Best Life Insurance Companies

Posted in Insurance Companies
Last updated June 24, 2019

We work with more than 60 insurance companies and sell thousands of policies a year. So, we notice when a given company is offering lower rates, better products, or faster approvals. We also know which companies consistently offer the best rates for people with specific needs, and which ones provide the best customer service.

Best Insurance Companies by Category

Best of:
Overall Choice

Our review:

Mutual of Omaha has competitive products in every category. Their standard term product is well priced, and they also offer an instant approval no medical exam policy that includes free-living benefits. They also have the best final expense product. Their accidental death policy offers the highest coverage. And, they have a great children’s policy. Plus, they have the best customer service in the industry.
Best of:
Financial Strength

Our review:

AIG is the world’s largest insurer. Their term products are among the best priced in the market, and they have a 40-year term option. The applications are long and it takes 4-8 weeks to get approved, but AIG is one of the best insurers for high-risk applicants. Their guaranteed acceptance product is the best on the market. With AIG, you can be confident that you’re covered by a financially strong company.
Best of:
Application Process

Our review:

Fidelity has a great instant issue no medical exam policy, which is best suited for people with average health. They also offer two great final expense products. Their applications are the easiest and Fidelity does not check financial or credit history reports, so it takes about 10 minutes to get approved. Fidelity is also a strong company financially. We wish all companies had an application process like Fidelity’s.
Best of:
Service & Reputation

Our review:

Lincoln has a long history and a full portfolio of products in the insurance and financial industries. Their term product is one of the lowest priced, and they offer an accelerated no medical exam option for policies under $1 million in coverage. They offer great universal life and annuity products and have full-service financial planning. We focus on their insurance products, of course, and have found their customer service to be exceptional.
Best of:
Most Affordable

Our review:

Banner products have incredible pricing. Their term product has a no exam option for the healthiest applicants. They also have excellent universal life policies and are great for people with poor health. Applications are taken by phone (in about an hour) and the whole approval process can take 6-12 weeks. Customer service is hit or miss. They don’t talk to agents, which is frustrating for us. While the application process can be tedious, you can end up with a great deal on a policy.
Best of:
Products & Features

Our review:

Protective offers a unique term product that's a hybrid of a term and universal life policy. The policy gives you the option to extend it past the original term. It's a well-priced product and a good fit for many people. Applications are taken during a 30-minute phone call with a Protective representative. With an average approval time of 2-3 weeks, Protective is quicker than most companies that require an exam.
Best of:
Approval Time

Our review:

Foresters has an excellent instant issue no medical exam product. Since they do not check financial and credit history, we see approvals either instantly or within 24 hours. The product is good for healthy people as well as those with below-average health. When issues arise, Foresters is quick to respond. Foresters is a strong company, and customers are happy at the end of the process.

The top 10 life insurance companies

The companies that we think are the very best are contained in our top 10 companies list. The company that is the right fit you depends on your situation and the current statuses of the individual company. The company that will offer you the best policy is most likely to be on our top 10 list.

This list is based on our extensive rating table where we rate companies based on various factors.

  1. Mutual of Omaha
  2. Foresters Financial
  3. Protective Life
  4. Sagicor
  5. Assurity
  6. Lincoln Financial
  7. American National
  8. TransAmerica
  9. AIG American General
  10. Fidelity Life

How do I know which company is best for me?

The best company for you depends on your needs and circumstances, but something you might not know is that the best life insurance carrier for you can change from month to month. For example, there might be times when a company is extra lenient with its approval process in order to fill a quota. Then, once the company reaches its quota, it reverts to the stricter guidelines that are usually in place. Because we work with more than 60 companies, we see this happen at least monthly. Our experience and the scope of information we have access to help us find the best deal for you — a great policy at a price that might not normally be available.

How do I know which plan is best for me?

Products vary from one insurance company to the next, and companies are always updating their prices, product features, and health guidelines. Insurance companies have quotas to fill and some also have shareholders to satisfy.

