This article is to review the “best” life insurance companies in 2019. The term “best” is a relative term so lets look at some different metrics to judge the life insurance companies in 2019. The top life insurance companies in the USA can be rated by the amount of market share, volume, specialty and more. We represent many of these carriers below and some that are not on the list of top 20 by market share. Each company is known for a different specialty. For instance, MassMutual is a very reputable company that is known for their whole life insurance programs. John Hancock is also on the list and they have excellent universal life insurance programs and life insurance specifically designed for smokers. They allow for smokers to have a policy at non-tobacco rates so long as they quit smoking within a year. Lets dive into more specifics below.
Best Life Insurance Companies 2019 – Sorted by Market Share
- Northwestern Mutual
- New York Life Insurance Co.
- Prudential
- Lincoln Financial Group
- MassMutual
- John Hancock
- State Farm
- MetLife
- Transamerica
- Guardian Life Insurance Company
- Aflac
- Pacific Life Insurance Company
- AIG
- AXA
- Brighthouse Financial
- Sammons
- Protective Life
- Primerica
- Voya Financial
- Nationwide
Best Life Insurance Companies 2019 – Our Picks
Every insurance expert has their preferences when it comes to working with a life insurance company. We base our picks on the stability of a company, ease of working with them, customer service, and rates.
With that said here is the top insurance carriers that we work with often:
- Ohio National
- Minnesota Life Insurance – Securian
- John Hancock
- MassMutual
- Gerber Life
Our Picks – In Depth
Ohio National is a great company to consider for your life insurance carrier. They specialize in a Term Plus product which is a term life insurance program that allows you to convert your policy into a permanent policy, such as universal life insurance or whole life insurance, within the policy period, regardless of your health status. This is a huge benefit to give our clients options as time goes on. We often use the Term Plus product as a starter life insurance program for newlyweds, mortgage life insurance protection, life insurance to protect the primary money maker, etc.
Minnesota Life Insurance, which works with Securian, designs extremely robust universal life insurance programs. They have indexing options that are non-capped over a two year period. There fees are relatively low when compared to the life insurance industry. We often look towards this company when considering a universal life insurance solution for our clients. Of course, there are other carriers to consider but Securian’s program is a good option.
John Hancock has a very interesting niche program that allows smokers to have non-smoker rates under certain conditions. The policy must be a permanent policy, such as whole life or universal life insurance, and the applicant must prove they have stopped using tobacco within a year of starting the policy. This is a great niche for our clients who intend on stopping smoking but want to benefit from permanent insurance today.
MassMutual is a very strong company financially and they are known for their whole life insurance solutions. When working with clients who love the guarantees associated with whole life we often look towards MassMutual for a solution. They have been around a long time, often pay dividends, and have great customer service.
Gerber Life is a great life insurance company that we utilize for their final expense solutions. They even offer guaranteed issue final expense life insurance which means, regardless of the applicants health, they can get insurance. These guaranteed issue life insurance policies will usually only pay the death benefit if the person lives beyond a two year elimination period.
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