As independent agents, our goal at TermLife2Go is to find the best life insurance available for you from the top life insurance companies in the United States. With so many companies available it is essential that we stay on top of each company’s unique niche in the marketplace.
We work with dozens of top rated life insurance companies. The list of companies we focus on can change at any given time depending on which companies are currently offering the best products and pricing. The advantage to representing multiple carriers is that we can find the best life insurance company for you based on your specific needs.
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Our #1 priority is to find you the best company at the best price…for you! That means we tailor a policy specifically to you, because no two clients are alike. Let us leverage our expertise for you and see if we can’t save you thousands of dollars on life insurance…
And the Best Life Insurance Company in 2017 is…
Another year has gone by and we have seen some major shifts in the life insurance marketplace. Certain companies, such as Genworth Financial, no longer offer individual life insurance. Having access to the best life insurance companies in the U.S.A. is essential to finding you the right company that caters to your unique need, health and lifestyle.
At TermLife2Go, we are independent agents, rather than captive agents. What this means is we are free to choose from among the top carriers, instead of being captive to only ONE company. Many of the larger agencies out there only represent a handful of companies. However, we have access to dozens of top companies, with a pool of more companies to draw from if necessary.
Having many companies to choose from allows us to offer the right company to our clients, instead of the company that offers us a “sweet heart” deal. It is this independence that allows us to best serve our clients.
Which company offers the best life insurance in 2017?
- Prices offered
- Products offered
- Unique niches the company fills
- Financial Strength
“A quote is just a quote.” -TermLife2Go agent
You can enter your info into our quote engine for both exam and no exam life insurance quotes here. However, in order to actually receive that quote you must qualify for it.
Carriers give out different health rate categories depending on a clients health and lifestyle. Our goal is to align each client with the company that suits that specific client’s unique need, health and lifestyle so that each client has the greatest opportunity at getting the top health category. In this way, our clients have the best shot at getting the best price for coverage specific to him or her.
And don’t neglect preparing for the life insurance medical exam! A few tweaks to your daily routine can save you thousands over the life of your policy.
Finding the Unique Niche for Each Client
Blood pressure, cholesterol, history of cancer, overweight, dangerous hobbies, foreign travel, etc… Each of these conditions can make or break your life insurance application. Our job as agents for our clients is to align each client with the company that we believe best fits the unique need of each unique person we serve.
No two companies and no two clients are the same. There is no one size fits all company. Instead, there are many different companies all vying for your business. The key is to choose the one that will give you the best shot at getting the best life insurance policy.
The primary credit rating agencies are A.M. Best, Standard and Poor’s, Fitch and Moody’s. Of these, the premier ratings agency is A.M. Best Company. A.M. Best ratings offered include:
- Superior (A+ to A++)
- Excellent (A to A-)
- Good (B+ to B++)
- Fair (B to B)-
- Marginal (C to C++)
- Weak (C to C-)
- Poor (D)
The majority of the companies we recommend are A.M. Best rated excellent (A to A-) and above. Occasionally we will recommend a company with a good rating (B+ to B++), which A.M. Best believes have a good ability to meet ongoing insurance obligations. We try and list the rating of each company but if you are unsure please feel free to ask us.
What Life Insurance Company is Best for Me?
There are two main types of companies, mutual and stock. Mutual insurance companies are owned by the policyholder and stock companies are owned by the stock holders. Neither of these types of company is better than the other per se. However, for particular products, such as cash value life insurance, a mutual company will often be the better choice primarily because the of annual dividends returned to policy holders.
Which Company Should I Choose?
- Help determine if you’ll qualify for the life insurance being applied for,
- Determine what price you’ll end up paying for your life insurance, and
- Help determine which life insurance company will be the right one for you!
The below top ten best life insurance companies of 2016 list is comprised of the carriers that we most frequently recommend to our clients along with a brief synopsis on each company’s strengths and weaknesses.
You may be asking, why is State Farm, AARP, Farmers, or Allstate not on this list? The reason is those companies only offer insurance “in house” by captive agents. Further, due to those companies focus on other insurance lines, such as health and auto, they typically miss the mark when it comes to offering the best life insurance.
Now, we would like to state for the record that this list is a “fluid” one. Fluid because, on any given day, any one of the dozen of different carriers that we represent may in fact change one of its underwriting guidelines. This is why it is important to choose a life insurance agency with agents that focus exclusively on placing term, universal and whole life insurance, instead of other types of insurance, such as health and auto, typically offered by captive agents.
