极速体育直播page极速体育直播LifeThe Best Life 极速体育直播 Companies in 2020
Last updated on Sep 29, 2020

The Best Life 极速体育直播 Companies in 2020

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    We looked at factors like financial strength, customer service, website functionality, coverage types and rider options to come up with our list of the best life insurance companies of 2020. The top picks include Northwestern Mutual, State Farm, USAA, Mutual of Omaha, New York Life, Principal Financial and MassMutual.聽

    Life insurance is one of the best ways to protect your loved ones in the event of your death, whether you choose a term or whole life policy. It can also be part of your overall financial strategy. If you are unsure of how much life insurance you should get or how to get started on your own hunt for quality life insurance, our evaluation of the best life insurance companies may help you find the right one for you.聽

    The 7 Best Life 极速体育直播 Companies 

    Compare Top 极速体育直播 Companies

    CompanyReviews.com ScoreCustomer SatisfactionFinancial Strength聽Riders offeredWebsite聽Coverage
    Northwestern Mutual5/55/55/55/55/55/5
    State Farm5/55/55/55/55/55/5
    USAA4.6/5N/A5/5N/A4/55/5
    Mutual of Omaha4.2/54/55/52/55/55/5
    New York Life4.2/55/54/54/53/53/5
    Principal Financial3.8/54/55/52/55/55/5
    MassMutual3.6/53/55/54/54/55/5

    Northwestern Mutual Life

    Northwestern Mutual hits all the high marks with organizations that rank the best life insurance companies, such as AM Best and the National Association of 极速体育直播 Commissioners (NAIC).

    Northwestern Mutual

    Best Overall

    Why we chose it

    Northwestern Mutual makes it easy to convert your policy from term to whole life. If you choose the company, you鈥檒l be assigned a financial advisor who will work with you to pick the best products for your needs.
    • 5 Reviews Score
    • A++ AM Best Rate AM Best rates car insurance provider鈥檚 creditworthiness. Ratings are based on the provider鈥檚 ability to follow through with a payout when a consumer files a claim.
    • 810* J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.
    • A+ BBB Rating The BBB rates companies based on trustworthiness and performance. The company uses a variety of factors, including how the company handles customer complaints.

    Why we chose it

    Northwestern Mutual makes it easy to convert your policy from term to whole life. If you choose the company, you鈥檒l be assigned a financial advisor who will work with you to pick the best products for your needs.

    Pros

    • Top marks for customer satisfaction & High financial strength rating
    • Easy conversion from term to whole life
    • A+ rating with Better Business Bureau
    • Broad range of dividend-generating products

    Cons

    • Dividends not guaranteed
    • Must work with their financial advisors
    Read More

    Unique features

    The major ranking companies all point to Northwestern as one of the top life insurance companies in the U.S. It offers term, whole and universal life policies at reasonable rates and with fantastic customer service.

    *J.D. Power 2019 U.S. Life 极速体育直播 Study, based on a 1,000-point scale

    Further Reading on Northwestern Mutual Life:

    State Farm

    Most life insurance companies offer one term policy option with multiple whole life options, but State Farm provides flexibility and choice for both major types of policy. 

    State Farm

    Best Term Life 极速体育直播

    Why we chose it

    The company鈥檚 term insurance options include a basic policy and a return-of-premium policy that gives you back premiums if you outlive the policy. It also offers an 鈥渋nstant answer鈥 policy designed to cover end-of-life costs that鈥檚 inexpensive, has no medical exam and features up to $50K of coverage.
    • 5 Reviews Score
    • A++ AM Best Rate AM Best rates car insurance provider鈥檚 creditworthiness. Ratings are based on the provider鈥檚 ability to follow through with a payout when a consumer files a claim.
    • 808* J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.
    • A+ BBB Rating The BBB rates companies based on trustworthiness and performance. The company uses a variety of factors, including how the company handles customer complaints.

    Why we chose it

    The company鈥檚 term insurance options include a basic policy and a return-of-premium policy that gives you back premiums if you outlive the policy. It also offers an 鈥渋nstant answer鈥 policy designed to cover end-of-life costs that鈥檚 inexpensive, has no medical exam and features up to $50K of coverage.

    Pros

    • Excellent customer service & High financial strength
    • Informational and intuitive website
    • Able to customize policies
    • Discounts available for bundling with auto or homeowner insurance

    Cons

    • Not licensed in Massachusetts
    • Premiums can be higher than average
    • Changes must be made through an agent
    Read More

    Unique features

    With its whole life coverage, you can choose from a range of payment plans and living benefit options to create a policy that reflects your needs.

    *J.D. Power 2019 U.S. Life 极速体育直播 Study, based on a 1,000-point scale

    Further Reading on State Farm:

    USAA Life

    USAA is one of the best insurance companies out there. The company offers top-quality customer service, reasonable prices and demonstrated financial strength to those who serve our country and their families 鈥 since it is only available to active or retired service members.

