UPDATED May 2017 (Removed Americo, added Principal)
For instant quotes from our 10 best life insurance companies in the united states, complete the form on the right and quotes will be displayed on the next screen.
First and foremost, the best life insurance company will be different for everyone. Every life insurance company will look at your risk differently. With that said, we only work with financially stable life insurance companies that have a strong history and will have no hesitation placing our clients with the 10 different companies we'll discuss below.
- Banner Life
- Protective Life Corp
- Savings Bank Life
- Gerber Life
- VOYA Financial
- Principal Financial Group
When it comes to shopping for life insurance coverage, you want the best of the best. But with so many options to choose from, how do you know you’re getting the cream of the crop?
The truth is, you may not always know which company is the best because “best” is a relative term. This means that your life insurance choices should reflect you and your unique needs, and the carrier that is best for someone else may not always be best choice for you.
Before choosing a carrier, we recommend that you speak to an independent life insurance agent and clearly communicate your coverage needs. Independent agents have access to a wide variety of carriers and can help you find your best options.
To help you begin your life insurance search, we have compiled a ranked list of some of the top life insurance companies in the United States. This overview is designed to give you a little more information about some of our favorite companies and where they excel.
What We Look For
We use AM Best and Comdex ratings to provide you with a brief snapshot of a company’s financial strength, because they are the industry’s benchmarks for financial strength.
Financial strength is one of the most important aspects to consider when looking at an insurance company; if a carrier can protect itself against market downturns and financial ruin, the chances are good that they will be able to adequately protect your loved ones.
AM Best has been the industry’s go-to for financial strength ratings for over a century. AM Best’s financially secure ratings range from B+ to A++, and are qualitative-and-quantitatively based on a company’s ability to pay out insurance claims. AM Best also looks at the strength of a carrier’s notes, bonds and financial tools as well as a company’s operating performance and business profile, comparing them to industry standard and other life insurance companies. All the life insurance companies on our list have at least an "A" rating by AM BEst.
A company’s Comdex rating is also an important part of an insurance company’s financial strength. A company’s Comdex score is a ranking, from 1-100, that compiles ratings from AM Best, Moody’s, Fitch and Standard & Poor. The closer a company’s Comdex score is to 100, the more highly that company has been ranked by two or more of these agencies.
Something to keep in mind when it comes to financial strength: No company in the history of life insurance has not paid claims due to insolvency. Big life insurance companies absorb smaller life insurance companies all the time. Even if it did happen, there are state guarantee funds that will kick in to cover around $300,000 (different by state).
In addition to looking at AM Best grades and Comdex scores, we have listed the company history, our recommended products and the company strengths. Remember you can get instant quotes from all of these companies by filling out the quote form on the side.
With all that said, here are the top 10 best life insurance companies in no particular order.
Our Top Ten Best Life Insurance Companies
1. Banner Life Insurance
Best For: Sub-Standard Risks
History: In 1949, Banner Life Insurance began as Government Employees Life Insurance Company (GELICO). In 1981, GELICO was acquired as a wholly owned subsidiary by Legal & General Group Plc. Two years later - in 1983 - GELICO’s name was changed to Banner Life and the company gained a chief position with Legal & General America. In 1989, William Penn Life Insurance Company of New York became a subsidiary of Banner Life´s subsidiary. William Penn was founded in 1963, and the combined effort of the two companies have made Banner a strong choice for life insurance, and places them easily at the top of our list of best life insurance companies.
Banner consistently offers the lowest costs for term life insurance coverage on the market and shines at competitively underwriting individuals with impaired risks, such as former smokers and those with high blood pressure.
Additionally, Banner was the first life insurance company to sell universal life coverage nearly three decades ago, and they remain on the cutting edge of bringing modernized life insurance products to market.
Financial Strength: Banner’s Comdex ranking is 94, with an AM Best grade of A+.
Best Products: Banner’s OpTerm coverage is term life coverage that offers policyholders level premiums for a duration of the term. The terms are either 10, 15, 20 or 30 years - with 20 being the most popular - and each term offers level premiums for its duration.
