

  4. ICICI Prudential Life Insurance Company

    ICICI Prudential began its operations in 2001 and since then, it has maintained the position of being a top player in the insurance market. The company operates on the core philosophy of customer-centricity and has developed and implemented several initiatives to provide affordable insurance solutions, quality services, better fund performance, and a hassle-free claim settlement experience to its customers. The insurance products offered by ICICI Prudential include term plans, ULIP plans, retirement plans, etc.

    Know More - ICICI Prudential

  5. Max Life Insurance Company

    Founded in 2000, Max Life Insurance is among the top insurers in India. It works to secure the financial strength of its customers and for this reason, the company offers a wide variety of life insurance plans including long-term savings, protection, child insurance, retirement, investment, and group solutions, etc. All such policies launched by Max Life are loaded with benefits and features as per the requirements of the people.

    Know More - Max Life Insurance Company

  6. Bajaj Allianz Life Insurance Company

    Bajaj Allianz Life Insurance Company Limited strives to launch innovative solutions to cater to the needs of its vast customer base. It offers a range of effective life insurance products such as term plans, ULIP plans, retirement, child insurance plans, etc. Notably, Bajaj Allianz Life Insurance Company became the first company to offer Return on Mortality Charges as a key feature of their ULIPs.

    Know More - Bajaj Allianz Life Insurance

  7. Kotak Mahindra Life Insurance Company

    Kotak Mahindra Life Insurance Company Ltd. is one of the fastest-growing insurance companies in India, covering over 34.8 million lives nationwide (as of 31st December 2021). Kotak Life Insurance Company was founded in 2001 and has 232 branches in around 167 cities and towns in India

    The company is a collaboration between Kotak Mahindra Bank Ltd, a leading bank in India, and Old Mutual, which is an international long-term saving, investment, and protection group. The company has its headquarters in Mumbai and is well known for delivering outstanding value to its customers through various customized products and excellent service. The life insurance plans offered by this company include the term, ULIP, child, savings, investment, protection, retirement plans, among others.

    Know More - Kotak Life Insurance

  8. Aditya Birla Sun Life Insurance Company

    Formerly known as Birla Sun Life Insurance Company, Aditya Birla Sun Life Insurance Company Limited (ABSLI) is currently ranked 7th in the Individual Business domain, in addition to being recognized as one of India's leading life insurance companies. It has been successful in establishing a huge customer base of 17 Lakh policyholders. The company offers a range of insurance products to the customers including child plans, wealth protection plans, retirement and pension solutions, health plans, traditional term plans, and unit-linked insurance plans.

    Know More - Birla Sun Life Insurance

  9. Tata AIA Life Insurance Company

    Tata AIA Life Insurance is another renowned life insurance company in India. It has adopted a customer-centric approach, offering multiple life insurance policies to its customers to meet their future requirements. Some of the major insurance products include protection plans, wealth plans, savings plans, among others.

    Know More - Tata AIA Life Insurance

  10. IndiaFirst Life Insurance Company

    IndiaFirst Life Insurance Company Limited offers a wide range of plans like saving plans, protection plans, pension plans, term plans, child plans, etc. to cater to the needs of every individual. Customers can leverage the diverse suite of policies comprising 31 need-based products as of March 2020.

    Know More - IndiaFirst Life Insurance Company

  11. PNB MetLife India Insurance Company

    PNB MetLife India Insurance Company Limited is one of the leading life insurance providers in India. PNB MetLife operates a large network of offices in 107 locations across India. The company offers a variety of insurance policies to its customers for their protection and future needs. Some of these products include protection plans, pension plans, ULIP plans, and monthly income plans.

    Know More - PNB Metlife Insurance

  12. Canara HSBC Oriental Bank of Commerce Life Insurance Company

    Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited was awarded Life Insurance Company of the Year 2020 (Large) by CMO Asia.

