The life insurance industry in India is a major one and it has been growing at a rapid pace. There are many life insurance companies in India, but not all of them are worth your time. So you must be careful when choosing the best one for you. Shriram is one of the best life insurance companies in India. Shriram offers a range of different types of life insurance products.
If you consider Shriram Life Insurance, you may also need to look into alternatives or competitors to find the right one that fits your needs. This article will help you in understanding alternatives or competitors of Shriram Life Insurance Company and how to choose the best one for your needs and Budget. Before moving into the top alternatives of Shriram life insurance lets us know about Shriram life insurance.
Shriram Life Insurance
Shriram Life Insurance Company is a joint venture between Shriram Group and Sanlam. Shriram Life Insurance Company aims to provide the best life insurance products to cater to different segments of the Indian market. Shriram Life Insurance Company Limited is an insurance and financial service provider that serves less fortunate people and economically weaker families in society. Their main motive is to reach common people and the products/plans are helpful to them work efficiently. Shriram group institutions is a chit fund company before initiated into business and now it is one of the leading commercial vehicle finance and Micro, Small, and Medium Enterprise finances.
| Foundation |
2005 |
| Claim Settlement Ratio |
98.49% |
| Solvency Ratio |
1.80 |
| Number of Branches |
423 |
| Plans |
Individual Plans, Savings Plans, Investment Plans, Protection Plans, Retirement Plans, Micro Insurance Plans, Rider Plans, Group Plans, Protection Plans, Employee Benefit Plans, Micro Insurance Plans, Special Plans, Featured Plans, Online Plans
|
| Benefits & Features |
Tax Benefits, Flexible Payment Modes, Availability of Riders, Broad Catalogue, Customer-Oriented Services, Maturity, and Death Claims |
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Reasons to Compare Shriram Life Insurance Alternatives
When it comes to choosing an insurance provider, the best way to find the right insurer for you is by considering your needs and what kind of coverage you're looking for in a policy. The insurance market is always evolving and adapting. This is because people are always looking for better deals, more coverage, and more benefits.
The Shriram Life Insurance Company offers a wide range of products for consumers, but it's important to know that there are other options out there for you to consider. A comparison of the Shriram Life Insurance alternative will help you make a decision. There are many reasons why someone may want to compare Shriram alternatives. Some of the reasons to compare Shriram Life Insurance Alternatives are
- You can find a policy that fits within your budget
- You can save money by comparing different companies
- The more you know, the better your decision will be
- You can compare life insurance alternatives online today
- You can find the right life insurance policy for your needs
- You can compare the costs, benefits, and features of many different policies
- You can take advantage of tax benefits with some types of life insurance plans
- Online comparison tools make it easy to compare life insurance policies and pick the best one for you
Top Shriram Life Insurance Alternatives in India
Here is a list of the top 10 competitors or alternatives to Shriram Life Insurance.
- Reliance Nippon Life Insurance
- PNB MetLife Insurance
- Aditya Birla Sun Life Insurance
- Tata AIA Life Insurance
- Aviva Life Insurance
- ICICI Prudential Life Insurance
- Canara HSBC OBC Life Insurance
- Edelweiss Tokio Life Insurance
- IndiaFirst Life Insurance
- Star Union Dai-Ichi Life Insurance
#1 Reliance Nippon Life Insurance
Reliance Nippon Life Insurance Company Limited is one of India's leading private sector life insurance companies. Reliance Nippon Life Insurance Company is an important part of Reliance Capital and it is a private-sector financial services and Non-banking Company. Reliance Capital has diversified businesses in insurance of all kinds, asset management, mutual funds, commercial finance, and other financial services. Reliance Life has a huge variety of life insurance plans that offers tailor-made plans as per the customers’ requirements.
Foundation: 2001
Claim Settlement Ratio: 98.49%
Solvency Ratio: 2.45
Number of Branches:713
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Benefits & Features:
- Affordable Premiums
- Multiple Premium Payment Frequencies
- Excellent Customer Services
- Multiple Add-On Covers
- Wide Range of Products
- Tax Benefits
- Customized Protection
Plans Available:
- Term Plans
- Savings Plans
- Retirement Plans
- ULIP Plans
- Health Plans
- Group Plans
#2 PNB MetLife Insurance
PNB MetLife India Insurance Company Limited is one of the major life insurers in India. PNB MetLife is a collaboration between MetLife International Holdings Inc., Punjab National Bank Limited, Jammu and Kashmir Bank Limited, M.Pallonji and Company Private Limited, and other private investors. This company offers a wide range of products for protection and retirement. It is a one-step solution toward a safe future for you and your loved ones.
