Life Insurance Companies
Finding the best life insurance company requires research. You should carefully study customer reviews, pricing options and the financial rating of potential life insurance companies. It’s also smart to get quotes from a few different insurers before making a decision.
Selecting the Right Life Insurance Company
Life insurance companies are highly regulated and typically in excellent financial health.
Still, you want to make sure the company you select for life insurance is dependable and trustworthy.
Compare multiple companies to see what they offer and how much coverage costs. Check your state’s insurance regulations, and make sure the companies you consider are properly licensed.
- Customer satisfaction
- Product selection
- Financial history and stability
Life Insurance Company Ratings and Reviews
Life insurance companies receive grades from independent rating agencies based on their history of financial strength and customer satisfaction.
Policies can last decades, so it’s important to consider companies that are likely to still be around and able to pay claims in the future.
Exploring ratings and reviews specific to the type of life insurance policy you’re shopping for can help you determine which company is best for you.
- J.D. Power
- J.D. Power is an independent ratings firm that publishes customer satisfaction scores for more than 20 of the largest life insurance companies each year.
- A.M. Best
- A.M. Best’s scores reflect an insurance company’s ability to meet financial obligations and pay claims to policyholders. It examines factors such as balance sheet strength, operating performance and enterprise risk management.
- Better Business Bureau
- The BBB rating system is based on the company’s complaint history and how responsive the insurer is to resolving those complaints. By visiting the Better Business Bureau website, you can see each company’s business profile with complaints and reviews.
Best Life Insurance Companies
Below is an alphabetical list of highly rated life insurance companies.
- American International Group, or AIG, is a life insurance company with more than 160 years of experience. It features a variety of life insurance products, including term life, guaranteed issue whole life, universal life and more. It maintains an A rating from A.M. Best.
- American National
- American National offers a wide variety of life insurance products, retirement annuities, pension plan services, credit insurance and property insurance for personal and business lines. It maintains an A rating from A.M. Best.
- Ameritas offers investments, annuities, retirement plans, life insurance and other products. It maintains an A+ rating by Standard & Poor’s and an A rating by A.M. Best.
- Assurity Life
- Assurity specializes in protection-based financial solutions that can be tailored for specific individual, family or business situations. It maintains an A- rating by A.M. Best.
- Foresters Financial
- Foresters Financial is a membership-based fraternal benefit organization that provides investment, life insurance, retirement and savings solutions to more than 3 million customers and members in the U.S., Canada and the United Kingdom.
- John Hancock
- John Hancock is an internationally recognized company established more than 155 years ago. It provides insurance solutions to more than 2.6 million policyholders and features a rating of A+ from A.M. Best.
- Minnesota Life
- Minnesota Life and Securian Financial Group affiliates provide insurance, investment and retirement planning products to over 15 million people nationwide. Founded in 1880, it ranks as one of the highest rated companies in America and features an A+ rating from A.M. Best.
- National Western
- National Western Life Insurance is a publicly traded financial services company with conservative investment objectives. It features an A financial rating by A.M. Best.
- North American
- North American Company for Life and Health Insurance is a Chicago-based insurer established in 1886. It offers a diverse portfolio of universal life insurance, term life insurance and annuity products. North American features an A+ rating from A.M. Best.
- Protective Life
- Protective Life Corporation was established more than 100 years ago and features a wide portfolio of life insurance, specialty insurance and investment products. It features an A+ rating by A.M. Best.
- Prudential Financial Inc. is one of the largest financial services institutions in the world, with operations in the U.S., Asia, Europe and Latin America. It was established more than 140 years ago and features a rating of A+ from A.M. Best.
- Established in 1858, Transamerica features a rating of A+ by A.M. Best. It offers life insurance, supplemental health insurance, investments and retirement services.
- United of Omaha Living Promise
- As Mutual of Omaha’s main subsidiary since 1926, United of Omaha offers a variety of products in the long-term care, life insurance, fixed annuity and Medicare supplement markets. It features a rating of A+ by A.M. Best.
5 Cited Research Articles
- Shelton, S. and Threewitt, C. (2020, January 17). Best Life Insurance Companies of 2020. Retrieved from https://www.usnews.com/360-reviews/life-insurance/best-life-insurance-companies
- Better Business Bureau. (2017, October 27). BBB Tip: Life Insurance. Retrieved from https://www.bbb.org/article/tips/14095-bbb-tip-life-insurance
- Better Business Bureau. (2017, October 27). BBB Tip: Insurance Companies. Retrieved from https://www.bbb.org/article/tips/14094-bbb-tip-insurance-companies
- Insurance Information Institute. (n.d.). How do I pick a life insurance company? Retrieved from https://www.iii.org/article/how-do-i-pick-life-insurance-company
- Life Happens. (n.d.). Tips for Choosing the Right Insurance Company. Retrieved from https://lifehappens.org/tips-for-choosing-the-right-insurance-company/