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    You are at:Home » Reviewed: Top Life Insurance Companies

    Reviewed: Top Life Insurance Companies

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    By pps-DUEditor on April 28, 2021 Finance

    The top life insurance providers pride themselves on maintaining robust finances and delivering excellent customer service. Depending on where you live, you could choose from several life insurance companies that provide various plans. Here are the pros and cons of the nation’s top life insurance companies.

    Northwestern Mutual

    Pros

    Surety of the nation’s largest life insurance company

    Choice of whole life, term life, and universal life cover

    Customizable coverage and payments for specific policies

    More than 160 years of industry experience

    Pays dividends consistently

    Cons

    No specific information on the company’s website regarding term lengths and coverage

    USAA

    Pros 

    Ideal insurer for military families

    Provides life insurance to non-military individuals

    Comprehensive nationwide coverage

    Includes coverage for war and acts of terrorism

    Allowance for additional coverage for significant life events

    Cons

    Exclusion of certain policies for New York residents

    Haven Life

    Pros

    Efficient use of technology and algorithms to determine eligibility

    Ease of access with online applications

    Backing of a reliable and established parent company

    Access to coverage amounts of up to $3 million

    No requirement for medical examination of certain applicants

    Cons

    Does not offer whole life policies

    New York Life

    Pros

    Ownership lies with the policyholders

    Choice of permanent life and term life policies

    Option for variable universal life policies

    High customer satisfaction ranking in J.D. Power’s 2020 study

    Additional coverage against terminal illnesses and disabilities

    Cons

    Non-availability of online quotes

    MassMutual

    Pros

    Wide range of policies offered

    Policies come backed by an established and financially robust company

    Coverage amounts from $100,000 to $3 million

    Cons

    Requirement for medical exams for all policies

    AARP

    Pros 

    Availability to all AARP members over 50 years of age

    Precise underwriting with no medical exam requirements

    Choice of whole life and term life insurance policies

    Option to convert term policies to whole life

    Cons

    No price guarantees

    Increase in term life premiums in five-year brackets

    State Farm

    Pros

    Availability of instant term life insurance

    Highest customer satisfaction ranking in J.D. Power’s 2020 customer satisfaction study

    Fewer complaints to state life insurance regulators than competitors

    Cons

    Limited availability in some states

    Using the information listed above, you can soon be on your way to purchasing life insurance that best suits your needs.

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