The Top 10 Life Insurance Companies in the US Author:    Posted under: Life InsuranceLife Insurance questions answered


There are a number of life insurance companies in the United States. It is one of the largest sectors in the finance industry and if you’re in the market for a life insurance provider, you will find how complex it may become to find one that is best for you.

When looking for life insurance companies, remember that stability in the business and a track record of proven ability to repay claims are just two indicators of a reliable company.

We’ve compiled a list of companies for you in the hope that this will help you decide which one will best suit your needs and budget. Below, in no particular order are the top 10 life insurance companies in the US.

MetLife

MetLife is one of the biggest and most important names when it comes to life insurance. It has been around since 1868 and is well-known for their personalized customer care, and competitive rates. However, House Insurance Rates (www.houseinsurancerates.com) gives MetLife a report card score of A- and JD Powers & Associates named it as one of the worst companies due to the poor customer ratings of their claims service.

New York Life Insurance

Founded in 1845, New York Life Insurance has the reputation of being the strongest financial services in the industry. Approximately 25% of all its sales come from their strong international activities, in China, Mexico, Hong Kong, Thailand, Philippines, Argentina, India, South Korea and Taiwan. Majority of the reviews by consumers on Insurance USA (www.insuranceusa.com) have given excellent ratings for coverage, cost, customer service and claims service.

Massachusetts Mutual Life Insurance

Mass Mutual Life Insurance Company was founded in 1851 and is ranked 90 in the 2007 Fortune 500. Although in 2009, Standard & Poor’s cut the company’s rating from AAA to AA+. S&P has said that this was “because of its lower quality of capital and reduced financial flexibility.”* Mass Mutual Life Insurance spokesman Mark Cybluski expressed that ““While we are disappointed that our rating has been revised . . . it is important to note that MassMutual maintains among the highest financial-strength ratings of any company in any industry.’’*

American Family Life Assurance Company

AFLAC is one of the top rated insurance companies in the USA that offers a wide variety of health and accident insurance policies and affordable life insurance products.

Principal Financial Group

Principal Financial is one of the highly reputed life insurance companies in the USA.  They provide insurance policies for businesses and individuals and bank on the excellent service that is central to their organization. However, as with any business, reviews for Principal Financial Group are mixed. Consumers point out its share of flaws on Viewpoints (www.viewpoints.com) when it comes to customer and claims service.

Prudential Insurance Company of America

This life insurance company offers life insurance policies under five categories, which are the Term Life Insurance, Universal Life Insurance, Whole Life Insurance, Variable Life Insurance and Survivorship Life insurance. Prudential has been around since 1875 and was begun to give working-class people affordable insurance. It has since grown and has made its presence known in all 50 states, operating internationally at the same time. Reviews from Free Advice (http://insurance.freeadvice.com) however reflect discontent with regards to customer and claims service.

TIAA-CREF

TIAA-CREF has various lines of life insurance, including level, renewable term, and universal as well as survivorship life insurance. It is headquartered in New York and has 60 offices spread across the United States. It has earned good rankings from reputed insurance rating agencies. On the other hand, customer reviews left on Consumer Commentary (http://www.consumerismcommentary.com) paint conflicting images of the level of customer care and claims service that the company provides.

Lincoln National

Lincoln National offers a wide range of insurance products that focuses on the long-term needs of the individuals in search of insurance policies, as it also offers annuities. Notable features include Term, universal and variable universal insurance policies, clear policy summaries and a useful information center and a number of additional financial services.

Genworth Financial

Genworth Financial Life Insurance provides traditional term life insurance, universal life insurance and term life insurance with that of premium options. The company has a strong reputation for meeting the obligations related to policy holders. Top Ten Review’s 2011 Life Insurance Review Comparisons has given it an overall rating of 3 out of 4 (http://insurance-quote-review.toptenreviews.com/life-insurance/).

Northwestern Mutual Life Insurance

Northwestern Mutual Life Insurance Company was founded in 1857 and is the lead company in a group of financial companies known as the Northwestern Mutual Group. The life insurance policies this company provides offers many benefits, such as the Guaranteed Death Benefit, Guaranteed Minimum Cash Value have been accepted widely by their customers. 74% of consumers who left reviews on Free Advice (http://insurance.freeadvice.com) have reported to be extremely satisfied with the level of service, competitive rates and claims service.

* http://www.boston.com/business/articles/2009/08/27/massmutual_loses_its_aaa_rating/

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