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Top 10 Alternatives & Competitors to Pramerica Life Insurance

Pramerica Life Insurance is a life insurance company that provides insurance, investment, and retirement products and services to individuals and businesses in India. For buying life insurance, you consider Pramerica Life Insurance Company you may also need to look into alternatives or competitors to find the right one that fits your needs. Finding the best Pramerica Life Insurance online alternatives can be a tedious task. Fortunately, there are many ways to find them.

Top 10 Alternatives & Competitors to Pramerica Life Insurance

One of the best ways to find the top 10 Pramerica Life Insurance online alternatives is by using a comparison website like PolicyBachat. They usually have many different providers listed on their site and they allow users to compare the products of each company with one another to find the best deal for their needs.

In this article, we will be listing 10 Pramerica life insurance alternative companies that have a good reputation and are worth looking into. This is an overview of 10 life insurance alternatives with features, pros, and cons for each one.

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
Plans Protection Plans, ULIP Plans, Savings Plans, Child Progress Plans, Health Plans, Retirement Plans, Group Plans
Benefits & Features Long-Term Coverage, Affordable Premiums, Excellent Customer Services, Wide Range of Products, Financial Assistance, Tax Benefits, Return of Premiums, Easy Claim Settlement

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What are the Benefits of Comparing Life Insurance Alternatives?

Comparing life insurance alternatives can be a daunting task for many people. It is not only the hardest decision we make in our lifetime, but it is also one of the most important. There are several benefits to comparing life insurance alternatives before deciding on which policy to purchase.

  • You can save money by comparing
  • The more you know, the better your decision will be
  • 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
  • You will be able to find the best coverage for your needs and budget.
  • You will know what you are getting into and how much it will cost before signing up for any policy.
  • You will have an idea of what your final payout would be if you were to die tomorrow.

Top 10 Pramerica Life Insurance Alternatives Online in India

There are many other alternatives to Pramerica Life Insurance in India. Here is a list of the top 10 competitors or alternatives to Pramerica Life Insurance online.

#1 Max Life Insurance

Max Life insurance is a leading life insurance company in India. Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited. Max Financial Services Ltd. is a part of the Max Group, an Indian multi-business corporation. Max Life Insurance offers different life insurance products such as term insurance, return of premium insurance, Annuity insurance, child plans, investment plans, money-back plans, ULIPs, and other life insurance products to individuals and groups. Max Life has positioned itself on the quality platform and has maintained a strong presence in the Indian market.

Key Highlights:-

Foundation: 2000
Claim Settlement Ratio: 99.35%
Solvency Ratio: 2.02
Number of Branches: 277

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Benefits & Features:

  • Affordable Premiums
  • Easy Policy issuance
  • Financial Security
  • Product Variety
  • Tax Benefits
  • Online Availability
  • Riders as Additional Benefits

Plans Available:

  • Term Plans
  • ULIP Plans
  • Child Plans
  • Online Plans
  • Retirement Plans
  • Savings Plans
  • Health Plans
  • Group Plans

#2 AEGON Life Insurance

AEGON Life is one of the top digital life insurance companies in India. AEGON Life insurance was launched together with AEGON N. V, an international provider of life insurance, pensions, and asset management, and Bennett Coleman & Company, India's largest media conjunction popularly known as the Times Group. AEGON Life Insurance Company offers an array of reasonably priced life insurance policies. Their insurance plans are made-to-measure to shield you against the mounting financial outlays post-death. AEGON Life insurance, you can rest assured knowing that you and your family’s unique needs are being taken note of and fulfilled.

Key Highlights:-

Foundation: 2008
Claim Settlement Ratio: 99.25%
Solvency Ratio: 2.41
Number of Branches: 83

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Benefits & Features:

  • Tax Benefits
  • Guaranteed Income
  • Wealth Creation
  • Savings & Loan Facility
  • Investment Option
  • Superior customer service
  • Hassle-free claim settlement

Plans Available:

  • Term Plans
  • ULIP Plans
  • Savings Plans
  • Retirement Plans
  • Money Back Plans
  • Group Plans
  • Other Plans

#3 Bharti AXA Life Insurance

Bharti AXA life insurance is a collaboration of Bharti Enterprises which is one of India’s leading business groups and the AXA Group with has its headquarters in Paris. It is one of India's leading business groups with interests in Telecom, agricultural business, and financial services. Bharti AXA life insurance company offers various types of insurance products on a wide scale. It consists of saving plans, children's education plans, term insurance plans, ULIP plans, etc. Bharti AXA Life Insurance provides long-term value to its customers.

Key Highlights:-

Foundation: 2006
Claim Settlement Ratio: 99.05%
Solvency Ratio: 1.78
Number of Branches: 268

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Benefits & Features:

  • Variety of Plans
  • Pays off Liabilities
  • Excellent Customer Support
  • Tax Benefits
  • Long-Term Coverage
  • Cost Effective
  • Flexibility in Premium Payment

Plans Available:

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

#4 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.

Key Highlights:-

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

#5 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.

Key Highlights:-

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

#7 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.

Key Highlights:-

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

#7 Kotak Mahindra Life Insurance

Kotak Mahindra Life insurance company limited is one of India's best and fastest-growing insurance companies. 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.

Key Highlights:-

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

#8 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.

Key Highlights:-

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

#9 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.

Key Highlights:-

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

#10 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.

Key Highlights:-

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

Conclusion:

Many different types of life insurance companies offer different life insurance policies for your needs and budget. Online life insurance quotes are a great way to get the best rates for your coverage. They are also a great way to compare different insurance providers and see which one offers the best coverage for your needs.

PolicyBachat is an insurance web aggregator that will see for yourself which life insurer provides the best life insurance policy by comparing quotes online. So, compare life insurance quotes and grab your life insurance policy now. It has compiled everything you need to know about Pramerica life insurance alternatives in one place so that it is easy for you to find out which one is best suited for your needs and budget.

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