When considering whole life insurance, it is important to understand the difference between term life and whole life. Despite the rhetoric of the mainstream “financial gurus,” there are definitely times when whole life is better than term life insurance. At TermLife2Go, we believe there is no “one size fits all” policy. Give us a call today to experience the TermLife2Go difference!
Top 10 Best Cash Value Whole Life Insurance Companies for 2016
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Below you will find TermLife2Go’s top ten list of the best cash value whole life insurance companies that we work with. While there are other companies that we write for, the following top ten list of the best whole life companies is based on the companies we are currently writing the most whole life with.
At TermLife2Go, we like top 10 lists. We have a Top 10 Best Life Insurance Companies, Top 10 Best No Medical Exam Companies, Top 10 Best Universal Life Insurance Companies and Top 10 Final Expense Whole Life Insurance Companies lists. Each list is comprised of the companies that we tend to write the most for each particular segment.
The companies are listed in alphabetical order. (Yes, we know there are eleven listed but top 10 lists are so much cooler). There is no one “best” whole life insurance company. Each company serves a unique niche, as there are different types of life insurance policies available.
A.M. Best Company rating: A- (as of 2015)
Assurity Simplified Whole Life offers three plans based on your unique health profile: Level, Graded and Modified Death Benefit
Level Death Benefit: Face amounts of $5,000 – $50,000 available.
Graded Death Benefit: Face amounts of $5,000 – $35,000 available. The graded death benefit pays a portion of the face amount the first two years (40% in year one; 75% in year two; and 100% in year three and beyond).
Modified Death Benefit: Face amounts of $5,000 – $25,000 available. In year one, the policy pays out 110% of the annual premium; in year two, the policy pays out 220% of the annual premium; the policy pays out 100 percent of the full benefit amount in year three and beyond.
Interested in Assurity Simplified Whole Life Insurance rates? Give us a call today!
Please visit our Assurity Life Insurance page for more on this company.
A.M. Best Company rating: A+ (as of August 2015)
AXA Equitable Interest Sensitive Whole Life insurance provides permanent coverage with fixed premiums guaranteed for life and guaranteed minimum 2% cash value that increases year over year (unless you take out a loan on the policy) and equals the death benefit face amount at age 100. Additional interest can accrue beyond the 2% minimum which may result in the policy’s cash value exceeding the minimum guaranteed cash value. A living benefits rider is available at no additional cost.
Interested in AXA Equitable Interest Sensitive Whole Life insurance rates? Give us a call today!
Please visit our AXA Equitable Life Insurance page for more on this company.
A.M. Best Company rating: A (as of July 2015)
Foresters PlanRight offers whole life insurance. The product comes in three forms: level benefit, graded benefit and modified benefit.
PlanRight Level Benefit: Full death benefit payout from first day the policy is in force. Available for ages 50-85, with maximum face amounts of $35,000 up to age 80, and maximum face amounts of $15,000 for ages 81-85.
PlanRight Graded Benefit: If death occurs in first two years, the policy pays out 30% of face amount in year one and 70% of face amount in year two. Available for ages 50-85, with maximum face amounts of $20,000 up to age 80, and maximum face amounts of $10,000 for ages 81-85.
PlanRight Modified Benefit: Policy pays out return of premium plus 10% if death occurs in the first two years. Available for ages 50-80, with maximum face amounts of $15,000.
Please visit our Foresters Life Insurance page for more on this company.
A.M. Best Company rating: A (as of May 2015)
Gerber Guaranteed Life insurance offers whole life insurance coverage with no medical exam and no questions asked. Face amounts range from $5,000 – $25,000. Guaranteed issue life insurance provides a fixed premium whole life coverage that build cash value for ages 50-80.
For free Gerber Guaranteed life insurance rates, please give us a call today or visit our final expense and burial insurance page for final expense quotes.
Please visit our Gerber Life Insurance page for more on this company.
A.M. Best Company rating: A++ (as of December 2015)
Guardian Whole Life insurance offers fixed premium permanent coverage. The policy accumulates cash value that can be borrowed against and used for whatever you need it for. The company offers dividends based on its profits and has consistently made dividend payments to policy holders since 1868. Additional policy riders include critical and terminal illness and disability.
