Life insurance is frequently a crucial component of people’s financial plans. If you pass away unexpectedly, it might assist your loved ones be financially protected or pay off debt. It can ease your mind and assist you in leaving a financial legacy.
- 1. Life Insurance
- 2. Best Life Insurance Companies – United States
- 3. Pacific Life – United States (US)
- 4. Northwestern Mutual – United States (US)
- 5. Mass Mutual–United States (US)
- 6. New York Life – United States (US)
- 7. State Farm Life Insurance – United States (US)
- 8. Penn Mutual–United States (US)
- 9. Nationwide – United States (US)
- 10. Guardian – United States (US)
- 11. Mutual of Omaha – United States (US)
- 12. Transamerica Corporation – United States (US)
- 13. FAQs – Life Insurance Companies United States (US)
- 14. Conclusion – Life Insurance Companies United States (US)
For people and their loved ones, life insurance is a crucial financial tool that provides protection and peace of mind. Finding the ideal life insurance provider can be difficult, but this blog will help you by outlining the top US companies and going over their services, financial standing, customer satisfaction ratings, and distinctive characteristics. You can use this information to make well-informed choices about securing your future and balancing your needs and objectives.
1. Life Insurance
Life insurance is a legally binding arrangement in which customers pay premiums to insurance providers in return for a payout to beneficiaries in the event of the customer’s passing. In difficult circumstances, this financial assistance provides security to loved ones.
There are various types, such as term life, which offers coverage for a set amount of time; whole life, which offers lifelong coverage and a rising cash value; universal life, which offers adjustable death benefits and flexible premium payments; variable life, which combines coverage with investment options; and indexed universal life, which ties cash value to market indices.
Benefits include the capacity to make charity contributions, debt repayment, estate planning, business succession assistance, and financial stability for recipients. Making the best life insurance decision requires evaluating one’s financial circumstances and consulting a professional to establish the optimum level of coverage.
1.1 The Necessity of Life Insurance
A vital financial instrument, life insurance offers the protection you and your loved ones need. In the terrible case of your passing, it guarantees the financial security of your family. By paying off outstanding obligations, sustaining your family’s standard of living, and funding significant aspirations like retirement and education, life insurance provides peace of mind. It acts as a safety net, providing an essential layer of protection that can lessen the load on your loved ones in trying times.
2. Best Life Insurance Companies – United States
There are numerous options for life insurance that may work well for your financial objectives and spending plan. To determine the top life insurance providers, we looked at important parameters for term and permanent insurance from a variety of providers.
2.1 The Top Life Insurance Companies According to Our Ratings
The following are our top selections for the best life insurance policies:
- Pacific Life – Best for Variable Universal Life Insurance
- Northwestern Mutual – Largest Life Insurance Company
- MassMutual – Best Convertible Term Life Insurance
- New York Life – Best Whole Life Insurance
- State Farm Life Insurance – Best for Customer Satisfaction
- Penn Mutual – Best for Seniors
- Nationwide – Best Overall
- Guardian – Great Traditional Insurer
- Mutual of Omaha – Best Return-of-Premium Term
- Transamerica – Best for Reliable Policy Illustrations
3. Pacific Life – United States (US)
3.1 Why it’s highly recommended insurance
Penn Mutual frequently offers very competitive rates for a range of face amounts and term durations, so prospective buyers of term life insurance should request quotations from them.
Penn Mutual offers a superb combination of financial stability, affordable internal policy costs, and accurate policy illustrations for customers looking to purchase cash value life insurance. This helps seniors in particular get the most death benefit for their premium dollars.
Top Rated For
- Best for a Positive Customer Experience
- Best For Fewest Complaints
- Best for Customer Satisfaction
3.2 Company Overview – Pacific Life United States (US)
Leading American life insurance provider Pacific Life was founded in 1868 and provides a wide range of financial services, such as investing, annuities, and life insurance. It is a well-known and trustworthy option in the sector and is renowned for its financial stability and client happiness.
