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Meredith Mangan is a senior insurance editor for Investopedia; she was a licensed insurance agent for six years and has been writing and editing insurance content for almost a decade.
Richard has been a licensed insurance agent since 2017. He earned a bachelor's degree in literature from Middlebury College and has developed an impressive list of clients, including Citizens Bank, Fidelity Investments, Bank of America, New England Law, Harvard University Development Office, and Northeastern University's College of Arts, Media and Design.
Our ProcessAdvertiser Disclosure
We help millions of readers find the best life insurance through an independent review process
and advertisers do not influence our picks. We may receive compensation if you visit partners we recommend.
91 Companies reviewed
55 Features considered
11 Best of awards
Life insurance is a great way to protect your family or leave a legacy. It can cover funeral expenses, medical bills, or long-term costs like mortgage payments while your estate is sorted out. But many people who need it don't have it. According to a 2022 study by LIMRA and Life Happens, 44% of households said it would take less than six months to feel financial hardship if a primary wage earner passed. This is a problem that life insurance can solve.
To choose the best life insurance companies, we compared 91 life insurance companies in the following key categories: AM Best financial strength ratings, three years of NAIC complaints data, 2022 J.D. Power life insurance rankings, the quote and application process, product transparency, available policies and riders, cost, and the availability of living benefits.
We may receive compensation if you visit Our Featured Partners. For more info, read our advertiser disclosure.
AM Best Rating:AM Best is a credit rating agency that assigns insurance companies a letter grade from “A++” to “D.” A company’s grade indicates its ability to pay its claims and honor its financial obligations.
A+
For the most personalized quote experience, call Nationwide directly at 844-457-7984.
Why We Chose It
Three living benefits included with most policies, generous no-exam requirements, strong financials, and satisfied customers make Nationwide our top pick.
Pros & Cons
Pros
No-exam life insurance available to very healthy applicants
The company garnered an A+ (Superior) financial stability rating from AM Best and received very few customer complaints over the past three years. It also boasts a wide range of policy types and riders, no-exam life insurance for healthy applicants, and most policies include three accelerated death benefit riders at no upfront cost for chronic, critical, and terminal illnesses. This was a rare offering among the insurance companies we considered. Its host of exceptional features puts it squarely at the top of our best life insurance companies list.
Plans & Pricing
Nationwide offers term policies as well as traditional whole life insurance, universal life insurance (UL), variable universal life insurance (VUL), and indexed universal life insurance (IUL).
Guaranteed Level Term
Whole Life 100 and 20Pay Whole Life
No-Lapse Guarantee UL II (universal life insurance)
VUL Accumulator (variable life insurance)
VUL Protector
Advisory VUL
IUL Accumulator II 2020 (indexed universal life insurance)
IUL Protector II 2020
Survivorship IUL 2020
Nationwide's indexed policies let you participate in stock market gains, but without direct market exposure. Cash value growth is tied to the S&P 500, NASDAQ-100 and/or the Dow Jones Industrial Average. Though not as risky as variable life insurance, these policies are complex and can still lose value when market gains aren’t enough to offset policy expense.
Term pricing
We found that a healthy 40-year-old female would pay $26.25 per month for a $250,000 30-year term policy.
AM Best Rating:AM Best is a credit rating agency that assigns insurance companies a letter grade from “A++” to “D.” A company’s grade indicates its ability to pay its claims and honor its financial obligations.
A++
MassMutual is top-ranked for financial strength, has paid dividends every year since 1869, has few complaints, and a wide selection of policies.
Pros & Cons
Pros
Rated A++ for financial stability
Long history of paying dividends
Very few complaints
Liberal term conversion options
Cons
Few accelerated benefit riders included at no cost
Doesn’t accept credit card payments
Overview
MassMutual stands out for a number of reasons. It has an A++ (Superior) financial rating from AM Best. This is the highest rating a company can receive and indicates a “superior” ability to pay claims. MassMutual’s dividend-paying history also adds to its clout: Every year since 1869, eligible policyholders have received life insurance dividends. In 2023, MassMutual plans to pay $1.9 billion in dividends, which is its largest payout ever. Plus, the company has received very few complaints, according to NAIC data over the past three years, and offers a wide range of policy types.
It’s worth noting that owners of MassMutual term policies can convert to any of MassMutual’s permanent policies. This is important because some companies limit the types of policies you can convert your term policy into. (Convertible term life insurance allows you to exchange some or all of your term coverage for permanent without having to re-qualify for life insurance.)
