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Life Insurance Plans in Mumbai

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

Having a life insurance policy is necessary to create a safety net for your family members and other dependents in case of emergencies. Mumbai, the financial capital of India, boasts a well-established insurance sector. Some of the largest insurance firms in the country are based out of the city. Mumbai records the highest amount of insurance premium collection and highest number of claims made in the country.

Top 10 Life Insurance Companies in Mumbai

A total of 24 life insurers operate in India. Maharashtra is by far the largest source of insurance premiums in the country. Almost one-third of overall premiums collected in the country were from Maharashtra, a large chunk of which came out of Mumbai.

All of the life insurance companies operating in India have offices in Mumbai. Some of the largest life insurance companies have their head offices situated in Mumbai e.g. Birla Sun Life Insurance, HDFC Standard Life Insurance, ICICI Prudential Life Insurance, Kotak Mahindra Life Insurance, SBI Life Insurance, Tata AIA Life Insurance, Reliance Life Insurance, and Bharti AXA Life Insurance among others. The top companies in Mumbai are:

  1. LIC has 4 LIC Customer Zones in Mumbai apart from numerous offices located around the city, and the company also houses its head office here. LIC of India is the biggest player in the Indian insurance sector, and is also the top earner in Mumbai.

  2. ICICI Prudential is the largest private firm in the Indian insurance market. Also headquartered in Mumbai, there are 16 branches of the company in the city. With its wide array of products, ICICI Prudential is a good option.

  3. Max Life is another great option for residents of Mumbai. The company has a significant presence with 16 branches.

  4. HDFC Standard Life Insurance operates 12 branches in and around Mumbai, and also has its head office here. HDFC Standard is among the top 5 insurance firms in terms of premium collection in the country.

  5. SBI Life Insurance is another major insurance provider with 8 branches throughout Mumbai. It is the second largest public insurance firm, and is also among the top 10 insurance companies in India.

  6. Birla Sun Life is the insurance arm of the Aditya Birla business conglomerate. Birla Sun Life Insurance also operates 12 branches in Mumbai.

  7. Reliance Life is the insurance arm of Reliance Industries. There are 11 Reliance Life branches located in Mumbai including the company's head office.

  8. Kotak Life Insurance is based out of Mumbai, and is among the top 10 firms here. At present there are 9 offices of Kotak Life located throughout Mumbai.

  9. With an agency force in excess of 75,000, Shriram Group is among the larger private sector firms, and operates in the insurance sector through its arm Shriram Life Insurance. The company has a strong presence in Mumbai with 10 branches.

  10. Bajaj Allianz also operates 10 branches in Mumbai. It is a joint venture between Bajaj FinServ and Allianz group. The company offers a range of policies and interest rates for all types of clients.

Apart from the firms given above, Mumbai is also home to almost all the major insurance providers with significant number of offices. Edelweiss Tokio Life and Bharti AXA Life both have 7 branches in Mumbai, followed by IDBI Federal Life, PNB MetLife India Insurance, and Aviva Life Insurance operating 5 offices each in the city.

Customers in Mumbai can obtain life insurance from any of these companies. Almost all the insurance firms offer their prospects the opportunity to enroll online as well as pay their premiums from the comfort of their homes.

Life Insurance at BankBazaar

The easiest way to buy life insurance is at BankBazaar which features all insurance companies and their products on a single online platform.

Here, users can identify providers of life assurance products and features of all their plans. Users can compare life insurance policies, receive immediate quotes and buy policies of choice. WIth all these services offered at no cost to the user, customers stand to save time and money through a simplified online process.

