November, 23 2017

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Life insurance reviews, news and prices from the top companies

3 Best Life Insurance Companies for Diabetics 2017

The 3 best life insurance companies for diabetics 2017 offer the best prices, favorable underwriting and are highly rated by A.M. Best. These companies view the risk of insuring a diabetic more favorably than the other life insurance companies in way of offering a better health class and in turn a lower rate. Diabetic underwriting for life insurance has come a long way, especially in the last 10 years. In the past, a well-controlled diabetic was given at best a sub-standard rate but today diabetics can receive a better than average health class which means a much lower premium.  What Factors Do Life Insurance Companies Look For With Diabetes? Hemoglobin A1c– The first thing life insurance companies look for...

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Largest Life Insurance Companies 2016

The largest life insurance companies 2016 have more assets than the other insurance 900 + life insurance companies in America.  There are a few different ways to rank the largest life insurance companies in addition to assets.  Other ways include; total written premium, market capitalization, term sales, universal life sales, whole life sales and annuity sales.  Some of the best life insurance companies in America that didn’t make this but are still some of the largest writers of life insurance include Protective Life, Banner Life, SBLI and Mutual of Omaha.   MetLife-Assets $608 billion- Financial Rating A+ Prudential- $551 billion-Financial Rating A+ John Hancock– (Manulife) $272 billion- Financial Rating A+ TIAA-CREF– $272 billion- Financial Rating A+ AIG– $270 billion-...

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GGT and Life Insurance- What You Need to Know

Has GGT Affected Your Life Insurance Application? A common reason for rate increases and declines in life insurance is due to the GGT liver function test.  Most people have never even heard of GGT before.  This is why it’s comes as such a surprise to many when they are notified of elevated levels from their life insurance exam. What is GGT? GGT stands for Gamma-glutamyltransferase, which is an enzyme that is present in many areas of the body including the kidneys, pancreatic cells and most notably the liver.  Elevations in the GGT blood test can indicate liver problems or other potential health issues. The GGT test is currently the most sensitive indicator of liver damage and disease. What Causes...

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Life Insurance: $1,000,000 vs $500,000 vs $250,000 vs $100,000

Most people want the right amount of life insurance to protect their family but don’t know how much it will cost. Fortunately, life insurance companies offer price band discounts at certain policy amounts. These price brands offer a cost-per-thousand price reduction over other policy amounts. The price bands on life insurance in 2016 are at the following policy amounts: $1,000,000, $500,000, $250,000 and $100,000. While the right amount of life insurance one should carry will be different for each person, these price band numbers above are a good place start. How much does a $1,000,000 (million dollar) life insurance policy cost 2016? Company Name Annual Monthly    A.M. Best Ratings as of   2016 United of Omaha Life Insurance Company...

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The Best Life Insurance Companies for Sleep Apnea

This article will list the best life insurance companies for sleep apnea in 2016, whether you are compliant and using the CPAP nightly or non-compliant and only using the CPAP machine a few nights a month, or not using it at all. To begin, sleep apnea is a big rating factor when it comes to life insurance. The reason why is that if left untreated, sleep apnea can lead to many health issues such as high blood pressure, heart failure, heart attack, stroke, type II diabetes, weight gain, asthma, and even auto accidents from drowsiness. A study published a few years ago showed that those with severe sleep apnea left untreated were three times more likely to have premature...

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New York Life Insurance Review 2017

New York Life Insurance Review 2017 Pros:  Financial Strength– New York Life (NY Life Insurance) has the best financial rating in the country in 2017 with A++ Superior rating by A.M. Best (highest of 16 possible ratings) and a perfect 100 Comdex score (average rating from the 4 major rating agencies). There are only a few other life insurance companies in America that have a perfect financial rating (Northwestern Mutual, Knights of Columbus and Berkshire Hathaway).  New York Life has been financially strong throughout it’s history as evident they accept need bail out money during the financial crisis in 2008-2009.  History and Size– New York Life is one of the largest mutual life insurance companies in the country and...

