Tata AIA

Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture company, formed by Tata Sons Ltd. and AIA Group Ltd. Tata AIA Life combines Tata’s pre-eminent leadership position in India and AIA’s presence as the largest, independent listed pan-Asian life insurance group in the world spanning 18 markets in the Asia Pacific region. Tata AIA Life has written retail new business weighted premium of INR. 572 crores for the nine months ending December 2016, that represents a growth rate of 85% over the previous year. As of 31st December 2016, the 13th-month persistency of the company stands at 81.3%. At the end of FY 16, the retail claims settlement ratio of the company was 96.8%.

Main features

• Claim settlement ratio:89.68%, Horrible.This is the ratio of total settled/claimed. Higher is better as it shows the intention of management in paying
• Claim settlement time:30 days
• Maturity Age:75 Years
• Premium per month(starting):661 Rs
• Customer Service 2 star
• Staff Attitude:2 Star

Way2enjoy socre : NAN

Main Disadvantages :

• Claim settlement time is not good. Tata AIA is slow in processing and settling the claim.Must be read along with claim settlement ratio

PNB MetLife

PNB MetLife has been present in India since 2001. It brings together the financial strength of a leading global life insurance provider, MetLife, Inc., and the credibility and reliability of PNB, one of India's oldest and leading nationalised banks. The vast distribution reach of PNB together with the global insurance expertise and product range of MetLife makes PNB MetLife a strong and trusted insurance provider. PNB MetLife is present in over 127 locations across the country and serves customers in more than 7,000 locations through its bank partnerships with PNB, JKB and Karnataka Bank Limited. PNB MetLife provides a wide range of protection and retirement products through its Agency sales of over 10,000 financial advisors and multiple bank partners, and provides access to Employee Benefit plans for over 1,200 corporate clients in India.

Main features

• Claim settlement ratio:92.90%, Awesome.This is the ratio of total settled/claimed by users. Higher is better as it shows the intention of management in paying
• Claim settlement time:15 days . Claim settlement time is awesome.You should not hesitate with PNB MetLife as they have 15 days claim settlement time
• Maturity Age:75 Years
• Premium per month(starting):704 Rs
• Customer Service 2 star
• Staff Attitude:2 Star

Way2enjoy socre : NAN

Main Disadvantages :

Canara

Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited was launched in June 2008 and is a JV between two of India's largest public sector banks – Canara Bank (holding 51%) and Oriental Bank of Commerce (holding 23%) – and HSBC Insurance Holdings Limited (holding 26%). The Company's business strategy testifies thorough understanding of the market especially with veterans looking for bank partner or scaling up their life insurances through banking institutions. The Company has access to around 60 million customers with a good reflection of customers attitude.

Main features

• Claim settlement ratio:92.99%, Awesome.This is the ratio of total settled/claimed by users. Higher is better as it shows the intention of management in paying
• Claim settlement time:57 days
• Maturity Age:75 Years
• Premium per month(starting):651 Rs
• Customer Service 1 star
• Staff Attitude:1 Star

Way2enjoy socre : NAN

Main Disadvantages :

• Claim settlement time is not good. Canara is slow in processing and settling the claim.Must be read along with claim settlement ratio

HDFC

HDFC Life is a leading life insurance provider in India, offering a variety of insurance solutions that meet various customer needs. HDFC Life gains benefit from having a wide reach with 398 HDFC Life offices in India and 9,000 distributor touch-points. The Company has a strong base to provides financial advice or guidance to customers for compensation. HDFC Standard Life Insurance Company Limited is a subsidiary of HDFC Ltd., India’s leading housing finance institution, and Standard Life. Currently, HDFC Ltd. holds 61.63% and the ideal premium would be between Rs. 5000 to Rs. 25000and an ideal policy term would be 10 to 20 years.

Main features

• Claim settlement ratio:95.02%, Awesome.This is the ratio of total settled/claimed by users. Higher is better as it shows the intention of management in paying
• Claim settlement time:25 days . Claim settlement time is awesome.You should not hesitate with HDFC as they have 25 days claim settlement time
• Maturity Age:75 Years
• Premium per month(starting):872 Rs
• Customer Service 1 star
• Staff Attitude:2 Star

Way2enjoy socre : NAN

Main Disadvantages :

AEGON

From July 2008 Aegon Life Insurance Company Limited started their business as well as following a multi-channel distribution strategy with a powerful vision that helps people to plan their life better. The fulfillment of this vision is based upon having a complete product suite, providing customized advice and enhancing the overall customer experience with a good customer satisfaction.