This type of coverage comes with a free accelerated death benefit rider, which allows policyholders to receive a portion of their death benefit in case they fall terminally ill. OpTerm coverage is renewable up to the age of 95, and gives policyholders under the age of 66 to convert to a premium policy. For individuals aged 66 and over, the conversion period only extends through the first 5 years of the policy.
Strengths: One of Banner Life Insurance's biggest advantages is their pricing for their sub-standard risks. If you have any health issues that are considered insurable, it's likely Banner will be a contender because they base their pricing off of "Standard Plus" rates instead of the industry norm "Standard" rates. All that means is if you received, for example, a Table 4 health classification from every carrier on the market, Banner would probably be the best priced most of the time - at least in the top 3.
On top of that, Banner is tops in the market for a number of specific health niches. You can get their best health class if you quit smoking 3 years ago (most of the industry makes you wait 5 years); high blood pressure and cholesterol treated with medications can qualify for the best health classifications; if you're over 50 years old and are diabetic, you can qualify for "Standard" rates; family history of cancer doesn't exclude you from the preferred plus rating either (most companies it does).
If you're looking for more information about Banner Life Insurance, check out our more detailed review here. For instant quotes, use the form on the side.
Best For: Epilepsy, Diabetes, Active Military
History: On March 24, 1868, MetLife began selling life insurance policies to individuals in New York. A decade later, MetLife became the first company to provide life insurance coverage to the families of working class men, or individuals who worked in industrial industries. Today, over 140 years after its foundation, MetLife remains a worldwide leader in life insurance, annuities and employee benefits programs thanks to its focus on financial strength, integrity and social responsibility.
MetLife Insurance currently operates in over 50 countries, with over 90 million policyholders globally. MetLife’s strong financial ratings, whole life coverage options, aggressive underwriting and history of excellent customer service has earned the company the number 2 spot on our list.
Financial Strength: AM Best gives MetLife as an “A+” or, Superior, rating and a Comdex ranking of 94.
Products: MetLife’s "Guaranteed Level Term" coverage is one of the company’s stand-out products. Just as with other term products on the market, policyholders are given the option to convert their policy to a whole or permanent policy up to the end of their term or until the age of 70, whichever comes first. Their premiums are also promised to not increase for the duration of their policy. However, MetLife’s Guaranteed Level Term option has a few unique features that add extra protection and set it apart from the rest.
MetLife’s GLT coverage comes with a rider option called a Non-Convertible Disability Waiver of Premium, which waives all base premiums of the policy if the policyholder were to become disabled for at least six months. This type of coverage also comes with the option to purchase a Convertible Disability Waiver of Premium, which carries over to a whole life policy - without additional underwriting - if the GUL term coverage is converted.
MetLife’s Promise Whole Life line of products offers whole life coverage with a few unique twists. These products provide a guaranteed cash value, guaranteed level premiums and guaranteed death benefits, but with the added security of having the policy become fully paid up after a certain period of time. The shining stars in this product line are:
- Promise Whole Life Select 65 - which promises the policy will be fully paid by the age of 65
- Promise Whole Life Select 10/Select 20 - which is designed to have the policy fully paid up by either 10 or 20 years
- Promise Whole Life is a favorite for life insurance on children as you can buy a policy at any age and add riders that secure your future insurability. In other words, you purchase a policy for your 5 year old and at age 19 you find out they have diabetes. At future predetermined dates you can purchase more life insurance coverage
- MetLife also offers Promise Whole Life 120, which allows policyholders to pay guaranteed level premiums until the age of 120. This is a beneficial option for those individuals looking for less expensive whole life coverage
Strengths: MetLife is very strong with select health complications. We've seen them be very competitive for anyone with epilepsy and diabetes. In fact, we've had clients that were declined by life insurance companies and were offered affordable coverage with MetLife.
