What Are The Best Life Insurance Companies Of 2018?

Are You Looking For The Best Term Life Insurance?

At True Blue Life Insurance, our job is to help you find the best coverage possible that meets your specific needs through the best life insurance companies on the market.

Our relationship with many of the top rated life insurance companies offers you the ability to choose the best product and pricing from only the best life insurance companies on the market. Because we are 100% independent, our list of companies change from time to time based on the best offerings to customers from life insurance companies.

The True Blue Top Ten Life Insurance Companies

Our #1 job is simple: To find the best company with the best insurance policy for the best price tailored to fit your individual need.

Every customer has a different history, different need, and different set of circumstances that makes each person we work with unique. Depending on your health and lifestyle, each company will examine the risk entailed in insuring a customer and approach the underwriting process different than the another. Our job is to get to know you and guide you through the myriad of options to find the policy that best suits your needs at the best possible price.

This is not a static list as companies tend to raise and lower rates from time to time, making each insurance company more competitive to another as the ratings change. Since we are an independent agency, our job is to constantly search the marketplace for the best coverage and best companies for our customers.

CompanyStrengths
1. SagicorFor no medical exam, low rates, conversion options, easy process
2. ForestersFor no medical exam, living benefits, easy process
3. ProtectiveFor low rates, conversion options, easy process
4. American NationalFor no medical exam, high risk, living benefits
5. Lincoln FinancialFor high risk, no medical exam, easy process
6. Mutual of OmahaFor overweight, no medical exam, easy process, living benefits
7. BannerFor low rates, high risk, conversion options
8. AIGFor guaranteed acceptance product, high risk, low rates
9. PhoenixFor no medical exam, easy process, living benefits
10. AssurityFor no medical exam option up to 1 million, low rates, strong accidental policy

Everything You Ever Wanted To Know About The Best Term Life Insurance Companies.

What Is Term Life Insurance?

Simply put, term like insurance is temporary protection that pays a death benefit during the course selected number of years. Advocated by both Suze Orman and Dave Ramsey, term insurance provides the most amount of protection for the least amount of cost (dollar for dollar) compared to other types of life insurance, largely due to the fact that it only covers for short period of time. Term life insurance is one of the simplest forms of life insurance on the market today with no extra bells and whistles.

What Life Insurance Company is Best for Me?

Each company has their own rules when it comes to underwriting and each one has a different way they calculate risk and premiums based on the individual’s own medical and financial standing, so there is no way anyone can say that one company is the “best” for everyone. The only way to figure out which one is best for you is having an intimate knowledge of how these insurance companies operate. At True Blue, we know these companies very well and we know which ones work best with whatever issues our customer’s have. We work with you to not only determine which companies are the best for you individually, but also which one makes the most sense from the financial perspective.

How Much Insurance Should I Buy?

Every person has their own individual need and there is no absolute answer that fits for everyone. Generally, you want to figure out the amount that will best suit the needs of your survivors in the event of your death. A good way to calculate this would be:

Current income x 5 + Current Debt (mortgage, credit cards, car payments, etc…)+ Estimated Funeral Expenses ($10,000k+) + Additional benefits to leave to survivors (college tuition, retirement for spouse, leftover medical expenses, etc…)

How Does The Application Process Work For Life Insurance?

The application process is different for different companies, but they usually follow the same type of flow for the type of policy being offered. For the non-medical exam policies, the process is quicker and less involved (often consisting of a phone interview and in most cases, a medical records check). For policies that require medical exams, expect to have a longer timeline as these types of insurance policies require a full medical exam and record review in addition to the phone interview.

The medical exams are usually quick and simple paramedical exams consisting of basic vitals (weight, blood pressure, and pulse), urinalysis, and blood work.

How Does Term Life Insurance Work?

When it comes to life insurance, term life insurance is one of the simplest and most affordable option available. Term life insurance covers you for a “term”, or a predetermined length of time, instead of your entire life and premium prices are lower because of this. These types of policies are great options for people who have a limited budget and can’t afford whole life type policies or for those looking to have additional coverage to protect loved ones from a the financial impact of their death.

Uncomplicated and affordable, term life insurance provides a great solution for almost every person’s need and True Blue Life Insurance is here to make the process as easy as possible.

Term Life Insurance Companies Comparison Chart

Questions
And Companies
Third-party RatingsAssets Under ManagementIs There a No Medical Exam Option?Underwriting Time FrameConversion to a Permanent Policy Options?

