November, 23 2017

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Life insurance reviews, news and prices from the top companies

Protective Life Vs. Prudential Vs. AIG Vs. Mutual of Omaha Vs. Allstate Vs. State Farm Vs. Farmers Vs. Primerica

Protective Life Vs. Prudential Vs. AIG Vs. Mutual of Omaha Vs. Allstate Vs. State Farm Vs. Farmers Vs. Primerica

Protective Life Vs. Prudential Vs. AIG Vs. Mutual of Omaha Vs. Allstate Vs. State Farm Vs. Farmers Vs. Primerica

Are you in the market for life insurance? Are you looking for the best rate? Well good news, you have come to the right place. There are over eight hundred life insurance companies out there to choose from and selecting the right one can be a daunting task. You may be looking at the top life insurance companies in the country such as; AIG, Prudential, Mutual of Omaha, Allstate, State Farm, Primerica and Protective Life.  I can tell you the best way to choose a life insurance company for term life insurance is based on price.  Why you may ask?  The reason is term life insurance is the same no matter which company you choose.  The truth is life insurance covers any type of death, natural causes and accidents. Your fault or not. The bottom line is that term life insurance will cover any type of death (except the two points below).

 

Term Life Insurance Exclusions

There are two exclusions with life insurance.

  1. Suicide

Term life insurance policies have a two year suicide clause, meaning if you commit suicide in the first two years of the policy date the full benefit will not be paid out.

2. Contestability

Term life insurance is contestable in the first two years if you are fraudulent on the application. This means if you were to lie or did answer a question truthfully on the application and you were to pass away in the first two years of the policy the life insurance company could contest it.

 

Who is the Best Term Life Insurance Company?

So if all life insurance policies payout which one should you choose? The answer is the one that will offer the lowest rate for your health and lifestyle.  Every life insurance company has different underwriting guidelines so it’s imperative to select the company with the best rate for you specific situation; i.e. height, weight, medications, health history, family history, driving record, travel, etc.

The truth is every life insurance company has certain niches, meaning the company offering the best rate for one person often will not have the best rate for another person.  Let me show you what I mean below.

 

Protective Life Insurance Company

Protective Life Insurance Company may not be a household name such as MetLife, Prudential, Allstate, Liberty Mutual and AIG but they are actually one of the largest and highest rated life insurance companies in the country.  They have been in business for over 100 years and have an A+ Superior financial rating from the preeminent rating agency A.M. Best. Protective Life not only will often have the absolute lowest rates in the country for life insurance, term and universal life, but they have a unique benefit that makes them a favorite for many life insurance insiders.  Protective offers what is called a Term Universal Life, term UL.  This means for the term length the payment and coverage stay the same but the difference compared to a traditional term is that the payment will stay the same and the coverage amount will decrease.  This is typically much better than a traditional term life policy since where the rate increasing dramatically and most people will have to let the policy go and get a new one. The Protective policy is often better since the need and amount of life insurance isn’t as great when the term is over, i.e. the kids are grown, house paid off, retired, etc. so the reduced coverage amount with the same payment is ideal compared to the dramatic increase on a traditional policy. Also, you can cancel the policy at anytime either when the term is over or before without any penalty.  It’s easy to see why many agents and their family go with Protective Life.

Benefits- Low Rates, A+ Superior Rating (Highest Category), Term UL Option At the End of the Term, Stable- Having Been in Business Over 100 Years

 

Prudential Life Insurance

Prudential is one the best life insurance companies in America without question.  They are the second largest life insurance company in the United States and they have some of the best underwriting guidelines as well.  Prudential is unique in that they are their own reinsurance company so they can have own underwriting guidelines. This allows them to offer the best rate in the country (often half of what the other companies can 0ffer) in certain areas.  Prudential will often have the lowest rates in the country for those who dip/chew, use cigars on a daily basis, use e-cigarettes, use marijuana and medical marijuana, those over the age of 60 with elevated height and weight (best in the country), cholesterol, heart issues, depression and anxiety medication (allow two for best rate class) sleep apnea, Tramadol and pain medication. Prudential also offers a Preferred rate if a parent died of heart disease prior to age 60.  Prudential is one of the best life insurance companies in America, bar-none.

