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Life Insurance Plans in Bangalore

If you are a resident of Bangalore then you can visit BankBazaar to find the best insurance policies sold in the city of Bangalore. You will be able to make a better decision of purchasing the insurance policy which you feel will be the suitable for you.

Life insurance recognizes the value of human life and compensates for the irrecoverable loss of that value in monetary terms. The fragility of human life is understood when sudden death or disability occurs due to natural and accidental causes. When these calamities occur, a household suffers income losses and struggles to make both ends meet. Life insurance is a financial cover for unexpected contingencies attached to human lives.

In India there are around 52 insurance companies providing both life and non-life coverage. Out of that, 24 companies provide life insurance for individuals. In Bangalore, there are a lot of options to buy life insurance with all the major companies providing a variety of life insurance plans.

Bangalore is the third most populated city in India with over 10 million people (as of 2104). This capital state of Karnataka is also estimated to be 89% literate. This creates a viable market for life insurers as is evident from the fact that Bangalore has been among the leading metros contributing to overall life insurance premium collections in the industry.

This metropolitan continues to attract people from all over the country given its vibrant economy which provides attractive job opportunities. Along with higher incomes, residents of Bangalore are becoming more financially acute. Personal economic stability and sustaining improved lifestyles have prompted demand for products such as life insurance plans that assure financial protection of oneself or one’s dependents in the face of uncertain events viz. Death.

Bangalore also boasts a very tech-savvy population which fuels demand for online insurance plans. The online insurance space is well-targeted by all leading providers. Some of the key advantages of online plans are low costs, easy accessibility and ease of renewability.

Top 10 Life Insurance Companies In Bangalore

The following companies have the strongest presence in Bangalore and have been listed in order of the number of offices they operate.

  1. LIC of India is the only public sector insurer providing a vast variety of plans across the country with around 31 branches in Bangalore.

  2. SBI Life is controlled by the State Bank of India, a well-established banking institution across the country. Along with BNP Paribas Assurance, SBI Life provides excellent life insurance options to its customers with 9 branches operating in Bangalore.

  3. ICICI Prudential was one of the first private sector companies to start providing life insurance plans in Bangalore currently with 6 branches in the city.

  4. Max Life Insurance provides excellent choices in insurance plans and has 5 branches in Bangalore and is headquartered in New Delhi.

  5. HDFC Standard Life is one of the top life insurance providers with a vast range of life insurance products having 5 branches in Bangalore.

  6. Bharti AXA Life, made up of Bharti, a leading telecom provider in India and AXA, a foreign insurer, provides premium life insurance plans to suit every individual through its 4 branches in Bangalore.

  7. Kotak Life, led by the Kotak Mahindra Group, as a leading financial institution, offers multiple life insurance options in collaboration with Old Mutual Plc operating with 4 branches across Bangalore.

  8. Exide Life based out of Bangalore, is the erstwhile ING Life Insurance Co. has 4 branches spread across Bangalore providing tailor-made plans to suit every customers needs.

  9. PNB Metlife offers a wide variety of life insurance plans through a collaboration between PNB and Metlife, with 3 branches in Bangalore.

  10. Bajaj Allianz, as a joint venture between Bajaj Finserv and Allianz SE, is a leading life insurance provider in Bangalore with 3 branches and is headquartered in Pune.

Along with the above mentioned insurers IDBI Federal, Canara HSBC, Reliance Life, TATA AIG Life, India First Life, Aegon Religare, Future Generali, Shriram Life, Aviva Life, Sahara Life, Star Union, DLF Pramerica and Birla Sun Life also provide different types of life insurance plans in Bangalore.

