August, 19 2017

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Life insurance reviews, news and prices from the top companies

Best Life Insurance Companies That Pay Out

Best Life Insurance Companies That Pay Out

A common question many of the clients we talk to ask “What are the Best Life Insurance Companies That Pay Out”  to ensure my family will be covered if anything were to happen to me? This is why everyone that purchases a life insurance policy wants to have the peace of mind knowing the company they pay their hard earned money for will fulfill its obligation, their end of the bargain, and pay out the money if anything were to happen.

 

What You Need To Know

Here is the truth when it comes to life insurance in the United States.  Life insurance is one of the most regulated industries in the country.  As long as you choose a highly rated company, A, A+ or A++ rated company by A.M. Best, you can rest assured you are choosing a company that received an excellent or superior rating meaning this is their ability to meet their ongoing obligations to policyholders.  

 

Life Insurance Exclusions

One of the most common questions we receive is “what doesn’t my life insurance cover?” “What are the exclusions?” Here’s the answer:

  1. Suicide– Most life insurance polices have a two year suicide exclusion clause. This means if you were to commit suicide in the first two years of the policy date, your family won’t receive the coverage amount, typically only a return of the premiums paid.
  2. Contestability Clause– Most life insurance policies have a two year contestability clause. This means if you were to die in the first two years of the policy and weren’t fully honest on your application and the insurance company doesn’t catch it during underwriting, they can contest it if you die in the first two years of the policy date.  Examples would include that you are professional race car driver and not disclose it on the application or have had a health condition such as prostate cancer 6 months ago but not disclose it; the insurance could contest the claim if death occurs in the first two years of the policy.
  3. Fraud– If you said you were someone else, not the actual person then the life insurance company could contest it. Clerical errors such as wrong sex; male or female, date of birth, etc. will still typically pay out just adjusted for the correct information.

Who Pays Out Their Claims?

The truth is that all life insurance companies will honor the contract and payout the claim as long as it valid (meaning not one of the three exclusions we described above). A highly rated, reputable company will pay out according to the policy contract.  The issues occur when the insured didn’t fully disclose something on the application or one of the other two exclusions above.

A recent issue life insurance companies faced was that the beneficiary didn’t file a claim.  Many of the top life insurance companies in the U.S. have settled multi-million payouts because the beneficiary never claimed the life insurance money and the life insurance company wasn’t proactive in finding the beneficiary.  However, if your beneficiary knows about the policy and files a claim this is not an issue.

One other issue that some beneficiaries encounter is on a graded death benefit policy for seniors. Unlike a traditional life insurance policy, these policies are typically for seniors in not so great health and the application don’t ask any health questions and will have a two year waiting period for natural causes. If the insured passes away in the first two years the beneficiary typically only receives the money back that was paid into the policy plus a small interest rate.

 