Life Insurance Mumbai Reviews

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  • LIC Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    Based on the benefits and returns i have chosen this life insurance corporation of India . I am satisfied with the amount which am making for the policy . Am making the payment yearly through online with tenure period of 20 years . This policy cover accidental benefits and critical illness benefits . Overall am happy with it.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jan 18, 2019
  • LIC Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been holding my life insurance with Life insurance corporation of India, i took my life insurance as the agent of that and he had suggested me good policy explain me well about the coverage and the premium amount they have charged me was nominal they have given me up to 3,000 , it is in monthly basis, and the premium amount gets auto debited from my account.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jan 17, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    I have been holding a life insurance policy with Life Insurance Corporation of India. Bought my insurance policy many years ago. Total tenure period of the policy is 25 years. This is tax benefit policy. I have been making the premium through ECS.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jan 08, 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, the agent had explain me about the policy coverage,and about plan benefits clearly, and the premium amount they have charged me on yearly basis, and they have charged me up to 14,000 it is nominal , and i use to pay the premium amount through on line.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jan 08, 2019
  • LIC Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been using life insurance with Life insurance corporation of India, there service is good, and the premium amount they have charged me up to 7000 per months, it was nominal ,i use to pay on monthly basis ,and it use to get auto debited from my account,overall service is good.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jan 06, 2019
  • Indiafirst Life Insurance
    "Best Policy"
    0.5 4.0/5 "Great!"
    My employer has provided me a life insurance policy with India First. My employer is paying the premium amount behalf of me. Total tenure period of the policy is 60 years. The sum assured amount of the policy is Rs. 1 Crore. They have been paying the premium amount of Rs. 8000 annually. This is a tax benefitable policy.
    Was this review helpful? 1
    , mumbai
    Reviewed on Jan 03, 2019
  • Aegon Life Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been using life insurance with AEGON Life insurance , and there service is good, there agent had explained me clearly about the policy and coverage ,and there premium amount they have charged me was nominal, and i pay on yearly basis, and it use to get auto debited from my account.
    Was this review helpful? 0
    , mumbai
    Reviewed on Dec 30, 2018
  • LIC Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have a life insurance policy with the LIC. I have been using their services for a while. It is too easy to make payments and never faced any issues with the policy so far. Being a government company the security for your investment is certainly there with the LIC and it is a recommendable insurance provider.
    Was this review helpful? 0
    , mumbai
    Reviewed on Dec 30, 2018
  • Max Life Insurance
    "They are good in market"
    0.5 2.0/5 "Expected more"
    I have purchased a life insurance policy in 2012 from Max life. Because of my boss recommendation and reputation of the company, i find the claim ratio was very good hence i chosen same. Max life premium is slight costlier than other. The customers are completely satisfied with their services. They have class set of policies according the premium amount.
    Was this review helpful? 1
    , mumbai
    Reviewed on Dec 29, 2018
  • ICICI Prudential Life Insurance
    "One must have some term plan"
    0.5 5.0/5 "Blown Away!"
    Their application process was so fantastic. The documentation was fine and i have done everything through online. Since because of the brand value, i have selected the ICICI prudential for my term insurance. The claim ratio is very high which is98.3%. I have selected the premium is a accelerated one. First I have to pay the premium upto 10 years and it will cover next 34 years. I have selected the coverage value of Rs. 1 Cr upto 65 years. I pay the premium amount of Rs. 2311.
    Was this review helpful? 1
    , mumbai
    Reviewed on Dec 29, 2018
  • LIC Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been using my life insurance with Life insurance corporation of India from past 6-7 years, and the agent had clearly explain me about the policy benefit and plan coverage, the premium amount they have charged me was nominal , they have charged me premium amount on monthly basis, and they use to get auto debited from my account.
    Was this review helpful? 1
    , mumbai
    Reviewed on Dec 27, 2018
  • Reliance Life Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been using my life insurance with Reliance Nippon life insurance, there is best company, from three months, there service is good, the premium i use to pay in year, and there is advance technology, and there is wide branches up to 700 in India itself,there service is good, it use to get auto debit from my account.
    Was this review helpful? 0
    , mumbai
    Reviewed on Dec 27, 2018
  • Future Generali Life Life Insurance
    "Good investment plan"
    0.5 4.0/5 "Great!"
    Recently i have got a call from Future Generali and they were not given proper services to the customer but i have not contacted their call centre people. The benefits given to customer has taken by the agents. I have purchased the policy 3 years before and i pay the premium for a three years. I can do the payment through online. I took some investment plan and they have promised the sum assured amount of Rs. 15 lakhs.
    Was this review helpful? 0
    , mumbai
    Reviewed on Dec 24, 2018
  • Max Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    The process is very good with the MAX LIFE INSURANCE as i have purchased the life insurance policy with this and also at the beginning the documentation is very good. The maturity period is for 30 years as the premium i pay for monthly once. This give the policy coverage for self.
    Was this review helpful? 0
    , mumbai
    Reviewed on Dec 22, 2018
  • LIC Life Insurance
    "Good policy"
    0.5 4.0/5 "Great!"
    I have purchased a life insurance policy in my wife's name. 5 years back i have bought the Jeevan saral policy with Life Insurance Corporation of India. Since its a better company, i have selected the LIC. I pay the premium amount of Rs. 5400. Its a long term policy. I have selected the annual payment mode.
    Was this review helpful? 0
    , mumbai
    Reviewed on Dec 13, 2018
  • LIC Life Insurance
    "Best Policy"
    0.5 5.0/5 "Blown Away!"
    I have taken Jeevan anand policy from the life insurance corporation of India . It has coverage of accidental and critical illness benefits . Am satisfied with the premium amount which am making yearly , I make the payment through online banking . I have chosen this policy based on the benefits and features . Overall am satisfied with this policy .
    Was this review helpful? 0
    , mumbai
    Reviewed on Dec 12, 2018
  • HDFC Life Life Insurance
    "Yet to experience the policy"
    0.5 4.0/5 "Great!"
    I have purchased a ULIP policy from HDFC Life. 4 months before i have taken this policy. I have been paying the premium amount of Rs. 2000 every month. The sum assured amount is 5 lakhs. This is a tax benefitable policy. Through Internet i have purchased this policy. I make the payment in online by using the debit card.
    Was this review helpful? 0
    , mumbai
    Reviewed on Dec 11, 2018
  • LIC Life Insurance
    "Jeevan ke saath be and Jeevan ke baath be"
    0.5 2.5/5 "Just OK"
    Total tenure period of the policy is longer one. I would have opted for short period of time. The explanation procedure of the policy was not happened when i purchased the life insurance policy with LIC. I never been contacted the LIC customer care. I have taken the policy 10 years before. Total tenure period of the policy is 20 years. I have been paying the premium amount of Rs. 11500 per annum. The sum assured amount is Rs. 2 lakhs.
    Was this review helpful? 0
    , mumbai
    Reviewed on Dec 11, 2018
  • LIC Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been holding my life insurance with Life insurance corporation of India, i took my life insurance with my friend as he is the agent of that and he had suggested me good policy explain me well about the coverage and the premium amount they have charged me was nominal they have given me up to 25,000 , i use to pay to my friend the premium amount.
    Was this review helpful? 0
    , mumbai
    Reviewed on Dec 10, 2018
  • LIC Life Insurance
    "Good Children Plan"
    0.5 5.0/5 "Blown Away!"
    I don't find they are not active in queries but its a good insurance company, I feel safe, I make the premium around Rs. 4000 for the tenure of 15 years, I get the benefit when children enter certain age they will provide. Its a child plan its good for everything.
    Was this review helpful? 0
    , mumbai
    Reviewed on Dec 09, 2018
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