Here is a complete list of IRDA approved Life Insurers in India. Life Insurance Corporation of India (LIC) is only the Public Sector Company and other companies are private sector companies.
1. Bajaj Allianz Life Insurance Company Limited
The insurance company is a joint venture between the European Financial Services Company Allianz SE and Bajaj Finserv Limited. The company is considered as one of the top life insurer in India, provides huge array of products including ULIP and Child Plan to Group and Health Insurance.
Launched in 2001, Bajaj Allianz Life Insurance provides end-to-end solution to the customers. Company fulfils every single need of the customers and gives transparent benefits.
Know more at Bajaj Allianz Life Insurance Company Limited
2. Birla Sun Life Insurance Co. Ltd.
Established in 2000, the company is the joint venture between Aditya Birla Group and Sun Life Financial Inc. It has built relationship with more than 2.5 million customers, offering products such as ULIP plan, Customized Group Product, Protection Plan, Health and Retirement plan, Child Plan and Life Stage Product etc.
Know more at Birla Sun Life Insurance Co. Ltd.
3. HDFC Standard Life Insurance Co. Ltd.
This one of the top life insurer is the joint venture between Housing Development Financial Corporation Ltd. and Standard Life Plus. Launched in 2000, it offers 27 retail and 8 group products in portfolio. Array of products and plans such as Pension, Saving, Security, Child and Health Plans are offered at the company.
The company has best customized solution in order to fulfil the requirement of the customer.
Know more at HDFC Standard Life Insurance Co. Ltd.
4. ICICI Prudential Life Insurance Co. Ltd.
This insurance company is a joint venture of one of the India’s largest private banks “ICICI Bank Ltd.” and one of the leading international financial service groups “Prudential Plus”. Established in 2000, the company started as the first private Life Insurance firm in India. This insurer provides a wide array of plans including Pension, ULIP, Term, Child and Investment plans.
The company has retained its reputation as top most amongst the private life insurers in India.
Know more at ICICI Prudential Life Insurance Co. Ltd.
5. Exide Life Insurance Company Limited
The company is graded among top reliable Life Insurers in India. Formerly known as ING Vysya Life Insurance Company Ltd., it is owned by Exide Industries Ltd. Company provides customer centric plans including Pension, Saving, Protection and Investment plans.
Exide Life Insurance Company offers customized solution to its customer at very affordable price.
Know more at Exide Life Insurance Company Limited
6. Life Insurance Corporation of India (LIC)
The company is one of the oldest and largest insurance sectors of country. Founded in 1956, LIC is a public-sector insurance group and investment firm. A wide array of products including Pension Plans, Child Insurance Plans, Life Insurance Plans, Group Plan etc. are provided at the company.
With a wide network of 2,048 branches, the company has a vast number of employees working in diverse cities all over the India.
Know more at Life Insurance Corporation of India (LIC)
7. Max Life Insurance Co. Ltd.
The company is the joint venture between Max Financial services Ltd. and Mitsui Sumitomo Insurance Co. Ltd. The company is one of the leading insurers in India with multi-channel distribution partner. Wide range of products such as Protection, Saving and Retirement plans are offered by the company.
Max Life Insurance is named in offering one-stop solution to its customers for all type of insurance and investment requirements.
Know more at Max Life Insurance Co. Ltd.
8. PNB Metlife India Insurance Co. Ltd.
PNB Metlife Insurance Co. Ltd., an association of Punjab National Bank (PNB), is the one of leading life insurance Company in India. The company is ranged over 150 different sites and has more than 1800 clients all over the country. In 2013-2014, this insurer has recognized as best private sector insurance company.
Plans offered by the company are Child Plan, Monthly Income Plan, Saving Plan, ULIP Plan, Protection Plan, Retirement Plan and Money Back Plan.
Know more at PNB Metlife India Insurance Co. Ltd.
9. Kotak Mahindra Old Mutual Life Insurance Limited
The company is the joint venture between Kotak Mahindra Group and Old Mutual Fund. One of the fastest growing company in India, it has more than 4 million reliable policyholders countrywide. Kotak insurance delivers Customized products and excellent services. An eligibility criterion with minimum 18 to maximum 65 years is needed for insurance plans.
Plans offered by the company are ULIP, Investment, Protection, Child, Saving and Retirement.
Know more at Kotak Mahindra Old Mutual Life Insurance Limited
10. SBI Life Insurance Co. Ltd.
Introduced in 2001, this insurance company is the joint venture between State Bank of India and BNP Paribas Cardif. SBI Life Insurance Company is the biggest private sector insurer in India. A wide range of products includes Saving plan, Life insurance, Pension, Child Plan, Unit Link Plan and Protection Plan.
Know more at SBI Life Insurance Co. Ltd.
11. Tata AIA Life Insurance Company Limited
The company is the joint venture between TATA Sons and AIA Group. The insurance firm has made a significant reputation in India. Founded in 2001, the insurance company provides a range of top quality products including Saving Plan, Group Plan, Protection Plan, Wealth Plan, Child plan and Micro Insurance Plan.
Know more at Tata AIA Life Insurance Company Limited
12. Reliance Nippon Life Insurance Company Limited
Reliance Nippon Life Insurance Company Limited (formerly known as Reliance Life Insurance), is a part of Reliance capital of the Reliance Group. The company is one of the biggest non-bank private life insurance companies in the country. As on March 31, 2016, the insurance company has over 10 million policyholders. Reliance is also spanned with a robust network of over 800 offices and 1,00,000 advisors all over India.
