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Top Rated Life Insurance Companies

Top Rated Life Insurance Companies

US life and health insurance companies are rated by numerous organizations that study a company’s financial strength and security and rank them based on their analyst ratings. These ratings may reflect the company’s ability to meet the obligations of health and insurance plans it owns and the riskiness of monetary instruments, such as bonds or even securitization products, offered by the company.

Some of the factors that go into determining an insurance provider’s health are a thorough balance sheet study, an assessment of the actual performance of the business operations relative to other companies, and a good analysis of how and who really runs the business. , including shared management philosophies, and written plans for that business operation.

Top Rated Life Insurance Companies

Buying life insurance can help provide financial security for your loved ones, but choosing the right policy can be confusing. There are different types of life insurance.

SL. NoCompany NameAboutRatingsAM BEST RATING
1.Haven LifeBest No Medical Exam Life Insurance4.4 A++
2.New York LifeBest Whole Life Insurance4.1A++
3.ProtectiveBest for Universal Life Insurance5.0A+
4.AIGBest for Recreational Marijuana Use3.9A
5.NationwideBest for Gen X & Millennials3.8A+
6.State FarmBest Whole Life Insurance3.9A++
7.TransamericaBest for Term Life Insurance3.4A
8.Pacific LifeBest for Retirement Planning5.0A+
9.Guardian Life Best Whole Life Insurance 3.2A++
10.John HancockBest for Celebratory Cigar Use3.5A+
List of top 10 top rated life insurance companies

Policies are generally available in all US states, so check to see if they’re available in your state. Since it is an old company, all liquidation issues can be resolved very easily. The company strives to meet the demands of today’s market.

Top Rated Life Insurance Companies
Top Rated Life Insurance Companies

It offers a focused and supportive approach to provide a secure future for all of its clients and caters to all your financial needs as well. The solutions are also backed by excellent personalized customer service. Therefore, it can be a good idea to buy your policy from the American life insurance company.

Haven Life

Haven Life is the best among top rated life insurance companies which offers term life insurance online with a streamlined application process that takes approximately 25 minutes. Qualified applicants age 59 and under can purchase up to $1 million in coverage that begins immediately without the need for a medical exam.

Haven Life policies are underwritten by its parent company, MassMutual, one of the largest life insurers in the US Haven Life does not sell permanent life insurance.

Pros of Haven Life

  • Available online.
  • Sometimes no medical exam facilities provided.
  • Less customer complaints.
  • Best customer service.

Cons Haven Life

  • Term policies can’t be turned into Whole life insurance.
  • Only provide term insurance.

Reviews

Over last few years, Haven Life has filed far fewer complaints with government regulators than would be expected for a company of its size.

Haven Life’s policies are underwritten by its parent company, MassMutual, which not only has a financial strength rating from A.M. Best Rating Services, but also a NAIC Complaint Index of 0.04. A company’s Complaints Index measures the number of complaints against the company relative to its size, with the national median being 1.00.

Products

Haven Life has two term policies:

Haven Term: Haven Terms is available nationwide for customers under the age of 64. You can choose 10, 15, 20, 25 or 30-year terms and purchase up to $3 million in coverage.

Haven Simple: Haven Simple is intended for those who do not want a medical exam. Provides up to $500,000 in coverage if your digital application is approved.

Cost

Year$50,000 policy$100,000 policy$250,000 policy$500,000 policy$1M policy
10-years$6.16$7.87$11.71$17.87$17.76
20-years$7.07$9.09$14.34$22.62$27.67
List of Haven LIfe Cost

New York Life

New York Life offers term policies that expire after a specified period of time and permanent life insurance policies that provide long-term coverage and build cash value over time. Dividends are paid on some of the perpetual life insurance policies. This is the another best company among top rated life insurance companies.

Pros of New York Life

  • Provide term, whole, and universal insurance plans.
  • Multiple riders are available to customize policies.
  • Sometimes build cash values.
  • Few customer complaints.
  • New York Life is only comapny for planning your family’s financial future.

Cons of New York Life

  • Somewhat expensive.
  • Coverage plans are not clearly explained online.
  • The term is available with annual renewal or 10-year and 20-year terms, but there is no 30-year term.

Reviews

New York Life scored 4.5 stars out of 5 for overall performance. For three years, New York Life generated fewer complaints from state regulators than expected for a company of its size. New York Life offers a wide range of life insurance options and ways to customize coverage, but it comes at a high price.