That’s what makes it wise to work with a company like True Blue Life Insurance. We know life insurance inside and out, and we promise to find you the best policy. On top of that, our services are free.

How do I find the best company?

Choosing the best life insurance product from a top company depends on many factors, such as your age, health, financial situation, the amount of coverage you need, and the purpose of the insurance.

We provide many tools for you to research the different companies and their products. Our health questionnaire aggregates the application questions from every company and how they affect pricing. When you take the questionnaire, we can average a 95% accuracy rate in matching you with the best policy.

Does it matter what policy I choose?

Choosing a policy is not something to be taken lightly. Policies are contracts that last decades and can be vitally important to our loved ones. The application and approval process can be really quick, but the decision process isn’t something to hurry through. Take the time to contact us, so that we can ensure you’ll get the best policy from the best life insurance company.

What happens after I select a company?

After you select a company, our agents will complete the application for you and make sure you’ve chosen the best company. The majority of our agents are members of The Million Dollar Round Table, a designation awarded to the top 1% of financial advisors worldwide.

Best life insurance company rankings

We ranked over 40 companies to determine the best companies. You can see how we rated each company below.

RankingCompanyFinancial StrengthProcessCustomer ServicePrice (based on rates)Products & FeaturesApproval TimeTotal
(out of 60)
1.
Mutual of Omaha Life Insurance Company

101010810957
2.
Independent Order of Forester Life Insurance Company
10910891056
3.
Protective Life Insurance Company
10891010855
4.
Sagicor Life Insurance Company

8109981054
5.
American National Life Insurance Company

999109854
6.
Lincoln National Life Insurance Company

10910108754
7.
American Life Insurance Company of TX

98999852
8.
Transamerica Life Insurance Company


108989751
9.
AIG American General Life Insurance Company
1079109651
10.
Fidelity Life Insurance Company
8108871051
11.
John Hancock Life Insurance Company

1071088851
12.
Pacific Life Insurance Company

1071088750
13.
Banner Life Insurance Company

1078108750
14.
Principal Life Insurance Company
98898850
15.Haven Life Insurance Company
1096871050
16.
Nassau Re Life Insurance Company

710788949
17.
Pruco/Prudential Life Insurance Company
107968747
18.
Gerber Life Insurance Company

910874547
19.
Savings Bank Life Insurance Co of MA

88788847
20.
Royal Neighbors of America Life Insurance Company
105978746
21.
MetLife Insurance Company
1051058644
22.
North American Life Insurance Company

97777643
23.
NY Life Insurance Company

1051058643
24.
Sentinel Security Life Insurance Company
77696742
25.
5 Star Life Insurance Company
88655941
30.
American Continental Aetna Life Insurance Company


108664741
31.
Prosperity Life Insurance Company

77686741
32.Northwestern Mutual Life Insurance Co of MA
1051047541
33.
Great Western Life Insurance Company

67477738
34.
United Home Life Insurance Company
67567738
35.American Life Insurance Company of TX
85656737
36.
Americo Life Insurance Company

76846637
37.
Colonial Pen Life Insurance Company
99423835
38.
Liberty Bankers Life Insurance Company
67565635
39.
Lifeshield National Life Insurance Company
55455731
40.
Columbian Life Insurance Company

65446530
41.
Surebridge Life Insurance Company
75443528
42.
Primerica Life Insurance Company

85334427

A word of warning:

It can be a bad idea to work with an agent that represents only one company. There’s a good chance that you’ll pay more, and you might not end up with the best product for your situation.

Also, beware of other online agencies that offer products from just a handful of companies. We won’t name names, but you should know that most online providers only represent companies that offer the highest commissions.

An independent agency like True Blue Life Insurance that’s “company agnostic” is the smart way to go. We’re not married to any one insurance company, and our goal is to get you the best product — regardless of the commission we earn. We’re in business to serve our customers. Take a look at our reputation and the reviews we’ve earned.