Finding one of the best life insurance companies in America is not as difficult as you might think. Fortunately, experts have studied each company and its proposals to help consumers choose an insurance that offers:
1.Good customer service
2.Generous coverage
The support of a financial institution with a great track record in the market.
Several platforms will allow you to compare each insurance in detail, although -on occasions- it is preferable to make an old-fashioned decision: analyzing the numbers on our own.
To help you with this, we have rounded up the best life insurance companies in the United States. Ask for a quote on each of them and compare them to identify the best offer.
After reviewing the characteristics, coverage, customer service and reviews of the life insurance companies in the country, we conclude that these are the best insurance companies in the USA:
Ranking of the best life insurances in the USA
1 Northwestern Mutual
2 Guardian
3 Haven
4 MassMutual
5 USAA
1. Northwestern Mutual
Northwestern Mutual is one of those insurers that needs no introduction. It has been listed as the largest insurance company in the United States. In 2019 alone, Northwestern Mutual had more than 10% of the market. Although this company offers a wide range of products – which you could review in detail – it is also famous for its term life insurance, universal life insurance and whole life insurance.
We like Northwestern Mutual because, in addition to the variety of insurance, it includes a wide range of coverage options and payment plans. And, its flexibility goes beyond the payment of the policy since anyone who wants to convert their term life policy into a permanent coverage policy can do so without having to go through a medical evaluation.
2. Guardian
Guardian is a great insurance company. For something, it takes the number two position on our list. One of the advantages it offers to customers is the ability to increase or decrease premiums, which is fantastic because you will be able to purchase insurance that fits your needs and family budget.
Regarding the type of policies, Guardian excels in permanent life insurance and term life insurance. It also has full life insurance for HIV patients, something you will not find in other insurance companies in the US market.
Note: To qualify, applicants who have been diagnosed with HIV must meet certain eligibility requirements, such as being 20-60 years old and not having developed AIDS.
3. Haven Life
If you need good term life insurance, Haven Life could be the alternative for you. This company issues term policies with one-step subscriptions. To do this, they use the best in technology and combine it with Big Data. This is how they can quickly screen applicants and determine their insurability.
Wondering how fast the insurance process would be with Haven Life? Well, it would be enough to tell you that the entire application process is done online and will take an average of 25 minutes.
With this company, the coverage amounts go up to $ 3,000,000. Therefore, we would not be wrong to say that Haven Life is an excellent option for those looking to purchase comprehensive coverage quickly and easily.
Note: You should know that MassMutual issues all the policies that Haven Life offers.
4. MassMutual
MassMutual (Massachusetts Mutual Life Insurance) is the next largest insurer in the country. It has already conquered 6.4% of the market (and this is an impressive number). This company has a wide variety of insurance, from term life insurance to universal variable life insurance (a permanent term policy with investment opportunities for policyholders and premiums with fairly flexible and affordable prices).
In addition to this and to favour its clientele, it includes other policies on the list, such as whole life, standard and universal term insurance.
5. USAA
USAA has a wide range of options that include term and permanent life insurance, but only for military members and their families. However, they also have products for clients who have not served in the military. You can use your USAA life policy to supplement, for example, group life insurance offered by government offices to their employees.
In general, the term life policies of this insurer have broad coverage that takes into account the death of the insured in times of war, during acts or attacks of terrorism, among others.
Note: An important factor with USAA is that you will change your coverage if you get married or have a baby.
What is the best life insurance? The keys to choosing it
If you want to know the best life insurance for you or your family, you should identify and analyze certain elements with great care. The characteristics of life insurance will help you determine which option best suits your needs.
Choose a type of life insurance.
Two main types of life insurance are marketed: term life insurance and permanent life insurance. Term or term life insurance has a fixed duration. This duration is estimated in years and is generally sufficient for most American families.
On the other hand, permanent life insurance is active for the life of the insured and usually includes a savings component. This insurance is divided into several types:
1.Whole life insurance
2.Universal life insurance
Although companies sell similar policies – depending on the range – some insurers prefer to focus on a specific product, like whole life insurance, for example. It could also happen that the company specializes in the marketing of life insurance for a specific sector of society: the elderly, for example.
We recommend that you consider this before choosing any of the options and, preferably, focus on those companies that are experts in what you need.
Check user ratings
Users always leave reviews of the products they purchase, and life insurance buyers are no exception. Look for the ratings, ratings and comments of people who have already purchased life insurance with that insurance company you have in mind. Look closely at the complaints filed with state regulators and what makes that company special.
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