Standard & Poor’s: AAA
A.M. Best: A+ (Superior)
BBB: A+
11 billionNo14-30 daysYes. Good options.

Standard & Poor’s: A
A.M Best: A (Excellent)
BBB: A+
23.3 billionYes:
No medical exam options for coverage amounts below $250,000
7-14 daysYes. Very good options.

A.M. Best: A- (Excellent)
BBB: A+
2.4 billionYes:
No medical exam options for coverage amounts below $350,000
10-30 daysYes. Good options.

Standard & Poor’s: AA
A.M. Best: A+ (Superior)
Fitch: AA- (Very Strong)
BBB: A+
618.5 billionNo14-30 daysYes. Good options.

Standard & Poor’s: AA-
A.M. Best: A+ (Superior)
Fitch: AA- (Very Strong)
BBB: B
504 billionNo14-30 daysYes. Good options.

Standard & Poor’s: A+
A.M. Best: A++(Superior)
BBB: A+
22 billionYes: No medical exam options for coverage amounts up to $500,0001 dayYes. Limited options.

Standard & Poor’s: B+
A.M. Best: B (Fair)
BBB: A+
4.5 billionYes:
No medical exam for coverage amounts below $500,000
5-21 daysYes. Good options.

Standard & Poor’s: AA-
A.M Best: A+ (Superior)
BBB: A+
143 billionNo14-30 daysYes. Very good options.

Standard & Poor’s: AA-
A.M. Best: A+ (Superior)
Moody’s: A1
Fitch: A+
1.184 trillionNo14-30 daysYes. Good options.

Standard & Poor’s: AA
A.M. Best: A+ (Superior)
BBB: A+
70.4 billionNo14-30 daysYes. Very good options.

A.M. Best: A- (Excellent)
BBB: A+
5.78 billionYes:
No medical exam options for coverage amounts below $400,000
1-10 days
Yes. Very good options.

Standard & Poor’s: A-
A.M. Best: A+ (Superior)
BBB: A+
2.8 billionYes. Telephone interview only up to $500,00014-35 daysYes

Standard & Poor’s: AA-
A.M. Best: A+ (Superior)
Moody’s: A1
Fitch: AA-
BBB: A+
76 billionYes:
No medical exam options for coverage amounts below $250,000
10-30 daysYes. Good options.

Standard & Poor’s: A+
A.M. Best: A+ (Superior)
BBB: A+
34.4 billionYes:
No medical exam options for coverage amounts below $250,000
10-30 daysYes. Good options.

A.M. Best: A- (Excellent)
BBB: A+
41.8 billionYes:
No medical exam for coverage amounts below $150,000
1 dayNo.
Not for the policy we sell.

Real Questions About Life Insurance

What are term life insurance quotes?

Term life insurance quotes are cost comparisons of 10, 15, 20, 25, and 30-year level policies from the top life insurance carriers.

What are life insurance quotes?

Life insurance quotes are a cost comparison of the premiums required to keep a life insurance policy in force/active. The main types of life insurance policies are term life insurance, universal life insurance, final expense life insurance, and guaranteed acceptance life insurance. Insurance premiums are affected by several factors, including the applicant’s age, health, requested coverage amount, and the length/years of coverage.

What is “Return of Premium” life insurance?

“Return of Premium” is a common feature in many term life insurance policies that provides a full or partial refund of the premium paid at the end of the coverage period if nothing was paid out on the policy during that time. Each company that offers a return of premium has their own rules regarding it and is typically looked at as a “rider” (an optional benefit add on to an insurance policy)in many cases. A term life insurance policy with the “return of premium” benefit will often be noticeably more expensive compared to term life insurance policies without the feature. A “return of premium” benefit may not be for everyone and worth discussing with a licensed agent.

What is the difference between term and whole life insurance?

The best way to understand the difference between term and whole life insurance is to look at it from the perspective of renting versus owning a home. With term life insurance, you are “renting” coverage temporarily, usually for a pre-determined length of time like 10, 20, or 30 years; however, a whole life policy is a policy you “own” for your whole life and is considered an asset. Much like owning a home versus renting one, often times the “renting” option allows for a cheaper overall cost compared to owning. Neither is option “better” than the other as it solely depends on the needs of the individual.

When should I buy a term life insurance policy?

