Top 10 Life Insurance Companies in India - Our List of Best 10

Top 10 Life Insurance Companies in India - Our List of Best 10:

Life Insurance is an important life decision taken by an individual. Not only does it provide benefits to the family and help with medical expenses, it also provides returns on Investments and provides tax exemptions. Today, many companies offering Insurance plans offer a wide range of plans like Savings, Loans, Health plans, Protection plans, Child and Retirement plans. Here is a list of best Top 10 Insurance companies in India.

Life Insurance Corporation of India (LIC):

LIC was found in the year 1956 in order to nationalize the insurance from being a private sector. It is considered as the best life insurance company in India. More than 245 companies came together in a merger to form the LIC. It currently operates in several cities and has 8 zonal offices, 113 divisional offices, 2048 branch offices and over 11, 63,604 agents all over India. The company offers a wide range of services like Pension plans, Insurance plans, Unit plans, Health plans, Savings schemes, Personal loans and Housing loans. It is the top most profit making and investment company with last year’s profit being 24,373 crore rupees.

Headquarters: Mumbai
Total no. of employees: 1, 19,767
Revenue: 3.26 lakh crore rupees
Website: http://www.licindia.in/

LIC is selected as one of the top 10 life insurance companies in India by our expert team.

ICICI Prudential Life Insurance Company:

ICICI Prudential is the result of the joint venture between ICICI Bank and Prudential plc. Prudential plc is a MNC in UK, together with ICICI Bank the Life insurance operations were started in the year 2000. It has 3 broad plans: Term plans, Wealth plans, Group plans, rural plans and Retirement plans. It is one of the top leading private insurance companies in India.

Headquarters: Mumbai
Revenue: 151.60 billion rupees
Profit: 16.34 billion rupees
Total no. of employees: Over 150,000
Website: http://www.iciciprulife.com/

ICICI Prudential Life Insurance company is selected as one of the top 10 life insurance companies in India by our expert team.

SBI Life Insurance Company:

SBI Life Insurance is the merger of SBI and BNP Paribas Cardiff holding 74% and 26% stake respectively. Founded in the year 2001 and currently offers a wide range of Life insurance policies and products. It was awarded the “Most trusted Private life Insurance Brand 2013” by the Economic Times. It is considered as one of the best life insurance companies in India.

Headquarters: Mumbai
Total no. of employees: 7,335 and 96,000 agents
Revenue: 12,780 crore rupees
Profit: 820 crore rupees
Website: http://www.sbilife.co.in/

SBI Life Insurance company is selected as one of the top 10 life insurance companies in India by our expert team.

Birla Sun Life Insurance Company Limited (BSLI):

BSLI is the joint venture of Aditya Birla Group and Sun Life Financial Incorporation, a top financial services company in Canada. The company was founded in the year 2000. It offers several insurance packages like the Protection plans, Health & Wellness solutions, Children’s future solutions, Retirement solutions, Wealth and Protection solutions, Rural plans, NRI plans and Savings with protection solutions. It is considered as one of the best life insurance companies in India.

Headquarters: Mumbai
Revenue: 9,247,800 thousand rupees
Total no. of employees: 120,000
Website: http://insurance.birlasunlife.com/

Birla Sun Life Insurance Company is selected as one of the top 10 life insurance companies in India by our expert team.

Reliance Life Insurance Company:

Reliance Life Insurance is one of the top most private sector Life insurance companies in India. It has over 800 branches, 1, 00,000 advisors and 10 million policyholders. The company is part of the Reliance Capital of Reliance Group. In 2011, Nippon Life Insurance Company in Japan acquired 26% stake in Reliance Life Insurance. The company offers various plans like Protection plans, Savings and Investment plans, Retirement plans, Unit linked plans, Child plans, Health plans and Solutions for Group. It is considered as one of the best life insurance companies in India.

Headquarters: Mumbai
Revenue: 2,582,202 thousand rupees
Profit: 1,351,791thousand rupees
Total no. employees: 124,000
Website: http://www.reliancelife.com/

Reliance Life Insurance company is selected as one of the top 10 life insurance companies in India by our expert team.

Tata AIG Insurance Company:

Tata AIG Insurance, founded in the year 2001 is the result of the joint venture between Tata Group and American International Group. The company offers a wide range of plans for individuals and companies, it has 98 offices spread across India. Apart from Personal, Corporate, Rural insurance plans, the company also provides car insurance, travel insurance, and health insurance policies.

Headquarters: Mumbai
Revenue: 836,330 thousand rupees (9 months ending Dec 2015)
Profit: 699,211 thousand rupees (9 months ending Dec 2015)
Total no. of employees: 2523 and 9446 agents
Website: http://www.tataaiginsurance.in/

Tata AIG Insurance company is selected as one of the top 10 life insurance companies in India by our expert team.

ING Vysya Life insurance (Exide Life Insurance):

ING Vysya Life Insurance Company was recently renamed as Exide Life Insurance Company. It was founded in the year 2001 and is currently owned by Excide Industries Limited. It has over 200 offices and customer care centers spread across India. It is one of the top most Insurance companies in the South and provides mainly long term protection schemes and savings plans. It is considered as one of the best life insurance companies in India.

Headquarters: Bangalore
Revenue: 6,462,937 thousand rupees (9 months ending Dec 2015)
Profit: 125, 469 thousand rupees (9 months ending Dec 2015)
Total no. of employees: 35,000
Website: http://www.exidelife.in/

ING Vysya Life Insurance company is selected as one of the top 10 life insurance companies in India by our expert team.

HDFC Life Insurance Company:

HDFC Life Insurance Company was founded in the year 2000 and is the joint venture of HDFC Limited and Standard Life. It is one among the top insurance companies and provides a wide range of insurance services for individuals and groups. Plans like Protection plans, Pension plans, saving plans, Investment plans and Health plans.  The company has 402 offices spread across India. It is considered as one of the best life insurance companies in India.

Headquarters: Mumbai
Total no. of employees: 80, 646 (9 months ending Dec 2015)
Revenue: 139 billion rupees (9 months ending Dec 2015)
Profit: 4.5 billion dollars
Website: http://www.hdfclife.com/

HDFC Life Insurance company is selected as one of the top 10 life insurance companies in India by our expert team.

BAJAJ Allianz Life Insurance Company:

Bajaj Allianz is the joint venture between Bajaj Finserv Limited and Allianz SE, it was founded in the year 2001. It has more than 722 branches all over India and provides Term Insurance plans, Unit Linked Endowment Plans, Savings and Investment Solutions. It is considered as one of the best life insurance companies in India.

Headquarters: Pune
Revenue: 2, 297, 849 thousand rupees (9 months ending Dec 2015)
Profit: 1, 907, 648 thousand rupees (9 months ending Dec 2015)
Website: https://www.bajajallianzlife.com/

Bajaj Allianz Life Insurance Company is selected as one of the top 10 life insurance companies in India by our expert team.

MAX Life Insurance company:

MAX Life Insurance is the joint venture of Max Financial Services Limited and Mitsui Sumitomo Insurance Co. Ltd. It offers services like Online term plan, Protection plans Child plans, Retirement plans, Growth plans, Savings plans and Group plans. It was founded in the year 2001 and currently has offices in 750 cities. Online schemes make it easy and do not require you going to an office. It is considered as one of the best life insurance companies in India.

Headquarters: New Delhi
Revenue: 8, 553, 803 thousand rupees
Profit: 1, 012, 397 thousand rupees
Website: http://www.maxlifeinsurance.com/

MAX Life Insurance company is selected as one of the top 10 life insurance companies in India by our expert team.