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Best Life Insurance Companies 2016

The best life insurance companies 2016 offer the lowest rates, are highly rated and have the most favorable consumer underwriting guidelines for 2016. The companies that made are list have been carefully monitored, researched and most importantly; are tried-and-true as they are the ones we trust to place our clients with.  Some of the companies are household names and the others are not as well known but are best life insurance companies in America. When looking for the right life insurance company to protect your family you want to look at price, underwriting, company history and their financial rating.  The companies on our list check all of those boxes.   Best Life Insurance Companies 2016   Prudential Life Insurance...

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AARP Life Insurance Review 2016

AARP Life Insurance Review 2016 The Good: AARP’s life insurance program which is underwritten by New York Life Insurance Company, has an easy application process- only 3 health questions and no physical exam.  New York Life has an A++ A.M. Best Superior financial rating (the highest available out of 16 categories).  AARP and New York Life are very well-known trusted companies in America in 2016. The Bad:  Rates can be expensive for many applicants.  Also, the premiums increase every 5 years on their term policy and coverage ends at age 80.  In addition, as with many guarantee issue policies from various companies- many people have posted complaints online about being unaware that the guaranteed acceptance life insurance has a...

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State Farm Life Insurance Review 2016

State Farm Life Insurance Review 2016 The Pros:  Financial Strength– State Farm has the highest financial rating available in 2016; A++ (Superior) from A.M. Best.  Size– State Farm is one of the largest life insurance companies in America.  Brand Recognition– With a significant adverting presence, State Farm is a household name when it comes to insurance.  Local Agents– State Farm has local offices that you can stop into to see your agent if you have any questions. The Cons:  State Farm’s life insurance rates are typically more expensive compared to the rest of the market (see rates below).  Also, their underwriting can be more strict than many other top companies which can increase premiums or lead to a decline....

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Thrivent Financial Life Insurance Review 2017

Thrivent Financial Life Insurance Review 2017 Pros: Financial Strength & Ratings– Thrivent Financial has the highest financial rating available from the leading rating agency A.M. Best with an A++ (Superior) grade and possess a 99 out of 100 Comdex score in 2017.  Awards– Thrivent Financial for Lutherans was an honoree for The World’s Most Ethical Companies designation in 2017.  Size– Thrivent Financial is a fortune 500 company (#318) and is the largest fraternal benefit society in America with over two and a half million members. Assets– More than $116 billion. Volunteering– The organization contributed nearly $203 million and its members volunteered more than 9.3 million volunteer hours in 2015. Cons: Not too many cons with this company. Bottom Line:...

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Farmers Life Insurance Review 2016

Farmers Life Insurance Review 2016 Pros:  Local agents- Farmers uses a brick and mortar business model with local agents- which many people prefer.  Well-known- Farmers is very well known thanks to their popular television commercials.  Website- Farmers website is very user friendly and provides instant rate quotes. Cons: Price- Farmers prices are often higher compared to other insurers we reviewed.  (See table below) Bottom Line: Farmers Insurance is a household name and a top 5 auto and home insurer in America.  While their property and casualty is highly ranked, their life insurance (issued by New World Life Insurance Company) rates are higher than many of the other top companies we reviewed in 2016.  Farmers does have local agents, good...

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MassMutual Life Insurance Review 2017

MassMutual Life Insurance Review 2017 Pros:  Financial Strength– MassMutual (Mass Mutual) has the highest financial rating available in 2017 from A.M. Best with an A++ (Superior) rating. Size and Stability– MassMutual is one of the largest life insurance companies in America and have been in business for more than 160 years.  They also have consistently paid dividends to their whole life policy holders since the 1860s. Mutual Company– As the name implies, Mass Mutual is a mutual company meaning it’s owned by the policy holders. Cons:  Price– MassMutual Life Insurance is expensive for term life insurance compared to the other top life insurance companies in America (see price comparisons below).  Underwriting– Since MassMutual is a mutual company their underwriting...

