Who Has The Best Term Life Insurance Policy
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The best life insurance companies in India are very well known in the market. Regardless of whether one is a procuring member of the family or not, life insurance is something everybody must have, that excessively from an established and popular life insurance organization.
At present, there are 24 life insurance companies in India with just LIC of India being the government undertaking and the other 23 are either exclusive or joint ventures between at least two privately owned businesses (national and additionally global) or between privately owned businesses and public sector undertakings. These insurance companies offer one of the best insurance companies in India.
Top 3 Term Life Insurance Companies In India
Top 3 Life Insurance Companies In India 2022 are as follows:
1) LIC Insurance Corporation Of India
LIC Insurance Corporation Of India is one of the best life insurance companies in India. LIC of India basically stands for ‘Life Insurance Corporation’. LIC Insurance Corporation Of India is the oldest insurance company that provides a life insurance policy.
This company was founded in 1956. LIC Insurance Corporation Of India provides an offline life insurance policy. LIC Insurance Corporation sells many different products such as endowment plans, money back plans, term assurance plans, pension plans, children plans, group schemes, special plans, unit-linked plans, etc.
The claim settlement ratio of the life insurance policy of this company is 96.69%. That is 7,42,243 claims have been paid by this life insurance company till present.
2) ICICI Prudential Life Insurance
ICICI company is basically promoted by ICICI bank Prudential Corporation Holdings Limited. ICICI Prudential Life Insurance is the second-best life insurance company in India which is in the list of top life insurance companies in India 2022.
ICICI Prudential Life Insurance was established in the year 2001. From then it has been serving life insurance companies. Claim Settlement Ratio of ICICI Prudential Life Insurance is 97.90%. That is 11,546 claims have been paid by this life insurance company till present.
3) SBI Life Insurance
SBI Life Insurance is the third top life insurance company in India in 2019. This life insurance company is classified as one of the best life insurance companies in India by IRDA( Insurance Regulatory and Development Authority of India).
SBI Life Insurance Company is basically a joint venture between India’s largest bank State Bank of India and the leading global insurance company BNP Paribas Cardiff. Full-form of SBI is ‘State Bank OF India’. This life insurance company is one of the best life insurance companies in India.
SBI Life Insurance Company has a claim settlement ratio of 93.09%. That is 13,303 claims have been paid by this life insurance company till present.
Conclusion
So term life insurance policy is one of the important things in an individual’s life. These companies provide the best term life insurance company and life insurance policies must be issued from these top 03 life insurance companies in India 2022.
Also Read: How Can I Buy Child Plans Online In India
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