They're also great at insuring active military with no war restrictions or war-zone exclusions. Even if you have deployment orders in hand, you can qualify. They are one of the few companies offering this to our armed forces.
As mentioned above, their Promise Whole Life on children are very popular because of the FIO (future insurability option) and because MetLife is a name synonymous with helping families.
For more information about MetLife, click here or compare their rates to the market by filling out the instant quote form on the side.
Best For: Cigar Smokers, Overweight, Various High Risk
History: Prudential Financial began its illustrious 139 year in the insurance industry in 1875, as “The Widows and Orphans Friendly Society” (later to be called The Prudential Friendly Society) in Newark New Jersey. Prudential’s initial mission was to provide affordable insurance to the working class by providing industrial insurance to provide low-income families with burial and funeral expenses at a low cost.
Prudential offers great customer service and highly competitive rates for smokeless tobacco users, high-risk clients and aging applicants. Additionally, Prudential is one of the only companies in the industry to insure active-duty military members with deployment orders.
Financial Strength: AM Best gave Prudential a Superior rating of “A+.” Prudential’s Comdex rating is 90.
Products: Prudential has more than a few stand-outs among their products, one of which is Term Essential, affordable level-premium coverage offered in terms of 10, 15, 20 or 30 years. This policy is customizable - with rider options such as accidental death benefit, child protection and waiver of premium - and policyholders are given the option to convert up to the age of 65 or before the end of their term.
Prudential also offers Term Elite protection, which provides policyholders the protection of term life while preparing them to convert to whole life insurance. Like Term Essential, Term Elite policies are offered in 10, 15, 20 or 30 year terms, are customizable and allow policyholder conversion options. However, Term Elite differs from Term Essential because it offers a conversion credit if you convert your policy to one of Prudential’s whole life policies within the first 5 years. This conversion credit offers a credit toward your permanent policy, equaling the amount you've paid for your term policy in the past 12 months.
95% of the term policies we sell from Prudential are the Term Essential plans.
PruLife Universal Protector is another stand-out product in Prudential’s line. This universal policy features a guaranteed death benefit and can be used toward key man business life insurance. Two unique aspects to this coverage is that the policy is competitively priced - meaning you won’t have to pay expensive premiums for coverage - and you are given the option to purchase a rider allowing you to access death benefits to cover chronic illness medical costs.
Strengths: They have so many, it's better in list format.
- They use your current age as opposed to "age nearest". This is important because if you're within 6 months of your next birthday when your policy goes in force, you're considered one age older with most life insurance companies.
- They can't be beat for smokers who DON'T smoke cigarettes. If you smoke cigars, you get their "Regular Plus" non-smoker rates - Prudential's term is "Non-Smoker Plus". They view smokeless tobacco users (dip, chew, snuff etc) as non-smokers as well. On top of that if you have medical marijuana prescription, they offer non-smoker rates as well and only rate based on the reason for the medical marijuana prescription.
- Liberal build charts. If you're overweight, chances are Prudential will be one of the top options for you.
- They've been fantastic for various risks including prostate cancer risks, foreign nationals and people with DUIs.
For more of their strengths and a more in depth review, read our Prudential Life Insurance Review article. You can also view instant quotes from Prudential by filling out the form on the side.
4. Protective Life Insurance
Best For: Low Cost
History: Founded in Birmingham, Alabama in 1907, Protective Life Corp insurance company has over 100 years of providing coverage to individuals across all 50 states. In 1909, the company paid it’s first death claim. Today, the company boasts over $70.4 billion in assets and over 2,000 employees across the United States.
Protective remains a leader in universal life insurance options, providing clients with great coverage at affordable prices.
Financial Strength: Protective Life has been given an AM Best grade of “A+” and a Comdex score of 87.
Products: Protective’s Custom Choice UL guarantees policyholders coverage at a level premium for a specific term, between 10 and 30 years. Toward the end of your policy, the benefit will decrease slightly, but your premium will never increase. Customer Choice Universal Life offers policyholders level premiums and the flexibility of term life coverage, at competitive prices that are less expensive than typical whole and universal policies on the market.
