Top 10 Life Insurance Company in India
Life Insurance
Life insurance financially
protects your loved ones. Life is a game, being a more specific game
of chess where life
can declare checkmate at any point in time, this is not
certain. Life is
beautiful, but also full of uncertain things.
Life Insurance
is defined as a contract between the insurance company and the policyholder,
where the life insurance company pays a specific sum to the insured
individual's family upon his death.
The life insurance sum is paid in exchange for
a specific amount of premium.
A contract with an insurance company is known as life insurance.
Top 10 Life Insurance Company in India Life Insurance Corporation Of India-
Life Insurance Corporation of India is known
as LIC is the largest life insurance company in India owned by the Government
of India, it is among the top 10 Insurance companies in India.
It makes insurance
accessible for every person in the country with 2048 branch
offices, 113
divisional offices, 8 zonal offices and 1381satellite offices.
Life insurance is
booming in India at present. There are many good life covers
offered by top good
companies in India. Everyone interested in choosing
a policy should do
this carefully.
Various life insurance
plans offered are different and have their features. LIC is one of the most
trusted one in the country. When it comes to claiming settlement the one record
made by LIC is
unmatched by any other
company and LIC settles over 99% of all the claims.
They provide easy to
manage and purchase plans hence it attracts people a lot.
1. Aegon Life Insurance Company
AEGON Life Insurance
Company Limited was established in
July 2008 to provide
life insurance to people to secure their future.
2.Aviva Life Insurance
Aviva Life Insurance
Company is a joint venture between Aviva plc, a British Assurance Company and
Dabur Group, an Indian conglomerate, it is the most trusted Private Life
Insurance Brand for years.
3. HDFC Life Insurance Company-HDFC Life Insurance company, one of the top insurance companies in India, it offers a wide range of
insurance and investment
solutions to various
customers.
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4.HDFC Life Insurance Company
HDFC Life Insurance Companyis Asia’s largest insurance group, it
offers various insurance solutions for unique insurance needs and it is well
known for providing excellent customer services and
satisfaction.
·
5. Bajaj Allianz Life Insurance Company
Bajaj Allianz
Life Insurance Company founded in the year
2001 has 759 branches
across the country to offer innovative insurance
solutions to various
and wide range of customers, well known for timely
services and best
services.
Also Read- Acko Bike Insurance
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6. Max Life Insurance Company
Max Life Insurance
Company founded in the year
2000 is the largest
non-bank private sector insurance company in India. It is
among one of the
fastest insurance company in India, it is one of the
fastest-growing
insurance companies in India.
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7. ICICI Prudential Life Insurance
ICICI Prudential Life Insurance Company is having strong
channels all over the
country and multiple distribution channels, it offers
long-term protection
and saving plans for a wide range of customer segment.
·
8. Bharti AXA Car Insurance Company
Bharti AXA Life Insurance Company
was founded in
the year 2006. The company excels in financial expertise and domestic
a business which has
made a really strong background for the company to deal with
the needs of customers
the company has designed various plans to cater to their
needs and
requirements.
·
9. Birla Life Insurance Company
Aditya Birla Sun
Life Insurance Company, founded in the year 2000 is a subsidiary of Aditya
Birla Capital Limited.
It offers various insurance plans
starting from protection plan to pension plan, saving plan and
many new-age products.
Claim Settlement
Claim settlement ratio (CSR) clarifies how
many claims are settled by the Insurance Company in a given financial year. CSR is
figured out as the total number of claims received
against the total a number of claims settled.
The claim settlement ratio reveals the percentage of
claims the insurer has paid out during a financial year. It is also defined as the
percentage of insurance claims settled by an insurer
in comparison to the total number of claims
received.
Claim Settlement Policy in India-
Claim Settlement Ratio
Health Insurance Companies in India are-
1. Reliance General Insurance Company
Reliance General Insurance Company Ltd. or
simply Reliance Insurance is one of the premiers
insurance companies in
India. The company is primarily promoted by Reliance
Capital, which is a
part of Reliance Anil Dhirubhai Ambani Group.
Reliance Insurance
came into existence in the year 2000 and after getting the license from
IRDAI it started its
insurance business in the same year. Since then the
company has become the
most trusted insurance service provider of the country.
·
2. Hdfc Ergo Health Insurance Company
Hdfc Ergo Two Wheeler Insurance is a 51:49 joint
the venture between
HDFC and ERGO International AG, one of the insurance entities
of the Munich Re Group
in Germany, it operates insurance under BFSI
sector. HDFC IS
India’s premier Housing Finance Institution.
Whereas ERGO is a group which is one
of the largest German Insurance company. It includes life
insurance, travel
insurance, health insurance and financial services.
·
3. Star Health Insurance Company
Star Health Insurance is one of the pre-eminent health
insurance companies in India. Started in 2006, Star Health and Allied
Insurance Ltd offer’s you with a wide variety of Health insurance and Overseas
Medical claim policies.
The company is focused
on providing excellent service and tailor-made policies for its customers.
Being the first standalone health insurance provider in India the company has
emerged as a reputed name in the Insurance business.
Claim Settlement Ratio
is a crucial factor to focus on as it depicts an insurer’s trend of settling
the claim. Before choosing one comparison of the claim settlement ratio of
various insurers.
The important part is the calculation of the claim settlement the ratio is done by dividing the total number
of death claims
received by the total number of settled among them.
If we give an example a life insurance company
receives 1000 death claims and
settles only 950, the
claim settlement ratio of that company will be 95%.
The higher the claim
settlement ratio of the company, it will be very beneficial
for individuals.
As per the data, only six companies have a claim settlement
the ratio of above 90%.
To
be safe go through the claim settlement ratio over several years before
choosing one for yourself. Because when you ask for a claim within a year or
two of taking the policy it is a process of detailed investigation.
The purpose of the
policy is of no use as such if the claim is not provided at the time of
requirement. Insurance companies use the premiums they receive to settle
claims. Guarantee your future and dreams of your family by believing in the
Life insurance policy.
Life Insurance Company
List-
AEGON Life Insurance
Aviva Life Insurance
Bajaj Allianz Life Insurance
Bharti AXA Life Insurance
Birla Sun Life Insurance
DHFL PRAMERICA Life Insurance
Thus Life Insurance is the best you can have both for the Individual and married Life.
This is the ultimate blessing you can buy by paying the premium
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