Top 25 Best Life Insurance Companies in the U.S. (2017)

  • Top 25 Best Life Insurance Companies

Top 25 Best Life Insurance Companies in the U.S. (2017)

Who are the best life insurance companies? What is the best life insurance policy?  These are two of most frequently asked questions when it comes to purchasing life insurance coverage. Life insurance is an important financial purchase. With literally hundreds of life insurance companies out there competing for your business how do you know you’re picking the right one?

It takes experience and knowledge

The best life insurance company will be the one that will offer you the best life insurance coverage based on your health, lifestyle and overall insurance needs. In order to find the perfect life insurance coverage, it often requires working with an experienced and knowledgeable life insurance agent that can help aid in the process.

Top Quote Life Insurance works with several of the most popular and well-respected life insurance companies in the U.S. We are constantly staying up to date with the latest changes to underwriting niches and strengths towards medical issues as well as the many different unique coverage options, policy riders and changes to rates.

What We Look for in a Top Life Insurance Company

When putting together our list of what we consider to be the best life insurance companies to consider when looking for life insurance coverage we took a look at 5 factors

Financial Strength: A.M. Best ratings are an important factor when choosing a life insurance company as it is used to rate a company’s financial strength and ability to pay a claim should or when one arises.  A.M. Best is a letter grading system that consists of six “secured” ratings and ten ratings considered to be “vulnerable”. The top life insurance companies, that have made our list, have an A.M. Best rating of an A or better. A.M. Best Rating Scale:

  • A++ and A+ = Superior
  • A & A- = Excellent
  • B++ and B+ = Good
  • B and B- = Fair
  • C++ and C+ = Marginal
  • C and C- = Weak
  • D = Poor
  • E = Company is under regulatory supervision
  • F = Company is in liquidation
  • S = Rating is suspended

Company History: Along with having high A.M. Best ratings, a top life insurance company should also be one that has a long reputable history within the life insurance marketplace. Our top life insurance companies are not fly by night companies. These companies have been around for a long time, with some dating back to the 1800s with up to a million policyholders.

Coverage Options: In addition to death benefit protection, many top life insurance companies offer additional coverage options through the use of policy riders. Some of these riders include living benefits that will let you get cash from the policy’s death benefit while living should you come down with a terminal, critical or chronic illness. Riders such as accidental death, children’s term insurance, waiver of premium, disability income are all riders that can also be used to strengthen a basic life insurance policy.

Conversion Option: Term life insurance is temporary coverage anywhere from 10 to 30 years. Top life insurance companies will offer their policyholders the option to convert their term policy to permanent coverage if life insurance is still needed beyond the purchased term length. Having a conversion option can be extremely helpful to someone who may not be able to re-qualify for life insurance due to medical reasons. Converting an existing term life insurance policy is guaranteed and does not require you go through new medical underwriting.

Underwriting Niches: One of the number one ways for life insurance companies to stay competitive with their competition is through underwriting niches. These niches can range from one company being more favorable to certain health conditions such as heart issues, cancer, diabetes, cholesterol and blood pressure to name a few.  Other competitive underwriting niches may include height and weight, cigarette or chewing tobacco use, hazardous sport activities, driving history and even foreign underwriting. Our list of the 25 top life insurance companies will provide insight to where each company’s strong point is in underwriting niches.   

 

Our Top 25 Best Life Insurance Companies

Below in alphabetical order is our list of the Top 25 Best Life Insurance Companies. We have worked with each company on our list and all of them come highly recommend by Top Quote Life Insurance.

Quickly jump to any top 25 life insurance company by clicking the links below. 

  1. American International Group (AIG)
  2. American National Insurance Company (ANICO)
  3. Assurity
  4. Banner Life Insurance Company
  5. Cincinnati Life Insurance Company
  6. Fidelity Life Insurance
  7. Foresters Financial
  8. Gerber Life Insurance Company
  9. John Hancock
  10. Lincoln Financial Group
  11. MetLife Insurance
  12. Midland National
  13. Minnesota Life
  14. Mutual of Omaha
  15. Nationwide Insurance
  16. North American Company
  17. Pacific Life
  18. Principal Financial Group
  19. Protective Life
  20. Prudential Financial
  21. Sagicor
  22. Savings Bank Life Insurance (SBLI)
  23. Symetra
  24. Transamerica
  25. Voya Financial

 

Looking to skip the medical exam? Be sure to check our list of No Medical Exam Companies.

Are you a senior citizen? Be sure to check out our list of Senior Life Insurance Companies.

Need a small burial insurance policy? Be sure to check out our list of Final Expense Companies.

 

Best Life Insurance Company for…

 

American International Group (AIG)

A.M. Best Rating: (A)AIG top 25 best life insurance companies
Established: 1919
Headquarters: New York City, NY

AIG Best Underwriting Features:

  • Possible preferred for mild asthma, arrhythmia, anxiety, depression, elevated liver function tests, epilepsy and treated sleep apnea.
  • Scuba divers that dive 100 feet or less can get Preferred Plus.
  • Family health history is not a factor for applicants over the age of 66.
  • History of melanoma-in-situ, thyroid, testicular, cervical-in-situ and colon treated with surgery only can be considered for Standard possible better if it has been longer than 10 years with no other health issues.
  • Premiums on table rated policies (high risk) are cheaper than most competition.

AIG Best Policy Features:

  • Term lengths from 10, 15, 16, 17,18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30 & 35 years.
  • Term coverage with living benefit riders.
  • Only company to offer a 35 year term length
  • Return of premium feature on permanent coverage

Brief history of American International Group

In 1919 Cornelius Vander Starr established American Asiatic Underwriters (AAU), which will become what is now known as American International Group (AIG). AIG has an interesting beginning, as the company started in Shanghai China. AAU grew rapidly and business spread across China, Southeast Asia including the Philippines, Indonesia and Malaysia.

In 1926, Mr. Starr opened the first U.S. office in New York City. The company name would be called American International Underwriters (AIU). During this time the U.S. based company would grow not only throughout the U.S. but also in Latin America. By the end of the 1950’s AIU would have agents and offices providing life insurance coverage in over 75 countries.

American International Group is truly a fitting name as the company has been providing insurance coverage across the world for close to a century. As of 2014, AIG had a reported $515.6 billion in total assets with 88 million customers in 130 countries. The company is currently ranked #42 on the Fortune 500 list.  According to the website Banks Around the World, AIG ranks as the 4th largest U.S. life insurance company based on total assets.

AIG Select-A-Term Term Life Insurance

Term Lengths: 10, 15-30 Years
Minimum Death Benefit: $100,000
Issue Ages: 20-80
Convertible to Permanent: Yes
Medical Exam Required: Yes

AIG currently offers three different term life insurance options. Select-A-Term is their most popular of the three. The standard term life insurance contract usually comes in fixed term lengths anywhere from 10, 15, 20, 25 or 30 years. However, AIG’s Select-A-Term has taken a whole new approach to the standard term lengths by letting you choose from 17 different term lengths.

Select-A-Term’s shortest length is the 10-year followed by a 15-year. From 15 years and onward you can select a contract length anywhere from 15 to 30 years. So if you need a 17-year term policy or a 23-year term policy, you can get it with Select-A-Term. Select-A-Term will provide you the ability to customize the perfect term life insurance policy to meet all your life insurance goals.

Select-A-Term also has plenty of available riders to choose from such as the child term rider or accidental death benefit rider. All Select-A-Term policies come with a terminal illness rider that will advance a portion of the death benefit in the event of a qualifying illness.

Select-A-Term has a great conversion feature that allows you to convert your term policy into anyone of AIG’s universal life insurance policies.

Sample AIG Select-A-Term 10 Year Quotes

Sample Select-A-Term 10 year monthly rates for a male non-smoker who would qualify for the Preferred Plus health class. Rates subject to change. 

AGE$250,000$500,000$1,000,000
30$10.51$15.05$24.57
40$13.75$21.54$35.81
50$27.59$48.35$85.98
60$69.33$125.77$229.57

AIG Select-A-Term ROP Term Life Insurance

Term Lengths: 20-35 Years
Minimum Death Benefit: $100,000
Issue Ages: 20-55
Convertible to Permanent: Yes
Medical Exam Required: Yes

Select-A-Term ROP is AIG’s return of premium term life insurance coverage. At the end of your contract you will be paid 100% of all the payments you paid into life insurance coverage tax-free.

ROP Select-A-Term has 16 available term lengths beginning with a 20 year term duration and ending with the option of 35 year term duration.

AIG Quality of Life Flex Term Life Insurance

Term Lengths: 10, 15-35 Years
Minimum Death Benefit: $100,000
Issue Ages: 20-80
Convertible to Permanent: Yes
Medical Exam Required: Yes

Quality of Life (QoL) Flex Term is AIG’s third available term life insurance coverage option. QoL not only provides death benefit protection but it comes with three built in accelerated riders known as Living Benefits.

Imagine suddenly experiencing a critical illness or chronic illness or even worse, a terminal illness. The costs that can be associated with these illnesses can be extremely devastating to a family’s life savings. This is where AIG’s Quality of Life Flex Term can help by providing the ability to accelerate your policy’s death benefit for income due to a qualifying critical, chronic or terminal illness.

AIG’s Quality of Life Flex Term is life insurance coverage you can use while you’re alive!

AIG Secure Lifetime GUL 3 Permanent Life Insurance

Duration of Coverage: Age 121
Minimum Death Benefit: $100,000
Issue Ages: 18-80
Medical Exam Required: Yes

Secure Lifetime GUL 3 is AIG’s universal life insurance coverage that is backed with a guaranteed fixed premium and death benefit. The life insurance coverage is designed to last to age 121 but can be modified to a fixed premium length of your choice.

Secure Lifetime also has a return of premium feature that allows you to surrender your coverage in policy year 20 for a refund of (up to 50% of your premiums) or in year 25, for up to 100% of premiums (up to 40% of the death benefit).

In addition to the standard options included within the life insurance coverage, Secure Lifetime GUL 3 offers two additional ways to make it even better. At an additional cost, you can add the policy rider called Accelerated Access Rider that provides a predetermined monthly income for a qualifying chronic illness.

A second policy rider that can be added to the life insurance coverage is the Lifestyle Income Solution Rider. This rider starts paying out your death benefit at age 85 which can be used as a supplemental income stream. Payments are generally tax-free and should you pass away, any remaining death benefit will be paid out to your beneficiaries.

Sample AIG Secure Lifetime GUL3 Quotes

Sample Secure Lifetime GUL3 monthly rates for a male and female age 45 who would qualify for the Preferred Non-Smoker health class. Rates subject to change. 

AGE$100,000$250,000$500,000
45 Male$84.86$182.55$353.81
45 Female$75.41$158.13$299.91


American National Insurance Company ANICOANICO Top 25 Best Life Insurance Companies

A.M. Best Rating: (A)
Established: 1905
Headquarters: Galveston, TX

ANICO Best Underwriting Strengths:

  • Possible preferred for well-controlled sleep apnea, adult ADD, mild depression or anxiety.
  • Possible preferred for family history of death prior to age 60 of colon cancer, coronary artery disease or prostate cancer.
  • Possible standard plus for applicants over age 70 with past prostate cancer. Applicants with diabetes type 2 that are 50 and older and well controlled can also qualify for Standard Plus on permanent coverage.  
  • Generous height and weight guidelines

ANICO Best Policy Features:

  • No medical exam option on both term and permanent. Standard rates apply and death benefit cannot be greater than $250,000
  • Both term and permanent coverage comes with free critical, chronic and terminal illness riders.
  • Permanent coverage has 100% return of premium feature

Brief history of American National Insurance Company

American National Insurance Company also known as ANICO first began in 1905. Businessman William Lewis Moody, Jr. started operations with $100,000 of capital and $20,000 surplus. Moody believed that profits made by the insurance company should be re-invested into the company to finance future growth and that it did.

American National currently operates in all 50 U.S. states including Puerto Rico. In addition to life insurance coverage, the company offers annuities, health insurance and property and casualty insurance. ANICO is a publicly traded company with the Moody family controlling the majority of the stock.

With $24,287 million in total assets, ANICO ranks as the 49th largest U.S. life insurance company.