Foundation: 2001
Claim Settlement Ratio: 98.17%
Solvency Ratio: 1.90
Number of Branches:117
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Benefits & Features:
- Affordable Premiums
- Maximum Sum Assured
- Excellent Customer Services
- Multiple Add-On Covers
- Wide Range of Products
- Return of Premiums
- Flexible Tenure
- Tax Benefits
Plans Available:
- Family Protection Plans
- Online Plans
- Long-Term Plans
- Child Education Plans
- Retirement Plans
- Health Insurance Plan
- Group Plans
#3 Aditya Birla Sun Life Insurance
Aditya Birla Sun Life Insurance Company is a joint venture between Aditya Birla Group and Sun Life Financial Inc. The company offers a wide range of life insurance products to suit the needs of different customers. It is one of India's largest and most trusted life insurance providers in India. Aditya Birla Sun Life Insurance Company was well known for its product innovations as per customers’ needs and commitment to customer services.
Foundation: 2001
Claim Settlement Ratio: 98.04%
Solvency Ratio: 1.80
Number of Branches:340
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Benefits & Features:
- Excellent Customer Service
- Easy And Hassle-Free Claim Settlement
- Flexibility in Premium Payment
- Tax Benefits
- Long-Term Coverage
- Affordable Premiums
- Easy Policy Issuance
Plans Available:
- Term Plans
- Retirement Plans
- Health Plans
- Child Plans
- ULIP Plans
- Savings Plans
#4 Tata AIA Life Insurance
Tata AIA Life Insurance Company is one of the fastest-growing leading insurers in the Indian private sector. Tata AIA Life Insurance Company Limited is a joint venture between Tata Sons and AIA Group Ltd. Tata Sons holds a stake of 74% in the company and AIA holds 26%. It is accomplished by offering customized life, health, and group insurance solutions to individuals and families, and a group of people.
Foundation: 2000
Claim Settlement Ratio: 98.02%
Solvency Ratio: 2.04
Number of Branches:216
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Benefits & Features:
- Wide Range of Products
- Trusted Brand
- Excellent Claim Settlement Ratio
- Affordable Insurance Plans
- Excellent Customer Services
- Flexible Payment Options
Plans Available:
- Term Plans
- ULIP Plans
- Retirement Plans
- Savings Plans
- Group Plans
- Combo Plans
#5 Aviva Life Insurance
Aviva Life Insurance Company Limited India is a joint venture between Dabur Invest Corporation and Aviva PLC UK-based Insurance Group. It is one of India’s oldest and most respected insurance companies to fulfill policyholder certain needs. The main purpose of Aviva Life Insurance Company is to give simple and useful policies that achieve customer life goals. Aviva life insurance company’s gained experience in this field over centuries in offering comprehensive insurance solutions.
Foundation: 2002
Claim Settlement Ratio: 98.01%
Solvency Ratio: 2.24
Number of Branches:790
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Benefits & Features:
- Tax Benefits
- Wealth Creation
- Life-Long Coverage
- Investment Option
- Good Customer Support
- Easy Claim Settlement
- Death Benefits
Plans Available:
- Term Insurance Plans
- Retirement Plans
- Child Plans
- Savings Plans
- Group Plans
#6 ICICI Prudential Life Insurance
ICICI Prudential life insurance company is a leading international financial services group headquartered in the UK. ICICI Prudential Life Insurance Company has consistently been the top company in the Indian Life Insurance Sector. It is a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited. The company aims to provide cost-effective products, good supervision of assets and funds under its management, and a hassle-free claim settlement experience for its valued customers.
Foundation: 2001
Claim Settlement Ratio: 97.90%
Solvency Ratio: 2.17
Number of Branches:514
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Benefits & Features:
- Wide Range of Products
- Affordable Plans
- Excellent Claim Settlement
- Multiple Payout Options
- Excellent Customer Service
- Long-Term Coverage
- Tax Benefits
Plans Available:
- Term Plans
- Health Plans
- ULIP Plans
- Traditional Savings/Money Back Plans
- Retirement Plans
- Group Plans
- Rural Plans
- Rider Plans
#7 Canara HSBC OBC Life Insurance
The Canara HSBC OBC life insurance company is a joint venture between Canara Bank, HSBC Asia Pacific Holdings Limited, and Punjab National Bank. The company brings the trust and market knowledge together of two big public sector banks in India namely Canara Bank and Punjab National Bank combined with the global insurance expertise of HSBC. Canara HSBC OBC Life Insurance is the first to launch 'Immediate Pay-outs on Death Claim' under unit-linked policies so that the family of the life insured will receive the fund value immediately on registration of the death claim.
