Top 10 Term Insurance Companies in India | Manufacturers & Commercial 2025

Top 10 Term Insurance Companies in India

Key growth factors include increasing financial literacy, growing awareness about life protection, favorable government regulations, and rising adoption of digital platforms for policy purchase and management. Additionally, competitive product offerings, flexible premium options, and value-added benefits are enhancing customer adoption across urban and semi-urban markets.

This report emphasizes the Top 10 Term Insurance Companies in India, as acknowledged through widespread analysis conducted by 6Wresearch internal database. Directed by in-depth market evaluation and industry experts, these leading companies have been known as the primary leaders driving growth and innovation in the India Term Insurance Industry.

List of Leading Companies in the India Term Insurance Market

Below is a comprehensive list of the leading market players driving growth in this sector:

1. Reliance Nippon Life Insurance Company Ltd

Reliance Nippon Life offers competitive term insurance products with a focus on high sum assured options, digital onboarding, and reliable customer service.

2. Life Insurance Corporation of India (LIC)

LIC is India’s largest life insurer, renowned for its wide range of term plans, high claim settlement ratio, and extensive distribution network across the nation.

3. HDFC Life Insurance Company Ltd

HDFC Life offers flexible and customizable term insurance products with options for riders, competitive premiums, and a strong online purchase experience.

4. SBI Life Insurance Company Ltd

SBI Life combines the trust of the State Bank of India with a broad portfolio of term plans, focusing on affordability, coverage flexibility, and customer convenience.

5. ICICI Prudential Life Insurance Company Ltd

ICICI Prudential provides term insurance plans tailored for diverse needs, backed by a strong claim settlement record and robust digital servicing capabilities.

6. Max Life Insurance Company Ltd

Max Life is known for its customer-first approach, offering comprehensive term plans with high coverage amounts, optional add-ons, and transparent claim processes.

7. Bajaj Allianz Life Insurance Company Ltd

Bajaj Allianz offers affordable and innovative term insurance solutions, integrating modern technology for policy servicing and claim management.

8. Tata AIA Life Insurance Company Ltd

Tata AIA blends Tata’s trust with AIA’s global expertise, delivering term plans with extensive coverage options and wellness-linked benefits.

9. PNB MetLife India Insurance Company Ltd

PNB MetLife offers term policies with flexible premium payment modes and riders, catering to both salaried and self-employed individuals.

10. Kotak Mahindra Life Insurance Company Ltd

Kotak Life provides term insurance plans that focus on affordability, ease of purchase, and enhanced coverage benefits for policyholders.

Top 10 Term Insurance Companies in India :FAQs