ANICO Signature Term & Term Express Life Insurance

Term Lengths: 10, 15, 20 & 30 Years
Minimum Death Benefit: $50,000
Issue Ages: 18-70 (Term Express: 18-65)
Convertible to Permanent: Yes
Medical Exam Required: Yes (Term Express: No)

Signature Term and Term Express are ANICO’s two term life insurance coverage options. The two coverage options are exactly the exam except for one factor…the medical exam. Term express does not require you to take a medical exam if you are applying for coverage under $250,000. However, anything under $250,000 is an automatic standard health classification.

Death benefits $250,001 and higher will require full medical exam underwriting with an opportunity to qualify for the Preferred rates.

Signature Term & Term Express both come with an excellent conversion feature that lets you exchange your term policy to ANICO’s permanent life insurance coverage. If you decide to exchange your term policy to permanent coverage within the 2nd to 5th policy year, ANICO will provide one year’s premium credit towards the new permanent coverage.

Another bonus feature that comes free with ANICO’s Signature Term and Term Express is their accelerated benefit riders. These riders provide the option to accelerate your policy’s death benefit in the event of a qualifying critical, chronic or terminal illness.

Sample ANICO Signature Term Express 20 Year Quotes

Sample 20 year Signature Term Express (no medical exam), monthly rates for male and female who would qualify for the Standard Non-Smoker health class. Rates subject to change. 

Age$50,000$100,000$250,000
Male 30
Female 30
$12.92
$11.49
$14.69
$12.96
$28.94
$24.62
Male 40
Female 40
$17.02
$15.02
$19.35
$17.37
$40.61
$35.65
Male 50
Female 50
$30.89
$23.76
$38.62
$29.89
$88.78
$66.96
Male 60
Female 60
$71.19
$50.07
$95.39
$66.53
$230.69
$158.54

ANICO Signature UL Permanent Life Insurance

Duration of Coverage: Age 121
Minimum Death Benefit: $25,000
Issue Ages: 18-80
Medical Exam Required: Yes $250,001+ (No $25,000 – $250,000)

ANICO’s Signature Universal Life Insurance comes with many of the same great features offered with their term coverage. Included with all Signature GUL coverage is the free accelerated benefits riders as well as the option to apply for non-medical underwriting with coverage under $250,000.

Signature GUL has a guaranteed death benefit and fixed premium that can be customized to last to age 95 to 121 years old.

In addition to free accelerated benefits riders, Signature GUL also has a return of premium feature called Guaranteed Cash-Out Rider. This rider is another free rider built into the coverage that lets you surrender the coverage at policy years 15, 20 and 25 for either a partial or full return of premium.

 

Assurity Life Insurance CompanyAssurity Top 25 Best Life Insurance Companies

A.M. Best Rating: (A-)
Established: 1890
Headquarters: Lincoln, NE

Assurity Best Underwriting Strengths:

  • Rates are based on actual age and not age nearest.
  • Can receive up to Standard Plus risk class without a medical exam.

Assurity Best Policy Features:

  • Up to $350,000 of term coverage without a medical exam.
  • Option to add a monthly disability income rider to the term coverage.

Brief history of Assurity Life Insurance Company

The history of Assurity dates back as far as 1890 with start of Modern Woodmen Accident Association. It wasn’t until 2007 that Assurity would became the official operating name of the company. Assurity is the result of three very large Nebraska based insurance companies all dating back to the late 1800’s merging to form one company now known as Assurity.

Assurity is a mutual organization. This means that they have no shareholders or publicly traded stock and the policyholders share in ownership of the company. At the beginning of 2016 Assurity has a reported $2.5 billion in total assets under management with $15.6 of total insurance inforce.

Assurity Term 350 Plus & Term 350 Non-Med Life Insurance

Term Lengths: 10, 15, 20 & 30 Years
Minimum Death Benefit: $50,000
Issue Ages: 18-74 (NonMed 350: 18-65)
Convertible to Permanent: Yes
Medical Exam Required: Yes (NonMed 350: No)

Assurity offers two versions of term life insurance coverage called Term 350 Plus and Term 350 NonMed. Similar to ANICO’s two versions of term coverage, Assurity also offers you a non-medical option when applying for coverage less than $350,000.

When the need for life insurance is greater than $350,000, the term coverage would fall under Assurity’s Term 350 Plus, which is their fully medically underwritten policy.

Both Term 350 NonMed and Term 350 Plus come with the option to convert your term coverage to permanent life insurance if coverage is needed past the term contract length.  In addition to the conversion feature, both versions of the term coverage offer several additional riders that you can add to your coverage.

When you purchase term coverage with Assurity it will come with a free accelerated benefits rider that lets you receive an advance payment of the policy’s death benefit if you are diagnosed with a terminal illness or are permanently confined to a nursing home.

For an additional cost, you can customize and strengthen your coverage by adding policy rider such as, Other Insured Term Rider, which lets you add term coverage on a spouse or business partner.

The Monthly Disability Income Rider, which provides a monthly income due to total disability from an accident or sickness.

The Critical Illness Rider, which pays out a lump sum benefit due to a qualifying critical illness.

The Return of Premium Rider that pays out a return of premium at the end of a 20 or 30 year term policy.

Sample Assurity Term 350 Non-Med 15 Year Quotes

Sample 15 year Non-Med 350 (no medical exam), monthly rates for male and female who would qualify for the Standard Non-Smoker health class. Rates subject to change. 

Age$50,000$100,000$350,000
Male 35
Female 35
$18.27
$13.83
$30.45
$21.58
$91.35
$60.29
Male 45
Female 45
$35.24
$24.40
$64.38
$42.72
$210.11
$134.28
Male 55
Female 55
$74.56
$50.85
$143.03
$95.61
$485.37
$319.42
Male 65
Female 65
$169.00
$109.53
$331.91
$212.98
$1,146.44
$730.19

Assurity Lifescape UL Permanent Life Insurance

Duration of Coverage: Age 121
Minimum Death Benefit: $25,000
Issue Ages: 0-85
Medical Exam Required: Yes

Lifescape UL is your traditional fixed premium guaranteed universal life insurance coverage. With Assurity’s Lifescape UL, you will be getting permanent life insurance coverage that will last to age 121. The coverage also has the same free accelerated benefit riders that are offered on the term insurance as well as several optional riders that can be purchased to customize the coverage to meet all your needs.

If considering Lifescape UL, be sure to ask about adding both the Critical Illness Rider and Monthly Disability Income Riders to make this coverage a living benefits machine.

 

Banner Life Insurance Company
Legal & General AmericaBanner Top 25 Best Life Insurance Companies

A.M. Best Rating: (A+)
Established: 1836
Headquarters: Frederick, MD

Banner Best Underwriting Strengths:

  • Preferred Plus consideration for non-smokers of 3 years.
  • Possible Preferred Plus with treated and well controlled Hypertension.
  • Controlled Diabetes Type II can possibly qualify for Standard Plus.
  • Asthma on two medications of less (well controlled) possible Preferred.
  • Most family history of cancer will not prevent from Preferred classes.

Banner Best Policy Features:

  • Term coverage from $100,000 to $500,000 requires no medical exam!
  • Can renew term coverage up to age 95
  • $50,000 minimum death benefit on universal life insurance policy.

Brief history of Banner Life Insurance

Banner Life Insurance is a subsidiary company owned by Legal & General Headquartered in London. Legal & General first formed in 1836 by six lawyers in a Chancery Lane coffee shop.

Legal & General quickly grew within the United Kingdom and soon after the United States as Banner Life Insurance.

With over 180 years in business, Banner has proved to be a top contender for life insurance coverage. Banner is ranked as the 6th largest insurance company worldwide based on total assets. They currently have a customer base of 10 million worldwide and nearly 1.14 million just in the U.S. The company has an A.M. Best rating of A+ with over $7.3 billion in assets.

Banner OPTerm Term Life Insurance

Term Lengths: 10, 15, 20, 25 & 30 Years
Minimum Death Benefit: $100,000
Maximum Death Benefit: $500,000 (No Exam) $500,000+ (With Exam)
Issue Ages: 18-74 (With Exam) 20-50 (No Exam)
Convertible to Permanent: Yes
Medical Exam Required: Yes $500,000+ (No Medical $100,000 – $500,000)

OPTerm is Banner Life’s very affordable term life insurance coverage that comes in available term lengths of 10, 15, 20, 25 and 30 years. Banner’s Opterm is pretty much your basic term life insurance coverage that comes with a terminal illness rider and conversion option.

As of 2016 Banner announced their new accelerated underwriting program called APPcelerate. This program is designed to eliminate the need for a medical exam, labs or medical records when applying for coverage between $100,000 – $500,000.

APPcelerate is fast underwriting with approvals times that can be made same day. If for some reason you don’t meet the non-medical guidelines, the application will be fully underwriting and could require an exam.  

OPTerm’s is one of very few companies to offer 25-year term duration that is often favorable for younger families. If term duration expires and conversion is too expensive or renewing is not an option, OPTerm lets you keep paying on the term insurance up to age 95 before it will expire.

OPTerm 20, 25 & 30 year term policies are very competitively priced at the $250,000 and $1,000,000.

Sample OPTerm Term 25 Year Quotes

Sample 25 year OPTerm monthly rates for both male and female non-smoker who would qualify for the Preferred Plus health class. Rates subject to change.

Age$250,000$500,000$1,000,000
Male 30
Female 30
$18.14
$15.54
$29.23
$24.56
$51.59
$42.68
Male 40
Female 40
$27.26
$22.69
$47.60
$38.97
$88.33
$69.99
Male 50
Female 50
$63.63
$49.11
$118.24
$88.80
$226.10
$168.55
Male 60
Female 60
$209.91
$146.34
$387.10
$287.44
$712.25
$550.37

Banner Life Step UL Permanent Life Insurance

Duration of Coverage: Age 121
Minimum Death Benefit: $50,000
Issue Ages: 20-85
Medical Exam Required: Yes

Life Step UL is your basic universal life insurance coverage that provides both a guaranteed death benefit that will last to age 121. Like all guaranteed universal policies, the price you pay for the life insurance will remain the same price for the entire duration of the policy.

Life Step UL comes with a free accelerated death benefit rider that pays 75% of the death benefit up to $500,000 in the event of a qualifying terminal illness.   

 

Cincinnati Life Insurance CompanyCincinnati Life Insurance Top 25 Best Life Insurance Companies

A.M. Best Rating: (A)
Established: 1950
Headquarters: Fairfield, OH

Cincinnati Life Best Underwriting Strengths:

  • Tobacco chewers and dippers can qualify for non-smoker rates with admitted use.
  • Rates are based on actual age rather than age nearest.

Cincinnati Life Best Policy Features:

  • Living benefit that can pay up to 50% of the death benefit if permanently confined to a nursing home.
  • Often #1 best priced for return of premium term life insurance coverage option.
  • $25,000 death benefit option on both term and universal coverage.

Brief history of Cincinnati Life Insurance

Formed in 1950 by four independent insurance agents, The Cincinnati Insurance Company has quickly grown to become a large insurance company. The company is mostly known for their property and casualty insurance and are ranked among the nation’s top 25 for such coverage. In 2015, Cincinnati Financial made Forbes’s America’s 50 Most Trustworthy Financial Companies list.

In addition to property and casualty coverage Cincinnati Insurance Company also offers annuities, disability insurance and life insurance coverage. Cincinnati Life Insurance formed in 1988 and to this date offers some of the cheapest rates for term life insurance coverage, often appearing in the top spot among competitors.

TermSetter Term Life Insurance

Term Lengths: 10, 15, 20, 25 & 30 Years
Minimum Death Benefit: $25,000
Issue Ages: 0-75 (No Medical: 0-60)
Convertible to Permanent: Yes
Medical Exam Required: Yes (No Medical $25,000 – $99,999)

Cincinnati Life Insurance offers an excellent line of very affordable life insurance products, which includes their term life insurance coverage called TermSetter. When comparing quotes online, most likely you will find Cincinnati Life Insurance in the top three for the cheapest price.

TermSetter comes in available term periods of 10, 15, 20, 25 and 30 years. If you require less than $100,000 of coverage there is a good chance you will not be required to take a medical exam.

Included with their term coverage is a free accelerated benefit riders that allows you to access up to 50% of the death benefit if you are diagnosed with a terminal illness or are permanently confined to a nursing home.