Foundation: 2008
Claim Settlement Ratio: 97.10%
Solvency Ratio: 3.27
Number of Branches:2251
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Benefits & Features:
- Financial Protection
- Easy Policy Issuance
- Tax Benefits
- Excellent Customer Service
- Hassle-free claim settlement
- Flexibility in Payment Options
Plans Available:
- Term Plans
- ULIP Insurance Plans
- Child Plans
- Retirement Plans
- Savings Plans
- Health Plans
- Group Plans
#8 Edelweiss Tokio Life Insurance
Edelweiss Tokio Life Insurance Company is a joint venture between Edelweiss Financial Services and Tokio Marine Holdings Inc. Edelweiss Tokio Life Insurance Company offers comprehensive protection life insurance plans to help you to coverage for your life. The company helps you to create a secure and bright future for yourself and your loved ones. Edelweiss Tokio Life Insurance provides amazing services. Also, it has many attractive plans for different types of customers to choose from as per their requirements.
Foundation: 2011
Claim Settlement Ratio: 97.01%
Solvency Ratio: 2.15
Number of Branches:116
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Benefits & Features:
- Customizable Plans
- Simple Claims Process
- Complete Transparency
- Investment Option
- Tax Benefits
- Long-Term Coverage
- Affordable Premiums
Plans Available:
- Term Plans
- Investment Plans
- Health Plans
- Retirement Plans
- Group Plans
- Micro Plans
#9 IndiaFirst Life Insurance
IndiaFirst Life Insurance Company Limited is one of the youngest life insurance companies in India. It is a joint venture between Union Bank of India, Bank of Baroda, and Carmel Point India Investments India Private Limited. It’s Headquartered in Mumbai, IndiaFirst Life Insurance Company Limited is the fastest growing life insurance company in India. IndiaFirst Life Insurance Company provides a wide range of life insurance products. Their extensive knowledge makes their customers meet their requirements and are also satisfied by their services.
Foundation: 2009
Claim Settlement Ratio: 96.81%
Solvency Ratio: 1.81
Number of Branches:4800
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Benefits & Features:
- High Coverage At Low Premiums
- Multiple Payout Options
- Excellent Customer Services
- Availability of Excellent Riders
- Return Of Premium
- Tax Benefits
Plans Available:
- Term Plans
- Child Plans
- ULIP Plans
- Savings Plans
- Investment Plans
- Retirement Plans
#10 Star Union Dai-Ichi Life Insurance
Star Union Dai-ichi Life Insurance Co Ltd is a joint venture of India’s two leading public sector banks Bank of India, the Union Bank of India, and Dai-ichi Life, the second-largest life insurance company in Japan. The combination of three leading financial service providers makes the SUD life insurance plans outstanding insurance solutions and customized to suit the protection needs of common people. Star Union Dai-ichi life insurance provides a range of life insurance products to cater to different requirements of customers.
Foundation: 2009
Claim Settlement Ratio: 95.96%
Solvency Ratio: 2.06
Number of Branches:1950
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Benefits & Features:
- Range of Products
- Affordable Premiums
- Excellent Claim Settlement Ratio
- Customer-Friendly Services
- Complete Transparency
- Flexible Payment Options
Plans Available:
- Protection Plans
- Retirement Plans
- Child Plans
- Wealth Plans
- Rider Plans
- Group Plans
- Investment & Savings Plans
Conclusion
The best life insurance is the one that you can afford and that meets your needs. It is important to consider a few things when you're looking for the best Shriram Life Insurance alternatives. For example, what are your needs? What is your budget? What are the features that you want in an insurance plan? You will want to consider whether the plan offers a death benefit, disability coverage, and critical illness protection. You may also want to look into whether there is an option for automatic savings or life insurance.
The best Shriram Life Insurance alternatives can provide you with peace of mind and a sense of security. There are many alternatives to Shriram life insurance but the best alternatives. Compare top insurers with PolicyBachat which offers a wide range of coverage options so that you can find the perfect plan that best suits your needs. So, compare life insurance quotes and grab the best life insurance policy.