March, 24 2017

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Life insurance reviews, news and prices from the top companies

RiverSource Life Insurance Company (Ameriprise) Review

RiverSource Life Insurance Company (Ameriprise) Review Pros: Financial Strength- RiverSource Life Insurance Company has a 96 out of 100 Comdex Ranking putting them among some of the top life insurers in America for financial strength.  Size- RiverSource is the 19th largest life insurance company in America based on total assets.  Company history- RiverSource is a subsidiary of Amerirpise Financial and has been around for over 115 years. Cons: There aren’t too many cons with RiverSource. Bottom Line: RiverSource Life Insurance Company, a subsidiary of Ameriprise, is a highly rated and very competitively priced (see the table below) life insurance company.  As with all the life insurance companies we review, we recommended receiving a quote from RiverSource (Ameriprise) but also...

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Minnesota Life Insurance Company (Securian) Review

Minnesota Life Insurance Company (Securian) Review Pros: Financial rating– Minnesota Life Insurance Company (the parent company of Securian Financial Group) has an A+ (Superior) A.M. Best Financial rating and a 93 out of 100 Comdex ranking.  Size and Stability– Founded in 1880, today Minnesota Life Insurance Company and Securian Financial Group affiliates have over 13 million customers and manage over $42 billion in assets.  Indexed Universal Life (IUL/EIUL) Product– Minnesota Life’s IUL/EIUL policy is a favorite for clients looking for a tax free income stream. Cons: There are not really any cons with Minnesota Life.  In comparing their rates they typically will not have the lowest rates. Bottom Line: Minnesota Life Insurance Company (Securian) is a superior rated life...

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USAA Life Insurance Company Review

(USAA) United Services Automobile Association Life Insurance Company Review Pros: Rating- USAA has a 99 out of 100 Comdex Ranking, meaning they nearly received a perfect financial rating from the top four U.S. insurance rating agencies. Size- USAA is a Fortune 500 company with over 10 million members.  Website- USAA’s website provides instant rate quotes and allows you to fill out an application online.  Loyalty- USAA is a member based organization to people and families that serve, or served in the United States Military. Cons: There aren’t too many cons with USAA.  In reviewing their rates, they are competitive but often there were other life insurers with cheaper rates. Bottom Line:  USAA is a top tier life insurance company with...

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Midland National Life Insurance Company Review

Midland National Life Insurance Company Review Pros: Rating- Midland National has an A+ (Superior) financial rating from A.M. Best and a 92 out of 100 Comdex score.  Longevity- Midland National was founded in 1906 with a long stable company history dating back to over 100 years.  Website-  Their website provide instant rate quotes without having to speak to anyone. Universal Life- Their universal life products offer some of the best rates in the entire country. Cons: They typically don’t offer the lowest prices on term life insurance (but they do for on universal life). Bottom Line: Midland National Life Insurance Company is a highly rated and financially strong life insurance company.  They have been around for over 100 years...

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Cincinnati Life Insurance Company Review

Cincinnati Life Insurance Company Review Pros: Pricing- Cincinnati Life Insurance Company often has some of the best rates in the country (See table below). Awards- Cincinnati Financial was named one of Forbes 2013 America’s Most Trustworthy Companies.  Also, they were one of Ward’s 50 Top Performing P&C Insurers in 2013. Cons: There aren’t too many cons with Cincinnati Life.  One issue could be their distribution model which is stricter than other top insurers making them unavailable with many independent agents. Bottom Line: Cincinnati Life Insurance Company is a top tier life company that will often have one of the absolute lowest rates in the entire nation in 2016.  However, since their rates are so good, their underwriting can be...

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Best Life Insurance Companies by Policy Amount

Choosing the right amount of life insurance coverage to protect your loved ones is imperative when selecting your policy.  Unfortunately, many people underestimate how much money their family would actually need to adequately maintain their current standard of living.  How much life insurance do I need? Many prominent financial planners recommend carrying anywhere from 5x to 20x your annual income in life insurance.  For example, someone making $75,000 a year income, who is married with two kids, has a $500,000 mortgage would ideally carry around $750,000 to $1,000,000 in coverage.  Should the main breadwinner pass away, the home will be paid off and there will still be enough money for the family to maintain their current standard of living...