Below Is a List of the Best Life Insurance Companies That Pay Out

Northwestern Mutual Life Insurance

New York Life Insurance Company

New York Life Insurance & Ann

Knights of Columbus

Berkshire Hathaway Life of NE

General Re Life Corporation

Northwestern Long Term Care

Thrivent Financial Lutherans

USAA Life Insurance Company

TIAA-CREF Life Insurance Company

Thrivent Life Insurance Company

Berkshire Life Insurance Co of America 

USAA Life Insurance Co of NY

Massachusetts Mutual Life Insurance

State Farm Life Insurance Company

Guardian Life Insurance Company of America    

Guardian Insurance & Annuity Company

C M Life Insurance Company    

MML Bay State Life Insurance Company

State Farm Life & Acc Assur Co

Allianz Life Insurance Co of NY

CSI Life Insurance Company

Great-West Life & Annuity

Western-Southern Life Assur

Western & Southern Life Insurance

Integrity Life Insurance Company

Lafayette Life Insurance Company

National Integrity Life Insurance Company

Metropolitan Tower Life Insurance Company

Columbus Life Insurance Company

Great-West Life & Ann NY

RiverSource Life Insurance Company

American United Life Insurance Company

Swiss Re Life & Health America

State Life Insurance Company

RiverSource Life Ins Co of NY

Companion Life Insurance Company

HCC Life Insurance Company

Sun Life & Health Insurance Co US

United World Life Insurance Company

Metropolitan Life Insurance Company

Jackson National Life Insurance Company

Sun Life Assur

Prudential Annuities Life Assur

Mutual of America Life Insurance Company

Pruco Life Insurance Company of NJ

General American Life Insurance Company

Jackson National Life Insurance of NY

Banner Life Insurance Company

William Penn Life Insurance Company of NY

United of Omaha Life Insurance Company

Mutual of Omaha Insurance Company

Allstate Assur Co

Prudential Insurance Company of America

John Hancock Life Insurance Company USA

Pruco Life Insurance Company

Prudential Retirement Insurance &Annuity

Minnesota Life Insurance Company

John Hancock Life Insurance Company NY

John Hancock Life & Health Insurance

Securian Life Insurance Company

Allianz Life Insurance Company North America

Transamerica Premier Life Insurance Company

Penn Mutual Life Insurance Company

American Life Insurance Company DE

Transamerica Advisors Life Insurance

Penn Insurance & Annuity Company

Globe Life And Accident Insurance Company

American Income Life Insurance Company

Protective Life & Annuity Insurance

United American Insurance Company

Lincoln National Life Insurance Company

Principal Life Insurance Company

Transamerica Life Insurance Company

Pacific Life Insurance Company

American Family Assurance Columbus

Transamerica Financial Life

Fidelity Investments Life Insurance

UnitedHealthcare Insurance Company

Lincoln Life & Ann Co NY

Liberty National Life Insurance Company

Pacific Life & Annuity Company

Wilco Life Insurance Company

Empire Fidelity Investments Life

Texas Life Insurance Company

Principal National Life Insurance Company

Nationwide Life Insurance Company

Ohio National Life Insurance Company

Nationwide Life & Annuity Insurance

Ohio National Life Assurance Corp

Primerica Life Insurance Company

Golden Rule Insurance Company

Midland National Life Insurance Company

Protective Life Insurance Company

North American Company for L&H

West Coast Life Insurance Company

American Family Life Assur NY

Cigna Health & Life Insurance Company

SCOR Global Life USA Re Co

SCOR Global Life Reins Co DE

Allstate Life Insurance Company

Connecticut General Life Insurance

Allstate Life Insurance Company of NY

First Reliance Standard Life

MONY Life Insurance Company

Anthem Life Insurance Company

AXA Equitable Life Insurance Company

Aetna Life Insurance Company

Life Insurance of North America

MONY Life Insurance Company of America

Reliance Standard Life Insurance Company

Ameritas Life Insurance Corp

AGC Life Insurance Company

Cincinnati Life Insurance Company

Ann Investors Life Insurance Company

American Heritage Life Insurance Company

Ameritas Life Ins Corp of NY

US Financial Life Insurance Company

Cigna Life Insurance Company of New York

Cigna Worldwide Insurance Company

American General Life Insurance Company

Variable Annuity Life Insurance Company

United States Life Insurance of New York

First Penn-Pacific Life Insurance Company

Great American Life Insurance Company

National Life Insurance Company

Standard Insurance Company

CMFG Life Insurance Company

American National Insurance Company

Liberty Life Assur of Boston

National Western Life Insurance Company

Hartford Life & Association Insurance

Dearborn National Life Insurance Company

Pan-American Life Insurance Company

Provident Life & Casualty

American National Life Insurance NY

Standard Life Insurance of NY

Members Life Insurance Company

Dearborn Natl Life NY

Brighthouse Life Insurance Company

Voya Retirement Insurance & Annuity Company

Voya Insurance & Annuity Company

Symetra Life Insurance Company

Unum Life Insurance Company of America

ReliaStar Life Insurance Company

Security Life of Denver Insurance Company

New England Life Insurance Company

Provident Life & Association

Paul Revere Life Insurance Company

First Unum Life Insurance Company

Colonial Life & Association Insurance

ReliaStar Life Insurance Co of NY

First Symetra Nat Life Insurance NY

Zurich American Life Insurance Company

Horace Mann Life Insurance Company

Savings Bank Life Insurance Company of MA (SBLI)

