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Best Life Insurance Companies in US | Best Life Insurance Companies in 2022

  • March 10, 2022
  • 9 min read

Buying a life insurance policy can be a confusing process because their are multiple different types of life insurance policies with and without investment options. You also have to contemplate what life will be like for your loved ones after you’ve passed for that we made the process easier we have compiled a list of the top life insurance companies of 2022.

We also have gathered information to explain the different life insurance, how the whole quote process works, and how to buy an insurance.

Haven

Haven insurance

Haven Life’s online-first approach makes it an excellent term life insurance option where customers can apply for and manage insurance policy online. This Haven Life review details policies, costs, and other common questions to help you to select the best life insurance provider for your needs.

About Haven Life Insurance

Haven Life, founded in 2014 and headquarters are in New York City, is a relatively new addition to the insurance market. Haven Life aims to offer affordable and easy-to-manage term life insurance policies online. Haven Life is a digital insurance agency whose policies are issued by MassMutual or one of their MassMutual’s subsidiaries.

Pros

  • High coverage limits.
  • Medical test may not required.
  • Includes benefits like a digital will and different fitness apps.

Cons

  • No permanent life policy options available.
  • Limited to age 64 and less.

Bestow Life Insurance

Bestow Life Insurance

Buying a life insurance policy could help alleviate anxiety and protect your loved ones because financially should the unexpected happen, but figuring out which policy is best for you going to be tough. Bestow offers term life insurance policies ranging from 10- to 30-year terms.

About Bestow

Based in Dallas, Texas, Bestow was founded in 2016 and provides term life insurance policies to individuals. Bestow serves as the licensed agent and the partners with insurers such as the North American Company for Life and Health Insurance, which issue the policies for Bestow.

Pros

  • Simple online application to fill.
  • Fast quote and approval process online.
  • 30-day trial period Available.
  • No medical exam required.

Cons

  • New policies not available (60+).
  • Doesn’t offer permanent life insurance policies.

Northwestern Mutual

Northwestern Mutual insurance

With dozens of companies offering life insurance policies it can be challenging for indiviuals to determine which one will best ensure your loved ones are taken care of in the future. Northwestern.

About Northwestern Mutual

Northwestern Mutual, headquartered in Milwaukee, was founded in 1857 and has operated for many years in the financial services industry.

Pros

  • Offers term, universal and whole policies.
  • Flexible policy available.
  • Term policies can be converted to whole life policies also.

Cons

  • Contact agent for quote.
  • No online applications available.

New York Life

New York Life insurance

People with business owners, families, and those with extensive portfolios could benefit from having life insurance. New York Life is one provider people can turn for insurance policies.

About New York Life

New York Life was founded over 175 years ago, it means they have been their for such a long time. Today, it operates as a mutual company, has paid dividends to policyholders for 166 consecutive years & headquarters are in New York City.

Pros

  • Offers term, universal policies and whole .
  • Several people are available to customize policies.
  • Some policies build value and pay dividends.

Cons

  • Policies are too expensive
  • Coverage and requirements aren’t fully explained online, so need to connect offline.

John Hancock

John Hancock insurance

Both permanent life and term insurance policies are sold by John Hancock. This John Hancock life insurance review details the life insurance policies available and answers some of common questions about choosing a life insurance plan for yourself.

About John Hancock

Founded in Boston, John Hancock provides a variety of financial services in addition to the company’s life insurance offering.

Pros

  • Universal and Term policies available.
  • Coverage limits up to $65 million.
  • Permanent coverage for children also offered.

Cons

  • No whole life insurance policies are available.
  • High coverage minimum for term policies.

Lincoln Financial

Lincoln Financial policy

Lincoln Financial offers several terms and universal life insurance to help you decide if it’s right for you, we’ve detailed the policy options, costs and other important aspects of their life products.

About Lincoln Financial

Lincoln National Life Insurance Company was founded in Fort Wayne Indiana, in 1905. The company was named after Abraham Lincoln. Today, Lincoln Financial Group offers insurance and financial planning solutions to employers and individuals.

Pros

  • Term and universal policies are available.
  • Medical exams may not required.
  • Term policies can be converted to permanent policies also.

Cons

  • No whole life policies available.
  • Some policies don’t let you apply online, so you need to connect to riders or directly to Lincoln Financial.

State Farm

 State Farm

State Farm also offers a number of life insurance products to customers in various stages of their life. To help you learn more about State Farm’s life insurance coverage here is our comprehensive review answering some of the common consumer questions.

About State Farm

State Farm was founded in 1922 as an auto insurance company but today operates as a mutual company with 85 million policies and accounts in effect. Products include life like insurance, home and renters, insurance, auto and insurance for health, liability and disability. It is based in Bloomington, Illinois.

Pros

  • Received an A++ rating from AM Best Corp
  • Offers term, whole life insurance and universal.