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Best Life Insurance Companies by Age

Best Life Insurance Companies by Age When shopping for life insurance it’s important to choose the right company or else you could end up significantly overpaying for your life insurance policy.  Many consumers don’t realize that prices can vary by fifty percent or more for the same exact policy.  There are many different factors that will determine your rate such as your; age, height and weight, medical history, medications, occupation, hobbies, family history, driving history and even bankruptcy history.  For the purposes of the article we will show you some of the best life insurance companies by age. Age 20 $500,000 20 year term policy- preferred plus rate class-male Ohio National $20.33  A+ Rated SBLI Savings Bank Life Insurance...

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Principal Life Insurance Review

Principal Life Insurance Review Pros: Size- Principal Financial Group is a Fortune 500 company with $364 billion in assets under management.  Stability- Principal has been around since 1879 and currently has an A + (Superior) financial rating from A.M. Best.  Cons: There aren’t too many cons with Principal Life Insurance Company. Bottom Line: Principal Financial Group is a top tier financial services organization including their life insurance product (underwritten by Principal National Life Insurance Company).  Their underwriting guidelines are competitive and so are their rates.  While they may not have the absolute lowest prices on life insurance, they are still often very competitive.  Couple this with their A+ (Superior) A.M. Best financial rating and a long stable company history...

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Mutual of Omaha Life Insurance Review

Mutual of Omaha Life Insurance Review 2016 Pros: Rates– Mutual of Omaha (United of Omaha) often has the lowest rates in the entire country for term life insurance in 2016. Size– Mutual of Omaha is a Fortune 500 company with total assets of $31 billion.  History and Stability– Mutual of Omaha was founded in 1909 and has an A+ (Superior) financial rating from A.M. Best in 2016. Underwriting– Mutual of Omaha has favorable underwriting in many categories including cholesterol and blood pressure.  Blood Pressure– Mutual of Omaha Life Insurance Company allows the best rate class, Preferred Plus, even if you’re taking blood pressure medication if your blood pressure is well controlled with ages 18-55 average reading 135/85 or better...

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TIAA-CREF Life Insurance Review 2016

TIAA-CREF Life Insurance Review 2016 Pros: Financial Rating– TIAA-CREF Life Insurance Company received the highest financial rating in 2016 from A.M. Best, A++ Superior which only a select few life insurance companies have obtained in America.  Size and stability– TIAA-CREF is a fortune 100 organization that serves over 3.7 million people and has $487 billion under management.  Familiarity and convenience– While TIAA-CREF is available to everyone they do cater to employees of schools, educations, and non-profits organizations.  Many of these employees have other financial products with TIAA-CREF such as their 403 (b) plans and feel comfortable having everything in one place. Cons: There aren’t too many cons with TIAA-CREF Life Insurance Company. Bottom Line:  TIAA-CREF Life Insurance Company (TIAA-CREF...

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American National Life Insurance Company Review 2016

(ANICO) American National Life Insurance Company Review 2016 Pros: No medical exam coverage- ANICO’s Signature Term Express policy (not to be confused with their no exam Freedom Term policy) will typically have one of the if not the best rates in the country for no medical exam life insurance at the standard rate class (average health class) in 2016.  Rating- ANICO received an A (Excellent) rating from A.M. Best which is “excellent” for companies who are dominant in the no medical exam space.  Longevity- ANICO was founded over 100 years ago which means they are a company you can depend on. Cons: There aren’t too many cons with ANICO.  One slight could the fact they don’t offer a preferred...

