Car Insurance

What Is The Best Way To Buy Motor Insurance Plans In India?

With the advent of online platform where you can compare a car or a bike has made the process of buying for regular customers very easy. Since the factors on the basis of which things can be compared are quantifiable so it becomes very easy for a regular customer even though they don’t understand the technicalities around a car or bike.

Other than that online, auto magazine can be of great help, but when it comes to buying motor insurance for your car or bike things are quite thoughSince it is quite tough to find quantifiable value around an insurance policy so things become worse while finding the right policy around a car or bike.

The complexity of financial products, unknown jargons used by offline brokers and insurance company make the process tougher. There are quite lot of chance that a wrong policy being sold to you which you can’t even understand till the time you make a claim. Plus there are calculation around understand the right IDV for which one should take a policy.

The chain of registered garages any insurance company has is still not identifiable information and you might end up buy Motor Insurance Online plans from an insurance company which doesn’t offer cashless facility in the city of residence.

One of the smarter solutions to this never ending problem is to buy a motor insurance online. Now there are lots of online insurance comparison websites which are registered under the guidelines of web aggregators or as insurance brokers of the insurance regulator can act as quite beneficial tool. Another big problem this entire website solves is helping users in identifying the right policy. There are thirty two general insurance companies which are offering motor insurance plans. In fact there are a lot of variants available for the same plan too.

To understand the overall process by not going into the hassles is tough to think off in an online scenario. Online comparison of motor insurance plans can act as a helpful enabler in this case. Through all these online tools we can understand our requirement easily and find the most optimized solutions which fit into one’s requirement. Online insurance comparison can help you to understand the nuance of each and every plan available in the market today in a very easy manner. You can easily judge which one is good and which one bad for you plus the online comparison also help to you in buy car insurance online plans India and also which leads to lot of savings.

So the online comparison of motor insurance can acts as a real savior to help one to buy the best motor insurance policy that fits one’s requirement in the true sense

Term Insurance

How to Buy the Right Term Insurance plans in India?

When we are speaking of buying the right insurance term insurance is something that always comes in anybody’s mind. You should always keep in mind that Insurance is actually financial protection against emergency and what you should look at the paying the insurance company is a price for it. The insurance company takes the risk on you behalf and refunds you with a claim amount depending on the sum assured. A regular term policy for continuation of the benefits needs to be renewed every year. You can also opt payment of premium on quarterly or half yearly basis but then the cost of protection will always be high.

Buying a term insurance is always very helpful which you are doing the same at an early age. People at early age are believed to be a low risk for the price charged as premium for any amount of sum assured is always very less compared to what you pay at an older age. But this doesn’t say that you can’t have a term insurance at an old age. The insurance requirement generally increases as you grow old and your financial situation improves. While taking the policy at an early age people generally not able calculate the exact amount of sum assured so it is always advised that you start the policy and early age and increase the cover as your financial requirements increase. Starting early will always have its own benefits and the insurance company will continue the benefits even if you increase the cover at a later age.

The challenge here is now to Buy Best Life Insurance Policy India. There are close fifteen plus insurance companies in India offering term insurance plans. Every plan has some specific feature customized to suit specific needs. Plus there are certain complex calculations which need to keep in mind to buy the right policy. In fact it is always believe that people buying term plans online are more knowledge and they have already taken steps to protect him / herself for future risks so insurance companies have started offering online term plans which are bit different from the regular term plans which is available through offline agents. Online term plans are generally cheaper than their offline variants since the insurer views the risk associated with online policyholder is less. The smartest way to buy a term policy is to buy it online, online websites acts as facilitators for this particular job. You can easily compare term insurance plans online, know the underlying nuances and identify the best features available that suits your needs. This is actually a herculean task if you try to do it offline. Online comparison of term plans help you to take the right decisions keeping you future needs in mind and help you understand the right price that one should pay for safeguarding a particular amount of risk.

We should remember that emergencies can occur any time. if you are the sole bread earner in the family any mishap happening to you can have disastrous consequences when their financial well being too. Their life is aligned to your well being so get insured with the right term insurance cover as early as possible.

LIC Policy

LIC Policy – Everything You Need to Know (UPDATED SEP 2017)

Updated on 7th September 2017

Purchasing an LIC policy is not as easy as other people make it seem. Whether you have the help of a reliable insurance agent or are purchasing on your own terms, getting a Life Insurance Corporation (LIC) policy requires extensive research and preparation.