| Type | Financial services. Private |
| Industry | Insurance; life insurance, annuities, investment products |
| Founded | 1868; 155 years ago |
| Founder | Leland Stanford |
| Headquarters | Newport Beach, California |
| Payment Plan Options | Check, cash, ACH transfer |
3.3 Products & Services – Pacific Life United States (US)
Services offered by the company are,
3.4 Contact Details – Pacific Life United States (US)
You can contact company through,
| Phone Number | 800 – 347-7787 |
| Address | Pacific Life Insurance Company Retirement Annuities New Business 700 Newport Center Drive Newport Beach, CA 92660 |
| Email Address | [email protected] |
| Website URL | http://www.pacificlife.com/ |
4. Northwestern Mutual – United States (US)
4.1 Why its Highly Recommended – Northwestern Mutual United States (US)
According to the most recent data available from the Insurance Information Institute, Northwestern Mutual is the largest life insurance provider in the nation, accounting for 9.5% of the whole U.S. market for life insurance in 2022
The business has a high rate of customer satisfaction, receives very few complaints, and has exceptional financial stability, earning it an A++ grade from AM Best.
Best AM. “AM Best Reaffirms the Credit Ratings of Northwestern Mutual Life Insurance Company and Its Subsidiary.”
It’s also one of the oldest life insurance providers out there, and for more than 150 years it’s been impressively providing dividends to its clients.
The business, however, falls short when it comes to internet services like online application processes and quotes.
Top Rated For
- Largest Life Insurance Company
- Best for Financial Stability
- Best Overall
4.2 Company Overview – Northwestern Mutual United States (US)
Northwestern Mutual has its corporate office in Milwaukee and provides a range of insurance products to consumers around the country, including life, disability, and long-term care insurance.
The business was established in 1857.
Two years later, an ox collided with a train, causing two people to die. The company paid out life insurance claims, taking out loans to cover the shortfall. Policyholders received full compensation, and the company’s policyholders own it and receive dividends.
| Type | Private, mutual |
| Industry | Financial services |
| Founded | 1857; 166 years ago |
| Headquarters | Milwaukee, Wisconsin |
| Payment Options | ACH transfer, check |
4.3 Products & Services – Northwestern Mutual United States (US)
Company offered following Insurances,
4.4 Contact Details – United States (US)
You can contact the company through,
| Phone Number | 866 – 950-4644 |
| Address | 720 East Wisconsin Ave. Milwaukee, WI 53202 |
| [email protected]. | |
| Website URL | https://www.northwesternmutual.com/contact-us/ |
5. Mass Mutual–United States (US)
5.1 Why its Highly Recommended – Mass Mutual United States (US)
Several policy types, dividends on whole life insurance, extensive term conversion choices, and some of the finest third-party ratings in the business are all provided by MassMutual Life Insurance. Also, due to its practices on no-medical-exams and financial stability, it ranks highly among our top providers.
Top Rated For
- Best Convertible Term Life Insurance
- Best for Financial Stability
- Best for Cigar Smokers
- Best for Dividends
5.2 Company Overview – Mass Mutual United States
The Springfield, Massachusetts-based Massachusetts Mutual Life Insurance Company, also known as MassMutual, was established in 1851. Based on market share, the firm is the second-largest life insurance provider in the nation as of 2022, having received more than $9 billion in direct premiums.
Entire Life Insurance Policy, Mass Mutual.
In addition to Washington, D.C., all 50 states grant MassMutual sales licenses for life insurance products.
| Type | Private. Mutual |
| Industry | Financial services |
| Founded | May 15, 1851 |
| Founder | George W. Rice |
| Headquarters | Springfield, Massachusetts, USA |
5.3 Products & Services – Mass Mutual United States (US)
Insurances offered are,
- Term Life Insurance
- Whole Life Insurance
- Universal Life Insurance
- Variable Universal Life Insurance
5.4 Contact Details – Mass Mutual United States (US)
You can contact the company through,
| Phone Number | 1-800-272-2216 |
| Address | 1295 State Street Springfield, MA 01111-0001 |
| [email protected] | |
| Website URL | https://www.massmutual.com/ |
6. New York Life – United States (US)
6.1 Why Its Highly Recommended – New York Life United States (US)
If you’re looking for permanent life insurance, New York Life is an excellent option, especially if you prefer to interact with an agent rather than looking for information online. The fact that New York Life pays dividends to qualifying policyholders and has done so for the past 168 years makes its whole life policies particularly appealing.
Seniors might consider New York Life, which offers coverage to applicants up to the age of 90. Nevertheless, you’ll need to search elsewhere if you want a sophisticated online experience or a term insurance that lasts more than 20 years.
Top Rated For
- Best Whole Life Insurance
- Best Overall
- Best for Older Parents
- Best for Seniors
6.2 Company Overview – New York Life United States (US)
With a 7% market share, New York Life, which was formed in 1845, is the second-largest life insurance provider in the US. It continues to be a respectable business because it was founded with financial stability and client pleasure.
