Best Life Insurance Companies

Life insurance is an appropriate way to protect your family. The policy covers medical expenses, funeral bills, and long-term expenses such as mortgage payments. But the journey of fin

Life insurance is an appropriate way to protect your family. The policy covers medical expenses, funeral bills, and long-term expenses such as mortgage payments. But the journey of finding the best life insurance company may vary from one person to another. So, if you’ve been struggling with health conditions, you're on the right track to winning more.

10 Best Life Insurance Companies in 2023

1.    Nationwide

2.    MassMutual Heaven Life

3.    Protective

4.    Banner Mutual of Omaha

5.    Lincoln Financial

6.    Transamerica

7.    New York Life

8.    Prudential

9.    USAA

10. Northwestern Mutual  

Nationwide Insurance

Pros 

Allows credit card payments

Low customer complaints

Ranked second in J.D Power’s survey

Cons  

No live chat system

Nationwide is a reputable life insurance company that has served for a century. The insurer provides a wide array of packages without a medical exam. It's also the leading for best no medical exam life insurance companies, best whole life insurance companies, and best life insurance companies for people over 50 years. The company has recorded a few customer complaints over the past years.

MassMutual Insurance     

Very few customers complaints

A long history of paying dividends

Cons  

No credit card payments option

MassMutual has A++ financial rating. According to the NAIC reports, the insurer provides a wide array of policies and has received few customer complaints over the past 3 years.  It's worth knowing that you can convert to any of MassMutual's permanent plans.  This is crucial because the majority of firms have a limited number of plans you can convert your policy into.

Heaven Life Insurance

Pros      

Excellent pricing

Online application

A++ financial superiority

Cons  

Limited riders

Offer life insurance only

Heaven Life has a responsive and interactive website that allows a seamless online application.  You don't need to fill out your address, personal data, or education history to use the platform. It also offers affordable quotes that meet many clients' needs. But if you decide to register for a no medical exam life insurance plan, your application may be approved on the same day.  And that's why Haven was listed among the best life insurance companies for youths and best term life insurance companies.

Protective

Pros 

Allows credit card payments

Provides term policy for close up to 40 years

Provides non-medical exam policy

Cons

High customer complaints level

Protective is one of the best life insurance companies with affordable term life insurance policies. With its pocket-friendly price options, it serves best for the best insurance companies for youths, the most affordable life insurance company, and the best term life insurance firm. Plus, it provides kid riders its numerous policies, making it a suitable life insurance company for children.

Banner

Offer an online application option

Term policy is more pocket friendly

Few customers complaints

Cons

Limited riders

Few coverages type

Banner is the right place to be especially if you’re looking for the most affordable term life insurance. It also provides a 40-year term policy to its clients. Although Banner is the best life insurance company, it doesn’t provide other options like universal life and term policies.

Mutual Of Omaha

A wide range of riders is available

Return of premium term

Unlimited packages with living benefits

Cons

Doesn’t support online applications

Mutual of Omaha often includes three benefit riders on its IUL Express policies, Term Life Express, and other policies for terminal illness, and chronic conditions. These features make it suitable for the best life insurance company for living benefits. 

The insurer provides two undisputed features: a return of premium, and disability income rider benefit on the selected packages. Further, it's one of the best burial insurance companies that meet many customer needs.

Lincoln Financial   

Pros

Few customers complaints

Unlimited policy types

Offer living benefit riders

Cons

No whole life policy

Doesn’t display quotes on its site

Lincoln Financial has a wide array of coverages like variable universal and indexed universal life insurance. If you’re looking for the cheapest life insurance company, Lincoln Financial should your first choice. Besides offering a universal life policy, it provides indexed UL plans, and variable UL that allows you to participate in stock market returns.  In addition, it provides living benefits for riders that match multiple policies.

Transamerica

Pros

Many riders available

Offer no-medical exam coverage

Offer living benefits

Cons

High customer complaints level

Transamerica was founded in 1906. The insurer provides a wide array of riders and an unlimited number of policy kinds.  Plus, it offers zero upfront fee on its main policies: terminal illness, and three living benefit riders for critical, and chronic.  Other popular policy includes disability income rider and several policies without a medical exam.

New York Life 

Unlimited number of riders

A long history of paying dividends

Offer policies to individuals up to 90 years old.

Cons

Doesn’t offer online applications and quotes

Limited policy data on the site

New York Life was built in 1845. As the oldest firm on our list, it has paid dividends for 168 consecutive years. It has received fewer customer complaints over the past years. Its financial stability is the reason it's ranked as the best whole life insurance company and the best life insurance for seniors.

Further, it provides universal life policies, term, variable universal life insurance, and whole life policy.

Prudential  

Few customers complaints

Living benefit riders

Unlimited educational resources

Cons 

Poor J.D Power Ranking for customer satisfaction

Prudential provides a wide array of policies like indexed universal life insurance, and variable universal life insurance along with educational materials to simplify them. Other insurance policies include nursing home care and benefit riders for terminal illnesses. 

USAA

Pros

Offer term conversion rider

Serve injury benefits

Cons

No Credit cards payments

No-exam policy options

USAA is suitable for military families because of its military unique riders. It covers severe injuries incurred in military activities for around $25,000. Plus, guaranteed insurability riders without extra cost that increase the coverage especially after living in the military.  Or, if you experience life events, such as having a kid. 

Unlike other life insurance, USAA doesn't allow credit card payments option.  In addition, it has a limited number of no-medical exam options.

Northwestern Mutual

Pros

High financial stability

Long-divided paying history

Few customers complaints

Cons  

Digital experience lacking

Northwestern Mutual is one of the best life insurance firms with a wide array of financial packages. It has financial stability which makes it ranked as the best whole life insurance company.  The insurer has few customer complaints and was founded back in 1857. However, it lacks online service, so you’ll need to contact the firm about life insurance services.     

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