best life insurance co. in india?



performance wise the best life insurance company as on 9-04-2010 and which gives good returns to clients. I want to make a career as an advisor.

best life insurance co. in india?
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4 Replies to “best life insurance co. in india?”

  1. IT IS NONE OTHER THAN LIFE INSURANCE CORPORATION OF INDIA. (LIC). Very reliable for its clients, very safe & transparent dealings & timely settlement of claims. LIC is here to stay, if not privatized by the govt. THe reliability of private insurance cos. will always be shaky.



  2. Hi Nitin,

    Before you make any decision, consider following points:

    1. All insurance companies in India are regulated by same institution, i.e. Insurance Regulatory And Development Authority (IRDA), no one is above the rules set by IRDA.

    2. Government’s role in LIC is restricted to only as a share holder and nothing more than that. If LIC comes up with any highly aggressive product or commits any mistake for that matter, don’t assume that Government would help them or policy holders.

    3. Also you need to look at various factors like the quality of service offered, transparency maintained in products etc. while taking any decision.

    4. Bonus or loyalty additions offered by insurance companies are directly related to the profits they make (at least 90 % of their profits are needs to be shared with policy holders as returns in the form of bonus or loyalty additions for with profit policies), so you need to decide under same set of rules and regulations, whether a government owned company or private company will make more profits.

    Check the link below to understand the malpractices followed by few trusted insurance companies.

    Based on the above mentioned points, you can take decision.

    If you want to select from any private insurance company, I would recommend you to go for insurance companies who are also in Banking business like HDFC Standrd life (Oldest private insurance company), ICICI prudential, SBI Life etc. since they can use their existing banking infrastructure to gain more clients as well as to provide service, hence could make more profits.

    Regards,

    Pranav






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