Life insurance is a great way to protect your family financially in the event of your death. The best life insurance companies can help you secure enough coverage to replace your income, settle debts, or cover expenses your family will face like paying for your children’s education or caring for ageing parents.
Prudential
Prudential offers term life insurance coverage, universal life insurance, indexed universal life insurance, and variable universal life insurance, and you can add riders to your policy that include an accidental death benefit, a living needs benefit, and a children’s protection rider.
Prudential does let you apply for an instant online quote for term life insurance. To learn more about life insurance from Prudential, have a look at our full review.
State Farm
Overview
State Farm is another insurance company with a long and storied history. Founded in 1922 by a retired farmer, State Farm has grown from humble beginnings to offer a broad range of insurance products today. At the moment, State Farm comes in at number 39 on the Fortune 500 list of largest companies.4 This company also boasts an A++ rating for financial strength from AM Best, which is the highest rating possible.5
Also, note that State Farm secured the highest ranking in the J.D. Power 2020 U.S. Life Insurance Study, which compared the experiences of life insurance and annuity customers nationwide.6
When it comes to the life insurance products it offers, State Farm lets consumers purchase term life insurance coverage, whole life insurance, and universal life insurance. State Farm also makes it easy to enter your information and get a free quote online for term life.
State Farm extends instant answer term life insurance coverage you can apply for online, and these policies can be purchased with no medical exam. You do have to answer health questions in your application, however.
How much does life insurance with State Farm cost? Request a quote online or speak to an agent to find out.
Transamerica
While Transamerica may not be a household name, this company has been around since 1904 and boasts solid ratings for financial strength, including an A rating with AM Best and an A+ rating with S&P Global.7
8 Transamerica scored well below average in the J.D. Power 2020 U.S. Life Insurance Study, though, with only 734 points out of 1,000 possible.
Transamerica also offers a broad selection of life insurance coverage including term policies, whole life insurance, universal life insurance, index universal life insurance, and final expense life insurance.
Transamerica has you speak to an agent in order to get a quote for most of its life insurance products. However, you can get quotes for term life online. Its premiums for term coverage tend to be an excellent value. To learn more about Transamerica Life Insurance check out our full review below.
Northwestern Mutual
While Northwestern Mutual is known for quality overall, its whole life insurance policies are especially popular. The company paid out a record $6.2 billion in dividends to its policyholders for the year 2020.10 Not only do its policies tend to pay generous dividends, but you get the benefit of working with a financial advisor who can help guide you to the best whole or another type of life insurance policy for your situation.
New York Life
New York Life boasts excellent ratings for financial strength, as well as flexible term life insurance policies that you can convert to permanent insurance in the future and the company makes it easy to tailor your term life coverage for your own specific needs.
Mutual of Omaha
Mutual of Omaha offers term and whole life insurance policies with no medical exam for applicants who qualify. This means you may be able to fill out a health questionnaire from the comfort of your home, with no invasive health exam, and get coverage when you pay your first month’s premiums.
USAA
USAA auto and home insurance and banking products are only available for military members and veterans, but it’s life insurance products are available to the public. USAA boasts excellent ratings for financial strength, and it offers an array of riders you can add to your policy to bolster your benefits. Finally, USAA focuses primarily on military members, so it understands the lifestyle and risks and can make the underwriting process easier as a result.
Final Verdict
When looking for a life insurance company, it’s important to find a provider that has a strong and stable history, offers a full gamut of insurance options, and gives the added support and resources, including articles and calculators, to help you make an educated decision.
Prudential Financial checks all these boxes and even makes it convenient by allowing you to quote policies online for up to $250,000. Of all the companies we reviewed, Prudential can fulfill the life insurance needs of more people when compared side by side to the competition