5 Best Companies for Life Insurance
Life insurance is an integral part of your financial plan, but it is also the one you wish you or your family never have to use. Life insurance covers the expenses needed after your death or covers the amount of your salary after your untimely death. Different companies that offer life insurance have different policies, price ranges, and different benefits for you.
It is important to complete research on the companies and your own needs before choosing any company or policy for life insurance. Your family’s financial plan depends on it if something happens to you.
Don’t worry, you don’t have to do the rigorous research as we have already done that for you. From a list of 30 companies, we selected 5 life insurance companies for which are the best for different goals and policies to choose from.
Prudential is the best company for life insurance because it has options for every kind of consumer. This company is popular for financial strength as it has been in the business for over 140 years. This company has excellent ratings and it has multiple policy options that you can choose from.
Having multiple riders for your policy, long history of the company, great ratings, and instant online quote for term life insurance are some of the pros of this company. The only disadvantage is that you cannot get an online quotation for permanent life insurance.
2. State Farm
State Farm is also a company that you can rely on for life insurance. Like Prudential, State Form also has a long history of providing life insurance. The reason that this company has excellent ratings is their fast process. Because of their instant issue policy, you can get the coverage without any hassle and even without a medical exam.
From State Farm, you can get free quotes for all kinds of insurance policies. In the Life Insurance study done by J.D. Power 2019, State Farm was chosen as the second-highest in the USA. The only problem with this company is that they are not licensed in Massachusetts, New York, or Wisconsin.
Transamerica is one of the best life insurance companies. They are a very reliable company and their term life insurance coverage is very affordable for everyone. For permanent life insurance, you need to talk to an agent to get the quote but for term insurance, you can easily get the quote online for free. Term policies, whole life insurance, index universal life insurance, final expense life insurance, and universal life insurance are some of the options that Transamerica offers you to choose from. This company is not licensed to sell in the state of New York and Columbia.
4. Northwestern Mutual
Northwestern Mutual is considered one of the best because of its great quality in all areas. They are also experts in whole life insurance and have a very good reputation. The company expects to pay out $6 billion in dividends on these policies throughout 2020. They pay very generous dividends and they also connect you with a financial advisor to guide you through the process of choosing the best insurance policy for you. Their business history is 160 years long and excellent reviews.
5. New York Life
New York Life is the best insurance company when it comes to having flexible term life insurance policies. Their financial rating is excellent too. You can get term insurance according to your needs and you can also convert it to permanent insurance. They offer four main types of insurance policies and their business history is 175 years long. They don’t provide the option of an online quotation for life insurance.