Plans & Pricing
MassMutual offers term life insurance, whole life insurance, universal life insurance, and variable universal life insurance.
MassMutual Term
Whole Life 100
Whole Life 65
Whole Life 10/15/20-Pay
Whole Life High Early Cash Value (HECV)
MassMutual’s whole-life policyholders are eligible to receive annual dividends based on the company’s financial performance. Dividends can be used to increase the death benefit or cash value, or pay premiums.
Universal Life (UL) Guard
Survivorship Universal Life (SUL) Guard
Apex VUL (variable universal life insurance)
Some universal life insurance policies can be structured like term coverage, where the coverage is designed to remain in effect for a fixed period of time.
Term pricing
We found that a healthy 40-year-old female would pay $27.26 per month for a $250,000 30-year MassMutual term policy.
AM Best Rating:AM Best is a credit rating agency that assigns insurance companies a letter grade from “A++” to “D.” A company’s grade indicates its ability to pay its claims and honor its financial obligations.
A++
Haven Life offers a seamless and nearly effortless online quote, application, and buying experience. Plus, it's backed by the A++ (Superior) financial standing of MassMutual.
Pros & Cons
Pros
Easy-to-navigate website
Online application
Same-day decision
A++ financial strength
Excellent pricing
Cons
Only term life insurance is available
Term policies are non-convertible
Limited riders
Overview
Haven Life's website is what all other life insurance websites should aspire to be. The quote and application processes are seamless and entirely online. You don't have to provide any personal information until you decide to apply, and brief educational blurbs are well-placed to guide and address any questions you may have. But if you still need help, an agent is just a click away via live chat; or you can choose to call in instead.
Plus, Haven has some of the lowest term pricing of the companies we reviewed. And if you opt for a no-medical-exam life insurance policy, you may be approved the same day. For these reasons, Haven places prominently in our review of the best term life insurance companies and best life insurance companies for young adults. The only strike against Haven Life is that its term policies are not convertible to permanent coverage—an option that 89% of the term life insurance companies we reviewed offer.
Plans & Pricing
Haven Term (medical exam required/higher coverage limits)
Haven Simple (no medical exam/lower coverage limits)
Term Pricing
We found that a healthy 40-year-old female would pay $22.90 per month for a $250,000 30-year term policy.
Available Riders
Waiver of premium rider
Accelerated death benefit rider (terminal illness)
AM Best Rating:AM Best is a credit rating agency that assigns insurance companies a letter grade from “A++” to “D.” A company’s grade indicates its ability to pay its claims and honor its financial obligations.
A+
Protective's term policies are the most affordable of all insurers we reviewed (tied with two others), and it offers terms up to 40 years, which is uncommon.
Pros & Cons
Pros
Tied for least-expensive term policies
Offers term coverage for up to 40 years
Allows credit card payments
Offers no-medical-exam coverage
Cons
Ranked 15th out of 22 companies for customer satisfaction
Protective offers 40-year term policies, which is uncommon in the industry—most companies cap terms at 30 years—and it received fewer complaints than expected for a company of its size over the past three years. The company also offers generous child riders on its policies, which makes it a good life insurance company for children.
However, Protective ranked lower than the industry average in J.D. Power’s 2022 U.S. Individual Life Insurance Study, coming in at #15 out of 22 companies.
Plans & Pricing
Protective offers term, whole life, universal life, variable universal life, and indexed universal life insurance policies.
Protective Classic Choice Term
Non-Participating Whole Life
Custom Choice Universal Life (UL)
Advantage Choice UL
Lifetime Assurance UL
Survivor UL
Executive UL
Strategic Objectives II VUL (variable universal life insurance)
Indexed Choice UL
Term Pricing
We found that a healthy 40-year-old female would pay $22.88 per month for a $250,000 30-year term policy.
According to Protective, its premiums are usually among the three across all issue ages and face amounts—and our research supports this for term policies.
Best Life Insurance Living Benefits:
Mutual of Omaha
Investopedia's Rating
4.4
AM Best Rating:AM Best is a credit rating agency that assigns insurance companies a letter grade from “A++” to “D.” A company’s grade indicates its ability to pay its claims and honor its financial obligations.
A+
Mutual of Omaha offers a wide range of riders, and most include at least two living benefits. Plus, the company has an express-issue indexed life insurance policy and offers a return-of-premium (ROP) term life insurance plan.