Buying life insurance is basically the same as jumping into the water with your life jacket on. You must know what you are getting into before you give your stamp of approval.

Here is a list of things you need to know prior to purchasing an LIC policy:

It is important to identify your needs

As an insurance buyer, you must have a clear set of standards. What type of insurance are you looking for? Do you want the regular life insurance plan or one with added features (i.e. accident and health, endowment or investment)?

For how long do you intend to pay? Are you buying for yourself or for your whole family? By identifying these insurance needs, you get to narrow down your choices and can better compare insurance packages from different providers.

If you have difficulty pointing out your needs but are still keen to buy an LIC plan, then you should seriously consider talking to an insurance agent. Look up agents near your residence. If you search online, you can read testimonies and reviews about various insurance agents. From there, you can select the agent who you think can provide you with the right answers.

If not, just call LIC, request to be referred to an agent and, when an agent is available, relay all your insurance concerns to that agent so that he or she can assess your needs and recommend suitable policies.

The ideal way is to choose a coverage that matches your financial capacity

Many life insurance buyers who fail to pay on time have bought policies with high premiums. Some buyers end up terminating their plan because they could no longer afford to pay. Others would argue that insurance prices have surged so unreasonably over the years.

Hence, the inability to pay. However, more often than not, it is not because insurance prices have increased that some people could not pay on time or put a stopper on their policies. One of the main reasons is that they chose a coverage they could barely afford.

The trick is to gather as much information as possible, compare different types of policies, evaluate whether they fit your budget and then decide accordingly. Never purchase a life insurance policy without knowing what top insurance companies in India are offering. You must have a clear idea of how much you would like to be covered so that you can pay for your policy until it matures.

Comparison lets you find the right LIC Policy for your needs

Besides sifting through insurance policies, comparing prices and reading through the terms and conditions, buyers also need to pay attention to two different types of life insurance plans. One is called term insurance, which is generally characterized by low premiums in the first few years.

Though affordable, this type of life insurance is plain and you cannot make additional money from it for future use. On one hand, cash value life insurance has three categories: universal, whole and variable. Each of these categories have different saving and money-making mechanisms. What they do have in common is that you have bigger return on investments after the maturation of the life insurance plan.

The advantage of the latter plan is that the additional money you generate can be used in the future. Decide whether getting a cash value life insurance is better than getting a simple low-premium term insurance. Neither one is greater than the other but choose the type of plan that suits your insurance needs.

Reading your life insurance policy thoroughly can spare you from future worries

You may have consulted with the best LIC agent in town but agents can only explain and make you understand your policy so much. To know every specific detail from yearly premium increases to payment interests to the scope and limitation of your benefits, you must take time to read and understand your policy.

In fact, it is ideal to read it before finalizing your purchase decision. The policy will set you straight about everything and let you know what you are getting into. If you do not agree or find it hard to compromise with the policy, then you have every right to bail out – that is if you read it before making your initial payment.

Top insurance companies in India set different terms and conditions. That is why during the comparison stage, it would be ideal to go through the policies of all insurance plans in your short list. This can be a time-consuming process, but if you want the best life insurance plan out there, then you have to leave no stone unturned. Sooner or later, you will be thankful for the effort you put in.

Keeping your existing policy is better than discarding it

If you are not happy with your existing policy, there is no need to cancel it. You can certainly buy a new life insurance plan with a better policy but there is more to be gained by keeping your current policy than totally replacing it.

Try to see if your existing policy can be changed or adjusted to the coverage or benefits you want. Many insurance companies provide this option. It would be such a waste to cancel your existing policy. You can also go for a plan with a top-up feature so that your existing plan can still be utilized.

Information dispels doubt and fosters understanding

Many insurance buyers regret their past policy choices and charge their mistakes to experience. However, first-time life insurance buyers need not go through such an experience just to get the perfect policy for their needs. If you are new to life insurance, the only antidote to your anxiousness and doubts is being informed.

In addition to reading your policy from cover to cover, poring through online articles and reviews, and discussing your concerns with an agent, you also need to expand your information sources by keeping up-to-date with insurance news, market trends, and the economy, among others.