Pacific Guardian Life Co Ltd

Standard Life & Accident Insurance

Usable Life

Athene Ann & Life Company

Athene Ann & Life Assur Co

Athene Ann & Life Assur NY

AXA Equitable Life & Ann

Unum Insurance Company

Union Security Insurance Company

American Bankers Life Assur Co

United Insurance Co of America

Forethought Life Insurance Company

Bankers Life & Casualty Company

Commonwealth Annuity & Life

Washington National Insurance Company

First Allmerica Financial Life

American Memorial Life Insurance Company

Colonial Penn Life Insurance

Midwestern United Life Insurance Company

Humana Ins Co of KY

American Nat’l Life Insurance Texas

Reliable Life Insurance Company

Union National Life Insurance Company

American Equity Invest Life

Hartford Life Insurance Company

Hartford Life & Annuity Insurance

Bankers Conseco Life Insurance

Accordia Life Insurance Company

ShelterPoint Life Insurance Company

Delaware Life Insurance Company

Lincoln Benefit Life Company

Delaware Life Insurance Co NY

Eagle Life Insurance Company

American Equity Invest Life NY

UNICARE Life & Health Insurance Company

Genworth Life & Ann Insurance

Fidelity & Guaranty Life Insurance

Genworth Life Insurance Company

Genworth Life Insurance Company NY

Fidelity & Guar Life Insurance Company NY

Security Benefit Life Insurance Company

First Security Benefit L&A NY

EquiTrust Life Insurance Company

Health Net Life Insurance Company

Kanawha Insurance Company

Phoenix Life Insurance Company

PHL Variable Insurance Company

Prudential Legacy Insurance Company NJ

Union Fidelity Life Insurance Company

Modern Woodmen of America

Southern Farm Bureau Life Insurance

Guggenheim Life & Annuity Company

Woodmen of the World Life Society

Country Life Insurance Company

Farm Bureau Life Insurance Company

Farmers New World Life Insurance Company

Sentry Life Insurance Company

Lombard Intl Life Assurance Company

American Fidelity Assurance Company

Brooke Life Insurance Company

Jefferson National Life Insurance Company

Americo Financial Life & Annutiy

Auto-Owners Life Insurance Company

National Guardian Life Insurance Company

Gerber Life Insurance Company

Kansas City Life Insurance Company

Union Labor Life Insurance Company

Independence Life & Annuity Company

Homesteaders Life Company

Security Mutual Life of NY

Assurity Life Insurance Company

Farm Bureau Life Ins Company of MI

Wilcac Life Insurance Company

LifeCare Assurance Company

United Farm Family Life Insurance Company

Erie Family Life Insurance Company

Physicians Mutual Insurance Company

Tennessee Farmers Life Insurance Company

GBU Financial Life

Foresters Life Insurance & Annuity

Federated Life Insurance Company

Paragon Life Insurance Company IN

Reinsurance Co of Missouri

Oxford Life Insurance Company

Physicians Life Insurance Company

All Savers Insurance Company

Liberty Bankers Life Insurance Company

United Life Insurance Company

SBLI USA Life Insurance Company

Trustmark Insurance Company

Pekin Life Insurance Company

Blue Cross & Blue Shield KS

Illinois Mutual Life Insurance Company

Combined Insurance Co of America

Catholic Financial Life

Columbian Mutual Life Insurance Company

Conseco Life Insurance Company of Texas

Alfa Life Insurance Corp

Boston Mutual Life Insurance Company

Farm Family Life Insurance Company

Gleaner Life Insurance Society

Centurion Life Insurance Company

Funeral Directors Life Insurance Company

Amica Life Insurance Company

Great Western Insurance Company

Shelter Life Insurance Company

Western United Life Assur Co

Catholic Life Insurance

Catholic Order of Foresters

Universal Life Insurance Company

Sagicor Life Insurance Company

Automobile Club of Southern CA Life

Shenandoah Life Insurance Company

Reliance Standard Life of TX

Royal Neighbors of America

Athene Life Insurance Company of NY

EMC National Life Company

American Republic Insurance Company

Lincoln Heritage Life Insurance Company

American Health & Life Insurance

Fidelity Security Life Insurance Company

First Catholic Slovak Ladies

Government Personnel Mutual

Ozark National Life Insurance Company MO

United Fidelity Life Insurance Company

Auto Club Life Insurance Company

ELCO Mutual Life & Annuity

Monarch Life Insurance Company

WEA Insurance Corporation

HM Life Insurance Company

AAA Life Insurance Company

Sentinel Security Life Insurance Company

Investors Life of North America

Continental American Insurance Company

