Following is the list of insurance companies in India which have been approved by the Insurance Regulatory and Development Authority of India (IRDAI), which is a statutory body regulating and promoting the insurance and re-insurance industries in India.
1)Bajaj Allianz Life Insurance Company insurance companies
Bajaj Allianz Life Insurance is a joint venture between the European financial services company Allianz SE and Bajaj Finserv Limited. The company has gained name as one of the top most life insurance brand in India. Among the other life insurance companies in India Bajaj Allianz Life Insurance Company meet its customers need by providing them a huge range of products right from ULIP and Child Plan to Group and Health Insurance.
Also read : Cheapest car insurance Provide Companies
The company provide a huge array of customized products that cater the every single demand of the customer and provide them a transparent benefit. Launched in year 2001 this life insurance company provides a one stop solution to the customers and help them in achieving their financial goals.
2) HDFC Standard Life Insurance Company insurance companies
HDFC Standard Life Insurance Corporation India is a joint venture between Housing Development Financial Corporation Ltd. and Standard Life Plus. Founded in year 2000 HDFC Standard Life insurance is one of the leading insurance firm in India. The company has currently 27 retail and 8 group products in portfolio.
In order to meet the various needs of the customer the company provides an array of individual and group insurance solutions like pension plan, saving and health plan, protection plan, child plan and women plan. With over 414 branches spread in 900 cities and towns in India the company has a claim settlement ratio of 95.02%. HDFC Life Insurance Company offers plans in a much customized way to fulfill the requirements of the customer.
3) ICICI Prudential Life Insurance Company insurance companies
ICICI Prudential Life Insurance Corporation of India is a joint venture between ICICI Bank Ltd.; one of the India’s leading private sector bank and Prudential Plus; one of the largest international financial service group. The company began its operation in December 2000 as the first private sector Life insurance in India.
Also read : Why is it necessary to get home insurance
For over a decade the company has maintained its top most position amongst the private life insurer in country. To fulfill the different life stage requirements of the customer, ICICI Prudential Life Insurance provides an array of products that enables the buyers to achieve the long term goal. ICICI Prudential life insurance offers products like term plan, ULIP plan, Pension Plan, Child Plan and Investment Plan.
4) IDBI Federal Life Insurance Company insurance companies
Formed in 2008 IDBI Federal Life Insurance is a joint venture between IDBI Bank, Federal Bank and Ageas a European Insurance Company. With a partnered network of 2137 branches over the country the company offers a wide range of capital management solution,protection and retirement to the corporate customers as well as individual.
The bank also offers ingenious technological solution to its customers. To be eligible for IDBI Federal Life Insurance one should have a minimum age limit of 18 years to maximum age limit of 55 years. The company has a record of maximum grievances over a short period of time and provide a claim settlement ratio of 84.79% for a year.
5) Life Insurance Corporation (LIC) India Company
Life Insurance Corporation of India is the oldest insurance sector of our country. Established in 1956, one of the largest insurance company of India is a state owned insurance group and investment firm that offers a range of insurance products to its customers. Some of the common products that is offered by the company are life insurance plans, pension plans, child insurance plans, unit linked plans, special plans and group scheme. With a networkof 2,048branches the company has a huge number of employees operating in different cities and town all over the country. LIC has a claim settlement ratio of 98.19% with maximum grievances settled over year.
Also read : LIC Cancer Cover Insurance plans
6) Reliance Life Insurance Company
One of the India’s largest life insurance firm Reliance Life Insurance is a part of Reliance capital of the Reliance Group. The company has over 10 million policyholder country wise with a network close to 1,230 branches across the country. The company is currently the largest non-bank supported private life insurer in India. Reliance Life Insurance has claim settlement ration of approximately 95.01% and have a record of maximum grievances resolved over a year.
The company mainly target products to individuals along with the group sand corporate entities. The company offers some of the most comprehensive plans like retirement, children, protection, investment and health plan. The maximum tenure of the policies are 35 years and the eligibility criteria to avail the criteria starts from minimum 18 years – maximum 55 years.
7)SBI Life Insurance Company
Introduced in year 2001, SBI Life Insurance Company is a Joint venture between State Bank of India and BNP Paribas Cardif. Holding a share of 6.12% of the total market currently the company is the biggest private sector insurance company in India. SBI Life Insurance Company offers an inclusive range of life insurance and pension products at a very economical rate. With a claim settlement ratio of 95.70% the customers have testify the most number of grievances resolved by this company. As one of the top most insurance company in India it offers variant plans like saving plan, unit link plan, protection plan, child plan and pension plan to cater the need of an individuals.
8)TATA AIA Life Insurance Company
TATA Sons and the AIA Group teamed up to form a joint venture and has launched TATA AIA life Insurance Company. In this venture the majority of stake i.e. 75% is held by TATA Sons and 26 % by AIA Group of company. The company works with a customer centric approach and offers an extensive range of Insurance Product to people, association and corporate insurance buyers. Started working in year 2001 the company provides various plan in multiple segments like group plan, child plan, wealth plan, protection plan, saving plan and micro insurance plan. Among the numerous insurance companies in India, TATA AIA Life Insurance has made a remarkable position in the insurance sector of the country.
Also read : What Is A Car Insurance
What is a Car Insurance? insurance companies
A car is deemed to be a prized possession and you would want to protect it from all the possible risks. Accidents, thefts, fire, etc. are some of the perils which pose a threat to your car. In the case of an accident, the risk would be even higher as human life is involved. Car/ Vehicle insurance is a tool to protect you from these risks and financial losses. As per the Motor Vehicle Act, all vehicles operating in public places should have at least a third party liability cover. We recommend a Comprehensive Cover which includes accidental damage to the vehicle, loss due to Natural/ Un-Natural Calamities, Theft and Third Party Liability, in case there has been any unexpected event.