An insured life promises you that any eventuality in your life will not hamper your family’s life, and they will have the same living standard as they are having in your presence.
This is the reason why people have become aware of insurance in India. They go for both life insurance and health insurance.
Earlier, Life insurance in India was provided by LIC only. Still, now the market has become very competitive, and private players have also entered the race, which ultimately benefited customers because the insurance company, which provides the maximum premium and provides tax rebate, is only preferred by customers.
On the other hand, Health insurance in India is a new concept that came a few years back. Previously only Government employees used to get this in which they used to get reimbursement of medical expenses which they used to do.
But now, even private companies join hands with health insurance companies to cover the money invested by their employees on their and their family’s illnesses.
Top 5 Life Insurance Companies in India in 2022
In the market, Max health insurance, Bajaj insurance, Reliance insurance companies etc., are there. Hence private companies can take responsibility for their employees with the help of the presence of these players in the market.
Despite the financial crisis, there is quite a good amount of insurance companies in India- after all, it is a country with a population of 1 billion people.
Unfortunately, the great variety of companies offering insurance services is often confusing, which is why a list of the companies in India is likely to help you a lot when making your choice.
And here comes the list:
- Life Insurance Company (LIC)
- Bajaj Allianz Company
- Birla Sun Life Insurance
- AIG General Insurance
- Oriental Insurance
1. LIC
LIC is unsurprisingly taking first place as the leader of our Top 5 in India chart. It is pretty much like the choice of the ordinary Indian. According to the last statistics, 300 million people use the service of this company- this is roughly the whole population of the United States.
Link: https://licindia.in/
2. Bajaj Allianz Company
Bajaj Allianz Company is amongst the Top 5 Insurance companies in India, and it does deserve the bronze medal without any doubt. And who has not heard of the Allianz insurance company?
It is international and has branches almost all over the world- in all countries, it appears to be one of the most successful companies, and India does not seem to make an exception.
Link: https://www.bajajallianz.com/
3. Birla Sun Life Insurance
Birla Sun Life Insurance is the company that gets the bronze medal. It is quite popular amongst the Indians and a company with a good reputation, although it mainly specializes in life insurances. The company’s presence in India’s Top 5 Insurance companies is deserved.
Link: https://lifeinsurance.adityabirlacapital.com/
4. AIG General Insurance
AIG General Insurance has reached fourth place in the Top 5 insurance companies in India ranking. Anyway, this company seems to be gaining popularity, and it will likely reach a better ranking soon.
Link: https://www.tataaig.com/
5. Oriental Insurance
Oriental Insurance has grabbed fifth place as the last of India’s Top 5 insurance companies. However, being the last of the best five is quite a good achievement should not be neglected.
Link: https://orientalinsurance.org.in/
Insurance companies help people cover much of their losses by providing health and life insurance. Due to this, one can save their hard-earned money for future use and can save it.
We have our Angels in the market named ‘Life and health insurance companies to share medical expenses now. But one has to be very careful while selecting an insurance plan because many times, there are hidden costs that a customer is not aware of.
Hope these things will help you choose the best insurance plan for yourself.