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FAQs
Which is the best insurance company in India in 2024? ›
What Are The Top 10 Life Insurance Companies In India 2024?
- HDFC Life Insurance Company. ...
- ICICI Prudential Life Insurance Company. ...
- Life Insurance Corporation (LIC) India Company. ...
- Max Life Insurance Company. ...
- PNB MetLife India Insurance Company. ...
- SBI Life Insurance Company. ...
- TATA AIA Life Insurance Company.
Top 10 Insurance Companies in India
- LIC Life Insurance:
- Max Life Insurance:
- Aditya Birla Sun Life Insurance Co. Ltd.:
- Tata AIA Life Insurance Co. Ltd.:
- ICICI Prudential Life Insurance Co. Ltd.:
- Bajaj Allianz Life Insurance Co. Ltd.:
- SBI Life Insurance Co. Ltd.:
- Kotak Mahindra Life Insurance Co. Ltd.:
Top life insurance companies
| Company | Best for | AM Best Financial Strength Rating |
|---|---|---|
| Nationwide | Customer satisfaction | A (Excellent) |
| Northwestern Mutual | Universal life insurance | A++ (Superior) |
| Prudential | Policy personalization | A+ (Superior) |
| State Farm | Term life insurance | A++ (Superior) |
Why Max Life Smart Secure tops our list
| Claim Settlement Ratio | Business Score | |
|---|---|---|
| Max Life | 99.4% | 7.5 |
| ICICI Prudential | 97.09% | 10 |
| Bajaj Allianz | 98.85% | 7.5 |
| HDFC Life | 98.69% | 10 |
| S.no | Insurance Company | CSR (2022-2023) |
|---|---|---|
| 1. | LIC of India | 98.74% |
| 2. | Max Life Insurance | 99.34% |
| 3. | HDFC Life Insurance | 98.66% |
| 4. | ICICI Prudential Life Insurance | 97.82% |
Among the top insurers, ICICI Prudential and Max Life have secured the highest scores in the survey due to their user-friendly products and plans, digital support, easy documentation and policy issuance. HDFC Life, Tata AIA and LIC were the other brands that finished in the top 5.
Who is the most trusted insurance company? ›Here are the best car insurance companies of 2024:
- Travelers: Best insurance company overall.
- American Family: Best for affordability.
- Geico: Best for accident forgiveness.
- NJM: Best for having few customer complaints.
- Auto-Owners: Best for financial strength.
- Amica: Best for discounts.
New York Life Group, Northwestern Mutual Group, and Metropolitan Group topped the list of largest companies in terms of direct premiums written, according to the 2023 Life and Fraternal Insurance Industry Report from the National Association of Insurance Commissioners (NAIC).
Which type of life insurance is best? ›If you have many dependents, whole life insurance may be a better route. However, if financial planning and cash value are most important to you, universal life insurance may be a strong option. Lastly, if you are a business owner, group life insurance might be the best life insurance option.
Which insurance company has most complaints in India? ›Number of complaints registered against life insurer India FY 2023, by insurer type. In the financial year 2023, the Life Insurance Corporation (LIC) had the highest number of complaints at 81.49 thousand, while private insurers had significantly fewer complaints at 45.88 thousand.
What is the most expensive life insurance in India? ›
India's most expensive policy: Closer to home, a policy4 was purchased with a premium of Rs 50 crore in Mumbai during the demonetisation wave. The record premium was paid by an individual for a pension plan.
Which life insurance company has the best claim ratio in India? ›In terms of number of policies settled during 2022-23, Max Life Insurance has the highest claim settlement ratio of 99.51%. With a 99.39% claim settlement ratio, HDFC Life Insurance came second on the list. Aegon Life Insurance bagged the third position with a 99.37% claim settlement ratio.
Which is the fastest growing insurance company in India? ›Kotak Mahindra Life Insurance is one of the fastest-growing insurers in the Indian market. Since its establishment in 2001, Kotak Life has served 50 million customers in 148 cities nationwide.
Who is the top 5 insurance company? ›Best Car Insurance Companies of September 2024
- Nationwide: Best Overall.
- USAA: Best for Military Members and Veterans.
- Travelers: Great for Drivers With a Speeding Ticket.
- Erie: Best for drivers who caused an accident.
- Progressive: Best for Drivers With a DUI.
- Geico: Great for Drivers With Poor Credit.
Sep 1, 2024
Low claim rejection
TATA AIA policy has an individual life claim settlement ratio1 of 98.53% in the financial year 2021-2022. When you apply for a life insurance policy, including a term policy, you are required to disclose information regarding your age, income, health history, and more.
In terms of number of policies settled during 2022-23, Max Life Insurance has the highest claim settlement ratio of 99.51%. With a 99.39% claim settlement ratio, HDFC Life Insurance came second on the list. Aegon Life Insurance bagged the third position with a 99.37% claim settlement ratio.