New York Life is also a mutual company, which implies that its clients control the entire business. New York Life has distributed yearly dividends to policyholders since 1854, and in 2021 the firm distributed $1.8 billion in dividends. In addition to Washington, D.C., the corporation has licenses to market life insurance products in all 50 states.
| Type | Private. Mutual |
| Industry | Insurance: life and annuity |
| Founded | 1845; 178 years ago |
| Headquarters | New York Life Building New York, New York, U.S. |
| Payment Plan Options | ACH transfer or check |
6.3 Products & Services – New York Life United States (US)
Insurances offered are,
| Life Insurance | Term Life Insurance Whole Life Insurance Universal Life Insurance Variable Universal Life Insurance |
| Supplemental Insurance | Individual Disability Insurance Long-Term Care Insurance |
| Retirement Income | Income Now Income Later |
| Investments | Annuities Mutual Funds ETFs 529 Plans |
| Premier Services | Small Business Estate Planning Wealth Management |
6.4 Contact Details – New York Life United States (US)
You can contact company through,
| Phone Number | 1-800-225-5695 |
| Address | NYLIFE Securities LLC P.O. Box 796 New York, NY 10159-0796 |
| [email protected] . | |
| Website URL | https://www.newyorklife.com/ |
7. State Farm Life Insurance – United States (US)
7.1 Why Its Highly Recommended – State Farm Life Insurance United States (US)
One of the biggest life insurance companies in the country, State Farm has an outstanding financial rating and a track record of satisfying consumers, two of the most crucial criteria to take into account when selecting a life insurance company. Customers looking for difficult-to-find return-of-premium term insurance or whole life policies that pay dividends may find the company particularly appealing.
State Farm’s term insurance cost, however, is disappointing and among the poorest of the businesses we looked into. Additionally, while the company offers a respectable selection of policy types, we discovered that it lacked key crucial riders that other companies provide at no extra cost.
Top Rated For
- Best for Customer Satisfaction
- Best for Customer Satisfaction
- Best for Financial Stability
- Most Satisfied Customers
- Best Reputation
- Best for Financial Stability
7.2 Company Overview – State Farm Life Insurance United States (US)
George Jacob (G.J.) Mecherle, a retired farmer and insurance salesman, started State Farm in Bloomington, Illinois, in 1922. Today, you have access to more than 19,000 agents across the United States who are prepared to help you select the State Farm life insurance program that best suits your needs.
With the exception of Rhode Island, State Farm sells insurance through its partner State Farm Life and Accident Assurance Company, connecting consumers in coverage areas.
| Type | Private |
| Industry | Insurance |
| Founded | June 7, 1922; 101 years ago[2] |
| Founder | George J. Mecherle |
| Headquarters | Bloomington, Illinois, U.S. |
| Payment Options | Check, money order, credit card, debit card, ACH payment. |
7.3 Products & Services – State Farm Life Insurance United States
Following are the main services provided by the company
- Car Insurance
- Home & Property
- Small Business
- Life
- Health
- Pet Medical
- Disability
- Liability
7.4 Contact Details – State Farm Life Insurance United States
You can contact the company through,
| Phone Number | 1-800-782-8332 |
| Address | State Farm Insurance One State Farm Plaza Bloomington, IL 61710 |
| Website URL | https://www.statefarm.com/insurance/life |
8. Penn Mutual–United States (US)
8.1 Why Its Highly Recommended – Penn Mutual United States
A long-standing business with a solid dividend history is Penn Mutual. It boasts a low complaint rate, strong financial standing, high coverage no-exam life insurance, and cost-effective term insurance. Yet, it falls behind in terms of website functionality and online data.
Top Rated For
- Great for Dividends and No-Medical Exam Life Insurance
- Best for High Coverage
- Best for No Medical Exam
- Best for Most Policy Types
- Best for No-Medical-Exam
- Best for No-Medical-Exam Life Insurance
8.2 Company Overview – Penn Mutual United States
The Philadelphia, Pennsylvania-based Penn Mutual Life Insurance Company (Penn Mutual) was established in February 1847. It is a mutual corporation, meaning that policyholders, not stockholders, are its sole owners. Policyholders are entitled to annual payouts because they are owners. In actuality, for approximately 175 years, Penn Mutual has continuously paid dividends to qualified policyholders.