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Life Insurance: MetLife vs Allstate vs State Farm vs Mutual of Omaha

Life Insurance: MetLife vs Allstate vs State Farm vs Mutual of Omaha   Today, let’s take a look at four very popular insurance companies; MetLife, Allstate, State Farm and Mutual of Omaha and compare which is the best for life insurance. Of course “best” is subjective because it’s hard to quantify the value of having a local agent that has a brick and mortar office in your neighborhood and one that you may have a close personal relationship with but we here we will compare important information such as; financial ratings, prices and length of time in business.   Rate Comparison   ($500k 20 year term) Mutual of Omaha     MetLife      State Farm     Allstate $29.97              ...

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New York Life vs. MetLife vs. Prudential vs. AIG

New York Life vs. MetLife vs. Prudential vs. AIG           In this article I wanted to compare side-by-side some of the top life insurance companies in America today. Many shoppers in the market for life insurance seek the rates from these four companies in particular; New York, MetLife, Prudential and AIG. This is because the aforementioned companies are some of the most well-known in the United States and have been in business for over 125 years. So which company is best? How are they rated? How do their rates compare? Which one should you choose? Let’s take a closer look.   Financial Rating by A.M. Best New York Life              MetLife         Prudential                  AIG A++               ...

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Prudential Life Insurance Rating 2016

Are you looking for the up to date Prudential Life Insurance Rating 2016? Then you came to the right place. First, a quick overview on life insurance ratings. There are four major rating agencies used to evaluate the financial strength of life insurance companies. Those four are; A.M. Best, Standard & Poor’s, Moody’s Investors Services and Fitch. The foremost authority and the main rating agency many insiders and agents use is A.M. Best. As a general rule, as long as an insurer is graded with an (A-) or better from A.M. Best then that company is financially sound and you shouldn’t have to worry about as far as the company being able to payout any future claims. What are...

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MetLife Life Insurance Ratings 2016

MetLife Life Insurance Ratings 2016   There are many different rating agencies in America that assess life insurance companies. The foremost authority in rating agencies is A.M. Best. This is the primary rating you should use in looking how strong the insurer is financially. There are three other “main” rating agencies which I will list below along with MetLife’s life insurance rating.   A.M. Best MetLife Life Insurance Rating 2016 A.M. Best: A+   A.M. Best Ratings Scale Secure Vulnerable A++, A+ (Superior) B, B- (Fair) A, A- (Excellent) C++, C+ (Marginal) B++, B+ (Good) C, C- (Weak)   D (Poor)   E (Under Regulatory Supervision)   F (In Liquidation)   S (Suspended)   Fitch MetLife Life Insurance Rating...

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ReliaStar Life Insurance Company of New York Review

ReliaStar Life Insurance Company of New York Review (aka Voya Financial Life Insurance New York)   Pros: Rating– ReliaStar Life Insurance of New York (a subsidiary of Voya Financial, formerly known as ING) has an A (Excellent) rating from the preeminent rating agency A.M. Best. History– ReliaStar Life Insurance has been in business since 1885 and the New York office since 1917. $200,000 Price Break– ReliaStar offers price banding discount at the $200,000 face amount, often making them the lowest priced company in the country for those looking for a $200k life policy. Underwriting– ReliaStar offers very favorable underwriting for seniors over the age of 60. Also, ReliaStar will does not hold any family history of cancer against you...

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William Penn Life Insurance Company Review

William Penn Life Insurance Company Review   Pros: Rates– William Penn will typically be in the top 5 lowest priced life insurers in the state of New York, especially for healthy people and those with diabetes or significant health conditions. Table Rates (Substandard)-William Penn uses a standard plus table rate, meaning those in below average health or those that are above normal on the build chart can qualify for lower rates. Rating– William Penn has an A+ (Superior) A.M. Best financial rating and an 94 out of 100 Comdex score making them a top insurer just like their sister company Banner Life. History– William Penn is a subsidiary of Legal & General which has been in business since the...

