Top 10 Alternatives & Competitors to ICICI Prudential Life Insurance

Life insurance offers financial protection when someone dies. It is important to have life insurance to protect your loved ones. There are many life insurance providers for buying a life insurance policy. ICICI Prudential Life Insurance is one of the top 10 largest life insurance companies in India. It offers a wide range of life insurance plans for both individuals and businesses. But what if you want to compare ICICI Prudential Life Insurance online alternatives? This article will help you find the best online alternatives for ICICI Prudential Life Insurance so that you can make an informed decision about which company to choose...Read More

Top 10 Alternatives & Competitors to ICICI Prudential Life Insurance

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
Plans Term Plans, Health Plans, ULIP Plans, Traditional Savings/Money Back Plans, Retirement Plans, Group Plans, Rural Plans, Rider Plans
Benefits & Features Wide Range of Products, Affordable Plans, Excellent Claim Settlement, Multiple Payout Options, Excellent Customer Service, Long-Term Coverage, Tax Benefits

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How to Compare & Choose Life Insurance Alternatives

Life insurance is a product that can help provide financial security for the future. However, it can be hard to choose between the different life insurance alternatives. Comparing life insurance options has never been easier.

But the rise of online life insurance comparison tools that have made it possible for people to compare different products and find the best one for them and also they made it easier to find out what other people are saying about specific products, which has helped people make an informed decision on what they should choose.

This article compares the top 10 life insurance companies in India and provides an overview of the benefits each company offers. It also discusses how to compare different life insurance alternatives and some of the factors that may influence your decision.

Where to Get Best ICICI Prudential Life Insurance Alternatives in India

There are many ways to find the best ICICI Prudential Life Insurance Alternatives. Online comparison is the best way you can start by looking at the list of top 10 ICICI Prudential Life Insurance Alternatives in India. The best ICICI Prudential life insurance alternatives in India are those that offer the best coverage at the lowest cost.

The best ICICI Prudential life insurance alternatives in India are available at PolicyBachat.com. Here you can compare and buy the best life insurance plans from various companies and get the best deals on your purchase. PolicyBachat provides a comparison tool that helps you to compare life insurance policies on these factors and come up with an overall rating of each policy.

Top 10 ICICI Prudential Life Insurance Alternatives in India

Here is a list of the top 10 competitors or alternatives to ICICI Prudential Life Insurance.

#1 Bajaj Allianz Life Insurance

Bajaj Allianz life insurance company is one of India's leading private life insurance companies. It is a joint venture between Bajaj Finserv Limited owned by Bajaj Group of India and Allianz SE, a European Financial Services company. Bajaj Allianz life insurance company limited has launched innovative insurance solutions taking into consideration the time to the time change in customers’ needs and requirements. Bajaj Allianz Life Insurance Company offers a wide variety of life insurance products that serve different sections of society.

Foundation: 2001
Claim Settlement Ratio: 99.02%
Solvency Ratio: 6.66
Number of Branches:509

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Benefits & Features:

  • Return of Premium option
  • Pays off Liabilities
  • Flexibility in Premium Payment
  • Tax Benefits
  • Long-Term Coverage
  • Affordable premiums
  • Death Benefits

Plans Available:

  • Term Insurance Plans
  • Endowment Plans
  • Pension Plans
  • ULIP Plans
  • Group Plans
  • Child Plans
  • Investment Plans
  • Health Care Plans

#2 HDFC Life Insurance

HDFC Life Insurance Company Limited is a standard life insurance company supporter of housing development Finance Corporation limited. It is a joint venture between HDFC Ltd and standard life Aberdeen, a global investment company. HDFC life insurance provides innovative and customer-centric insurance plans that can help our customers secure their family's future as well as help them with other benefits such as tax savings. It offers a wide range of individual and group insurance solutions that meet various customer needs such as Protection, Pension, Savings, Investment, and Health Solutions.

