Understanding good Life Insurance companies can be a bit difficult as what may be good to others may not be suitable for you. A few key factors should be taken into consideration while deciding which Insurance Company to go for, like the coverage amounts, term lengths, and age restrictions are some of the factors while there may be more for others.
Best Life Insurance Companies
To make your insurance shopping more accessible, we have listed some term life policies that are sold by 10 life insurance companies so that you can choose the right and best one for you and your loved ones.
The Northwestern mutual provides premiums that are relatively low in the beginning, but it keeps on increasing with your age. Its coverage is renewed automatically every year. The coverage is available in 10 or 20-year terms and is issued up to the age limit of 65-70. The Northwestern Company is highly rated for customer satisfaction, and it consistently pays dividends to eligible customers. The company gives flexible payment and coverage choices to the customers. Still, one of the cons is that this company website doesn’t provide any specifics about the coverage amounts or term lengths.
Guardian life is primarily known for people living with HIV. People must be between the age group of 20-60. They should meet specific requirements such as being on active antiretroviral therapy to fit into the eligibility criteria. Typically this policy is for married couples. But one of the cons of Guardian life is that it has scored below average in J.D. rating.
Haven life offers insurances online that takes 25 minutes to process with a streamlined application. The applicant’s up to 59 years old who can buy up to $ 1 million in coverage with no medical exams required. This type of policy cannot be converted into whole life coverage.
MassMutual life insurance has a broad range of term life options like whole life, universal life and variable universal life insurance, and these may require a life insurance medical exam. Still, the company will give you temporary coverage when you wait for the medical exams, which should be compulsorily done.
The AARP life insurance program has two kinds of insurance policies- permanent and term life insurance and people between 50-80 can apply. Though no medical exam is required for life insurance policies through AARP, you have to be a member to buy one.
Auto-owners offers the usual coverage, including liability, other state-required coverage programs, roadside assistance etc. This insurance company serves a lot more than just owners of automobiles; there are more than ten types of insurance through independent agents in 26 states. This company offers seven types and options like gap coverage, diminished value coverage, additional expenses insurance, personal automobile plus package. The company includes a few more benefits that usually other insurers don’t provide.
Newyork Life Insurance
The Newyork Life Insurance ranks highest in J.D’s power 2020 customer satisfaction study for life insurance. They provide yearly convertible term policy and level premium term policy; along with these, they provide differenr life insurances: whole life insurance, variable universal life and universal life insurance. If the policyholder becomes terminally ill or disabled, the company will offer several add-on life insurances for its permanent policies. They have substantial policy options and higher customer satisfaction, making it stronger for the buyers to think.
Pacific Life Insurance was founded in California in 1868. It offers annuities and investment products to individuals and businesses. Pacific life insurance policies provide term life insurance, universal, variable universal and indexed universal life insurance, life insurance with long-term care benefits, whole life insurance for businesses. This company is one of the US’sU.S.’s top sellers of indexed universal life insurance. It also includes survivorship insurance that covers two people, but the death benefit is paid after both the people die.
State Farm Life Insurance
State Farm Life Insurance was started in 1922 by an Illinois farmer, and the company has sold a wide range of insurance products through local agents. State farm life insurance sells term life, whole life and universal life insurance policies to individuals. Since they have a broad range of term products, including instant answer life insurance, there are some restrictions for Android users when trying to access policy details through an online portal. In-state farm life insurance policies, all state farms’ products can be converted to permanent coverage. The coverage starts at $ 100,000 and applies to applicants from 18-75 years of age. The applicant can add a child rider, time rider or waiver of premium rider at an additional cost.
USAA Life Insurance
USAA Life Insurance offers whole life policies. It serves a guaranteed coverage after leaving the military. Under permanent life insurance, there are simplified whole life insurance, universal life insurance, guaranteed issue life insurance policies. Even though they are specially designed for active military members, veterans and their family members, the insurance policies are available to everyone. One of the disadvantages of this policy is that it’s not available in Montana or New York.
While choosing the best insurance company, it is recommendable to go for the company you trust, as you will be counting on the company that will be there for your family in the forthcoming years. The company’s financial rating is one of the broader ways to look into the conditions of the company before deciding which one to opt for. Refer to the A.M Best rating firm to look into the financial ratings of the insurance companies.