    The company has a pan India network and offers a range of life insurance products that are customized according to the requirements of its customers. These products include term insurance plans, child insurance plans, health insurance plans, savings plans, retirement plans, group insurance plans, among others.

    Know More - Canara HSBC Life Insurance

  13. Reliance Nippon Life Insurance Company

    Reliance Nippon Life Insurance Company Limited is an integrated part of Reliance Capital, one of the top-ranking private economic service companies in India. The company started its operations in 2001 and has gained a reputation for offering highly trusted service to its customer base of 10 million policyholders. In fact, it is currently one of the largest non-bank-supported life insurers among private players.

    It is worth noting that the company was presented with the Best Digital Customer Experience Award of the Year in 2021 in the insurance domain. The company has its headquarters in Mumbai and manages a strong distribution network of 713 branches and 42,604 advisors. There are five different segments of life insurance plans offered by Reliance Nippon, namely Protection, Retirement, Child, Saving & Investment, and Health (for individuals and groups/corporate entities).

    Know More - Reliance Life Insurance Company

  14. Exide Life Insurance Company

    Exide Life Insurance Company Limited adopts a customer-centric approach and at present serves over 15 lakh customers across India. Headquartered in Bengaluru, the company has a network of 200 offices across the country and is supported by over 45,000 advisors. It utilizes a variety of network channels to distribute its products such as bancassurance, agency, corporate agency, direct channels & broking. The insurance plans offered by this company are categorized into protection, saving, investment, retirement plans, among others.

    Know More - Exide Life Insurance Company

  15. Bharti AXA Life Insurance Company

    Bharti AXA is one of the leading insurance companies in India, offering a wide range of policies to its customers including protection plans, savings plans, investment plans, child plans, health plans, and group plans. The primary objective of all these policies is to ensure that all the needs of an individual are taken care of with the utmost focus on customer trust and innovation in its offerings.

    Know More - Bharti Axa Life Insurance

  16. Star Union Dai-Ichi Life Insurance Company

    Star Union Dai-Ichi Life Insurance Company Limited works to provide insurance products to every stratum of society. The company has 11000+ branches in India and serves over 64 million customers. As a customer-centric company, Star Union provides a variety of insurance products such as saving plans, wealth plans, protection plans, child plans, among others.

  17. Future Generali Life Insurance Company

    Future Generali Life Insurance Company offers specialised rural insurance plans designed to feature lower premiums for increased access to people from any part of India. It provides a wide range of effective life insurance products including ULIPs, child insurance, health, savings, retirement, and group insurance plans. All these plans are designed to deal with the different financial needs of consumers. Since its inception, the company claims to have covered over 1.2 Crore lives.

    Know More - Future Generali Life Insurance

  18. Shriram Life Insurance Company

    Shriram Life Insurance Company Limited is a joint venture between Shriram Group and Sanlam Group. It was formed in the year of 2005 and is recognized as one of the largest Indian life insurance companies, especially in rural areas. The company intends to reach out to the common man while providing quality and affordable products to the average public to grow financially and secure their future.

    Know More - Shriram Life Insurance

  19. IDBI Federal Life Insurance Company

    As per a survey conducted by the Economic Times Brand Equity, IDBI Federal Life Insurance Company falls into the list of top 10 trusted life insurance brands in India. Being one of the fastest-growing life insurance companies in India, it offers a wide variety of life insurance products such as wealth management plans, child plans, protection plans, retirement plans, and group solutions for individuals as well as corporate customers.

    Know More - IDBI Federal Life Insurance

  20. Pramerica Life Insurance Company

    Pramerica Life Insurance Company is among the top life insurance companies in India. It offers a wide range of life insurance products for individuals as well as groups. All these products are focused on catering to the customers' various financial needs such as securing their child's future, retirement planning, savings, and wealth creation.

    Know More - Pramerica Life Insurance

  21. Aviva Life Insurance Company

    Aviva Life Insurance Company India Limited was recognised as the Most Trusted Brand by TRA Brand Trust Report for 3 consecutive years from 2019-2020!

