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Life Insurance Plans in Chennai

Life insurance policies are significant as they provide multiple options for debt compensation, income restoration and estate planning for the applicant’s family. In case of an unfortunate event, without a life insurance policy, an individual’s family and their dependents could potentially face financial adversity.

With the investment of adequate time and effort, an individual can approach a reputable broker or agent of a life insurance company, examine their options, choose the apt coverage, and ensure that his/her family will be protected if something untoward might happen.

Top 10 Life Insurance Companies in Chennai

  1. Life Insurance Corporation of India : The company has information centers in Mumbai, Delhi, Chennai, Kolkata, etc. There are about 44 LIC branches in Chennai. LIC is the largest life insurance company in India, and has a wide range of products for customers.

  2. SBI Life : It is a joint venture of BNP Paribas Assurance and SBI, the largest public sector bank in the country. It has 12 branches in and around Chennai.

  3. Reliance Life : It offers the most innovative and user friendly plans for Life Insurance in India. Reliance Life is an associate of Reliance Capital Limited , which is one of the dominant private sectors in India. As of March 31, 2013, Reliance Life has had 93.67% of claim settlement ratio. It offers life insurance claim settlement in just 12 days or interest at the rate of 6.5% p.a. is added in case of delayed payment. It has 8 branches in Chennai.

  4. Bajaj Allianz Life Insurance : Bajaj Allianz is an Indian Insurance company and is a joint venture of Allianz AE and Bajaj group. The Company has 9 branches in Chennai and offers products in all categories of life insurance.

  5. Birla Sun Life Insurance: It is a joint venture of Sun Life Financials and Aditya Birla group . The company has 6 branches across Chennai.

  6. HDFC Standard Life: It is one of the major market leaders in the insurance sector in India. It has 6 branches for service operations and its customer service center is also located in Chennai.

  7. Tata AIG Life : This renowned life Insurance company in India offers a wide array of products related to life insurance for individuals as well as businesses. The company puts forward high quality solutions to its corporate Indian clients. It has 4 branches in 4 major locations in Chennai that are easily accessible.

  8. Kotak Life Insurance: This life insurance company was established in 1985 and since then it has come up with creative solutions to promote a financial security. It has 4 main branches in Chennai.

  9. Max Life Insurance: This company is a partnership between Max India, one of India's leading multi-business corporations and New York Life International, Inc. It has 3 operational offices in Chennai.

  10. ICICI Prudential Life Insurance : ICICI Prudential is an asset management company which is a joint venture of ICICI and Prudential plc. It has 2 main branches in Chennai and the branch in Royapettah is an opat office, i.e, financial transactions can be submitted only at Official Point of Acceptance of Transaction (OPAT) offices.

HDFC Standard Life,ICICI Prudential, Kotak Mahindra Life Insurance, Max Life, SBI Life and LIC are some of the life insurance companies that project a high rate of claim settlement, with LIC having the highest ratio of claim settlement. LIC has outdone other private agencies in settling death claims in the year 2013-14, as per the report submitted by Insurance Regulatory and Development Authority of India.

Buying Life Insurance Through BankBazaar

BankBazaar is a financial services provider with a range of services across banking and insurance sectors, among others. The website offers a range of functionalities that help users in identifying the best life insurance plans for them and then applying for them through respective gateways, thus saving the trouble of going through agents or middlemen.

Through BankBazaar, customers can view various policies as per their requirements as well as select policies and compare them. After comparison, the customer can choose the best policy that meets his/her needs and can purchase the policy of their choice through BankBazaar in a quick and uncomplicated manner. The process is very transparent and user friendly and does not consume time or have other hidden complications or charges, thus providing users a quick way to obtain the best life insurance policies in Chennai.

