Trying to find the best life insurance company normally involves looking at customer service, price, and financial strength. Multiple life insurance companies are trying to acquire your business and they all sell the same types of products. That’s why it is a good idea to get life insurance quotes from multiple companies. Using a methodology based on customer satisfaction, financial strength ratings, and complaint ratios from the National Association of Insurance commissioners, here is a look at the best life insurance companies.
Mass Mutual is owned by policy holders who are able to receive dividend payments whenever the company is successful. Mass Mutual speeds up the life insurance application process by using Haven Life and Valora Life. The businesses allow customers to purchase life insurance online within a few minutes. The coverage immediately goes into effect.
Guardian Life offers a full menu of whole, term, universal, and variable life insurance. Guardian Life has a new Index Participation Feature that lets policy holders link some of their cash value to the 500 Index of Standard & Poor. Guardian Life gives policy holders flexibility. They can choose between variable and fixed loan interest rates.
Northwestern Mutual offers Comp Life, which is permanent life insurance with an optional term added to it. Policy holders can choose the amount of term coverage. Northwestern Mutual has an accelerated care benefit option that lets policy holders use the death benefit to pay for their care. Northwestern Mutual also offers disability insurance policies for part time workers.
State Farm Life
State Farm Life Insurance policies are available for up to 30 years. State Farm does not require a medical exam, but you will be asked to fill out a health questionnaire. State Farm offers universal life, whole life, and variable universal life insurance.
To receive the best rates at Lincoln Financial, applicants should have a normal blood pressure. Applicants should avoid using nicotine within the past few years. Applicants should also have no prior history of alcohol or drug abuse.
Mutual of Omaha
Mutual of Omaha’s policies are normally marketed to help cover funeral and other expenses. Mutual of Omaha offers critical illness, long term case and disability insurance, in addition to Medicare Supplement plans and annuities. No exam is required.
New York Life
New York Life offers a number of different life insurance products and long term care insurance. Most premiums are for 10 years and then increase every year after that. Coverage will cover care in assisted living facilities, nursing homes, and day care centers. Customers can receive a dividend from the company after having a long term care policy for more than 10 years.
Nationwide offers an assortment of life insurance products, including whole life, term life, and variable life insurance. Policies can be converted to permanent life insurance at the end of the term.
Through AXA, every life insurance company has their own regulations regarding whether applications will be priced higher or denied. Applicants should not have a history of DWI or any reckless driving charges. Applicants should also avoid nicotine and substance abuse.
Principal Financial offers unique disability and life insurance policies, as well as mutual funds and annuities. Principal Financial offers group insurance through employers, which includes disability and critical illness. To qualify for the Super Preferred plan, applicants should have a healthy blood pressure.
How To Choose The Best Life Insurance Company For You
Analyze the financial strength of different companies. Financial strength is important for life insurance companies. You want a company that covers you for many years into the future. Financial strength ratings are available through different ratings agencies. Avoid any companies with a rating of B or lower.
Look at different customer satisfaction scores among the companies. The experiences of other customers can help you find out more information about a company so you can make an informed decision. Check to see if there have been any complaints filed against the company within the last few months. You can also look at customer satisfaction scores from an independent ratings firm.
Be aware of the available products that the company is offering. Having an idea about the type of life insurance that you are looking for can help you eliminate a few choices. You will also want to company prices. The cost of coverage is different depending on the particular company that you are researching. Be sure to get a few quotes from at least two or three life insurance companies.