    Among all other insurance providers, Aviva Life Insurance was the foremost company in India to initiate unit-linked and uniform participating plans. Being one of the biggest insurance providers in India, it offers a variety of insurance products to its customers such as term plans, savings plans, child plans, retirement plans, together with group solutions.

    Know More - Aviva Life Insurance

  22. Aegon Life Insurance Company

    Aegon Life Insurance Company was the first insurance provider in India to offer online term insurance plans. Currently, it operates through several branches across various cities in India and has successfully created a broad customer base with over 3 Lakh policyholders. The company offers a wide array of products to help the customers in meeting their long-term financial goals.

    These products include term insurance plans, child plans, savings, and investment plans, endowment plans, pension plans, unit-linked insurance plans (ULIPs) as well as group solutions. Further, the company follows a Direct to Customer approach that focuses on creating a direct channel for dialogue between customers and their service team specialists.

    Know More - Aegon Life Insurance

  23. Sahara India Life Insurance Company

    Sahara India Pariwar is a privately-owned company, also known as Pariwar's Life Insurance Company. It was certified by IRDAI in 2004, following which it became the first Indian company to operate without any foreign collaborators to enter the Indian life insurance market. It adopts a customer-centric approach and provides a variety of efficient plans to fulfill the needs of individuals belonging to any age group. Some of the common insurance products offered by the company include money-back plans, unit-link plans, endowment plans, and group assurance plans.

    Know More - Sahara India Life Insurance

  24. Edelweiss Tokio Life Insurance Company

    Edelweiss Tokio Life Insurance Company Limited was established with a vision to promote quality, customer-centricity, and cost-consciousness. At present, it has 55,749 agents operating across 116 branches in India. The plans offered by the company feature significant flexibility for buyers to personalize per their convenience. Since its inception, it has received several awards in recognition for its insurance policies. Most of these come with high returns and guaranteed interest payments.

    Know More - Edelweiss Tokio Life Insurance Company

Life Insurance Companies

Steps to Select the Best Life Insurance companies for Wealth Management

Before selecting an insurance provider from the list of life insurance companies in India, several elements must be considered, such as claim settlement ratio, customer service, plan types, features and perks, and more. The characteristics that make a life insurance company the top insurance company in India are listed below.

  • CSR is an indicator of trust and credibility

    A life insurance company's claim settlement ratio is an indicator of its success and consumer trust. It is a measure that indicates how many claims were settled against claims received by insurance companies within a fiscal year. It is a direct reflection of the insurance provider's dependability and effective claim settlement. This feature represents the loyalty of an insurance company toward the customer and all insurance holders must consider the CSR of their insurance providers.
  • 24x7 Customer Service

    The best life insurance companies in India offer their customers a 360-degree support system. Insurance holders should look for insurance companies that offer 24-hour customer support for claim settlement, policy questions, and more.
  • Rider Options

    Riders, which give increased protection to your life insurance plan, are available at an additional premium cost from the best life insurance companies. Critical illness riders, accidental death benefit riders, accidental complete disability riders, permanent disability riders, waiver of premium riders, and other riders are provided through life insurance companies in India and customers must look for companies that provide flexible insurance plans allowing them to avail suitable riders.
  • Reviews and customer feedback

    Customers should carefully study the reviews and feedback made by fellow customers before investing in any insurance plan offered by top insurance companies in India. This provides them with information about the organization.
  • Affordable Premiums

    The best life insurance companies aim at making insurance plans affordable by providing insurance plans at nominal premiums. Customers like to invest in life insurance plans that are easy on the pocket and also provide protection.

Benefits of Best Life Insurance Company

A wealth of benefits are available when acquiring a life insurance plan from one of the best life insurance companies, which are listed below to assist you in making an informed selection.