Five distinct segments namely Protection, Child, Pension, Health, and Saving & Investment are offered at the company.
Know more at Reliance Nippon Life Insurance Company Limited
13. Aviva Life Insurance Company India Limited
The company is the joint between the group companies Dabur Group and Aviva Group. Aviva has large number of customers with 121 central offices across the country. The insurance firm is the first company, which introduces 1) Unit Link & 2) Unitized with Profit Plans in the market.
Some of the Plans offered at the company are Ruler Plan, Saving Plan, Protection Plan, Child Plan, Term Plan etc.
Know more at Aviva Life Insurance Company India Limited
14. Sahara India Life Insurance Co. Ltd.
Established in 2004, the company is one of the trusted and oldest insurance companies in India. Sahara Life Insurance Company is Country’s first entirely possessed private life insurance company.
Sahara provides customer-centric solution to its clients at very affordable range. Products include Unit Link Plan, Term Assurance Plan, Money Back Plan, Endowment Plan etc.
Know more at Sahara India Life Insurance Co. Ltd.
15. Shriram Life Insurance Co. Ltd.
Major focus on ruler market, the company offers the services to the more economically weaker section of the country. Founded in 2005, Shriram Life Insurance is spanned over 630 offices across the country.
The company has been renowned for efficient usage of capital and low operation cost.
Know more at Shriram Life Insurance Co. Ltd.
16. Bharti AXA Life Insurance Company Ltd.
The insurance company is the joint venture between Bharti Enterprises and AXA Group. Bharti AXA offers both Life as well as General insurance at competitive price. 123 offices are networked across India with swift customer support services.
Plans offered are Investment Plan, Life Insurance Plan, Child Plan and Traditional Plans.
Know more at Bharti AXA Life Insurance Company Ltd.
17. Future Generali India Life Insurance Company Limited
A joint venture among General Group, Future Group and IITL (Industrial Investment Trust Limited), the company is developed in 2007. The insurance company is spread over 98 branches and has processed more than 11 Lakhs policies. Future Generali India offers complete solution for all type of financial protection and services.
Products: Saving Plan, Protection Plan, Unit Link Plan.
Know more at Future Generali India Life Insurance Company Limited
18. IDBI Federal Life Insurance Company Ltd.
Established in 2008, the company is a joint venture among IDBI Bank, Federal Bank and Ageas –a European Insurance Company. The insurance company has a fastest developing network of more than 2000 branches across the India.
Products offered are Child Plan, Income Plan, Retirement Plan, Term Plan, Wealth Plan etc.
Know more at IDBI Federal Life Insurance Company Ltd.
19. Canara HSBC Oriental Bank of Commerce (OBC) Life Insurance Company Ltd.
A joint venture among HSBC Insurance Holding Ltd., Canara Bank and Oriental Bank, the company is wide networked brand with approx 7000 branches across India. Established in 2008, Canara HSBC OBC provides customized products to its valuable customers.
Plans: ULIP, Traditional, Protection and Group Plan.
20. AEGON Life Insurance Company Limited
Founded in 2008, the company is formerly known as Aegon Religare Life Insurance Company Limited. The company is the joint venture between “Aegon”, a global provider of life insurance, pensions & asset management and “Bennett, Coleman and Company”, India’s reputed media conglomerate.
The company delivers complete product suite, personalized guidance and enhancement of the overall customer experience.
Know more at AEGON Life Insurance Company Limited
21. DHFL Pramerica Life Insurance Co. Ltd.
Headquartered at Gurgaon, DHFL Pramerica Life Insurance Company Limited is one of rapidly growing company in the country. The company has 87 branches and has served more than 8 million customers.
Products: Child Plan, Retirement Plan, Saving Plan and Wealth Plan.
Know more at DHFL Pramerica Life Insurance Co. Ltd.
22. Star Union Dai-ichi Life Insurance Co. Ltd.
This life insurance company is launched with a joint venture of Bank of India, Union Bank of India and Dai-Ichi Life (the biggest life insurance company of Japan). The company is serving its clients across the nation via wide number of customer-centric products.
Products: Saving Plan, Protection Plan, Child Plan, Wealth Plan, Pension Plan, Term Plan and Credit Life plan.
Know more at Star Union Dai-ichi Life Insurance Co. Ltd.
23. IndiaFirst Life Insurance Company Limited
Headquartered in Mumbai, the company is the joint venture of Bank of Baroda, Andhra Bank (Indian Public Sector Bank) and Legal & General Firm (U.K. based investment firm). This insurance company has spanned over 4600 branches in more than 1000 cities.
Products: Child Plan, Protection Plan, Saving Plan, Pension Plan and Term Plan.
Know more at IndiaFirst Life Insurance Company Limited
24. Edelweiss Tokio Life Insurance Co. Ltd.
The company is the joint venture between Edelweiss Group of India and Tokyo Marine Holding of Japan. The insurance firm provides services with high returns and guaranteed interest payment.
Products: Child Plan, Saving Plan, Retirement Plan, Endowment Plan, Protection Plan. Company also provides other add-ons coverage at competitive price.
Know more at Edelweiss Tokio Life Insurance Co. Ltd.
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