Several characteristics needs to be focused on when narrowing down your top life insurance companies to choose from:
- Financial Strength
- Type of Company
- Type of Agent
- Level of Service
- 6.Risk Tolerance
There are more than this, but focusing on these will help you get down to 8 or 10 which are most appropriate for you; remember, just because you haven’t yet heard of a life insurance company doesn’t mean they are not great. While some companies might have what you need, it might not be the best solution because of the health rating you’ll get, the level of service you require, or simply, price.
Liberty Mutual is a company that really puts their policy holder’s best interest first. They aren’t concerned about being the cheapest, they are more concerned with helping people put their lives back together when they need it most. There has never been anything funny about tragedies and too many insurance companies try to make it a comedy.
I wonder if Liberty has better uninsured motorist insurance than State Farm does. State Farm’s UMI is a rip-off. Good luck getting them to pay out from it.
Best of the best by all insurance standards. They are especially phenomenal in their home state of Massachusetts. I highly recommend Liberty Mutual – A+
Easy to work with in moving my auto insurance.
AllSTATE INSURANCE COMPANY
Allstate’s insurance plans are by far the most comprehensive and at a fair price. You may be able to find cheaper rates at some of the other insurers, but you get what you pay for, I.E. slower claims, poor customer service, inaccessible agents. After being with 2 other insurers I’m sticking with Allstate.
We love Allstate and were with them for five years and we had two claims with them and our van was fixed in a week and our renters policy claim was pain in a week. Loved our agent, but the price was high for what we had and we had to move on to USA, but we know if we ever need to change it will be Allstate.
I have been an Allstate customer for 14 years with a safe driving record and had a very modest increase of $15 increase for the year, not bad for a 14 year period. I carry their best policy with low deductibles.
Allstate is the best company, no doubt. Just because you have a bad agent doesn’t mean it’s a bad company.
AIA GROUP LIMITED
AIA Group Limited is the best life and general insurance company that I have came across, they’re high on benefits once compared with others, mainly customer satisfaction.
Northwestern has been around for over a century, providing some of the most competitive permanent life insurance products in the entire industry. Backed up by perfect ratings from all four major credit rating agencies, they’re one of just a handful of companies with a perfect Comdex score.
While consumers see higher prices for term life and limited availability of product (sold exclusively through company agents only), these two downfalls are masked by an institution with $220 billion in assets, a long standing history, a stout financial portfolio, and promising future.
You will have access to insurance products, like participating whole life insurance, to full-scale investments to suit every need in your household or business.
NEW YORK LIFE
New York Life is a near match to Northwestern Mutual.
Having been in business nearly 170 years, they are one of the longest standing life insurance companies in America. They, like Northwestern, have top of the charts scores from all four of the rating agencies who review financial institutions, putting them in elite company.
New York Life has a most excellent suite of exclusive products offered from their agents only and expect to pay the price for the extra quality, brand and benefits. They are also the underwriting institution behind the highly acclaimed AARP, one of the most recognized names for senior benefits.
Expect a superior product from this company who has offered dividends for over a century.
Massachusetts Mutual is yet another life insurance company in our top nine to be owned by its policyholders, and not by investors.
One of the larger companies we reviewed coming in over $500 billion in total assets, Mass Mutual has perfect ratings from all major rating agencies, with the exception of Moody’s, putting them among the strongest, financially stable life insurance companies in America.
Another reason Massachusetts Mutual is ranked so high this year is its focus not only insurance, but financial planning. Many carriers have chosen to offer life insurance, but few have made such large strides as Mass in integrating insurance and investments together.
Metropolitan Life also known as MetLife continues to be the largest provider of life insurance in the United States, but this was not enough to put them in the top 3 for the year 2016; simply being the largest life company is not enough.
The largest, most recognized name in life insurance, the Metropolitan Life Insurance Company brand is the giant of the industry. Since the civil war, MetLife has been offering life insurance to fit any budget, any business, or any need. Among these needs, other insurance products from dental to disability are available all under one roof. Although it’s harder to get accepted with MetLife than many other companies, they offer a great lineup of products, including term, universal and whole. The ratings received by all four credit agencies are fantastic and MetLife has secured “A” ratings across the board.
Metropolitan Life also has an affinity to working with those with specials needs, so consider this if it fits your criteria.
Transamerica is a century old life insurance company with a great group of product choices to meet any need.
Nearly famous for it’s prominence in the skyline of San Francisco alone, Bank of America’s purchase of Occidental and it’s re-branding to Transamerica has given the company new life since its inception more than 110 years ago. Today, they host “A” ratings from all four rating agencies.
Transamerica Life offers an excellent variety of life insurance, including term, universal, whole and accident. Outside of their insurance arm, there are additional resources for investments, if you so choose, where Transamerica and their subsidiaries are competitive. Transamerica is also international.
Prudential is a household name, and their industry dominance and niche underwriting has gotten them into our top 10 best life insurance companies list this year.
Extremely successful in several smaller areas of life insurance, Prudential also has leveraged its brand to become a leader in the life insurance industry as a whole. This 140 year old financial institution is a premiere insurer, with ratings of “A” or better from all of the rating agencies. In competition with MetLife for most life insurance sold, Prudential did take home the highest in net premiums, topping $13 billion.
Although there is no whole life availability, Pru does have term, universal and indexed to fill their portfolio of products. Non-life insurance options include accident, critical illness, disability, and more.
Prudential has exceptional underwriting for smokers.