With more pieces of information at your disposal, you are less likely to choose the wrong life insurance program

A well-informed and reliable insurance agent is cost-efficient

If there are first-time buyers and buyers with existing insurance plans, there are also buyers who have no time to read their policies but have enough budget to buy a good life insurance program. What these buyers need is an agent who can explain the nitty-gritty of a policy within a short time frame. This agent must also be objective so that buyers with a busy schedule can see the pros and cons of each insurance program and choose well, in accordance with their preference.

Buyers must proceed carefully when touching base with an agent. Some agents tend to pressure clients into buying expensive policies that do not even suit their needs. If you are unsure, just ask the insurance provider directly and they will be the one to refer you to a reliable agent. Also, take note that a number of trustworthy and star-rated agents work for top insurance companies in India. Reading about their background and reviews or testimonials about their services would be helpful.

The type of LIC policy or insurance plan you get is only as good as your effort. If you want to obtain the coverage or benefits of your preference, then you must go the extra mile.

By setting your life insurance priorities, reading your policy, being informed and communicating with the right agent, you can certainly get an insurance plan that you know you deserve.

Third Party Insurance

Learning More About Third Party Insurance In India

Interested in learning more about third party insurance options in India?  Let’s break it down, looking specifically at the mandatory third party motor insurance drivers that many of the top insurance companies in India provide.

What Is ‘Third Party Insurance?’

Let’s begin by breaking down what is legally meant by third party insurance so that you have the right idea moving forward.  Third party insurance is insurance that is provided by a party outside of the individual filing the claim or the individual receiving the filed claim.  It is often seen as a form of safeguard to ensure that relationships business or otherwise are properly protected financially.  You should know that there are situations in India where third party insurance is required.  For example, if you own or operate a vehicle, you are required to have third party insurance in order to operate that vehicle.  This is laid out in the Indian Motor Act.  There are other forms of third party insurance you may want to consider, even when it is not mandatory.  In the end, the point of third party insurance is to mitigate your risk.

Who Provides Third Party Insurance In India?

Because so many people in India are looking for motor insurance, let’s take a moment to review the best providers of third party insurance in the country.

1.  Tata AIG General Insurance

Providing a range of third party insurance options, Tata AIG General Insurance is a popular choice for auto insurance in India as well.  Along with a range of services offered to its clientele, Tata AIG General Insurance goes above and beyond for helping people get back on their feet after a motor accident.  This includes settling claims within 7 days, warranty for accident repairs lasting upwards of 6 months, and car pickup that is free of cost.

2.  Royal Sundaram General Insurance

Another general insurance provider, Royal Sundaram was the first to collaborate directly with banks to sell retail insurance policies.  In addition to providing drivers with 24×7 support for their third party motor insurance, Royal Sundaram also puts managers in charge of fixing road mishaps and getting the client through the long and often complex process.

3.  Bajaj Allianz General Insurance

Winning awards after award for superior service, Bajaj Allianz General Insurance does a great job with its third party insurance options for individuals.  Their motor insurance options reflect this.  With a whole host of services that put other insurance providers to shame, Bajaj Allianz General Insurance has managed to make an impressive name for itself.

Should I Consider Third Party Insurance?

In situations where it is mandatory, third party insurance provides both protection financially and protection from the law.  Risking a lack of insurance means risking possible actions taken against you.  In addition, for other forms of third party insurance not having to do with vehicles, understand that every additional level of insurance you take out will protect you financially if and when something goes wrong.

There is no price worth not paying for peace of mind.

Phone Insurance

Phone Insurance In India

Having an expensive smart phone means being able to do a lot while you are on the go.  The only problem is that you are not the only person impressed by your phone.  Thefts for smart phones in India, as well as the rest of the world continue to go up as reliance on these devices increase.

In India, only around 2% of smart phones are ever returned or found for their owners.  The other 98% of smart phone owners are out of luck.  Along with straight up theft, ransoming is not uncommon.

While the majority of smart phone thefts occur when the smart phone is left out in a public place (around 44%), there are still more than 10% of thefts that occur directly from assault or pickpocketing.

Even if you go out of your way to protect your phone, there is a very real chance that it may be stolen.  So, what can you do to protect yourself and your information?

Let’s take a moment to look out counter theft options as well as phone insurance plans provided by some of the top insurance companies in India so you have a better sense of what your options are.

Proactive Steps

There is not much you can do once your phone is stolen.  However, you can be proactive about your approach towards keeping your information safe by taking preventative steps and getting phone insurance.