Life Insurance Chennai Reviews

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  • LIC Life Insurance
    "Good Trusted insurance company"
    0.5 3.5/5 "Pretty good"
    They have reached across all over and they have spread the different policies when I started this policy they helped on it. I normally pay the premium annual basis around Rs.1.5 lakh for the long term with tax benefits and life cover also included.
    Was this review helpful? 0
    , chennai
    Reviewed on Dec 13, 2018
  • LIC Life Insurance
    "Useful policy"
    0.5 4.0/5 "Great!"
    One of my colleague who is in office has referred me about the life insurance policy with Life Insurance Corporation of India. I used to pay the premium amount of RS. 3000 every quarter. I have to pay the premium amount for next 15 years. 1 year back, i have purchased this policy. This is a tax benefitable policy. I make the payment through online by using my Debit card.
    Was this review helpful? 0
    , chennai
    Reviewed on Dec 07, 2018
  • LIC Life Insurance
    "Good investment for Future"
    0.5 4.0/5 "Great!"
    The policy which I taken is whole life policy, the premium is around Rs.6000 per annum, its not an endowment plan. I will get the benefits after the matured period. My father was taken the policy on my name for 75 years, it has life coverage, tax benefits available. Even I can take loan based on the cover.
    Was this review helpful? 1
    , chennai
    Reviewed on Dec 06, 2018
  • LIC Life Insurance
    "Good option"
    0.5 5.0/5 "Blown Away!"
    They are very good but the customer service is not easy approachable. I have taken the policy called Jeevan anand the premium I pay in a year Rs 52,000 for the tenure of 16 years. I can check the statement after the payment which I done through online.
    Was this review helpful? 1
    , chennai
    Reviewed on Dec 06, 2018
  • Kotak Life Life Insurance
    "Always with you"
    0.5 4.0/5 "Great!"
    Its quite reliable and trust worthy, the premium that I pay around Rs. 3.5 lakhs for the tenure of 10 years, finally I get some Rs.70 lakhs with life coverage and tax benefits. Payment mode is good, I gave pay cash , online, cheque, credit card.
    Was this review helpful? 0
    , chennai
    Reviewed on Dec 05, 2018
  • LIC Life Insurance
    "Good life cover policy"
    0.5 5.0/5 "Blown Away!"
    My life was insured with LIC. I have chosen the life cover plan. They have given me a sum assured amount of Rs. 5 lakhs. Total tenure period of the policy is 20 years. I have paid the premium of Rs. 3200. I have chosen the monthly payment mode. I pay the premium through ECS. 10 years before i took this policy.
    Was this review helpful? 0
    , chennai
    Reviewed on Dec 02, 2018
  • LIC Life Insurance
    "Good Insurance policy"
    0.5 5.0/5 "Blown Away!"
    I have taken the accidental policy 15 years before Life insurance corporation of India. I have paid the premium amount of Rs. 125 and the maturity amount will be 25000. This is a tax benefits covered policy. I have got the benefits of accidental benefits and death cover. One of my friend who recommended me about this policy.
    Was this review helpful? 0
    , chennai
    Reviewed on Dec 02, 2018
  • Bajaj Allianz Life Life Insurance
    "Earlier it was good policy"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance policy with Bajaj Allianz. The plan name was child care policy. I pay the premium amount through ECS. I took this policy 13 years ago. I can able to get the benefits after 18 years. I pay the premium amount of Rs. 6700 yearly. I took this policy for child's benefits.
    Was this review helpful? 0
    , chennai
    Reviewed on Dec 02, 2018
  • LIC Life Insurance
    "Best LIC policy"
    0.5 5.0/5 "Blown Away!"
    The premium amount will be deducted from my salary. One of the LIC agent who referred me to take the policy. 15 years back i have purchased the money back policy. I have paid the premium amount of Rs. 125. The total sum assured amount is Rs. 20000. The policy is going to over by next year. Every 4 years, i have got the returns Rs. 4000 in every 4 years.
    Was this review helpful? 0
    , chennai
    Reviewed on Dec 02, 2018
  • LIC Life Insurance
    "GOOD SERVICE"
    0.5 5.0/5 "Blown Away!"
    I am using the life insurance policy with LIFE INSURANCE CORPORATION OF INDIA from past where i have been using it from past 29 years. The name of the policy is JEEVAN SREE. The maturity period is for 58 years. The premium i pay on monthly basis.
    Was this review helpful? 0
    , chennai
    Reviewed on Dec 01, 2018