Cincinnati Life Insurance also considers their clients on an actual age basis when applying for coverage. This is a big plus, as many companies will round your age up if you fall within 6 month of your next birthday.

Another big advantage with Cincinnati Life is the way they underwrite smokeless tobacco user. If you are a current smokeless tobacco user you can get non-tobacco rates with admitted use.

When you purchase a TermSetter term life insurance policy, you will have the option to convert your term coverage to either their guaranteed universal life insurance or whole life coverage.

TermSetter Return of Premium Term Life Insurance

Term Lengths: 20, 25 & 30 Years
Minimum Death Benefit: $25,000
Issue Ages: 18-60 (No Medical: 18-60)
Convertible to Permanent: Yes
Medical Exam Required: Yes (No Medical $25,000 – $99,999)

With just a few companies offering a return of premium term life insurance policy, Cincinnati Life consistently comes up number one for overall price. Their ROP life insurance coverage covers the accelerated benefit option as well as an option to convert to their permanent coverage if needed.

Sample TermSetter ROP 30 Year Quotes

Sample 30 year TermSetter ROP monthly rates for both male and female non-smokers, who would qualify for the Preferred Plus health class. Rates subject to change.

AGE$100,000$250,000$500,000
Male 30
Female 30
$24.20
$20.42
$39.60
$33.44
$69.52
$55.44
Male 40
Female 40
$33.26
$26.31
$65.12
$52.36
$120.12
$95.92
Male 50
Female 50
$68.55
$51.74
$148.50
$115.72
$289.96
$222.20

LifeSetter UL Permanent Life Insurance

Duration of Coverage: Age 121
Minimum Death Benefit: $50,000
Issue Ages: 18-75
Medical Exam Required: Yes

LifeSetter UL is Cincinnati Life’s affordable worry-free universal life insurance coverage. LifeSetter UL is guaranteed to last an entire lifetime provided you make your scheduled payments on time.

With LifeSetter UL you have the options on how you can pay for your life insurance coverage. Choose to make reoccurring fixed payments to age 121 or pay a onetime payment never having to worry about payments again.

If you’re simply looking for a simple permanent life insurance plan, Cincinnati Life Insurance LifeSetter UL is worth looking into.  

 

Fidelity Life Insurance

A.M. Best Rating: (A-)Fidelity Life Top 25 Best Life Insurance Companies
Established: 1896
Headquarters: Chicago, IL

Fidelity Best Underwriting Strengths:

  • Standard non-smoker rates for non-nicotine use of 12 months.
  • Simplified non-medical exam underwriting for coverage less than $250,000.

Fidelity Best Policy Features:

  • Offers a unique combination of both life insurance and accidental death coverage.
  • Low $25,000 death benefit option on Rapid Decision Express coverage.
  • Entire application process is done electronically. No paper application.
  • Approval generally made within 24-48 hours.

Brief history of Fidelity Life Insurance

Fidelity Life Association was founded in 1896. Formerly called Mystic Workers of the World, the company provided financial protection throughout the Midwest and Northern States.   

Business continued to grow and by 1915 as the company had reached $100 million in inforce life coverage. By 1930 the company name was changed to Fidelity Life Association. For the next couple of decades Fidelity would increase in both assets and customers.

Fidelity life is an A- company with a total of $421.2 million in total assets and $28.6 billion in inforce life insurance coverage.  

Rapid Decision Term Life Insurance

Term Lengths: 10, 15, 20 & 30 Years
Minimum Death Benefit: $50,000
Maximum Death Benefit: $1,000,000
Issue Ages: 18-65
Convertible to Permanent: No
Medical Exam Required: Yes, if you want full death benefit coverage.

Rapid Decision is a very unique type of term life insurance coverage. Just like the name reads this coverage is designed to have a very quick underwriting time. Approval can be made within 24 to 48 hours without an exam and with death benefits up to $1,000,000.

If you are considering Rapid Decision Life, be aware that the life insurance starts off as a blend of two types of coverage, death benefit and accidental. In order to change your coverage to all death benefit and no accidental, you must complete a medical exam within 6 months of your policy being issued.  

If your health has worsened since the issue of your policy, then it will remain as blended life insurance. Passing the medical exam and showing that you are in good health is the only way to change the accidental death portion to full death benefit.

Rapid Decision Express Term Life Insurance

Term Lengths: 10, 15, 20 & 30 Years
Minimum Death Benefit: $25,000
Maximum Death Benefit: $250,000
Issue Ages: 18-65
Convertible to Permanent: No
Medical Exam Required: No

Rapid Decision Express is Fidelity’s true simplified issue non-medical term life insurance coverage. Unlike their Rapid Decision coverage, Rapid Decision Express is full death benefit coverage upon approval.

No medical exam will be required when applying for Rapid Decision Express Life Insurance. The best possible risk classification is standard. The application process is done electronically and approval should be made within 24-48 hours.

Sample Rapid Decision Express 10 Year Term Quotes

Sample 10 year term Rapid Decision Express monthly rates for both male and female non-smokers, who would qualify for the Standard health class. Rates subject to change.

Age$25,000$50,000$100,000$250,000
Male 35
Female 35
$14.53
$14.51
$21.66
$21.62
$23.32
$19.31
$47.20
$37.19
Male 45
Female 45
$14.86
$14.75
$22.32
$22.10
$32.62
$30.71
$70.47
$65.68
Male 55
Female 55
$24.49
$21.64
$41.59
$35.89
$71.25
$52.98
$167.04
$121.36
Male 65
Female 65
$46.07
$33.73
$84.74
$60.07
$161.99
$112.66
$393.89
$270.57

Foresters Financial

A.M. Best Rating: (A)Foresters Financial Top 25 Best Life Insurance Companies
Established: 1874
Headquarters: Toronto, CN

Foresters Best Underwriting Strengths:

  • Competitive with many high-risk health issues.

Foresters Best Policy Features:

  • Access to several membership benefits when you purchase a policy.
  • No medical exam option for death benefits less than $250,000.
  • Several free and optional policy riders to choose from.

Brief history of Foresters Financial

Foresters Financial may not be one of the bigger named life insurance companies but they should definitely not be overlooked. With an extremely long track record that dates back to 1874, Foresters been providing quality insurance and financial products for more than 140 years throughout Canada, the United States and the United Kingdom.

When you purchase life insurance coverage from Foresters you are considered more than just a policyholder you’re a member. As a Forester member you will eligible to participate in several unique benefits. Some of these benefits include Competitive Scholarships, Grants, Family Events, Legal Services and more.    

As of December 31, 2015 Foresters Financial reported just under $14 billion in assets with a total of $34 billion in total funds under management.  Foresters Financial has a customer base of over three million policy members.

Lifefirst Term Life Insurance

Lifefirst with Medical Exam

Term Lengths: 10, 20, 25 & 30 Years
Minimum Death Benefit: $250,001 (ages 18-50) $150,001 (ages 56+)
Issue Ages: 18-80
Convertible to Permanent: Yes
Medical Exam Required: Yes

Lifefirst Non-Medical Exam

Term Lengths: 20, 25 & 30 Years
Minimum Death Benefit: $50,000
Maximum Death Benefit: $250,000 (ages 18-55) $150,000 (ages 56-65)
Issue Ages: 18-65
Convertible to Permanent: Yes
Medical Exam Required: No

Lifefirst is the name of Foresters basic level term life insurance coverage. Lifefirst is offered in term durations of 10, 20, 25 and 30 years.

If you’re looking for a no exam option, Lifefirst Non-Medical is available with death benefits from $50,000 to $250,000 in term durations of 20, 25 and 30 years.

When you purchase a Lifefirst policy, not only does it provide death benefit coverage, but it may also come with additional policy features and member benefits.  

Two of the free policy features include the Common Carrier Accidental Death Benefit Rider that pays an additional death benefit if death occurs due to accidental injuries resulting while riding as a fare-paying passenger such as an airplane, bus or train.   

A second free policy feature is the Family Health Benefit Rider that pays a benefit if injury occurs as a result of a natural disaster such as a hurricane, tornado, tsunami, earthquake, volcanic eruption, being struck by lightening or typhoon.

Lifefirst also has several optional riders that can be added to the life insurance coverage known as living benefit. These optional riders such as Critical Illness Rider and Disability Income Rider can provide an income solution in the event that a qualifying illness has left you unable to earn income.

Sample Lifefirst Non-Medical Exam 20 Year Term Quotes

Sample 20 year term Lifefirst Non-Medical Exam monthly rates for both male and female non-smokers, who would qualify for the Standard health class. Rates subject to change.

AGE$50,000$100,000$150,000$250,000
Male 35
Female 35
$14.57
$14.49
$23.02
$22.84
$31.46
$31.20
$48.35
$47.91
Male 45
Female 45
$24.86
$24.02
$43.58
$41.92
$62.31
$59.81
$99.78
$95.60
Male 55
Female 55
$51.89
$47.96
$97.66
$89.78
$143.42
$131.61
$234.94
$215.26
Male 65
Female 65
$127.58
$105.88
$249.03
$205.63
$370.48
$305.38
N/A
N/A

Gerber Life Insurance Company

A.M. Best Rating: (A)Gerber Life Top 25 Best Life Insurance Companies
Established: 1967
Headquarters: White Plains, NY

Gerber Best Underwriting Strengths:

  • Favorable underwriting for children, adults and seniors.

Gerber Best Policy Features:

  • Great for smaller death benefits.
  • No medical exam option.

Brief history of Gerber Life Insurance Company

When most people see the iconic baby logo, they automatically associate it with both baby food and products. Although Gerber is one of the biggest brand names in the baby marketplace, they are also a big name within the life insurance marketplace.

Gerber first began offering life insurance coverage in 1967 as a subsidiary of Gerber Products Company. The company offers affordable life insurance products not only to children but adults and seniors as well.

Gerber life insurance is currently available throughout the Unites States, Canada and Puerto Rico. The company has a reported $45 billion of in force life insurance and totaling over 3.3 million policies.  

Gerber Term Life Insurance

Term Lengths: 20, 25 & 30 Years
Minimum Death Benefit: $25,000
Maximum Death Benefit: $150,000 (With Exam) $100,000 (Without Exam)
Issue Ages: 18-65 (With Exam) 18-50 (Without Exam)
Convertible to Permanent: Yes
Medical Exam Required: Yes (No $25,000 – $100,000)

For adults looking for term life insurance coverage, Gerber Term Life has a selection of term lengths from 10, 15, 20 or 30 years. You can purchase death benefit coverage from $25,000 to $150,000. Gerber also offers a no medical exam option if you fall between the ages of 18-50 years old and are applying for coverage less than $100,000.

When your term contract ends, Gerber has a conversion option that lets you exchange your policy for a permanent policy without any evidence of insurability. Rates will be adjusted based on age and the cost of a permanent coverage.

NOTE: Gerber Life Insurance is also known for their Guaranteed Acceptance Whole Life Insurance. This coverage is meant for individuals who have health conditions that would generally not qualify for life insurance coverage. Beware that this type of coverage is considered as graded death benefit, meaning it will only pay out the full death benefit after year 2.

 

John Hancock Life Insurance John Hancock Top 25 Best Life Insurance Companies

A.M. Best Rating: (A+)
Established: 1862
Headquarters: Boston, MA

John Hancock Best Underwriting Strengths:

  • Treated Coronary Artery Disease age 71+ with good follow-ups can get a possible Standard Plus to Preferred rating.
  • Controlled diabetes over age 60 with no other health complications can possibly get Preferred rating.
  • Successful treatment of early stage localized cancers such as breast cancer and prostate cancer may qualify for Standard rates.
  • Cigar, pipe and chewing tobacco users will be considered for Standard non-smoker rates with admitted use. Can test positive for nicotine.
  • Best underwriting for Non-U.S. Citizens with net worth’s of $10 million or more.

John Hancock Best Policy Features:

  • Vitality program offers a discount on life insurance premiums and reward by completing healthy activities.
  • Option to apply for $1,000,000 of term coverage without an exam.

Brief history of John Hancock

When it comes to choosing a top life insurance company, financial stability and a long favorable history is a must have for many. With over 150 years in the business and an A.M. Best rating of an A+ John Hancock is that company.  

John Hancock was first established in 1862 with a long successful history of providing both financial and insurance products to customers worldwide. John Hancock currently services over 3.5 million policyholders and has a company total of $401.1 billion in total assets under management.   

