List of insurance companies in India

Insurance companies in India play a crucial role in ensuring financial security for individuals, families, and businesses. They offer diverse insurance products, including life, health, motor, and travel coverage, catering to various protection needs.
List of insurance companies in India
3 mins
11-March-2025

The rise of many life insurance companies in India has helped provide financial security to many people. With the constantly evolving market needs, insurance companies are also adapting to offer policies based on new-age requirements. Choosing the right life insurance company can be a daunting task, but with the right information, it can be made easier. Here, we have listed the top insurance companies in India, their core USPs, and the benefits of their life insurance policies, along with tips to guide you in making the right decision.

Which are the top life insurance companies in India?

Here are some of the top life insurance companies that have partnered with Bajaj Finance to offer life insurance policies.

HDFC Life Insurance

With a diverse array of insurance products, HDFC Life takes pride in meeting varied needs, being among the top 10 insurance companies in India. High claim settlement ratios and an intuitive online platform enhance the user experience. Innovation is at the core, offering policies that blend insurance with investment benefits.

Bajaj Allianz Life Insurance

Known for customer-centricity, Bajaj Allianz, another insurance provider among the top 10 insurance companies in India, provides personalised solutions. An extensive network ensures accessibility, coupled with comprehensive plans such as term, ULIPs, and child plans. Collaborating with Bajaj Finance, it extends a holistic financial approach for policyholders.

 

Address and website details of leading life insurance companies in India

Here is the head office location, along with contact details and official website, where you can browse through the products online:

Company name

Address

Website

Email ID

Contact Number

HDFC Life Insurance

13th Floor, Lodha Excelus, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai - 400011, Maharashtra, India.

www.hdfclife.com

service@hdfclife.com

1800-266-9777

Bajaj Allianz Life Insurance

Bajaj Allianz House, Airport Road, Yerawada, Pune - 411006, Maharashtra, India.

www.bajajallianzlife.com

life@bajajallianz.co.in

1800-209-7272

 

Benefits of life insurance policies

Life insurance serves as a financial safety net, providing protection and peace of mind to policyholders and their families. Here are some key benefits:

  • Financial security: Life insurance ensures financial stability for dependants in the event of the policyholder's demise.
  • Investment opportunities: Certain policies offer a dual benefit of protection and investment, allowing policyholders to grow their wealth over time.
  • Tax benefits: Premiums paid towards life insurance policies are eligible for tax deductions under Section 80C of the Income Tax Act.
  • Critical illness coverage: Many life insurance plans now include coverage for critical illnesses, providing an additional layer of protection.

Read more: Savings plan

Tips to choose the best life insurance company

Selecting the right life insurance company is a crucial decision that requires careful consideration. Here are some pointers to guide you:

  • Assess your needs: Understand your financial goals and assess the coverage required to meet your family's needs adequately.
  • Research and compare: Explore different policies and compare features, benefits, and premiums offered by various insurance companies.
  • Claim settlement ratio: Consider the claim settlement ratio of the company, as a higher ratio indicates a better track record of settling claims.
  • Customer reviews: Look for customer reviews and testimonials to gauge the satisfaction levels of existing policyholders.
  • Customisation options: Choose a company that offers flexibility and customisation in policies to align with your specific requirements.

Pro Tip

Secure your future with ULIP – a smart dual-benefit plan offering investment growth and life cover at affordable premiums

health-insurance-banner

Who should consider buying life insurance?

Life insurance is essential for anyone who wants to secure their family’s financial future. Whether you are the primary earner, a business owner, or someone planning for retirement, a life insurance policy ensures financial stability in case of unforeseen events. It provides benefits such as income replacement, debt coverage, and future financial security for dependents.

Here are the people who should consider buying life insurance:

  • Breadwinners of the family: If your family depends on your income, life insurance ensures they remain financially stable even in your absence. The payout helps cover living expenses, education, and other financial needs.
  • Parents with young children: Life insurance secures your child’s future by covering education costs and essential expenses, ensuring they have financial support even if you are not around.
  • Individuals with loans and liabilities: If you have outstanding debts such as home loans, personal loans, or credit card dues, life insurance can prevent your family from bearing the financial burden after your demise.
  • Business owners: Entrepreneurs and business owners should get life insurance to ensure business continuity, pay off liabilities, or facilitate a smooth transition of ownership.
  • People planning for retirement: Some life insurance policies offer annuity benefits, helping you build a retirement corpus and ensuring a steady income post-retirement.
  • Young professionals: Buying life insurance at a young age means lower premiums and long-term financial security, making it a cost-effective choice for future planning.

Also, read: Term insurance plans

In conclusion, the plethora of life insurance options in India is a testament to the industry's growth and adaptability. As individuals, it is imperative to choose a life insurance company that not only meets your immediate needs but also aligns with your long-term financial goals. You can choose from a range of life insurance policies offered by top insurance companies in India through Bajaj Finance Insurance Mall. Bajaj Finance offers a 100% digital buy process, ensuring your purchase journey is easy and smooth.

Related articles:

Life insurance definition

Whole life cover in life insurance

Family life insurance

Types of life insurance

Life insurance death claim

Surrender value of life insurance

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Disclaimer

*T&C Apply - Bajaj Finance Limited (‘BFL’) is a registered corporate agent of third party insurance products of Bajaj Allianz Life Insurance Company Limited, HDFC Life Insurance Company Limited, Future Generali Life Insurance Company Limited, Life Insurance Corporation of India (LIC), Bajaj Allianz General Insurance Company Limited, SBI General Insurance Company Limited, ACKO General Insurance Company Limited, HDFC ERGO General Insurance Company, TATA AIG General Insurance Company Limited, ICICI Lombard General Insurance Company Limited, New India Assurance Limited, Chola MS General Insurance Company Limited, Zurich Kotak General Insurance Company Limited , Star Health & Allied  Insurance Company Limited, Care Health Insurance Company Limited,  Niva Bupa Health Insurance Company Limited, Aditya Birla Health Insurance Company Limited and Manipal Cigna Health Insurance Company Limited under the IRDAI composite CA registration number CA0101. Please note that, BFL does not underwrite the risk or act as an insurer. Your purchase of an insurance product is purely on a voluntary basis after your exercise of an independent due diligence on the suitability, viability of any insurance product. Any decision to purchase insurance product is solely at your own risk and responsibility and BFL shall not be liable for any loss or damage that any person may suffer, whether directly or indirectly. Please refer insurer's website for Policy Wordings. For more details on risk factors, terms and conditions and exclusions please read the product sales brochure carefully before concluding a sale. Tax benefits applicable if any, will be as per the prevailing tax laws. Tax laws are subject to change. BFL does NOT provide Tax/Investment advisory services.  Please consult your advisors before proceeding to purchase an insurance product. Visitors are hereby informed that their information submitted on the website may also be shared with insurers. BFL is also a distributor of other third-party products from Assistance Services providers such as CPP Assistance Services Pvt. Ltd., Bajaj Finserv Health Ltd. etc. All product information such as premium, benefits, exclusions, sum insured, value added services, etc. are authentic and solely based on the information received from the respective insurance company or the respective Assistance service provider company.

Note – While we have made all efforts and taken utmost care in gathering precise information about the products, features, benefits, etc. However, BFL cannot be held liable for any direct or indirect damage/loss. We request our customers to conduct their research about these products and refer to the respective product’s sales brochures before concluding their sale.