A life insurance policy is a contract between the life insurance company and the policyholder that states that, in exchange for a payment of a premium, the company will pay out a sum of money to either the policyholder or their beneficiary in case of death. Life insurance is often purchased by people who want to protect their dependents against loss of income due to an untimely death. However, many people do not purchase life insurance because they feel it is too expensive.
There are many life insurance alternatives to buying a life insurance policy. Aviva is one of the oldest and most respected names in the insurance industry. Aviva offers a range of different types of life insurance products. If you consider Aviva Life Insurance, you may also need to look into alternatives or competitors to find the right one that fits your needs. In this article, we will talk about some top 10 competitors or alternatives to Aviva Life Insurance Online that are available in India. Before moving into the top alternatives of Aviva life insurance lets us know about Aviva life insurance.
Aviva Life Insurance |
| Foundation |
2002 |
| Claim Settlement Ratio |
98.01% |
| Solvency Ratio |
2.24 |
| Number of Branches |
790 |
| Plans |
Term Plans, Retirement Plans, Child Plans, Savings Plans, Group Plans |
| Benefits & Features |
Tax Benefits, Wealth Creation, Life-Long Coverage, Investment Option, Good Customer Support, Easy Claim Settlement, Death Benefits |
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Reasons to Compare Aviva Life Insurance Alternatives
When it comes to choosing an insurance provider, you may be tempted to go with the company that your family has always used. However, there are many different factors that you should consider before making a decision. The best way to find the right insurer for you is by considering your needs and what kind of coverage you're looking for in a policy.
The insurance market is always evolving and adapting. This is because people are always looking for better deals, more coverage, and more benefits. The Aviva Life Insurance Company offers a wide range of products for consumers, but it's important to know that there are other options out there for you to consider. A comparison of the Aviva Life Insurance alternative will help you make a decision. There are many reasons why someone may want to compare Aviva alternatives. Some of the reasons to compare Aviva Life Insurance Alternatives are
- For better customer service reviews.
- For cheaper premiums.
- For better benefits and features, etc.
Best Aviva Life Insurance Alternatives & Competitors
Finding the best Aviva Life Insurance alternatives is not always an easy task. There are many things to consider, such as your needs and budget. The best Aviva life insurance alternatives in India are available at PolicyBachat.com. Here you can compare and buy the best life insurance plans from various companies and get the best deals on your purchase. PolicyBachat is an online insurance comparison website that offers a platform to compare and buy the best insurance plans from various companies. It sorted out a list of the best alternatives and competitors to Aviva Life Insurance.
This article is a complete guide to finding the best Aviva Life Insurance online alternative. It will help you find the best company for your needs, and it will also provide you with some of the most important details about what to look for when you're comparing plans. To help you find the best Aviva Life Insurance alternatives for your needs, we've compiled a list of some of the top companies that offer life insurance policies.
Top 10 Aviva Life Insurance Alternatives & Competitors
Here is a list of the top 10 competitors or alternatives to Aviva Life Insurance online.
#1. 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.
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
#2. 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.
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
#3. 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.
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
#4. 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
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Benefits & Features:
- Long-Term Coverage
- Affordable Premiums
- Excellent Customer Services
- Wide Range of Products
- Financial Assistance
- Tax Benefits
- Return of Premiums
- Easy Claim Settlement
Plans Available:
- Protection Plans
- ULIP Plans
- Savings Plans
- Child Progress Plans
- Health Plans
- Retirement Plans
- Group Plans
#5. 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.
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 I Plans
- Child Plans
- Retirement Plans
- Savings Plans
- Investment Plans
- Health Plans
- Rider Plans
#6. Kotak Mahindra Life Insurance
Kotak Mahindra Life insurance company limited is one of the best and fastest-growing insurance companies in India. 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.
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
#7. 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.
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
#8. 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.
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
#9. 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.
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
#10. Tata AIA Life Insurance
Tata AIA Life Insurance Company is one of the fastest-growing leading insurers in the Indian private sector. Tata AIA Life Insurance Company Limited is a joint venture between Tata Sons and AIA Group Ltd. Tata Sons holds a stake of 74% in the company and AIA holds 26%. It is accomplished by offering customized life, health, and group insurance solutions to individuals and families, and a group of people.
Foundation: 2000
Claim Settlement Ratio: 98.02%
Solvency Ratio: 2.04
Number of Branches:216
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Benefits & Features:
- Wide Range of Products
- Trusted Brand
- Excellent Claim Settlement Ratio
- Affordable Insurance Plans
- Excellent Customer Services
- Flexible Payment Options
Plans Available:
- Term Plans
- ULIP Plans
- Retirement Plans
- Savings Plans
- Group Plans
- Combo Plans
Conclusion & Key Takeaways
It is important to consider a few things when you're looking for the best Aviva Life Insurance alternatives. For example, what are your needs? What is your budget? What are the features that you want in an insurance plan? You will want to consider whether the plan offers a death benefit, disability coverage, and critical illness protection. You may also want to look into whether there is an option for automatic savings or life insurance.
The best Aviva Life Insurance alternatives can provide you with peace of mind and a sense of security. There are many alternatives to Aviva life insurance but the best alternatives. Compare top insurers with PolicyBachat which offers a wide range of coverage options so that you can find the perfect plan that best suits your needs. So, compare life insurance quotes and grab the best life insurance policy.