There are hundreds of insurance providers to chose from, and every company sets their own pricing and approval guidelines, which makes it difficult to find the best life insurance company.
A handful of life insurance companies specialize with products like term or whole life insurance, while other providers will accept “high-risk” applicants with preexisting health issues.
To help you find the best life insurance protection from a highly-rated insurance company, we created this review of the top life insurance companies for 2019. We’ve also included a breakdown of the best companies for common health issues and dangerous occupations.
Quick Article Guide:
1. Best Term Life Insurance Companies and Reviews
2. Life Insurance Company Reviews and Ratings for 2019
3. Best Life Insurance Companies For Preexisting Heath Issues
4. Best Life Insurance Companies for Dangerous Occupations or Hobbies
5. How to Choose the Best Insurance Company and Policy
Consumer rating agencies usually focus on about twenty well-known insurance companies for their studies. The following chart ranks the top 40 life insurance providers for 2019 based on a variety of factors including; financial stability, policy features, pricing, and underwriting leniency.
Our Top Pick: Pacific Life
Pacific Mutual Life was founded more than 150 years ago in 1868 and currently holds the second-highest JD Power rating of 808. They are rated A+ Superior for financial stability, offer very lenient underwriting, and competitive rates.
The following table compares more than 45 life insurance provider’s customer satisfaction rating from JD Power as well as financial strength ratings from A.M. Best, Comdex, Fitch, Moody’s, and Standard & Poors when available.
|Company||A.M. Best||Comdex Score||Fitch||JD Power Rating||Moody's||Standard & Poors|
|5 Star Life||A-||N/A||N/A||N/A||N/A||N/A|
|Accordia (Global Atlantic)||A||75||A||N/A||N/A||A-|
|American Continental (AETNA)||A||84||A||N/A||AA-||AA-|
|American General (AIG)||A||83||A+||751||A2||A+|
|Haven Life (MassMutual)||A++||98||AA+||781||Aa2||AA+|
|Lincoln National Life||A+||91||A+||778||A1||AA-|
|Mutual Of Omaha||A+||93||N/A||789||A1||AA-|
|National Western Life||A||N/A||N/A||N/A||N/A||A|
|New York Life||A++||100||AAA||791||Aaa||AA+|
|Savings Bank Life Insurance||A||84||N/A||N/A||N/A||A-|
|Securian (Minnesota Life)||A+||95||AA||777||Aa3||AA-|
|United Home Life||A-||N/A||N/A||N/A||N/A||N/A|
|United of Omaha||A+||93||N/A||789||A1||AA-|
However, if you are like most people with a minor health issue or lifestyle risk, applying with the right company could save you a lot of money. The next section provides some insight into buying life insurance with a preexisting health issue.
Every life insurance company sets their own guidelines to evaluate an individual’s risk and determine their life insurance rates. Some life insurance companies tend to be more lenient with cardiovascular-related issues, while others might specialize with issues like diabetes.
Our agency specializes with matching people with pre-existing conditions to the best life insurance companies and policies available. We are also experts at finding affordable options for anyone that is are considered to be a high-risk for life insurance coverage.
If you have ever been treated or diagnosed with one of the health issues listed below, click on the link to learn how the insurance provider’s will evaluate your condition. Each insider’s guide also includes sample life insurance rates and insider’s tips to help you save.
If you have a health issue that isn’t listed above, please give us a call toll-free at 855-247-9555 to speak with one of our experts. In just a few minutes, we can compare rates and policies from dozens of highly-rated insurance providers to find your best option.
When you apply for most types of life insurance, the insurance company you apply with will evaluate your health and lifestyle risk before approving your policy. If you have a hazardous occupation or hobby, getting approved for an affordable life insurance policy can be challenging.
Thankfully, many seemingly hazardous hobbies and occupations are overlooked by life insurance. While riding a motorcycle or being employed as a police officer won’t impact the cost of your life insurance policy, activities like sky-diving can make you ineligible for most life insurance policies.
