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The 5 best life insurance companies in the United States in 2019
Standout life insurance providers and what they offer potential policyholders.
Last updated:
Explore our top picks for life insurance across five categories that include term insurance, whole insurance and insurance for applicants ages 60 or older. Read our methodology.
Best life insurance providers
Best term life insurance: TIAA
TIAA is among the highest-rated insurance companies in the US, its financial strength earning a superior rating from A.M. Best and a very strong rating from Standard and Poor’s. It’s among the Ethisphere Institute’s 2017 list of the World’s Most Ethical Companies. TIAA offers nationwide term, whole and universal life insurance with the following perks:
Best whole life insurance: Guardian
This nationwide provider boasts that it’s one of the largest mutual life insurers in the US, announcing record earnings and capital in 2017. Those earnings have allowed Guardian to pay dividends to its eligible policyholders annually since 1868. Its cash-building whole life insurance is backed by solid industry ratings, and riders allow you to extend protection for chronic illness or disability. Other highlights include:
Best for people ages 60 or older: Mutual of Omaha
Mutual of Omaha offers a suite of insurance products that include term life policies of 10 to 30 years and guaranteed cash-building permanent life insurance. New policies are available for ages up to 74 years and terms last to age 80. Additional benefits include:
Best for customization: Northwestern Mutual
When it comes to customizing your policy, Northwestern Mutual offers a range of riders for highly flexible and versatile coverage. Fortune magazine’s includes the insurer in its January 2019 list of the World’s Most Admired Companies, which ranks corporate reputation. Here are the standout features:
Best reputation: State Farm
State Farm stands as one of the largest insurance providers in the US, supported by more than 19,000 nationwide agents and powerful financial-strength ratings. Policies build cash value, and you may be eligible for one of its multiple discounts. Additional perks include:
Must read: How we picked our best providers
Our writers and editors are committed to objectivity that empowers our readers to make a decision that’s free of bias.
When analyzing life insurance providers, we weigh the insurer’s reputation in the industry, product selection, policy customization and underwriting standards.
To determine industry reputation, our editorial team reviews the company’s financial strength, ratings and accreditations and customer reviews.
We base product selection, policy customization and underwriting standards on an in-depth analysis of the insurer’s services and guidelines available on the provider’s website.
How to compare life insurance providers on your own
Finding a policy that works for your situation requires identifying your personal must-haves in advance so you can advocate for yourself while shopping around. Ask yourself:
- What’s the coverage range? Different providers offer different ranges of coverage. While some policies start at $50,000, others may top out at this same figure. Determine how much coverage you’re interested in and make sure the provider you select can account for your needs.
- Should I opt for term or permanent insurance? Term life is often more affordable than permanent life but only lasts for a set period of time. It also lacks many of the perks of permanent insurance, such as built in cash value and dividend eligibility.
- Am I required to take a medical exam? Your provider may ask you to fill out a medical questionnaire or undergo a medical exam during the application process. If you’re concerned about a pre-existing condition, you can find coverage that doesn’t require an exam, but this type of coverage is often more expensive.
- When are my premiums due? Many policy premiums are paid monthly, but you may be able to opt for annual or semiannual payments to pare down your payment schedule. Some providers offer a discount for paying on an annual or semiannual basis.
- What policy riders are available? Policy riders can be added to your policy to customize and augment your coverage depending on your personal needs. Ask your provider what riders are available and what the cost is to have a rider added to your policy.
Why we like:
- Apply online and get a decision instantly
- Cancel your coverage at any time
- No annual fees
Why we like: LadderLife™ Life Insurance
- No brokers trying to upsell you
- Your rate is locked in until your term expires
- 30 day money-back guarantee
Explore more of the best brands in life insurance
| Company | BBB rating | A.M. Best rating | JD Power rating |
|---|---|---|---|
| AIG | A+ | A | 718 |
| AXA Equitable | A+ | A+ | 752 |
| Banner Life | A+ | A+ | — |
| Brighthouse | A+ | A+ | — |
| Fidelity Life | A+ | A- | — |
| Guardian Life | A+ | A++ | 760 |
| Haven Life | A+ | A++ | — |
| Health IQ | A | A++ | — |
| John Hancock | A+ | A+ | 739 |
| Lincoln Financial | A+ | A+ | 744 |
| Mass Mutual | A+ | A++ | 780 |
| Metlife | B- | A+ | 779 |
| Mutual of Omaha | A+ | A+ | — |
| Nationwide | A+ | A+ | 806 |
| New York Life | B- | A++ | 828 |
| Northwestern Mutual | A+ | A++ | 799 |
| Pacific Life | A+ | A+ | — |
| Primerica | A+ | A+ | 717 |
| Principal Financial | A+ | A++ | 774 |
| Protective | A+ | A+ | 742 |
| Prudential | A | A+ | 770 |
| SBLI | A+ | A+ | — |
| State Farm | B | A++ | 828 |
| Transamerica | A+ | A+ | 719 |
| USAA | A+ | A++ | — |
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Bottom line
Choosing a life insurance policy may feel overwhelming, but there are plenty of standout providers with unique benefits to offer.
Whether you’re drawn to top notch customer feedback, rider add-ons or policy guarantees for more peace of mind, review your life insurance options with multiple providers before you apply.
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