Top 10 Best Life Insurance Companies of 2017
- Mutual of Omaha
- North American Company
1. AIG – A.M. Best Rating: A (as of February 27, 2015)
AIG’s life insurance brand is American General Life Insurance Company (AGLA). AGLA is the right choice for many because the company is the “jack of all trades” in the insurance industry. This is demonstrated by the Company’s flexible (i.e. loose) underwriting, competitive pricing which is usually well below the industry average, and they have exceptional customer service.
The following strengths help AIG owned American General rank as one of the top companies available.
- Great carrier for higher risk applicants, such as those looking for diabetic life insurance.
- You can tailor your term to a specific length from 15-30 years, such as 16, 17, 18, 19, etc…year terms.
- Excellent living benefit riders, including an accelerated death benefit rider free of charge.
- An ADB rider works like this: If you are diagnosed terminally ill, you can receive a portion of your death benefit while you are still alive, which can be used to help pay bills, hospice, or whatever else you need it for.
- AIG offers some of the lowest rates on Guaranteed Universal Life insurance (GUL) to age 121. This is a fixed premium policy that becomes fully vested at age 121. If you die before age 121 it pays out the full face amount. If you live beyond age 121 then you can cash the policy in for the full face amount. This is a great option for business succession planning such as funding a buy-sell agreement with life insurance.
Sample American General GUL Life Insurance to age 121 rates
Annual quotes are based on a male at a preferred plus rate as of February 2017. Rates are for informational purposes only, are subject to change and must be qualified for.
2. ASSURITY – A.M. Best Rating: A (as of 2015)
Assurity Life is a mutual insurance company, which means the company’s main priority is to its policyholders—not shareholders. This is a big deal, especially if you are considering the company’s participating whole life insurance. The company’s three main products include:
LifeScape NonMed Term 350
No exam required but you must answer some questions and pass MIB, pharmacy and MVR checks.
- Ages: 18-65.
- Face amounts: $50,000-$350,000.
- Term: 10, 15, 20 and 30 years.
LifeScape Term 350 Plus
This is a fully underwritten guaranteed premium term life insurance policy.
- Ages: 18-74.
- Face amounts: $350,001 and up.
- Ages 66-74 start at $100,001 and up.
- Optional 20 and 30 year Return of Premium Benefits Rider.
LifeScape Whole Life Insurance
- This is a fully underwritten whole life insurance policy with level fixed premiums throughout the life of the policy.
- As with any whole life insurance, the policy builds cash value and will last the rest of your life as long as premiums are paid.
- Available ages are from 0-85 years old in face amounts starting at $10,000 on up.
3. Banner Life – A.M. Best rating: A+ (as of July 02, 2015)
What would a top 10 list of the best life insurance companies in the United States be without Banner? Owned by parent company Legal and General, Banner Life is Legal and General’s flagship life insurance company in America and one of our favorite carriers to write; not only because of their A+ rating, but also because of their exceptional service and price.
Banner will typically be one of the lowest priced insurance products available to our clients. And what is nice about them is that they’re underwriting is typically quite liberal.
Great carrier for higher risk applicants especially type 2 diabetics and type 1 diabetics.
Banner Life policies are renewable and convertible to the age 95 (most competitors only allow policies to be renewed to age 90).
Excellent pricing on table rates (i.e. high risk life insurance rates below standard).
Banner Life offers an accelerated death benefit rider free of charge.
Sample Banner Life Insurance quotes
Monthly 20 year term life quotes are based on a male with a Table B or Table 2 rate class as of February 2017. Rates are for informational purposes only and are subject to change.
4. MetLife – A.M. Best Company Rating: A (as of October 7, 2016)
MetLife is the largest life insurance company in North America for actual in force business. The Company also boasts a stellar reputation due to the company’s financial strength and great customer service. When the company is competitive for price, they’re usually a great fit.
As of March 2017, the retail side of MetLife will now be sold under Brighthouse Financial.
MetLife offers a diverse product line, including:
simplified issue life insurance
guaranteed acceptance whole life insurance
- level term life insurance
- universal life insurance
- whole life insurance
MetLife choice for active military personnel.
MetLife must also be considered for any type 1 diabetics.
5. Mutual of Omaha – A.M. Best Rating: A+ (as of June 3, 2015)
One of the best niches is the Company’s Fit Underwriting Credit Program which benefits clients who normally would be rated below standard. Good life insurance companies usually have some sort of healthy credits program, and MOO is no exception. The Company offers 14 lifestyle and health credits. If a client possesses characteristics identified as three or more of the credits then the client will be eligible for a better rate class, up to two table ratings.
Simplified issue, Term life, Universal life, and Whole life insurance products are available. One of the most popular policies is the company’s Living Promise Whole Life.
