Top 10 Life Insurance Policies in India for 2024 (2024)

FAQs

Which is India's number 1 life insurance? ›

Which is the best insurance provider in India? LIC of India is considered the best life insurance provider according to the IRDAI list of life insurance providers.

On January 20, 2024, LIC introduced an annuity plan called LIC Jeevan Dhara II, which is an individual savings-oriented deferred annuity plan.

Life Insurance Corporation of India has offered policyholders financial security. Being one of India's largest life insurance companies and a state-owned organisation, LIC provides a financially secure future to your loved ones and has proven to be a reliable investment option.

Under the guaranteed surrender value, the policyholder can surrender their policy only after the completion of 3 years. This means that the premium has to be paid for a minimum period of 3 years. If you surrender after 3 years, the surrender value will be around 30% of the premiums paid till date.

LIC Share Price 2025 is predicted to remain between Rs 1,136 and Rs 869. What is the LIC Share Price Prediction 2030? LIC Share Price in 2030 is predicted to remain between Rs 1,702 and Rs 1,078.

Fixed Deposit Vs LIC - Which Is Best For You? A fixed deposit is always a better option to invest as it is purely designed for your investment and savings-related needs. If you intend to save and invest for the future, you should invest in fixed deposits.

Benefits of LIC 1 Crore Insurance Plans

LIC 1 Crore Insurance plans offer comprehensive coverage to you and your family against death and other life uncertainty such as accident, disability, or critical illnesses. Moreover, the premiums paid towards these plans are quite lower than other investment methods.

What is LIC 1 lakh policy? ›

The LIC Policy of One Lakh is a mix of a life protection plan and a savings plan created to take care of your and your family's financial requirements after your passing and to assist you in better planning for your future objectives.

One needs to take their needs into account before investing in either LIC schemes or PPF. Both schemes offer tax benefits and are low-risk. If the motive of the investment is to create some wealth to beat inflation in the long run, the PPF may be a better choice.

The Ayushman Bharat Yojana, now called the Pradhan Mantri Jan Arogya Yojana (PMJAY), aims to be one of the world's largest health insurance schemes. It aims to offer a health insurance plan of Rs. 5 lakh annually per family for secondary and tertiary care hospitalisation, benefiting over 12 crore vulnerable families.

Term life insurance. Whole life insurance (permanent) Universal life insurance (permanent)

Pacific Life is the best life insurance company of 2024, based on our analysis. The best life insurance companies offer a range of policies, including term and permanent coverage. Several companies in our rating offer life insurance policies without a medical exam.

Life Insurance Corporation of India, popularly known as LIC, is the largest life insurance company owned by the Government of India.

In terms of number of policies settled during 2022-23, Max Life Insurance has the highest claim settlement ratio of 99.51%. With a 99.39% claim settlement ratio, HDFC Life Insurance came second on the list. Aegon Life Insurance bagged the third position with a 99.37% claim settlement ratio.

Life Insurance Corporation of India, SBI Life Insurance and HDFC Life Insurance are the most profitable insurance companies, reveals an analysis of financial disclosures. These companies rank the top three in the terms of profit before tax (PBT) as well as profit after tax (PAT).