By | May 1, 2020

Best Insurance Life Companies – Life happens, and we must be ready to face it head-on, and this where the best insurance life companies come in. Certain life events will necessitate that you purchase a life insurance policy to protect the people who depend on you, and when you do, you should get the very best.

List of Best Insurance Life Companies

What is Life Insurance

Life insurance is a plan from an insurer that offers financial protection to your family depending on your coverage preferences. There are various life insurance policies to choose from.

How to Choose the Best Insurance Life Companies

When it comes to choosing a life insurance company, you have many types to choose from. Thus, the best way to choose a policy is to understand the basics of life insurance and make an informed decision depending on the best match for company reputation, specific policy features, pricing, and personal circumstances.

Since you have hundreds to choose from, here are a few features to guide you in making a choice:

Product Offerings

Some insurance companies offer a range of insurance products  so this gives you the opportunity of choosing a company that offers the product and features that tallies with what you need. This may include variable premiums, term insurance of a particular insurance, health checkups, or riders to customize the policy.

Price

Before you commit to any insurer, make sure you check it’s Net Payment Cost Index and it’s Surrender Cost Index. The Surrender Cost Index should be used if the insurance is only meant for a certain period of time, while the Net Payment Cost Index on the other hand should be used if the policy is going to be kept indefinitely. Note that, the lower the cost index, the better.

Customer Service

The company you decide on should have a strong customer service base that can help you in handling all the complexities that comes with insurance. So you should look for a company that has agents available nearby, and those that have high ratings of customer service agencies.

Financial Strength

Engage with a company that has a good financial health, with a wide customer base, and one that will still be around in 20 or 30 years’ time. You can check to see if a company is doing well financially and see their ratings using the independent rating agencies.

Identity

Ensure that you confirm the full name, address, and affiliation of any company that you want to consider, as more than one company may have similar sounding names.

Claims

Those who wish to buy, can check a national claims database to see if the insurance company under consideration has had many complaints about its services linking to the number of policies sold.

Now let’s see these companies and what they offer:

Best Insurance Life Companies

MassMutual

Founded in 1851, MassMutual offers policies for whole life insurance, term life insurance, universal life insurance as well as variable universal life insurance. This company also offers additional protection plans for long-term care and disability income.

MassMutual’s website is simple and easy to scroll through, with clear and straightforward terms, and buyers can even get instantly approved for a term life insurance policy online.

Northwestern Mutual

Northwestern Mutual carries a wide array of products like whole life, term life, and universal life. It also offers disability insurance, long-term care, and annuities in addition to financial planning and retirement planning services.

With Northwestern Mutual, you can decide to set up a term life policy with fixed payments throughout the duration of your term or start paying low premiums that increase every year. It’s application process is quite straightforward, and the billing structure is easy to manage.

Pacific Life

Pacific Life is an insurance company with a 150 years history, that offers mutual funds, annuities, and additional solutions for things like commercial real estate and pension risk-transfer.

It’s policy options includes, term life insurance, whole life insurance, universal life insurance, indexed universal life insurance, variable universal life insurance, and life insurance with long-term care benefits.

Pacific Life electronic application is short and very easy to fill out and you can even get your policy delivered through mail. You can easily update and manage your account online if you want to change your beneficiaries.

New York Life

Apart from offering life insurance policies,, they also offer investment vehicles for annuities, mutual funds, ETFs, and 529 plans, retirement income services, estate planning, wealth management, and long-term care plans.

Buyers can get a life insurance policy from one of the following categories: term life, whole life, universal life and variable universal life.

Based on your preferred plan, you’ll have the flexibility to customize your payment schedule and pay off coverage early. It also offers a life insurance add-on to protect you if a disability or terminal illness occurs.

State Farm

State Farm insurance is among the most popular brands in the insurance market. It offers a wide range of insurance products like renters insurance, home insurance, car insurance, supplemental health plans, personal and professional liability policies and identity restoration insurance.

State Farm offers, term life, whole life, and universal life policies and buyers can get a term life insurance policy for 10, 20, or 30 years depending on their situation, which are renewable up to age 95.

You are now at liberty to choose the one that best suits your needs. You can carry out a research and compare quotes to be doubly sure you are making the right decision.