Life insurance is provided the financial coverage by the insurer in exchange for a sum of money over a period. During the tenure of the insurance policy, the insurance policyholder passes away. The insurer will provide money to the nominee of the policyholder. This sum amount is named the sum guaranteed on maturity. The insurance person receives a sum amount assured on the death benefit when the policy term completion from the insurance company with bonuses. If you need to apply for life insurance then you can choose the Best Life Insurance Company. Most of the life insurance companies offer the most excellent term insurance plans at a low premium. You can choose the best company and gain huge benefits from life insurance. Here is a list of top life insurance companies in India.
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Top 7 Life Insurance Companies In India:
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SBI Life Insurance
SBI Life Insurance is the top life insurance company in India that is the joint venture between BNP Paribas Cardiff and State Bank of India. This life insurance company provides various products such as investment, money back, group insurance plan, a multitude of insurance, child, saving plan and others. It has a claim settlement ratio of over ninety percent. This life insurance company offers a beneficial insurance plan to the customers.
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LIC Insurance Corporation of India
LIC stands for Life Insurance Corporation that is the oldest insurance company in India. LIC is the public sector life insurance company with huge benefits to the policyholder. The company offers different kinds of insurance plans such as special plans, group schemes, insurance plans, unit-linked plans, and others. LIC Insurance Corporation has a good reputation among the people for its quality service. The claim settlement ratio of this company life insurance policy is more than ninety-five percentage.
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HDFC Standard Life Insurance
The third famous life insurance company in India is the HDFC Standard Life Insurance company.HDFC Life is the long-term life insurance company providing a scope of group insurance and individual insurance solutions to the customers. This insurance policy meets various customer needs such as a pension, savings, health, child plans, investment plan, and more. It is a renowned joint venture between Standard Life Aberdeen and HDFC Ltd.
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Max Life Insurance
Max Life Insurance Company ranks at the fourth-best life insurance company. This company provides the most excellent life insurance plans to the customers. It is a joint venture of the Mitsui Sumitomo Insurance Co. Limited and Max financial service limited. The insurance company provides a great insurance solution to more than twenty lakh customers in India. This life insurance meets the long-term saving of the policyholder.
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TATA AIA Life Insurance
TATA AIA Life Insurance Company is the top life insurance company in India. It is formed by AIA Group Ltd and Tata Sons Ltd. In 2201, the insurance company started its insurance business and providing life insurance products like wealth solutions, protection and saving to the company and individual customers. It has large distribution channels such as brokers, direct channels, agents, and much more.
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Aditya Birla Sun Life Insurance
Aditya Birla Sun Life Insurance Company is the sixth top life insurance company. It is a renowned life insurance company in India. It is a joint venture company between Sun Life Financial Inc and Aditya Birla Group. The company offers a vast range of products like health, retirement, saving plan, protection, child plan, and others.
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ICICI Prudential Life Insurance
ICICI Prudential Life Insurance Company is the topmost life insurance company in India. This company is promoted by Prudential Corporation Holdings Limited and ICICI bank. It has more than seventy percent of stakeholding. It offers plenty of products like ULIP, retirement plans, health plan, term insurance, saving and others to cater to the customer insurance requirements. The company has been serving life insurance services from the year 2001.
These are the top 7 life insurance companies in India. The life insurance policy is a vital thing in a person’s life. The insurance companies are offering an awesome life insurance policy to the customers.
Perks of life insurance policy
The life insurance policies provide huge benefits to the customers. One of the main benefits of the life insurance policy is risk cover. It may cause issues to the person and her or his family members at any time. Getting the life insurance policy assures that the family continues to enjoy the lifestyle in case of the policyholder accidental death. The insurance policy is a long-term agreement that the person is needed to make a fixed period of payment.
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