Please visit our Guardian Life Insurance page for more on this company.
A.M. Best Company Rating: A-
Currently available in 48 states (not yet in California), Kemper Senior Solutions fits a unique niche in the marketplace. This is a guaranteed issue cash value whole life insurance plan for ages 40-80. Face amounts range from $2,000 – $25,000. Graded death benefit that pays 120% of premiums if death occurs in first two years and the full death benefit amount thereafter. Cash value can be used to pay premiums to avoid a lapse in coverage. Premiums are fixed.
Please visit our Kemper Life Insurance page for more on this company.
A.M. Best Company rating: A++ (as of June, 2016)
When it comes to whole life policies, MassMutual ranks at the top of the class. MassMutual is a mutual company that has been in operation for over 150 years. The company offers participating whole life insurance policies with non direct recognition. This is the company you want to choose when you are interested in purchasing life insurance as an asset.
MassMutual’s whole life offers:
- Guaranteed Death Benefit
- Guaranteed Level Premiums
- Guaranteed Cash Value Accumulation
In addition, whole life policyholders receive annual dividends. Although not guaranteed, MassMutual has paid dividends since the 1860s.
A.M. Best Company rating: A+ (as of February 25, 2016)
MetLife Promise Whole Life insurance offers a guaranteed death benefit, guaranteed level premium and guaranteed cash value. The policy pays dividends annually starting on the second policy year. Dividends can be used to acquire interest, purchase additional paid-up insurance, as cash to use however you like, such as paying additional premiums.
MetLife Whole Life offers several policy riders, such as:
- The Enricher Rider: If you elect to include this optional rider you can add coverage and cash value over time without re-applying so that your death benefit corresponds to your changing needs.
- Accidental Death Benefit: pays an additional death benefit equal to the policy face amount if death is due to an accident.
- Child Term Rider: term life insurance for the insured’s children
- Flex Term Rider: includes term life that accompanies the whole life policy, offering additional coverage for a period of time.
- Disability Waiver of Premium Rider: Waives premiums owed if insured is disabled for 6 months or more.
- Enhanced Care Benefit: if the insured develops a prolonged illness, the policy owner can gain access to up to 90% of the death benefit to be used to care for the insured.
Please visit our MetLife Life Insurance page for more on this company.
A.M. Best Company rating: A+ (as of April 2016)
SBLI whole life insurance comes in three flavors: Continuous Payment Whole Life, Limited Payment Whole Life and Single Premium Payment Whole Life.
Continuous payment is your standard whole life insurance policy that offers cash value and a fixed premium. You pay the premium and the policy lasts your whole life. It has a lower premium than some policies because the maturity age for the policy is 121, compared to age 100.
Limited payment allows you to make limited payments for 10 years, 15 years, 20 years or until you are age 65.
SBLI offers a full suite of whole life insurance policy riders, such as Accelerated Death Benefit, Child Term Rider, Guaranteed Purchase Option and Waiver of Premium.
Single premium life allows you to purchase coverage with a onetime payment.
Please visit our SBLI Life Insurance page for more on this company.
A.M. Best Company rating: A+ (as of November 16, 2015)
Transamerica Guaranteed Whole Life insurance is available for face amounts ranging from $50,001 – $3,000,000. Excellent senior life insurance company due to competitive pricing for the elderly. Guaranteed premiums and guaranteed coverage for your whole life as long as premiums are paid. Available for all ages up to 80. The policy offers tax deferred cash value accumulation that can be borrowed against.
Please visit our Transamerica Life Insurance page for more on this company.
A.M. Best Company rating: A+ as of April 2016.
United of Omaha Living Promise no exam whole life insurance offers two plans: Level and Graded.
- Level Benefit is available for ages 45-85.
- Face amounts range from $2,000 – $40,000.
- Accelerated Death Benefit for Terminal Illness or
- Nursing Home Confinement Rider
- Graded Benefit is available for ages 45-80.
- Face amounts range from $2,000 – $20,000.
- 2 year graded death benefit
Please visit our United of Omaha Life Insurance page for more on this company.
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If you see a company that you believe may be a fit or if you need more information on the different top rated whole life insurance companies available, please give us a call today!
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