In these times, opting for a life insurance policy is not only a sensible but also a responsible step. Apart from securing the financial future of one's family in case of sudden demise or critical illness, life insurance policies also provide long-term investment and tax benefits under the Indian Income Tax Act as well as serve as one's post-retirement funds.
Kolkata, the financial center of eastern India, was the first Indian city to incorporate a life insurance company (Oriental Life Insurance Company, 1818). Though there has been a sharp economic decline since the 90s, the increasing number of life insurance companies in Kolkata play a key role in improving the situation. The squalid situation, dense population and alarming accident rates make life insurance plans imperative for residents of Kolkata.
Top 10 Life Insurance Companies in Kolkata
24 life insurance companies have their operations in India and almost all of them have multiple branches in Kolkata. In fact, a major chunk of eastern India's premium is collected from Kolkata.
- LIC offers life insurance policies at any of their 10 offices in Kolkata. Being a public sector entity, the premium rates and the variety of products are aimed at providing the best benefits to customers.
- Kotak Life Insurance runs 7 branches in Kolkata including its Corporate Adviser office. Kotak is counted among the top 10 firms in the country in terms of premium paid and policies bought.
- SBI Life is the 4th largest insurance firm in the country in terms of premium paid. The phenomenal reach of SBI in India has been instrumental in creating a large customer base for the company. SBI operates 6 branches in Kolkata.
- ICICI Prudential is the largest private sector insurance company in India, and has a significant presence in Kolkata through its 6 operational offices.
- Max Life operates 6 branches in Kolkata. Max Life is one of the premier life insurance providers in the country, with operations in almost all the major towns and cities in India.
- There are 5 Reliance Life offices throughout Kolkata. Reliance Life has a 5% market share in the Indian insurance space, and has a wide base of 124,000 agents to provide speedy services.
- Aviva Life Insurance has more than 130 branches in the country, including 4 in Kolkata. A joint venture company between Aviva and Dabur, it is among the top insurance firms operating in Kolkata.
- Bajaj Allianz Life Insurance operates 4 offices in Kolkata. Bajaj Allianz has a substantial product portfolio, and provides policies ranging from Child Plans to ULIPs.
- HDFC Standard Life Insurance has 3 branches in Kolkata. HDFC is the 3rd largest insurance firm in India. It reaches out to a large and diverse customer base through its partner HDFC Bank, which has numerous branches across the city.
- Sahara India Life is the insurance segment of Sahara India. Currently, the company operates 2 branches in Kolkata, and has a comprehensive set of policies designed for various demographics of customers.
Apart from the aforementioned insurance providers, there are other companies that sell a wide range of life insurance plans in Kolkata, which are listed below.
- Birla Sun Life Insurance, Shriram Life have 2 branches each in Kolkata.
- Edelweiss Tokio Life Insurance operates 1 branch in Kolkata, which is the main point of contact for other offices in the entire eastern India. DHFL Pramerica Life, Aegon Religare Life, PNB MetLife India Insurance, IDBI Federal Life, Tata AIA Life and Bharti AXA Life also have 1 office each in Kolkata.
Kolkata is a large and densely populated city. Navigating through traffic and dealing with long procedures and extensive paperwork is a troublesome task most potential customers try to avoid. By availing insurance online, customers can save time, money and effort besides availing information on various products in the market to make independent, educated choices.
Choose the Right Insurance Plan at BankBazaar
Many insurance companies present the customer with a variety of life insurance options under various categories such as Savings, Retirement, Protection, Child and many more. Given below is how BankBazaar helps customers avail the best life insurance plans to protect against financial adversity.
- Users receive quotes to compare the benefits, premium rates and other terms and conditions of different plans available in the market.
- Eliminates the need for middlemen such as agents and distributors whose commissions inflate customers’ costs.
- Users get a detailed insight into the life insurance policies offered by the various Indian firms.
- No registration needed to view terms and plans of different companies and get recommendations on the basis of a few clicks.
- Dedicated support for users facing any issue while viewing insurance, loan, or any other plans on the website.
Bankbazaar provides the right platform to find and decide on plans, before approaching a client of the company.
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- Endowment Plans
- ULIP Plans
- Money Back Policy
- Whole Life Insurance Plans
- Pension Plans
- Life Insurance for Child
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