  1. Financial Stability

    People purchase life insurance for various reasons apart from getting a life cover. Life insurance can prove to be a great way to leave a legacy for your forthcoming generations. So, choosing one of the best life insurers can ensure that your family is in a good financial shape. A good insurance company's performance speaks volumes for it. It settles the claims on time and comes with a certain transparency baring you from the end time hassles.

  2. Plethora of Products

    A good life insurance company offers a big buffett of life insurance products. You can choose from various options, apply riders to your base plans and have the sum assured of your choice. It gives you a sense of security and prevents the chaos of buying multiple plans from multiple insurers.

  3. Customer Satisfaction

    A competent life insurance company gives productive and satisfactory solutions rather than making the customer all the way more confused. A reputed life insurance company which has been in the market for a significant time treats its customers with utmost priority and is readily available with useful solutions. This in turn, leads to customer satisfaction.

  4. Adequate coverage

    Since there are a lot of life insurance providers in the Indian insurance market, companies keep the premiums affordable to maintain a healthy amount of competition. Some companies, due to this, compromise the services they offer. There are a lot of hidden conditions and sub-limits to make up for the competitive price they are offering. Whereas, the best life insurance companies in India, offer fair rates without sacrificing service.

  5. Financial Security

    Life insurance companies in India offer multiple life insurance plans that act as tools to create wealth and provide you and your family with the required financial safety.

  6. Investment and Maturity Benefits

    Life insurance companies offer unit-linked investment plans that offer not only protection but investment options that will help you in creating a corpus required to fulfill your goals such as building your dream home, providing fine education for your children or building a post-retirement fund.

  7. Tax Benefits

    Life Insurance plans in India are eligible for tax benefits under Income Tax Act which can be availed by customers.

Our Methodology to Recommend Top Life Insurance Companies

Choosing a top life insurance company holds as much importance as choosing a good life insurance policy. Doing so ensures that you have a life insurance policy at hand that suits your needs and serves its purpose well. Let us have a look at a few points that we recommend to consider while buying from a life insurance company.

  1. Claim Settlement Ratio

    Claim settlement ratio also known as the CSR of the company is the most important factor that you should consider while selecting a company. CSR is the percentage of claims that a company settles in response to the claims it received from its customers in a certain time period. Higher the claim settlement ratio, more the reliability of the company.

  2. Solvency Ratio

    Solvency ratio denotes the financial solidity of a company. It denotes the number of assets of the company in comparison to its liabilities. More the assets of a company against its liabilities, higher will be its solvency ratio. The insurance regulator of India, IRDAI, has mandated every insurance company to maintain a solvency ratio of 1.5.

  3. Incurred Claims Ratio

    Incurred claims ratio, the ICR, speaks about the insurer's ability to pay claims. It is the percentage of the value of claims paid against the total amount of premiums collected in a year.

  4. Customer Reviews

    Customer reviews also play an important role in determining the performance of a life insurance company. Ask around the people who already have life insurance or have tried buying policies from different insurers. Talk to insurance experts like that on PolicyX. Read the reviews of the company online and then choose the best suitable one for yourself.

  5. Premiums

    Higher premiums do not necessarily mean the best insurance policy or the company. Different life insurance companies provide different life insurance products. Similarly, cheaper premium policies can compromise on necessary services. Therefore, compare the policies and premiums of different companies before you find the best life insurance company for yourself.

Buy top life insurance plans in India from

PolicyX offers life insurance plans from the top 24 life insurance companies in India. Customers can purchase the best life insurance policy through our portal in easy steps.

  • Visit our official website of
  • Compare Insurance Plans on the basis of the Sum Insured, Features, and Coverage Provided
  • Look for additional rider benefits and opt for the same if required
  • Compare Premium Quotes
  • Fill in your essential details and purchase the best life insurance plan suitable for you and your family

Buy from

The advent of the digital medium has facilitated an easier buying process for consumers today. PolicyX.Com is a reliable certified insurance regulator that offers a convenient platform for users to compare and buy the most suitable plans per needs. In order to buy life insurance from, please follow the steps below - 

  • Go to the top-right corner of this page to find 'Get Life Insurance Quotes Online'.
  • Provide the required details and tap on 'Continue'.
  • Fill out your number and city to proceed ahead.
  • Select the plan from the list of available options.
  • Make the payment. You will get the details of your policy on your registered email ID.

