March, 24 2017

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Life insurance reviews, news and prices from the top companies

Genworth Life Insurance Review

Genworth Life Insurance Review 2016 In 2016 Genworth Life Insurance has suspended (closing) it’s sales for new life insurance.  This will not affect current policy holders but sales of new life insurance products will not be available. The review below was originally written a few years back but we have updated the ratings as of February 2016. Pros:  Prices & underwriting- Genworth is typically right there at the top of the list for having some of the lowest rates in the country.   Also, Genworth has favorable underwriting guidelines for applicants facilitating an approval at the same rate that was applied for.  Size and market share- Genworth Life Insurance Company is a top 20 life insurance company in 2015. Cons: ...

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Allstate Life Insurance Review 2016

Allstate Life Insurance Review 2016 Pros:  Financial Strength– Allstate Life Insurance Company has an A+ (Superior) rating from A.M. Best in 2016 (second highest of 16 possible ratings).  Size– Allstate is also a top 20 life insurance company in America as far as premiums and market share.  Name recognition– Allstate is a household name thanks to their successful advertising campaigns.  Accessibility– They employ local agents as well as a direct sales unit.  Website– Allstate has one of the most user-friendly websites of any life insurance company in America.  In addition, Allstate offers discounts when you bundle policies with your auto. Cons:  Price- Allstate’s life insurance rates are more expensive compared to the industry in 2016. (See rate comparison chart...

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(SBLI) Life Insurance Review 2016

(SBLI) The Savings Bank Life Insurance Company of Massachusetts Life Insurance Review 2016 Pros:  Prices– SBLI consistently has the lowest term life insurance rates in the nation in 2016.  Financial Strength– Currently has an A+ (Superior) financial strength rating with A.M. Best.  Stability– SBLI has been in business for over 100 years.  Website– Allows you to receive instant quotes without needing to provide any personal information. Cons:  There aren’t too many cons with SBLI. Bottom Line:  If you are in good health SBLI will usually come back with one of the best rates in the country.  SBLI was founded in 1907 showing they are a life insurance company your family can count on.  With an A+ (Superior) financial rating...

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Colonial Penn Life Insurance Company Review

Colonial Penn Life Insurance Company Review Pros: Colonial Penn’s website offers instant quotes and is easy to navigate.  Colonial Penn offers two products without an medical exam; a guarantee acceptance policy with a two year waiting period for natural causes and a simplified issue whole life insurance policy with a few health questions. Cons:  Price- Colonial Penn seems to be a little more expensive compared to other companies offering a similar policy.  Additionally, as with most companies who offer guaranteed acceptance life insurance, many people have posted complaints online about being unaware that the guaranteed acceptance life insurance has a two-year waiting period for natural causes. Bottom Line:  Colonial Penn has a large advertising presence on TV with their...

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Lincoln National Life Insurance Review

Lincoln National Life Insurance Review  Pros:  Financial strength-  Lincoln National Life has an A+ (Superior) financial rating by A.M. Best (second highest of 16 possible ratings).  Stability- Lincoln Life was established in 1905, demonstrating durability as an insurer having been around for more than 100 years.  Top producing company- Lincoln National is a top 10 life insurance company with over $5.8 billion in direct premiums in 2012.  Smokeless tobacco niche- Lincoln is one of a select few companies that offer non-tobacco rates for users of smokeless tobacco such as cigars, chew and dip. Cons: There isn’t not too many cons with Lincoln National Life.  While they are competitively priced they typically do not have the absolute lowest rates of...

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Aflac Life Insurance Review

Aflac Life Insurance Review Pros: Highly Rated- Currently has an A+ (Superior) rating from A.M. Best (second highest of 16 available ratings).  Prominent & well-known insurance company- One of the largest insurance companies in America by market share and has one of the most well-known recognizable names in insurance thanks to the Aflac duck adverting campaign. Cons:  Life insurance rates are expensive for individuals.  (See rate comparison below)  While their group and supplemental insurance may be competitively priced their individual life insurance policies are very expensive.  Also, the maximum amount of coverage available for individuals is $250,000 and $200,000 in certain states like in California. Bottom Line:  Aflac is one the largest insurance companies in America thanks to its...

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Northwestern Mutual Life Insurance Review 2016

Northwestern Mutual Life Insurance Review 2016 Pros:  Financial strength– Northwestern Mutual has the highest rating available possible from each of the four major rating agencies, a perfect 100 out of 100 Comdex score, which is extremely rare in 2016. Northwestern Mutual was one of the top insures who did not need to accept bail out money during the financial crisis in 2008-2009.  NW Mutual is also one of the largest and most storied insurance companies in America and have been around since 1857.  They are the largest direct provider and writer of individual life insurance in America.  In addition, their business model of still meeting with clients personally is something many insureds feel more comfortable with.  Northwestern Mutual also...

