List of Top 5 Best life insurance companies in India on the basis of trust and reputation.
Nowadays Life insurance company has been providing a vast advertisement promises. It has been initiating people by granting various sorts of supplements like health, children, retirement, and other such plans. Life Insurance is classified into two components temporary and permanent. Below lists various types of insurance agencies:
1. LIC India
It is one of the largest insurance company and is a large investor and apart from this it is India’s largest insurance corporation. LIC is completely held by Government. It was emerged in 1956. It’s headquarters is in Mumbai. It consists of 2048 branches and 101 divisional offices at different parts of India employing 1 million agents.
2. Bajaj allianz insurance co. ltd
It is one of the leading insurance company and is spread over 70 countries. It’s branches are around 1200 across country. It is linked with traditional, child, pension policy. it’s head office is in Pune. The paid up capital is about Rs 110 crores.It has made a profit of Rs 180 crores and is a private insurer. With inclusion of tax it has increased it’s profit from Rs 121 crores.
3. ICICI Prudential Life Insurance
It is a joint anticipation to ICICI bank , a financial service bank. It is one of the first private sector insurance company began in 2000 series. It provides basic term plans like i-Protect online term plan, ICICI Pru Pure-Protect and ICICI Pru LifeGuard, and ULIP wealth plans like ICICI Pru LifeStage Wealth II, ICICI Pru LifeLink Wealth SP, ICICI Pru Pinnacle Super etc. It is further categorized to children’s plans, retirement plans, health plans.
4. SBI life insurance
SBI is a joint venture between SBI and BNP paribas widely growing since 2000. It owes Rs 2000 crores of authorized capital and paid up capital of Rs 1000 crores. The latest products of SBI life insurance are SBI smart performer and Unit plus super. Besides these it provides products like protection products, pension products, term insurance.
5. Reliance life insurance
It is one of the leading financial company ranked among top 3 financial sector banks. The equity share capital is about 26%. It is one of the largest revenue insurer having revenue of rs 12,199 crore. It has ranked over 500 firms in 2011. The insurance company consists of 4 different category plan—Young & Single, Just Married, Proud Parents and Pre-retirement.