Top 10 Life Insurance Companies In The US In 2018

Meta: There are hundreds of life insurance companies throughout the USA, but which one is the most suitable for your needs? Let’s find out!

Introduction

The huge impacts of taking out life insurance on people are by no means subject to belittlement. However, consumers tend to keep negligent in figuring out life insurance company’s ratings before making up their mind to the buying decision.

There are hundreds of life insurance companies throughout the USA, which usually throws potential policyholders into great confusion. Each company is assessed on the basis of its wide range of products and terms, along with customer service, reliability and performance. As a result, it makes a lot of sense that you can choose the most suitable type of coverage in line with your specific needs of protection and duration.
So, today we’re here to help you become a wise consumer. We have opted out the most outstanding agencies that you can put your trust in.

Top 10 US Life Insurance Companies in 2018

1. Haven Life

Haven Life has just entered the insurance company as a startup under the ownership of MassMutual, which was founded in 1851. As MassMutual has built up an excellent reputation in this field, it stands to reason that Haven Life is a trustworthy insurance provider that you can rely on.

In comparison with other competitors, Haven Life stands out for providing instant coverage without health certificates. As a rule, policyholders need to undergo a thorough medical examination to be pronounced qualified or disqualified for a policy. However, this doesn’t matter anymore when it comes to Haven Life, meaning that you are still passed on the next step to receive coverage even if your health condition doesn’t live up to standards. This special point is a break from the conventional process of purchasing term life insurance.
Image result for haven life insurance
Moreover, there is no match for the speed of processing application of Haven Life Insurance by using an underwriting algorithm called Instant Term. Unlike a normal period ranging from 4 weeks up to 6 weeks, it mostly takes a total of less than 20 minutes from start to finish. In addition, the whole application can be processed online, which saves you the time of meeting an agent in person, filling out a form, staying at home and waiting for a reply.

Although Haven Life is licensed to provide term life insurance only, it offers a variety of additional features including automatic bill settlement and free look period. You are given a 10-day period to review your policy after approval to cancel and get a complete refund.

Haven Life is also well-known for its great customer service, simple billing and guaranteed payouts upon initial agreements. One of its clearly-stated goals is to create products with clients’ experience in mind. Thus, a sense of friendliness, professionalism and understanding can all be found in its customer service representatives.

2. AIG

As one of the biggest companies providing life insurance worldwide, American Insurance Group, known as AIG, has been operating in the life insurance industry for nearly a century. Used by a huge number of clients all over the globe, it can provide competitive rates for those on the verge of getting a costly rate class. In case you are a little overweight or have chronic diseases, you can turn to AIG with better rates compared to other carriers. For recreational marijuana smokers, AIG Life can come as an ideal choice.
Image result for AIG life insurance
One of its most striking features is flexible underwriting. While term life insurance providers normally offer term periods for increments of five, which means that you can only purchase a policy among 10, 15, 20 and 30 years, AIG facilitates the application for a 16 or 18- year, insurance period. This proves much convenient for those with specific needs.

For instance, you just desire for coverage until you retire, your children are fully grown up or you get your mortgage balance totally cleared. When it comes to AIG Life Insurance, there’s no need to reluctantly buy a policy for a longer period than needed only to fit in with the 5 years-fold duration rule.

Unlike Haven Life and Banner Life, AIG presents more diverse options to take into consideration, namely term life, whole life, universal, index and variable universal life insurance. Besides, there is a wide range of riders coming along designed for disability, children, accidental death, etc.

Thus, it is granted the accreditation of rating agencies for high stability as well as claim payouts.

3. Banner Life

Cited as one of the best term life insurance providers on the market nowadays, Banner Life has made a name for an excellent array of products which can perfectly cater to the various needs of customers as well as business people. It is also held in high repute for supplying coverage to individuals with any health status or high-risk job.
Image result for Banner  life insurance
This company turns out even more popular among the senior community concerning its commitment to offering term life insurance for people aged up to 95 years old, which can’t be found in most companies’ policies as they stop giving insurance for those aged between 65 and 75.

Despite limited choices of policies including term and universal life insurance, the unique features, including waiver of premium, policy transfer, flexible payment, make Banner Life stand out from hundreds of insurance companies.  Founded nearly 80 years ago, it has acquired top grades by numerous rating agencies for its brilliant customer service. Therefore, you are posed to no risk of losing your money for unsatisfactory services or getting customers’ rights violated.

4. Prudential

As part of Prudential Financial, a financial institution which has set up branches in 43 countries and territories worldwide, Prudential Insurance has enjoyed high acknowledgment by rating agencies for its stability and claim payouts, making it rank in the list of the most popular US insurance companies.
 Image result for Prudential life insurance
Over the duration of 140 years in operation, Prudential is well-known for differentiating between chewing tobacco users and smokers by providing the best rates for the former. This has saved chewing tobacco users thousands of dollars during the course of the policy.

The company has some policy options to introduce to potential customers, both term and permanent coverage. Universal, indexed universal and variable universal are permanent insurance policies available at Prudential. Out of them is the universal life insurance of survivorship which covers two individuals at the same time with only one policy. This may turn out financially affordable in the long run.

Moreover, niche clients including those with a steady life on the go or being diagnosed with diabetes or some kinds of cancer are eligible for favored underwriting over other life insurance companies. And if you used to be in the habit of smoking or abusing alcohol but now quitted, you will get annual rates reduced each year you are alcohol-free or smoke-free.

