Which company offers the best life insurance policies in 2016?
We make use of a large number of top rated term life insurance companies. With this many companies it is vital that we stay up-to-date with each company’s unique niche during the marketplace.Knowing which company caters to various health and lifestyles enables us to simply help our clients find the best life insurance coverage rates by age from one of the better term life insurance policies available. Have you ever wondered who the most truly effective 10 best life insurance policies companies in the United States are? The answer you obtain will be different based on whom you ask plus the criteria they have been using. Individuals will often ask or look for What are some good life insurance companies? Or What’s the best life insurance coverage? That every relies on the meaning regarding the word “best”.
The criteria our company is using to ascertain who supplies the “best life insurance coverage” is dependent on the (1) prices offered, (2) products offered therefore the (3) unique niches the company fills. This informative article was written to assist those people who are attempting to decide which life insurance policies company to make use of with by giving potential applicants an insight about what SHOULD be happening throughout your initial life insurance coverage interview. Virtually every term life and life time insurance application will share many of the same questions. These questions should serve three purposes:
Help determine if you’ll qualify for any life insurance policies being applied for.
Determine what price you’ll wind up spending money on your life insurance.
And assuming you’re applying for protection through a life insurance broker, these questions also needs to help determine which life insurance coverage company would be the most effective for you!
The below top ten best life insurance policies companies of 2016 list is comprised of the carriers that people most regularly recommend to the clients along with a brief synopsis for each company’s strengths and weaknesses. Since each one of these carriers will potentially function as “best” life insurance coverage carrier for any given situation, we’ve chosen to list them in alphabetical order. We would like to state for the record that this list is a “fluid” one.
Fluid because, on any given day, any one of several dozen of different carriers that we represent may in fact change one of their underwriting guidelines. This is why it is critical to choose an agency that focuses primarily on placing term, universal and whole life insurance, in the place of other forms of insurance, such as for example health insurance and auto.
2016 Top Ten Best Life Insurance Companies
American General (AIG)
American National Insurance Carrier (ANICO)
Banner Life
Foresters Life Insurance Coverage
MetLife
North American Company
Protective Life Insurance Company
Prudential (Pruco)
SBLI
Transamerica
1. American General (AIG)
A.M. Best Company Rating: A (at the time of February 27, 2015)
American General life insurance policies Company is the right choice for most as they seem to be the “jack of all of the trades” within the insurance industry. The Company’s underwriting is flexible, their pricing falls right into the upper area of the industry average, and they have exceptional customer care. The next strengths help AIG Life rank for the greatest life insurance.
Strengths:
Great carrier for higher risk applicants, especially those looking for diabetic life insurance policies.
A 25 year term product (most term life insurance carriers only offer a 20 or 30 year term product). Particularly beneficial for those interested in a 30 year term but just aren’t comfortable with the price tag! You can also tailor your term to a particular length from 15-30 years.
American General has some of the greatest policies with living benefit riders. AG offers an accelerated death benefit rider free of charge. If you’re diagnosed terminally ill, you’re able to receive a percentage of the death benefit while you’re still alive, that could be used to help pay bills, hospice, or any other important matters.
American General offers among the better rates on Guaranteed Universal Life insurance to age 121. That is a set premium policy that becomes fully vested at age 121. If you die before age 121 it pays out the full face amount. If you reside beyond age 121 then you can certainly cash the policy in for the total face amount. Realistically, it really is basically a complete life policy that lasts your whole life however with a lowered premium. This can be a fantastic selection for business succession planning such as for instance funding a buy-sell agreement with term life insurance.
2. American National Insurance Carrier (ANICO)
A.M. Best Company Rating: A (as of September 2015)
American National insurance provider is yet another highly rated insurance carrier with great customer service that people offer to clients who are looking for traditional term or entire life insurance plan with or without the need to take a medical exam. The products that ANICO offers that don’t require a medical exam are:
Freedom Term Life
No medical exam term life insurance policy.
Face amounts up to $250,000.
No exam term life for 10, 20 or 30 years.
Approval in less than 15 minutes.
ValueGuard Whole Life Insurance
No medical exam entire life insurance coverage.
Face amounts as much as $150,000.
Approval in less than 15 minutes.
And Legacy Life Time Insurance
No exam with no health questions guaranteed issue whole life insurance.