The first thing you will want to do is make sure you have a means of destroying the phone remotely.  This can be either through an app you install yourself on the phone or directly through your carrier.  Destroying the phone remotely means that any person who stole it does not have access to your information.

They cannot hold it for ransom, or otherwise try to take information from you.  Instead, you deny them use of the phone, making their theft completely pointless.

The second thing you will want to do is to get phone insurance for your device.  In India, there are many private insurance companies that will provide you insurance for your phone  It is important to carefully read through the fine print on what they will cover, as well as the reviews left by past clients.  Having phone insurance is impractical if the company providing the insurance refuses to pay out on claims.

Putting It All Together

Will you require phone insurance?  Answering this question depends on how heavily you rely on your phone and the quality/cost of it.

For those with more expensive models, then insurance is crucial. With all things relating to insurance, doing a cost benefit analysis is crucial  If it turns out that getting insurance will save you more in the long run, then by all means consider getting it.

Home Loan Insurance

Home Loan Insurance

Every year homes are lost to natural disasters, accidents, and mishaps.  Whether a storm destroys a community or a freak fire results in the loss of your home, having coverage is essential.  For many, knowing the top insurance companies in India with insurance coverage for their home is critical as their coverage begins and ends with the basics of homeowners insurance.

Despite this insurance however, there may be holes where individuals and families may find themselves liable.  In particular, if something happens to the individual taking out the loan, then problems can result including the loss of the residency.

Let’s take a moment to review the home loan insurance in India to provide you a better understanding of its purpose and function in your life.

What Is The Purpose Of Home Loan Insurance?

The majority of individuals who purchase a home do not have the capital on hand to pay for the home outright.  Instead, individuals put down a deposit, and then pay the remainder over time using a specially designed loan frequently referred to as a mortgage.

The individual who is taking out the loan signs a contract, where they are responsible for paying back the money or risk losing the property to the provider.  The majority of the time, the individual will pay back the loan as stated in the contract.  However, complications can occur if the individual who took out the loan dies.  This is where home loan insurance comes in.

Home loan insurance covers the person taking out the home loan.  If the person happens to pass away, then the home loan insurance will cover the costs of the home.  The amount the home loan insurance will cover (whether full or partial) is dependent upon the contract the individual signs with the insurance provider.

Check the top insurance companies in India for affordable home loan insurance rates.

Who Should I Consider Home Loan Insurance?

The home and property have a great deal of financial worth.  A financial tool wielded by the homeowner, a home can be your greatest asset.  However, it is dependent on you paying off the mortgage and creditors.  You should consider home loan insurance if you have friends or family who you want the property to pass on to.

Without home loan insurance, your loved ones will be responsible for continuing payments.  They may not be able to do this.  Home loan insurance, like life insurance, is a safety measure to protect those you love the most.  While we do not like thinking about our own death, it is important to makes plans that safeguard those you are responsible for.

Rates for home loan insurance will depend a lot and the top insurance companies in India will all provide different rates based on your credit history, the size of your mortgage, and the nature of the property you own.

Typically, you go about collecting quotes before settling on a provider.  Once settled, you sign a contract that stipulates payment for a period of time and lays out the conditions of the contract.

Third Party Car Insurance

Third Party Car Insurance In India

Curious about the requirements necessary for driving in India?  Wondering what insurance provisions exists and whether or not driving in the country requires insurance?

Let’s take a moment to review these questions and provide information on third party car insurance offered by the top insurance companies in India so that you can get the right third party car insurance for you.

Third Party Car Insurance & India

Every hour, more than 14 people die due to traffic fatalities in India.  Often involving cars, buses, trucks, and motorcycles, these are but a fraction of the total accidents that occur on the roadways of India.  With any highly populated country, maintaining some semblance of order and financial restitution is a necessity in order to allow people to live their lives and recover in case of an accident.

India requires that every legal driver have a form of third party car insurance.  These requirements are put into place to ensure that every driver has the financial means to pay if they are found at fault.  Laid out clearly in the Indian Motor Act, you will need to find third party car insurance if you want to drive in the country.

Depending on the make, model, and overall wealth of your vehicle, you may also want to consider additional insurance on top of any plan you end up getting.  So, what are some solid choices for third party auto insurance in the country?

Below are three recognized names in the industry with generally positive track records.