John Hancock Term (Term Life Insurance)

Term Lengths: 10, 15 & 20 Years
Minimum Death Benefit: $100,000
Issue Ages: 18-80
Convertible to Permanent: Yes
Medical Exam Required: Yes

John Hancock is known for having great financial products, but they also offer a very wide selection of life insurance products. Included in their line of life insurance products is their competitively priced John Hancock Term.

John Hancock Term comes in three-fixed premium term durations of 10, 15 and 20 years. Every John Hancock Term policy comes with the option to convert your term policy to permanent life insurance as long as it’s done within the first six policy years.

John Hancock Term Life Insurance with Vitality

Term Lengths: 10, 15 & 20 Years
Minimum Death Benefit: $250,000
Issue Ages: 20-70
Convertible to Permanent: Yes
Medical Exam Required: Yes

If you are someone who lives a healthy lifestyle, are an active person and enjoys saving money, John Hancock’s Term with Vitality may be the life insurance coverage you are looking for. The Vitality program rewards you for living a healthy lifestyle.

Vitality is designed as a point based system. Points are earned by completing activities throughout the policy year. The great thing about the Vitality program is that the list of qualifying activities are super easy and you have an entire year to get as many of them done as you can. Some of the activities include things like working out, getting an annual health checkup, getting a dental check up, participating in watching online videos and many more.

Since the Vitality program is point based, you want to get as many points as you can. Your overall points will classify you into a status each year of bronze, silver, gold or platinum. The higher the status will result in lower insurance premiums and better rewards.

Every person that enrolls into the Vitality program will receive a free Fitbit device and personal login to track progress.

SmartProtect Term Life Insurance with Vitality (No Medical Exam)

Term Lengths: 10, 15 & 20 Years
Minimum Death Benefit: $100,000
Maximum Death Benefit: $1,000,000
Issue Ages: 20-60
Convertible to Permanent: Yes (Only to Survivorship UL)
Medical Exam Required: No

Looking for all the benefits of the Vitality program without having to take a medical exam? SmartProtect Term is John Hancock’s no medical exam term life insurance coverage. What makes SmartProtect Term standout from other no med coverage options is that you can qualify for up to $1,000,000 without a medical exam. Another bonus is that approval is generally made within 2 days.

SmartProtect term is only available with Vitality.

 

Lincoln Financial Group

A.M. Best Rating: (A+)Lincoln Financial Group Top 25 Best Life Insurance Companies
Established: 1905
Headquarters: Radnor, PA

Lincoln Best Underwriting Strengths:

  • Family history of cancer or diabetes does disqualify for Preferred rates.
  • Preferred consideration with occasional cigar use of up to 24 cigars per year and a negative urine test for nicotine.
  • Standard consideration with cigars, chewing tobacco and pipe use with a positive urine test for nicotine.
  • Favorable underwriting for applicants age 70+ for cholesterol, blood pressure and height & weight.
  • Preferred Plus consideration for applicants with cholesterol ratio of 230 or less with an HDL of 5.5.

Lincoln Best Policy Features:

  • Option to apply for $500,000 of term coverage without an exam.
  • Often #1 for best-priced term insurance for death benefits over $500,000.

Brief history of Lincoln Financial Group

Lincoln Financial was founded in 1905 by a group of business leaders based out of Fort Wayne, Indiana. The company is named after our 16th President Abraham Lincoln and was endorsed by his son Robert Todd Lincoln to use his father’s name and image.

The name is fitting as the company takes much pride in building a company that is based on the same values of President Abraham Lincoln. Dependability, honesty and service are what you will get when you become a member of Lincoln Financial Group.

As of June 2016, Lincoln Financial reported a total of $223 billion in assets under management. In 2015, Lincoln Financial ranked #1 in universal life insurance sales and #3 in total life insurance sales among U.S. life insurance companies.

LifeElements Term Life Insurance

Term Lengths: 10, 15, 20 & 30 Years
Minimum Death Benefit: $250,000
Issue Ages: 18-80
Convertible to Permanent: Yes
Medical Exam Required: Yes

Lincoln Financial is well known for their financial products as well as having a wide selection of life insurance options. LifeElements is the name of their popular term life insurance coverage. LifeElements comes in coverage lengths of 10, 15, 20 and 30 and is priced very well amongst their competition. If you are looking for life insurance coverage in the amount of $1,000,000 or higher, most likely LifeElements will be one of the best-priced term coverage.

Lincoln TermAccel Term Life Insurance

Term Lengths: 15, 20 & 30 Years
Minimum Death Benefit: $100,000
Maximum Death Benefit: $500,000
Issue Ages: 18-50
Convertible to Permanent: Yes
Medical Exam Required: No

Lincoln has taken a step into the no medical life insurance game by creating their new TermAccel life insurance coverage. TermAccel term life insurance does not require a medical exam if you are applying for life insurance coverage between $100,000 to $500,000.

TermAccel is designed to be a quick and easy application process that is all done online with an agent. Once your e-app has been submitted you will be required to do telephone interview conducted by a Lincoln Financial representative.

LifeGuarantee UL Permanent Life Insurance

Duration of Coverage: Age 121
Minimum Death Benefit: $100,000
Issue Ages: 20-85
Medical Exam Required: Yes

Lincoln Financial offers permanent protection with their LifeGuarantee universal life insurance coverage. LifeGuarantee UL is designed with a guaranteed death benefit and has a fixed premium that lasts until age 121. In additional to well-designed life insurance coverage, LifeGuarantee UL has several riders that can be added to the policy to enhance overall protection.

A free rider that is included with LifeGuarantee UL coverage is the LifeEnhance rider. The LifeEnhance rider is a living benefits type rider that pays out a portion of the death benefit for a qualifying permanent chronic or terminal illness. This rider can also be used if you require permanent nursing home care.


MetLife Top 25 Best Life Insurance CompaniesMetLife Insurance

A.M. Best Rating: (A+)
Established: 1868
Headquarters: New York City, NY

MetLife Best Underwriting Strengths:

  • Best company for active duty military and reservists. MetLife will approve at Preferred rates even if deploying to war zone territories.
  • External conversion option allows for term policies with other companies to be converted to MetLife’s permanent coverage without evidence of insurability.
  • Recreational and medical marijuana users can qualify for non-smoker rates.
  • Very competitive with high risk health conditions such as diabetes type 1 and 2, blood pressure, anxiety, epilepsy and prostate cancer.

MetLife Best Policy Features:

  • Solid traditional term life insurance coverage with affordable rates.

Brief history of MetLife Insurance

MetLife has been insuring lives for over 140 years. Often branded with the Peanuts character Snoopy, MetLife is well known insurance company to most people both in the U.S. and internationally.

*As of October 2016, MetLife parted ways with the Peanuts character Snoopy. After a 30 year relationship, MetLife has redesigned their brand to feature new clean and modern look.

Coming a long way from being a company that began offering only life and accident insurance, MetLife is a major insurer of coverage options such as home and auto insurance, dental and vision insurance and disability and employee benefits plans. Along with several insurance options, MetLife is also very large in the retirement planning market.

MetLife operates in nearly 50 countries providing insurance and financial options to 100 million customers. The company ranks 39th on the Fortune 500 list and has a total of $473.7 billion in assets under management.

MetLife Guaranteed Level Term Life Insurance

Term Lengths: 10, 15, 20 & 30 Years
Minimum Death Benefit: $100,000
Issue Ages: 18-75
Convertible to Permanent: Yes
Medical Exam Required: Yes

With several insurance options available to consumers, life insurance is still a big part of MetLife’s business. One of their most popular types of coverage is their Guaranteed Level Term insurance.

GLT is available in four different coverage lengths of 10, 15, 20 and 30 years with the option to convert to a permanent policy.

  

Midland National Life Insurance

A.M. Best Rating: (A+)Midland National Top 25 Best Life Insurance Companies
Established: 1906
Headquarters: Sioux Falls, SD

Midland National Best Underwriting Strengths:

  • Competitive underwriting for high cholesterol, pain medication use, sleep apnea, depression, anxiety and high blood pressure.  

Midland National Best Policy Features:

  • Plain and simple affordable term life insurance with a guaranteed conversion option to switch to permanent life insurance.
  • Free living benefit riders on the permanent life insurance coverage.

Brief history of Midland National

Midland’s history dates back to 1906 when the company first began under the name Dakota Mutual Life Insurance Company. Throughout economically unstable times, the company continued to steadily grow. In 1925 Dakota Mutual Life Insurance would change its name to what is now known as Midland National Life Insurance.

Midland National continues to grow providing life insurance and annuity products throughout the U.S. Midland National provides service to over one million active life insurance and annuity policyholders. The company has a reported $44 billion in total assets under management with $143.6 billion in life insurance coverage in force.

Premier Term Life Insurance

Term Lengths: 10, 15, 20 & 30 Years
Minimum Death Benefit: $100,000
Issue Ages: 18-75
Convertible to Permanent: Yes
Medical Exam Required: Yes

Midland National offers its Premier Term for anyone seeking an affordable term life insurance coverage option. Premier Term comes in fixed premium lengths of 10, 15, 20 and 30 years with the option to convert to a permanent plan if needed.

Essential GUL4 Permanent Life Insurance

Duration of Coverage: Age 120
Minimum Death Benefit: $25,000 (Ages 60-85) $50,000 (Ages 0-59)
Issue Ages: 0-85
Medical Exam Required: Yes

Essential GUL4 is Midland’s universal life insurance coverage. This coverage is designed to have a guaranteed fixed premium that will last to age 120. Optional riders such as guaranteed insurability and accidental death can be added to the base coverage.

A great feature that is included free with the base policy is the Accelerated Death Benefit Endorsement Riders. These riders can pay out a portion of the policy’s death benefit in the event of a qualifying critical, chronic or terminal illness.

 

Minnesota LifeMinnesota Life Top 25 Best Life Insurance Companies

A.M. Best Rating: (A+)
Established: 1880
Headquarters: Saint Paul, MN

Minnesota Life Best Underwriting Strengths:

  • Competitive underwriting for high cholesterol, pain medication use, sleep apnea, depression, anxiety and high blood pressure.  
  • Occasional cigarette users can qualify for non-smoker rates with 12-24 uses per year. Must admit to use and urine needs to be negative for nicotine.
  • Individuals who are outside their maximum height and weight limits may be considered for that risk class if there are no other health issues.

Minnesota Life Best Policy Features:

  • One of very few companies to offer a 5-year term life insurance policy.
  • Fast no medical exam option with approval in as little as 24 hours.
  • Easy online application process.

Brief history of Minnesota Life

Minnesota Life dates back to 1880 when Russell Dorr originally created the company Bankers Association of Minnesota, making it the first life insurance company in Minnesota.

By 1901 the company would go through a restructure and operate for nearly a century as Minnesota Mutual Life Insurance Company. Along the way Minnesota Life would offer millions of policyholders with coverage options such as employee benefits, business protection, financial product and of course life insurance coverage.

As of present time, the company operates as Minnesota Life, as a subsidiary company of Securian Financial Group. Minnesota Life has an outstanding track record, as they currently operate as an A+ rated company with nearly 16 million customers and over $1.15 trillion of in force insurance coverage.  In 2016 the company reported to have a total of $65 billion of assets under management.  

Advantage Elite Select Term Life Insurance

Term Lengths: 5, 10, 15, 20 & 30 Years
Minimum Death Benefit: $100,000 (No exam $100,000 – $249,999)
Issue Ages: 16-80
Convertible to Permanent: Yes
Medical Exam Required: Yes (No if less than $249,999 at Standard Class)

Advantage Elite Select is Minnesota Life’s level premium term life insurance coverage. Premiums are guaranteed to remain the same price depending on the term plan you select.

Minnesota Life is one of the very few life insurance companies to offer 5-year term length for those who need something shorter than the standard 10 year. The Advantage Elite Select has a conversion option that allows you to convert your policy to permanent coverage at the end of the term.   

Looking for a no exam option? With Advantage Elite Select, if you require less than $249,999 of death benefit coverage you may qualify for express issue underwriting. Express issue is only available at the standard health classification and requires no physical exam or blood work. Coverage can be approved within 24 hours.