Benefits- Low Rates, A+ Superior Rating (Highest Category), Best Rates for; Two Depression/Anxiety/Sleep Medication, Non-Tobacco Rates for Dip, Chew, Snuff, E-Cigs, Sleep Apnea, Medical Marijuana, Diabetes

 

AIG

AIG which stands for American International Group is one of the largest life insurance companies in America and the world. Their domestic life insurance company is known as American General. AIG often has some of the best term life insurance rates available. They are an A Excellent rated company and have been in business for over 150 years.  AIG has great underwriting for; healthy people, those with sleep apnea are still eligible for the best health class as well as people taking a depression or anxiety medication can still qualify for the best rate class.  American General (AIG) also have some of the best guidelines for driving records, offering lenient guidelines for multiple traffic violations. AIG also has other niches which make them a top life insurance company in America.

Benefits- Low Rates,  Have Been in Business Since 1850, Top Underwriting for- Sleep Apnea, Depression/Anxiety Medication, Driving History

 

Mutual of Omaha

Mutual of Omaha or United of Omaha Life Insurance Company is one of the largest life insurance companies in America. They were founded in 1909 and have an A+ Superior financial rating from A.M. Best. Mutual of Omaha is the go to company for healthy people and those in certain underwriting categories. Mutual of Omaha has great underwriting for those taking a blood pressure medication allowing those ages 18-55 an average reading of 135/85 and those over 56 years old a reading of 140/85 to be eligible for the best rate health class, preferred plus. United of Omaha also allows a total cholesterol of 300 or less to remain eligible for the highest rate class, preferred plus.

Benefits- Low Rates, History, A+ Financial Rating, Blood Pressure and Cholesterol Underwriting

 

Allstate Life Insurance

Allstate is one of the most well-known insurance companies in America. In fact, they are the third largest auto insurance company in the nation (according to the Insurance Information Institute). Allstate Life Insurance has the best rating category, Superior by A.M. Best (A+) and has been in business since 1931.  How are their life insurance rates? Well, most times they are not the most competitive with some of the other top life insurance companies in the country. This is not uncommon with the top auto and home life insurance companies in the country. Of course every situation is different, so we recommend that you compare rates from the leading twelve companies and choose the best policy.

Benefits- A+ Financial Rating, Convenient Company to Couple With Auto & Home Insurance, Local Offices

 

State Farm Life Insurance

State Farm is one of the most well-know insurance companies in America today.  This is for good reason, State Farm is the largest auto insurance company in the United States and have  the highest financial rating available in the country, A++ which is extremely impressive. State Farm often will not have the best life insurance rates or underwriting guidelines when compared to some of the other top life insurance companies earlier on our list.  However, we suggest that you receive quotes from all the top companies and choose the ones that comes back at lowest rate.

Benefits- A++ Financial Rating, Largest Auto Insurance Company in the United States, Convenient Company to Couple With Auto & Home Insurance, Local Offices

 

Farmers Life Insurance

Farmers is the fifth most popular auto life insurance insurance company in the United States. Similar to State Farm, Farmers has a large advertising presence on TV. Similar to the other leading auto and home insurance companies in the country, Allstate or State Farm, and Farmers often will not have the best life insurance rates comparing to the companies that specialize in life insurance.  Often the rates and underwriting guidelines in comparison will be more favorable with other top life insurers.

Benefits- Well-Known- Fifth Most Popular Auto Life Insurance Company. Convenient Company to Couple With Auto & Home Insurance, Local Offices

 

Primerica

Primerica (Prime America) is one the largest term life insurance companies in America. Primerica was founded by Art Williams in 1977 and has an A+ Superior financial rating by A.M. Best.  Unlike the other companies listed, Primerica’s business model is a multi-level marking model. Primerica’s term life insurance rates and underwriting guidelines are often not as competitive as the other top life insurance companies in America. Primerica does have a great reputation for paying out claims quickly as do the other top companies.

Benefits- A+ Superior Rated Company by A.M. Best

 

Life Insurance Company Comparisons

In comparing many of the leading life insurance companies today whether it’s; Protective Life Insurance Company, Prudential (Pruco Life Insurance), AIG (American General), Mutual of Omaha (United of Omaha), Allstate, Farmers (Farmers New World Life Insurance Company), or Primerica it’s important to compare rates and underwriting guidelines to ensure that you choosing the best life insurance to protect your family not only in price but in financial stability.  With so many life insurance companies to choose from in America today, it’s imperative to shop around and choose the life insurance company that will offer the best rate for your specific situation. This can mean that you are in perfect health or are taking prescription medications. In fact, many companies will not offer the best health class if you are taking a blood pressure medication while there are many top companies that will. Also, the same goes for other common health conditions such as anxiety/depression, sleep apnea, sleep medication, build, family history and many other conditions.