Life Insurance Companies in India

In the past, the insurance sector of India possessed two state insurers. The first was the Life Insurers commonly known as the Life Insurance Corporation of India (LIC). The second one was the General Insurers and commonly called the General Insurance Corporation of India (GIC).

Lets’ discuss in brief about four major Life Insurance Companies in India namely the HDFC Standard life Insurance Co. Ltd, SBI Life Insurance Co. Ltd, the Life Insurance Corporation of India and the Bharti AXA Life Insurance.

HDFC Standard Life Insurance is one of the privately held leading joint venture life insurance companies in India of Housing Development Finance Corporation Limited (HDFC Limited) and the Standard Life Plc, a Group Company of UK. They offer both individual as well as group solutions to meet specific needs of a personal life. The products that are offer by HDFC standard Life Insurance are Protection Plans, Children's Plans, Retirement Plans, Savings and Investment Plans, Health Plans and Group Plans

The products of SBI Life Insurance are designed to serve all sections of society to provide financial support to specific requirements of an individual. These are tax saving money back products, protection cum savings products, pension products, Unit linked products like Group health plan, Unit Plus Child as well as SBI Life Horizon.

Life Insurance Corporation of India or LIC is the government owned biggest life insurance companies in India established in 1956. The various products offered by LIC India helps in saving for future with attractive savings plans of their insurance policies.

Life Insurance Corporation of India has its headquarters in Mumbai, and has 8 zonal offices as well as 101 divisional offices with more than 2048 branches all situated in varies cities and towns in India. The total employee strength is 112,and is noted to have over a million agents who actively work to make people from all over India adopt various policies and products if LIC India. LIC is also noted to fulfill the life insurance needs of its Non Resident Indians or NRIs.

Bharti AXA Life Insurance is a joint venture company between Bharti, the leading business groups dealing with telecom and agri business in India and AXA, the so called global leader dealing with financial protection as well as wealth management. The insurance plans with other financial solutions offered by Bharti AXA Life Insurance cater to all insurance as well as wealth management needs of an individual.

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