    USAA Life

    Best for Military Families

    Why we chose it

    USAA has term policies lasting up to 30 years, along with whole life and universal life. The latter with flexible payment options and the opportunity to purchase additional whole life coverage without a medical exam if your circumstances change.
    • 4.6 Reviews Score
    • A++ AM Best Rate AM Best rates car insurance provider鈥檚 creditworthiness. Ratings are based on the provider鈥檚 ability to follow through with a payout when a consumer files a claim.
    • N/A J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.
    • A- BBB Rating The BBB rates companies based on trustworthiness and performance. The company uses a variety of factors, including how the company handles customer complaints.

    Why we chose it

    USAA has term policies lasting up to 30 years, along with whole life and universal life. The latter with flexible payment options and the opportunity to purchase additional whole life coverage without a medical exam if your circumstances change.

    Pros

    • Highest possible AM Best rating for financial strength
    • Strong online community for military members
    • Inexpensive policies; starting at $12 a month
    • Coverage geared toward military needs

    Cons

    • Only available to former and current military and their families
    • Quotes only available with military ID
    • Few discounts if you bundle with auto or home
    Read More

    Unique features

    USAA Life policies are optimized to meet the specific needs of active, deployed, and retired service members.

    *J.D. Power 2019 U.S. Life 极速体育直播 Study, based on a 1,000-point scale

    Further Reading on USAA:

    Mutual of Omaha

    Mutual of Omaha has a long history of providing good life insurance terms. It offers whole life and universal life policies, along with children鈥檚 whole life and accidental death insurance. 

    Mutual of Omaha

    Best for Pre-Existing Conditions

    Why we chose it

    The company offers guaranteed whole life policies 鈥 meaning you don鈥檛 need to have a medical exam or answer health questions. Another great perk is that you can quickly and easily purchase your policy without a long underwriting process.
    • 4.2 Reviews Score
    • A+ AM Best Rate AM Best rates car insurance provider鈥檚 creditworthiness. Ratings are based on the provider鈥檚 ability to follow through with a payout when a consumer files a claim.
    • 795* J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.
    • A+ BBB Rating The BBB rates companies based on trustworthiness and performance. The company uses a variety of factors, including how the company handles customer complaints.

    Why we chose it

    The company offers guaranteed whole life policies 鈥 meaning you don鈥檛 need to have a medical exam or answer health questions. Another great perk is that you can quickly and easily purchase your policy without a long underwriting process.

    Pros

    • Policies available for those who have had cancer or other serious illness
    • Riders include children鈥檚 whole life and accidental death
    • Informational website
    • Online quote tool

    Cons

    • Not a lot of add-ons
    • Policies not as customizable as others
    • Guaranteed life policies have a maximum benefit of $25K
    Read More

    Unique features

    Available for customers ages 45-85, your benefits are never reduced because of your age or health. Rates are higher for this type of policy, but if it works for you, that may not be an issue.

    *J.D. Power 2019 U.S. Life 极速体育直播 Study, based on a 1,000-point scale

    Further Reading on Mutual of Omaha:

    New York Life

    New York Life offers term, whole life, universal life and variable universal life policies. It also provides customers with long-term care, estate planning and other financial services.

    New York Life

    Best for Seniors

    Why we chose it

    The company鈥檚 riders make this one of the better choices for older adults: a chronic care rider gives you access to up to 50% of your policy benefit if you suffer from a qualifying chronic illness.
    • 4.2 Reviews Score
    • A++ AM Best Rate AM Best rates car insurance provider鈥檚 creditworthiness. Ratings are based on the provider鈥檚 ability to follow through with a payout when a consumer files a claim.
    • 770* J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.
    • A+ BBB Rating The BBB rates companies based on trustworthiness and performance. The company uses a variety of factors, including how the company handles customer complaints.

    Why we chose it

    The company鈥檚 riders make this one of the better choices for older adults: a chronic care rider gives you access to up to 50% of your policy benefit if you suffer from a qualifying chronic illness.

    Pros

    • Flexible policies
    • Good fiscal management
    • AARP partnership
    • Riders for accidental death, chronic care, and more

    Cons

    • Sparse website
    • No online quote tool
    • Hard to find answers to your questions
    Read More

    Unique features

    One of the company鈥檚 unique factors is its long-standing partnership with the American Association of Retired Persons (AARP), through which it offers both term and whole life policies that don鈥檛 require a medical exam.聽

    *J.D. Power 2019 U.S. Life 极速体育直播 Study, based on a 1,000-point scale

    Further Reading on New York Life:

    Principal Financial

    In addition to term insurance, Principal Financial offers a broader-than-usual range of whole life policies: universal life, indexed universal life, variable universal life and survivorship, all at rates that are affordable for those looking for low-cost life insurance options.