Third Party Car Insurance Options

1.  Bajaj Allianz General Insurance

With many awards under its belt, Bajaj Allianz General Insurance does a great job with its auto insurance options.  Their motor insurance options include a wide range of services that help motorists get back on their feet.  Offering comparable rates and working with individuals when they need assistance the most, Bajaj Allianz General Insurance is definitely worth considering.

2.  Royal Sundaram General Insurance

Royal Sundaram collaborates directly with banks to provide a wide range of general insurance policies, including third party car insurance.  In addition to providing drivers with 24×7 support for their third party motor insurance, Royal Sundaram also puts managers in charge of fixing road mishaps and getting the client through the long and often complex process.

3.  Tata AIG General Insurance

Tata AIG General Insurance is a popular choice for auto insurance because it goes above and beyond helping people get back on their feet after a motor accident.  This includes settling claims within 7 days, warranty for accident repairs lasting upwards of 6 months, and car pickup that is free of cost.

Getting Third Party Insurance For Vehicles In India

The best way to get a competitive deal on your auto insurance is to call up various places and request quotes.  They will get back to you with their price, and you can compare it to the competition.

Be sure to read reviews on insurance companies left by other former clients to see how their services and the company react to having to pay out for claims.

Fire Insurance

A Quick Guide To Fire Insurance In India

Every country has its own unique set of laws and codes written on how insurance is supposed to operate.  With regulations on individual and group insurance plans, companies are left to comply with these rules and ensure that the coverage they offer is provided if and when the time comes.

Often separating good businesses from bad ones, knowing the top insurance companies in India is critical if you want the peace of mind that comes with the security of having your possessions covered against the threat of the unknown.

In India, a form of insurance that many people consider for their home is fire insurance.  How is fire insurance approached in relation to home insurance?

Let’s take a moment to go through this quick guide to fire insurance in India so that you have a better idea of what your options are.

Fire Insurance In India

In India, fire insurance businesses are regulated by Tariff known as the All India Fire Tariff.  The Tariff is specifically responsible for laying out the rules and regulations regarding fire insurance and the coverage of fire related damages to homes and properties.  This includes the conditions of the fire policy, rates, and coverage.  Also known as the Standard Fire and Special Perils Policy, it provides the following coverage.

It protects offices, hospitals, shops, and dwellings.  In addition, it also protects against industrial manufacturing risks that may develop including accessories and machinery.  Tanks and farm/gas holders for a myriad of uses is also covered, as well as outside the primary dwelling storage facilities, like say a barn.

What Things Does Fire Insurance In India Cover?

Fire insurance in India covers a general fire (not caused by you), lightening, explosions, implosions, damage from aircraft, damage from rioting, terrorism, fires caused by storms and severe weather, fires from impact damage and things like landslides, bush fires, and missile firing operations gone wrong.

You should be aware that there are specific things that the insurance for fire in India does not cover.  If you need one of these things covered ,then you should be looking for a specialty insurance provider.  The list of things not included in insurance are fire damages caused by overrunning machines, damage caused by items in cold storage that warm up, fire damage caused by nuclear activity, and damage caused by civil war, kindred perils, or war in general.

Finding The Right Insurance And Claims

If you are interested in having homeowners insurance that protects against fires, then a policy will be necessary.  With the range of coverage offered, the majority of issues faced by homeowners are covered.  If and when something happens, you are instructed to contact your Indian fire insurance provider and make them aware of the situation.  They will send a person to the scene to see what the cause of the fire is and determine whether or not there is coverage able to be offered as it relates to the policy you have.

Top Insurance Companies In India

Top Insurance Companies In India

Interested in learning more about the top insurance companies in India?  Whether you are considering public sector or private, there are countless options to choose from.

Ranging in coverage type, fees, policies, and directives regarding what you want insured, finding the right company is critical to getting the coverage you need.  With that in mind, below are 10 of the top insurance companies in India for you to consider.

Rated against one another and international standards, these insurance companies manage to come out as pack leaders.

 

1. The Life Insurance Corporation Of India

Also known as LIC, the Life Insurance Corporation of India is the largest life insurance provider in the country.  This includes more than 12 million individuals who are policyholders.  At this point, LIC has offered more than 120 million policies.  Unlike some of the private options listed below, LIC is owned by the government.  Typically, LIC orients itself towards group insurance plans.  In addition, it takes on pension plans as well as life insurance plans for individuals.

