Life Insurance Companies
Life insurance is a great way to financially protect your family in the event of a death. The best life insurance companies can help you secure enough coverage to offset your income, settle debts, or cover expenses your family will face such as paying for your children’s education or caring for elderly parents.
1. Prudential
Why did we choose it
Prudential was named Best Life Insurance Company overall based on the company’s history dating back to 1873, the wide range of policies available, and excellent ratings of financial strength.
Pros
- Get an instant quote for the life insurance online
- Excellent Financial Strength Ratings
- Multiple riders can be added to your document
Cons
- No online quote needed for the permanent life insurance coverage
Abstract
Prudential Financial’s history dates back to 1873, which bodes well for its reliability. The US Prudential Insurance Company also boasts an A+ rating with AM Best, as well as an AA- rating with Standard & Poor’s for its financial strength.2
Prudential offers coverage for Long Term Life, Universal Life, Indexed Universal Life, and Variable Comprehensive Life, and you can add passengers to your policy that include accidental death benefits, living needs benefits and a child protection passenger.
2. State Farm
Why did we choose it
We chose State Farm as the best company for instant issue policies based on the fact that you can apply online and get lifetime coverage without a medical exam or any jump-through. Excellent reviews and a long history of State Farm also helped it earn a place in our rating.
Pros
- State Farm extends some terminology policies without a medical exam
- Free Online Life Insurance Quotes
- Excellent in ratings for the financial strength and customer satisfaction
Cons
- There is no life insurance offered in Massachusetts
Abstract
State Farm is the another insurance company with a long and a storied history. Founded in the 1922 by a retired farmer, the State Farm has grown from the humble beginnings to offer a wide range of insurance products today. Currently, State Farm is ranked 39 on the Fortune 500 list of largest companies.4 This company also features an A++ financial strength rating from AM Best, the highest rating possible.
Also note that State Farm received the highest rating in the US JD Power 2020 Life Insurance Study, which compared the experiences of life insurance and premium customers nationwide.
When it comes to the life insurance products they offer, State Farm allows consumers to purchase life insurance coverage, whole life insurance, and comprehensive life insurance. State Farm also makes it easy to enter your information and get a free online quote for life.
State Farm extends life insurance coverage with Instant Answers that you can apply for online, and these policies can be purchased without a medical exam. However, you must answer the health questions in your application.
3. Across America
Why did we choose it
Across America offers life insurance coverage that is very affordable and has a long history of financial strength and reliability, helping the company stand out as the best value life insurance in our review.
Pros
- Life insurance premiums are a great value
- Strong Financial Strength Ratings
Cons
- You need to speak with an agent to get a quote for some products
Abstract
This company has been around since 1904 and has solid financial strength ratings, including an A rating with AM Best and an A+ rating with S&P Global. Transamerica scored 78 well below average in the JD Power 2020 American Life Insurance Study. However, with only 734 points out of a possible 1,000.
Transamerica also offers a wide range of life insurance coverage including term policies, comprehensive life, universal life, comprehensive life and terminal life insurance.
4. Northwestern Mutual
Why did we choose it
While Northwestern Mutual is generally known for quality, whole life insurance policies are especially popular. The company has paid out a record $6.2 billion in dividends to policyholders for 2020. Not only do their policies tend to pay out generous cash dividends. But you can also benefit from working with a financial advisor. Who can help guide you on the best all- or another type of insurance policy for The life that suits you.
Pros
- Excellent ratings for quality and financial strength
- Offer life insurance, whole life and comprehensive life insurance
Cons
- Should work with a financial advisor to get a quote
Abstract
Northwestern Mutual has been in business since 1857, and has strong reviews demonstrating its commitment to providing quality products and services. Northwestern Mutual not only boasts an A++ rating from AM Best and an AA+ rating from S&P Global, but also high customer satisfaction scores in J.D.
Northwestern Mutual offers life insurance coverage, full life insurance coverage, and comprehensive life insurance coverage. However, due to the fact that they hire financial advisors who oversee your full financial picture. You will need a full financial review to get a quote.
This means that you will need to work with a financial advisor at Northwestern Mutual and provide more information about your finances and life. This can be a huge benefit if you need some help with overall financial planning and want to make your entire life insurance a part of your overall financial picture.