Penn Mutual is one of the top 25 largest life insurance firms in the United States, with annual premiums exceeding $2.5 billion. The District of Columbia, along with all 50 states, offer access to Penn Mutual’s plans.
| Type | Mutual |
| Industry | Life Insurance and Annuities |
| Founded | 1847; 176 years ago |
| Headquarters | Horsham, Pennsylvania, United States |
| Payment Options | ACH transfer, check, credit card |
8.3 Products & Services – Penn Mutual United States
Services provided are,
- Life Insurance
- Whole Life
- Term Life
- Universal Life
- Variable Universal Life
- Indexed Universal Life
- Annuities
8.4 Contact Details – Penn Mutual United States
You can contact the company through,
| Phone Number | 1-800-523-0650 |
| Address | 600 Dresher Road, Horsham, Pennsylvania 19044 |
| [email protected] | |
| Website URL | www.pennmutual.com |
9. Nationwide – United States (US)
9.1 Why Its Highly Recommended – Nationwide United States (US)
Nationwide tops our list of the best life insurance providers for a variety of reasons, including its large no-cost benefits, exceptional customer service, sound financial position, and a simple no-exam application procedure for coverage up to $5 million.
Nationwide offers diverse life insurance plans nationwide, ensuring coverage meets your needs.
Top Rated For
- Best Overall
- Best for Living Benefits
- Best for Whole Life
- Best for Customer Satisfaction
- Best Variable Universal Life Insurance
9.2 Company Overview – Nationwide United States (US)
Nationwide, which was established in 1926 and has its corporate office in Columbus, Ohio, is the nation’s 14th-largest insurance provider. It began as a modest, jointly owned auto insurance business and has since expanded to provide a variety of insurance products, including life, auto, home, pet, and travel. Policies are offered everywhere, including Puerto Rico and the Virgin Islands, as the name implies.
| Formerly | Farm Bureau Mutual Automobile Insurance Company (1926-1955) |
| Type | Private, Mutual |
| Industry | Financial services |
| Founded | 1926; 97 years ago |
| Headquarters | One Nationwide Plaza, Columbus, Ohio |
| Payment Options | ACH transfer, check, credit card |
9.3 Products & Services – Nationwide United States (US)
Company offers,
- Home Insurance
- Life Insurance and Critical Illness Cover
- Income Protection Insurance
- FlexPlus Insurance
9.4 Contact Details – Nationwide United States (US)
You can contact the company through,
| Phone Number | 00 44 1793 656789 |
| Address | Nationwide Building Society Nationwide House Pipers Way Swindon SN38 1NW |
| Nationwide CEO Kirt Walker [email protected]. | |
| Official Website | http://nationwide.com/ |
10. Guardian – United States (US)
10.1 Why Its Highly Recommended – Guardian United States (US)
You’ll like Guardian’s low complaint rate compared to other insurers and its A++ AM Best financial strength rating if customer satisfaction and financial stability are your top objectives (the highest possible grade).
The business additionally provides plans that are eligible for dividends and no-medical-exam life insurance with a $3 million maximum coverage limit. The application process for life insurance, however, requires the assistance of an agent, and it can be challenging to discover policy details online.
Top Rated For
- Great Traditional Insurer
- Best for Financial Stability
- Very Few Complaints
- Best for Financial Stability
10.2 Company Overview – Guardian United States (US)
Guardian Life Insurance, a customer-owned mutual company, has been providing insurance policies since 1860. In 2022, they paid out $1.13B in dividends, a record for their annual payouts. Licensed in all 50 states, Guardian Life offers whole life, term, universal, and variable policies.
| Type | Mutual |
| Industry | Insurance: Life & Health |
| Founded | 1860 |
| Headquarters | New York, NY 10001 U.S. |
10.3 Products & Services – Guardian United States (US)
Company offers,
- Life insurance
- Disability insurance
- Dental insurance
- Vision insurance
- Accident insurance
- Critical illness insurance
- Hospital indemnity insurance
10.4 Contact Details – Guardian United States (US)
You can contact the company through,
| Phone Number | (1-888-482-7342) |
| Address | 7 Hanover Sq. New York New York 10004. |
| [email protected]. | |
| Official Website | www.guardianlife.com, www.guardiananytime.com |
11. Mutual of Omaha – United States (US)
11.1 Why Its Highly Recommended – Mutual of Omaha United States (US)
Financially sound Mutual of Omaha stands out because to a few unique products like return of premium (ROP) term insurance and a disability income rider. The company placed third for customer satisfaction in J.D. Power’s 2022 U.S. Individual Life Insurance Survey, and the majority of its policies have at least two accelerated death benefit riders.
