Major Life and Non-life Insurance Players in India

Life is uncertain and unpredictable. One can only have a proactive measure in place to deal with unpleasant situations. Hence, the concept of ‘insurance’ was introduced with a motive to mitigate the risk and to provide protection. Insurance is the primary way of managing life risk.

There are various types of insurance policies available today to protect your loved ones and the things you love. In a life insurance policy, Insurance indemnifies to pay the insured person’s family a certain sum of money in the event of insured’s demise. When it comes to choosing the right insurance plan, you are spoilt with choices as there are various insurance players in the market offering plenty of unique plans.

In India, there are 24 life insurance companies operating which have been approved and recognised by IRDAI (Insurance Regulatory and Development Authority in India), which is a regulatory body for insurance and reinsurance industries.

The insurance industry of India has 57 insurance companies – 24 are in the life insurance business, while 33 are non-life insurers. Among the life insurers, Life Insurance Corporation (LIC) is the sole public sector company. There are six public sector insurers in the non-life insurance segment. In addition to these.

The following are the major life and nonlife insurance players in India as approved by the Insurance Regulatory and Development Authority of India (IRDAI).

Major Life Insurers

Life Insurance Corporation (LIC)

Max Life Insurance Company

HDFC Life Insurance Company

ICICI Prudential Life Insurance

Tata AIA Life Insurance Company

Bharti AXA Life Insurance Company

Bajaj Allianz Life Insurance Company

SBI Life Insurance Company

Reliance Nippon Life Insurance Company

AEGON Life Insurance Company

Aviva Life Insurance Company

Birla Sun Life Insurance Company

Kotak Life Insurance Company

PNB MetLife Insurance Company

Canara HSBC OBC Life Insurance Company

Major Non-Life Insurers

Agriculture Insurance Co. of India Ltd.

Bajaj Allianz General Insurance Co. Ltd.

Bharti Axa General Insurance Co. Ltd.

Cholamandalam MS General Insurance Co. Ltd.

Manipal Cigna Health Insurance Co. Ltd.

Export Credit Guarantee Corporation of India Ltd.

Future Generali India Insurance Co.

HDFC ERGO General Insurance Co.

ICICI Lombard General Insurance Co. Ltd.

IFFCO Tokio General Insurance Co. Ltd.

L&T General Insurance Co. Ltd.

Liberty Videocon General Insurance Co. Ltd.

Magma HDI General Insurance Co. Ltd.

Max Bupa Health Insurance Co. Ltd.

National Insurance Co. Ltd. Read More…

What is needed to live life?

As we talk about need, then there are four basic needs that one required i.e Food to eat, air to breath, water to drink and shelter to live in. Our needs are very limited but wants are very high.

Of these, water and air have been gifted to us by nature without any value. But these days, there is scarcity of water and also polluted. So we have to buy it. Apart from these, the main problem is to arrange food and a shelter. Due to economic inequality and unemployment, most people suffer from this problem throughout their life.

Quality of life reflects the general condition of individuals and societies, which underline the negative and positive characteristics of life. It looks at the satisfaction of life including everything from physical health, family, education, employment, money, religious belief, finance and environment.

A good life requires that you love to your work. Do the same to other people, treat yourself well, keep moving forward, do the things you want, keep smiling. Introspect yourself and you will be able to enjoy every single day in the end. Read More…

Why resources are important for sustenance of life?

In this universe, earth is only the planet where life sustaining elements i.e. Land, Air and Water are present. Life exists because of these resources available on Earth. It creates a balance between living and non-living resources and sustaining both. The three basic and most important non-renewable resources for us are: – the air we breathe, the water we drink and the land on which we live. Without these three resources, our existence cannot be possible.

Air

Air is a mixture of gases which is composed of nitrogen, oxygen and very small amounts of water vapor and other gases. Oxygen in the air is essential for all living beings because we use this oxygen to produce energy from the food we eat. The carbon dioxide from which we exhale is essential for the plants to take energy from the sun and convert it into food. Wind regulates the temperature of the Earth and causes different patterns of weather.

Water:

Water is required in all life on the planet because all chemical reactions that occur in living cells use water as a medium. Water is found in large bodies such as seas, seas, rivers and lakes. It is also found as vapor in the atmosphere and as a solid in ice, glaciers and ice shelves. Only small amounts of this natural resource are available in rivers and lakes. Thus water is essential for us not only for digestion of food but also for cooking as well as production of food grains and vegetables. 

Soil:

Earth is the base of life because it contains minerals useful for life. Most of these minerals are found in rocks, which cannot be used by plants or animals. Soil is formed by the breakdown of rocks by various geological, climatic and biological processes. The soil contains minerals like iron, zinc, nitrogen compounds, which are necessary for sustaining life. It also contains water and provides for the use of plants. We can extract metals like iron, copper, gold and aluminum from the soil. Read More…

Some changes are happening in our daily life

Due to modernization in our human life, we can easily see many differences that are happening in our daily lifestyle. Which are continuously spreading due to Kovid-19. First of all, digital devices had become a part of our daily lives. There seems to be no life without them. At every stage of life we depend on digital devices.

Power usage has increased due to digital devices, as all digital devices require electricity to operate. To enhance our amenities, we are cleaning the green vegetation to keep people accommodated, resulting in increased pollution. We are only obliged to survive in a polluted environment because of us. Thus there is an increase in temperature due to global warming and a decrease in manual efforts.

We all depend on machines, even many of us use cars or motorcycles to go to the gym, then what is the use of exercise. It is better to go for a walk for half an hour instead. There is a decrease of the social activeness due to increase of the artificial technological efforts and digital activeness. The most important factor is we had left our traditional food and increased the use of the modern junk food. Read More…

WhatsApp Shopping: A Change

Changes are being made to WhatsApp by adding a new shopping button, which will make it easier for customers to search the list of businesses. It will be easy for customers to know which goods or services are offered by which particular business. With this help, it will be easier for businesses to search for their products and this can help in increasing sales.

With the new WhatsApp feature, users will now see a shopping button next to the profile of the business account. The button looks like a store icon. Pressing the shopping button will open the catalog and users will be able to select items according to their needs. The payments service is based on UPI and will allow for direct bank transfer payments from WhatsApp itself.

How it will work:

Go to any business account on WhatsApp. If the seller has uploaded a catalog to their business account, the user will see a shop symbol just next to the account name.

Pressing it will open the catalog and show the products that are available by trade. You can browse the catalog and see pictures of each product. If you like a product, press the message business button below the picture and you can get information about that particular product. Read More…