Life Insurance Bangalore Reviews

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  • Bharti Axa Life Life Insurance
    "Good for nominee savings"
    0.5 4.0/5 "Great!"
    Reason to chose Bharthi Axa, my friend working there hence I took the policy. I have taken term insurance with the coverage of Rs.23 lakhs , I can add multiple nominees, I make the premium of Rs.95,000 its for per annum. It has term of 10 years, now a days they have different options too.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 17, 2019
  • LIC Life Insurance
    "Good for future investment"
    0.5 4.0/5 "Great!"
    I don't have any query with Money back policy from LIC, they has all the option through online hence I can visit any branch for LIC queries. I get the bulk amount after 20 years , its good for my daughter marriage or education. therefore I make Rs.30,000 per annum.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 17, 2019
  • LIC Life Insurance
    "Good for education purpose"
    0.5 4.0/5 "Great!"
    Long back I done LIC, I was taken education policy for my daughter, I took for it 21 years, I need to pay the premium upto 18 years, then I get 20% of amount every two year once for my daughter education purpose, everything is online, I make the premium around Rs. 40k per annum.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 17, 2019
  • HDFC Life Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been using my life insurance with HDFC LIFE,there service is good, i use to pay my premium on yearly basis , they have charged me up to 5000 rupees ,i use to pay through on line , they are not taken any extra charges,the agent had explain me clearly about there policy coverage.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 17, 2019
  • LIC Life Insurance
    "Good policy"
    0.5 4.5/5 "Excellent!"
    I have taken 4 policies with LIC from long back. Its a mixed of endowment, money back and life insurance policy for family. I am satisfied with the benefits. If there is any problem I can manage the account online. I pay the premium by cash or cheque, its hardly around 1300 or 1400 rupees every quarterly and also monthly premium has been done.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 14, 2019
  • IDBI Federal Life Insurance
    "I feel I should have taken a better product"
    0.5 2.0/5 "Expected more"
    I have taken IDBI Federal Incomesurance policy 6 yrs back, premium of Rs 1.2 Lakh/yr, for 15 yrs . Life Coverage only 18.3 lakh, I will get only 1.8 Lakh per year for 10 yrs at end of term, which is meagre by any std. I am not able to come out of it as I will be loosing heavily. I am retiring after three years and after that I have to pay for another 5 years to get this benefit (yrly payout) . I do not know what to do.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 13, 2019
  • LIC Life Insurance
    "Its Good"
    0.5 4.0/5 "Great!"
    I have taken some policy with LIC, I could not recall the name of the life insurance. But it has the term of 15 years, I need to pay only for 10 years, I get the coverage for whole year. They are providing tax benefits with the life insurance premium and it has life coverage.
    Was this review helpful? 1
    , bangalore
    Reviewed on Jan 09, 2019
  • LIC Life Insurance
    "Not satisfied"
    0.5 2.0/5 "Expected more"
    I have my life insured with LIC from last 15 years and it is a long term policy. I pay my premium once on 6 months through direct payment and i am convenient with the payment options. I am not happy with the returns and tenure period for this policy is for 25 years.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 09, 2019
  • LIC Life Insurance
    "Benefits part should be increased"
    0.5 4.0/5 "Great!"
    I don't like the LIC, my father have done hence I am paying the money. Because the money is locked for long term, if I go for the withdrawal I will be getting 60% of money alone, better we can invest in other insurer. The its long term policy its not much beneficial too.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 08, 2019
  • Tata AIA Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I had taken this Life insurance policy a long time back and the premium had been paying on a monthly basis. The premium amount has not been too high and the payment method has been simple and easy where it has been done online. It has been a good policy.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 08, 2019
  • ICICI Prudential Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I had taken this insurance policy a while back and i had been paying the premium on a monthly basis. The premium has been paying online and the payment method has been easy and the premium amount has not been too high. The services with them has been quite good so far and it has been a good policy.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 08, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I had taken this insurance policy a while back and the premium had been paying online which was convenient and easy. The premium amount has not been too high and the services with them has been quite good so far. It has been a good policy where there was no issues faced.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 08, 2019
  • LIC Life Insurance
    "Good Savings policy"
    0.5 5.0/5 "Blown Away!"
    I have chosen the life insurance policy with LIC. I bought the Jeevan saral 6 years back. I pay the premium amount of Rs. 6125 every quarterly. Its a 15 years total tenure period policy. This policy has sum assured amount of Rs. 5 lakhs and this is a tax benefit policy.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 08, 2019
  • LIC Life Insurance
    "Good Savings policy"
    0.5 5.0/5 "Blown Away!"
    I have purchased my Bhima Jeevan 1 year back. I have been paying the premium amount of Rs. 2500 every month. Total tenure period the policy is 15 years. I make the premium through online. One of the agent has referred this policy. This policy has a tax exemption.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 08, 2019
  • LIC Life Insurance
    "Its Good"
    0.5 4.0/5 "Great!"
    The LIC is providing good benefits for long term investment on the life insurance, I have different policies everything has life cover and financial security for the unforeseen events. I am not sure about the online statement about the premium.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 04, 2019
  • LIC Life Insurance
    "Good policy for tax benefits"
    0.5 5.0/5 "Blown Away!"
    I believe the premium is economical for the long term policy with premium, now a days they have good online technology to pay the premium. I don't remember policy name, they do have life coverage and tax life benefits. Its reputed and trusted one.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 04, 2019
  • Aegon Life Life Insurance
    "Good Guidance in their office"
    0.5 5.0/5 "Blown Away!"
    I went to their regional office and i have purchased my term insurance. I have selected the Aegon company because their claim ratio is really good and they have explained the term and conditions properly. I'm satisfied with the coverage value.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 03, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I have taken life insurance policy for my children and it is a child plan. I have this policy from last 6-7 years and i pay my premium once in 3 months by cash and i am convenient with the payment options. I am happy with the returns and benefits of this policy.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 03, 2019
  • SBI Life Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I'm holding a life insurance policy with SBI LIFE. My neighbors have recommended me about this policy. I pay the premium amount of Rs. 10000 per year. This is a tax benefit policy. It has a sum assured amount of Rs. 1 lakhs. Total tenure period of the policy is 10 days. This policy covers the death benefits and disability benefits.
    Was this review helpful? 1
    , bangalore
    Reviewed on Jan 02, 2019
  • HDFC Life Life Insurance
    "Don't go with HDFC LIFE for Insurance"
    0.5 2.0/5 "Expected more"
    I have invested Rs. 80000 in HDFC LIFE. They have deducted the money from my account but they have not able to generate a bill. Due to the uncertanity, i have not continued with this policy. They charged me twice for single premium. I closed the policy but they have taken long time to return the money anyway it took a long process. I spoke with the call centre regarding this issue but they were not helpful.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 02, 2019
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