Triple-S Vida Inc

Farm Bureau Life Insurance Company of MO

Merit Life Insurance Company

United Heritage Life Insurance Company

Guarantee Trust Life Insurance Company

Manhattan Life Insurance Company

Pioneer Mutual Life Insurance Company

National Benefit Life Insurance Company

Natl Teachers Association Life Insurance

UnitedHealthcare Life Insurance Company

New Era Life Insurance Company

Guaranty Income Life Insurance Company

Unimerica Insurance Company

Crown Global Insurance Company of America

Motorists Life Insurance Company

Educators Life Insurance of America

Mutual Savings Life Insurance Company

National Security Life & Annuity

First Health Life & Health Insurance

Grange Life Insurance Company

Investors Heritage Life Insurance Company

Bankers Life Insurance Company

Constitution Life Insurance Company

American Fidelity Life Insurance Company

Combined Life Insurance Company of NY

Central States H&L Co of Omaha

William Penn Association

Harleysville Life Insurance Company

Fidelity Life Association

Settlers Life Insurance Company

National Farm Life Insurance Company

Central United Life Insurance Company

First Catholic Slovak Union

Trans World Assur Company

Colorado Bankers Life Insurance Company

Atlantic Coast Life Insurance Company

Companion Life Insurance Company

Cotton States Life Insurance Company

Madison Natl Life Insurance Company Inc

Sunset Life Insurance Company of America

Family Service Life Insurance Company

Columbian Life Insurance Company

Best Meridian Insurance Company

Equitable Life & Casualty

LifeSecure Insurance Company

Trustmark Life Insurance Company

COUNTRY Investors Life Assur

Church Life Insurance Corporation

5 Star Life Insurance Company

Clear Spring Life Insurance Company

State Mutual Insurance Company

American-Amicable Life Insurance TX

Loyal American Life Insurance Company

Berkley Life & Health Insurance Company

Park Avenue Life Insurance Company

Philadelphia American Life Insurance

Old American Insurance Company

Vantis Life Insurance Company

Occidental Life Ins Co of NC

Sons of Hermann in Texas

American Home Life Insurance Company

Capitol Life Insurance Company

Globe Life Insurance Company of NY

John Alden Life Insurance Company

Unity Financial Life Insurance Company

Time Insurance Company

Unified Life Insurance Company

Great Southern Life Insurance Company

Nippon Life Insurance Company of America

4 Ever Life Insurance Company

National Income Life Insurance

National Farmers Union Life

Forethought National Life Insurance

PacifiCare Life & Health Insurance

First Berkshire Hathaway Life

NYLIFE Insurance Company of Arizona

Manhattan National Life Insurance Company

IA American Life Insurance Company

Family Life Insurance Company

Standard Security Life of NY

Caterpillar Life Insurance Company

Athene Life Insurance Company

Bankers Fidelity Life Insurance Company

GPM Health & Life Insurance Company

Life Insurance Company of Boston & NY

Chesapeake Life Insurance Company

Delaware American Life Insurance Company

Garden State Life Insurance Company

Reserve National Insurance Company

Jamestown Life Insurance Company

Old Republic Life Insurance Company

American Benefit Life

Cincinnati Equitable Life

Amalgamated Life Insurance Company

Life Insurance Company of Alabama

New Era Life Insurance Company Midwest

Multinational Life Insurance Company

Professional Insurance Company

Southern Financial Life Insurance Company

Supreme Council Royal Arcanum

Life of the South Insurance Company

Freedom Life Insurance Co of America

Omaha Insurance Company

Central Security Life Insurance Company

American Public Life Insurance Company

United Home Life Insurance Company

Medico Insurance Company

Mid-West National Life of TN

Sentry Life Insurance Company of New York

Germania Life Insurance Company

Pioneer Security Life Insurance Company

Old United Life Insurance Company

Union Security Life Insurance NY

American Retirement Life Insurance

Pyramid Life Insurance Company

Starmount Life Insurance Company

Southern Life & Health Insurance Company

Trans-Oceanic Life Insurance Company

Citizens Fidelity Insurance Company

LifeShield National Insurance Company

American Underwriters Life Insurance

Zurich American Life Insurance Company NY

HM Life Insurance Company NY

Christian Fidelity Life Insurance Company

American Maturity Life Insurance Company

Bluebonnet Life Insurance Company

Greater Georgia Life Insurance Company

