Life Insurance is the basic requirement of any financial planning. To provide risk cover you need the best life insurance company.
The best life insurance companies have an easy-to-understand application process, solid ratings from third parties, and coverage that you can trust, whether you are looking for inexpensive term life insurance with a generous death benefit, whole life insurance with cash value, or another type of permanent policy.
To help you I have done quick research on the insurance companies that are available today. I made a comparison between coverage options, agency rankings, financial strength, and corporate ratings. Here is the result.
5 Best Life Insurance Companies in the US 2023
American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in approximately 70 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security.
AIG Enjoys “A” financial rating from A.M Best. You can go ahead and purchase an insurance policy from this company. AIG provides Term life insurance, universal life insurance, and guaranteed issue whole life insurance policies.
#2 Legal & General
Legal & General is among the best life insurance companies that offer policies through two other companies they partner with, BannerLife and William Penn. They offer various coverage options including term life insurance policies and universal life. This company has a strong rating for financial strength. It has A+ rating from A.M. Best for its financial strength.
You can get an online quote using this company and buy coverage up to $10 million, which is much higher than many of their competitors.
#3 New York Life
New York Life is another highly rated life insurance company, offering a wide range of products and services to meet the needs of its customers. It is one of the oldest insurance service providers. New York Life currently offers term life insurance, whole life, universal life, and variable life. New York Life also has an A++ rating from A.M. Best for its financial strength, which is the best rating available. New York Life has long company history in the insurance space.
Prudential is a large, international life insurance company that offers a variety of products, including term life insurance, whole life insurance, and universal life insurance. This company also provides variable universal coverage, and survivorship universal life insurance. Prudential has an A+ rating for its financial strength from A.M. Best. Prudential accepts the online application process. This process is backed by instant quotes for term coverage options.
MetLife is a large, international life insurance company that offers a wide range of life insurance products, including term life insurance, whole life insurance, and universal life insurance. The company is also known for its high customer satisfaction ratings. MetLife has an A+ rating with A.M. Best. However, they scored less in customer service. The main focus area of MetLife is the group life insurance plan.
Finding the best life insurance policy for your individual needs requires comparing different life insurance companies and their products. Financial stability, customer satisfaction, policy options, and pricing are all factors to consider when choosing a life insurance company. A financial advisor can assist you in this process.