Strengths: Protective typically has very low cost term life insurance and their underwriting is very fair.
The way their structure their term insurance as a term/UL blend can be advantageous in certain situations once your term expires. This "blend" is actually how they get their term life insurance coverage so low (UL's don't have the reserve requirements that term policies do). Don't worry, your premiums are still guaranteed level for the length of your term.
As far as underwriting goes, Protective has a very available underwriting department where we can speak with underwriters directly about your risk (this is VERY rare). What that means to you is if you have any health conditions, we can speak with an underwriter about the details before applying so we can get a more accurate estimate of your premiums. And I'll add that Protective is very competitive in various health complications and lifestyle risks.
To see just how inexpensive Protective's life insurance can be, complete the form on the side for instant quotes.
5. SBLI (Savings Bank Life Insurance)
Best For: Low Cost
History: The Savings Bank Life Insurance company was founded in 1907 by former Supreme Court Justice Louis D. Brandeis. After banks failed during the Panic of 1907, insurance companies were branded as untrustworthy and expensive. Brandeis saw the need for affordable life insurance - and trustworthy brokers - for the working class family, and became instrumental in passing a chapter to the Acts of 1907, allowing savings banks to sell annuities and life insurance. Shortly after, Whitman Bank founded SBLI, selling its first policy in 1908.
SBLI has earned its reputation for trustworthiness. The company has a proven track record of paying out death benefits for all causes of death - accidental or natural - as well as excellent conversion options.
Financial Strength: SBLI has a rating of “A” (Excellent) through AM Best and a Comdex score of 83.
Products: SBLI Level Term life insurance is term life insurance that assures policyholders will pay the same premiums throughout their chosen level premium period. SBLI’s Level Term coverage gives policyholders the option to convert to either a whole life insurance policy or a conversion universal life policy - for the same value as the term policy - without a paramedical exam.
Strengths:Like Protective mentioned above, SBLI is typically among the lowest priced term life insurance carriers available - especially in the Preferred and Preferred Best health classifications.
Factor in their financial strength and great customer support and they're a solid company which we enjoy doing business with.
To see SBLI's quotes, simply complete the form on the side and they'll be displayed on the next screen.
6. AIG (formerly American General)
Best For: High Risk, Term for Life
History: American International Group (AIG) was founded in Shanghai in 1919 by American businessman Cornelius Vander Starr. In a little under a decade, Starr expanded AIG throughout Southeast Asia, eventually opening an office in the United States in 1926, called American International Underwriters Corporation. AIG operates in over 100 countries, with over 90 million customers. AIG primarily operates under three main businesses: AIG Property Casualty, AIG Life/Retirement and United Guaranty Corporation (UGC).
A lot of people have mixed feelings about the name "AIG" because of the bailout. 2 things to consider: (1) AIG repaid the government back. (2) AIG Life Insurance is a completely different subsidiary of AIG. They were associated by name only. We have complete confidence in AIG and wouldn't hesitate to cover our own families with them.
With that said, AIG made our life of Top Ten Best Insurance Companies thanks, in large part, to its flexible underwriting. AIG excels at underwriting higher risk clients, particularly those with type 2 diabetes, and offers some of the lowest prices for guaranteed universal life insurance policies.
Financial Strength: AIG has been give an AM Best rating of “A” (Excellent) and a Comdex score of 82.
Products: The AIG Select-A-Term coverage allows policyholders to choose from 17 different term lengths - 10 years and between 15 and 30 years. This is particularly beneficial to those looking to purchase customizable term coverage: you can choose the duration of your term, your benefit size and customize your coverage with riders.
One of the neatest aspects to this insurance option is the 25 year term option! This is beneficial to those looking to purchase a 30 year policy, but who are intimidated by the premium price, as it offers an extra 5 years of protection for not much more than a 20 year term life insurance policy. Policyholders are also given the option to convert their term policy to a permanent policy up to the end of their term, or the age of 70.
