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Whole life insurance is a permanent policy that offers lifelong protection and builds cash value over time. Learn how five top insurers have enhanced their policies to appeal to specific types of policyholders.
Best whole life insurance companies
In a saturated whole life insurance market, five providers stand out for distinct offerings.
Best for consistent dividend performance: MassMutual
Best for varying payment structures: State Farm
Best for customizing your coverage: Northwestern Mutual
Best for accelerating your cash value: Guardian
Best for getting coverage quickly: Amica
Must read: How we picked our best providers
Our writers and editors are committed to objectivity and empowering our readers to make decisions free of bias.
When analyzing life insurance providers, we determine the insurer’s industry reputation by reviewing its financial strength, accreditations and customer reviews. We then assess their underwriting standards based on the information on the provider’s website.
Finally, we weigh up each insurer’s product lineup, policy features and riders.
Life insurance company ratings
A whole life insurance policy is designed for two purposes: leaving your family with the money they need to maintain their lifestyles and building cash value. Your insurer should have the resources to pay out claims and help you boost your wealth. That’s where financial ratings come in.
All five insurers earned the highest or second-highest rating from A.M. Best, while State Farm achieved a perfect score on J.D. Power’s latest life insurance study.
|Agency||MassMutual||State Farm||Northwestern Mutual||Guardian||Amica|
|Standard & Poor’s||AA+||AA||AA+||AA+||N/A|
|J.D. Power||3 out of 5||5 out of 5||4 out of 5||3 out of 5||N/A|
To find out how each company engages with their customers, we looked at the Better Business Bureau. Most insurers earn an A or A+ rating with the BBB based on its own criteria, while customer reviews on the site reveal there’s room for improvement across the board.
|Provider||BBB rating||Customer reviews|
|MassMutual||B-||1 out 5 stars|
|State Farm||A||1 out of 5 stars|
|Guardian||A+||1 out of 5 stars|
|Amica||A+||2 out of 5 stars|
Compare life insurance providers
Reach beyond our top five to find the best fit for your goals and budget.
While whole life insurance is the most basic type of permanent protection, the details matter. The insurers on this list tailor their policies to those who are looking for particular features, like flexible payment structures and a range of riders. Before taking on a policy, compare life insurance providers to find the lowest rates for the most comprehensive coverage you’re looking for.
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