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US Life Insurance Company Review

US Life Insurance Company Review (Also known as US Life and The United States Life Insurance Company of New York) Pros: Rates and Underwriting– US Life will typically offer some the lowest prices on life insurance in the state of New York. Similar to William Penn, US Life offers favorable rates and underwriting especially for diabetics.  Stability– The United States Life Insurance Company (US Life) is a part of AIG- (American General) which has been in business since 1850. Cons: There aren’t too many cons with US Life. Just make sure you compare rates to ensure you are receiving the best rate. Bottom Line: The United States Life Insurance Company of New York is AIG-American General’s life insurance company...

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Life Insurance Company Ratings 2015

When choosing a life insurance company, one of the first things you need look at is an insurers A.M. Best rating.  Although it just takes a second to do, it’s vitally important to ensure that you’re choosing a life insurance company that will be able to payout any future claims.  A.M. Best is the gold standard in evaluating life insurance companies.  A general rule of thumb when choosing an insurance company is to make sure the insurer has received an A.M. Best rating of A- (Excellent) or better.   2015 A.M. Best Rating Categories   A++, A+ (Superior)– Assigned to companies that have a superior ability to meet ongoing insurance obligations. (per the opinion of A.M. Best)   A, A-...

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Best Life Insurance Companies 2015

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...

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CMFG Life Insurance Company Reviews

CMFG Life Insurance Company Reviews Pros: History– CMFG Life Insurance, also known as CUNA Mutual (Credit Union National Association) had been serving credit unions since 1935.  No Physical Exam– With CMFG, Life insurance coverage amounts under $200k typically won’t require a physical exam. Cons: There aren’t too many cons with CMFG Life Insurance Company. Bottom Line: CMFG Life Insurance Company, formally known as CUNA Mutual Insurance after a company reorganization, is a dominant insurer in the niche of serving credit union members.  In 2012, the company launched the TruStage insurance program to better market specifically to credit unions.  In reviewing their rates, CMFG Life Insurance Company does have competitive pricing but won’t have the absolute lowest premium available on...

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Trustage Life Insurance Review

Trustage Life Insurance Review Pros: Size– The number of credit union members served by the TruStage insurance program totals over 15 million which includes; life insurance, accidental death and dismemberment (AD&D) auto insurance and homeowners insurance as well as other insurance products.  Awards– TruStage’s apparent company, CUNA Mutual Group was nominated as one of the worlds most ethical companies by the Ethisphere Institute.   No Medical Exam– For life insurance policies under $200,000 a medical exam typically isn’t required.  History– TruStage’s apparent company, CUNA Mutual, has been serving credit unions since 1935. Cons: Doesn’t Shop for the Lowest Rates– Trustage which is part of CUNA Mutual, only offers rates from their apparent company- CMFG Life Insurance Company.  While TruStage- CMFG...

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Union Plus Life Insurance Review

Union Plus Life Insurance Review Pros: Convenience– The Term-to-70 Insurance product doesn’t require a health exam for coverage amounts under $150,000.  Strike Assistance– Premiums are waived for up to 3 months if the insurered is involved a union-sanctioned strike lasting for 30 days (for eligible states and unions). Cons: Expensive– In most cases, the coverage is more costly than what is available on the open market.  Not locked in– The prices on the Term-to-70 product increase every 5 years. Limited Amount of Coverage– The largest policy available is $250,000 which may not be enough protection. Bottom Line: Life Insurance offered by Union Plus which is underwritten by The Hartford Life and Accident Insurance Company is convenient for coverage amounts...

