April, 30 2017

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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

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                  $39.96      $42.65       $84.04

 

*Prices are for a 39 year old male, DOB 12/15/1975, $500k 20 year term at the Preferred Plus rate class

 

Financial Rating A.M. Best

Mutual of Omaha      MetLife      State Farm     Allstate

A+                             A+               A++        A+

 

Founded

Mutual of Omaha      MetLife      State Farm     Allstate

1909                      1875         1922            1931

 

Life Insurance: MetLife vs Allstate vs State Farm vs Mutual of Omaha -Which is Best?

As you can see above, all four of these companies are very highly rated and are in the (Superior) category by A.M. Best, with State Farm receiving the highest possible – A++ rating. However, the rates for term life insurance from these companies can vary significantly.   As seen above, the rates for a 39 year old male in excellent health, Mutual of Omaha had a price that was $10 a month cheaper then the next least expensive company, MetLife. When you add up the savings over the course of the policy by choosing the right company for you, you can save literally thousands and thousands of dollars for the same exact coverage. Keep in mind that with life insurance your age, health, medications, driving history, family history, etc will play a role in which company will offer the best rate. This is why it’s imperative to shop around and choose the right company when it comes to life insurance. To compare rates for you, please feel free to use our free quote engine to the right.