Top 10 Life Insurance Companies in India

If you want to retire respectfully and take care of your child’s education both at the same time then you need to have a right kind of life insurance plan.

You cannot afford to take risk because it is matter of death and life. If you have a right life insurance plan at your disposal then you can secure your future and of your entire family.

As we all know there is no shortage of life insurance Companies in India. Daily you see advertisements of life insurance companies in TV, Newspaper and even their agents selling plan door to door.

Therefore there are many life insurance companies in India.

However, choosing a right company that suits your budget and a right kind of plan is a great challenge. You need to find a company that is giving all that things that you desired in one plan.

Hence, I have jot down list of 10 best life insurance companies in India.

Although, on the Internet there are many websites and blogs about life insurance companies but they are written by amateurs.

This particular blog post gives you an overall understanding about the products and plans of a company.

Top 10 Life Insurance Companies in India

So, these are top 10 companies that you can look up to.

Ranking System:

Well! How do you rank a company? It means on which basis you rank a company.

Let me clear this point to you, a success of a company totally depends upon the number of claim settlement ratio. In simple words policies successfully claimed by customers like you.

Hence, higher the rank means higher claim settlement ratio.

1. LIC of India

It has more than 2 crore customers holding their insurance plan. LIC is perhaps the largest life insurance company in India.LIC of India

People normally choose LIC to get insured. You can trust this company from your closed eye. However, you have to be careful while choosing a plan.

Products: Insurance plans, Pension plans, Unit plans, Health plans

Some of its plans are:

  • Bima Plus
  • Future Plus
  • Jeevan Plus
  • Money Plus
  • Market Plus
  • Fortune Plus
  • Profit Plus
  • Child Fortune Plus
  • Endowment Plus

These were few best plans that LIC has to offer. For details you can visit the site at

2. ICICI Prudential

Our second best life insurance company is ICICI prudential. It has over 10 lacs people holding the plan. There are over 1000 branches all over India.

It has also a variety of plans like LIC. Some of ICICI’s plans areICICI Prudential Life Insurance

  • Term Plan
  • Child Plan
  • Wealth Plan
  • Health Plan
  • Retirement Plan
  • ULIP Plan
  • Group Plan
  • Rural Plan

These are some of its plan. What I like about the ICICI is the term plan. It is much better than LIC because terms and conditions are very easy to understand and realistic too.

You need to get into each of these plans by going at the website

3. Reliance Life

Reliance life is the 3rd company in our countdown list. It has over 7 lacs customers. One of the great things about this company is that it is growing rapidly compared to other life insurance companies in private sector.Reliance Life Insurance

Some of its plans are

  • Protection Plan
  • Saving & Investment Plans
  • Retirement Plan
  • Unit Linked Plan
  • Child Plan
  • Health Plan

The thing that sets Reliance Life from others is Reliance Life Insurance eTerm Plan.

You can dig deep into it at

4. Bajaj Allianz

The fourth company in our countdown list is Bajaj Allianz. It has over 6.5 lacs policies sold. This is tentative figure hence it could be even more.

Bajaj Allianz is liked by people coming from upper middle class background because it has well laid out plan structure.Bajaj Allianz

Term Plan

  • iSecure Term

Investment Plan

  • iGain III

Retirement Plan

  • Cash Rich Insurance Plan

Child Plan

  • Super CashGain Insurance Plan

Although Bajaj Allianz has plans for car and travel insurance but as far as life insurance is concerned iSecure Term plan is the best. I have known many satisfied customers using iSecure Term.

5. Birla Sunlife

Birla Sunlife Insurance plan is 5th best in our top 10 best insurance companies. It has over 6 lacs customers with the policy.

Some of their plans areBirla Sun Life Insurance Company

  • Protection Plan
  • Premium Back Term Plan
  • Protection Plus Plan
  • Future Guard Plan
  • Classic Life Plan
  • Dream Life Plan
  • Empower Pension Plan

To be honest I know people who are using this plan and they say that there is nothing special about Birla Sunlife Insurance. Only thing that they like is the customer support.

Hence for more detail visit

6. SBI Life Insurance

SBI is 6th best life insurance company. I got to know about SBI life insurance plan while I used to visit the bank.

Their plans are mediocre and have over 5.5 lacs policies sold.SBI Life Insurance Company

Its protection plans are

  • eShield
  • Smart Shield
  • Smart Income Shield
  • Swadhan
  • Saral Shield
  • Grameen Bima

It also has pension plans and saving plans. Moreover, it has worst customer care service compared to other private life insurance companies.

I don’t find SBI life insurance exciting. You could know more at

7. Max Life Insurance

Max Life Insurance Company is to look for. It may be small and ranked at 7th but solvency capital ratio is around 500%, which is way more than required 150%.

Protection Plan could be divided into two:max life insurance company

  • Platinum
  • Premium Return Term Plan

Retirement Plan

  • Forever Young Pension Plan
  • Life Partner Plus Plan
  • Immediate Annuity

Saving Plans

  • Whole Life
  • 20 Year Endowment
  • Endowment to Age 60
  • Life Gain Plus 20, 30 etc
  • Life Pay Money Back

Moreover, it has great customer support and you could visit the site at

8. HDFC Standard

HDFC Standard is a private life insurance company and it is growing very rapidly. It is 8th best insurance company in India.

With over 500 branches in 900 cities and town in India HDFC standard has come a long way.

Some of their term plans that you might like to choose arehdfc standard life

  • Click 2 Protect
  • Term Assurance Plan
  • Premium Guarantee Plan
  • Loan Cover Term Insurance Plan

What I like most about HDFC standard is that it has many plans targeted towards women. If you have daughters then go for it.

For knowledge visit

9. TATA AIG General Insurance Company

Tata AIG is the 9th best company in India for life insurance. It has over 2 lacs policy holders across the country.

It has variety of plans however you have to choose a plan that suits you the most.

What attracted me the most is the individual personal accident plan.

You getTata AIG

  • Accident guard
  • Secured Future Plan
  • Maharaksha Personal Injury
  • Income Guard
  • Secured Income Plan

For more details visit

10. ING Vysya Life Insurance Co

The last insurance company in our top 10 list is ING Vysya Life Insurance Co.

Their shareholders are growing rapidly and that is the good sign.ING Vysya Insurance Company

Some of its protection plans are

  • My Term Insurance
  • Term Life Plus
  • Term Life Rider

The unique thing about ING Vysya is their inheritance plan for saving & investments.

Go to and dig into details.

Therefore this was the list of top 10 life insurance companies in India. Information and figures given in this article tend to change with time. Thus do not take it final.

Hence, before choosing a plan you should visit the website and find out every detail and then contact the customer care for more information. Only then you should go ahead.

For your convenience there is a link for the website of every Indian insurance company.

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