Foundation: 2000
Claim Settlement Ratio: 98.66%
Solvency Ratio: 2.01
Number of Branches:390

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Benefits & Features:

  • Long-Term Coverage
  • Variety of Products
  • Hassle Free Claim Settlement
  • Award-Winning Services
  • Excellent Customer Support
  • Affordable products
  • Death Benefits
  • Tax Benefits

Plans Available:

  • Term Plans
  • ULIP Plans
  • Savings Plans
  • Child Plans
  • Health Plans
  • Pension Plans
  • POS Plans
  • Combo Plans

#3 Pramerica Life Insurance

Pramerica Life Insurance Limited erstwhile DHFL Pramerica Life Insurance Company Limited is headquartered in Gurugram. Pramerica Life Insurance is a joint venture between DHFL Investments Limited, a wholly-owned subsidiary of Dewan Housing Finance Corporation Ltd. (DHFL) Prudential International Insurance Holdings. The company provides a wide range of life insurance solutions for individuals as well as groups. Pramerica life insurance company’s target is to provide affordable, efficient, and effective life insurance life cover. It offers various financial protection needs such as securing their child’s future, retirement planning, tax saving, and wealth creation.

Foundation: 2013
Claim Settlement Ratio: 98.61%
Solvency Ratio: 4.42
Number of Branches:133

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Benefits & Features:

  • Long-Term Coverage
  • Affordable Premiums
  • Excellent Customer Services
  • Wide Range of Products
  • Financial Assistance
  • Tax Benefits
  • Return of Premiums
  • Easy Claim Settlement

Plans Available:

  • Protection Plans
  • ULIP Plans
  • Savings Plans
  • Child Progress Plans
  • Health Plans
  • Retirement Plans
  • Group Plans

#4 Exide Life Insurance

Exide Life Insurance is one of the Top 10 Most trusted companies in India. It was formerly known as ING Vysya Life Insurance Company. It is a non-government and commercial life insurance company headquartered in Bengaluru. The Exide Insurance Company is owned by Exide Industries Limited and serves over 15 lakh customers. The Company is focused on providing long-term protection and savings solution plans and has a strong traditional product portfolio with a consistent bonus track record in the insurance sector. The company steps beyond life insurance and provides need-based life insurance solutions.

Foundation: 2000
Claim Settlement Ratio: 98.54%
Solvency Ratio: 2.24
Number of Branches:200+

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Benefits & Features:

  • Wide Range of Products
  • Affordable Premiums
  • Customized Premium Payment Options
  • Incredible Claim Settlement Ratio
  • Customer-Friendly Procedures
  • Excellent customer service
  • Tax Benefits

Plans Available:

  • Term Plans
  • Child Plans
  • Retirement Plans
  • Savings Plans
  • Investment Plans
  • Health Plans
  • Rider Plans

#5 Kotak Mahindra Life Insurance

Kotak Mahindra Life insurance company limited is one of the best and fastest-growing insurance companies in India. It is a joint venture between Kotak Mahindra Bank Limited and Old Mutual Limited, a pan African investment, savings insurance, and banking group operating. It provides an extensive range of financial products to meet both corporate and individual investment needs. Kotak life insurance secures your future and makes sure that all your investments keep giving you profitable returns. Kotak Life Insurance Company provides a wide range of affordable Life Insurance Policies.

Foundation: 2001
Claim Settlement Ratio: 98.50%
Solvency Ratio: 2.90
Number of Branches:232

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Benefits & Features:

  • Wide Range of Products
  • High Coverage At Low Premiums
  • Easy Policy issuance
  • Award Winning Services
  • Long-Term  Coverage
  • Tax Benefits

Plans Available:

  • Term Plans
  • Child Plans
  • Savings and Investment Plans
  • Protection Plans
  • Retirement Plans
  • ULIP Plans
  • Health Plans

#6 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

#7 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

#8 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

#9 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, 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

#10 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

Conclusion:

Life insurance is a necessity for many people. There are many different life insurance options available, and it can be difficult to decide which one is best for you. To get final thoughts on choosing a life insurer, PolicyBachat created an easy-to-use comparison tool. You can enter your personal information and our tool will automatically suggest options that match your needs. We have compiled a list of the best ICICI Prudential Life Insurance Alternatives for you to compare and this list helps you find the one that is right for you!

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