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Physicians Mutual Life Insurance Review

Physicians Mutual Life Insurance Review 2016 Pros: History– Physicians Mutual Insurance Company was founded in 1902 and in 1970, Physicians Insurance Company was established to offer life insurance.  Claims– Physicians Mutual Insurance Company pays out over $302 million in claims annually while Physicians Life Insurance Company pays out $125 million in claims annually.  Customer Service– Physicians Mutual received a 97% customer stratification score from a 2010 survey conducted by Weise Research Associates. Cons: Pricing– Their rates are not the most competitive with some of the other top life insurers on the market. (See price comparison below) Bottom Line: Physicians Mutual Insurance Company has been around since the turn of the century in 1902.  Physicians Mutual is an A (Excellent)...

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10 Year Vs. 20 Year Term Life Insurance Review

10 Year Vs. 20 Year Term Life Insurance Review Many people looking to purchase term life insurance have trouble deciding between a 10 year vs 20 year term life insurance policy.  While there are pros and cons to both, this article we break down and review the advantages and disadvantages of both to assist you in choosing the best term policy for your needs. What is Term Life Insurance? Before we begin to compare and contrast a 10 year vs. 20 year term life insurance, let’s first explain what term life insurance actually is.  Term life insurance provides life insurance protection for a specified period of time.  The coverage amount and price are fixed for the chosen term.  Term...

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Alfa Life Insurance Review

ALFA Life Insurance Review Pros: Competitive Pricing– We found Alfa Insurance to have competitive life insurance rates, specifically on their 20 and 30 year term policies.  Convenience– Alfa Insurance is a full-service insurance company offering auto, home, farm, business, health, dental, watercraft, flood, umbrella, church and life insurance.  Many people find it much more convenient to have all their insurances with one company.  Stable– Alfa has been around since 1946 and has more than 1 million polices inforce. Website– Alfa’s website provides instant rate quotes and is also; simple, clean and easy to navigate. Cons: Their 10-year term rates were not the most competitive in our research. Bottom Line: Alfa Insurance has been around for over a half a...

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Unum Life Insurance Review

Unum Life Insurance Review Pros: History– Unum has been in business since 1848. Market Leader– Unum has been one the nation’s largest disability and voluntary benefits insurance companies for nearly four decades.  Awards– In 2013, Unum made Forbes list of America’s 100 Most Trustworthy Companies. Cons: Unum doesn’t have the least expensive rates for individual life coverage. (See price comparison below) Bottom Line: Unum is the top disability insurance company and the leading provider of employee benefit solutions in the United States.  In reviewing their individual life insurance rates, underwritten by Provident Life and Accident Insurance Company they were not the least expensive available.  The bottom line as with as with all the companies we review, we recommend that...

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Columbian Life Insurance Company Review

Columbian Life Insurance Company Review Pros: Stability– Columbian Mutual Life Insurance Company was established in 1882, making them a company your family can rely on.  Products– Columbian has a wide selection of life insurance products including their popular final expense policy that allows for a rider of level term insurance on the insured’s children, grandchildren or great grandchildren. Cons: We found their term life insurance rates to be expensive compared to what is available on the open market. (See the price comparison table below) Bottom Line: Columbian Life Insurance Company was founded over 130 years ago in Brooklyn, New York.  This longevity from an insurer is reassuring when purchasing a life insurance policy to protect your family.  Columbian Life...

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Security Mutual Life Insurance Review

Security Mutual Life Insurance Review Pros: History– Security Mutual Life was founded in 1886 proving they are a company your family can depend on in the future.  Dividends– For the past 122 years, Security Mutual Life paid a dividend to its policyholders. Cons: Their term life insurance rates are not the least expensive available. (See Price Comparison Table Below) Bottom Line: Security Mutual Life, which is now Security Mutual Life Insurance Company of New York (after a name change in 1960), is a stable life insurance company headquartered in New York that has been around for the past 128 years. They offer a wide selection of insurance products to help their clients meet their financial goals.  As with all...

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