Typically term insurance is a great solution if someone is needing temporary coverage or if the premiums of a whole life policy are too expensive at the time. Dollar for dollar, term life insurance provides the most face value coverage for the cost making it a very popular option for someone on a budget. If you are seeking protection to help pay for outstanding liabilities (i.e. loans, credit card debt, mortgages, car payments, etc…) or plan for the future family need of income or education at an affordable price, term life insurance makes for a great option.

What is the best company for term insurance?

Since each company has their own different way of doing things and given that “best” is subject to interpretation, the best company is the one that meets your needs in the most ideal way possible. Some companies have different rules for various health issues or personal behaviors and others are more competitive based on the niche of people they are focusing on. Price isn’t always the most important factor when shopping for insurance. This is a key reason why talking to an agent is vital, as they can better match you with companies that provide the highest quality product with the more affordable price possible.

Why aren’t companies like Allstate and State Farm listed here?

Companies like State Farm, Allstate, Farmers, USAA, and others can potentially offer good products; however, the agents that work for them are “exclusive” or “captive” agents and are not legally allowed to sell or recommend any insurance product that isn’t approved by the company they are contracted with. Independent agencies like True Blue are able to help customers find the best policies that meet their needs because they work with other insurance companies to find coverage that best fits the individual’s needs, rather than for an insurance company with a limited access to products.

How do I know which company is right for me?

The task of finding a suitable life insurance policy that best fits your needs is a daunting one. There are so many life insurance plans to choose from that the amount of options available can leave you unable to make a decision. This is where True Blue agents work their magic. As licensed and independent professionals, our team has the knowledge and experience to find the best choices for you and help answer your questions about these policies so that you feel confident and satisfied that your choice was the best one.

Can an insurance company cancel my term life insurance policy?

A term life insurance policy, once in force, can only be canceled for lack of payment of the premium. Changes in health status or occupation does not allow for the policy to be cancelled. However, if you purchase term insurance through an employer, union, or something similar then your coverage can be terminated at the time you are no longer eligible for benefits or no longer employed.

Can my premiums change with a term life insurance policy?

Possibly, depending on the type of term insurance policy you pick. This is why working with an independent agency like True Blue can answers these important questions before you buy. Term insurance is highly competitive when it comes to premiums, so it is extremely important to know details like this by talking with one of our agents.

How do I determine how good a life insurance company is?

Many customers look at two main areas when deciding which company to go with:

  • How good is their customer service?
  • What’s their reputation on paying death benefits in a timely manner?

Customer service is often key when it comes to having to deal with servicing your life insurance policy. Do they have good customer reviews online? Do they have easy access to get your questions answered by their support team? The key here is that you are entering a 10, 20, maybe even 30 year relationship with a company and you want to know their staff is there to take care of your needs.

Claims is another area. An insurance company is only as good as the manner and time frame in which they pay out claims. As a customer, you want to be sure your family is taken care of fully per the contact with the company. What good is paying cheap premiums if they never pay out in the event of your death?

Term Life Insurance Companies In Detail

Learn More About AIG American General

AIG’s American General is a great option for customer’s with various health conditions, especially for those with a history of diabetes or heart attack. AIG allows for a customization of the term, allowing customers to choose the length of time the policy is in effect for instead of the standard timeframes found inside the industry. One drawback is that the underwriting approval process can take as long as 3 months, so plan accordingly.

About AIG American General Life Insurance

American General Company is located in the heart of Milwaukee, Wisconsin, that “great city on a great lake” and situated “just down the road” from Lambeau Field, home of the legendary Green Bay Packers. An area rich with ethnic diversity, summer in the City of Festivals sees a different ethnic group hosting a festival almost every weekend. And of course, there’s the granddaddy of them all, Summerfest. The diversified economy of the Milwaukee metropolitan area is built on the firm foundation of the high tech, service and manufacturing industries. A wholly-owned subsidiary of the American General Corporation, one of the nation’s largest financial service organizations with over $93 billion in assets, American General Life’s conservative investment portfolio is make up largely of bonds, mortgage loans and short-term instruments.

Pros:

  • Competitive pricing for a variety of health conditions
  • Ability to customize the length of time the policy is in effect for
  • Minimum face amount is $50,000
  • Broad selection of riders to further customize the coverage
  • Electronic applications and many online features
  • Backed by a large, stable company
  • Easily convertible and great conversion options
  • Flexible underwriting

Cons:

  • Slower application process
  • Long telephone interview

Application Process:

  1. Submit your application with the help of a True Blue Life Insurance agent.
  2. Application will be processed with a medical examiner over the phone who will order a paramedical exam.
  3. The paramedical exam will include a detailed medical history, blood draw, urinalysis, and blood pressure check.
  4. Results of the exam are sent into underwriting and is reviewed alongside other requested information (as applicable).
  5. Determination is made based on submitted information and if approved, policy is sent via email.