Coverage available up to $25,000.
Designed for ages 50-80.
2 year Graded Death Benefit (When you die in the 1st 2 years policy returns 110% of premium paid).
You’ll have coverage in as fast as five minutes.
Fixed premiums and fixed death benefit.
Strengths:
American National is one of the best life insurance coverage companies readily available for no medical exam protection.
With a no health check term policy for as much as $250,000 and a no medical exam life time policy for as much as $150,000, ANICO Direct offers clients a fantastic alternative to a far more traditional medical exam term or expereince of living policy.
Offering some of the best no exam life insurance policies policies options. These policies be useful if you want coverage fast, for things such as divorce decrees.
Banner Life
A.M. Best Company rating: A+ (affirmed as of July 02, 2015)
What would a high 10 set of the greatest life insurance companies in the usa be without Banner? Banner Life is Legal and General’s flagship term life insurance company in the usa and another of our favorite carriers to publish; not merely because of their A+ rating, but also for their exceptional service and price.
Banner will typically be among the lowest priced insurance products available to our clients. And what exactly is nice about them is that they’re underwriting is usually quite liberal.
Strengths:
Great carrier for higher risk applicants especially type 2 diabetics and type 1 diabetics.
Banner Life policies are renewable and convertible to your age 95 (most competitors only allow policies to become renewed to age 90).
Excellent pricing on table rates (i.e. rates below standard).
Banner Life offers an accelerated death benefit rider free of charge.
Foresters Life Insurance
A.M. Best Company Rating: A (rating affirmed July 1, 2015)
Most likely the hardest thing about writing a life insurance coverage with Foresters Life Insurance company could be the work that it takes to familiarize a job candidate with who they really are. Foresters is an excellent insurance carrier that is willing to offer traditional term and expereince of living insurance coverage for a few of the very tough to place cases.
As an example:
We recently had a top risk term life insurance applicant get approved that has a stent placed in 2010 and is currently receiving SSI disability benefits as a result of his inability to keep his previous type of work! If you’re familiar with the life span insurance industry you’ll realize that not many life insurance policies carriers are prepared to take on such a client.
Strengths:
Strong manufacturer product line offering most of the best life insurance coverage policies.
Foresters offers term life insurance, whole life insurance, universal life insurance coverage, final expense and accidental death insurance.
Extremely liberal underwriting guidelines.
Competitive pricing.
MetLife
A.M. Best Company Rating: A+ (as of January 14, 2016)
MetLife is an excellent insurance provider recognized for their financial strength and great customer support. If the company is competitive for price, they’re usually a fantastic fit.
Strengths:
MetLife is great about insuring active military personnel.
MetLife additionally needs to be viewed for just about any type 1 diabetics.
Marijuana life insurance coverage experts.
United states Company For A Lifetime and Medical Insurance
A.M. Best Company Rating: A+ (as of June 3, 2015)
United states Company is quickly rising in fame, offering some of the best life insurance coverage in 2016. And don’t allow the name fool you, just because the name North American Company for Life and Health Insurance does not 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 company, North American Company for a lifetime and Health Insurance has consistently demonstrated that, through sound investments in secure and stable assets, it may keep up with the highest A.M. Best rating in financial strength and stability.
Strengths:
Solid product line offering some of the best life insurance policies policies, including term life, universal life and indexed universal life insurance.
Exceptional Customer Service.
Protective Life Insurance Company
A.M. Best Company Rating: A+ (as of April 28, 2015)
Similar to Banner Life above, no top ten selection of the greatest term life insurance companies in the usa is complete if it will 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 in that way since 1907.
Now throw in that they’ve been nearly always the best priced term life insurance carrier on the market and it’s also hard to think about a scenario when Protective should not at least be looked at as a potential choice.
Often individuals will ask “what life insurance policies companies pay out.” The answer could be that most life insurance policies companies within our list pay out. However, Protective is amongst the better companies at paying life insurance claims on time. In accordance with the Company’s website, the average processing time for a life insurance payout was 5.4 business days. That is a fantastic job by a fantastic company that puts the needs of the client, and his or her term life insurance beneficiaries, first.
Strengths:
Highly competitive pricing. Typically one of the more affordable—if not the most affordable option available.