Living Promise Whole Life: Ages 45-85 (80 for Graded Plan). Available face amounts $2,000-$40,000, where applicable. Graded and non Graded plans available in most states. Face amounts for Graded Benefit $2,000-$20,000.
6. North American Company – A.M. Best Rating: A+ (as of June 3, 2015)
North American Company is quickly rising in fame, offering some of the top rated best life insurance in 2016. And don’t let the name fool you, just because the name North American Company for Life and Health Insurance doesn’t roll off your tongue doesn’t mean you shouldn’t consider them when deciding who you want to apply for coverage with.
As a privately owned insurance carrier, North American Company has consistently demonstrated that, through sound investments in secure and stable assets, it can maintain the highest rating in financial strength and stability.
- Great pricing for specific age brackets.
- Solid product line offering some of the best life insurance policies, including:
- term life (including simplified issue), universal life and indexed universal life.
- Exceptional Customer Service
7. Protective Life – A.M. Best Rating: A+ (as of April 28, 2015)
No top 10 life insurance companies in the United States list is complete if it does not include Protective Life. You just gotta love a company whose motto is: “Do the Right Thing, Serve People, Build Trust and Simplify Everything.”And they’ve been doing it that way since 1907.
Now throw in that they are nearly always around the lowest priced term life insurance carrier in the industry and it is difficult to think of a situation when Protective shouldn’t at least be considered as the best choice.
- Guaranteed Universal Life Insurance experts. The company offers GUL in the form of 10, 15, 20 or 30 year term options. Once the policy term expires the coverage continues at the same price with a decreasing face amount.
- Highly competitive pricing. Typically one of the most affordable—if not the most affordable option available.
- Income Provider Rider: optional rider that decreases the further decreases the policy premium and pays out the death benefit over a period of time rather than lump sum. This is great for parents who do not want their children to take a lump sum.
Sample Protective Life Insurance Quotes
Monthly rates are based on a 20 year term for a male at a preferred plus health class as of February 2017. Rates must be qualified for and are subject to change.
8. Prudential – A.M. Best Rating: A+ (as of November 4, 2015)
Prudential, Pruco, or, “the Rock”, is one of those fantastic companies that everyone’s heard of, everyone knows, and everyone feels comfortable working with.
We particularly like Prudential Life because they have made the financial decision to dominate certain “niches” within the life insurance industry. The Company accomplishes this by offering the lowest pricing in certain lifestyle and health areas and also by separating themselves from the herd through the adoption of unique underwriting guidelines specifically for:
- Travel locales
- Tobacco Use
- Cancer Survivors
- Creative underwriting.
- Solid product line.
- Non U.S. Resident Life Insurance.
- Prudential will use an applicants true age or actual age in determining premiums rather that rounding up or down based on which birthday is closer to the date of application. This is a common practice within the life insurance industry known as “insurance age” vs “actual age” where most companies will date you one year older if you are six months past your last birthday.
9. SBLI – A.M. Best Rating: A+ (as of August 18, 2015)
The self proclaimed “No Nonsense Life Insurance Company”, SBLI, in our experience, is just that. Known throughout the industry as being one of the more customer-centric life insurance carriers out there, SBLI seems to have used its smaller size to allow it to provide great customer service, and the lowest life insurance rates in many categories, particularly for those willing to pay on an annual basis.
SBLI’s innovative accelerated underwriting term life policy does not require a visit from a paramedical examiner. Instead, the company takes information from different sources, including MBI, MVR, Prescription Database and data from the Fair Credit Reporting Act.
- Guaranteed Level Premium Term requires no paramedical exam.
- Great customer service.
- Price — particularly when premiums are paid annually.
- Term Lengths — offering a full suite of term lengths: 10, 15, 20, 25, and 30 year terms available.
- SBLI also offers a annual renewable term (ART) product for those who are looking for a shorter term such as those seeking to cover an SBA loan with life insurance.
10. Transamerica – A.M. Best rating: A+ (as of November 2015)
Bookmarking the end of our top ten life insurance companies list is Transamerica. Famous for its trademark Pyramid, Transamerica life insurance is definitely a top “go to” company, especially for older clients.
The company’s term life insurance comes in three flavors: no medical term life with a face amount limit of $249,999; term life with return of premium, and fully underwritten term life insurance policy with terms of 10, 15, 20, 25, and 30 years.
Transamerica also offers whole and universal life insurance.
What Life Insurance Policy is Best for Me?
There are many different types of life insurance policies available. Determining which policy is the best for you will come down to your specific need.
