A life insurance policy is of core importance, particularly for the bread winner of the family, as it covers the risk f his life, and in case of his untimely death, provides financial support to the family. But it is essential to get a life insurance policy from a reputed and trustworthy insurance company to get full benefit of your investment.
Nowadays Insurance is no longer confined to the traditional term arrangements or entire life policies. The opening up of the insurance division in the most recent decade, has carried with it organizations, offering an assortment of choices with a scope of plan components. This could be a plain life cover or pension plan with standard stream of pay, or a cash back strategy for family duties.
There are more than 20 life insurance organizations with different sorts of plants and highlights and even the premiums for similar advantages might vary massively. It is hard to do a relative investigation of a large number plans in a straightforward way.
Here are some easy steps to choose a life insurance company
- Consult an insurance advisor
While this may appear to be insignificant, connecting with a solid and skilled insurance policy consultant at the very early stage in your search for life coverage is basic. Consulting a legal counsellor is important as most people are not capable to take a decision without anyone else’s input and need the mastery of an insurance consultant.
- Figure the life cover
The insurance counsellor help you figure the amount of life cover or the sum guaranteed. He will survey sources of your pay, number of your dependents, liabilities and your lifestyle expenses. Your insurance advisor can decide the best plan for you. Also you can trust your advisor for finding an ideal plan if you have other needs like your child’s education or marriage, retirement pension or insurance plan for women.
- Compare insurance plans
Since there are numerous insurance agencies in the market offering a variety of plans, you need to be confident that you select the most appropriate one. The insurance consultant will do the work by looking at extra or comparing insurance plans from different back up plans crosswise over applicable parameters prescribing the most proficient plan in view of your needs.
Take a look to the list of top 10 life insurance companies in India 2016:
ING Vysya Life Insurance Company is among the leaders in the insurance market in India in 2015. The company was established in 2001 and is based in Bangalore. It caters to a huge customer base of over a million people in the country.
Another leading life insurance company in India is Reliance Life Insurance, which is a subsidiary of Reliance Capital Company. The company began its operations in 2001 and is based in Navi Mumbai and the Japanese company, Nippon took over 26% of its share in 2011. It has an employee base of 1000 people at present.
Tata AIA Life is another renowned player in the insurance sector. Established in 2001, the company is a joint venture of Tata Group and American International Group (AIG). The company is based in Mumbai and has registered immense success in life insurance sector.
The next name among the top 10 life insurance companies in the country in 2015 is that of Max Life Insurance, a tie up between Max India Limited and Mitsui Sumitomo Insurance Company Limited, a leading global insurance company. The company was founded in 2000 and is head quartered in New Delhi.