Life insurance is a safety net for the family of the insured in case of death or illness. The insured gets the sum assured on expiry of a policy term, or in case of death. This is received on the basis of payment of a fixed sum of money to the insurer in the form of premium. Life insurance policies help an individual provide his/her family proper risk coverage.
Pune’s rapid economic progress makes it an attractive destination for talented human resources in India. Owing to this, a large number of life insurance companies providing financial protection and wealth management services have set up shop in Pune.
Out of the 20 life insurance providers in the country, almost all of them have a significant presence in Pune. The city’s highly mobile and educated population has been at the forefront of insurance policy takers in the state as well as the country.
Pune is the second largest source of life insurance premiums in Maharashtra after Mumbai. Maharashtra currently accounts for the largest number of policy takers as well as largest amounts of premium paid in India.
Top Life Insurance Companies in Pune are:
- Bajaj Allianz Life Insuranceis based out of Pune. It is among the top 10 insurance firms in the country in terms of premium collection and policies sold.
- LIC of India, India's leading life insurance provider, has 11 branches in Pune, and accounts for more than 70% of overall life insurance business in India.
- SBI Life is a joint venture of BNP Paribas Assurance and SBI. There are 3 SBI Life Insurance offices in Pune.
- ICICI Prudential Life Insurance operates 4 branches in Pune. ICICI Prudential offers the service of payment of premium online or through standing instruction using credit card.
- HDFC Standard Life is one of the major market leaders in the insurance sector in India. It has 5 branches across Pune.
- Bharti AXA Life has one main office in Pune.
- Max Life Insurance is one of the fastest growing life insurance companies with gross written premiums of Rs.7,279 crore. It has 4 offices across Pune.
- Kotak Life was established in 1985 and since then it has come up with creative solutions to promote financial security. It has 5 operational offices in Pune.
- PNB MetLife India Insurance is a joint venture between MetLife International Holdings, Punjab National Bank Limited, Jammu & Kashmir Bank Limited, and other private investors. It has 3 branches in and around Pune.
There are other life insurance providers in Pune such as :
- Birla Sun Life, Reliance Life, and Aegon Religare having 3 offices in the city of Pune, respectively.
- IDBI Federal and ING Vysya Life both of which have 2 offices of operations in Pune respectively.
- Future Generali and Canara HSBC with one main branch in Pune.
Why use Bankbazaar to buy life insurance?
Traditional methods of buying insurance are fast becoming an arduous and expensive affair for today’s tech-oriented society. Cutting out the middleman to save time and money is now possible for those who wish to make sound, independent decisions when it comes to their finances.
BankBazaar eliminates confusion, dependence and wasted efforts through its simple, affordable solutions.
Bankbazaar is India’s leading online financial services provider, providing insurance customers a unified platform wherein users can simply click through a variety of options to find the best- suited insurance plans for them, presented from across industry and policies. The ease and accessibility with which one can buy insurance policies, helps in giving the best services to clients from a single window. BankBazaar provides an interactive user-interface that allows users to compare and buy products a few simple steps that makes buying life insurance an easy, affordable and enjoyable process.
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