AIG Secure Lifetime GUL is a flexible guaranteed universal life insurance policy. With this coverage, policyholders are allowed to select the coverage amount, how long they want to pay premiums and the duration of the death benefit guarantee. These options provide policyholders with a unique form of guaranteed universal coverage; the policyholder can adapt their coverage if their future needs change.
Strengths: Where do we start. AIG is usually very competitive for both healthy and high risk applicants. Their "substandard" table rating pricing is similar to Banner's - when comparing a table rating across the market - AIG will always be in the top few best priced companies.
We love their guaranteed universal life insurance policy. Often called "term for life" as it's guaranteed level premiums for the rest of your life, it's usually one of the best priced life insurance companies on the market for this type of product.
For both term and guaranteed universal life insurance quotes (choose "lifetime" for GUL), just complete the form on the side.
To learn more about AIG, visit our AIG Review page.
7. Gerber Life Insurance
Best For: Guaranteed Issued
History: Gerber Products Company began in 1927 when Daniel Frank Gerber”s - owner of the Fremont Canning Company - wife, Dorothy, began hand-making baby food for their daughter.
The company experience rapid success, and by 1928 Gerber baby food was distributed across the United States. In 1967, Gerber Products began offering life insurance products to young families and remains one of the largest direct-market life insurance vendors in the United States. Gerber Life has over 2 million policies in force across the US, Puerto Rico and Canada and over $650 million.
We like Gerber Life because they offer clients the flexibility of changing the due date of their premium payments based on individual needs. Additionally, Gerber offers some of the more competitive rates on the market for no-exam guaranteed issue life insurance.
However, we do not recommend their children's "Grow Up" plan. There are better options on the market.
Financial Strength: Gerber Life Insurance is given an “A” rating from AM Best, and a modest Comdex rating of 80.
Products: Gerber’s Guaranteed Life Insurance Plan guarantees coverage to individuals and their spouses, between 50 and 80 years of age. With this type of coverage, cash value is accrued over time and there is no medical exam required; however, applicants are only guaranteed coverage up to $20,000.
Strengths: When it comes to guaranteed issued life insurance with no health questions, Gerber is always our recommendation because of their low rates, fantastic customer service and fast claims paying.
They are raising the bar for Guaranteed Issue carriers. We can actually complete a voice-signed application. Meaning no paperwork and no e-signatures, making it easy for those who need the coverage to pick up the phone and have coverage in force when they hang up.
And for you New York residents, YES they can do business there (most guaranteed issue life insurance carriers won't).
For more information on Gerber Life Insurance, click here.
8. Voya Financial (formerly ING Reliastar)
Best For: Type 2 Diabetics, Cigar Smokers
History: Voya Financial - better known as a subsidiary of ING - began as the Fire Insurance Company of the Netherlands in 1845. In 1863, the Fire Insurance Company merged with Rotterdam-based National Life Insurance Bank and changed its name to De Nederland van 1845.
In the late 70s and early 80s, the company experienced significant growth; however, it was not founded as one company until a merger between Nationale-Nederlanden and NMB Postbank Group occurred in 1990. In 2013, ING U.S. rebranded itself as Voya Financial.
Voya Financial is considered one of the more competitive term carriers in the industry, offering low premiums and generous underwriting for individuals with high cholesterol, diabetes and even occasional cigar smokers. Because even those searching for life insurance for smokers can obtain the coverage they deserve. Their generous underwriting, low premiums and dedication to customer service has earned them a spot on our Top 10 List!
Financial Strength: Voya is rated A+ by AM Best, with a Comdex ranking of 77.
Products: Voya is known for low premiums and excellent term life policies, including their TermSmart and ROP Endowment Term products.
Voya’s TermSmart product is a form of guaranteed-level premium life insurance. This type of coverage promises that a policyholder’s premiums will not increase - nor will their benefit decrease 0 for the duration of the policy. Voya issues TermSmart policies with a minimum benefit of $100,000 to individuals between the ages of 18 and 80. TermSmart is issued in 10, 15 or 20 year term increments.