    Principal Financial

    Best for Affordability

    Why we chose it

    The company is known for selling policies in corporate settings, but it鈥檚 worth getting a quote from them. Principal鈥檚 survivorship insurance, in particular, isn鈥檛 found at many insurers. It covers two lives, with a death benefit payable upon the death of the second party.
    • 3.8 Reviews Score
    • A+ AM Best Rate AM Best rates car insurance provider鈥檚 creditworthiness. Ratings are based on the provider鈥檚 ability to follow through with a payout when a consumer files a claim.
    • 789* J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.
    • A+ BBB Rating The BBB rates companies based on trustworthiness and performance. The company uses a variety of factors, including how the company handles customer complaints.

    Why we chose it

    The company is known for selling policies in corporate settings, but it鈥檚 worth getting a quote from them. Principal鈥檚 survivorship insurance, in particular, isn鈥檛 found at many insurers. It covers two lives, with a death benefit payable upon the death of the second party.

    Pros

    • Reasonably priced premiums & flexible whole life policies
    • Apply online easily
    • Low NAIC complaint rate
    • Partial tax-free surrender available for whole life policies

    Cons

    • No accidental death benefit
    • No disability waiver of premium rider
    • Known more for group than individual policies
    Read More

    Unique features

    Principal鈥檚 low rates put it at the top of life insurance company reviews, so if saving money is your primary concern, it鈥檚 worth considering.

    *J.D. Power 2019 U.S. Life 极速体育直播 Study, based on a 1,000-point scale

    Further Reading on Principal Financial:

    MassMutual Life

    MassMutual offers some benefits, such as a good range of retirement and investment opportunities that make it a good choice if you want all your financial needs taken care of under one umbrella.

    MassMutual Life

    Best Whole Life 极速体育直播

    Why we chose it

    The company features term insurance, whole life, universal, and variable policies that build in cash value and offer a dividend which, while not guaranteed, has been paid every year since 1869.
    • 3.6 Reviews Score
    • A+ AM Best Rate AM Best rates car insurance provider鈥檚 creditworthiness. Ratings are based on the provider鈥檚 ability to follow through with a payout when a consumer files a claim.
    • 751* J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.
    • B- BBB Rating The BBB rates companies based on trustworthiness and performance. The company uses a variety of factors, including how the company handles customer complaints.

    Why we chose it

    The company features term insurance, whole life, universal, and variable policies that build in cash value and offer a dividend which, while not guaranteed, has been paid every year since 1869.

    Pros

    • Top financial ratings
    • Healthbridge program for healthcare workers
    • Direct term insurance available
    • Long term care insurance can be bundled with life

    Cons

    • App doesn鈥檛 work well
    • Average J.D. Power customer service score
    • Few policy add-ons
    Read More

    Unique features

    The company鈥檚 direct term policy is an option for those with health issues: it鈥檚 available for anyone up to age 64 and doesn鈥檛 require a medical exam.

    *J.D. Power 2019 U.S. Life 极速体育直播 Study, based on a 1,000-point scale

    Further Reading on MassMutual Life:

    Further Reading on Life 极速体育直播 

    Life 极速体育直播 FAQ 

    What is the best life insurance company?

    There鈥檚 no one 鈥渂est鈥 life insurance company, the best one for you will depend on you and your family’s needs and circumstances. All the companies on our list feature great customer service, financial stability, and flexible policy options 鈥 any one of them could be the best option for you.

    Who has the best life insurance policy?

    The best life insurance policy for you depends on your circumstances and what you hope to get out of the policy. Your financial advisor or a good insurance agent can help you figure out what policy is best for you.

    Which one is better, term or whole life insurance?

    Term insurance is a good option for many people, especially those with young families that will eventually outgrow the need for life insurance support. But whole life may be a better option if you want to have the security of a life-long policy and the chance to have your premiums provide investment income in the future.

    How do I choose the best life insurance policy?

    Our list of the best life insurance companies is a good place to start. Read our life insurance shopping guide and start gathering quotes from a range of our top-rated companies.

    What are the best insurance companies?

    Although there are hundreds of life insurance companies, we found the best seven to be Northwestern Mutual, Mutual of Omaha, Principal Financial, MassMutual, State Farm, New York Life, and USAA. Any of these can help you build a policy that works best for your unique circumstances. 

    Methodology

    Reviews.com scores products, services and companies using five quantifiable criteria to help readers choose the best one for them. For the life insurance companies, our editorial team compared financial strength, number of riders offered, coverage options, customer satisfaction scores and website functionality from each company to produce our very own Reviews.com score. These ratings were evaluated with you, our readers, in mind, and are meant to be a helpful tool to simplify the process of choosing which life insurance company is best for you. Since life insurance rates vary widely among different profiles, we encourage you to continue researching options that fit your specific needs.

    About the Authors

    Mary Van Keuren

    Mary Van Keuren Contributor

    Mary Van Keuren has been covering auto and home insurance for Reviews.com for nearly five years, and has published numerous reviews of state-specific insurance trends and how to find the best insurance deals for your money. She earned B.S. and M.A. degrees from Nazareth College in Rochester, N.Y. and has been writing professionally, both in print and online, for 30+ years.

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