 

Mutual of OmahaMutual of Omaha Top 25 Best Life Insurance Companies

A.M. Best Rating: (A+)
Established: 1909
Headquarters: Omaha, NE

Mutual of Omaha Best Underwriting Strengths:

  • Rates based on actual age and not age nearest.
  • Unisex height and weight chart.
  • Non-Smoker rates for occasional marijuana use. Can test positive with admitted use.
  • Family history does not apply if over age 60.
  • Competitive underwriting with history of mild asthma, mild sleep apnea, hypertension and cholesterol.

Mutual of Omaha Best Policy Features:

  • Up to $300,000 of term and permanent insurance without a medical exam.
  • 20 or 30 year return of premium option with or without medical exam.
  • Fast no medical exam option with approval in as little as 24 hours.
  • Easy online application process.

Mutual of Omaha dates back to 1909 when it was originally called Mutual Benefit Health & Accident Association. The company grew fast, by 1920 Mutual Benefit was officially selling in 15 states and hitting the $1 million in premium in less than 20 years.

By 1950 the company shortened their name to Mutual of Omaha and introduced their Native American logo, which is still used today. In 1963 the company developed a very popular primetime television show titled  Mutual of Omaha’s Wild Kingdom.

Mutual of Omaha is a Fortune 500 company that offers several insurance and financial products in all 50 states. They have a customer base of 4.1 million individual policyholders, with a total of $35.6 billion in total assets under management.

Term Life Answers Term Life Insurance

Term Lengths: 10, 15, 20 & 30 Years
Minimum Death Benefit: $100,000
Issue Ages: 18-80
Convertible to Permanent: Yes
Medical Exam Required: Yes

Term Life Answers is their basic and most affordable term life insurance coverage. Coverage is available in term lengths of 10, 15, 20 and 30 years and comes with the option to convert to permanent coverage at the end of the term contract.

In addition to some of the more common life insurance riders, Term Life Answers offers two riders that are unique.

The Other Insured Rider is an optional rider that allows for an additional insured to be added to the term coverage.  

The second rider is the Waiver of Premium for Unemployment Rider, which waives premiums if the insured becomes unemployed and is receiving unemployment benefits.  

Term Life Express Term Life Insurance

Term Life Express

Term Lengths: 10, 15, 20 & 30 Years
Minimum Death Benefit: $25,000 (Ages 18-65)
Maximum Death Benefit: $300,000 (Ages 18-50) $250,000 (Ages 51-65)
Issue Ages: 18-65
Convertible to Permanent: Yes
Medical Exam Required: No

Term Life Express Return of Premium (ROP)

Term Lengths: 20 & 30 Years
Minimum Death Benefit: $25,000 – $300,000 (Ages 18-50) $25,000 – $250,000 (Ages 18-50)
Issue Ages: 18-50
Convertible to Permanent: Yes
Medical Exam Required: No

If you’re looking for a no medical exam option, Mutual of Omaha offers it with their Term Life Express and Express Return of Premium coverage. With Term Express you can choose a 10, 15, 20 or 30-year policy with up to $300,000 in death benefit coverage without having to take a medical exam.

Term Life Express offers 9 different policy riders in which 5 of them come free with the term coverage. These riders include, Living Benefits Riders, Accelerated Death Benefit Rider, Residential Damage Waiver of Premium Rider, Waiver of Premium for Unemployment Provision and Common Carrier Death Benefit Rider. One of the optional riders that are available, at and additional cost, is the Disability Income Rider that pays out a monthly benefit in the event of a qualifying disability.

Term Express is also available in a return of premium option, also known as ROP. The return of premium coverage is available in term lengths of both 20 and 30 years.  

NOTE: Best health classification is Standard for this coverage

Guaranteed UL and GUL Express Permanent Life Insurance

Guaranteed UL (GUL)

Duration of Coverage: Age 120
Minimum Death Benefit: $50,000 (Ages 66-85) $100,000 (Ages 18-85)
Issue Ages: 0-85
Medical Exam Required: Yes

Guaranteed UL (GUL) Express

Duration of Coverage: Age 120
Minimum Death Benefit: $25,000 (Ages 18-65)
Maximum Death Benefit: $300,000 (Ages 18-50) $250,000 (Ages 51-65)
Issue Ages: 18-65
Medical Exam Required: No

Mutual of Omaha offers a permanent life insurance solution with their Guaranteed UL (GUL) coverage. GUL comes with a fixed premium and a guaranteed death benefit that will last to age 120.

One of the many perks of purchasing Mutual of Omaha’s GUL coverage, is that it comes with two free policy riders called the Accelerated Death Benefit Riders and Enhanced Surrender Value Rider.

The Accelerated Death Benefit Riders provides the opportunity to get cash from the death benefit for a qualifying terminal or chronic illness.

The Enhanced Surrender Value Rider is a return of premium rider that provides up to 50% of your premiums paid into life insurance coverage if you decide you no longer need the life insurance and cancel it at policy year 15. Up to 100% can be refunded if you decide to cancel the coverage at policy years 20-25.

GUL also comes in a no medical exam option if you require less than $300,000 in coverage. The best health classification is Standard for no medical exam underwriting.  

 

Nationwide InsuranceNationwide Top 25 Best Life Insurance Companies

A.M. Best Rating: (A+)
Established: 1926
Headquarters: Columbus, OH

Nationwide Best Underwriting Strengths:

  • Competitive Preferred underwriting for hypertension and/or hyperlipidemia, abnormal liver function tests and Barrett’s esophagus.
  • Competitive Standard underwriting for Coronary Artery Disease (CAD), well controlled diabetes and breast cancer history.

Nationwide Best Policy Features:

  • Wellness credits program offers the ability to be bumped up to the next health class for living a healthy lifestyle.
  • Term coverage purchased within the last 3 years from another company can be exchanged for a Nationwide permanent life insurance policy.
  • Optional long-term care rider can be added to permanent policy.  

Brief history of Nationwide Insurance

Founded in 1926, Nationwide has built itself into one of the largest providers of insurance and financial products in the world. Nationwide was originally known as The Farm Bureau Mutual Automobile Insurance Company with the goal of providing low cost auto insurance to farmers in Ohio.

Over several years the company grew and expanded not only in the state of Ohio, but also across the entire U.S. offering several financial and insurance products to everyone. In 1955 the company officially changed its name to what is now known as the insurance giant, Nationwide.

In over 85 years, Nationwide has grown from a small auto insurer to a huge Fortune 500 Company with over 30,000 employees and over $158 billion in assets.

YourLife Term Life Insurance

Term Lengths: 10, 15, 20 & 30 Years
Minimum Death Benefit: $100,000
Issue Ages: 18-70
Convertible to Permanent: Yes
Medical Exam Required: Yes

YourLife is the name of Nationwide’s level premium term life insurance coverage. Coverage is available in term lengths of 10, 15, 20 or 30 years. Coverage can be purchased from $100,000 up into the millions. YourLife comes with available policy rider such as the accelerated death benefit rider, waiver of premium rider, child rider and the spouse rider.

The spouse rider is not commonly found on most term life insurance options making it a unique policy rider available with Nationwide. In addition to policy riders, Nationwide gives you the opportunity to convert your term life insurance into permanent coverage without any medical requirement if it’s done prior to age 65.

YourLife No-Lapse GUL Permanent Life Insurance

Duration of Coverage: Age 120
Minimum Death Benefit: $100,000
Issue Ages: 18-85
Medical Exam Required: Yes

YourLife No-Lapse guaranteed universal life insurance is Nationwide’s permanent life insurance options. Coverage meets long-term needs as it’s designed to keep a fixed premium and guaranteed death benefit to age 120.

Along with a fixed premium and guaranteed death benefit, YourLife No-Lapse guaranteed universal life insurance coverage has an optional long-term care rider that can be added to the coverage.

The long-term care rider is available at an additional cost, but when purchased it provides the opportunity to accelerate the death benefit to help pay for long-term care expenses.

 

North American CompanyNorth American Company Top 25 Best Life Insurance Companies

A.M. Best Rating: (A+)
Established: 1886
Headquarters: Sioux Falls, SD

North American Best Underwriting Strengths:

  • Health conditions that are not severe, but would normally not qualify for Preferred will be considered.  

North American Best Policy Features:

  • Critical, chronic and terminal illness riders are included free with permanent coverage.

Brief history of North American Company

With 130 years of business in the U.S., North American Company has been one of the leading providers of life insurance and annuities. North American was founded in 1886 and to this day continues to provide outstanding customer service to their policyholders along with competitive insurance and financial products to attract new customers.

North American Company is a privately owned company and member of Sammons Financial Group, Inc. (SFG). SFG is part of a group of several successful financial companies that offer a variety of financial and retirement products. Members of SFG are not publicly traded companies so they are not subjected to short-term earning pressures that are often faced by publicly traded companies. The members of SFG continue to grow on both strength and stability.

North American Company currently services nearly 560,000 life and annuity policyholders with total assets over $18 billion. The company ranks 77th on the Forbes 2015 List of America’s Largest Private Companies.

ADDvantage Term Life Insurance 

Term Lengths: 10, 15, 20 & 30 Years
Minimum Death Benefit: $100,000
Issue Ages: 18-75
Convertible to Permanent: Yes
Medical Exam Required: Yes

ADDvantage is the name of North American Company’s guaranteed level premium term life insurance coverage. Plans are available in fixed premium term lengths of 10, 15, 20 or 30 years.

ADDvantage term life insurance offers the optional policy riders of both waiver of premium and child term rider. Included with the term coverage is the Accelerated Death Benefit Rider that pays out a portion of the death benefit for a qualifying terminal illness.

If life insurance needs become more permanent, North American allows conversion to their permanent life insurance coverage as long as it’s done after the 5th policy year and before the age of 74.

Custom Guarantee UL Permanent Life Insurance

Duration of Coverage: Age 120
Minimum Death Benefit: $25,000
Issue Ages: 18-85
Medical Exam Required: Yes

When permanent coverage is needed, North American offers their Custom Guarantee universal life insurance. Custom Guarantee is fixed premium life insurance to age 100, but the coverage and death benefit is guaranteed to age 120.

As an added bonus, Custom Guarantee comes with a free accelerated death benefit rider that advances a portion of the death benefit for a qualifying chronic or terminal illness.

A second bonus to Custom Guarantee life insurance coverage is the flexibility to switch the life insurance coverage, if insurance needs change. The main focus with Custom Guarantee coverage is to provide low cost permanent protection so the coverage will not build much cash value. With Custom Guarantee, you can exchange your policy for one of North American’s universal life insurance policies that are geared towards building up cash values.

North American is one of very few life insurance companies to offer a minimum death benefit of $25,000 on a universal life insurance policy. This is a great option for those who are looking to cover smaller insurance needs that don’t need $100,000 or more in coverage.

 

Pacific Life Insurance Company

A.M. Best Rating: (A+)Pacific Life Top 25 Best Life Insurance Companies
Established: 1868
Headquarters: Newport Beach, CA

Pacific Life Best Underwriting Strengths:

  • Competitive underwriting for many minor health issues.

Pacific Life Best Policy Features:

  • Short online application process.
  • Conversion credit of one year’s worth of term premium added towards permanent policy.
  • No medical underwriting for term life insurance coverage less than $249,999.

Brief history of Pacific Life Insurance Company

Pacific Life Insurance Company is another company that is well known by its strong marketing and long history within the insurance industry. Pacific Life dates back to 1868, formerly known as Pacific Mutual. The first policy sold was issued to the company’s first president, Leland Stanford, Jr. who was also the founder of Stanford University.   

Fast forward almost a century and a half later and Pacific Life Insurance continues to be a powerhouse in both the financial and insurance marketplace. As of 2015, Pacific Life Insurance Company reported a total of 137 billion in company assets, 2.1 billion in paid life insurance and annuity benefits and is ranked the 326th company on the Fortune 500 list.    

Pacific Prime Term Life Insurance

Term Lengths: 10, 15, 20 & 30 Years
Minimum Death Benefit: $100,000
Issue Ages: 18-70 (18-60 Simplified Issue)
Convertible to Permanent: Yes
Medical Exam Required: Yes (No if applying for less than $249,999)

Pacific Prime is term life insurance coverage offered by Pacific Life Insurance. Coverage comes in fixed term length of 10, 15, 20 and 30 years.