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Assurity Life Insurance Company Review

Assurity Life Insurance Company Review Pros:  Longevity- Assurity Life Insurance Company’s origins date back to the late 1800’s.  BBB rating- The Better Business Bureau accredited Assurity Life Insurance Company and gave it an A+ rating as well as a recent BBB Integrity Award.  No medical exam policy- Assurity Life has a popular no medical exam life insurance policy with coverage up to $350,000 and can be issued within 10 days or even sooner. Cons: While Assurity’s prices are competitive, other insurers may have lower pricing on certain products. (See the tables below) Bottom Line:  Assurity Life has been around for nearly 125 years and offers a wide range of financial products.  Their no medical exam life insurance policy is...

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FEGLI Life Insurance Review

(FEGLI) Federal Employees’ Group Life Insurance Review Pros:  No medical exam or health questions- FEGLI is very convenient since there isn’t any medical underwriting.  This makes it a perfect option for those who are uninsurable on the open market.  Also, the convenience of having premiums drawn directly from the paycheck is another convenience many prefer.  Free coverage after age 65- If the insured keeps the Basic coverage into retirement they are eligible for the 75% reduction option.  Coverage will gradually reduce down to 25% of the original basic benefit and will last the rest of the insured’s life free of charge (no cost after the age of 65).  This is a great way to cover final expenses for no...

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Guardian Life Insurance Company Review

Guardian Life Insurance Company Review Pros: Financial Rating- Guardian Life Insurance Company has the best financial rating available from A.M. Best A++ (Superior).  In fact, they have a 98 Comdex score which means they received a near perfect rating from the four major rating agencies.  Size- Guardian Life is one top life insurance companies in America by market share and one of the nation’s largest corporations earning a spot as a Fortune 300 list.  Mutual Company- Guardian is a mutual insurer which some people prefer. Cons: Guardian’s rates are often higher than other insurers, even those in the same superior A.M. Best rating category.  Also, their underwriting guidelines can be very conservative which can lead to higher premiums. Bottom...

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Nationwide Life Insurance Company Review

Nationwide Life Insurance Company Review Pros: Financial Strength- Nationwide has an A+ (Superior) financial rating from the top rating agency A.M. Best and a Comdex rating of 91 which means they received excellent ratings from the four main rating agencies.  Prices- In 2014, Nationwide has very competitive prices on their life insurance products, especially their term life insurance. Size and brand recognition- Nationwide is a Fortune 100 company and a household name which can be attributed to their popular adverting campaigns.  Location- Nationwide still has brick and mortar offices around the country which some people prefer. Cons: There aren’t too many cons with Nationwide.  One potential downside some may encounter will be their underwriting.  In reviewing their underwriting guidelines...

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Penn Mutual Life Insurance Review

Penn Mutual Life Insurance Review Pros: Financial Strength- Penn Mutual was awarded an A+ (Superior) financial rating from A.M. Best. In fact, as a further testament to their financial strength Penn Mutual was one of only 15 life-health insurers that has maintained an A.M. Best Financial Strength Rating of “A” or higher for at least 75 years according to Best’s Review 2008, July issue.  History- Penn Mutual has a long stable tradition as it founded more than 165 years ago in 1847.  Prices- Penn Mutual rates are very competitive on many of their life insurance products. Cons: There aren’t too many cons with Penn Mutual.  A potential issue for some could be their underwriting.  As with most mutual insurance...

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Ohio National Life Insurance Review

Ohio National Life Insurance Company Review Pros: Price: Ohio National often has the absolute lowest rates in the nation.  Out of 900+ life insurance companies Ohio National is often at the #1 spot with the best price.  Financial Strength- Ohio National is A+ (Superior) rated by A.M. Best.  Stability- Ohio National has been insuring families for over 100 years. Cons: A potential issue for some will be their underwriting. Since Ohio National’s prices are so low, their underwriting tends to be fairly conservative which can ultimately lead to a higher price after the medical exam and underwriting process is complete. Bottom Line:  Ohio National is one of the best life insurance companies in the country, bar none.  Their rates...

