When you buy life insurance, you may be more concerned with the policy than the Life insurance companies.
But choosing the best life insurance company for your needs is as important as choosing the right policy.
The best life insurance companies are affordable, have solid financial stability, are highly rated by consumer and financial institutions, guarantee they will pay the death benefits,
And provide the features and services you need to build a financial safety net.
Key conclusion: The best company will depend on the life insurance product you want to buy.
Life insurance companies have their own strengths and weaknesses.
Searching for the best life insurance company could take you a lot of hours
Searching for financial strength ratings, customer service ratings, and reviews, and comparing thousands of prices.
We know this because we have done it for you.
After reviewing over 100 of the top life insurance companies in the USA, these are the results.
The best life insurance companies in the USA change every year.
Life insurance plans have a variety of plans depending on your needs, physical health, and resources.
Because of this, the best life insurance company for your situation can be difficult to identify without first making comparisons.
Today you will learn how to qualify life insurance companies. Below, we’ll show you the best life insurance companies for 2020.
We’ve researched dozens of companies, and you won’t find a better list.
FIRST, The Best Life Insurance Companies 2020
When selecting a life insurance policy, you must ensure that you get coverage at a competitive price
And also offered by a life insurance company with a strong financial position and reputable customer service and claims handling.
To make things easier for you, we have ranked the best life insurance companies,
Taking into account each insurer’s financial position with credit bureaus like A.M. Best, customer service and claims ratings with JD Power, and how much coverage is paying.
The article below analyzes the main insurers with the respective ratings of A.M. Best, J.D. Power, and Insurancelatino’s full-scale company ratings.
This list is not in a particular arrangement.
Although these ratings are important when choosing a life insurance company to trust in the protection of your family,
The coverage you will actually get will vary depending on your individual circumstance.
Life insurance companies comprehensively analyze each application, evaluating your medical history, family history, career, and more.
You’re not sure where to start?
We have done some of the heavy liftings for you.
See our reviews of the best life insurance companies for each individual situation:
The Best Companies For Term Life Insurance
Term life assurance lasts for a set of years, referred to as the term.
If you die during the term, your beneficiaries will receive the policy death benefit.
For most people, the best term life insurance company is the most affordable.
Below are examples of quotes for a healthy man applying for a $ 750,000 20-year term life insurance policy at ages 25, 35, and 45.
Examples of quotes. Actual costs will vary.
THE TOP 10 LIFE INSURANCE COMPANIES IN THE UNITED STATES
- Protective Life
- Banner Life
- American national
- Foresters Financial
- National Life Group
- Mutual of Omaha
- North American
How can you be so sure of choosing the best life insurance company for you and your family?
Just because they are highly rated insurers with a strong brand,
How can you be so sure that it really is the best life insurance policy for you?
We will try to help you make your decision (or at least simplify)
So, you are only working with the best life insurance providers in the United States.
1. PROTECTIVE LIFE
Making a big jump on our list of the best life insurance companies at number one is Protective,
A company that many have yet to hear about.
Despite this, they have a dominant position in more than one sector of the life insurance industry.
For more than a century, Protective Life has lived up to its name in protecting homes and businesses across the United States.
With more than 5 subsidiaries, an international presence, four separate “A” ratings,
And a large number of policyholders, Protective is making an important mark for the first time.
You will have your choice of universal or universal variable term life insurance,
Where Protective is extremely competitive in price.
Especially with its universal products, Protective is one of the few companies that offers permanent insurance for all levels of fully underwritten life insurance.
If you are considering permanent coverage, such as for estate planning, Protective should be among your top considerations.
2. AMERICAN GENERAL
American General, which is also called AIG
It is a highly reputable company, with “A” or better ratings across the board and a century-old name behind the rankings.
With a strong presence in the market, they have an exceptionally wide range of universal and indexed products.
While we love variety, they can be a bit complex for the average person, so we highly recommend working with an expert agent before buying.
Subscription is very fair, although it may take a little time, and you can expect a very fair price from AIG.
They’ve risen to our top 10 this year due to product selection, financial strength, and prices that rival the elite.
See our full review of the American General here.
3. Banner Life
If you simply want the most affordable term life insurance coverage, Banner Life is your company.
They’re not that good when it comes to speed, compared to some of the instant issue products on the market, more than making up for it with lower-cost term life insurance coverage.
Some of the cheapest on the market!
Banner products also come with a host of added benefits, convertibility options, and an unsurpassed sub-standard subscription style.
If you are part of the 95% of the world that does not have perfect health, you probably will not find a more affordable term life insurance policy than with Banner.
See our full review of Banner Life here.
4. AMERICAN NATIONAL (ANICO)
American National is a highly rated company, obtaining excellent ratings from A.M.
Best and Standard & Poor’s, two of the most reputable rating agencies in the United States.
