Life insurance is necessary for individuals to choose a good life insurance from a company which has a good reputation in market. There are almost 23 Life Insurance Companies registered under the IRDAI, It is important to choose a reliable and credible insurance company based on there Claim Settlement Ratio, Amount Settlement Ratio, Complaint Volume, Average Annual Business, and the range of life/term insurance policies offered.
Here is the list of top 10 best life insurance companies in India that you can consider for buying life insurance.
Top 10 Life Insurance Companies in India 2025
1. Life Insurance Corporation of India (LIC).
Life Insurance Corporation of India (LIC) : Life Insurance Corporation of India (LIC) is Established in 1956, aims to deliver complete financial security to the people of India. As the largest life insurance company in India, LIC has 2048 branch offices, 113 divisional offices, 8 zonal offices, and 1381 satellite offices.
- Claim Settlement Ratio: 98.71%
- Complaint Volume: 10.5
- Amount Settlement Ratio: 95.1%
- Avg. Annual Business: Rs. 205,137 crores
2. Max Life Insurance Co. Ltd.
Max Life Insurance Co. Ltd. : Max Life Insurance Company Limited is a joint venture between Max Financial Services Limited and Axis Bank Limited. It offers a wide range of insurance products including life insurance, ULIPs, child plans, investment plans, etc. It started as a general insurance provider in the year 2000. It has a strong customer base of over 20 million.- Claim Settlement Ratio: 99.40%
- Complaint Volume: 7.0
- Amount Settlement Ratio: 95.5%
- Avg. Annual Business: Rs. 7,897 crores
3. Aditya Birla Sun Life Insurance Co. Ltd.
Aditya Birla Sun Life Insurance Co. Ltd : Aditya Birla Sun Life Insurance is a joint venture between Aditya Birla. Capital Ltd (India) and Sun Life Group of Insurance, Aditya Birla Sun Life Insurance (ABSLI) offers a wide range of insurance products designed to cater to the diverse needs of individuals and families.- Claim Settlement Ratio: 98.08%
- Complaint Volume: 7.1
- Amount Settlement Ratio: 93.9%
- Avg. Annual Business: Rs. 5,967 crores
4. Tata AIA Life Insurance Co. Ltd.
Tata AIA Life Insurance Co. Ltd : Tata AIA Life Insurance is a joint venture between Tata Sons Pvt Ltd (India) and AIA Group of Insurance, it's American insurance provider company that started as a general insurance provider since 2001.- Claim Settlement Ratio: 98.53%
- Complaint Volume: 2.3
- Amount Settlement Ratio: 92.7%
- Avg. Annual Business: Rs. 6,014 crores
5. ICICI Prudential Life Insurance Co. Ltd.
ICICI Prudential Life Insurance Co. Ltd : ICICI Prudential Life Insurance is a joint venture between ICICI Bank Limited (India) and Prudential Group of Insurance, it's an American multinational insurance company. It started as a general insurance provider since 2001 in India.- Claim Settlement Ratio: 97.09%
- Complaint Volume: 14.3
- Amount Settlement Ratio: 92.1%
- Avg. Annual Business: Rs. 15,380 crores
6: Bajaj Allianz Life Insurance Co. Ltd.
Bajaj Allianz Life Insurance Co. Ltd : Bajaj Allianz Life Insurance is a joint venture between Bajaj Financial Limited(India) and the Allianz Group of Insurance based in Germany, it started operating as a general insurance provider in Year 2001.- Claim Settlement Ratio: 98.85%
- Complaint Volume: 5.0
- Amount Settlement Ratio: 93.0%
- Avg. Annual Business: Rs. 8,729 crores
7: SBI Life Insurance Co. Ltd.
SBI Life Insurance Co. Ltd : SBI Life Insurance, a subsidiary brand of SBI Bank, started operations as a general insurance provider in 2000, with over 1000+ offices and over 20 thousands of employees.
- Claim Settlement Ratio: 95.80%
- Complaint Volume: 3.8
- Amount Settlement Ratio: 90.2%
- Avg. Annual Business: Rs. 25,223 crores
8. Kotak Mahindra Life Insurance Co. Ltd.
Kotak Mahindra Life Insurance Co. Ltd : Kotak Mahindra Life Insurance Company is a subsidiary of Kotak Mahindra Bank Limited. It started its business as a general insurance provider in 2001.- Claim Settlement Ratio: 98.61%
- Complaint Volume: 5.8
- Amount Settlement Ratio: 93.1%
- Avg. Annual Business: Rs. 6,356 crores
9. HDFC Life Insurance Co. Ltd.
HDFC Life Insurance Co. Ltd : HDFC Life Insurance is a joint venture of HDFC Limited, it's india’s leading housing loan company, and Aberdeen PLC. This global investment company started its business as a general insurance provider in the year 2000.- Claim Settlement Ratio: 98.69%
- Complaint Volume: 2.7
- Amount Settlement Ratio: 87.3%
- Avg. Annual Business: Rs. 24,315 crores
10. PNB MetLife India Insurance Co. Ltd.
PNB MetLife India Insurance Co. Ltd : PNB MetLife Life Insurance is a joint venture between (PNB) Punjab National Bank and MetLife International Holdings Inc(MIHI); it's an American-based insurance company that started as a general insurance provider in 2001.
- Claim Settlement Ratio: 98.20%
- Complaint Volume: 57.0
- Amount Settlement Ratio: 91.5%
- Avg. Annual Business: Rs. 8,508 crores
How To Choose The Ideal Life Insurance Company in India?
Claim Settlement Ratio (CSR):
- CSR helps understand the company’s claims settlement for the previous financial year.
- Compare CSR values before choosing the right life plan.
Dedicated Customer Support:
- Ensure the company has 24x7 customer and claims support to resolve any issues during the policy term.
Feedback and Customer Reviews:
- Check customer reviews to get a better idea of the company’s services.
Available Riders:
Life insurance companies offer term riders to enhance coverage with minimal premium.
Common riders:
Common riders:
- Critical Illness rider
- Accidental Death benefit rider
- Accidental Total and Permanent Disability rider
- Waiver of premium riders
Moral : In this blog, we help you find the best life insurance company in India for 2025, Choosing the right life insurance company in India is a crucial decision that requires careful consideration of several factors. (Insurance Regulatory and Development Authority of India) Under IRDAI, almost 23 Life Insurance Companies registered. We have provided you with a list of the top ten life insurance companies in 2025. Choosing the right life insurance company is as important as security your loved ones are secured in your absence.
