[Updated] Top 7 Life Insurance Companies in the USA

Top 7 Life Insurance Companies in the USA 2018 Updated: Finding out which company offers you the best life insurance policies is not an easy task. People in our country suffer a lot to figure out the best life insurance policies for them. Most of the insurance companies attract customers by their “insurance quotes” and their advertisements. But the truth behind these attractive advertisements and marketing is different. You're investing your valuable money into insurance companies and when you have the need to claim your policy amount you may have to suffer from the pain. So to make your decision easy we’re here to decide you the best life insurance policy for you and your family.

[Updated] Top 7 Life Insurance Companies in the USA
[Updated] Top 7 Life Insurance Companies in the USA

What are the best life insurance companies in the USA?

The best life insurance companies change every year. Because every company make changes into their services and plans every year so their growth is also change in the market. So it’s necessary for you to choose best life insurance company for you and your family. We’ve done lots of research, and we’re here to help you make this decision a lot easier. Let’s take a look at the best insurance companies in the USA:

1. Haven Life Insurance

Haven life is the best life insurance company in the market today. Haven Life Insurance Company offers you to buy insurance policies 100% online without meeting to any agent. So if you don’t have enough time to interact with insurance agents the Haven Life Insurance company is the best option for you. To make your decision easy we find out some Pros and Cons of Haven Life Insurance Company.

Pros
  • They don’t take medical exam 
  • Instant decisions
  • Affordable

Cons
  • Healthy applicants only 
  • They have limited product types 
Haven Life Insurance Company is the subsidiary of Mass Mutual and has received the highest financial ratings offered by A.M.

2. Banner Life Insurance

Banner Life Insurance is also the best life insurance company offering services since 1949, and it currently holds approx $415 billion in premiums in force. The products of Banner come with a great range of riders, convertibility options, and a second-to-none sub-standard underwriting style. If you are part of the 95% of the world who isn’t in perfect, Olympic athlete health, you probably won’t find a more affordable term policy than you will with Banner.

Pros:
  • Affordable
  • Superior undertaking 
  • Riders & convertibility

Cons:
  • Unfamiliar brand name
  • No true whole life
  • No instant issue
Banner Life Insurance Company has high ratings from the various agencies, including an A+ from A.M. Best, an AA- from Standard & Poor’s, and an A from Fitch Ratings.

3. MassMutual

MassMutual is also on the top in providing great services of life insurance. MassMutual has been offering best life insurance products for more the one sixty years. All the products of MassMutual are competitive and diverse. With the addition of backing Haven Life, and having a full suite of financial planning products, it’s no wonder they are leading the best in the marketplace.

Pros:
  • Full retirement plans
  • Financial strength
  • Variety of coverage options for you 

Cons:
  • Independent access

4. Prudential Life Insurance Company

Prudential Life Insurance Company is also the one of the best company with ratings of “A” or better from all of the rating agencies. Prudential is also the best company for the people who use to chewing tobacco. This is because they do not rate chewing tobacco users for smokers’ rates. Prudential also offers a number of different policy options to choose from, including both term and permanent coverage. Permanent coverage from Prudential includes universal, indexed universal, variable universal, and survivorship universal life insurance.

Pros:
  • Trusted Brand
  • Best for smokers
  • Best Risk Undertaking

Cons:
  • Uncompetitive Term

Prudential also has very high ratings from the life insurer rating agencies, obtaining an A+ from A.M. Best, an AA- from Standard & Poor's, an A1 from Moody's, and an A+ rating from Fitch Ratings.

5. Protective Life Insurance

Protective Life Insurance Company is at number five on our list. They have a dominant foothold in more than one sector of the life insurance industry. Protective Life Insurance Company completed more than a century in the market and has lived up to its name in protecting households and businesses all across the United States. With more than 5 subsidiaries, an international presence, four separate “A” ratings, and a huge number of policyholders, Protective is getting noticed for the first time in a major way.

Pros:
  • Simple and affordable policies
  • Riders & Convertibility

Cons
  • Unfamiliar Brand Name
  • No Instant Issue

6. Principal Life Insurance Company

It is also the best company rising in life insurance industry. Although it is more highly rated than some of our other companies on the list, including four ratings of “A” or better, Principal does not quite have the footprint yet of a best in the class carrier. One of the prime reasons Principal Life Group made our list was not only their host of term, universal and variable universal life products, but their no exam life insurance underwriting which allows consumers to purchase up to $1,000,000 in coverage, regardless of which type of insurance they choose.

Pros:
  • Better Service
  • Trusted Brand
  • Variety of products

Cons:
  • Stricter Underwriting

7. Voya Financial Insurance Company

Formerly known as ING, Voya Financial is a very strong insurance and a financial contender in today's insurance industry. The company is made up of premier insurance, investment, and retirement companies, and it serves roughly 13 million individual and business customers in the United States. They provide a wide range of coverage, including term life, universal life, indexed universal life, variable universal life, and survivorship policies. 

Pros:
  • Affordable Pricing 
Cons:
  • Unfamiliar Brand Name
Voya Insurance and Annuity Company has received very high marks from the insurance company rating agencies. These consist of an A from A.M. Best, an A- from Fitch, an A3 from Moody's, and an A- from Standard & Poor's.
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