Income Provider Rider: pays out death benefit over a period of time rather than lump sum payment. This is great for parents that do n’t need their children to take a lump sum.
Prudential (Pruco)
A.M. Best Company Rating: A+ (as of November 4, 2015)
Prudential, Pruco, or, “the Rock”, is regarded as those companies that everyone’s been aware of, everyone knows, and everybody feels comfortable dealing with.
We particularly like Prudential Life as they have made the financial decision to dominate certain “niches” inside the insurance industry. Prudential Life Insurance accomplishes this by assuming the best pricing in some areas but also by separating themselves from the herd through adopting unique underwriting guidelines with regards to:
Travel locales
Tobacco Use
Cancer Survivors
DUI’s
Diabetes.
Actual age as opposed to nearest age.
Which is the reason why under certain circumstances, Prudential Life will probably offer the best term life insurance policy around.
Strengths:
Creative underwriting.
Solid manufacturer product line.
Non U.S. Resident Life Insurance Policies.
Prudential will use an applicants true age in determining premium rather that rounding up or down based on which birthday is nearer to the date of application. A typical practice inside the life insurance industry known as “insurance age” vs “actual age.”
SBLI
A.M. Best Company Rating: A+ (as of August 18, 2015)
The self proclaimed “No Nonsense Life Insurance Company”, SBLI, in our experience, is merely that. Known throughout the industry as being one of the most customer-centric term life insurance carriers out there, SBLI seemingly have used its smaller size to permit it to offer great customer service, plus the lowest life insurance coverage rates in lots of categories, particularly for many happy to pay on an annual basis.
Strengths:
Great customer care.
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 now offers a yearly renewable term product if you are trying to find a shorter term such as those trying to cover an SBA loan with life insurance coverage.
Transamerica
A.M. Best Company rating A+ (as of November 2015).
Bookmarking the termination of our top ten best life insurance coverage companies list is Transamerica. Well-known for its trademark Pyramid, Transamerica life insurance coverage is definitely a top “go to” company, particularly for older clients.
The company’s term life insurance will come in three flavors: no medical term life insurance with a face amount limit of $249,999; term life with return of premium, and fully underwritten term life policy with regards to 10, 15, 20, 25, and three decades.
Transamerica also provides whole and universal life insurance coverage.
Strengths:
Excellent term life insurance for seniors;
Great living benefits life insurance coverage option
Although these companies would not make our top ten life insurance companies list, they deserve mention because they represent the most effective life insurance companies in their own personal right. At any given time, one of several carriers given just below, as well as dozens of other businesses, could be the most suitable choice for your needs. You can find out more about each company by clicking the links provided.
Voya Term Life Insurance Company
Sagicor Life Insurance Company (no medical exam term life and universal life)
United of Omaha Life Insurance Company (excellent “actual age” company for older clients)
The main Financial Group Life Insurance Company (No medical exam coverage up to one million dollars)
John Hancock life insurance policies Company – great for wealthy foreign nationals needing U.S. coverage.
Minnesota term life insurance Company – Great for people who recently quit smoking cigarettes.
AXA Equitable Life Insurance Company fills a niche with certain health underwriting and competitive pricing for many age brackets.
Gerber Life Insurance Company – one of the best guaranteed issue life insurance policies available for burial or final expense insurance.
Globe Life – Fills a niche for smaller simplified issue products.
Colonial Penn – Good choice if you’re unable to find regular coverage and you need certainly to layer final expense or burial policies.
AARP Life Insurance – not necessarily a life insurance company. The business uses New York City Life because of its life insurance policies.
State Farm Life Insurance – Solid company for auto or renters insurance when you need to bundle your lifetime insurance.
Veteran’s Group Life Insurance – great option when you yourself have an existing health condition.
And there you have it—the
Top 10 Best Life insurance firms in the U.S. for 2016
(Updated list at the time of May 25, 2016)
We list the date above because we offer a large number of the top rated term life insurance companies to select from and we’re constantly reviewing pricing and underwriting guideline changes making sure that we’re sure to remain together with any changes inside the industry.
Today’s top ten life insurance policies companies are definitely not going to be exactly the same down the road. Which is the reason why it is very important to you to select a term life insurance agency that isn’t bound to any company and whose main purpose is to look for your family the coverage you deserve.