Life Insurance Companies: FAQs

1. Which are the best life insurance companies that provide the most affordable life insurance policy?

The cost of a life insurance policy depends on the type of insurance plan you have opted for. Also, the premium of policy effects due to several factors such as the sum insured, age, policy coverage, and so on. Hence, you should get in touch with the life insurance company to get the cost of life insurance or connect with leading insurance aggregators like PolicyX.

2. Do best life insurance companies sell insurance online?

Yes, the best life insurance companies in India provide life insurance plans online as well as offline. Moreover, most life insurance companies have special plans and customization options for their online customers.

3. How can I select the best Life Insurance company to purchase a policy?

PolicyX has curated all the important information required to understand which are the best Life insurance companies in India and to make an informed decision.

4. Should I check the brand of the company before taking life insurance from it?

Life insurance is a long-term contract. You need to ensure that the life insurance company you select is capable of managing your funds prudently and able to honor its commitment. That is why it becomes essential to trust life insurance companies that have a good reputation and financial strength in the market.

5. Which is the best life insurance company in India?

All the above-listed insurance companies are IRDAI specified and most trusted insurance companies in India. However, determining the best company among these 24 is completely based upon the personal preferences and needs of the policyholders.

6. Why is the claim settlement ratio is an important factor while choosing a life insurance company?

Claim settlement ratio can be an important factor to determine a life insurance company is right for you or not. It shows us the percentage of claims settled in a year by the insurance company. So, buying a policy from a company that has a high claim settlement ratio would be beneficial because you can file a claim without risk of rejection.

7. What are the various types of life insurance policies offered by the life insurance companies in India?

Life insurance companies offer 7 types of policies which include Term insurance plans, ULIP Plans, Retirement plans, Child plans, Money-Back plans, Endowment plans, Whole life insurance.

Life Insurance Articles

What Our Customers Have to Say

Customer Review Image

Thakur rudra Pratap Singh


August 25, 2023

a good experience in this company very fast and helpfull customer service and support one of Advisor Mr. Gulshan very talented advisor and resolved my all questions and doubts thank you policyx...

Customer Review Image

Golu thakur


August 11, 2023

Very good experience in this company and one of advisor mr.gulshan sendhav very talented person and good knowledge

Customer Review Image



August 9, 2023

i have calim register in 20.7.23 for some of query by resolve it. but last one letter rejection for missprtaiton for agr rejected calim - but can not be any advise what to do - in the star hea...

Customer Review Image



June 13, 2023

"I got accident and I m upload my medical bills and reports and on time i got call from the acko and I m explained... The team of acko mam "ANUSHA " Taken my accident claim and d...

Customer Review Image

Mayank Bhardwaj


June 13, 2023

Fast and helpful customer support. Had issues with claim filing and the query was resolved in just some time. Very happy with the forever available assistance.

Customer Review Image



June 8, 2023

A thoughtful health insurance provider, they helped with the claim settlement without any hassle in a medical emergency when my father was hospitalized

Customer Review Image

Gurappa pathuru


June 3, 2023

The company has some of the best health plans from low budget to high. The company provides support 24/7 and does not bother with spam calls.

Customer Review Image

Richa Agrrawal


May 1, 2023

my experience with PolicyX has been overwhelmingly positive. Their excellent service, a wide range of insurance options, user-friendly website, competitive pricing, and trustworthiness make the...

Naval Goel

Reviewed By : Naval Goel

Naval Goel is the CEO & founder of Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of Insurance Web Aggregator.