Prime Term is your basic term life insurance coverage. It is competitively priced at the preferred health classes making it a top choice based on overall price. Along with great prices, Prime Term provides extra protection with a terminal illness riders and conversion feature that lets you convert to cash value life insurance coverage.

A big benefit when applying for term life insurance coverage with Pacific Life is how easy they have made the entire process. Their application is short and quick. It can be done on paper or best of all electronically. Once the application is submitted you will be required to do a short telephone interview with a representative from the life insurance company.

For simplified underwriting that does not require a medical exam, Prime offers it when applying for coverage less than $249,999.

Pacific Prime also comes with a conversion option that allows for the term coverage to be switch to permanent coverage without the evidence of insurability. A conversion credit of one year’s worth of term premium will be applied to the new permanent coverage if coverage is converted within the first five years.   

 

Principal Financial GroupPrincipal Financial Group Top 25 Best Life Insurance Companies

A.M. Best Rating: (A+)
Established: 1879
Headquarters: Des Moines, IA

Principal Best Underwriting Strengths:

  • Principals Healthy Lifestyle Credits is an underwriting tool to help provide the best health class for applicants with a medical history living a healthy lifestyle. Some health conditions include, asthma, anxiety, depression, colitis, sleep apnea, build and blood pressure.

Principal Best Policy Features:

  • Accelerated underwriting program allows for up to $1,000,000 of term life insurance coverage without an exam. This program is designed for healthy applicants who would generally qualify for the Preferred health class. It is noted that 50-60% of applicants will qualify for accelerated underwriting. If you do not qualify you will be required to complete a medical exam provided by the company.

Principal Financial is a global financial investment management leader that provides financial products worldwide. The company currently ranks 236th on the Fortune 500 list with $527.7 billion assets under management.

Founded in 1879 by Edward Temple, Principal began only offering life insurance products in the form of memberships to males between the ages 22-55. The company took a very safe approach on who could qualify for coverage. You had to be in very good health and could not have a high-risk occupation in order to qualify.

By 1889, Principal Financial who at the time operated under the name Banker Life Association would have $29 million of life insurance memberships in effect. Throughout many successful years of business Banker Life would change its name to what is now Principal Financial. To this day Principal Financial continues to grow as a leading provider of both insurance and financial products worldwide.

Principal Term Life Insurance

Term Lengths: 10, 15, 20 & 30 Years
Minimum Death Benefit: $200,000
Issue Ages: 20-80
Convertible to Permanent: Yes
Medical Exam Required:

Some applicants will not be required to take an exam. Simply called “Principal Term Life Insurance”, policy’s come in available term lengths of 10, 15, 20 and 30 years. Included with the coverage is a terminal illness rider that allows for acceleration of the death benefit if qualification has been met.

Principal’s term life insurance coverage has a minimum death benefit amount that starts at $200,000. For those that need higher death benefits such as $1,000,000 or more, Principal will often rank within the top three for overall price as that is where they are most competitively priced.

In addition to having great rates at $1,000,000 or more in coverage, Principal is one of the very few companies in which you can apply for up to $1,000,000 of term life insurance without having to take a medical exam.

Principals “Accelerated Underwriting” program is designed to provide a quick and easy way to apply for coverage without any need of an exam or lab testing. If you meet their Accelerated Underwriting guidelines approval can be made in as little as 48 hours. It should be noted that only 50-60% of applicant will qualify for no exam underwriting and there may be a chance that you are required to take a medical exam for approval.

Protector IV UL Permanent Life Insurance

Duration of Coverage: Age 121
Minimum Death Benefit: $25,000
Issue Ages: 0-85
Medical Exam Required: Some applicants will not be required to take an exam.

Protector IV is Principals flexible premium universal life insurance coverage. Protector IV is designed with a Lapse Protection rider (LPR) that guarantees the policy death benefit to age 121 regardless of changes in interest rates, policy charges or increases in the cost of insurance.

Protective IV also uses the same accelerated underwriting process as their term coverage. Medical exams and lab testing will not be required for those who pass the application pre-screening. Another similarity as the term coverage is the competitive pricing for death benefits of $1,000,000 or more.   

Protective IV comes with many optional policy riders such as the Cost of Living Increase Rider. The Cost of Living Increase Rider allows for an opportunity for the death benefit to be increased without evidence of insurability.

 

Protective LifeProtective Life Top 25 Best Life Insurance Companies

A.M. Best Rating: (A+)
Established: 1907
Headquarters: Birmingham, AL

Protective Life Best Underwriting Strengths:

  • Health conditions such as high blood pressure, build, cholesterol and family history may be considered for the Preferred health class.  
  • Family history does not apply to applicants is 60+.
  • Preferred consideration for private pilots age 27-65.

Protective Life Best Policy Features:

  • Term coverage turns into decreasing term insurance at the end of the term contract.
  • Often #1 for best-priced term insurance with death benefits over $1,000,000.
  • Optional chronic illness rider can be added to permanent coverage.

Brief history of Protective Life

William Dorsey Jelks a former governor of Alabama founded Protective Life in 1907. The company offered life insurance coverage to residents of Alabama. By 1909 Protective Life had paid out its first death claim.

Protective Life would continue to see significant growth for many years to come. The company would expand its services of providing families with life insurance across the entire U.S. By 1932, the company had recorded $65 million of in force life insurance coverage. Not long after that, they hit the $1 billion mark of in force coverage.

With over a century of continued success, and acquiring a total of 47 companies such as West Coast Life and Mony Life Insurance, Protective Life has proved that they are a top choice for life insurance coverage.

Protective Life is an A+ rated company with a reported $68.5 billion in assets under management. The company provides service to a total of 7.8 million policies and contracts that total $767.3 billion.  

Custom Choice UL (Term Life Insurance) 

Term Lengths: 10, 15, 20, 25, 30 Years and Lifetime
Minimum Death Benefit: $100,000
Issue Ages: 18-75 (85 for Lifetime plan)
Convertible to Permanent: Yes
Medical Exam Required: No

Protective Life offers a very unique type of term life insurance coverage. Their term insurance is actually considered to be a universal life insurance policy. Custom Choice UL is designed to be a flexible premium universal life insurance policy with the features of a term life insurance policy.

Custom Choice UL works by selecting a coverage length just the same as a term policy. Coverage comes in contract lengths of 10, 15, 20, 25 or 30 years and even lifetime. Premium payments will remain the same price until the selected contract length is over.

What makes Custom Choice UL different from a traditional term life insurance policy is that when the initial contract length is over the policy turns into a decreasing term policy. The premium payment will remain level but the death benefit will decrease year after year until it reaches $10,000. When the coverage hits $10,000 the premium will then increase year after year.

Custom Choice UL also comes with the option to convert your coverage to without evidence of insurability to several of Protective Life’s permanent plans.  

Advantage Choice UL (Permanent Life Insurance)

Duration of Coverage: Age 121
Minimum Death Benefit: $50,000
Issue Ages: 18-85
Medical Exam Required: Yes

If you’re looking for something more permanent, Protective Life offers their Advantage Choice UL. Advantage Choice is universal life insurance that comes in a fixed premium plan and has a death benefit that is guaranteed to last to age 121.

Riders such as accidental death, children’s term insurance and disability benefit can all be added to the life insurance coverage at an additional cost.

The ExtendCare Rider: The ExtendCare rider is an optional rider that can be added to the Advantage Choice Universal Life Insurance coverage. When ExtendCare is added to the life insurance coverage it will allow for up to 100% of the death benefit to be accelerated for cash if diagnosed with a qualifying chronic illness.

With the ExtendCare rider you have the option to choose either a 3 or 12 month elimination period before benefits will start paying out. The monthly benefit amount that may be selected is $1,000 to $9,900 and has no requirements on how you spend the proceeds.

 

Prudential FinancialPrudential Top 25 Best Life Insurance Companies

A.M. Best Rating: (A+)
Established: 1875
Headquarters: Newark, NJ

Prudential Best Underwriting Strengths:

  • Rates are based on actual age and not age nearest.
  • Highly competitive with many high risk health issues.
  • Possible Preferred consideration for prostate, testicular and thyroid cancer with good follow up and no other health issues.  
  • Possible Standard Plus consideration for asthma, bladder cancer, breast cancer, coronary artery disease, diabetes mellitus (adult onset), elevated liver function tests, hepatitis C, mood disorders and rheumatoid arthritis.
  • Cigar, pipe, tobacco chewers and dippers can qualify for non-smoker rates with admitted use.
  • Preferred consideration for type 2 diabetics age of 60+. Type 2 diabetics must be well controlled with no other health complications.
  • E-cigarette users can qualify for non-smoker rates with admitted use.
  • Highly competitive height and weight charts for both men and women.

Prudential Best Policy Features:

  • Living Needs Benefit Rider comes free with both term and permanent coverage.
  • Term Elite offers a conversion credit towards a permanent policy.
  • 15 year return of premium term option.
  • Term coverage specifically designed to last to age 65 (retirement age).

Brief history of Prudential Financial

Prudential Financial also known as “The Rock, Pruco and Pru” is a company that is a favorite by both life insurance agents as well as consumers. The company’s long history dates back to 1875 when it was founded by insurance agent and former U.S. Senator, John F. Dryden.

Prudential began as one of the first U.S. life insurance companies to offer affordable burial insurance to the working class people. Company success would come fast expanding services outside of New Jersey and into bordering states. Within the first year of business Prudential issued 5,000 policies, with its one-millionth policy issued just ten years later.

140 years later and Prudential still continues to provide excellent life insurance coverage to people across the entire world. As of 2016, Prudential reports a total of 1.268 trillion in assets under management with a total of 3.5 trillion of gross life insurance in force worldwide. Prudential is considered to be the 2nd largest life insurer in the United States.

Term Elite & Term Essential Term Life Insurance

Term Lengths: 10, 15, 20, 30 Years
Minimum Death Benefit: $100,000
Issue Ages: 18-75
Convertible to Permanent: Yes
Medical Exam Required: Yes

Prudential offers two types of traditional term life insurance coverage called Term Elite and Term Essential. The two available term options are nearly identical, as they both offer the same term lengths, policy riders and ability to convert to permanent life insurance.

How they are different is in the way you can convert the life insurance, should you decide to do so. Term Elite comes with a conversion credit of 12 months of paid premium payments that will credit towards anyone of Prudential’s permanent life insurance if converted within the first five years. The second difference is overall cost. Term Essential is priced cheaper than Term Elite as it does not offer a conversion credit if coverage is converted to permanent life insurance.

In addition to Term Elite and Term Essential, Prudential also offers a return of premium option as well as the term life insurance coverage called Work Life 65.

When you purchase traditional term coverage you generally chose a term length. With Work Life 65 the coverage is guaranteed to have a fixed premium to last to age 65. Work Life 65 is designed specifically to be term life insurance for your working years.    

Work Life 65 has a built in premium payment waiver that will waive any premium payments if you become unemployed anytime after the first policy year and as long as you’re unemployed for 60 days receiving unemployment.

One of the best features that come free with all Prudential term life policies is the Living Needs Benefit rider. This rider advances a portion of the death benefit if you become terminally ill or are permanently confined to a nursing home.

Return of Premium

Term Lengths: 15, 20, 30 Years
Minimum Death Benefit: $100,000
Issue Ages: 18-65
Convertible to Permanent: Yes
Medical Exam Required: Yes

PruTerm Work Life 65

Term Lengths: 15, 20, 30 Years
Minimum Death Benefit: $100,000
Issue Ages: 25-55
Convertible to Permanent: Yes
Medical Exam Required: Yes

Prudential Permanent Life Insurance

Duration of Coverage: Age 121
Minimum Death Benefit: $100,000
Issue Ages: 0-85
Medical Exam Required: Yes

PruLife Universal Protector is Prudential’s fixed premium universal life insurance coverage. Protector has a lifetime no-lapse feature that protects the life insurance coverage from lapsing and guarantees the death benefit to age 121.

The Living Needs Benefit rider also comes free with the Universal Protector. In addition to having the Living Needs Benefit rider, you can enhance the life insurance coverage further by adding Prudential’s BenefitAccess rider.

The BenefitAccess Rider is an optional policy rider that can be added to Universal Protector to provide an advancement of up to 100% of the death benefit due to a qualifying chronic or terminal illness.  The money drawn from the policy’s death benefit can be used in anyway you want and can be useful for paying bills, long term care, home modifications, in home skilled nursing, prescriptions etc.

