With the hype in the life insurance provider companies in the market, you need to opt the best policy for yourself. It is important to research about the company offering life insurance before buying. There are so many companies offering life insurance policies in the market. It gets difficult to trace out the best one amongst them. To choose one of the best life insurance companies, you need to dig deep through the topic.
There are companies that offer low premiums and some of them offer high premiums. A few provide long term care and some don’t. There are so many companies that provide different types of policies. You can purchase a policy of your choice from any company. Different companies offer different types of policies keeping the needs of the customers in mind. There are so many life insurance companies in the Indian market.
Most of the best life insurance companies offer the most coverage at a very lower rate. There are companies that provide good coverage for a long time and also provide customer support. We are here to discuss the best insurance companies in India. Keep reading for the relevant information about life insurance companies.
What is a life insurance company?
Before heading to a life insurance company, it is important to know what life insurance is. So life insurance is an agreement signed between an policy company and a person. Under this agreement the company promises to provide a sum assured to the family due to the uncertain death of the insured person.
In case of no death the sum assured is given at the time of policy maturity. This is known as maturity benefits. Some companies too offer optional coverage for critical health cases. There are 24 life insurance companies that provide life insurance in India. Here we have shortlisted 7 best life insurance companies for you. Continue reading for more information.
List of 7 best life insurance companies in India
We have listed top 7 life insurance companies in India below;
- Max life insurance
It is one of the leading life insurance companies in India. It is a company jointly ventured between Max Financial Services Limited and Axis Bank Limited. An Indian multi-business corporation, the Max group covers Max Financial services ltd. that is a part of this group. There are various life insurance products that Max life insurance offers.
The life insurance products like term insurance, return of premium insurance, Annuity insurance, Child plans, investment plans, money-back plans, ULIPs etc to individual groups. Max Life insurance has proved to be the best life insurance companies in the market. It is one of the highly trusted life insurance companies.
- AEGON Life insurance company
It is one of the top digital life insurance companies present in the Indian market. This company was launched along with AEGON N.V, which is an international life insurance provider and a pension asset management company. The company is India’s largest media corporation known as Times group.
It offers reasonably priced life insurance policies. The company takes notes of the customers’ needs. It fulfills all needs of the customer. The company is one of the best life insurance companies you can rely on.
- Bharti AXA Life insurance
The company is made in collaboration with Bharti enterprises. This enterprise is one of the leading business groups of India. The headquarters of AXA group is in Paris. The company is the leading group of business that is into Telecom, agricultural business, financial services etc.
The insurance company sells or offers various insurance products and policies at a wide scale. The company offers plans like savings plans, children’s education plans, term insurance plans, ULIP plans etc. the customers are provided long term benefits. This is one of the best life insurance companies present in the market.
- Bajaj Allianz Life insurance
The company is one of the leading brands in the country in terms of life insurance policies. The company is a joint venture between Bajaj Finserv Limited which is owned by Bajaj group of India and Allianz which is a European company.
Bajaj Allianz company has introduced innovative solutions to various policy plans keeping the needs and requirements of the customers. The company provides various plans to serve the needs of different sections of the society. It is a trusted company amongst the life insurance companies in the market.
- HDFC Life insurance
This company is a standard life insurance company that is a supporter of the housing development finance corporation limited. It is one of the joint ventures between HDFC Ltd and Standard Life Aberdeen which is a global investment company. This life insurance company provides customer centric and innovative policies and plans that serve the needs of the customers.
With this the customers can secure their family’s future. This will help them in tax savings. The company offers a good range of plans keeping the needs of the customers in mind. The plans such as protection, pension, savings, investments, health solutions etc. This is one of the best life insurance companies in India.
- Exide Life insurance
This is one of the most trusted companies in India. It is listed in the top 10 life insurance company’s rankings. The former name of the company is ING Vysya Life insurance company. This is a non-governmental and commercial company. Its headquarter is located in Bangalore. The company is owned by Exide industries limited.
It serves approximately 15 lakhs of customers. It focuses on providing long term protection plans to the customers. The company has a strong traditional product portfolio with a good bonus record in the life insurance sector. Exide provides need based insurance policies to its customers. It is one of the recommended life insurance companies in the Indian market.
- Kotak Mahindra Life Insurance
It is one of the fastest growing companies. It is considered to be the best company. The company is formed with the joint venture of Kotak Mahindra bank limited along with Old Mutual limited. The company provides a good range of financial products to serve the needs of the individual or the corporate.
This life insurance policy saves the customer’s future, providing you with profitable returns. The policies here are affordable and with a wide range. This is one of the best life insurance companies.
How to choose the best life insurance company?
A company that provides you with a life risk cover plan for you and your family in case of some mishap. Life insurance is a scheme in which the following company which you have opted for pays the benefits to the insured person. It is an important part of any financial plan. You need to have the best life insurance policy to help your loved ones in the time of mishaps.
You can choose the best policy facilitating your needs by comparing the rates of various companies. The company’s rates vary with various factors like age, health, location of residence etc. We have provided you with the list of the best life insurance companies in India.
Tips and tricks to opt for the best life insurance
Before choosing any life insurance policy, you need to look for various factors the company is providing. The first and foremost factor to be considered is the cost of the policy. Despite this, there are other factors like premium rates or whether it provides the free quote or not. You need to know about the terms and conditions of the policy.
Tips to be followed before choosing the best life insurance policy
- You should compare the quotes of the company online.
- It is a must to check the company’s financial strength.
- You need to check for the benefits and features of the company.
- Go through the customer’s reviews.
- You must be aware of the company’s terms and conditions.
- You should know about exclusions.
- Try and look for traditional riders.
How can you buy the best policy of the best company?
Buying any policy can be a daunting process. It is hard to find the best company and you need to consider a lot of factors. To buy the best life insurance policy, you need to follow the below mentioned steps.
- You need to go to the PolicyBachat Website. Click on the life tab.
- You should provide the required information like name, date of birth etc.
- You should compare the premium rates from the list of the companies provided.
- Now select the suitable plans depending on your requirements.
- Then make payment through online payment mode.
We are very sure that you will find this article very informative and useful. Try to follow all these above mentioned tips. You will definitely find the best life insurance policies for you and your family. For more such articles, do follow our website.