Cons

  • Not available in Rhode Island or Massachusetts.
  • Policies must be purchased through a State Farm agent only

AIG

AIG (American International Group)

With more than a hundred year of experience, AIG protects individuals, families and seniors with permanent life and term life insurance products.

About AIG

American International Group (AIG) entered the insurance market in around 1919. Today, the insurer operates around the globe offering financial services, casualty insurance products and general property, and retirement investment services.

In the U.S. market AIG sells health insurance, travel insurance and personal accident insurance. AIG also offers individual life insurance.

Pros

  • Low-cost term life insurance
  • Solid financial ratings
  • Available in all of the states

Cons

  • No health test required.

Banner Life

Banner Life Insurance

Life insurance offer people security in knowing that their loved ones will be taken care of financially after they are gone. Banner Life is one of the top life insurance companies and agencies in 2022 according to our reports & from people experience who had bought insurance from Banner Life.

About Banner Life

Banner Life is owned by Legal & General America offers two life insurance products 1) Term and universal life. This may appeal to those who want to keep the process of buying life insurance as simple as possible but it means Banner Life may not be the best fit for people seeking customizable life insurance options.

Pros

  • Very Affordable insurance rates.
  • Term life insurance available for older Americans up to age 75
  • Universal life insurance is available for older Americans up to age 85
  • No maximum coverage head

Cons

  • Low coverage amounts for universal life insurance
  • Not many riders and options for customization is available

Nationwide

Nationwide Insurance

When it comes to life insurance you will have to make sure you have a policy in place to assist your loved ones in the event of your death. Nationwide is one of the top-rated life insurance companies according to reports.

About Nationwide

Nationwide was founded in 1925 & it is one of the largest financial services companies in the world. It offers a wide variety of services, including life, auto, homeowners, renters, and pet insurance. The company’s headquarters are in Columbus, Ohio.

Pros

  • Permanent and term life insurance policies both available
  • Wide selection of riders available
  • Moderate rates compared to other companies

Cons

  • Fewer term options than some other carriers

Prudential

Prudential

Purchasing life insurance is a great way to set your family up for success when you will pass away. Prudential Life Insurance offers customers customizable term and universal life insurance to fit their specific live needs.

About Prudential

Prudential Financial is the largest life insurance company in the U.S. based on assets. Prudential was founded in 1875 as the Prudential Friendly Society. Today, Prudential operates in more than 40 countries and offers products for individuals and businesses. The company is headquartered in Newark, New Jersey.

Pros

  • Offers term and universal life insurance
  • Offers several riders for extra protection

Cons

  • No discount available for bundling Prudential insurance products
  • Policyholders do not receive dividends on any life insurance policy

Guardian

Purchasing life insurance may give you peace of mind knowing your loved ones are protected financially even after your death. Guardian Life Insurance Company is one of the Best Life Insurance Companies of 2022 it offers term life, whole life and universal life policies.

About Guardian

This New York City-based mutual company was founded in 1860 and insurance to the individuals. Investment management and retirement planning among other types of individual insurance are available.

Pros

  • Permanent life insurance policies available to ages from18 to 85
  • Offers all three life insurance term, whole and universal life insurance policies
  • Annual dividends for policyholders with whole life insurance available

Cons

  • Cannot apply online
  • Must purchase policy through an agent only

Mutual of Omaha

Mutual of Omaha offers an array of products such as life insurance policies and general insurance policies.

About Mutual of Omaha

Mutual of Omaha started back in 1909 and operates as a mutual company based in Omaha, Nebraska. In addition to life insurance it also offers Medicare supplement insurance, disability income insurance and insurance for long-term care. Mutual of Omaha also offers financial services including mortgages and annuities are also available by Mutual of Omaha.

Pros

  • Offers term, whole, and universal insurance
  • Some term life products issued up to the age 80
  • Universal life policies have accelerated death benefits

Cons:

  • Coverage for whole life policies is limited to certain terms.

Transamerica

Life insurance is essential in caring for your family when you are no longer with them and Transamerica offers a number of products to provide the coverage that you need.

About Transamerica

Transamerica was founded in San Francisco in 1904 as a bank but today Transamerica’s services include retirement services, mutual funds, and annuities in addition to a variety of life insurance policies. Services are available to companies and individuals.

Pros

  • Offers term, whole, and indexed universal life policies
  • Available nationwide
  • Certain products build cash value’s

Cons

  • Must purchase through an agent only.

USAA

Life insurance can help give your family peace of mind when they need it the most. It can be used to replace your income, cover burial expenses, pay off debt or leave a legacy. Most importantly, it can provide security for your family’s financial future.

About USAA

USAA Membership is limited to U.S. military service members, pre-commissioned, veterans officers and their spouses and children. All policies require a medical exam.

Cons

  • limited to U.S. military service
  • All policies require a medical exam
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