November, 24 2017

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Life insurance reviews, news and prices from the top companies

Baltimore Life Insurance Company Review

Baltimore Life Insurance Company Review Pros: Stability– Baltimore Life has been in business for over 130 years and is the thirty-sixth oldest life insurance company in the U.S.  Cons:  Their term rates are not the most competitive and their A.M. Best rating is not in the A- (Excellent) or better category that see with many of the companies we review. Bottom Line: The Baltimore Life Insurance Company has been around since 1882 and has met their financial obligations (paid out claims) to their policyholders for the past 130 years.  Baltimore Life provides a variety of life insurance products to meet almost any need, including their popular life insurance solutions for seniors.  However, their financial rating of B++ is a...

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Royal Neighbors of America Review

Royal Neighbors of America Review Pros: History– Royals Neighbors of America was has been in business since the late nineteenth century and has a track record of stability. Variety of Products– Royal Neighbors Life Insurance offers an impressive selection of products that include: term life, whole life, universal life, annuities and popular final expense policies that offer an immediate underwriting decision at the point of sale. Cons: Royal Neighbors has competitive rates but often not the absolute lowest. Bottom Line: Royal Neighbors of America was founded by women over one hundred years ago and today is one of the largest women run life insurance companies in America.  RNA has an impressive selection of life insurance product offerings.  The bottom...

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Country Financial Life Insurance Review

Country Financial Life Insurance Review Pros: Size– Country Financial is ranked at #668 in 2014 on the Fortune 1000 list with $3.4 billion in revenues.  Local Agents– Country Financial employs the local agent business model which many people still prefer.  Variety of Products– True to their roots, Country Financial still offers farm and crop insurance in addition to the traditional; auto, home, renter’s, commercial, disability, life and commercial insurance. Rating– Country Life Insurance Company has an A+ (Superior) financial rating from the preeminent rating agency A.M. Best. Cons: Their life insurance rates are not the cheapest compared to what is available on the open market. (See the Price Comparison Table Below) Bottom Line: Country Financial is a highly rated...

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American Family Life Insurance Review 2016

American Family Life Insurance Review 2016 Pros: Discounts– American Family Insurance offers a five percent discount on their auto insurance rates if you or a member of your household has both an auto and life insurance policy with them. Variety of Life Insurance Products– American Family Insurance offers a wide range of life insurance policy options including: no medical exam life insurance, term life insurance, universal and whole life insurance.  Local Agents– American Family Life Insurance still uses a local agent business model.  Many consumers still prefer to conduct business with someone face to face with a brick and mortar office in their community. Size– American Family Insurance is a Fortune 500 company (#373 in 2014) with revenues in...

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National Western Life Insurance Review

National Western Life Insurance Review Pros: Stock Price– National Western Life Insurance Company is financially strong with an A (Excellent) rating from A.M. Best and a current stock price (as of this writing) is $247.83 a share. Advanced Product Offerings– NWL offers a diverse selection of life insurance interest sensitive life insurance products and annuity contracts for asset accumulation and retirement needs. Cons: Their term life insurance rates are not the most competitive available.  (See table below) Bottom Line: National Western Life Insurance Company has been around since 1956 and is a financially strong insurer that has an A (Excellent) rating from the preeminent rating agency A.M. Best.  National Western Life caters more to wealthy individuals as many of...

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Illinois Mutual Life Insurance Review

Illinois Mutual Life Insurance Review Pros: Longevity– Illinois Mutual was founded in 1910 giving customers peace of mind IMLIC will be around to meet future obligations.  Top Seller List– Illinois Mutual is ranked 127 on the Top 200 Life Writers in America.  Family Operated Business– Illinois Mutual Life Insurance Company is a fifth generation family run mutual company that prides itself on top notch customer service. Cons: Illinois Mutual Life Insurance Company prices are not the cheapest available.  Also, their B++ (Stable) financial rating from A.M. Best is a little lower than the A (Excellent) to A++ (Superior) range that we normally like to see from a top life insurer. Bottom Line: Illinois Mutual Life Insurance Company is a...

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Pan-American Life Insurance Company Review

Pan-American Life Insurance Company Review Pros: History– Pan-American Life has been in business for over 100 years demonstrating a track record of stability.  Strong Latin America Presence– Pan-American is one of the leading underwriters in Latin America and the Caribbean.  Hispanic Community– Pan-American Life is ranked number eleven on HispanicBusiness 100 list of the largest Hispanic businesses in the United States. Cons: Their term life insurance rates are not the least expensive available (see the price comparison table below). Bottom Line: Pan-American Life is a strong insurance company as it has been around for over one hundred years with an A (Excellent) financial rating by A.M. Best in 2014.  While Pan-American Life Insurance Company may not be a household...