Main features

• Claim settlement ratio:95.30%, Awesome.This is the ratio of total settled/claimed by users. Higher is better as it shows the intention of management in paying
• Claim settlement time:38 days
• Maturity Age:80 Years
• Premium per month(starting):586 Rs
• Customer Service 3 star
• Staff Attitude:3 Star

Way2enjoy socre : NAN

Main Disadvantages :

• Claim settlement time is not good. AEGON is slow in processing and settling the claim.Must be read along with claim settlement ratio

SBI

SBI Life Insurance company is a JV

Main features

• Claim settlement ratio:95.70%, Awesome.This is the ratio of total settled/claimed by users. Higher is better as it shows the intention of management in paying
• Claim settlement time:22 days . Claim settlement time is awesome.You should not hesitate with SBI as they have 22 days claim settlement time
• Maturity Age:70 Years
• Premium per month(starting):855 Rs
• Customer Service 2 star
• Staff Attitude:2 Star

Way2enjoy socre : NAN

Main Disadvantages :

ICICI Prudential

From the year 2001 ICICI Prudential Life began its operations and has consistently been the market leader amongst private players in the Indian life insurance sector. As of 2015, it reported assets of over Rs. 100,000 Cr. and as on 31st December, 2016 were 1136.11 billion.

Main features

• Claim settlement ratio:96.20%, Awesome.This is the ratio of total settled/claimed by users. Higher is better as it shows the intention of management in paying
• Claim settlement time:20 days . Claim settlement time is awesome.You should not hesitate with ICICI Prudential as they have 20 days claim settlement time
• Maturity Age:75 Years
• Premium per month(starting):864 Rs
• Customer Service 2 star
• Staff Attitude:2 Star

Way2enjoy socre : NAN

Main Disadvantages :

Max

Max Life Insurance Company started its operations during 2001 and is presently one of the leading names in the Indian insurance industry. At present, it is the biggest life insurer among the privately held non-banking companies of India with a good customer support. The owner of the company was Mitsui Sumitomo Insurance Co. Ltd and Max India Ltd.

Main features

• Claim settlement ratio:96.23%, Awesome.This is the ratio of total settled/claimed by users. Higher is better as it shows the intention of management in paying
• Claim settlement time:26 days . Claim settlement time is awesome.You should not hesitate with Max as they have 26 days claim settlement time
• Maturity Age:75 Years
• Premium per month(starting):710 Rs
• Customer Service 2 star
• Staff Attitude:2 Star

Way2enjoy socre : NAN

Main Disadvantages :

Bajaj

Bajaj Allianz Life Insurance Company Limited is one of India's leading life insurance company. The company is a joint venture between Bajaj Finserv Limited owned by the Bajaj Group of India and Allianz SE, a European financial services company. The JV incorporation is beneficial for consumers as it provides global expertise along with local expertise. Both the companies enjoy a reputation of expertise, stability, and strength.

Main features

• Claim settlement ratio:98.10%, Awesome.This is the ratio of total settled/claimed by users. Higher is better as it shows the intention of management in paying
• Claim settlement time:28 days
• Maturity Age:75 Years
• Premium per month(starting):928 Rs
• Customer Service 1 star
• Staff Attitude:1 Star

Way2enjoy socre : NAN

Main Disadvantages :

• Claim settlement time is not good. Bajaj is slow in processing and settling the claim.Must be read along with claim settlement ratio

LIC

LIC is the largest life insurance company in India with a huge presence in both urban and rural markets with an estimated asset value of 1,560,482 crore. The insurance products of LIC are often the most simple and consumer friendly and it is displayed by the enormous response it gets to the launch of any new product.

Main features

• Claim settlement ratio:98.14%, Awesome.This is the ratio of total settled/claimed by users. Higher is better as it shows the intention of management in paying
• Claim settlement time:26 days . Claim settlement time is awesome.You should not hesitate with LIC as they have 26 days claim settlement time
• Maturity Age:75 Years
• Premium per month(starting):1169 Rs
• Customer Service 4 star
• Staff Attitude:4 Star

Way2enjoy socre : NAN

Main Disadvantages :