If you are shopping for term life insurance, you might be overwhelmed by all of the companies and options that are out there. With so many choices, it can be tough to make the best decision for you.
First, you should know that not all life insurance providers are created equally. Some offer more reasonable quotes than others, and others provide better policies for their customers.
You also have to think about things like your personal health and how it will affect your decision to purchase life insurance. For example, some life insurance providers ask a lot of health questions, while others offer no exam required policies. If your health is good, you may want to look for a provider that does require a health exam so that you can qualify for lower rates. Older seniors and those who have health conditions often get better prices when they shop with providers that determine their rates by age.
We have been working with some of the top-rated whole, universal, 20 year term and 30 year term providers for years, so we know which companies are the top-rated in the business. Consider the perks of each of these providers, and you should be able to find the right policy for you.
Banner Life Insurance
- Chartered in 1949
- Holds an “A+” financial strength rating
- Licensed to provide coverage to customers in every state other than New York
- As of the end of 2013, had $87 billion in life insurance policies in force
- Offers universal and term options
- Offers some of the lowest rates in the business but does require a health questionnaire
AIG Life Insurance
- Has been in the business since 1919
- Boasts an “A” financial strength rating
- Brought in $64.4 billion in 2013
- Offers coverage both with and without a health exam
- Guaranteed coverage is available through age 80
Assurity Life Insurance
- Has been in the business for 125 years
- Has a financial stability rating of “A-“
- Offers cheap coverage options for both seniors and adults
- Boasts both fully-underwritten and streamlined application policy options, making Assurity a great choice for those who aren’t in the best of health and who don’t want to submit to an exam or a lot of questions
Fidelity Life Insurance
- Fidelity Life Insurance Company has been in the business for a long time; it was founded in 1896.
- Offers services to customers in most states, except for New York and Wyoming
- Has over $24 billion in life insurance policies in force right now
- Has an “A-” rating in regards to its financial strength
- As of 2012, Fidelity Life Insurance had $441 million in assets
- Offers competitive pricing that is a perfect match for adults between the ages of 50 and 85
- Is well known in the business for offering term insurance with no medical exam requirement
- Was initially established in 1977, but became Voya in 2014
- Offers coverage throughout the country, including New York, unlike many providers
- Has a financial strength rating of “A”
- Serves 13 million customers in the United States
- Offers some options that do not require a health exam or health questions
- Offers various term policies, including one that allows you to get your premiums back if you outlive your coverage. Also offers other coverage options with various rate charts and levels of coverage
- Once known as Monumental Life Insurance, TransAmerica changed its name after 100 years in the business
- Serves 19.5 million customers
- Has an “A” rating in regards to financial strength
- Offers a host of different products, including whole and term options.
- Offers affordable mortgage and other forms of insurance
- Offers simplified plans, does require some medical questions. Most policies require a health exam.
As you can probably see, these are some of the top-rated providers in the business for a reason. With a simple online search, you can find out which provider has the top and most affordable options for you. Regardless, there is no reason to hesitate when you can work with these great providers to secure coverage.