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EMC National Life Company Review

EMC National Life Company Review Pros: Plethora of Life Insurance Products– EMC National Life Company (EMCNL) offers a very wide range of life insurance solutions to fit nearly any need.  Record High Capital Surplus– EMC National Life ended 2013 with a company record high in capital and surplus with $93.60 million in reserve. Cons: There aren’t too many cons with EMC National Life.  Although, they’re competitive on pricing they typically will not have the absolute lowest rate in the country on their term products.  Also, the company is relatively new, formed in 2003, in comparison to other top insurers. Bottom Line: EMC National Life Company, and affiliate of EMC Insurance Companies (EMC), is a solid insurance company with competitive...

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Life Insurance Comdex Rankings 2014-Insurers 250 to 500

Life Insurance Comdex Rankings 2014-Insurers 250 to 500 This list of Life Insurance Comdex Rankings 2014-Insurers 250 to 500 is a continuation of Life Insurance Comdex Rankings-Top 250 Rated Companies in 2014 post.  Many of the life insurance companies on this list, unlike the previous list, do not have a Comdex ranking; meaning they have only received one or have not received a rating from one of the four main rating agencies. Why Are Financial Ratings Important? Financial ratings provide an independent third-party evaluation to help determine the ability of the life insurer to live up to its financial responsibilities to the policyholder.  What is the point of paying for life insurance if they may not be around to payout...

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Ameritas Life Insurance Review

Ameritas Life Insurance Review Pros: Variety of Products– Ameritas offers a wide range of products and services including: life insurance (term, universal, variable universal and whole), annuities, individual disability income insurance, group dental, vision and hearing care insurance, retirement plans, investments, mutual funds, asset management and public finance.  Tradition– Ameritas Life Insurance Company was established in 1887 as Old Line Bankers Life Insurance Company.  BBB Rating– Ameritas Life Insurance Corp was accredited by the Better Business Bureau in 1948 and has an A+ rating. Cons: There aren’t too many cons this company.  One this we found is that their term rates are typically not the cheapest available. Bottom Line:  Ameritas Life Insurance Corp (a member of the UNIFI Mutual...

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Symetra Life Insurance Company Review

Symetra Life Insurance Company Review Pros: Size– Symetra has over $29 billion in assets and is a top 40 U.S. life insurance company (based on admitted assets). Financial Performance– Symetra Life Insurance Company was named to “Ward’s 50” as a top performing insurance company for 2013, based on financial performance.  Life insurance with prostate cancer– Symetra Life Insurance Company offers a policy through LifeAgain called BlueMetric Select for men with prostate cancer. Cons:  Symetra Life Insurance Company’s underwriting guidelines are strict for applicants with a parent or sibling with a family history of heart disease or coronary disease before age 60. Bottom Line: Symetra Life Insurance Company (formerly known as Safeco Life Insurance Company) is an excellent life insurance...

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North American Company Life Insurance Review

North American Company Life Insurance Review Pros: Ratings– North American Company is A+ (Superior) rated by A.M. Best for financial strength and has a 92 out of 100 Comdex score.  Long History– North American was founded in 1886 and has successfully protected families for over 125 years.  Universal Life- Their universal life insurance products typically have some of the cheapest rates in the country (along with their sister company Midland National). Cons: Their term rates are typically not typically absolute cheapest like their universal products are. Bottom Line: North American Company (a member of Sammons Financial Group-a top 25 life company in America by market share) is a highly rated and very financially secure life insurance company that has...

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Columbus Life Insurance Company Review

Columbus Life Insurance Company Review Pros: Financial Strength- Columbus Life Insurance Company has an A+ (A.M. Best) financial rating and a 96 out of 100 Comdex ranking, meaning their ability to payout future claims is superior.  History- Columbus Life Insurance Company was founded in 1906 with a long history of protecting families.  BBB Rating- Columbus Life is accredited by the Better Business Bureau (BBB) and has an A+ rating. Cons:  Not too many cons with this company. Bottom Line: Columbus Life Insurance Company, a member of Western & Southern Financial Group, is a highly rated life insurance company with a long, stable history dating back to over 100 years.  They offer very competitive rates in certain areas with fair...

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Liberty Mutual Life Insurance Review

Liberty Mutual Life Insurance Review Pros: Size- Liberty Mutual Insurance is the third largest property and casualty insurer in America and ranks at number 81 on the Fortune 500 list of the largest corporations in America.  Convenience- Many people prefer to have all of their insurance coverage’s with one company and Liberty Mutual makes it possible with their extensive insurance product line.  Local Agents- Liberty Mutual has agents based in the community which many people prefer. Cons: Liberty Mutual’s life insurance rates are expensive compared to what is available on the market. Bottom Line: Liberty Mutual is a top three auto and home insurer in America.  They have great brand recognition and are a financially stable insurance company.  However,...

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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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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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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 2017

TIAA-CREF Life Insurance Review 2017 Pros: Financial Rating– TIAA-CREF Life Insurance Company received the highest financial rating in 2017 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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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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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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