Pros & Cons
Pros
Many plans with living benefits
Wide range of riders available
Guaranteed issue options
Return of premium term available
Cons
Online applications unavailable for term policies
Overview
At no upfront cost, Mutual of Omaha includes three accelerated benefit riders on its Term Life Express and IUL Express policies (for critical, chronic, and terminal illnesses), and most other policies include two of these benefits. These attributes make it our choice for the best life insurance company for living benefits. Accelerated benefit riders add flexibility to a life insurance policy by letting you tap the death benefit early if you have a qualifying illness.
Plus the company offers at least two uncommon features: a disability income rider and a return of premium benefit on select term policies (both for an extra cost). With return of premium (ROP) term life insurance, you can receive up to 100% of premiums back if you outlive the term. Only 11 of the 91 life insurance companies we reviewed make this type of coverage available. Mutual of Omaha is also our top pick for the best burial insurance companies.
Plans & Pricing
Term Life Answers
Term Life Express
AccumUL Answers (universal life insurance)
Income Advantage IUL (index universal life insurance)
Life Protection Advantage IUL
IUL Express
Children’s Whole Life Insurance
Guaranteed Whole Life Insurance
Most permanent policies have a surrender period, during which time you’ll pay a surrender charge for withdrawing from the cash value or canceling the policy. Ask how long the surrender period is on any permanent life insurance you might buy.
Term Pricing
We found that a healthy 40-year-old female would pay $28.38 per month for a $250,000 30-year term policy.
Available Riders
Chronic, critical, and terminal illness riders are included free of charge on Mutual of Omaha’s Term Life Express and IUL Express policies. Most other policies include chronic and terminal illness riders at no additional cost.
AM Best Rating:AM Best is a credit rating agency that assigns insurance companies a letter grade from “A++” to “D.” A company’s grade indicates its ability to pay its claims and honor its financial obligations.
A++
Guardian received an exceptionally low number of customer complaints, has an A++ (Superior) financial strength rating, and pays dividends to eligible policyholders.
Pros & Cons
Pros
Below average number of complaints over three years
Receives an A++ for financial stability
Whole life policies are eligible for dividends
Cons
Online application and claim filing not available
Credit card payments not accepted
Overview
Along with MassMutual and New York Life, Guardian is one of only nine companies we reviewed to earn a top financial strength rating of A++ from AM Best, reflecting superior financial stability. Also like MassMutual and New York Life, Guardian offers dividends to eligible whole-life policyholders and announced its largest dividend payment ever for 2023 at $1.26 billion to eligible policyholders. For these reasons it ranked highly for:
Guardian Life received a below-average number of complaints with the NAIC over the past three years of available data. Additionally, the company offers no-exam policies to eligible applicants.But if you’re seeking a streamlined online experience, Guardian falls short. It doesn’t offer an online application process (without an agent), online claim filing, or credit card payments, and information on its individual product offerings is hard to find.
Plans & Pricing
Guardian Level Term
Guardian Level Premium Whole Life
Limited Pay Whole Life
Variable Universal Life Insurance
Term Pricing
We found that a healthy 40-year-old female would pay $27.47 per month for a $250,000 30-year term policy.
AM Best Rating:AM Best is a credit rating agency that assigns insurance companies a letter grade from “A++” to “D.” A company’s grade indicates its ability to pay its claims and honor its financial obligations.
A++
USAA offers military-specific benefits that pay out if you become injured in the line of duty and cover you during war.
Pros & Cons
Pros
Severe injury benefits
Add to your term coverage without taking another exam
Included term conversion rider
A++ AM Best rating
Cons
Doesn’t take credit card payments
No-exam coverage options are limited
Overview
What makes USAA a solid choice for military families are its military-specific riders. Level Term V policies include a severe injury rider that pays out $25,000 for specific injuries incurred during military service. USAA also offers guaranteed insurability riders at no additional cost that give you the option to increase coverage after leaving the military (and without having to prove insurability) or if you experience certain life events, like having a child. Level Term V policies also include a conversion option that allows you to convert to permanent coverage without a medical exam or questions after you've had your term policy for at least one year.
The drawbacks are that USAA life insurance does not accept credit card payments and has limited no-medical-exam options. USAA sells Mutual of Omaha's guaranteed issue whole life policies that have a minimum age of 45 and a coverage maximum of just $25,000.
Plans & Pricing
Level Term V
Essential Term
Simplified Whole Life
Guaranteed Issue Whole Life (via Mutual of Omaha)
Universal Life Insurance (via John Hancock)
Term Pricing
We found that a healthy 40-year-old female would pay $26.86 per month for a $250,000 30-year term policy.