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Pacific Life Insurance Company Review

Pacific Life Insurance Company Review Pros: Financial Rating- Pacific Life is highly rated as having received an A+ (Superior) grade from the preeminent rating agency A.M. Best. Prices- Pacific Life has some of the lowest rates in the nation in many categories including smoker/tobacco users.  Sales of permanent products- Pacific Life was #1 in indexed universal life insurance (IUL) sales in 2010-2012. Cons: There aren’t too many cons with Pacific Life currently. Bottom Line: Pacific Life is a top tier life insurance company with a long stable tradition of more than 140 years.  Today they are one of the nation’s largest insurance companies and ranked on the Fortune 500 list at 369th largest corporation in America.  They are dominant...

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OneAmerica (American United Life Insurance Company) Review

OneAmerica (American United Life Insurance Company) Review Pros: Financial rating- OneAmerica has an A+ (Superior) rating from A.M. Best and a Comdex score of 96.  Products and Services- OneAmerica and its companies offer a wide range of life insurance and financial service products. Price- OneAmerica is very competitively priced in certain niches.  They also have an A+ rating from the BBB. Cons: A potential con is that OneAmerica and its life insurance companies such as American United Life are not yet household names like MetLife or Prudential. Bottom Line: OneAmerica is a highly rated life insurance company that offers a wide range of life insurance and financial products.  They’re rates are very competitive in certain niches as can be...

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$500,000 Life Insurance- Best Companies and Prices

A $500,000 life insurance policy may sound like a lot of coverage, but in reality this is the amount of insurance that is needed to adequately insure the main breadwinner.  When you factor outstanding debs; such as credit card, student loan and a mortgage balance,costs of raising children including; daycare and education costs, add in everyday living expense such as food, utility and other living expenses it becomes evident why $500k of life insurance is needed for many families to replace the breadwinners’ current income and future earnings. How much life insurance do I need? Many preeminent financial advisors recommended the insured have a minimum of 5x to 20x one’s annual gross income in life insurance.  For example, a...

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Cheapest Life Insurance Companies 2015

Who are the cheapest life insurance companies 2015?  The truth is the cheapest life insurance company will vary from person to person.  Age, health and tobacco use are just a few of the items that will determine which company will offer the lowest rate.  Since there are so many good life insurance companies in America, it’s crucial to shop around and receive multiple quotes to ensure you are receiving the best rate available.  This equates to more life insurance for your family and a lower monthly payment for you.   Also, note that life insurance is a product that can and in most instances should be purchased based on price.  A rule of thumb is to choose a fully-underwritten policy...

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Life Insurance Comdex Rankings-Top 250 Rated Companies in 2014

Life Insurance Comdex Rankings- Top 250 Rated Companies in 2014 The Comdex score is the average ranking a company receives from the four major rating agencies in America.  The four preeminent life insurance ratings that are used include: AM Best, Standard & Poor’s, Moody’s Investors Services and Fitch.  A company must receive ratings from at least two of the four major rating agencies in order to receive a Comdex score.  Why use a Comdex Ranking when buying life insurance? Since there is not a universal rating system to evaluate insurance company’s financial strength, the rating a company receives can be confusing for the consumer.  For example an A+ rating with A.M. Best is the second best rating but with...

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Best Rated Life Insurance Companies 2015

If you’re in the market for life insurance it’s imperative that you check the insurance company’s A.M. Best financial rating before moving forward with an application.  A.M Best is the preeminent life insurance rating agency in America and their letter grade will allow you to quickly asses the insurer’s ability to meet its future obligations.  A.M. Best uses a ratings scale to gauge an insurer’s financial strength with A++ (Superior) being the best rating and going all the way down to an S grade for (Suspended).  A general rule of thumb is to choose an insurer with an A (Excellent) rating or better for fully-underwritten policies and an A- (Excellent) for no-medical exam policies.   More on the A.M....

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Best Term Life Insurance Companies 2015

The best term life insurance companies 2015 offer a combination of low rates, a top rating from A.M. Best and have been in business for a long time with a stellar reputation within the industry. So how does a novice to the life insurance industry find these companies and receive a quote from them online in a matter of minutes?  Simple, keep reading and we’ll tell you everything you need to know to help you make an informed decision and ultimately choose the best life insurance company decision to protect your family. Term life insurance Term life insurance will give you the most bang for your buck so to speak for life insurance protection.  Term life insurance allows you...

