10 Best Life Insurance Companies of 2022
Life insurance is a critical part of anyone’s financial plan. Whether you’re saving for your first home, planning for retirement, or protecting the essentials of your family’s future, life insurance can help secure your dreams. Life insurance coverage is important to many people because it helps protect loved ones from loss and hardship in the event that something tragic happens. That being said, finding the best life insurance companies can be a challenging task — especially if you don’t have any experience with this type of coverage. Fortunately, we’ve compiled this list of the best life insurance companies out there today so that you can enjoy more peace of mind while building your savings!
1- Northwestern Mutual
Northwestern Mutual is the largest mutual life insurance company in the US. The company has a long history of providing financial security to families and individuals, including those who have lost their job or experienced other unexpected events like illness or disability. Northwestern Mutual offers a variety of different types of life insurance policies with varying levels of coverage, including whole life, universal life, and variable universal life policies.
The firm’s financial advisors help customers plan for the future by analyzing their current finances and tax situation before making any decisions about what type of policy would be best for them at this time. They also provide guidance on how these products can be used wisely so that they can achieve optimal results throughout their lifetimes
2- John Hancock
John Hancock is a life insurance company that has been around since 1862. It’s based in Boston, MA and offers many different types of life insurance policies to meet your needs.
John Hancock offers four main types of insurance products: Whole Life, Universal Life, Term Life (term-based), and Universal Life with Annuities (ULAA). Many people consider these four categories to be the most popular options for purchasing long-term coverage – but there are other options available as well!
3- State Farm
State Farm is one of the largest insurance companies in America. The company has been in business for over 100 years, and it currently has over 35,000 agents across the country. In its 2016 Annual Report, State Farm reported that it had assets totaling $1.5 trillion and had paid out $4 billion to policyholders during that year alone!
State Farm offers life insurance products such as term life insurance policies or universal life policies (which provide coverage until death). You can also purchase annuities through these plans if you want guaranteed payments from your investments each month without having any medical expenses or other costs associated with them later down the road when they’re elderly–or even younger than they are now!
4- New York Life
New York Life is a mutual life insurance company that was founded in 1845. It has been rated as one of the best companies to work for and is headquartered in New York City. With over 6 million customers, New York Life is one of the largest providers of group insurance coverage in North America. The company offers a wide range of products including term life insurance, permanent life insurance, universal life, and variable universal life policies.
New York Life also offers other financial services such as investments through its existing mutual fund subsidiaries (New York Life Investment Management Co., NYIF), investment advice through its wealth management unit (New York Life Investments), fixed annuities through its variable annuity subsidiary (LIQUIDITY) and retirement planning services through its financial planning subsidiary (NEW LIFE FINANCIAL PLANNING).
5- Mutual of Omaha
Mutual of Omaha is a life insurance company that’s been operating in the United States since 1922. In fact, Mutual of Omaha was one of the first companies to offer term and whole life insurance plans on a mass scale.
The company offers a variety of different types of coverage: auto, home, renters, and business owner policies; whole life (long-term) plans; group annuities; variable universal life (VUL) products with death benefits paid out over time; fixed annuities with lifetime benefits paid only when you die or retire from your job at age 55—the list goes on! All these policies are available through independent agents who sell them directly to customers just like you. That means no high commissions from salespeople trying to convince you into something else!
6- MassMutual
MassMutual has been in business for over 150 years, and it’s easy to see why. They offer a variety of life insurance products that can be tailored to your needs, from term life insurance through whole-life plans to universal life policies.
MassMutual is also a mutual company—meaning they are owned by the policyholders who purchased their policies through MassMutual Financial Services Incorporated (FMF), rather than outside investors. As such, FMF is run entirely by its members: policyholders! This means that if you own an FMF policy and become incapacitated or die unexpectedly during your lifetime, then all you have left is what’s called “insolvency value” which will help pay off debt associated with your account balances; however, nothing else happens automatically because this isn’t considered income anymore since there isn’t any money coming from somewhere else either way!
7- Foresters
Foresters is a direct-to-consumer company, so you can shop for life insurance online. They have been in business since 1844, which makes them one of the oldest mutual insurance companies in America.
Foresters has a financial strength rating of A++ and an annual dividend payout ratio of 90%. This means that they pay out over 90% of their profits back to shareholders each year with no restrictions on when it’s paid out—a rare trait among companies these days!
The customer satisfaction score on Foresters’ website was 4.5 out of 5 stars when we checked it out earlier this month (December 2019). The company received positive reviews from those who purchased their policy through Foresters’ website: “I’ve had my policy for 3 years now,” one reviewer wrote; “I’m very happy with how quickly they responded when I had questions or concerns.”
8- Guardian Life
Guardian Life is a top life insurance company that offers a variety of life insurance plans. The company was founded in 1867, and it’s been around since then. It has an A+ rating from A.M. Best and an A++ from Fitch Ratings, which means it has very low claims frequency for customers who purchase its products through Guardian Life.
Guardian Life offers whole life insurance, term life insurance, universal life policy options as well as annuities (which are similar to bonds).
9- Primerica
Primerica is a financial services company that offers a variety of financial products and services. The company operates not only in the United States but also internationally. Primerica was founded in 1983 as an insurance brokerage firm by John Bogle and Edward Jones. In 1986, it became an insurance company under the name Prudential Financial Incorporated (formerly Prudential Insurance Company).
The Prudential Life Insurance Company was formed when Prudential merged with Equitable Life Assurance Society (ELAS) in 1999 to form what would become known as Primerica Financial Services Corporation today.[3] The two were originally separate entities with ELAS being founded in 1894 while Prudential began operations in 1896.[4][5]
10- Pacific Life
- Pacific Life is a life insurance company, founded in 1850 by John Fairweather and John C. Newlands.
- The company has been in business since then and currently employs more than 5,300 people throughout the world.
- Headquartered in California, Pacific Life is an international leader in providing financial security to families around the world through its diverse product offerings; these include term life insurance, universal life insurance (UL), permanent life annuities (PAL), variable universal life plans (VUL), fixed index annuities (FIA) and fixed income investments such as mutual funds or fixed bonds/bonds from other issuers
You can find life insurance companies online or through a broker or an agent.
The best way to find life insurance companies is through an online search. You can also go through a broker or agent, who will help you find the right one for your needs. Some things that may come in handy include:
- What exactly do they cover? Do they offer certain kinds of coverage? Is there an age limit on how old someone has to be before they can apply for their product? Are there any other restrictions on applying (e.g., gender)?
- How much does it cost per month/per year and what services does it come with (e.g., medical exam)?
Conclusion
I hope that you have learned a lot about life insurance companies and are now able to choose the best one for your needs. Remember, as, with any financial decision, it’s important that you understand what type of coverage you need before making any transactions or decisions related to this product. Good luck!