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ING ReliaStar Life Insurance Review

ING (Now Voya Financial) ReliaStar Life Insurance Review– Voya Financial Life Insurance Review 2015 Pros:  ING (Voya Financial) is one of the largest life insurance companies in America and a top five writer of term life.  VOYA also has favorable underwriting niches, such as family history of cancer, where they offer some of the lowest rates in the nation. They will typically have the lowest prices on $200,000 policies.  Also, for seniors over 60, ReliaStar offers very competitive underwriting for diabetics and blood pressure treatment. Cons: ING no longer offers a 25 & 30-year term life policy.  Bottom Line:  ING (now Voya Financial-ReliaStar Life Insurance) is a top 5 term life insurance company with an “A” (Excellent) rating by...

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Protective Life Insurance Company Review 2016

Protective Life Insurance Company Review 2016   Pros:  Protective Life has some of the best rates in the entire country in 2016 on term and universal life insurance.  You can often purchase a lot more life insurance to protect your family through Protective vs. other insures.  Protective is rated in the highest category “Superior” by the top rating agency A.M. Best.  Protective Life also is very stable with a rich tradition as they’ve been around for over 100 years.  Although they may not be a household name, Protective Life one of the largest life insurance companies in America as far as market share in 2016.  Protective Life Insurance Company offers a unique term life insurance policy in that when...

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New York Life Insurance Review

New York Life Insurance Review 2016 Pros:  Financial strength- New York Life has a perfect  A++ rating by A.M. Best (highest of 16 possible ratings) and a perfect 100 Comdex score (average rating from the 4 major rating agencies).  They were even one of the top insures who did not need to accept bail out money during the financial crisis in 2008-2009.  New York Life is the largest mutual life insurance company in the country and a symbol of stability as they’ve been around over 150 years. Cons:  New York Life’s prices are often much higher than many other top life insurers with a similar financial rating for term life insurance. (See table below) Bottom Line:  New York Life is...

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MetLife Life Insurance Review 2016

MetLife Life Insurance Review 2016   Pros:  MetLife continually ranks as the #1 life insurance in America in sales and total assets.  Financial strength- MetLife is A+ (Superior) rated by A.M. Best (second highest of 16 possible ratings) and they are one of the most well-known insurance companies in the world in 2016. Cons:  Their prices are competitive but not the rock-bottom lowest. Bottom Line:  MetLife is the largest life & health insurer in America.  They have a superior financial rating and have been providing quality life insurance since before the turn of the century.  While there are other life insurances companies out there with lower rates and more favorable underwriting guidelines, MetLife typically ranks up at the top...

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American General Life Insurance Review

(AIG) American General Life Insurance Review   Pros: Competitive prices, favorable underwriting guidelines for consumers, best prices in certain areas- diabetics and table rates, number one for customer satisfaction survey in 2013 on insure.com and have stability as their roots date back to 1850.  Claims- American General Life Companies have paid out over $38 billion in claims and benefits over the past 5 years.  In addition, their parent company- AIG is one of the most well-known and recognizable insurance companies in the World. Cons: There are not many cons with American General.   Minor drawbacks would include the fact that they use electronic delivery of their life insurance policies which means insured’s don’t receive a hard copy in the mail...

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Globe Life Insurance Review 2016

Globe Life Insurance Review 2016 (updated 2/2016) The Pros:  Globe Life and Accident Life Insurance Company has a very easy application process with no medical exam and only a few health questions.  Also, there is no two year waiting period, coverage begins once the policy is issued for both natural and accidental death.  Additionally, Globe Life is A+ Superior rated (second highest of 16 ratings) by A.M. Best for financial strength. The Cons: Globe Life’s popular term life insurance for adults policy is a step-rate insurance plan and the rate increases every 5 years (every 5th birthday).  This is attractive initially since the price is low to begin (even $1 for the first month) but the rate increases as...

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Western Southern Life Insurance Company Review

Western Southern Life Insurance Company Review Pros:  Western & Southern Life is highly rated- A+ Superior by A.M. Best (second highest of 16 ratings) with a Comdex score of 97 out of a possible 100.  They also have a great reputation for excellent customer service.  W&S Life has stability as they were established more than 125 years ago.  W&S also follows the face-to-face sales model which some people prefer. Cons:  Western & Southern Life’s term rates are often more expensive compared to what is available elsewhere, also underwriting can be strict sometimes which can pose additional problems for applicants. Bottom Line:  Western & Southern is highly rated life insurance company with an excellent customer service ranking.  You can feel...

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Banner Life Insurance Company Review

Banner Life Insurance Company Review Pros: Price- Banner Life Insurance Company is typically one of lowest priced term life companies in America while still having an A+ (Superior) A.M. Best rating (2nd highest rating available).  In addition to their low premiums and high financial rating, they have very favorable underwriting. Cons:  There aren’t too many negative aspects to this company especially when you look at the good.  One perceived weakness is their brand recognition in America.  They’re not a household name in insurance such as MetLife or AIG. Bottom Line: Right now Banner is one of the best term life insurance companies in America in 2016.  With favorable underwriting guidelines, an A+ Superior rating and some of the lowest...

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