Best Life Insurance Company in India for Agents

The Financial investment scenario on individual basis in India has evolved dramatically in the last couple of decades. People have opened up to the idea of securing the lives of their dependents in an unfortunate event of their untimely demise. This has brought a boom in the Life Insurance sector in the country.

While earlier the only insurance providing name which would crop up in the minds of people would be LIC (Life Insurance Corporation of India); today a plethora of options are available at the disposal of insurance seeking people. This has not only resulted in healthy competition in the field but has also broken up new scope of career, in the role of Life Insurance Agents.

While earlier, being a Life Insurance Agent was considered just another part-time money making option; today it has blown into a full-fledged career options with professional trainings and examinations. However, the sheer presence of so many options in the field has also given rise to the confusion of which Life Insurance Company to opt for while choosing to become an insurance agent.

So, let’s go through some of the Best available options of Life Insurance Companies in India today for being an insurance agent.

• Life Insurance Corporation of India – LIC has still maintained its position of behemoth in this field and has the most competent insurance policies which attracts people across different socio-economic domains. Hence, the scope of LIC agents to find potential insurance seekers is always pretty high. This reflects from the fact that it has beyond 12 million insurance policy holders and more than 9 lakh insurance agents. While it is the only state controlled insurance company and exists since 1956, LIC has remained up to date with introduction of computers way back in 1964. It is a testimony to the trust people put in LIC that it has hitherto processed more than 120 million policies and still has the best claim settlement ratio at 98%.

• ICICI Prudential Life Insurance – This was the first entrant in the insurance field from the private sector and still holds a promising growth prospect even after the explosion of presence of multiple insurance companies in the field. It was also one of first names to receive the AAA National Financial Strength rating from Fitch and its relevance for being one of the most desirable options to become an insurance agent reflects from the fact that hitherto it has been voted thrice on the trot as the most trusted life insurer brand from the private sector. A settlement ratio of 96% plays a major role in building the trust of people in its policies.

• SBI Life Insurance – While the name does not reflect its parentage, this life insurance company is actually a joint venture between the largest public sector bank in the country, State Bank of India, and a French Banking and Financial Services conglomerate, BNP Paribas. This only provides more credibility to this insurance company as a viable and desirable option to become insurance agent. Largest from the private sector and third most trustworthy insurance brand in the market with a settlement ratio of 95%, SBI Life Insurance sure makes a case for being one of the top choices of becoming an agent.