We have shortlisted the Top 8 Best Indian Life Insurance Companies based on The Claim Settlement Ratio (CSR), customer satisfaction level, and after-sale services. You can Try in These Companies.
1. Max Life
Max Life Insurance Company acquires top of the list. The company came into existence in 2000 and is the largest non-bank private sector insurance company in India.
It is a joint venture between Max Financial Services (Indian Company) and Mitsui Sumitomo Insurance Company (Japanese Insurance company), with assets under management crossing Rs. 50,000 Crores.
The Claim settlement ratio is 99.2% highest in the Life Insurance Industry that is 15,463 claims till now.
2. HDFC Life
The third place is occupied by HDFC Life Insurance Company. It is a joint venture between HDFC Ltd, India’s one of the biggest financial institutions, and Standard Life Aberdeen (a global investment company).
The company came into existence in 2000 and went on to become one of the most reputed insurance providers in the country.
The claim settlement ratio of the company is 99.07%, with 12,626 successful claims paid.
3. TATA AIA Life Insurance Company
In the second place, it is a joint venture of TATA AIG Life Insurance Company and AIA (American International Assurance) Hong Kong-based Company. The company’s strengths have been in Tata’s established position as a reliable brand in the Indian market.
AIA is the largest independent insurance group globally, crossing 18 markets in the Asia Pacific. Tata AIA asset under management in 2019 is Rs. 28,430 Crores.
The claim settlement ratio is 99.06% as per the latest data, with 3,659 claims paid.
4. Pramerica Life Insurance
The fourth place goes to Pramerica Life Insurance The company came into existence in 2008 and has maintained its status as one of the most extensively recognized insurance companies in the country.
The insurance company is a joint venture between DHFL Investments Limited and Prudential International Insurance Holdings. Its customer-centric approach and strong bancassurance and distribution channels have made it one of the best insurance companies in India.
The company has a Claim Settlement Ratio of 98.42% backed with 569 claims paid.
5. Aegon Life Insurance Company
AEGON Life Insurance is engaged to furnish a client driven business alongside a brilliant and imaginative working experts.
Begun its activity in year 2008 the organization works with a numerous channel circulation procedure with an expect to assist individuals with arranging their life in a greatly improved manner.
The organization has dispatched a variety of items that centers around offering plans to the clients to meet their monetary objective.
6. Aviva Life Insurance Company
Aviva Life Insurance organization is a joint endeavor between the Dabur Group and Aviva Group. With 121 organized focuses the nation over Aviva Life Insurance serves an enormous number of client base nations astute.
Among the other insurance agencies in India the organization is known to initially present Unit Link and Unitized With-Profit Plan on the lookout. The Aviva Life Insurance Company offers a wide assortment of plans to the clients. These plans satisfy all the requirements and necessities of the purchasers at an extremely prudent cost.
7. Bajaj Allianz Life Insurance Company
Bajaj Allianz Life Insurance is a joint endeavor between the European monetary administrations organization Allianz SE and Bajaj Finserv Limited.
Among the other extra security organizations in India Bajaj Allianz Life Insurance Company meet its clients need by giving them an immense scope of items right from ULIP and Child Plan to Group and Health Insurance.
The organization gives an immense cluster of altered items that cook the each and every interest of the client and give them a straightforward advantage.
8. Bharti AXA Life Insurance Company
Settled in Mumbai Bharti AXA Life Insurance is a daily existence and general protection supplier organization. The organization is a joint endeavor between Bharti Enterprises and AXA Group.
The clients can look over the wide scope of strategies offered by the organization going from speculation plans to conventional arrangement or life coverage plan to kid plan.
The organization is prospering gigantically and has an organization of 123 workplaces in various urban areas across India. The clients has seen a most extreme complaints settled by the organization in a year and had encountered a case settlement proportion of 97.28%.
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