The Best Life Insurance Companies 2015 possess all of the attributes that you need in a life insurance company. How did a company make our Best Life Insurance Companies 2015 list? We looked at several factors, in combination such as; the best rates in the country, combined with a high A.M Best financial rating, favorable underwriting guidelines and having a great reputation as far as paying out claims in a timely manner. These companies have been carefully monitored, researched and most importantly; are tried-and-true as they are the ones we trust to place our clients with.
Are All Life Insurance Companies the Same?
No. Every life insurance company is different from another. There are over nine hundred plus life insurance companies in America in 2015, and each one of they will offer you a different price. While one life insurance company may provide your parents the lowest rate in the country due to their niche of catering to seniors over 65, that same company may not offer competitive pricing for yourself. Unlike auto, home or health insurance, life insurance is something that can be shopped strictly on price. There isn’t any ambiguity in claims for life insurance as there are in other types of insurance.
All life insurance policies have two clauses; you can’t commit suicide in the first two years and there is a two year contestability period if you lie on your application. Other than that, if you pass away and your beneficiary submits a death certificate the life insurance company will pay out the claim. Therefore, it’s important to shop around and find the life insurance company that will offer YOU the lowest price and allow you to have the most amount of life insurance to protect your family while saving the most money.
Best Life Insurance Companies 2015
Our list below for 2015 is in no particular order as the best life insurance company will vary depending on the person, (i.e. age, height, weight, medications, medical conditions, driving history, etc.) but these are the companies we use for our clients and have had great positive feedback and experience. Feel free to click on the company name for a link to a more detailed review of the insurer.
Prudential is a preeminent life insurer that makes our list annually and this year is no different. Prudential is one of the best life insurance companies in America right now in 2015, hands down. Their underwriting is aggressive, their rates are often the best in the nation and they are very highly rated. Also, Prudential’s term policies also offer some of the best conversion options in the industry. Prudential is one of the few if only companies in America that will allow someone who chews tobacco (dip) or smokes cigars daily to receive a non-tobacco rate in 2015. They also have some of the best underwriting for cholesterol, sleep apnea, travel and allow for the best rate class for prescription marijuana.
Prudential A.M. Best Rating 2015-A+ (Superior) Founded: 1875
MetLife makes our list in 2015 as one of the best life insurance companies in America. MetLife loosed up their underwriting guidelines a bit last year and also lowered their prices. MetLife will typically not the have absolute lowest price in the country but they’re often in the top 10. Many of the clients we work with tell us they want a life insurance company they recognize and don’t mind paying a little more money for that name recognition.
MetLife A.M. Best Rating 2015-A+ (Superior) Founded: 1888
Banner Life Insurance Company may not be a household name such as Prudential or MetLife but Banner is one of the top life insurance companies in America in 2015. The reason why? Banner Life typically will have some of the lowest rates in the country for healthy people. Also, they offer a standard plus table rate, which means diabetics (type I and II) and people in not so perfect health, can still receive very competitive rates. Banner Life,based in Maryland, is A+ Superior rated with a Comdex score of 94 out of 100.
Banner Life A.M. Best Rating 2015-A+ (Superior) Founded: 1836 (Legal & General)
Transamerica is consistently a top life insurance company in America year after year. Famous for their logo- The Transamerica building in the San Francisco skyline, Transamerica is great insurance company. With an A+ Superior A.M. Best financial rating and competitive underwriting in certain niches, including life insurance for seniors and 25 year terms, Transamerica is always a top choice.
Transamerica A.M. Best Rating 2015-A+ (Superior) Founded: 1930
AIG (also know as American General Life Insurance Company) makes our list as one of the best life insurance companies in 2015. AIG offers some of the lowest rates in the country, especially for healthy individuals. American General also has very favorable table rates including those with diabetes. Similar to Transamerica, AIG offers a 25 year term at competitive prices. With a global brand name, great customer service, competitive pricing and favorable underwriting- AIG is still one of best life insurance companies in America.
AIG (American General Life) A.M. Best Rating 2015-A (Excellent) Founded: 1850
Genworth Life Insurance Company makes our list of the best life insurance companies 2015 due to their very favorable build charts (height and weight) and their driving guidelines. Genworth is one of the few companies in America that allow a person with up to 5 moving violations tickets (speeding, red light, rolling stop, etc.) to still qualify for the best rating class. The formally owned General Electric Company is consistently ranked in the top 25 in the country as far as market share.
Genworth Life A.M. Best Rating 2015-A (Excellent) Founded: 1871
Protective Life may not be a household name life insurance company like many of the other companies that made our list; but nonetheless they are a top life insurer in 2015. Protective Life offers some of the lowest rates in the nation. Also, Protective Life has a revolutionary product that acts just like a term policy during the level term period, but unlike a traditional term policy, Protective Life’s policy rate does not increase when the term ends, just the face amount decreases. This is a great option for people who won’t need as much coverage when their initial term is over and want to pay the same low premium as when they first took out the policy.
Protective Life A.M. Best Rating 2015-A+ (Superior) Founded: 1907
Sagicor makes our list because they offer the best priced no medical exam life insurance policy in 2015. For those who want to bypass the life insurance physical, Sagicor is one of the first insurers you need to look at. Sagicor’s no physical exam (simplified issue) policy is very competitively priced and often cheaper than many of nations top carriers that require a medical exam at a preferred rating class.
Sagicor Life A.M. Best Rating 2015-A- (Excellent) Founded: 1840
Additional life insurance companies that make our 2015 list include: SBLI (Savings Bank Life Insurance), Voya Financial (ReliaStar Life Insurance Company), Mutual of Omaha Life Insurance Company, Cincinnati Life Insurance Company, Ohio National Life Assurance Corporation, MidLand National Life Insurance Company and North American Company for Life and Health.
There are nearly one thousand life insurance companies in America so this list is by no means absolute. This list of the best life insurance companies 2015 does however represent the life insurers that will offer the lowest prices in America, are highly rated, have the best underwriting guidelines and are the companies you need to take a look at when shopping for a life insurance policy.