Top Life Insurance Companies: 2016
We’ve compiled this list of the best life insurance companies in America to help our clients find the right fit for their unique personal needs. The “best” life insurance company or carrier will always depend on the person who is applying for life insurance. Because we work with 25+ insurance carriers, our experience in helping our clients choose a policy is widespread across many options. This page is a resource for you to look at the best companies and begin to plan for which company is the one you’d like to work with.
Remember, we are an independent agency working nationwide with different carriers. Rates for term and whole life insurance will vary based on the date, your age, your health conditions, and the amount of coverage you ultimately decide to purchase. If you’d like to look at the best rates for life insurance today, we update this page with life insurance rate examples to help you.
Here are the top life insurance carriers to choose from in 2016.
- AIG Life Insurance Company
- Mutual of Omaha
- Protective Life Insurance
- Sagicor Life Insurance
- American Amicable
- Lincoln Financial Group
- North American
These companies represent the life insurance carriers that our licensed agents work with the most with our clients for 2016. There are many differences in writing life insurance policies amongst the carriers. We have developed an ongoing expertise in working through the application requirements, the health underwriting process, and the back-and-forth of the paperwork that has to be done to complete your life insurance application. It’s our job to help walk you through the entire process. As we work with these companies, we make note of any changes that come up to keep this list up to date.
Important Factors to Consider
When choosing a company, there are plenty of things to consider, but here are some common factors that should influence a policyholder’s decision:
Ratings play an important role in assessing the strength of a company. This is especially important when it comes to life insurance as your policy is pointless if the company who issued it isn’t around anymore. In this aspect, it’s important to examine the A.M. Best Rating.
The A.M. Best Rating, displayed on each of our carrier reviews, is meant to represent the creditworthiness of an insurer. This rating also emphasizes a forward-looking approach, meaning it is exactly there to gauge whether a company will still be around when you need it years from now.
You also want to find a life insurance company that has positive interactions with its customers. No one wants to deal with an insurance agency who is unresponsive, rude to its customers, or lacks transparency. This is a large part of what the Better Business Bureau’s (BBB) grade represents. These ratings, ranging from A+ to F, take into account complaints received from the public, using data from both businesses and public data sources.
Of course, the rates you pay will have a large impact on the company you choose. Each company perceives your personal situation differently, and some may see a red flag in your medical history and double your rates, while another company may not mind that issue and still give you a preferred rating.
That’s why it is important to look at all your options with the help of a PolicyZip agent. The ability to examine rates across multiple carriers gives you options to find a lower price for the same amount of coverage.
However, it’s important to not let rates make your decision for you. Buying life insurance is a long-term decision, so it’s important to factor in what kind of risk is involved with the plan you are choosing. For those that like to avoid risk, you might choose a brand name carrier even if they have a higher rate. However, others might prefer a newer company because of the low rates they offer.
Which life insurance company should you choose?
If you’ve reviewed our list of the best life insurance companies and are ready to make a decision, there are a few questions you should ask to finish the process.
It begins with your personal situation. Do you suffer from any health conditions? Are you on medication?
The next step is to consider your age, and the type of insurance you want to purchase. Do you want term life insurance or whole life insurance? Not sure? We explain term life insurance here. In our experience, most of our clients end up choosing term life insurance as the monthly premiums are typically less expensive than the premiums for whole life policies.
Of course, everyone’s situation is different. At this point, you’ve likely educated yourself to the point that you are ready to speak with us. Complete the short contact form on our website to create a no-obligation case review with one of our licensed agents.