AM Best Rating:AM Best is a credit rating agency that assigns insurance companies a letter grade from “A++” to “D.” A company’s grade indicates its ability to pay its claims and honor its financial obligations.
A+
Penn Mutual has paid dividends for nearly 175 years and offers up to $7.5 million in coverage for no-medical-exam life insurance to eligible applicants—the highest limit we've seen.
Pros & Cons
Pros
Strong dividend-paying history
High coverage no-medical-exam life insurance
Well-priced term policies
Very few customer complaints
Cons
Limited website information
Quotes not available on the website
Overview
Penn Mutual is a well-established insurer with superior financial strength and an impressive track record of customer satisfaction. It has the longest dividend-paying history of companies on this list and announced that it plans to pay eligible policyholders $1.63 million in dividends in 2023, which is a record payout.
Penn Mutual is also an excellent choice for those with high-coverage needs. The company offers $7.5 million in coverage to very healthy applicants up to age 65 without a medical exam. This is the highest no-exam limit we've seen, and the highest age limit we've seen for no-exam policies, which is why it's a top pick for:
But Penn Mutual doesn't just cater to those looking for high coverage or permanent policies. Its quotes for term coverage were the fourth most affordable of the 32 companies we collected quotes for. That said, the company does not make term quotes available on its website. For details and to apply for any type of coverage, you'll need to get in touch with an agent.
Plans & Pricing
Guaranteed Convertible Term
Protection Non-Convertible Term
One-Year Term
Guaranteed Whole Life II
Survivorship Whole Life
Guaranteed Protection UL (universal life insurance)
Protection UL
Diversified Advantage Variable Universal Life (VUL)
Protection VUL
Accumulation Builder Flex Indexed Universal Life (IUL)
Survivorship Plus Select IUL
Term Pricing
We found that a healthy 40-year-old female would pay $23.92 per month for a $250,000 30-year term policy.
AM Best Rating:AM Best is a credit rating agency that assigns insurance companies a letter grade from “A++” to “D.” A company’s grade indicates its ability to pay its claims and honor its financial obligations.
A+
Term premiums were the lowest of all insurers we reviewed (tied with two other companies), and Banner offers terms up to 40 years.
Pros & Cons
Pros
Term coverage is very affordable
40-year terms available
Generous term conversion period
Online application available
Very few customer complaints
Cons
Few policy types available
Limited riders
Overview
Banner, along with Protective and Haven, is an excellent choice if you're looking for the cheapest term life insurance. Banner is also one of only two companies that offer 40-year term policies (Protective is the other). Additionally, Banner boasts generous term conversion options—you can convert your term policy through the end of the level-premium period or until you turn 70, whichever happens first. This is important because some companies limit the conversion period to the first 10 years of the policy.
While there's a lot to like about Banner, it doesn't offer many policy options—just term and universal life policies. It also doesn't offer as many riders to customize policies as some of its competitors.
Plans & Pricing
OPTerm
Life Step UL (universal life insurance)
Term Pricing
We found that a healthy 40-year-old female would pay $22.89 per month for a $250,000 30-year term policy.
Best for Customer Satisfaction:
State Farm Life Insurance
Investopedia's Rating
4.0
AM Best Rating:AM Best is a credit rating agency that assigns insurance companies a letter grade from “A++” to “D.” A company’s grade indicates its ability to pay its claims and honor its financial obligations.
A++
State Farm has earned the #1 spot in J.D. Power's customer satisfaction rankings for life insurance for the past three years.
Pros & Cons
Pros
Superior financial stability
#1 for customer satisfaction by J.D. Power
Whole life policies can earn dividends
Bundling discounts may be available
Cons
Relatively expensive term coverage
Limited coverage for no-medical-exam life insurance
Overview
State Farm is our pick for best life insurance company for customer satisfaction because it ranked #1 in J.D. Power's U.S. Individual Life Insurance studies for 2022, 2021, and 2020. The studies measured consumer experiences with the largest life insurance companies nationwide. Plus, State Farm boasts an A++ (Superior) rating for financial strength from AM Best, which is the highest rating possible.
If you're looking for a whole life policy that pays dividends, State Farm offers one. Plus, you may be able to save on your premium by bundling life insurance coverage with another State Farm coverage, such as auto. However, the company's term policies are priced high compared to our review of 32 life insurance companies offering term quotes online. And if you're in the market for life insurance without a medical exam, you may want to look elsewhere. At present, the most coverage you can get with State Farm without a medical exam is $50,000.