Note: The BenefitAccess Rider supersedes The Living Needs Benefit Rider as they are not compatible together.

 

SagicorSagicor Life Top 25 Best Life Insurance Companies

A.M. Best Rating: (A-)
Established: 1840
Headquarters: Scottsdale, AZ

Sagicor Best Underwriting Strengths:

  • Sagicor is best for applicants with very little to no health history at all as underwriting is a bit tougher than other companies. Their no medical exam life insurance is designed for a quick approval. Approval is made based on answers to the medical questions, Motor Vehicle Report (MVR), prescription check and Medical Information Bureau (MIB) check. Based on the underwriting results, either an approval or decline will be made. Medical records will not be ordered.   

Sagicor Best Policy Features:

  • Rates are based on actual age and not age nearest.
  • Up to $500,000 of term life insurance without a medical exam.
  • Up to $400,000 of permanent universal life insurance without a medical exam.
  • Living benefit riders on both term and permanent coverage.
  • A perfect choice for life insurance for bank loan or collateral assignment.
  • Easy online application process with approval in as little as 15 minutes for some cases.

Brief History of Sagicor Life Insurance

Established in 1840 as Barbados Mutual Life Assurance Society, now Sagicor Financial Corporation is one of the longest running insurance companies in the Americas. Sagicor began by offering life insurance coverage to citizens in Barbados. In a short period of time the company expanded into several Caribbean Islands and eventually offering services to countries such as Norway, Japan, Argentina and the United States.

Sagicor currently operates in 22 countries mainly located in the Latin America, the Caribbean and the United States. Within the U.S. Sagicor offers life insurance coverage in 45 U.S. states including the District of Columbia. As of 2016 Sagicor ranks among the top 142 U.S. life insurance companies with over $1,193 million in assets.  

Sage Term Life Insurance

Term Lengths: 10, 15 & 20 Years
Minimum Death Benefit: $50,000
Issue Ages: 18-65 (No Medical) 66-75 (Full Underwriting)
Convertible to Permanent: Yes
Medical Exam Required: No (Ages 18-65) Yes (Ages 66-75)

Sage Term is the name of Sagicor’s affordable term life insurance coverage that is available in term lengths of 10, 15 and 20 years.  What sets Sagicor’s Sage Term apart from the most term coverage is their no medical exam underwriting. Sage Term offers simplified underwriting when applying for coverage less than $500,000. In addition to being able to get up to $500,000 without an exam, you can qualify for Preferred rates.

Sage Term also comes with a free accelerated benefit rider that can provide a portion of the policy death benefit if diagnosed with a terminal illness or permanently confined to a nursing home.

Another benefit when applying for Sage Term life insurance is Sagicor’s quick application and underwriting process. The entire application can be done over the phone with an agent using Sagicor’s eApplication process. Once the eApplication has been completed, approval can be made in as little as 15 minutes.

Sage No Lapse UL Permanent Life Insurance 

Duration of Coverage: Age 120
Minimum Death Benefit: $25,000
Issue Ages: 18-65 (No Medical) 66-85 (Full Underwriting)
Medical Exam Required: No (Ages 18-65) Yes (Ages 66-85)

Sage No Lapse Universal Life Insurance (NLUL) is Sagicor’s permanent life insurance coverage. Sage NLUL offers a guaranteed fixed premium and death benefit to age 120.

Sage NLUL does not require a medical exam if applying for coverage less than $400,000 which is a feature not often seen on permanent life insurance coverage. In addition to non-medical underwriting, the application is the same as the term coverage making the entire application process very quick.

Sage NLUL comes free with accelerated benefit rider that advances a portion of the death benefit if you are diagnosed with a qualifying terminal or chronic illness.

 

SBLI (Savings Bank Life Insurance)

A.M. Best Rating: (A)SBLI Top 25 Best Life Insurance Companies
Established: 1907
Headquarters: Woburn, MA

SBLI’s Best Strengths:

You can get up to $500,000 of term coverage with SBLI via their fast and convenient application process. They offer insurance without an invasive in-home visit regardless of the risk classification you may qualify for.  SBLI’s term product is fully underwritten and offers quick approval times and rates that are competitive.

SBLI’s Accelerated Underwriting Term Insurance Features:

  1. Your age is between 18-60.
  2. Coverage amount is between $100,000 (minimum) – $500,000 (maximum).
  3. Term rate guarantee periods available – 10, 15, 20, 25, and 30 years.
  4. Simple application process with a telephone interview for ALL underwriting classes.
  5. SBLI’s new underwriting process is available in all states except New York and Montana.
  6. Typically issued faster than other fully underwritten term life insurance.
  7. SBLI offers both an electronic or paper application.

Note: Traditional Underwriting process is required for coverage over $500,000 and for ages 61+.

Boston lawyer and Supreme Court Justice Louis Brandeis founded SBLI in 1907 with the main goal of providing affordable low cost life insurance coverage for families. 1907 was a tough time for many Americans as the U.S. was facing a down economy and a stock market crash. To make matters worse, life insurance rates had been inflated making it hard for many families to afford purchasing coverage.

In order to provide an affordable solution for families to purchase life insurance coverage, Justice Brandeis would create the savings banks life insurance system. Saving banks located in Massachusetts would be a place that people could go to purchase low cost affordable life insurance coverage for their family.  

A century later and SBLI is still providing affordable life insurance coverage to families as well as to businesses. To this day you can find SBLI life insurance coverage offered through independent agencies such as Top Quote Life Insurance.

SBLI Term Life Insurance 

Term Lengths: 10, 15, 20, 25 & 30 Years
Minimum Death Benefit:
$100,000
Maximum Death Benefit:
$30,000,000
Issue Ages:
18-74
Convertible to Permanent:
Yes
Medical Exam Required:
Yes (Coverage less than $500,000 may qualify for accelerated underwriting)

SBLI’s term life insurance coverage is the hot life insurance coverage of 2016. Their term life insurance is priced very well and May of this year SBLI announce their accelerated underwriting. Coverage is available in 10, 15, 20, 25 & 30 years.

The entire application process is designed to be quick with approval in as little as a week. SBLI offers both an electronic or paper application. In addition to the application you will be required to do a telemed interview with a representative of SBLI.

 

SymetraSymetra Top 25 Best Life Insurance Companies

A.M. Best Rating: (A)
Established: 1957
Headquarters: Bellevue, WA

Symetra Best Underwriting Strengths:

  • GoodLife Rewards underwriting program helps achieve the best possible underwriting class for certain health conditions, if living and maintaining a healthy lifestyle. (Only used on permanent coverage)
  • Possible Preferred consideration for applicants with well controlled diabetes type 2 over the age of 60.
  • Competitive underwriting for low grade prostate and breast cancer as well as asthma, sleep apnea and elevated liver function tests.

Symetra Best Policy Features:

  • Chronic Illness Plus rider can be added to permanent coverage paying up to 100% of the death benefit for a qualifying illness.
  • Return of premium option can be added to permanent coverage, paying out up to 100% of all refunds if coverage is surrendered at policy year 20 or 25.
  • Term conversion option goes up to age 75.
  • Often a top 2 company for permanent coverage for ages 50-75.

Brief History of Symetra

Founded in 1957 Symetra was originally a subsidiary of the insurance company known as Safeco Life & Investments. In just a short period of time Symetra’s growth and expansion as a company has taken off making them a top competitor with companies that have been around much longer.   

Symetra currently has a reported $40.1 billion is assets as of 2016. The company ranks in the top 40 U.S. life insurance companies based on total assets. In addition to offering life insurance products, Symetra is a top competitor in fixed annuities and employee benefit coverage.

In 2016 Symetra joined Sumitomo Life making them a wholly owned subsidiary company of the largest insurer of Japan. Together, Sumitomo Life and Symetra have total assets of over $280 billion.

Symetra Term Life Insurance

Term Lengths: 10, 15, 20 & 30 years
Minimum Death Benefit: $100,000
Issue Ages: 20-80
Convertible to Permanent: Yes
Medical Exam Required: Yes

Symetra offers a basic term life insurance that comes in plans of 10, 15, 20 or 30 years. Their coverage is competitively priced amongst the other life insurance companies.

Symetra’s term life insurance coverage comes with a free accelerated death benefit rider that will advance up to 75% of the death benefit if diagnosed with a terminal illness.

Optional riders include, children term rider, waiver of premium rider, accidental death benefit rider and additional term rider.

Symetra offers a conversion option that allows the term policy to be converted into permanent coverage at the end of the term length.

Symetra UL-G Permanent Life Insurance

Duration of Coverage: Lifetime or Customizable
Minimum Death Benefit: $50,000
Issue Ages: 16-85
Medical Exam Required: Yes

Symetra offers flexible premium universal life insurance coverage by the name of UL-G. This coverage is designed to be permanent fixed premium life insurance coverage, but can also be customizable to last for a specific duration.

Symetra takes a unique approach on underwriting with their GoodLife Rewards program. The GoodLife Rewards program is a great feature for anyone with minor health issues that would normally disqualify them for qualifying for a better health classification that can result in lower premiums. The program gives credits to possibly bump you up to the next health classification for living a healthy lifestyle and staying in good health.

Included with the UL-G life insurance coverage is a Chronic and Terminal Illness rider that can advance a portion of the policy’s death benefit. An optional rider available at an additional cost is the Chronic Illness Plus rider. The basic free chronic illness rider can advance up to 50% of the death benefit whereas the Chronic Plus can advance up to 100% of the death benefit.

UL-G also features the Return of Premium (ROP) Rider that will refund 100% of the premiums paid for the life insurance coverage if the policy is surrendered at policy year 20 or policy year 25. The Return of Premium Rider is an optional rider that is available at an additional cost.

 

Transamerica Life Insurance Company

A.M. Best Rating: (A+)Transamerica Top 25 Best Life Insurance Companies
Established: 1904
Headquarters: Cedar Rapids, IA

Transamerica Best Underwriting Strengths:

  • Highly competitive with asthma and hypertension.
  • Preferred consideration for non-melanoma skin cancers, thyroid, breast, testicular, endometrial and cervical cancer, benign but aggressive tumors, prostate colon, bladder and renal cancer. Must be cancer free 10 years and must have been treated surgically with no radiation or chemotherapy.
  • Family history of certain gender specific cancers may not prevent opposite sex of getting top health class.
  • Family history of cardiac or cancers will not apply to applicant age 65+
  • Commercial and private pilots can qualify for Preferred rates.
  • Life insurance coverage for professional athletes (NBA, NFL, MLB and NHL).
  • Dedicated international underwriting team for non-U.S. life insurance cases.

Transamerica Best Policy Features:

  • Fully designed living benefits term life insurance coverage that comes with built in critical, chronic and terminal illness riders.
  • TOP program designed for additional coverage to be purchased without a medical exam if a policy was purchased with Transamerica or another company within the last 3-5 year.
  • Conversion coverage comes with a built in return of premium feature if you decide to cancel the insurance coverage at policy 15, 20 or anytime after year 25.
  • Up to age 58 can qualify for a 30 year term policy.

Brief History of Transamerica Life Insurance Company

Transamerica dates back to 1904 when Amadeo Giannini founded the company Bank of Italy in San Francisco California. Giannini’s goal was to make financial services available to not just the wealthy but to everyone regardless of their financial status. In 1906 after the San Francisco earthquake Giannini would make his goal a reality but providing residents with funds to help rebuild after the disaster caused by the earthquake.

By 1928 Giannini’s Bank of Italy merged with Bank of America which acquired Occidental Life Insurance through Transamerica Corporation just two years later in 1930. By 1956 the banking and life insurance sides split taking on the Transamerica name.

Throughout 1960 to 1980 Transamerica would have creativity and acquisitions in life insurance, financial services, airline, motion picture and even transportation?

During the 1980’s Transamerica turned its main focus to the core of their business, which was their financial and insurance products. This ultimately led to Transamerica becoming part of Aegon, one of the largest financial companies in the world.

As of today Transamerica and its parent company operates in over 20 markets worldwide. The life insurance side of the business has a total of over $126 million in assets with $1,068 billion of life insurance in force.

