Top Ten Life Insurance Companies in USA
1. American General (AIG)
A.M. Best Company Rating: A (as of February 27, 2015)
American General Life insurance Company is the right choice for many because they seem to be the “jack of all trades” in the insurance industry. The Company’s underwriting is flexible, their pricing falls right in the upper area of the industry average, and they have exceptional customer service. The following strengths help AIG Life rank for best life insurance.
2. American National Insurance Company (ANICO)
A.M. Best Company Rating: A (as of September 2015)
American National Insurance Company is another highly rated insurance company with great customer service that we really like to offer to clients who are looking for traditional term or whole life insurance coverage with or without having to take a medical exam. The products that they offer that don’t require a medical exam .
3. Banner Life
A.M. Best Company rating: A+ (affirmed as of July 02, 2015)
What would a top 10 list of the best life insurance companies in the United States be without Banner? Banner Life is one of our favorite carriers to write, not only because of their A+ rating, but also because of their exceptional service and price.
Banner will typically be one of the lowest priced insurance products available to our clients. And what is nice about them is that they’re underwriting is typically quite liberal when it comes to qualifying for their Preferred and Preferred Plus rate classes.
4. Foresters Life Insurance
A.M. Best Company Rating: A (rating affirmed July 1, 2015)
Probably the hardest thing about writing a life insurance policy with Foresters Life Insurance company is the work that it takes to familiarize an applicant with who they are. Foresters is an excellent insurance carrier that is willing to offer traditional term and whole life insurance coverage for some of the most difficult to place cases.
A.M. Best Company Rating: B++ (rating as of February 9, 2016)
February 5, 2016: Genworth Life Insurance Company is currently going through some growing pains. As a result, the company has suspended sales of traditional life insurance. Stay tuned.
With over $100 billon in assets and a global presence in over 25 countries it not hard to see when Genworth made our list as one of the top 10 life insurance companies in the US. That combined with their liberal take on ones “waist band” makes them one of the first companies that we look at here at TermLife2Go for some of our “LARGER BUILD” clients. But let’s back that up with a few numbers.
A.M. Best Company Rating: A+ (as of January 14, 2016)
MetLife is a great insurance company known for their financial strength and great customer service. When the company is competitive for price, they’re usually a great fit.
7. North American Company For Life and Health Insurance
A.M. Best Company Rating: A+ (as of June 3, 2015)
North American Company is quickly getting a name offering some of the best life insurance in 2016. And don’t let the name fool you, just because the name North American Company for Life and Health Insurance doesn’t roll off your tongue doesn’t mean you shouldn’t consider them before deciding who you want to apply for coverage with.
As a privately owned insurance carrier, North American Company for Life and Health Insurance has consistently demonstrated that, through sound investments in secure and stable assets, it can maintain the highest A.M. Best rating in financial strength and stability.
8. Protective Life Insurance Company
A.M. Best Company Rating: A+ (as of April 28, 2015)
Just like Banner Life above, no top 10 list of the best life insurance companies in the United States is complete if it does not include Protective Life. You just gotta love a company whose motto is: “Do the Right Thing, Serve People, Build Trust and Simplify Everything.”And they’ve been doing it that way since 1907.
Now throw in that they are nearly always the most affordable term life insurance provider in the industry today and it can be difficult to think of a situation when they shouldn’t at least be considered.
Often people will ask what life insurance companies pay out. The answer would be that all life insurance companies in our list pay out. However, Protective is one of the better companies. According to the Company’s website, the average processing time for a life insurance payout was 5.4 business days. That is a great job by a great company that puts the needs of the client, and his or her life insurance beneficiaries, first.
9. Prudential (Pruco)
A.M. Best Company Rating: A+ (as of November 4, 2015)
Prudential, Pruco, or, “the Rock”, is just one of those companies that everyone’s heard of, everyone knows, and everyone feels comfortable working with.
We particularly like Prudential Life because they seem to have made the financial decision to simply dominate certain “niches” within the insurance industry. Prudential Life Insurance has done this not only by assuming the lowest pricing in certain areas but also by separating themselves from the herd through the adoption of some unique underwriting guidelines when it comes to:
- Travel locales
- Tobacco Use
- Cancer Survivors
- Actual age instead of nearest age.
A.M. Best Company Rating: A+ (as of August 18, 2015)
The self proclaimed “No Nonsense Life Insurance Company”, SBLI, in our experience, is just that. Known throughout the industry as being one of the more customer-centric life insurance carriers out there, SBLI seems to have used its smaller size to allow it to, not only provide great customer service, but also to be a price leader in many categories, particularly for those willing to pay on an annual basis.