With an “A” of both, this represents ANICO as financially sound, paying its claims and looking positive for years to come.
What really helps distinguish them is their robust life benefits that are included with their life insurance policies at no additional cost.
American National has a wide range of products to help meet the different needs of every American.
This helps make American National a one-stop-shop for many.
See our full review of American National here.
5. PRUDENTIAL (PRUCO)
Prudential is a household name, and its industry dominance and niche underwriting have elevated them even further on our top 10 list this year.
Extremely successful in several smaller areas of life insurance,
Prudential has also leveraged its brand to become a leader in the general life insurance industry.
This 140-year-old financial institution is a premier insurer, rated “A” or better from all rating agencies.
In competition with MetLife for the majority of life insurance sold, Prudential took home the highest net premium, exceeding $ 13 billion.
Although they do not offer a full life insurance policy,
Prudential does have term, universal, universal, and indexed life insurance to complete its product portfolio.
Non-life insurance options include accidents, critical illnesses, disability, and more.
And on top of all this, Prudential has an exceptional subscription for smokers.
See our full review of Prudential here.
6. FORESTERS FINANCIAL
When you think of life insurance, Foresters may not be the company that comes to mind first.
However, if you have really delved into the world of life insurance looking for some of the best products in certain niches, you will no doubt have seen the brand of this company.
Foresters is unlike any other company you can buy your life insurance from, at least in the United States.
Started in 1834, they have a historical start possibly dating beyond any other life insurance company.
Today, Foresters continues its non-profit structure, serving members, their families, and friends.
They have a number of financial service assistance programs, including offering life insurance to their members and the community alike.
From person-to-person participation to direct scholarships, Foresters strives to always help people.
While they may not be adequate for your average situation, Forester’s life insurance products are tailored to quite a few areas, term life insurance without a medical exam, full life insurance, and final expense coverage for seniors.
See our full review of Foresters Financial here.
7. NATIONAL LIFE GROUP
National Life has been around for over 170 years and is a leader in the insurance and financial industry.
The type of coverage you are looking for will determine whether or not you should go with them.
If you are looking for a term life insurance policy, they are not competitive.
However, if you need universal life insurance, I suggest that you get a quote from them and compare the rates with the rest.
I like the Lifetime Income Benefit Rider (LIBR) which lets you rule out the fear of living too long by providing you with a tax-free retirement income for the rest of your life.
(Who says I have to die to use my life insurance benefit?)
Finally, life insurance is not a unique puzzle for everyone.
Don’t tackle this yourself, because you won’t save money doing it.
Life insurance prices are set by law.
The rates you get are based on the subscription decision and not if you find a “good deal online.”
Use the form on the right side to run the appointments yourself.
8. MUTUAL OF OMAHA
Mutual of Omaha is one of the largest life insurance companies in the United States and has been for a long time.
Started 106 years ago in 1909, Mutual of Omaha was named Mutual Benefit Health & Accident Association.
They have secured an “A +” from A.M. Best, an “A1” from Moody’s and, finally, an “AA-” from Standard & Poors.
Choosing Mutual of Omaha as your life insurance provider offers you a good variety of life insurance products, including
- Term life insurance
- Universal life insurance
- Indexed universal insurance
- Whole life insurance
Their Mutual of Omaha (United of Omaha) Whole Life Insurance / Burial Insurance coverage product is very competitive
And one of the “best” if not the best in the industry for people looking to cover final expenses or burial costs.
And while your term life insurance isn’t the cheapest, you can complete your portfolio in one place if you choose to have your life insurance from a single provider.
With more than 100 years in business, multiple coverage lines, and a national presence, they can complement their high-performance products.
9. SAGICORE LIFE
Sagicor Life is at the top of the list for one of the oldest life insurance companies in the United States, Sagicor Life Insurance Company is part of Sagicor Financial Corporation, which was originally founded outside of the United States.
It has been rated by A.M. Best, one of the main credit rating agencies, as “A-“, which means that it is in the top quartile of all the companies rated by them.
While you may not have heard of the name, they are one of the best companies that focus on fast enrollment, expedited approval processes, and very competitive rates.
Sagicor Life is among the best life insurance companies in the United States this year for its unexamined life insurance, year after year.
If you want reliable or universal term life insurance without a medical exam, Sagicor is a very good option and should be high on your review list.
See our full review of Sagicor Life here.
10. NORTH AMERICAN
A growing company, North American Life Insurance Company continues to expand its market share in the life insurance industry,
With experience in several different areas. For almost 130 years, North American Life Insurance Company has been a life insurance provider in the United States.
Currently, they have got an “A +” rating from A.M. Best.
They have also earned an “A +” from Standard & Poor’s, as well as an “A +” from Fitch.
They recently sought accreditation with the Better Business Bureau and obtained another “A +” score.