We’ve helped thousands of families and businesses with their life insurance needs, and our agents are experts at matching their clients with the best option available. The links in the section below provide additional information about buying life insurance for specific occupations or hobbies.
If you don’t see your occupation listed above, it might be an acceptable risk to all insurers. To learn more about buying insurance with a hazardous occupation or hobby, you can also visit our “High Risk Life Insurance Guide,” or you can request a free quote online to instantly compare your options.
Life insurance is not a one-size-fits all product. Your policy should always be tailored to your unique needs and budget. In addition to ensuring that your policy provides your family with adequate protection, there are some additional aspects to consider when purchasing a policy.
Pricing – Every life insurance company sets their own rates and underwriting guidelines. A minor health risk, an unfavorable family health history, or a poor driving record could have a significant impact on your rates, even if you’re in excellent health. Instantly compare prices from 50 top-rated companies with our free quote form below:
Products – Your life insurance policy should always focus on your need for the coverage. Some life insurance providers focus solely on inexpensive term coverage, while other companies may offer inexpensive permanent life insurance products or hybrid policies that also include long term care protection.
Financial Stability – When shopping for life insurance, you’ll want to consider each company’s financial outlook to ensure their ability to pay future claims. The most commonly-used credit rating company for insurance providers in the United States is A.M. Best which assigns a letter grade to each insurance provider.
A.M. Best’s Financial Strength Rating Scale
|Rating Categories||Rating Symbols||Rating Notches*||Category Definitions|
|Superior||A+||A++||Assigned to companies that have, in our opinion, a superior ability to meet their ongoing insurance obligations.|
|Excellent||A||A-||Assigned to companies that have, in our opinion, an excellent ability to meet their ongoing insurance obligations.|
|Good||B+||B++||Assigned to companies that have, in our opinion, a good ability to meet their ongoing insurance obligations.|
|Fair||B||B-||Assigned to companies that have, in our opinion, a fair ability to meet their ongoing insurance obligations. Financial strength is vulnerable to adverse changes in underwriting and economic conditions.|
|Marginal||C+||C++||Assigned to companies that have, in our opinion, a marginal ability to meet their ongoing insurance obligations. Financial strength is vulnerable to adverse changes in underwriting and economic conditions.|
|Weak||C||C-||Assigned to companies that have, in our opinion, a weak ability to meet their ongoing insurance obligations. Financial strength is very vulnerable to adverse changes in underwriting and economic conditions.|
|Poor||D||-||Assigned to companies that have, in our opinion, a poor ability to meet their ongoing insurance obligations. Financial strength is extremely vulnerable to adverse changes in underwriting and economic conditions.|
Source: A.M. Best
We Can Help You Find Your Best Option
If you are in excellent health, applying with a financially stable company that offers competitive rates may seem simple enough. Its important to understand the features you could be forfeiting by purchasing your policy from a slightly better-rated company before you apply though.
Potentially saving a few dollars a month could also limit your options in the future if you still need coverage when your term expires. Working with an independent agency will allow you to compare rates and options from dozens of insurance providers in one call, saving you time and money.
At JRC, we only work with A- (Excellent) or better rated companies and our shopping services are free. To instantly compare quotes from 50 highly-rated life insurance providers, please use our instant online quoting tool below, or call us at 855-247-9555 to speak with an agent.
We calculated our company ratings by awarding each life insurance provider up to 100 points for their financial stability, underwriting leniency, pricing, and customer satisfaction.
To evaluate each life insurance company’s financial stability we used A.M. Best’s financial rating system with a maximum of 30 points being assigned to company’s that meet the guidelines for the A+ “Superior” designation.
Underwriting leniency and pricing was evaluated by looking at each life insurance carrier’s approval guidelines for family health history, blood pressure, cholesterol, and weight. Up to 8 points are assigned to each for the four categories for a total of 40 points.
Customer satisfaction accounts for the remaining 30 points of each company’s ratings. We awarded up to 30 points to the companies with the lowest customer complaint ratio scores and highest average JD Power ratings and Comdex scores where applicable.
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