5. Assurity

It is estimated that Assurity Life Insurance has been serving the American’s insurance demands for approximately 125 years. All of its products and services harbor the values of American life: significant relationships, great customer care, and strong financial potential.
 Image result for Assurity Life Insurance
As a certified B corporation, Assurity has committed to joining hands in enhancing a better society and building up a better world.

As a mutual company, it doesn’t operate to serve the aims of investors or stockholders. In contrast, it is customer satisfaction that Assurity sets as its end goal.
Instead of asking promising policyholders to take a medical exam and blood test, the company relies on its customers’ answers to specific medical questions coupled with MIB, pharmacy and MVR check-up results.

Consequently, it is safe to say that Assurity is so great a choice for the term and whole life insurance applied to specific age ranges.

6. MetLife (Brighthouse Financial) 

MetLife, or Metropolitan Life Insurance, has been around for more than 140 as a household name not only within the border of US territory but also across the globe with its prevailing presence in nearly 50 foreign countries.
Image result for MetLife Life Insurance
The company provides a diversity of policy options ranging from term life, whole life to variable, universal and survivorship plans, all of which are simplified in full measure without any medical exam requirements for underwriting. This can generate motivations in those having health-related issues or fear of blood tests. Besides, its insurance products are distributed via different channels namely agents, brokers, banks and other direct marketing channels, which stand ready to meet any urgent needs by anyone on national and local levels. Those who can really gain benefits from MetLife underwriting’s policy are marijuana smokers, soldiers, people serving in the army or having high blood pressure.

Besides its products, the company also pays great attention to enhancing customer service by making interactions with representatives available both on the phone and by email. When asking for consultation from MetLife, customers have every reason for expecting to be treated with utmost consideration and hospitality.

7. Mutual of Omaha

Mutual of Omaha has been staying in the life insurance industry for roughly 109 years now and it has proven itself a top-rated insurer for seniors. Thanks to its “Fit Underwriting Credit Program”, which is comprised of 14 lifestyle and health credits, its clients are certainly endowed with a better rating of health class.
 Image result for Mutual of Omaha life Insurance
Concerning its policies, customers can choose from a list of simplified issue, term life, universal life and whole life.

As for middle-aged folks and senior citizens, a perfect burial policy is referred to as a vital prerequisite for their final decision on life insurance. With an outstanding process and a competitive price range, Mutual of Omaha deserves high praise for its superior product serving this market.

As a mutual life insurer, it can also provide a wide selection of services for the pre-retiree and retiree such as long-term care, severe illnesses and disability insurance, investments to name but as few.

In terms of life insurance riders, accelerated death benefit, dependent children’s rider subject to later conversion to independent policies and waiver of premium are some of its abundant riders that cannot be missed out upon consideration.

8. Protective

This life insurance company was established in 1907. With more than a century in operation, it has remained unfailingly loyal to its own ideology, which says “ Do the right thing, serve people, build trust and simplify everything”.
 Protective Life Insurance Review
Despite the increasingly competitive insurance market, Protective Life Insurance still manages to stand among the top solutions for those asking for specific universal contracts. Whether you need 10-year term insurance or whole life insurance, the company is able to create full plans tailored to your individual needs.

The company is specially designed for the 30-70 demographic, so if you are a healthy person of this age range, then Protective Life should be put on top of priorities.

Its renowned affordability can be attributed to the income provider option. This is undoubtedly the most striking feature that truly sets this company apart from its rivalries. Whereas many life insurance companies offer all-at-once death benefit payouts, beneficiaries under this policy are likely to receive payments in small portions.

For example, if you register a $100,000 policy, the balance could be paid out in installments as $10,000 for 10 years instead of a one-time payment of $100,000. This proves of much significance in case your heirs are students, addicts or those normally bad with money matters. With income provider option, you can make sure your beloved ones will receive steady income annually as a financial backup rather than using up all the lump sum in one go.

9. New York Life

Starting in 1845, New York Life Insurance Company has been in operation for roughly 173 years and continuously set records in accumulating assets despite economic fluctuations. This comes as a vivid manifestation of its solid financial strength and consistency to incur claim obligations.
 Image result for New York life Insurance
In terms of product range, New York Life provides all main life insurance forms, including term life, whole life, universal and variable universal life along with adequate coverage options such as cash surrender and survivorship policy.

Moreover, it presents various methods of premium payment for policyholders. Besides the traditional method of automatic payment from bank accounts, customers can choose among via credit card, through the Internet and over the line.

The company also reveals its quickness on the uptake of the latest technologies when making communication between customers and service staff possible through popular social networks such as Twitter and Facebook. This helps to solve customers’ problems or inquiries as soon as possible.

10. Transamerica

Out of the top medical exam life insurance policies comes Transamerica Life Insurance. It began operations around 100 years ago and has become a financial and insurance provider for people aged up to 58 years old, especially for people over 70 years. Transamerica offers a variety of policies entailing term life, whole life, universal life, variable universal life and final expense life.
 Image result for Transamerica  life Insurance
What makes Transamerica rank in the top ten of the USA is its impressive life benefits such as riders for disability, terminal illness and chronic illness.

With all above-mentioned plus points, the company has been given excellent rates for financial strength, security and prospect.

Conclusion

Although life insurance companies may somewhat differ in their policy options and benefits, there is absolutely no doubt that their ultimate goal is to provide the best insurance policy for each customer. Therefore, it is imperative that you take your specific desires, current health condition and economic status into account so as to find out which company suits you the best.

For further information, you can pay a visit to their websites and make a direct phone call to the customer service division to receive thorough guidelines. Now it’s your turn to decide upon your own life insurance.


Related Posts:

 
Copyright © bimobo.com 2017-2018 All Rights Reserved