Top Companies Offering Term Insurance in India

The sum assured, policy tenure and the premium rates are a few significant factors that influence the term insurance policy plan. However, you must not neglect the role an insurance provider plays to get a good deal. The insurer with a high claim settlement ratio will be more likely to smoothly provide the death benefits to the nominee after the demise of the life assured. Moreover, a good solvency and persistency ratio shows the reliability and credibility of the life assured. The following article contains a list of top insurance companies that offer exciting term insurance plans in India. 

Top Companies Offering Term Insurance in India

Here are some good insurance companies which can be considered while purchasing a term insurance policy. 

1. Life Insurance Corporation (LIC)

The Government of India owns the largest life insurance firm in India, the Life Insurance Corporation of India (LIC). Founded in 1956, LIC is regarded as one of India's top ten insurance companies. With 2048 branch offices, 113 divisional offices, 8 zonal offices and 1381 satellite offices, LIC strives to provide life insurance policies to everyone in the country. That is why it has a massive customer base of about 29 crores policyholders.LIC has established itself as a well-known insurance firm that provides great digital customer service, as well as branch offices and other partnerships, to its clients. It has a wide range of life insurance policies to fulfil the demands of a wide range of customers. In fact, the flexibility given by LIC plans is so broad that selecting one can be pretty challenging. As a result, LIC has been regularly recognised and awarded for all of its accomplishments.

2.  SBI Life Insurance Company

It is a joint venture between India's largest bank, State Bank of India (SBI), and BNP Paribas Cardif, a French multinational bank and financial services firm. SBI Life began as a life insurance company and has now expanded to include a multi-distribution channel. The company has been successful year after year, thanks to excellent customer service and product advancements. Moreover, as many plan options with significant benefits are provided to the policyholders, SBI has emerged as a market leader among multiple life insurance companies in India. 

3. PNB MetLife Insurance Company

Founded in 2001, PNB MetLife Insurance Company is one of India's leading insurance firms. Through its multi-distribution channels, the company serves customers in over 7,000 locations, offering a variety of life insurance and savings products. PNB MetLife's diverse insurance offerings assist consumers in achieving their financial and security goals. It also provides exceptional customer service to ensure a smooth purchase and resolution. Due to this, PNB MetLife has won numerous honours for its achievements in the insurance industry.

4. HDFC Life Insurance Company

HDFC Life Insurance Company is a joint venture between HDFC Ltd, India's major housing financing organisation, and Standard Life Aberdeen, a multinational investment firm. Founded in 2000, It has become one of India's top insurance businesses that provides a diverse range of insurance and financial products to a variety of customer groups. HDFC Life has 412 locations around the country, as well as additional distribution touchpoints and bancassurance partners, to serve its consumers. Moreover, a robust digital platform allows customers to instantly access services. For its sustained contribution to the Indian insurance industry, HDFC Life has garnered numerous honours and awards. 

5. ICICI Prudential Life Insurance

ICICI Prudential Life Insurance Company is jointly promoted by ICICI Bank Limited and Prudential Corporation Holdings Limited. ICICI Prudential Life, established in the year 2000, is one of the best insurance companies in India, with a strong life insurance channel and diverse distribution channels. ICICI Prudential Life's customer-centric approach allows them to offer a variety of long-term protection and savings plans to a wide range of customers. ICICI Prudential Life Insurance Company has received numerous honours and awards for its achievements in the world of life insurance.

Endnotes

Besides these, Max Life Insurance Company, Bharti AXA Life Insurance Company, Bajaj Allianz Life Insurance Company, AEGON Life Insurance Company, Tata AIA Life Insurance Company, Kotak Life Insurance Company and Canara HSBC OBC Life Insurance Company can be considered while selecting an insurance provider. 

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