HDFC Life Insurance Company is a privately-owned insurance company, which is also the largest private life insurance provider in the country. It is a joint venture between Standard Life Aberdeen and HDFC Ltd.
Salient features of HDFC Life Insurance
1. It is one of the largest life insurance companies in India, although privately owned.
2. The range of life insurance products offered by HDFC Life is designed to fulfill the requirements of individuals as well as families.
3. The customer experience offered by HDFC Life Insurance is well-appreciated by all.
ICICI Prudential Life Insurance Company Limited is also a private life insurance company, which is also one of the oldest and most established life insurance companies in the country.
Salient features of ICICI Prudential Life Insurance
Here are some of the advantages of choosing ICICI Prudential Life Insurance mentioned below:
Affordable premium rates: The premiums that you have to pay for ICICI Prudential Life Insurance products are much more affordable than its competitors.
Different products: The company comes with a wide range of insurance products for its customers.
Customer service: ICICI Prudential Life Insurance offers excellent customer service. The customers can use the online chat option to know about their policy and even ICICI Prudential Life Insurance policy status.
Here are some of the types of ICICI Prudential Life Insurance Plans:
1. ULIP Plans
2. Retirement Plans
3. Group Plans
4. Health Plans
5. Rider Plans
6. Rural Plans
7. Term Plans
8. Savings Plans
Mentioned herein below are some of the differences between these two insurance companies.
Claim Settlement Ratio: The Claim Settlement Ratio (CSR) of HDFC Life Insurance Company is 99.07% and the CSR of ICICI Prudential Life Insurance is 97.09 %.
Availability of branches: The numbers of branches of HDFC Life Insurance available in the country are 421, while ICICI Prudential Life Insurance has 947 branches.
Premium payment mode: The premium payment mode in HDFC Life Insurance is Yearly/Half-yearly/ Quarterly/ Monthly, and the same is for ICICI Prudential Life Insurance.
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