Plans & Pricing
Select Term Life
Return of Premium Life
Instant Answer Term
Limited Pay Whole Life
Single Premium Whole Life
Universal Life
Survivorship Universal Life
Joint Universal Life
Final Expense (called $10,000 Whole Life in New York State)
Term Pricing
We found that a healthy 40-year-old female would pay $35.24 per month for a $250,000 30-year term policy, which is one of the highest rates we've seen.
AM Best Rating:AM Best is a credit rating agency that assigns insurance companies a letter grade from “A++” to “D.” A company’s grade indicates its ability to pay its claims and honor its financial obligations.
A++
New York Life is the second-largest life insurance company, according to the latest available NAIC data, and has been paying dividends to eligible policyholders every year for the past 169 years.
Pros & Cons
Pros
A++ (Superior) AM Best rating
Long history of paying dividends
Some policies available to applicants up to 90 years old
Broad selection of riders
Cons
Very limited policy details on the website
Can’t get much information without contacting an agent
Online quotes and applications not available
Overview
New York Life, founded in 1845, is the oldest company on this list and has paid dividends for 169 consecutive years. In 2023, it plans to pay $2 billion in dividends, which is the largest payout in company history.
New York Life earns an A++ (Superior) AM Best rating and receives very few customer complaints.It also issues whole life policies to eligible 90-year-old applicants. Its stellar reputation and financial stability are two reasons it's a top-ranked company for best life insurance for seniors and best whole life insurance companies.
The company offers term, whole life, and universal life policies, including variable universal life (VUL) insurance, plus a diverse mix of riders and options for plan customization. Among these are living benefits riders and a Spouse’s Paid-Up Purchase Option (SPPO). The SPPO is an uncommon offering that lets the spouse of the insured person use the death benefit to purchase a fully-paid-up life insurance policy on their own life (without medical underwriting) upon their spouse's passing.
Unfortunately, it’s difficult to locate policy-specific information on the website. If you have questions or want a quote, you’ll need to provide your name and number and wait for an agent to contact you.
Compare the Best Life Insurance Companies of February 2023
Overall Rating
Best For
AM Best Rating
AM Best is a credit rating agency that assigns insurance companies a letter grade from “A++” to “D.” A company’s grade indicates its ability to pay its claims and honor its financial obligations.
*Life insurance quotes are for a 30-year $250,000 term policy for a non-smoking 40-year-old female in excellent health.
Final Verdict
When choosing a life insurance company, it’d be hard to go wrong with any of the companies on this list. But if you’re not sure which type of policy you want, start with Nationwide. It makes the process easy with online quotes and applications, a wide range of policy types, and up to $5 million in no-med-exam coverage to eligible applicants.
Most companies on this list received at least an A+ (Superior) rating from AM Best for financial strength. But if only the absolute best will do, MassMutual, Guardian, USAA, and New York Life all have A++ (Superior) AM Best ratings. And most are solid choices for dividend-paying policies as well.
If you want the most affordable term life insurance, Protective, Banner, and Haven are top picks. And for a policy packed with no-cost living benefits, consider Mutual of Omaha, Nationwide, or USAA (if you’re in the military).
1:28
What Is Life Insurance?
How Much Does Life Insurance Cost?
Term life insurance can cost as little as $13 per month, on average, for a $250,000 30-year policy for a healthy 25-year-old. Or, the same policy could cost around $400 for a 65-year-old smoker. The monthly cost of whole life insurance for the same amount of coverage is over $100 per month for a healthy 25-year-old, and almost $1,000 for a 65-year-old smoker.
Average Life Insurance Cost ($250,000 30-year term policy)
Company
25 years old (average)
40 years old (average)
55 years old (average)
Nationwide
$20.89
$28.88
$99.97 (Female only)
MassMutual
$18.15
$29.58
$122.46
Haven Life
$18.15
$25.51
NA
Protective
$16.06
$25.66
$107.12
Banner
$16.07
$25.71
$107.91
Mutual of Omaha
$19.68
$31.39
$137.39
Guardian
$19.53
$31.65
$110.49
USAA
$20.82
$30.09
NA
Lincoln Financial
$17.25
$26.36
$114.05
Penn Mutual
$16.78
$26.48
$110.38
Transamerica
$16.99
$35.70
$128.68
New York Life
--
--
--
*Life insurance quotes above are examples only and were collected for 30-year $250,000 term life insurance policies for non-smoking males and females ages 25, 40, and 55 in excellent health.
