Insurance companies are constantly changing their plans and terms to stay competitive in a crowded market. Taking into account our experience, as well as each carrier’s updates, we’ve compiled our list of best life insurance companies for 2019.
Each company has made it to our list for various reasons, considering features such as price, underwriting time, product selection, and application process. However, we did our best to include the companies that rank highly overall, based on types of policies.
So, without further ado, here is Insurance Geek’s list of top life insurance companies in USA for 2019.
Term life insurance covers the policyholder for a designated period of time – usually 10, 20, or 30 years. Because this type of policy covers the insured for a shorter period of time, the rates are much more affordable than a permanent life policy. This type of policy is best for those who are looking for an affordable and flexible life insurance policy. Here, our top picks for best term life insurance companies:
Whole life insurance is a type of permanent life insurance that offers both death benefit protection and cash value build up. With this type of insurance policy, the death benefit and premium are locked in for life, regardless of whether the policyholder’s health declines.
Of all of the carriers that offer whole life insurance, these are the best:
Universal life, like whole life, is a type of permanent life insurance. However, universal life is considered to be more flexible than whole life. This is because a universal life insurance policyholder is allowed to change, within limits, their death benefit as well as the timing and the amount of their premium payments. Each time the insured pays the premium, the insurance company will allocate a portion of the payment to cover the cost of the insurance, and another portion to the policy’s cash value account. The policyholder may even move funds between the cash value and the death benefit components of the universal life plan.
Here are the best insurance companies who offer universal life insurance:
Typically, most types of life insurance will require a medical exam. No exam term life insurance, just as the name implies, does not require a medical exam in order to buy a policy.
A no exam term life insurance policy is best for those without health issues, have a clean MVR and little to no medication history.
Any individual who has significant health issues will want to apply for a fully underwritten life insurance option, or if your conditions are bad enough, even a guaranteed issue whole life policy.
Here are the best no exam term life insurance companies:
Here is a list of the best rated life insurance companies, by A.M. Best, Standard & Poor’s, and Comdex ratings. You can also see a link to our full carrier review pages.
|Carrier Name||A.M. Best||Standard & Poor’s||Comdex||Geek Rating|
|Pacific Life||A+||AA-||90||See Review|
|Ohio National||A+||A+||89||See Review|
|Lincoln National Life||A+||AA-||91||See Review|
Choosing the best company for you
Hopefully, this has given you a better idea of the best insurance companies for the type of life insurance you’re looking for. But your research doesn’t end here. All the life insurance carriers that we deem as the best may not be the best for you. In fact, the best carrier for you may not have even been listed in this article.
To find the best plan and carrier for you, it’s crucial that you work with a licensed insurance agent. Each carrier has its own guidelines for underwriting, and it’s difficult to have the insight and experience to navigate their terms without an experienced Insurance Geek by your side.
Luckily, getting in contact with an Insurance Geek doesn’t mean you have to go to your library and find someone with their nose in a life insurance book (although we might be found there too). Instead, just choose your coverage level and fill out our quick form, and a Geek will contact you to help you find the best insurance plan for your needs. Don’t let the life insurance options overwhelm you – see us as your personal insurance shopping assistants, eager to help you find the best policy at the best price.