Average Approval Time:

Since AIG has slower than average approval process, expect to wait 1-3 months for approval.

Learn More About American National Life Insurance Company

American National’s Signature Term product is a great product that offers “living benefits”—benefits you can use while still alive. The product is competitively priced, and the underwriters at American National do an amazing job of offering insurance to people with a medical history. The application is thorough and takes about 30 minutes to complete; the company may request medical records from your physicians in order to make a decision.

About American National Insurance Company

American National Insurance Company was founded in 1905 and has evolved into a well-respected member of the life insurance industry, offering both longevity and stability to its policyholders. Headquartered in Galveston, Texas, American National has more than 3,000 employees in offices in Galveston and League City, Texas; Springfield, Missouri; and Glenmont, New York. American National’s network of agents spans all 50 states and Puerto Rico, and provides service to more than 5 million policyholders.

Pros:

  • Non-med underwriting from $50,000 to $250,000
  • Includes accelerated benefit riders for terminal illness, chronic illness, and critical illness
  • Underwriting Express facilitates 48-72 hour turnaround on approvals
  • Rates are guaranteed to remain the same during the term length
  • Multiple health rating classes

Cons:

  • Long application

Application Process:

  1. Submit your application with the help of a True Blue Life Insurance agent.
  2. Underwriting will order MIB records (medical records), MVR (motor vehicle records), and pharmacy reports.
  3. Depending on age and dollar amount, a medical review via phone may be required.
  4. Upon determination and approval, underwriting will send you the policy via standard mail.

Average Approval Time:

American National’s turnaround time is usually 1-4 weeks for underwriting determination except for Underwriting Express which can take up to 72 hours.

Learn More About Assurity

Assurity’s NonMed 350 is a good term product from an excellent company. The application is taken over the phone and is signed digitally. The underwriting can take 2-4 weeks, and medical records may be requested in order to make a decision. The product is competitively priced for people who are in excellent health.

About Assurity

Assurity has long lived its mission of helping people through difficult times, with a heritage dating back to 1890.
Being a mutual organization is important. It means Assurity has no shareholders or publicly traded stock, and that Assurity’s policyholders share in the ownership of the company. Ultimately, it means Assurity is in business to serve the interests of its policyholders. Assurity provides life insurance, disability and critical illness insurance, and voluntary employee benefits through independent brokers nationwide.

Pros:

  • Face amounts $50,000 to $350,000
  • Application can be completed in 20-30 minutes and can be digitally signed
  • A mutual company where policyholders are the “shareholders”
  • Low prices for healthy people

Cons:

  • Policies typically take 2-4 weeks to issue
  • Long application

Application Process:

  1. Submit your application with the help of a True Blue Life Insurance agent.
  2. Underwriting will order MIB records (medical records), MVR (motor vehicle records), and pharmacy reports.
  3. Depending on age and dollar amount, a medical review via phone may be required.
  4. Upon determination and approval, underwriting will send you the policy via standard mail.

Average Approval Time:

Assurity’s turnaround time is usually 2-4 weeks for underwriting determination.

Learn More About Banner

Banner is a great company for those individuals looking for affordable coverage with less than perfect medical history. As Legal & General’s flagship life insurance company in the United States, they offer very competitive rates for all health classes and their policies are convertible to a whole life policy up to age 95. As part of their in-depth underwriting process, be prepared to submit financial information as part of the approval process.

About Banner

The history of Banner Life Insurance Company is more than 50 years strong. Chartered in 1949 as Government Employees Life Insurance Company (GELICO), we were acquired by Legal & General Group Plc as a wholly owned subsidiary in 1981. In 1983, our name was changed to Banner Life, signifying our flagship position with Legal & General America in the United States.Banner Life’s subsidiary, William Penn Life Insurance Company of New York, joined the corporate group in 1989. Since that time, management for both companies has been consolidated at the senior level. Banner Life’s national presence, William Penn’s nearly 40 years of brokerage experience and the operational synergy between both companies is a strong combination. Banner’s life insurance products are sold through independent life brokerage agencies in 48 states and the District of Columbia.