One reason why LIC is on the top of our list is because it is comprised of countless subsidies that expand insurance coverage to a range of places and types.  This includes far reaching insurance like their ‘Life Insurance Corporation of India International,’ as well as local operations like ‘LIC Housing Finance.’

Another reason why LIC is at the top of this list is because it has remained relatively adaptable to the markets as they change.  Utilizing information technology to better predict and interpret data regarding insurance rates and policies, LIC has been at it for more than 50 years, putting it at an advantage compared to other insurance companies in the country.

For individuals, LIC is among the top insurance companies in India because it offers a lot of training and rewards for sales agents.  With a lot of independence in working as well as mobility within the company, it is no wonder so many individuals both use and want to work for LIC.

 

2. The Tata AIG General Insurance

To a greater degree than LIC, Tata AIG General treats its employees like valued assets of the company.  There are many more provisions put in place for the health of their employees than most other Indian businesses.  Taking pride in what they can provide for those who work for the company, Tata AIG General Insurance has used their dynamic workforce to bring in new talent, and continues to expand across India.

Tata AIG General Insurance, as its name would imply, is a general insurance provider.  Along with having one of the finest workforces in the country, Tata AIG General Insurance has also expanded considerably in the past few decades, recently making its way to the number 5 position among top insurance companies.  Matching the expansion is an ever increasing range of benefits for their employees, including opportunities to expand within the company.

Fundamental to how Tata AIG General Insurance operates, employees can do performance evaluations, work to create a balance in their lives between work and life, go through HR initiatives, are trained continuously throughout their employment, and are put within a position where there are strong ties between managers and employees.

While all of this may not change the quality of the insurance provided, it does offer an interesting look into a company that values its employees.  Valuing their employees, Tata AIG General Insurance also shows a strong commitment to valuing their customers as well.  A rare commodity in the insurance industry, Tata AIG General Insurance manages to maintain higher than average ratings for performance.

 

3. The New India Assurance

While some of the leading insurance companies in India are highly specialized, others manage to branch out and pioneer new forms of insurance.  This is where New India Assurance comes in.  Along with providing typical forms of insurance, New India Assurance rose in popularity and recognition after providing insurance for things as seemingly esoteric as satellites.

New India Assurance also spread out, maintaining offices throughout India and the rest of the world.  With considerable more reach than the competition, New India Assurance remains one of the top names in Indian insurance companies.

How does New India Assurance treat its employees?  While it is hard to match Tata AIG General Insurance, New India Assurance does provide resources and opportunities in all 1000+ offices in India as well as in the rest of the world.  With a strong skill level among its employees, New India Assurance is constantly recruiting talent for their offices across the globe.

In the end, New India Assurance is worth investigating if for no other reason but that they are so accessible.

 

4. The ICICI Lombard General Insurance

Another top company for Insurance in India, ICICI Lombard General Insurance is among the largest privately held insurance companies in the country.  It provides an extensive range of insurance options for clients and groups.  This includes and is not limited to things like general insurance, the management of insurance claims, reinsurance, and investment management.

Being the first to receive the ISO 9001:2000 recognition, ICICI Lombard General Insurance has expanded greatly in the past decade, quickly making its way onto the list of top Indian insurance companies.  While not the biggest, it does have a AAA rating, which alone indicates that this insurance company is trustworthy and careful with how it manages money.

Beyond paying out claims and being generally well regarded, ICICI Lombard General Insurance was also a trail blazer in terms of having digital copies be signed online instead of in person.  Representing an expanding array of services that improve over time, ICICI remains a dynamic company worth considering and definitely worthy on this list of top 10 India insurance companies.

 

5. Birla Sun Life Insurance

Birla Sun Life insurance is a staple of the India life insurance industry.  Helping to add to the growth of the life insurance sector, Birla Sun Life insurance ha grown through its contributions, becoming one of the leading private life insurance companies.  Birla Sun Life Insurance provides life insurance to both individuals as well as groups and companies.

Helping to keep their business relevant verses the ever expanding competition, Birla Sun Life Insurance has managed to provide new and necessary financial services in India, like business continuity plans.  Another example of a service they provide is the Unit Linked Life Insurance plan.

With a strong emphasis placed on the value and importance of Indian business, Birla Sun Life Insurance has managed to approach the world of insurance from the angle of support, passion, and commitment.  This makes them both a top insurance company in India and a notice on our list of 10.