If your needs strictly term life insurance and you want the lowest rates, North America is probably not your first choice.
But if you do have certain health risks, however, they may be more suitable as they tend to be somewhat liberal in their subscription.
Lastly, your cash value growth options within indexed universal life insurance plans are abundant at North American Life Insurance Company,
So, consider them when choosing to make a long-term protection choice.
Overall, this growing company is definitely worth considering for an impaired risk underwriting or permanent life insurance policy.
See our full review of North American here.
THE BEST LIFE INSURANCE COMPANIES BY CATEGORY OR TYPE OF PRODUCT
As you assess your unique needs, the type of life insurance you need may be different from that of the next person.
There are several hundred life insurance companies available in the US.
The USA, some local and some national.
Because no provider has the best product among all categories, we found it necessary to make the distinction for each specific area of life insurance.
While these are not the only insurers for each type or category of product, they are the ones with the clearest advantages.
To have earned the honor of being the best operator
For any category, greater emphasis was placed on the product, price, and added benefits provided by the company itself, which would enhance the overall buying experience for them.
The utility of a product, its added benefits, convertibility (where applicable), and its availability for various demographic characteristics were highly weighted.
Here are our picks for each area:
Without a doubt in our minds, one of the best term life insurance companies this year is Protective Life,
Which exemplifies what consumers want in affordable term insurance: simplicity, wide availability, and superior prices.
Protective Life has some of the cheapest term life insurance products on the market and includes great riders and convertibility for those looking to add a little oomph to their policy.
When you get a life insurance quote for any long-term product, 10 to 30 years, make sure Protective Life Insurance Company is among your investigations.
If you need help getting quotes from Protective Life, we can help.
The Best Company For Guaranteed Universal Life Insurance
Our top universal life insurance company this year goes to AIG Life, which houses the most comprehensive variety of universal life at virtually unbeatable prices.
With perhaps the most highly customizable universal product, anyone looking for the cheapest possible solution for permanent coverage should look no further than AIG.
When you apply for a universal policy with AIG, you can specify the age at which you want to extend coverage, ranging from 90 to 121.
Universal life insurance is best for those who want permanent coverage but want lower premiums (and slightly fewer guarantees) than a true lifetime product.
Last year’s best overall life insurance company, Foresters Financial, is ranked number one for any consumer looking for comprehensive life insurance and world-class survival life insurance.
The most important considerations that were taken into account were security, guarantees, and growth since they are the pillars of any company that seeks to establish itself as the best life insurance company.
Among other things, a good selection of added benefits, term conversion credits, and dividends make these products second to none.
If you are looking to link your retirement with the same company as your life insurance, Foresters Financial has you covered with a complete set of options.
Mutual of Omaha
The Burial Insurance Option, the leading burial life insurance company, rests with Mutual of Omaha and its permanent tier coverage options.
Although there were close competitors due to the need to compare all burial insurance subtypes (leveled death benefit, gradual death benefit, guaranteed acceptance),
Mutual of Omaha stood out with superior availability for broader demographics, a one-time subscription, and fast.
Their products have many long-term guarantees, and the company behind the product is strong and stable.
Feel secure in purchasing the latest burial insurance policy you’ll need from the Mutual of Omaha product line.
If there was a category where the leader was further separated from the group, it’s our winner for the best life insurance company without exam this year, Sagicor.
The evolution in affordable coverage, without a medical exam, is dominated by Sagicor, which has top honors in virtually every respect, including variety, coverage types, and everyone’s favorite price.
Plus, his prowess includes one of the fastest issuance coverages in the industry.
The highest degree of separation between Sagicor and its closest competitor in this space, Haven Life, offers a broader range of products as well as qualifications.
This is the key for those who are not in impeccable shape, or who want more than just a term.
Life insurance with living benefits is becoming more popular day by day, there is no doubt that more and more life insurance companies are adding these benefits to their products.
American National currently ranks first in this category because of the fantastic life benefits clause (they call it the accelerated benefits clause or ABR),
Plus one of the easiest underwriting processes of any top-rated life insurance company.
You can take advantage of ABRs for chronic diseases if you can’t do two of the six activities of daily living.
These are bathing, continence, dressing, eating, going to the bathroom, and moving.
American National also classifies severe cognitive decline (as Alzheimer’s), a chronic disease that qualifies for these benefits.
The best company for people with pre-existing health problems.
Not everyone is perfectly healthy, and for those seeking affordable, higher-risk coverage, Prudential is easily the best choice and has been for a while.
Prudential, the most aggressive and liberal insurer for coverage in the industry, has unusually relaxed guidelines in the more progressive areas of life insurance.
Where some operators won’t even try to go, Prudential offers traditional coverage with little reserve.
If you have a medical condition or another type of disability, consider looking for Prudential life insurance.
The subscription may take a little longer and be more complete, but you will save on premiums.