One of the cooler aspects of TermSmart is a policyholder’s ability to convert their policy to whole life up until the age of 70. Voya’s liberal age underwriting is unique because most companies offer conversion options for individuals until the age of 65.
Voya’s Voya ROP Endowment Term product - or return-of-premium policy - offers the best aspects of whole and term life coverage. The only downside to this product is that the premiums will be higher than other term policies, but this downside is small when compared to the options offered through ROP Endowment Term coverage.
This policy allows policyholders to have their premiums returned to them if they outlive their coverage term, and also allows them to access cash value during the life of the policy. In addition to the option to receive a lump sum payment of their returned premiums, policyholder is also given the options to choose to convert their policy to whole life or to convert to a reduced paid-up policy.
Terms for these policies are typically between 20 and 30 years, and is restricted to individuals under 60 years of age. Policyholders up to the age of 50 are given the option to purchase a 20, 25 or 30 year term policy; however, policyholders between the ages of 50 and 55 are only given the option to purchase either a 20 or 25 year policy.
Strengths: Voya has some great health niches, lets go list form again:
- Preferred rates for type 2 diabetics are available! Granted you have to be over the age of 60 and be diagnosed less than 5 years ago.
- Cigar smokers can get Preferred NON-SMOKER rates if they smoke less than 1 cigar per week.
- There's Unisex build charts which are very aggressive for women. Most women that would qualify for Standard elsewhere based on build, could get preferred rates from Voya.
- Family history of cancer is NOT considered in evaluating your risk for Preferred rates.
As you can tell, Voya gives more consumers a chance to get "Preferred" rates than any other carrier we can think of. For more underwriting niches and a more in depth review, visit our Voya Life Insurance Review page.
And for instant Voya life insurance quotes, complete the form on the side and they'll be displayed on the next screen.
9. Principal Financial Group
Best For: No Medical Exam
History: Principal Financial Group was formed in 1879 and are headquartered in Des Moines, IA. They started off as an insurance company and have grown into a global investment manager with over $527 billion in assets under management. As of 2015 they're 282nd on Fortune magazine's list of largest 500 corporations. They consistently receive "best in class" for customer support and have been named one of the world's most ethical companies.
Principal has become a household name with their TV advertising and growing broker workforce.
Financial Strength: Principal has a Comdex score of 90 and an AM Best rating of “A+”
Products: Principal's term life insurance line has 10, 15, 20 and 30 year term lengths as well as an annually renewable term that renews every year for short-term needs.
They also have universal life insurance that can be guaranteed level for the rest of your life with a secondary guarantee. Think of it as "term for life" - the lowest possible premium payments to secure a level death benefit and level premium payment for life.
Principal also has cash value universal life insurance including variable universal life and survivorship policies (commonly used in estate planning).
Strengths: They are very competitive on price especially in the ages 35-55 range in cases of $1,000,000 of life insurance coverage or more.
Where they stand out the most is you can get up to $1,000,000 of life insurance coverage with NO medical exam and get a decision within 48 hours if you qualify. You must be in great health and qualify for their preferred rates. This is through their Accelerated Underwriting program.
Their term coverage also gives you the availability to convert to a permanent product with no evidence of insurability and it has some of the most favorable terms around as you can covert all the way up to age 70.
Combine that with their excellent customer service and we're big fans of Principal and our clients are as well. To learn more about Principal, visit our Principal Life Insurance Company Review page.
Best For: No Medical Exam
History: Sagicor began over 160 years ago - in 1849 - as the Barbados Mutual Life Assurance Society, operating in a variety of countries across the Caribbean. Eventually the company acquired interest in Capital International Management Service and Island Life in Jamaica and Mutual Bank of the Caribbean. Sagicor Life, Inc. - and its holding company, Sagicor Financial Corporation - was established in 2002, after the Barbados Mutual Life Assurance Society was dissolved.