Products

  • Term life insurance: New York Life offers a convertible annual plan with contracted premiums that increase each year but are guaranteed for the first 10 years.
  • Whole life insurance: New York Life has several whole life policies, including one that allows you to customize your payment schedule.
  • Universal life insurance: There are three types of universal policies to choose from, including a basic coverage option where you can customize your premiums and benefit levels.

Cost

AgeAmountPolicyFemaleMale
35$1,000,00020-Year Term$141.41$191.91
45$1,000,00020-Year Term$329.69$460.24
55$1,000,00020-Year Term$747.00$1,070.70
65$1,000,00020-Year Term$1,695.66$2,350.50
List of New York Life Cost

Protective

Protective Universal life insurance policies offer a competitive in-house policy cost for most age groups and health risks, allowing more of your premium to flow into cash value. The company has excelled in bonds and mortgages, which represent underlying cash value, and its illustrations of universal life insurance policies are generally reliable. This company also ranks third or fourth among top rated life insurance companies.

Pros of Protective

  • Compare rates.
  • Cash value policies have low internal costs.
  • Best comapny performance.
  • Policies up to $50 million.
  • Living benefits available.

Cons of Protective

  • Accumulation time of the cash value is very slow.
  • Have to give a medical exam.
  • Final expense insurance is not available.

Reviews

Over last few years, Protective Life Insurance had nearly the expected number of complaints to state regulators for a company its size. Protective Life received 4 out of 5 stars for its overall performance.

Products

  • Protective term life insurance
    Protective Life Insurance offers term life insurance through the Protective Classic Choice product.
  • Whole life insurance
    Protective life insurance is the company’s basic form of perpetual life insurance and provides protective for life.
  • Protective universal life insurance
    Protective offers four universal life insurance policies that provide protection for life.
  • Protective child life insurance
    Protective offers child life insurance through its Protect My Child plan.

Cost

AgeAmountPolicyFemaleMale
35$1,000,00020-Year Term$55$71
45$1,000,00020-Year Term$125.38$163.98
55$1,000,00020-Year Term$285.85$430.29
65$1,000,00020-Year Term$888.88$1385.45
List of Protective Life Cost

AIG

American International Group (AIG) entered the insurance market in 1919. In the US market, AIG sells health insurance, accident insurance and travel insurance. AIG also offers individual life insurance, including term and life insurance. AIG life insurance can be a good option if you’re looking for a company with a variety of product types. AIG is also a renowned company among top rated life insurance companies.

Pros of AIG

  • Inexpensive term life plan coverage.
  • Best financial ratings.
  • No waiting period policies.
  • Living benefits available.

Cons of AIG

  • Online quotes are not available.
  • No term-life coverage without exams.
  • Limited Options for Whole Life insurance.

Reviews

AIG Insurance is not among the top rated life insurance companies when it comes to customer service and customer reviews. AIG received 3 out of 5 stars for overall performance.

Products

AIG products are included term, whole and universal policies.

Some more services included are:

  • Travel insurance.
  • Pensions.
  • Auto, home, yacht and liability insurance and loss prevention services for high net worth customers.
  • Retirement savings services.
  • Complementary accident and health insurance.

Cost

AgeAmountPolicyFemaleMale
35$1,000,00020-Year Term$45.96$62.26
45$1,000,00020-Year Term$106.96$141.11
55$1,000,00020-Year Term$246.46$343.53
65$1,000,00020-Year Term$759.99$1151.51
List of AIG Life Cost

Nationwide

Northwestern Mutual offers a superior combination of high financial strength ratings, good life insurance prices and good access to cash value within life insurance policies.

Nationwide from top rated life insurance companies offers term and perpetual life insurance with moderate premiums and a selection of drivers to complete your protection.

Pros of Nationwide

  • Provide Whole life policy without medical exam.
  • Fewer customer complaints.
  • Diffrent types of options are available for customers.
  • This policy figures have a high level of reliability.

Cons of Nationwide

  • Customer satisfaction could be better,
  • Limited eligibility.
  • Internal policy costs can be be higher than other competitors.

Reviews

Though probably best known for auto insurance, Nationwide offers many types of insurance and financial products. If you prefer bundling insurance products with a financially strong company, Nationwide could be a good choice.

Products

Nationwide has eight types of life insurance products accross term, whole and universal life policy.