  • Max Life Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    I have a life insurance with Max Life and it was taken through an agent. This is a necessary for me and it was taken for tax benefits. The customer service is good. The policy coverage and plan benefits are fine, it could have been better. I make annual premium of around 30K.
    Was this review helpful? 0
    , chennai
    Reviewed on Nov 30, 2018
  • SBI Life Life Insurance
    "More secure policy"
    0.5 5.0/5 "Blown Away!"
    My life insurance policy taken with SBI LIFE. This is a secure plan policy There is lockin period of 7 years however total tenure period of the policy is 20 years. I have to pay the premium of Rs. 23000. I have to pay the premium for 10 years. This policy has a coverage of death benefits and accidental coverage. The amount will be deducted from amount for every quarter.
    Was this review helpful? 0
    , chennai
    Reviewed on Nov 30, 2018
  • LIC Life Insurance
    "Good money back policy"
    0.5 5.0/5 "Blown Away!"
    My money back policy was taken 8 years ago with Life insurance corporation of India. Every 3 months i used to pay the premium amount of Rs. 25000. Total term of the policy is 20 years. The payment will be deducted from my account directly. My friend who is working as a LIC agent has referred me about this plan.
    Was this review helpful? 1
    , chennai
    Reviewed on Nov 30, 2018
  • SBI Life Life Insurance
    "Good child educational benefit policy"
    0.5 5.0/5 "Blown Away!"
    I have taken a education policy with SBI LIFE. I have purchased this policy for my son's education. I have to pay the premium of Rs. 1 lakh per year. I will get a sum assured amount of Rs. 15 lakhs. With a bonus and interest other benefits i will get a amount of Rs. 25 lakhs. When my son reach 18 years some amount will be transferred to my account. This policy not available right now.
    Was this review helpful? 0
    , chennai
    Reviewed on Nov 30, 2018
  • LIC Life Insurance
    "Life cover policy"
    0.5 5.0/5 "Blown Away!"
    I have purchased my Jeevan And policy with Life insurance policy nearly 8 years back. I have one friend who referred me about the LIC policy. I have been paying the premium amount of Rs. 1.5 lakhs per year. They have offered me a sum assured amount of Rs. 15 lakhs. Total tenure period of the policy is 20 years. This is a tax benefitable policy.
    Was this review helpful? 0
    , chennai
    Reviewed on Nov 30, 2018
  • HDFC Life Life Insurance
    "Average Policy"
    0.5 3.0/5 "Satisfactory"
    I have a life insurance policy with HDFC LIFE from last 1 year and it is a long term policy. I pay my premium once in a year through online and i am convenient with the payment options. Tenure period for this policy is 12 years and this policy has good returns.
    Was this review helpful? 0
    , chennai
    Reviewed on Nov 29, 2018
  • PNB Metlife Life Insurance
    "Best policy"
    0.5 5.0/5 "Blown Away!"
    I have my life insurance policy with PNB MET LIFE from last 5 months, it is a long term policy. I am not aware of the premium amount as my company pays it. I am convenient with the payment options of this policy and the returns are very good in this policy,
    Was this review helpful? 1
    , chennai
    Reviewed on Nov 29, 2018
  • Edelweiss Tokio Life Insurance
    "Customer friendly"
    0.5 5.0/5 "Blown Away!"
    I took my life insurance with EDELWEISS TOKIO LIFE INSURANCE. The services are good, they have comparison study with different companies. They are providing a doorstep service and doing a comparison online. And they showed it lively to the customers. The benefits are good. The payment mode is convenient. I pay every month 11,200 rupees through online. The policy is for 7 years and the maturity period is 10 years.
    Was this review helpful? 0
    , chennai
    Reviewed on Nov 27, 2018
  • LIC Life Insurance
    "Better"
    0.5 4.5/5 "Excellent!"
    My life insurance policy was taken in LIC before 10 years. I think, its a Jeevan Anand policy. The tenure period is 20 years. I feel the maturity amount was very less,that time it was huge comparing now its not beneficial. Am paying 3000 rupees once in a 3 months through agent.
    Was this review helpful? 0
    , chennai
    Reviewed on Nov 23, 2018
  • LIC Life Insurance
    "Good Endowment policy"
    0.5 5.0/5 "Blown Away!"
    Jeevan anand is an endowment policy, it has the total term of 18 years I get maturity amount and the tenure period of the policy. It has good life coverage. I make the premium through standard instruction. I can track my LIC transaction through their website.
    Was this review helpful? 0
    , chennai
    Reviewed on Nov 23, 2018
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