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There are currently a total of 24 life insurance companies operating in India. These are approved and recognized by the Insurance Development and Regulatory Authority of India (IRDAI). Life is uncertain and unexpected. So, life insurance can only be taken out to deal with unpleasant situations. In this post, we have made a list of some life insurance companies that will be useful for you. So let’s start now.
Tata AIA Life Insurance Company:
Tata AIA is a joint venture with life insurance company Tata Sons Pvt. Which is a joint venture between AIA Group, one of the largest business entities, and Asia’s largest insurance company. Tata AIA Life Insurance Company was established in 2001. Its total assets amount to Rs 48,261 crore. Tata AIA Life Insurance Company is one of the trusted insurance brands in India and offers a wide range of insurance solutions from security to asset creation.
Life Insurance Corporation of India:
Life Insurance Corporation of India, also known as LIC. It is the largest insurance company owned by the Government of India and one of the 10 largest companies in India. LIC was started in 1956. LIC currently has 2048 branch offices, 113 divisional offices, 8 regional offices, and 1408 satellite offices spread across every corner of the country. And anyone can easily insure from anywhere.
At present, the total value of LIC (USD 450) is INR 3,111,847 crore. There are several life insurance policies offered by LIC that enable various insurers to insure themselves.
ICICI Prudential Life Insurance:
ICICI Prudential Life Insurance Company is operated by ICICI Bank and Prudential Corporation Holdings Limited. It was founded in 2000. This insurance is a very big and good company in India. The total value of ICICI Prudential Life is Rs 2,231.71 billion. These insurance companies are spread all over the country.
ICICI Prudential Life Insurance Company also received the award. ICICI has been awarded ‘Prudential Life Emerging Asia Awards 2018’ in the category of ‘Best Growth of Life Insurance’ and Most Profitable.
SBI Life Insurance Company:
SBI Life Insurance Company is a joint venture with the State Bank of India (SBI). Spread across every region of the country and currently, the maximum amount of SBI Life Insurance is INR 20 billion i.e. USD 290 million. SBI Life Insurance initially started as a bancassurance business which has expanded to multi-distribution channels and now the insurance company is growing year after year.
SBI Life has received several awards and accolades for its work in this field SBI Life Insurance Company is one of the top 7 life insurance policies in India It also offers various policies and benefits along with many benefits for policyholders.
Bajaj Allianz Life Insurance Company:
Bajaj Allianz Life Insurance Company is a joint venture between Bajaj Group and Bajaj Finserv Limited. And it was founded in 2001. Bajaj Allianz Life has a total of 759 branches across the country, providing innovative insurance solutions to various customers.
Bajaj Allianz Life Insurance Company has won many awards and recognitions in the insurance industry. And this company has received the Digital Technology Senate Award 2021.
Max Life Insurance Company:
was established in 2000. It is the second-largest non-bank private sector insurance company in India. Max Life Insurance Company is one of the fastest-growing insurance companies in India. The company has total assets of Rs 90,407 crore and more than 32 lakh customers.
These companies are spread across the country with a strong online presence. With a wide portfolio of multiple distribution channels, products, and offices, Max Life Insurance Company offers a wide range of awards and recognition. Max Life Insurance Company has received occasional awards and accolades.
HDFC Life Insurance Company:
HDFC Life Insurance Company is one of the largest companies in India. This company was founded in 2000. HDFC Life Insurance Company has a total of 390 branches and is also serving its customers across the country with Touchpoint and Bancassurance partners.
HDFC Insurance Company was awarded the YUVA Unstoppable Changemaker Award in 2021 and was recognized as a superbrand in 2021.