Pros:

  • Application can be completed in 20-30 minutes
  • Provides competitive rates for less than perfect medical history
  • Great conversion options
  • Good for tobacco users
  • Good for family history of cancer and heart attacks

Cons:

  • Requires personal financial review in most cases
  • Long telephone interview

Application Process:

  1. Submit your application with the help of a True Blue Life Insurance agent.
  2. Application will be processed with a medical examiner over the phone who will order a paramedical exam.
  3. The paramedical exam will include a detailed medical history, blood draw, urinalysis, and blood pressure check.
  4. Results of the exam are sent into underwriting and is reviewed alongside other requested information (as applicable).
  5. Determination is made based on submitted information and if approved, policy is sent via email.

Average Approval Time:

Banner’s turnaround time for underwriting determination is 2-4 weeks.

Learn More About Fidelity Life

The Fidelity Rapid Term Express policies are very easy for both customers and agents to complete. Because the underwriting process does not include requesting medical records, policies are issued/approved within 48 hours.

About Fidelity

Fidelity Life Association was founded in 1896 as Mystic Workers of the World, a fraternal benefit society designed to provide financial protection for the growing middle class of the Midwest and Northern states.

As Middle America grew, so did the organization. By 1915, life insurance in force reached $100 million. In 1929, the organization increased its assets by nearly 100 percent during the worst decade in U.S. financial history. Though it remained a fraternal benefit society, the organization changed its name to Fidelity Life Association in 1930. For the next few decades, Fidelity’s assets and the number of customers it served continued to grow.

Today, Fidelity Life is a well-capitalized life insurance company licensed to do business in all states except Wyoming and New York, with over $26 billion of life insurance in force. Fidelity is organized as a stock life insurance company subsidiary of Lifestory Interactive, with Members Mutual Holding Company as its ultimate parent. This organizational relationship provides Fidelity Life greater operational flexibility and access to capital. The company has a risk-based capital ratio that ranks in the top 10 percent of the U.S. life insurance industry and is rated A- (Excellent) by A.M. Best.

Pros:

  • Face amounts: $25,000 to $250,000
  • Short application can be completed in 10-15 minutes and signed digitally
  • Approvals within 24-48 hours
  • No medical exam for coverage up to $250k

Cons:

  • Approval/Denial decision only
  • Not good for history of health decisions

Application Process:

  1. Submit your application with the help of a True Blue Life Insurance agent.
  2. Underwriting will order MIB records (medical records), MVR (motor vehicle records), and pharmacy reports.
  3. Depending on age and dollar amount, a medical review via phone may be required.
  4. Upon determination and approval, underwriting will send you the policy via standard mail.

Average Approval Time:

Fidelity’s turnaround time is quick and usually done within 24-48 hours.

Learn More About North American

North American offers a guaranteed level product that is taken over the phone via a fully digital application. As soon as the application has been completed over the phone, an underwriting decision is made then and there. Customers can digitally sign the policy and receive the official policy via digital download. In addition to being instant issue, the LifeVue product is one of the most competitively priced no medical products on the market. It’s one of the best products we have from an A++ rated company.

About North American

As one of the leading providers of life insurance and annuities in the United States, North American has continuously fulfilled commitments to its customers since 1886. Families and businesses alike have counted on North American to be there for them during their most challenging times, and to help prepare them for the good times ahead. North American has been doing this for nearly 130 years through outstanding customer service, competitive insurance and retirement solutions, and a foundation of financial strength. This unwavering commitment helps North American’s customers focus on the things that matter most to them.

Pros:

  • Instant underwriting decisions; policies are issued the same day
  • Coverage amounts: $50,000 up to $500,000
  • Short application is taken over the phone and policies delivered via email

Cons:

  • Automatic disqualifications for military personnel and medical histories involving heart attacks and dibetics under age 40.
  • Checks financial records/history during underwriting.

Application Process:

  1. Submit your application with the help of a True Blue Life Insurance agent.
  2. Underwriting will order MIB records (medical records), MVR (motor vehicle records), and pharmacy reports.
  3. Depending on age and dollar amount, a medical review via phone may be required.
  4. Upon determination and approval, underwriting will send you the policy via standard mail.

Average Approval Time:

North American’s turnaround time is quick and underwriting is complete the same day.

Learn More About Pacific Life

If you are in good health and are open to a fully underwritten life insurance policy, Pacific Life is often the best choice. As a large and well respected brand with short application forms and faster than normal turnaround times, Pacific Life provides additional coverage for chronic and terminal illnesses under their “Living Needs Benefit”. They only provide fully underwritten policies and their application process includes an additional interview with underwriting.