According to J.D. Power, “Both Life Insurance and Annuity Consumer Satisfaction Decreases As Epidemic Concerns Resolve.”
Top Rated For
- Best Return-of-Premium Term
- Best for Living Benefits
- Best for Guaranteed Issue
- Best for Customization
- Best for No-Med-Exam
- Best Overall
- Best Burial Insurance
- Best for Living Benefits
- Best for High Coverage
- Best Indexed Universal Life Insurance
11.2 Company Overview – Mutual of Omaha United States (US)
Mutual of Omaha was established in 1909 and offers a variety of insurance products, such as long-term care, dentistry, and disability insurance.
| Type | Mutual company |
| Industry | Finance, Insurance |
| Founded | 1909; 114 years ago |
| Headquarters | Omaha, Nebraska, U.S. |
11.3 Products & Services – Mutual of Omaha United States (US)
Insurance services provided are,
- Term Life Insurance
- Whole Life Insurance
- Children’s Whole Life Insurance
- Universal Life Insurance
- Accidental Death Insurance
11.4 Contact Details – Mutual of Omaha United States (US)
You can contact the company through,
| Phone Number | 1 (800) 228-7104 |
| Address | Mutual of Omaha Plaza 3301 Dodge Street Omaha, NE 68131 USA |
| [email protected] | |
| Official Website | https://www.mutualofomaha.com/ |
12. Transamerica Corporation – United States (US)
12.1 Why Its Highly Recommended – Transamerica Corporation United States (US)
Transamerica is a financially sound insurer that provides a good selection of policy types and a variety of optional riders, three of which are provided on some plans at no additional expense up front. The business also provides insurance plans without a physical. However, Transamerica had more complaints than was typical for a business of its size and obtained a bad rating in the J.D. Power 2021 U.S. Life Insurance Study.
Top Rated For
- Best for Living Benefits
- Best Final Expense Policy
12.2 Company Overview – Transamerica Corporation United States (US)
Transamerica, which was established in 1904, provides term, index universal, ultimate expense, and whole life insurance in all 50 states and the District of Columbia. Cedar Rapids, Iowa serves as the home base for Transamerica.
| Type | Private |
| Industry | Insurance |
| Investments | Retirement planning |
| Founded | 1928; 95 years ago |
| Headquarters | Baltimore, Maryland, US |
12.3 Products & Services – Transamerica Corporation United States
Company offers,
- Term Life Insurance
- Index Universal Life Insurance
- Whole Life Insurance
- Final Expense Life Insurance
- Foreign Nationals
12.4 Contact Details – Transamerica Corporation United States (US)
You can contact the company through,
| Phone Number | 1-800-527-9027 |
| Address | PO Box 189 Cedar Rapids, IA 52406-0189 |
| [email protected] | |
| Official Website | http://www.transamerica.com/ |
13. FAQs – Life Insurance Companies United States (US)
Who Needs Life Insurance?
Life insurance is essential for budgeting and providing money in the event that a wage earner passes away. Dependents are shielded from debt and given the opportunity to keep their possessions. Medical costs, employment assistance, and ongoing costs like daycare, college tuition, and retirement are among the things to take into account.
Does that mean I’ve wasted my money if I don’t die?
In the same way that purchasing auto insurance but never having an accident was a waste of money. You’ve invested in mental tranquility. With term life insurance, you may be sure that your beneficiaries will be paid if you pass away during the policy’s term.
What is the Right Kind of Life Insurance?
Life insurance policies vary in coverage, duration, cash value, and benefits. There are two basic types: term insurance and permanent insurance. Term insurance offers lower premiums in early years but does not build up cash values. Renewals can be expensive, and premiums may increase over time. Permanent insurance provides long-term financial protection, including death benefits and cash savings.
14. Conclusion – Life Insurance Companies United States (US)
In conclusion, the top life insurance companies in the United States, such as Pacific Life , Northwestern Mutual , Mass Mutual and all other mentioned are distinguished by their financial strength, diverse product range, and customer-centric approach. These firms exemplify excellence in offering reliable coverage and innovative policies, making them dependable choices for individuals seeking comprehensive life insurance solutions.
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