Sagicor grew rapidly, and was listed in 2003 on the Barbados Stock Exchange, and in 2004 on the Trinidad and Tobago Stock Exchange. Eventually, Sagicor made it to the London Stock Exchange and, in 2007, established Sagicor Europe Ltd.
The United States segment of Sagicor, Sagicor Life USA, was given a Standard and Poor rating of “BBB+” after successfully offering a $150 million bond in 2006. Currently, the company operates in over 22 countries, offering a variety of financial services including: health, property and annuity insurance brokerage, farming and real estate development, pension administration services and property management.
Ease and convenience is the name of the game with Sagicor life insurance. Sagicor’s no-exam life insurance is competitively priced and offers clients the convenience of a fully-online application process. Despite being fully online, Sagicor still operates at a high level of customer service, and most applications are approved within a few days’ time.
Financial Strength: Sagicor has not been given a Comdex score, but currently holds an A- rating from AM Best.
Products: Sagicor offers two stand-out products in their line: Sage Term and Sagicor No Lapse Universal Life coverage.
Sage Term offers guaranteed level term life insurance coverage for 10, 15 or 20 year terms, with the free inclusion of an accelerated benefit rider. This type of coverage also offers a level death benefit to the age of 95 and the ability to receive a Preferred rating - even if you are a tobacco user.
Additionally, Sage Term offers clients a simplified issue option, with no medical exam required, for policies up to $400,000. Applicants have the option of applying for a simplified issue Sage Term policy stress-free, over the phone or online, and are promised a decision in 15 minutes or less.
Sagicor’s No Lapse Universal Life coverage is an excellent, flexible alternative to term life insurance. Sagicor offers guaranteed level premiums to age 120 with the guarantee that the policy will not lapse. An accelerated death benefit rider of up to $250,000 is included at no extra charge and policyholders are given the option to select a specific death benefit protection period for added flexibility. Another appealing feature to this policy is that policyholders can choose whether they would like their death benefit to remain level throughout the policy or to accrue cash growth.
Strengths: If you're in the market for no medical exam life insurance, Sagicor is currently leading the market. They have some of the best priced no exam term and universal life insurance polices because they have different health classifications: Preferred, Standard and Rated (most no exam companies have 1 health class and you either qualify or you don't).
A decision is made within 24 hours, but usually happens within a couple hours and we've even seen immediate decisions come through.
We've been very impressed with their easy application process and ability to even give people with health complications the ability to purchase no exam life insurance that's usually reserved for the healthier risks.
There are a lot of life insurance companies innovating, re-branding and moving the industry forward so it's tough to pick our top 10.
Our honorable mentions, aka "runner ups" go to Transamerica Life Insurance, Mutual of Omaha and MassMutual. All fantastic companies that are innovating like the top 10 we just discussed. We could have made this a top 13 list, but it wouldn't have as much appeal, right?
Need Even More Options? Other Company Reviews:
1Clickcoverage Life Insurance - If you're looking for quick and easy life insurance, 1Clickcoverage is the place to go! As you can guess by their name, you can have a life insurance policy in a matter of moments, and you probably won't find an easier policy to get. The rates aren't going to be the best, but if you're looking for life insurance fast, 1Clickcoverage is the go-to company.
AARP Life Insurance - If you have a few more years under your belt, the AARP is probably one of the better life insurance companies. As you probably know, AARP specializes in giving older Americans the knowledge and tools they need to live a happy and successful life through retirement. Life insurance is going to be more expensive the older you are, but AARP works to give you the best rates possible.
AICPA Life Insurance- Are you a Certified Public Accountant? Did you know that you can get your life insurance through the American Institute of CPAs? Because these policies are sold as group policies, you can usually get a better rate. So if you're a CPA, it's worth checking out AICPA life insurance rates.
GEICO Life Insurance - GEICO is known for the adorable spokes – lizard and its auto insurance, but they also sell life insurance. GEICO offers affordable life insurance rates. If you have an auto insurance policy with GEICO, you should consider getting your life insurance policy with them also. Not only will you get good life insurance rates, but you'll also be able to save money by having more than one policy with the company.
