Term insurance companies in India
There are 24 life insurance companies in India. Together all these companies provide myriads of plans and policies which span across Term Insurance, Retirement plans, Savings plans, ULIPs and many more. Here we cover details of product offerings for some of the top life insurers in the industry
Aditya Birla Sun Life
Aditya Birla Sun Life is a joint venture between Aditya Birla Capital and Canada based Sun Life Financial Inc. The company was founded in 2000 and has been one of the most popular life insurers in the country offering protection plans, child savings plans, income plans and ULIPs.
Founded in 2000, HDFC Life is a leading life insurance company having a country-wide presence with 390 branches. In fact, coming from a solid lineage of the biggest private bank, today HDFC Life has become the 3rd largest private life insurer in the country. Its product offerings span across term insurance, savings plan, unit-linked plan, and also group.
Founded in 2001, Kotak Life Insurance has become the fifth largest private insurer in the country in terms of total business. Its product offering ranges from pure protection plans like term plans to endowment plans like savings, investment and retirement plans.
Founded in 2001, PNB Metlife is a joint venture between Punjab National Bank, MetLife International Holdings, M. Pallonji and Company Private Limited and Jammu & Kashmir Bank Limited. Its product offering spans across life insurance solutions for Child Education, Family Protection, Long Term Saving and Retirement plans
A joint venture between the owner of India’s biggest conglomerate, Tata Sons and largest life insurer in Asia-Pacific AIA Group, TATA AIA Life Insurance has grown to become one of the leading private life insurers in the country offering all types of products like protection, savings, ULIPs and many more
Bajaj Allianz Life
Bajaj Allianz is a joint venture between two notable entities, Bajaj Finserv, a major NBFC in India and Allianz SE, one of the largest financial services companies in the world. The company provides a diverse range of life insurance products like term plans, ULIPs, savings plans and retirement plans.
ICICI Prudential Life Insurance is a joint venture between ICICI Bank and Prudential Plc., a major financial services company based in the UK. Since its commencement in 2000, ICICI Prudential has grown so immensely that today it is the second largest private life insurance company in India.
Founded in 2000, Max Life is a joint venture between Max Financial Services and Axis Bank. Belonging to Max Group, a well renowned conglomerate, Max Life today has become one of the top private life insurers offering a wide range of plans like term plans, savings plan, market-linked plans and many more.
Reliance Nippon Life
Erstwhile Reliance Life Insurance which was originally founded in 2001 recently became a partnership between Reliance Capital and Japan based Nippon Life Insurance in 2019. A leading private life insurer, the company offers individual and group term plans, savings and retirement plans and ULIP plans