Trendsetter Super & Living Benefits Term Life Insurance

Trendsetter Super

Term Lengths: 10, 15, 20 & 30 years
Minimum Death Benefit: $25,000
Issue Ages: 18-80
Convertible to Permanent: Yes
Medical Exam Required: Yes (No if applying for $99,999 or less ages 18-60)

Trendsetter Living Benefits

Term Lengths: 10, 15, 20 & 30 years
Minimum Death Benefit: $25,000
Maximum Death Benefit: $2,000,000
Issue Ages: 18-80
Convertible to Permanent: Yes
Medical Exam Required: Yes (No if applying for $249,999 or less ages 18-60)

Transamerica offers two types of term life insurance coverage with their Trendsetter product line. Trendsetter Super is their traditional term coverage that is available in term lengths of 10, 15, 20, 25 and 30 year. Trendsetter Super is convertible to permanent coverage be needed after the term contract expires.

Trendsetter Living Benefits is Transamerica’s second term life insurance coverage. Trendsetter Living Benefits offers all the same features as Trendsetter Super but much more.

Trendsetter Living Benefit has three built in accelerated death benefit riders know as living benefits. These living benefits provide the ability to advance the death benefit for cash in the event of a qualifying terminal, chronic or critical illness.

Trendsetter Living Benefits comes in a no medical exam option if you require less than $249,999. It also has a low minimum death benefit of $25,000, which is not commonly available with most term coverage. The maximum death benefit available with Trendsetter Living Benefits is $2,000,000.

In addition to the living benefits that come free with the life insurance coverage, you also have the option to purchase the monthly disability income rider. The monthly disability income rider can provide a monthly payout for a qualifying disability.

 

Voya FinancialVoya Financial Top 25 Best Life Insurance Companies

A.M. Best Rating: (A)
Established: 2013
Headquarters: New York, NY

Voya Financial Best Underwriting Strengths:

  • Unisex height and weight chart.
  • Possible Preferred consideration for applicants with well controlled type 2 diabetes over the age of 60.
  • Applicants with high cholesterol levels up to 300 can still qualify for the Preferred health class.
  • Family history of cancer will not affect consideration for Preferred rates.

Voya Financial Best Policy Features:

  • Up to $500,000 of term life insurance without a medical exam. Can qualify for Preferred Plus rates.
  • Short application along with simple telephone interview (Telemed).

Brief History of Voya Financial

Although Voya itself has only been around since 2013, it is associated with companies dating as far back as the mid 1800’s. VOYA is the rebranded name of the life insurance company many have come to know as ING.  

ING in itself started in 1991 and was formed by a merger of between Nationale-Nederlanden and NMB Postbank Group two very large insures based out of the Netherlands. After the merger and official naming of ING, came several large acquisitions of insurance companies both international and in the U.S.

ING continued to grow as one of the largest insurance and financial companies offering their services worldwide. In 2013, ING had gone through the initial stages of rebranding the company as Voya Financial.  Voya Financial is an American financial, retirement and investment company. Voya Financial would initially begin as ING until 2014 when the entire ING brand was changed to Voya Financial.

Voya Financial is currently ranked #252 on the 2016 Fortune 500 list. They currently serve 13 million customers with a reported $466 billion in assets under management.  

Term Smart & Return of Premium Term Life Insurance

Voya TermSmart

Term Lengths: 10, 15 & 20 years
Minimum Death Benefit: $100,000
Issue Ages: 18-80
Convertible to Permanent: Yes
Medical Exam Required: Yes

Voya ROP Endowment Term

Term Lengths: 20, 25 & 30 years
Minimum Death Benefit: $100,000
Issue Ages: 18-60
Convertible to Permanent: Yes
Medical Exam Required: Yes

TermSmart is the name of Voya Financial’s term life insurance coverage. TermSmart is available in competitive fixed premium contract lengths of 10, 15 or 20 years. Coverage is fully convertible to Voya’s cash value universal life insurance coverage if insurance needs change at a later time.

In addition to the basic term life insurance coverage, Voya also offers a return of premium coverage called Voya ROP Endowment Term. This is a term life insurance policy that builds up cash value that you can borrow from if needed. At the end of the contract length of 20, 25 or 30 years, 100% of the premiums paid into the life insurance will be returned to you tax free. This is what many would call “get your money back life insurance”.

 

Recap of Top 25 Best Life Insurance Companies

Life Insurance CompanyA.M. Best RatingNo Medical Exam Option
AIGANo
ANICOAYes
AssurityA-Yes
Banner LifeA+Yes
Cincinnati LifeANo
FidelityA-Yes
ForestersAYes
Gerber LifeAYes
John HancockA+Yes
Lincoln FinancialA+Yes
MetLifeA+No
Midland NationalA+No
Minnesota LifeA+Yes
Mutual of OmahaA+Yes
NationwideA+No
North American CoA+No
Pacific LifeA+Yes
PrincipalA+Yes
ProtectiveA+No
PrudentialA+No
SagicorA-Yes
SBLIA+Yes
SymetraANo
TransamericaA+Yes
VOYAANo
Compare Rates from the Top 25 Best Life Insurance Companies

 

Frequently Asked Life Insurance Questions

What is term life insurance?

Term life insurance is temporary coverage that offers protection in fixed premium lengths of 10, 15, 20, 25 or 30 years.

Once approved, the life insurance rate will remain the same price until the end of the term length. After the term length you may have the option to continue coverage but at higher rates.

Term life insurance is the most affordable life insurance coverage compared to universal life insurance and whole life insurance.

Instantly compare the nations top term life insurance companies.

 

What is universal life insurance?

Universal life insurance, also known as guaranteed universal life (GUL) is permanent life insurance coverage. Once approved, the life insurance rate will remain the same price to age 121, guaranteed never to change. Compared to whole life insurance, universal life insurance is the cheaper of the two.

For more information on guaranteed universal life please refer to our permanent life insurance page.

 

What is return of premium life insurance?

Return of premium life insurance, short for (ROP) is the same as regular term life insurance policy but at the end of the contract the life insurance company will write a check for a full refund of all premiums paid into the policy.

ROP life insurance generally only comes in term lengths of only 15, 20 or 30 years and will cost more than a regular term policy.

Please be sure to refer to our Return of Premium Term Life Insurance page for additional information. 

 

Should I go with a no medical exam life insurance policy?

No medical exam life insurance is designed to be a quick and convenient way to apply for life insurance coverage. Approval is generally made within a few days and in some cases as little as 15 minutes!  

The life insurance coverage is no different from that of a applying for a traditional life insurance policy other than the fact you are bypassing the entire exam portion.

With that said you might be thinking why should I even take the medical exam then?

Non-medical exam life insurance policies have their drawbacks. Coverage is often more expensive then if you were to take a medical exam.

Underwriting tends to be a bit stricter and it’s easier to be declined for medical conditions that may have been accepted if you were to take a medical exam.

Death benefits are usually limited to $500,000 with a few companies offering up to $1,000,000.

No medical exam life insurance can be great life insurance coverage for people who live busy lives, have a fear of needles, need coverage quickly or simply wish not have to take a medical exam.

Be sure to check out our Best Instant Approval No Exam Life Insurance for fast coverage.

 

Which term length should I choose?

As we touched on earlier in this article, term life insurance comes in contract lengths of 10, 15, 20, 25 and 30 years. When choosing on a term length you need to consider why you are purchasing the coverage in the first place.

Are you buying coverage to provide income to your family? Do you have young children? How about a mortgage or other debts?

When picking a term length you want to make sure that the life insurance coverage will last long enough to meet its objective for purchasing it in the first place.

One thing we at Top Quote Life Insurance can’t stress enough is to not buy based on price!

A shorter-term length will always cost less than a longer-term length so it’s easy to get caught up in buying price over need. Buying a shorter-term policy because it was the cheaper option can lead to problems when it’s time to renew.

Purchase a term length based on need not price.

 

How much life insurance coverage should I purchase?

Purchasing a coverage amount is very similar to choosing a term length. The main objective of the death benefit is to provide income to the beneficiary.

When determining the right amount of death benefit protection, think of your annual salary, recurring bills, debts, medical expenses, education expenses for children, available retirement funds and burial costs.

*When determining a death benefit amount, most insurance experts say to start by multiplying your annual income by 10 and then work from there.  

 

What’s the best life insurance coverage, term insurance or permanent insurance?

The best life insurance coverage is the life insurance coverage that is active when you pass away. Choosing between a term and permanent life insurance policy will depend on how long your overall life insurance needs will last.

The great thing about permanent life insurance is that it will always be there. Once your purchase it, the price will never change and you will never find yourself ever having to go through the renewal process again.

The downside is that permanent life insurance can cost 5-7 times the cost of term insurance.

Term insurance on the other hand is very affordable, much cheaper than permanent life insurance and meets most people’s life insurance needs. The majority of people that buy life insurance coverage buy it for family protection.

Coverage is usually only needed during the family’s working years while income needs are much higher. This is why term life insurance often makes the most sense when it boils down to what coverage is better.

Another great option is a combination of both. Term insurance can provide coverage for needs that are temporary but large. A smaller permanent policy can provide coverage for final expenses that may be present when the term coverage runs out.  

 

Does life insurance pay if I die within the first 2 years?

Yes, most life insurance coverage will pay from day one in the uneventful event of a sudden passing. However, all life insurance coverage has what’s called a 2 year contestability period.

What this means is that if you were to pass away during the first 2 years of purchasing the life insurance converge, the life insurance company can re-open your file and investigate your claim to make sure you didn’t lie about anything on the application.

It’s not often that a life insurance company will need to contest a claim, but it can happen. If a claim is contested, it’s generally due to a sudden death shortly after receiving a policy.

Most contested claims are due to deaths resulting from a medical issue during the first two years of receiving the life insurance policy. Even then, you will have had to of lied on your application or medical exam about your health in order for the life insurance claim to be denied.

If a life insurance claim is contested in the first 2 policy years, the life insurance company can request to review your medical records, request an autopsy report and ask for statements from both the agent, friends or family members to help aid in their investigation.

The 2 year contestability period should not frighten you when purchasing life insurance coverage, even if you were to pass away due to medical reasons. As long as you’re honest and disclose all information about your health and any other activities that can pose a risk, the life insurance company will underwrite you accordingly so there is not an issue when and if a claim arises.

NOTE: Be aware of life insurance called guaranteed issue or guaranteed acceptance. These types of policies will only pay the full death benefit after policy year 2. If death happens during the first two years, generally the only money received is a refund of what you paid into the coverage.

SUICIDE: Almost every life insurance company will have a two year suicide clause meaning they will not pay out a death benefit claim if death was a result of suicide within the first 2 years.

 

Should I pick the cheapest life insurance company from the online quoter?

If you received your life insurance quote online from Top Quote Life Insurance and do not have any medical issues and are simply looking for cheapest life insurance company then yes go for it.

The quoter located on our website will provide you with results from the best life insurance rates from only the top life insurance companies so there is no bad choice.

However, if you’re looking for coverage that offers more than just death benefit protection such as a policy with living benefits or non medical underwriting, the cheapest company may not always be the best company as that type of coverage is not offered by all companies.

If you have medical issues or any other underwriting concern, then picking the cheapest life insurance company may not be the best choice as well. Life insurance that requires special attention due to medical conditions or other underwriting concerns will require the assistance of an experience life insurance agent.

This is when we highly advise you to call us so we can work with you on getting the best rate based on your situation.

 

Helping you find the perfect life insurance coverage

We hope that our Top 25 Best Life Insurance Companies review has provided a starting point to choosing the perfect life insurance coverage. Our instant online quote form will provide you an ideal of the possible cost for life insurance coverage but we urge you reach out to us for assistance on help you get the best life insurance policy.

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Top 25 Best Life Insurance Companies by Jeffrey Manola

2017-09-21T13:43:32+00:00

About the Author:

Jeffrey Manola is the owner and an experienced life insurance agent at Top Quote Life Insurance.

His goal is to provide online consumers with the absolute top quotes for all term life insurance, permanent life insurance and no medical exam life insurance. Not only does he strive to provide you with the best premium for your life insurance coverage, he also wants you to be well informed about life insurance coverage options and its importance.

Never hesitate to reach out to Jeffrey if you need help. Top Quote Life Insurance is more than just an online quoting agency we want to help you save money, protect your future, and earn your trust (888) 777-7574.