Globe Life Insurance - If you want to take out a life insurance on your child, Globe Life offers the perfect plan for you. Globe Life have policies that will determine premiums based on your kid's current age, and they won't change after that. These plans also build cash value inside of the plan. As an added bonus, the first month of coverage is only $1.
ING Reliastar Term Life Insurance - If your family has a history of cancer, you might find it difficult to get great rates for your life insurance policy. ING though specializes in getting great rates for people with less than perfect family histories.
INSQUIK - SBLI No Exam Life Insurance Review - Savings Bank Life Insurance isn't the most popular company on our list, but it shouldn't be overlooked. They offer a product called INSQUIK that allows you to be approved in less than 10 minutes. Only 10 minutes until you can have a life insurance policy! In most cases, that's how long you would spend on hold with another insurance company
Matrix Direct Life Insurance - Matrix Direct doesn't actually sell life insurance, they are an agency that helps you find the best policy for you. They are a newer company, being established in 1995. While they might not be the oldest, they still have knowledge representatives to find the best possible rates for you.
Minnesota Life Insurance Reviews - Looking for a stable and reliable life insurance company, look no further than Minnesota Life Insurance. They have some of the best ratings in the life insurance marketplace. A.M. Best gives Minnesota life an A+ rating and Standard and Poor's also gives A+ rating.
Mutual of Omaha Life Insurance - Mutual of Omaha has some specialties that make it a great choice for a lot of people. They have 14 different lifestyle and health credits Basically if an applicant is eligible for three or more of the credits then they can get better rates.
Policy Genius - PolicyGenius doesn't sell life insurance, but they make the process a lot easier. With PolicyGenius, you don't have to spend hours on the phone calling different insurance brokers. You can compare dozens of different insurance rates side-by-side.
Primerica (Prime America) Term Life Insurance - Life insurance isn't Primerica's main product, investing is. But with all the money you save on their term life insurance policies, you can quickly invest the savings with Primerica. If you're looking for a stable term life insurance policy, and to make a few investments while you're at it, Primerica is your best bet!
Select Quote - Select Quote is another company that doesn't sell the insurance policy, but they provide you with an insurance professional that can find the best rates for you. Because they are an independent agency, they don't have ties to any particular company, which means that you'll get non-biased rates. If you don't want to spend the time calling dozens of companies, Select Quote can save you time and money.
State Farm Life Insurance - State Farm has several different insurance products that you can take advantage of and the more you have, the more you'll save. State Farm has excellent homeowners and auto insurance rates, and their life insurance rates aren't half bad either.
Wells Fargo Simplified Term Life Insurance - A simplified term like insurance means that no health exam is required to be approved for the policy. The only thing you'll need to do is answer a few questions. These policies are great for any applicant that is in bad health, or they don't want to do a medical exam. With Wells Fargo, you'll enjoy affordable rates, even with their simplified term life insurance policies.
Zander Insurance - Zander Insurance Group isn't the biggest company on the list, but that can be a huge advantage. Because they aren't the largest, they work to provide individualized assistance to all of their customers and applicants. Zander Insurance has just about every term policy you could want, and they can be renewed up until age 95.
The insurance industry is constantly evolving, and there is no guarantee that the top life insurance companies today will remain so in the future.
Our agents continually research innovative trends in the insurance market - as well as company ratings, rankings and reviews - in order to keep our network strong. We will only work with the best, so you will only get the best options in coverage. If we deem a carrier unfit, we will not include that carrier in our network.
You are our priority. We believe that each of our clients deserves a unique policy tailored to their needs and we know that insurance companies are just as unique as our clients, with their own strengths and weaknesses. This is why our network is wide as well as selective; we want you to have options, but we won’t settle for providing you with anything but the best options.
No matter your unique situation, if you are in the market for life insurance, call and speak to an independent representative today to find out which of the nation’s top life insurance carriers is best for you!