About Pacific Life

“You want to reach your financial goals and we’re here to help you get there. With more than 145 years of experience, hundreds of thousands of individuals, families, and businesses trust Pacific Life to help with their financial future. We have no publicly traded stock – we are an independent company that remains focused on long-term strategies, our financial strength, and on making decisions that benefit our policyholders and clients.

Pacific Life Insurance Company’s organization is relatively unique as we are part of a mutual holding company structure; therefore, policy and contract owners are members of the company and we are not driven by stock price when making decisions. Our structure allows us to develop innovative products that evolve with the needs of the families and businesses we serve. Our support goes beyond just product innovation; we select businesses and markets that we understand well, can excel in, and provide value to our customers.” – Pacific Life

Pros:

  • Simplified and automated underwriting process
  • Application is taken over the phone and policies delivered electronically via email
  • Good for history of health conditions
  • Strong, financially stable company.

Cons:

  • Slow approval process

Application Process:

  1. Submit your application with the help of a True Blue Life Insurance agent.
  2. Application will be processed with a medical examiner over the phone who will order a paramedical exam.
  3. The paramedical exam will include a detailed medical history, blood draw, urinalysis, and blood pressure check.
  4. Results of the exam are sent into underwriting and is reviewed alongside other requested information (as applicable).
  5. Determination is made based on submitted information and if approved, policy is sent via email.

Average Approval Time:

Pacific Life typically has a 4-8 week turnaround time on underwriting determination.

Learn More About Phoenix

Phoenix’s Simplified Issue Safe Harbor Term product is arguably the best-priced no exam term life product when you factor in the living benefits that are included. The application is fully digital, and the Express product is issued in just 24 hours. The product is a great fit for many people.

About Phoenix

Founded in 1851, The Phoenix Companies, Inc. offers annuities and life insurance designed to meet income and protection needs of families and individuals planning for or living in retirement. Products are available primarily through independent agents and financial professionals.

Phoenix’s life insurance products offer a spectrum of death benefit protection, living benefits in case of critical, chronic, or terminal illness, and unique options for leaving a legacy to young beneficiaries, such as college tuition assistance and annual birthday gifts. Cash value accumulation features provide flexibility to meet a variety of needs. The company’s long history of product innovation drives ongoing development of competitive offerings for today’s marketplace.

Pros:

  • No medical records requested for the Express product
  • Quick application is taken over the phone and policies delivered electronically via email
  • Included living benefits for critical illness, chronic illness, and terminal illness
  • No medical exam for coverage up to $500k
  • Express: underwriting decision within 24 hours.

Cons:

  • Company financial strength

Application Process:

  1. Submit your application with the help of a True Blue Life Insurance agent.
  2. Underwriting will order MIB records (medical records), MVR (motor vehicle records), and pharmacy reports.
  3. Depending on age and dollar amount, a medical review via phone may be required.
  4. Upon determination and approval, underwriting will send you the policy via standard mail.

Average Approval Time:

Phoenix’s standard turnaround time is between 1-7 days for underwriting determination.

Phoenix’s Express turnaround time is quick and usually done within 24 hours.

Learn More About Protective

Acting as a universal life policy, the pricing and structure of the Protective Custom Choice UL plan is similar to a standard term life insurance policy and a great fit someone looking for keeping a decreasing amount of coverage after the end of the selected term. Protective also offers competitive underwriting for a variety of health conditions and allows for electronic delivery of documents and policies. Underwriting can take up 4-8 weeks to complete which can be longer than others in the industry.

About Protective Life

Protective Life Insurance Company was established on a profound belief in the American dream: Provide quality products with excellent service and success will follow. Since 1907, Protective Life Insurance Company has remained true to its core beliefs: Quality, Serving people, and Growth. This unwavering commitment to doing the right thing for the people we serve has been rewarded with stable, long-term relationships and continuous growth. Today, Protective Life is one of the nation’s leading insurance companies, proving the wisdom of our Company’s vision: Doing the right thing is smart business.®

Pros:

  • Great conversion options
  • Competitive rates for all classes
  • Good for history of health conditions

Cons:

  • Occasionally slow approvals

Application Process:

  1. Submit your application with the help of a True Blue Life Insurance agent.
  2. Application will be processed with a medical examiner over the phone who will order a paramedical exam.
  3. The paramedical exam will include a detailed medical history, blood draw, urinalysis, and blood pressure check.
  4. Results of the exam are sent into underwriting and is reviewed alongside other requested information (as applicable).
  5. Determination is made based on submitted information and if approved, policy is sent via email.

