List of Insurance Companies in India

Differences between Life and General Insurance?

Factors

Life Insurance

General Insurance

Definition

Covers an individual’s life for a certain sum of money. Upon death of the insured, this money is paid out to next of kin.

All insurance plans, which cannot be classified as life insurance, is known as general insurance policies.

Investment or Insurance

Life insurance is a form of investment.

General insurance policies act as a contract of indemnity.

Contract Tenure

Long term

Short term

Insurance Claim

The sum insured is disbursed as death benefit or upon the maturity of life insurance policy.

Financial reimbursement for unexpected loss or damage of the insured object or person.

Policy Value

A policyholder decides the value of life insurance policy, which is reflected on the policy premiums.

General insurance claims or reimbursement amount on the loss amount suffered by the policyholder.

Insurance Holder

The policyholder must be present when the life insurance contract is being drawn out.

The policyholder must be present during the creation and enforcement of the contract.

Premium

Premium for life insurance plans are payable throughout the year.

General insurance premiums are cleared at once through lump-sum payments.

Now that you can tell life insurance from general insurance, let’s learn more about the various insurance companies offering such plans in India.

List of Life Insurance Companies in India

Company name

Founding year

Headquarter location

Life Insurance Corporation of India

1956

Mumbai

Max Life Insurance Co. Ltd.

2000

New Delhi

HDFC Life Insurance Co. Ltd

2000

Mumbai

ICICI Prudential Life Insurance Co. Ltd.

2000

Mumbai

Aditya Birla SunLife Insurance Co. Ltd.

2000

Mumbai

Kotak Mahindra Life Insurance Co. Ltd.

2001

Mumbai

Pramerica Life Insurance Co. Ltd.

2008

Gurugram

TATA AIA Life Insurance Co. Ltd.

2000

Mumbai

Bajaj Allianz Life Insurance Co. Ltd.

2001

Pune

SBI Life Insurance Co. Ltd.

2001

Mumbai

Exide Life Insurance Co. Ltd

2001

Bengaluru

Reliance Nippon Life Insurance Company

2001

Mumbai

Sahara India Life Insurance Co. Ltd.

2000

Kanpur

Aviva Life Insurance Company India Ltd.

2002

Gurugram

PNB MetLife India Insurance Co. Ltd

2001

Mumbai

Bharti AXA Life Insurance Company Ltd

2005

Mumbai

IDBI Federal Life Insurance Company Limited

2008

Mumbai

Future Generali India Life Insurance Company Limited

2006

Mumbai

Shriram Life Insurance Co. Ltd.

2005

Hyderabad

Aegon Life Insurance Company Limited

2008

Mumbai

Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited

2007

Gurugram

Edelweiss Tokio Life Insurance Company Limited

2009

Mumbai

Star Union Dai-Ichi Life Insurance Co. Ltd.

2007

Mumbai

IndiaFirst Life Insurance Company Ltd.

2009

Mumbai

List of General Insurance Companies in India

Company name

Founding year

Headquarter location

National Insurance Co. Ltd.

1906

Kolkata

Go Digit General Insurance Ltd.

2016

Bengaluru

Bajaj Allianz General Insurance Co. Ltd.

2001

Pune

Cholamandalam MS General Insurance Co. Ltd.

2001

Chennai

Bharti AXA General Insurance Co. Ltd.

2008

Mumbai

HDFC ERGO General Insurance Co. Ltd.

2002

Mumbai

Future Generali India Insurance Co. Ltd.

2007

Mumbai

The New India Assurance Co. Ltd.

1919

Mumbai

Iffco Tokio General Insurance Co. Ltd.

2000

Gurugram

Reliance General Insurance Co. Ltd.

2000

Mumbai

Royal Sundaram General Insurance Co. Ltd.

2001

Chennai

The Oriental Insurance Co. Ltd.

1947

New Delhi

Tata AIG General Insurance Co. Ltd.

2001

Mumbai

SBI General Insurance Co. Ltd.

2009

Mumbai

Acko General Insurance Ltd.

2016

Mumbai

Navi General Insurance Ltd.

2016

Mumbai

Edelweiss General Insurance Co. Ltd.

2016

Mumbai

ICICI Lombard General Insurance Co. Ltd.

2001

Mumbai

Kotak Mahindra General Insurance Co. Ltd.

2015

Mumbai

Liberty General Insurance Ltd.

2013

Mumbai

Magma HDI General Insurance Co. Ltd.

2009

Kolkata

Raheja QBE General Insurance Co. Ltd.

2007

Mumbai

Shriram General Insurance Co. Ltd.

2006

Jaipur

United India Insurance Co. Ltd.

1938

Chennai

Universal Sompo General Insurance Co. Ltd.

2007

Mumbai

Agriculture Insurance Company of India Ltd.

2002

New Delhi

Aditya Birla Health Insurance Co. Ltd.

2015

Mumbai

Manipal Cigna Health Insurance Company Limited

2012

Mumbai

ECGC Ltd.

1957

Mumbai

Max Bupa Health Insurance Co. Ltd

2008

New Delhi

Care Health Insurance Ltd

2012

Gurgaon

Star Health & Allied Insurance Co. Ltd.

2006

Chennai

Before picking general insurance or life insurance policy, you must perform adequate research on the same. This will allow you to pick the plan, which offers the most value for money.

Make sure to check the features of a policy, instead of deciding based on the premium rate alone.

Frequently Asked Questions