Advance Insurance Company of Kansas

National Security Insurance Company

Pioneer American Insurance Company

Medico Corp Life Insurance Company

ACE Life Insurance Company

Florida Combined Life Insurance Company

Jefferson National Life Insurance NY

Sterling Life Insurance Company

Atlanta Life Insurance Company

Landmark Life Insurance Company

American Modern Life Insurance Company

Unimerica Life Insurance Company of New York

Fidelity Security Life Insurance New York

First Command LIC

Enterprise Life Insurance Company

American Federated Life Insurance

North Carolina Mutual Life Insurance

National Foundation Life Insurance

Intramerica Life Insurance Company

Performance Life of America

Phoenix Life & Annuity Company

Lewer Life Insurance Company

Central Reserve Life

Standard Life & Casualty Insurance

Western American Life Insurance Company

Sentinel American Life Insurance Company

Individual Assur Life Health & Accident

SWBC Life Insurance Company

Plateau Insurance Company

National Health Insurance Company

Anthem Life & Disability Insurance Company

Direct General Life Insurance

Citizens Security Life Insurance Company

American Republic Corp Insurance Company

United National Life of America

American Independent Network of NY

Monitor Life Insurance Company

Landcar Life Insurance Company

MAPFRE Life Insurance Company

Patriot Life Insurance Company

IdeaLife Insurance Company

United Security Assur Co of PA

Investors Growth Life Insurance Company

North American Insurance Company

Kentucky Funeral Directors Life

Trans-City Life Insurance Company

Provident American Life & Health

Companion Life Insurance Company of CA

BEST Life & Health Insurance Company

Colonial Life Insurance Company of Texas

Niagara Life & Health Insurance Company

Service Life & Casualty Insurance Company

Symetra National Life Insurance Company

Omaha Health Insurance Company

United Commercial Travelers

Wichita National Life Insurance Company

Commercial Travelers Mutual

Bankers Life of Louisiana

Missouri Valley Life & Health

Southern Pioneer Life Insurance Company

Medico Life & Health Insurance Company

Greenfields Life Insurance Company

Ohio State Life Insurance Company

Triple-S Blue Inc.

S.USA Life Insurance Company

Vantis Life Insurance Company of NY

Heartland National Life Insurance Company

Life of America Insurance Company

Financial Assur Life Insurance

Mountain Life Insurance Company

Omaha Life Insurance Company

Allianz Life & Annuity Company

Ohio Motorists Life Insurance Company

USIC Life Insurance Company

ShelterPoint Insurance Company

Life Insurance Company of Louisiana

Cigna Arbor Life Insurance Company

Physicians Benefits Trust Life

Trustmark Life Insurance Company of NY

State Farm Health Insurance Company

AAA Life Insurance Company of NY

Commencement Bay Life Insurance Company

Assurity Life Insurance Company NY

Southern Financial Life Insurance Company

TPM Life Insurance Company

NTA Life Insurance Company of NY

Resource Life Insurance Company

Versant Life Insurance Company

Amalgamated Life & Health

Legacy Life Insurance Company of Missouri

Financial American Life Insurance Company

First National Life of USA

Life Protection Insurance Company

Marquette Indemnity & Life Insurance

Academe Inc

Kentucky Home Life Insurance Company

Texas Directors Life Insurance Company

Westport Life Insurance Company

American Farm Life Insurance Company

Windsor Life Insurance Company

Great Fidelity Life Insurance Company

United Benefit Life Insurance Company

Colonial Security Life Insurance Company

Gulf States Life Insurance Company

Sheridan Life Insurance Company

Great Western Life Insurance Company

American Service Life Insurance Company

Connecticut Life Insurance & Annuity

Tennessee Life Insurance Company

Pekin Financial Life Insurance Company

 

Peace of Mind By Choosing One of The Best Life Insurance Companies That Pay Out

As we stated above, life insurance is one of the most regulated industries in America.  As long as you choose a highly rated company and are honest on your application (and do not commit suicide in the first two years) you can have the peace of mind that your policy will payout.

 

 

*This article is for informational purposes only and is not a substitute for tax, legal or insurance advice. Please contact an agent or insurance company for your specific situation.

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