Does Life Insurance Cover Covid-19?
Yes, life insurance covers death from Covid-19 if the policy is active when the insured person passes away. The life insurance industry had two record-breaking years in 2020 and 2021 for life insurance payouts (data is not yet available for 2022); with over $100 billion paid out to beneficiaries in 2021, according to the American Council of Life Insurers.
Term vs. Whole Life Insurance
Life insurance can be divided into two main types: term and permanent. Term life insurance policies only provide coverage for a certain period of time, such as 30 years. Permanent policies are sold as either universal or whole life insurance; they’re designed to offer coverage for the duration of your natural life.
Life insurance is a contract between a policyowner and an insurance company. In exchange for premium payments, an insurance company will pay a death benefit to your beneficiaries if you pass away while the policy is in force. The money is received tax-free, and beneficiaries can use it for whatever purpose they choose.
How To Choose the Best Life Insurance Company
To choose the best life insurance company, consider financial strength, customer complaints, customer satisfaction, available policy types, available and included riders, and ease of application. Then, collect quotes among your top picks. Doing this homework will ensure you choose a company that offers a policy that suits your needs and will be there when your family needs it.
Consider these factors when choosing your life insurance company:
Financial Strength
Check AM Best ratings for financial stability. A++ and A+ ratings are considered “superior,” while A and A- are considered “excellent.” Other agencies also rate insurance companies, including Moody's, Fitch, Standard & Poor's, and Demotech.
Customer Complaints
The National Association of Insurance Commissioners (NAIC) uses customer complaints to create the NAIC complaint index, which indicates whether a company received more or fewer complaints than expected, based on its market share. An index lower than 1 indicates the company received fewer complaints than expected, while a number over 1 means it got more than expected. The higher the index, the more customers complain, and vice versa.
If you know which type of insurance you need, make sure each company you’re considering offers it. But note that a whole life policy with one company can be very different from a whole life policy with another. Though policies between companies might have the same name, each company tries to make its product stand out. Make sure their efforts suit your needs.
Available and Included Riders
This is a major way that same-named policies can differ. For example, a universal life policy with one company might include a generous accelerated death benefit rider at no cost, while a UL policy with another company may not. Or a term policy with one company may allow you to convert it to permanent coverage, while a term policy with another company may not. Research riders to know what you’re paying for.
Ease of Application
Sometimes the biggest barrier to getting a life insurance policy is the application process. And often, it’s better to get some coverage in place—especially if you have dependents—than it is to find the absolute best coverage you can. If you’re too busy for an exam, look for companies that don’t require one.
If you’re healthy, you want to choose companies that offer an accelerated underwriting process, which means they’ll ask thorough health questions on the application. Otherwise, you could end up paying more than you need to.
Methodology
In order to compile our list of the best life insurance companies, we developed a comprehensive life insurance methodology. We started off by researching what consumers want from life insurance companies, and for that, we looked to third-party consumer studies, including J.D. Power’s 2022 Individual Life Insurance and Annuities studies and the 2022 Insurance Barometer Study, by Life Happens and LIMRA. With those findings in mind, we gathered more than 50 data points on 91 life insurance companies, including ratings for financial strength by AM Best, customer satisfaction, and individual customer complaints reported to insurance state commissioners and recorded by the NAIC (National Association of Insurance Commissioners). We also considered years in business, cost, online tools, no-medical-exam options, policy types and features, and available riders.
Our review process gave preference to companies with superior financial stability, few customer complaints, and a robust suite of products and resources. In particular, we valued online quoting and application tools, transparent pricing, and no-exam policy options. Companies received ratings boosts if customer service was accessible via features like live chat. We ranked each company according to the following categories and weights.
Customer education, application, and online service features: 32%
Policy types, features, and riders: 29%
Financial stability: 17%
Customer satisfaction ratings: 15%
Cost: 8%
We compared individual offerings between companies by delving deeper into product specifics, including maximum coverage amounts, maximum issue ages, included riders (in particular, the number and type of living benefits available at no upfront cost) , and product-specific application processes. We used this research to determine the best companies for different products and consumer groups, including term life insurance and seniors.
Of the companies we considered, those with the greatest financial stability, fewest complaints, lowest cost, most generous no-medical-exam options, and most features scored the highest across categories.
Article Sources
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