When searching for life insurance it is important to know that you are working with one of the best life insurance companies. Not only can you be reassured that, were the worst to happen, that company will pay out but that your loved ones will not have to jump through multiple hoops trying to receive the death benefit.
There are over 6,000 different life insurance companies out there, and all of them have various products and rates. If you’re shopping around for life insurance coverage, you can quickly become overwhelmed. Luckily, we’ve done some of the work for you.
We keep a running list based off of several criteria which allows us to make a good judgment on which insurance providers are the top life insurance companies. In our top 10 we do not designate which ones are the absolute best because there is a little bit of subjectivity so we will just present you with the best life insurance companies in alphabetical order.
As a part of the AIG group, American General has some of the strongest financial backing in the world. An ‘A’ rating from A.M. Best and a very good customer service record lands them firmly on our top 10 life insurance companies list.
Banner is frequently one of the least expensive policies we see when running term life insurance quotes. With an A+ rating from A.M. Best they also can back up any policy that is issued.
One of the factors which makes Banner Life stand out is their insurance rates for applicants who are not in the best health. In most cases, they tend to give the most affordable rates for people with pre-existing conditions or who are in poor overall health.
With an A rating and a huge customer base Genworth is frequently one of the top life insurance companies mentioned. This company is also super aggressive in their rating practices so we frequently seem them as one of the best life insurance companies for price as well.
Through the years, Genworth has seen a lot of changes as a company, but they continue to offer excellent life insurance coverage. They tend to be one of the best companies for a lot of applicants. One area they shine is for life insurance for people who are overweight.
Lincoln has long been great at providing a multitude of financial services. They have received an A+ rating for financial health and have been a mainstay on our list.
One interesting part of Lincoln Financial is their TermAccel plans. These are their no exam policies, which allows you to get coverage anywhere from $100,000 to $500,000 for ages up to 50. Compared to a lot of other no exam policies, this is drastically more coverage. If you’re looking for a no exam policy, Lincoln is an excellent place to start your search.
Metlife established Brighthouse Financial in 2017 to sell life insurance, while traditional Metlife handles the employee benefits. With an extremely strong financial rating of A+ from A.M. Best, MetLife is a great company to do business with. Besides, who doesn’t want to at least talk to the company that has Snoopy as a mascot?
Aside from having Snoopy, Metlife (Brighthouse Financial) excels in life insurance for applicant with type 1 and type 2 diabetes. Most insurance companies will automatically decline applicants with type 1, but Metlife continues to give affordable insurance protection.
One of the most well know life insurance companies across the country, New York Life not only sports a popular name but also has an A++ rating from A.M. Best. No list of top life insurance companies is complete without NY Life on it.
New York Life offers two main type of term life insurance policies. They have the traditional level-premium insurance plan, which you can purchase anywhere from 10 years to 20 years.
The other type of term life insurance is the yearly convertible term insurance plan. This policy can be renewed every year without having to offer any health information.
Receiving the top financial rating of A++ from A.M. Best is a big deal. With that kind of financial stability and a top level customer service record, Northwestern Mutual has set itself firmly in our list of best life insurance companies.
As a company, they have been around since 1872, which means they are no new to the insurance market. In fact, they are one of the oldest insurance companies out there.
Not only have they been around for more than 100 years, they also in disability insurance. Adding disability insurance coverage to life insurance plans can be an excellent option, and Northwestern excels in this area.
Originally formed in Des Moines, IA in 1879, Principal offers a wide range of insurance options. With an A+ rating from A.M. Best and over 19 million customers it is easy to see they have a strong financial base and customer service record.
If you want to get life insurance at an affordable rate, but you want to get it fast, then Principal’s accelerated underwriting is perfect for you. With this program, you can get approved for preferred rating in less than 48 hours. With a traditional insurance plan, you could wait a month and a half to get protection, but if you don’t want to wait, the accelerated underwriting plan is a good choice.
With some of the most aggressive underwriting, Prudential is great at providing low cost life insurance coverage to people who have been rejected by other companies. An A+ rating also makes them not only one of the best life insurance companies but also one of the most sound and largest in the country.
There are plenty of niche groups where Prudential tends to offer the lowest rates. IF you’re an applicant with asthma, Hep C, atrial fibrillation, and much more, Prudential is probably going to be the best choice. They also are one of the best companies for any non-United States residents who are working in the U.S.
When it comes to term life insurance policies, Transamerica is always competitive. As with all the companies on our list they have a very strong financial rating from A.M. Best with an A+. Having been around since the 1800’s also give you comfort that they will continue to be one of the top life insurance companies.
If you’re an older person looking for life insurance, you might be worried about how much you’re going to pay for your plan, but don’t worry. There are plenty of companies who give cheap life insurance for older applicants, and Transamerica is one of those companies.
When we look at our list of best life insurance companies each year we take several criteria into account. The first and most important is financial stability. While we only mention A.M. Best ratings in our list above we also take into account the ratings from Moody’s, Standard & Poor’s, and Fitch. Each of these ratings agencies gives us a good idea of just how strong a company is. In order to make the list of the top life insurance companies the companies above had to rate well in all four.
Second we look at ratings for customer service across our industry. As an independent agent we work with almost 100 life insurance companies across the country. We also speak with and train with other agencies. After a while you get good information on who is doing the best job of service customers.
Finally, we work off of personal experience. If our clients have been consistently happy with a company then they get bonus points for how we as an agency, and our clients, have been treated.
If you are ready to get started with life insurance quotes from the best life insurance companies use the form on the side of this page or give us a call at 888-229-7522 to get started.