Insurance – The Best Life Insurance Companies for 2020

Have you been thinking of the best life insurance companies to work with in this new year? If yes, then this post is for you.

At Millitime®, we pride ourselves in connecting people with the life insurance company that best meets their specific needs.

With more than 800 insurance companies in the United States, you could spend months comparing quotes and analyzing ratings without ever knowing for sure that you’d chosen the right company.

Although the best life insurance company and policy will vary from person to person, we have poured through many of the details for you and have decided on a list of clear winners.

These life insurance companies, while diverse in their offerings and history, offer some of the most affordable, helpful coverage and have the best life insurance products on the market. They are also highly rated by the major credit rating agencies.


To help you find coverage that fits, we’ll show you our take on the overall best life insurance companies in the United States based on extensive research and then which life insurance companies excel in the kind of coverage that may be best suited for your individual situation.

TOP 7 BEST LIFE INSURANCE COMPANIES FOR 2020

These 7 life insurance companies consistently offer the best products, customer service, and exhibit financial strength and stability.


COMPANYBEST FORJ.D. POWER SCOREA.M. BEST RATING
Haven LifeQuick Coverage751A++
MetLifeVariety of Policies744A+
AIGCompany Size722A
Banner LifeRange of CoverageN/AA+
PrudentialChewing Tobacco Users754A+
Mutual of OmahaClaims Paid795A+
New York LifeBreadth of Coverage770A++

Haven Life

Haven Life has upended the traditional process of acquiring term life insurance by getting rid of the medical exam for people who qualify.

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Haven Life offers only term life insurance, which is usually the simplest and most affordable type of coverage, especially if you’re young and in good health.

Even if you do need a medical exam, Haven Life’s process is quick and easy to navigate.

If you are looking to get term life insurance with the least hassle and faster than any other company can offer, then Haven Life is going to be your top company.

 

MetLife

MetLife, another well-known provider in the United States and globally, offers policy options including term, whole life, universal, variable, and survivor ship plans.

MetLife also offers a simplified issue term life insurance which does not require applicants to get a medical exam. This can be a good option for those who have health-related issues that might make a medically underwritten policy too expensive or impossible to buy.

MetLife has earned the following financial ratings:

  • A+ – A.M. Best
  • AA- – Fitch
  • Aa3 – Moody’s
  • AA- – Standard & Poor’s

 

AIG

AIG is often considered the world’s largest insurance organization with more than 49,000 employees and clients in over 80 countries and jurisdictions. But does the company’s quality match its size? Generally speaking, the answer is yes, according to all four ratings agencies.

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AIG Life and Retirement, the division responsible for the company’s life insurance policies, has earned:

  • A – A.M. Best
  • A+ – Fitch
  • A2 – Moody’s
  • A+ – Standard & Poor’s

We’ve also noticed that AIG is great at placing applicants who are on the border of two different rating classes, because of their weight, into the more favorable class.

For example, a 37-year-old male who weighed 215 pounds and is six feet tall rated a preferred policy with Banner Life, but AIG rated him preferred plus, saving him $3,312 over the life of the policy.

 

Banner Life Insurance is a leader in life insurance product diversity and customer service. The company has been operating since 1949, and it currently holds about $685 billion in premiums.

Banner Life has both flexible and comprehensive coverage options, like special rates for younger or health conscious individuals. In addition, people up to age 95 can apply for a Banner Life term policy. This is nearly unheard of in the insurance industry (most other insurers cap applicants at age 65 or 75).

Banner Life has earned high ratings:

  • A+ – A.M. Best
  • AA- – Fitch
  • AA- – Standard & Poor’s

The company also has earned an A+ rating from the Better Business Bureau.

Bottom Line: No matter your health situation, or age, we’d suggest a Banner Life Insurance quote.

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Prudential

Another long-standing, top life insurance company is Prudential, which manages more than $1 trillion in assets for clients throughout the world.

Prudential offers a number of different policy options, including term and permanent coverage. Permanent coverage from Prudential includes universal, indexed universal, variable universal, and survivor-ship universal life insurance.

The 144-year-old company has earned high ratings, including:

  • A+ – A.M. Best
  • A+ – Fitch
  • A1 – Moody’s
  • AA- – Standard & Poor’s

We’ve noticed that applicants who use chewing tobacco often prefer Prudential because the company does not place chewing tobacco users into its classification for smokers, and this can save a huge amount of money.

 

Mutual of Omaha

Mutual of Omaha has been serving customers in the life insurance arena for more than a century. It provides a wide variety of products including term, whole life, universal life, and accidental death.

The company provides easy-to-follow online steps to help customers determine how much coverage they may need. The site also offers calculators to help determine how long life insurance proceeds may last.

New York Life Insurance Company

New York Life Insurance Company opened more than 170 years ago, and the insurer has more than $425 billion in managed assets. It serves policyholders in both the United States and around the world.

New York Life offers term, whole life, universal life and variable life, and the company is a financial stalwart.

 

 

 

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About the Author

Imaeruaka Joseph .N

Imaeruaka Joseph .N

I believe in sharing wisdom with others. Utilizing life to its maximum and blogging is a call for me . Who is Imaeruaka Joseph? Imaeruaka Joseph also known as Inbuilt-Wisdom JIN, is an indigen of Amesi town, in Aguata local government area, Anambra state. Skills? 1. Copy writer (specialty; sales copy) Currently works with Sky blazer ventures, Niger standard industry ltd, Azodo fish farm. 2. Content creator (short stories, articles, memes and poems) Currently works with Andora Novella, Tis foundation and Medium. 3. Author at Amazon (kindle direct publish) Imaeruaka Joseph up to date has six books published on Amazon. -Marriage forum -Wisdom from its inbuilt -The Compile -Did i have sex? - a memoir -Maintenance of some basic electrical components -The poem stream. Reach out to me via email, [email protected]

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