Average Approval Time:

Protective typically has a 2-6 week turnaround time on underwriting determination.

Learn More About Sagicor

Sagicor’s Sage Term product is the leader in the no medical exam life insurance market. The application can be taken over the phone in about 20 minutes, or you can complete most of the application online.

You can sign the application digitally, and your policy can be delivered digitally when it is issued.

The Sage Term product is convertible to the Sage No Lapse Universal Life product, which is one of the best permanent policies in the market. It can be converted at any time during the guaranteed coverage period.

About Sagicor

Sagicor Life Insurance Company is a full-service life insurance company that helps clients make wise financial decisions today to ensure that they’re protected tomorrow. Licensed in 45 states and the District of Columbia, Sagicor is rated A- (Excellent) by A.M. Best (4th-best out of 16 possible ratings). This rating is based on Sagicor’s financial strength and ability to meet its ongoing obligations. Sagicor is a wholly owned subsidiary of Sagicor Financial Corporation, one of the oldest insurance groups in the Americas, with operations in 22 countries, mainly in the United States, Latin America, and the Caribbean. Sagicor is committed to offering customers world-class service with integrity and value.

Pros:

  • Quick application can be completed in 20-25 minutes
  • Spousal discount offered
  • Policies issued within 1-7 business days
  • Provides Accelerated Death Benefits and Nursing Home Confinement
  • No medical exam up for coverage up to $500k

Cons:

  • Disqualification for health histories involving bipolar disorder, autism, and diabetes under 40.

Application Process:

  1. Submit your application with the help of a True Blue Life Insurance agent.
  2. Underwriting will order MIB records (medical records), MVR (motor vehicle records), and pharmacy reports.
  3. Depending on age and dollar amount, a medical review via phone may be required.
  4. Upon determination and approval, underwriting will send you the policy via standard mail.

Average Approval Time:

Sagicor’s turnaround time can be between 2-7 days for determination and issuance.

Learn More About SBLI

SBLI consistently has the lowest-priced no exam quotes, as they have priced these policies the same as their fully underwritten policies. SBLI is an A+ (Superior) A.M. Best-rated company with a great reputation in the industry. SBLI also offers health classes all the way down to table 8, which is great for a no exam option. SBLI will request medical records if there is a question about the customer’s medical history, so underwriting can take up to 25 days.
Applications are taken by a third party hired by SBLI, so it’s important that we qualify you before transferring you over to complete the application.

About SBLI

SBLI (Savings Bank Life Insurance) was founded in 1907 by future Supreme Court Justice Louis Brandeis. Through savings banks, Brandeis wanted to give families a low-cost, trustworthy alternative for life insurance at a time of distrust in the insurance industry. While SBLI has grown into one of the nation’s leading life insurance companies, Brandeis’ founding mission remains: to offer affordable, dependable life insurance to all who need it.

Affordable
SBLI has always offered some of the lowest rates in the country. In fact, you could save hundreds of dollars with SBLI versus other insurers over the length of your policy.

Dependable
Thanks to a responsible investment approach and efficient business practices, SBLI has earned impressive ratings for financial strength, so policyholders know the company will be there when their families need SBLI most.

No Nonsense
Protecting your family with life insurance is one of your most important financial decisions. That doesn’t mean it should be difficult. SBLI prides itself on making life insurance easy by removing the nonsense and confusing jargon from the purchase process.

Pros:

  • Face amounts: $100,000 to $500,000
  • Application can be completed in 20-30 minutes via a telemed interview
  • Generally quick underwriting decisions
  • No medical exam for coverage up to $500k

Cons:

  • Policies can take up to 25 business days to be approved
  • Requires financial record/reports reviewed during underwriting

Application Process:

  1. Submit your application with the help of a True Blue Life Insurance agent.
  2. Underwriting will order MIB records (medical records), MVR (motor vehicle records), and pharmacy reports.
  3. Depending on age and dollar amount, a medical review via phone may be required.
  4. Upon determination and approval, underwriting will send you the policy via standard mail.

Average Approval Time:

SBLI’s turnaround time can be between 7-25 businesses days for determination and issuance.

Learn More About United of Omaha

United of Omaha’s Term Life Express is an amazing product that provides more living benefits than any other policy included at no cost. The product is only offered at the standard/regular health class and has one of the most liberal build charts in the industry. United/Mutual of Omaha is a great company with extremely high ethical standards. Most policies are issued either immediately or within 10 days.