Take a moment and educate yourself on the difference between term and whole life insurance. The policy that you need will help direct us to the best carrier recommendation for you.
Term Life Insurance
Level term life insurance offers death benefit protection for the term of the policy.
Most term policies offer a conversion option, that allows the owner to convert all or a portion of the face amount into permanent coverage with no proof of insurability. This is a huge benefit if you need to keep the policy due to changes in your life, or if your health changes and you would otherwise be uninsurable.
Be careful though because some companies, such as Primerica, do not offer a conversion option.
Permanent Life Insurance
There are two main types of permanent cash value life insurance: whole life and universal life.
Whole Life Insurance
Whole life insurance lasts your entire life. You can choose from several different plans and you can configure your policy to focus on either the death benefit or the cash value accumulation.
Some whole life plans are:
- 10 pay whole life insurance
- 20 pay whole life insurance
- Life paid up at 65
- Life paid up at 100
Whole life offers some pretty fantastic guarantees, such as:
- Guaranteed cash value growth
- Guaranteed death benefit protection
- Guaranteed level premiums
In addition, dividend paying whole life insurance offers a return of premium paid annual to participating policyholders. Dividends can be used for:
- Purchasing paid up additions
- Earning interest with the carrier
- Paying premiums
- Cash out
Universal Life Insurance
Universal life insurance comes in three different plans: Guaranteed, Indexed and Variable
Guaranteed Universal Life
Guaranteed universal life (GUL) offers flexible, lower premiums than other permanent policies. The primary focus for GUL on permanent death benefit coverage with limited cash value growth.
Indexed Universal Life
Indexed universal life insurance (IUL) offers similar premium flexibility but offers higher cash value growth than GUL. The policies cash account is indexed to the market, either the S&P 500, NASDAQ, etc…, and the policy offers a guaranteed floor and has a maximum cap, somewhere around 12-14%. The main advantage is your policy earns a guaranteed positive return, even if the market is down. However, your gains are limited by the cap, so the policy does not participate in huge stock market gains above the cap.
Variable Universal Life
Variable Universal Life (VUL) provides similar flexible premiums but with the highest cash value accumulation opportunity due to the cash account being directly invested into the market. As a result, VUL has the opportunity for high returns, but also the opportunity for huge losses, all tied to the performance of the stock market.
So what should I choose?
With so many amazing options from so many fantastic companies it is hard to say what life insurance policy type is best for you. But don’t worry, our team of life insurance professionals are standing by waiting to help you with any questions you have and point you to the best company offering the best policy specifically designed for your needs, goals and objectives.
Summary Top 10 Best Life Insurance Companies
|Company||A.M. Best Rating||S&P Rating|
|Mutual of Omaha||A+||AA-|
And there you have it—TermLife2Go’s
Top 10 Best Life Insurance Companies in the U.S.
We list the date above because we represent dozens of the top life insurance companies and we’re constantly reviewing companies based on pricing and underwriting criteria so that we’re sure to stay on top of any changes within the industry.
Today’s top ten life list is not necessarily going to be the same down the road. Which is why it is important for you to choose a life insurance agency that is not bound to any company and whose main purpose is to find you and your family the coverage you deserve—an agency such as TermLife2Go.
The Largest Life Insurance Company
If you are looking for the biggest life insurance companies in terms of who writes the most individual life insurance, the king of the hill for 2015 was:
- Northwestern Mutual with 8.3% of the market share
- New York Life Insurance Group 5.8%
- MetLife Inc. 5.5%
- Lincoln National Corp. 4.9%
- Prudential Financial Inc. 4.2%
- MassMutual Life Insurance Co. 3.9%
- ManuLife Financial Corp. 3.9%
- State Farm Mutual Automobile Insurance 3.5%
- AEGON 3.4%
- Aflac, Inc. 2.9%
And at any given time, one of the carriers in the following table of top companies may move into our Top Ten Life Insurance Companies list.
|Ratings as of November 2016||A.M. Best||Standard and Poor’s||Moody’s||Fitch|
|Fidelity Life Association||A-|
|Principal Financial Group||A+||A+||A1||AA-|
Our #1 priority is to find you the best company at the best price…for you! That means we tailor a policy specifically to you, because no two clients are alike. TermLife2Go works with dozens of the top rated companies, let us leverage our expertise for you and see if we can’t save you thousands of dollars on life insurance. .
So what are you waiting for? Give us a chance to earn your business. Please call us today for a free consultation and experience the Termlife2Go difference!
If you enjoyed our article, Top 10 Best Life Insurance Companies in the United States, and/or have any questions, please leave a comment below. We would love to hear from you!