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Sagicor Life Insurance Company Review 2016

Sagicor Life Insurance Company Review 2016 Pros: Sagicor will typically have the some of the best no medical exam life insurance (simplified issue) rates in the country for a healthy person in 2016.  Also, their no medical exam rates for a smoker are typically the lowest as well.  Sagicor offers term life, no-lapse universal life and a whole life policy all with the option of bypassing the medical exam for a brief telephone interview.  Their no medical exam underwriting is fair, especially compared to the other insurers offering no exam coverage. Cons: Sagicor is not a well-known life insurance company here in America as they are in the rest of the world. Bottom Line:  If you are looking no...

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$5,000,000 Life Insurance– Best Companies and Prices

$5,000,000 of life insurance may sound like a lot of coverage for most people, but for some this the right amount of protection that is needed to adequately protect their loved ones.  When choosing a policy for $5,000,000 life insurance-best companies and prices will give you peace of mind knowing that you are with a highly rated company and are paying an affordable premium. Choosing the right policy Many financial advisors recommend anywhere from 5 to 20 times one’s annual income in life insurance coverage.  This is to replace the insured’s salary and to pay off any outstanding debts such as the mortgage if they were to pass away prematurely.  Additional common needs for a 5 million life insurance...

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Best Life Insurance Companies for Seniors Over 65

The best life insurance companies for seniors over 65 offer different policy options such as term life insurance, no-lapse universal life, simplified issue and guaranteed issue.  Since there are different reasons why a senior over 65 needs life insurance; whether it’s to cover the remaining balance on a mortgage, protect their income while they’re still working or to take care of final expense costs, it’s important to choose the right company and policy to properly address the senior’s particular needs. Best Life Insurance Companies for Seniors Over 65 Since there are a few different choices on which policy to buy, let’s take a look at them one-by-one to help you choose the right policy and company for you in...

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Best Life Insurance Companies for High Blood Pressure in 2015

The best life insurance companies for high blood pressure in 2015 (hypertension) offer cheaper rates due to their underwriting criteria for this condition. High blood pressure (hypertension) can be a serious health condition if left untreated.  Damage to the arteries, heart, brain, and kidneys are possible repercussions of not controlling hypertension.  Fortunately, with advances in medicine, today high blood pressure is a very treatable condition and for some insurers won’t affect your rating category. The CDC reports that an estimated 68 million adults have high blood pressure or are treating their hypertension with a blood pressure lowering medication such as Lisinopril, Norvasc, beta blockers or a water pill.  That’s roughly a third of the adult U.S. population.  Fortunately, an...

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Best Life Insurance Companies for High Cholesterol in 2015

The best life insurance companies in 2015 for someone with high cholesterol offer cheaper rates and view the risk more favorably than other life insurers. According to the CDC, about 33% which equates to 71 million of adults in the United States have high levels of bad cholesterol.  Nearly half of those with high cholesterol are receiving treatment and only 23 million have their cholesterol levels in check. The health problems that can result from having high cholesterol are numerous and can be very dangerous. These include the elevated risk of heart disease, stroke, high blood pressure and diabetes.  Since life insurance rates are determined by the health of the applicant-i.e. the risk to the insurance company, having high...

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AXA Equitable Life Insurance Review 2016

AXA Equitable Life Insurance Review 2016 Pros: Financial Strength– AXA Equitable Life Insurance Company is A+ (Superior) rated in 2016, second highest of 16 possible ratings.  Global Strength– AXA Group is one of the largest insurance and wealth management organizations in the world with AXA Equitable having over $519.3 billion in assets under management.  Local Agents– AXA Life Insurance distribution channel is through local agents and not online which some people prefer when purchasing insurance.  Unique policy offering– In addition to offering the traditional policies they have a one-year non-renewable convertible term product who individuals who only need a policy temporary coverage immediately. Cons: There are not too many cons with AXA Equitable Life Insurance Company.  AXA currently doesn’t...

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