 

6. HDFC Standard Life Insurance

Known as HDFC Life for short, HDFC Standard Life Insurance deals in a wide range of insurance types.  Offering a broad array of services, it is among the leading names in private insurance providers because it provides both specially tailored individual insurance plans as well as institutional and group insurance plans as well.

With an admirable financial capability, HDFC Life Insurance has the ability to see their long-term investments through, providing plenty of backing if things go belly up.

While not as expansive as say the New India Assurance, HDFC Life manages to still maintain a large presence in the country.  This includes offices in more than 700 towns with 500+ branches.  Dealing with the requirements and needs of a diverse clientele, HDFC Standard Life Insurance stresses savings, health, investments, and protection of their clientele.

In addition, they provide decent services for their workforce, placing them solidly as one of the most important insurance companies in India.

 

7. The Bajaj Allianz General Insurance Company

Bajaj Allianz General Insurance Company is one of the leading names in property insurance in India.  A combination of Allianz, which is a leading insurance provider in the world, and Bajaj, which is one of the top manufacturers in India of motorcycles, the combined company is massive.

With 200 companies located across India, Bajaj Allianz provides insurance primarily for commercial, travel, homeowners, health, and auto.  This makes them a recognizable name across India with the majority of its yearly revenue coming from the auto insurance it provides.  A leading name in this sector, it deserves a place on our top 10 list of Indian insurance companies because of its history in India and scale of operations.

 

8. ICICI Prudential Life Insurance

ICICI Prudential Life Insurance has a reputation that is hard to beat.  With years of operation in the India, ICICI Prudential Life Insurance has more than 1900 branches.  Employing a staggering 210,000 people, ICICI Prudential Life Insurance has over a thousand micro offices as well.  From all of these venues, ICICI Prudential Life Insurance provides residents of India with another life insurance option.

Many things about ICICI Prudential Life Insurance stick out and warrant its inclusion on the top insurance companies in India.  One of the major reasons why it should be included is its availability.  Another reason is that is has received the AAA rating very early on, being one of the first companies in India to receive it.

Having been voted the most trusted private life insurance company for many years doesn’t hurt either!  With a good policy regarding their employees and a trusted reputation in India, ICICI Prudential Life Insurance is worth checking out.

 

9. IFFCO TOKIO General Insurance

Another multinational insurance company, IFFCO TOKIO General Insurance focuses on providing individuals, groups, and organizations with a wide range of insurance needs.  Helping their business is their wide expanse of 110 office located across the country.  Having its own distribution channel, IFFCO TOKIO General Insurance can provide a lot of services when catering to its retail clientele.

With 1400 employees, IFFCO TOKIO General Insurance maintains a strong presence in India.  Along with being a trusted source of insurance, the company has reached out to offer a wider range of insurance options, including big policies designed for fertilizer companies and automobiles.

With policies based on global rates, IFFCO TOKIO General insurance manages to keep one foot in the affairs of India while keeping the other in the realm of international affairs.

IFFCO TOKIO has a good network comprising 110 offices across the country and 51 Strategic Business Units. It is also the sole insurer in India that has a totally owned distribution channel named IFFCO-TOKIO Insurance Services Ltd for catering its retail clients.

 

10. Oriental Insurance

Last but not least, we close off this list of top insurance companies in India with Oriental insurance.  Overall, Oriental Insurance is a strong contender for the top ten list.

While it doesn’t do any one thing exceptionally well, it manages to maintain a reliance towards its clientele that is appreciated and valued.

Because of this commitment to those it serves, it typically comes out high on ranking for satisfaction as well as lead credit ratings in India.  With a B++ ranking, Oriental Insurance provides a total of 900 operating offices in India with more than 26 regional offices.

This means that they end up employing thousands of people in India itself.  Beyond India, Oriental Insurance also provides services in other parts of the world, including Kuwait, Nepal, and Dubai.  If you are looking for a range of services that extend beyond India and into these regions, then you are in luck.

 

Where Does That leave Us?

As discussed above, our top insurance companies in India are generated from those companies that manage to stand out from the rest.  Be aware though that for every company mentioned here, there is at least another that is a solid runners up choice.

With so many fantastic options, your specific interests will determine the business you ultimately decide on.  With a great number of choices, following lists like this as well as the recommendations of others will help you ultimately decide what Indian insurance company to go with.

Until then, best of luck with your search.