About United of Omaha

For more than a century, Mutual of Omaha Insurance Company (Mutual of Omaha) has been there to keep its promises to customers. The company is strong, stable, secure, and ready to meet your insurance and financial needs. Through good times and bad, you can have confidence in Mutual of Omaha.

A subsidiary of mutual insurance giant Mutual of Omaha, United of Omaha Life Insurance offers a range of protection and retirement products to employer groups and individuals, including life insurance, fixed annuities, and related financial products and services in all states but New York (where sister firm Companion Life Insurance Company of New York operates).

Pros:

  • No medical exam required for face amounts: $25,000 to $300,000
  • Automatically included riders: Terminal Illness, Chronic Illness, and Critical Illness, Residential Damage, Waiver of Premium for Unemployment, Common Carrier Death Benefit Provision
  • Application can be completed in 20-25 minutes by phone
  • Generous build chart (more flexibility for customers who are overweight)

Cons:

  • Automatic disqualification for diabetics under 50
  • Few health rating classes

Application Process:

  1. Submit your application with the help of a True Blue Life Insurance agent.
  2. Underwriting will order MIB records (medical records), MVR (motor vehicle records), and pharmacy reports.
  3. Depending on age and dollar amount, a medical review via phone may be required.
  4. Upon determination and approval, underwriting will send you the policy via standard mail.

Average Approval Time:

Mutual of Omaha/ United of Omaha turnaround time can be up 10 days for determination and issuance.

More Information

CompanyRatingsBest FeaturesIdeal ForApplication ProcessApproval TimeTrue Blue Review

AM BEST: A-

BBB: A+

  • Quick Approval
  • Fast Application
  • No Exam Required Up To $500,000

Best For People In Good HealthNo Medical Exam Required Up To $500,000same day issue – 10 DaysApplication Process: A+
Speed Of Approval: A+
Service: A+

AM BEST: A+

BBB: A+

  • Quick Approval
  • Fast Application
  • No Exam Required Up To $500,000
  • Included living benefits

People is good healthNo Medical Exam Required Up To $500,000same day issue – 10 DaysApplication Process: A+
Speed Of Approval: A+
Service: A+

AM BEST: A+

BBB: A+

  • Great Conversion Options
  • Competitive Rates
  • Good For Various Health Conditions

Good For Various Health ConditionsRequires Full Medical Exam And Longer Underwriting Process2-6 WeeksApplication Process: A
Speed Of Approval: A-
Service: A+

AM BEST: A

BBB: A+

  • Included Living
    Benefit
  • Multiple
    Health Rating
    Classes
  • No Exam Required Up To $250,000

Excellent For People With Previous Health ConditionsRequires Full Medical Exam And Longer Underwriting Process2-4 WeeksApplication Process: B+
Speed Of Approval: A-
Service: A-

AM BEST: A+

BBB: A+

  • Included Living
    Benefit
  • Liberal Build Chart
  • No Exam Required Up To $300,000

Excellent For People Who Are OverweightNo Medical Exam Required Up To $300,0005-10 DaysApplication Process: A
Speed Of Approval: A
Service: A+

AM BEST: A+

BBB: A+

  • Excellent Conversion Options
  • Flexible
    Underwriting
  • Company Financial Strength

Excellent For People With Previous Health ConditionsRequires Full Medical Exam And Longer Underwriting Process1-3 MonthsApplication Process: A
Speed Of Approval: B
Service: A-

AM BEST: A+

BBB: Not Rated

  • Excellent Conversion Option
  • Competitive Tobacco Rates
  • Good For Family History Of Cancer And Heart
    Attacks

Excellent For Tobacco UsersRequires Full Medical Exam And Longer Underwriting Process2-4 WeeksApplication Process: A-
Speed Of Approval: A-
Service: A

AM BEST: B

BBB: A+

  • Included Living
    Benefits
  • Express Approval Available
  • No Exam Required Up To $500,000

Best For People In Good HealthNo Medical Exam Required Up To $500,0001-7 Days (Express: Within 24 Hours)Application Process: A+
Speed Of Approval: A
Service: A-

AM BEST: A+

BBB: A+

  • Great For Previous Health
    Conditions
  • Excellent Service
  • Company Financial Strength

Great For People With High Cholesterol or Health ConditionsRequires Full Medical Exam And Longer Underwriting Process4-8 WeeksApplication Process: A-
Speed Of Approval: B+
Service: A+