  • Nationwide term life insurance offers with terms of 10, 15, 20 and 30 years.
  • Whole Life Insurance from Nationwide offers lifetime coverage.
  • Nationwide Universal Life Insurance offers lifetime coverage.

Cost

AgeAmountPolicyFemaleMale
35$1,000,00020-Year Term$59.95$76.67
45$1,000,00020-Year Term$121.81$170.07
55$1,000,00020-Year Term$284.84$416.96
65$1,000,00020-Year Term$948.98$1446.61
List of Nationwide Life Cost

State Farm

All of State Farm’s temporary products can be converted to permanent coverage regardless of changes in your health. Products include life insurance, home and renters insurance, auto and specialty vehicle insurance, and health, liability and disability insurance. It is also one of the best top rated life insurance companies.

Pros of State Farm

  • Best A++ rating from AM Best.
  • Top most affordable life insurance company.
  • Offer three types of life plans(term, whole & Universal).
  • Less customer complaints.

Cons of State Farm

  • Have to buy the policy from an agent of State Farm.
  • Plans are not not available in Massachusetts.

Reviews

According to us the best life insurance companies of 2021, State Farm is ranked #7 with a score of 3.9. Over past few years, State Farm has filed fewer complaints with state regulators than expected for a life insurance company of its size.

Products

You can find a local State Farm agent on the company’s website and order certain products forward.

  • In term life insurance, State Farm offers select term life insurance, premium return life insurance and instant response life insurance.
  • For Whole Life policies, State Farm’s options are Final Expense, Limited Paid Life, Single Premium Life, and Whole Life.
  • For universal life insurance includes universal life insurance, for survivors, and joint universal life insurance.

Cost

AgeAmountPolicyRate
35$1,000,00020-Year Term$62.12
45$1,000,00020-Year Term$134.44
55$1,000,00020-Year Term$330.30
65$1,000,00020-Year Term$1005.65
List of StateFarm Life Cost

Transamerica

Transamerica offers single term, universal index and whole life insurance, as well as acquisition expense coverage. The services are available for companies and individuals. Offers premium benefits in your Trendsetter Living Benefits term life insurance, such as: B. The ability to access your own death benefit early if you have a chronic or serious illness.

Pros of Transamerica

  • Provide huge term lengths.
  • Present in nationwide.
  • Sometimws some products build cash value.
  • Has flexibilities to take policy loans.

Cons of Transamerica

  • Customer have to buy the policy from their agent.
  • Has customer complaints.

Reviews

Transamerica received 3 stars out of 5 for its overall performance. In the past few years, Transamerica has received more complaints from government regulators than might be expected for a company of its size.

Products

  • For term life insurance, it provides 10-30 years term.
  • For life insurance, Transamerica’s options are life insurance and terminal cost insurance.
  • The Universal Life Index Policy can be split into three different index accounts to achieve the base rate of return.

Cost

AgeAmountPolicyFemaleMale
35$1,000,00020-Year Term$57.67$74.84
45$1,000,00020-Year Term$118.66$154.54
55$1,000,00020-Year Term$256.56$358.58
65$1,000,00020-Year Term$815.15$1159.29
List of Transamerica Life Cost

Pacific Life

Pacific Life offers a critical combination of competitive pricing and reliable policy mapping that can maximize capital value accumulation for most types of life insurance. Pacific Life also sells indexed universal life insurance, a type of perpetual policy. Life insurance quotes are not available through the Pacific Life website.

Pros of Pacific Life

  • Higher rates for term life insurance.
  • Most premiums build cash values.
  • Very good satisfactions recieved from customers.

Cons of Pacific Life

  • Not available online.
  • Universal products have higher internal costs.

Reviews

Pacific Life has filed far fewer complaints with government regulators than would be expected for a company of its size.

Products

  • There are policies with terms of 10, 15, 20, 25 or 30 years.
  • Pacific Life also offers life insurance, but only through workplace plans.
  • Universal, variable universal and index universal life insurance.

Cost

AgeAmountPolicyFemaleMale
30$ 1,000,000 20-Year Term$298$369
40$1,000,00020-Year Term$499$585
List of Pacific Life Cost

Bottom Line:

Select any of these USA insurance companies among top rated life insurance companies to secure your life. ALl these have some pros and cons mentioned. Check the benefits and policies carefully and then select. Also check the free quotes mentioned above. Compare the quotes and buy according your health and need.

Companies of Life Insurance

Top Rated Life Insurance Companies.