Buying life insurance is one of the biggest financial decisions you’ll ever make. The right life insurance policy protects your family’s future and gives you peace of mind that they’ll always be taken care of, no matter what. You might be tempted to buy a policy from the most familiar name – but that company may not be best for you.
In order to compare life insurance companies, you should look at satisfaction ratings from customer satisfaction groups like J.D. Power and the Better Business Bureau, financial strength from firms like A.M. Best, and the best rates for your individual circumstances and health history. You should also consider what companies work best for individual health and lifestyles, which we’ll discuss below.
And always make sure to compare life insurance quotes before choosing a policy so you can make an informed decision.
The Best Life Insurance Companies
|Company||J.D. Power Rating||BBB Rating||A.M. Best Rating||Market Share||Compare Now|
|MetLife (via Brighthouse)||799||B-||A+||7.88%||Get quotes|
|Northwestern Mutual||799||A+||A++||6.30%||Get quotes|
|New York Life||774||B-||A++||5.48%||Get quotes|
|Lincoln Financial||744||A+||A+||4.30%||Get quotes|
|John Hancock||739||A+||A+||2.85%||Get quotes|
|State Farm||828||B||A++||2.74%||Get quotes|
|Minnesota Life (Securian)||N/A||A+||A+||2.44%||Get quotes|
|Guardian Life||760||A+||A++||2.39%||Get quotes|
|AXA Equitable||752||A+||A+||1.92%||Get quotes|
|Pacific Life||N/A||A+||A+||1.89%||Get quotes|
|Mutual of Omaha||766||A+||A+||1.23%||Get quotes|
|Principal Financial||774||A+||A+||1.07%||Get quotes|
|Banner Life||N/A||A+||A+||0.69%||Get quotes|
We compared twenty-two of the best-known and largest life insurance companies, and ranked them according to:
- J.D. Power score: J.D. Power ranks some (but not all) of the top life insurance companies on customer satisfaction on a scale from 1 - 1,000.
- BBB rating: Customer satisfaction score ranging from A+ to F based on BBB’s own formula of 17 factors.
- A.M. Best score: Financial health rating, with A++ and A+ being “superior” and A being “excellent”.
- Market share: The percent of total U.S. life insurance customers each company serves. Data sourced from NAIC.
How to Choose the Best Life Insurance Company For You
Shoppers should select the best life insurance company by looking at their customer service rankings, financial ratings, and policy cost, as well as which companies best serve their individual need health history and personal circumstances.
For instance a person who recently lost weight may find a great rate with one company, while someone who recently quit smoking or has a family history of cancer might find a more accommodating quote with a different company.
That’s why it’s so important to compare quotes and find the right policy for you. You’re unique, and your individual rate will be determined during the application process. Learn more about scenarios that may apply to you:
- Best life insurance companies for millennials
- Best life insurance companies for Generation X-ers
- Best life insurance companies for baby boomers
- Best life insurance companies for military personnel
- Best life insurance companies for visa or greencard holders
- Best life insurance companies for marijuana users
- Best life insurance companies for people who quit smoking
- Best life insurance companies for people who lost weight
- Best life insurance companies for people with diabetes
- Best life insurance companies for people with high cholesterol
- Best life insurance companies for people with sleep apnea
- Best life insurance companies for people with depression
- Best life insurance companies for high net worth individuals
- Best life insurance companies for scuba divers
Types of Life Insurance
Term life insurance is the most common type of life insurance and is usually the best choice for most people, but there are are several types of term and permanent life insurance to choose from.
Types of Term Life Insurance
Types of Permanent Life Insurance
It’s important to understand your life insurance options before you buy, and to compare quotes from different insurers to make sure you’re getting the best deal tailored to your specific needs. Not sure how much coverage you need? Our life insurance calculator can calculate your needs in 5 minutes or less.
Last updated on Nov 15th 2017