Choosing the right life insurance company for your specific needs is crucial when you’re looking for the lowest Term life insurance rates possible. This article has been designed to help you identify some of the best life insurance companies and get a better understanding on how these companies differ from one another. I will not be classifying these 6 companies in any specific order as to what carrier I think is best. All these companies do a great job and since each company has its specific strengths and niche markets, nobody can actually say one company is actually better than another. This list contains some of the very best choices in trusted life insurance companies. In other words, these are the six “cream of the crop” carriers.
There are many more life insurance companies than you will see on this list, but these are the most preferred by experienced agents.
I have developed this list of life insurance companies based on the fact they would all make a fine choice when shopping for low cost Term life insurance or the permanent plan designs known as Universal Life Insurance. Choosing the correct company for your needs will be based on these main factors but not limited to this list below.
- Health History
- Tobacco Use Status
- Height & Weight
- Sports & Hobbies
You may compare these companies yourself on our free life insurance quote engine by completing the simple form on the right. You will be able to review Term life insurance quotes from all these highly rated companies compared side-by-side. Let’s start out with the first company shown on our list.
A.M. Best Rating A+ (Superior)
Transamerica is a well-known and respected life insurance company which also very unique when compared to the others. They have created excellent Term life insurance policies that also can incorporate optional benefits for when you are alive which are referred to as “living benefits”. The company was originally founded in1904 by a young Italian entrepreneur named Amadeo Giannini who also created the famous Bank of Italy which opened its doors in a office in San Francisco which was previously a tavern. His mission was to make financial services available to all folks and not just the wealthy. After the incredible 1906 earthquake and fire, Giannini set up a temporary bank on the San Francisco waterfront docks, giving earthquake and fire victim residents loans to rebuild, based on a simple handshake.
In 1928, Amadeo Giannini went on to merge with the now well-known Bank of America, and in the year 1930 acquired the Occidental Life Insurance Company. The two businesses separated in 1956 into two entirely different entities, with the life insurance division taking on the Transamerica name. In 1972, Transamerica had claimed its place in the San Francisco skyline and the rest became history. Today the Transamerica Life Insurance Company is known as one of the most competitive and trusted companies in the United States.
Transamerica’s Strong Points & Advantages
Transamerica has an excellent term product which is named the Trendsetter LB policy with “Living Benefits” for Critical and Chronic Diseases which would give you some great protection while you are alive. These policies offer tremendous value when you consider their rich benefits for a very modest increase in premium. You may visit the Transamerica website at https://www.transamerica.com/individual/.
A.M. Best Rating A++ (Superior)
The massive Prudential life Insurance company has over $1.3 Trillion dollars in well managed assets monitored by the company’s premier executive staff. They have over 49,000 employees and sales consultants all over the world. Prudential has been insuring people’s lives for close to 140 years. Prudential was founded by a life insurance agent named John Dryden in a very small basement office in the city of Newark, New Jersey way back in 1875. It was actually the first life insurance company in the United States to offer life insurance to the blue collar working class people.
Prudential sold what was known as “Industrial Insurance”, which provided funeral and burial expenses for low-income families similar to our modern Final Expense (Burial Insurance). Some of the premiums were as low as two cents per week. With their continually growing sales and assets reaching $1 million dollars, they sold their one-millionth policy to their president John Dryden himself. The company was then renamed to “The Prudential Insurance Company of America,” A few years later Prudential adopted the famous Rock of Gibraltar that you have seen on television as its corporate symbol, which was to reflect the strength and security it offered to their life insurance clientele.
Prudential is now one of the most financially secure companies in the world which makes them an excellent choice for any type of life insurance product or financial investment such as Annuities.
Prudential’s Advantages & Strong Points
There are many great advantages when you apply with Prudential such as very competitive rates for smokers, having a hazardous sport, height and weight issues and health problems. You may visit the Prudential website at https://www.prudential.com/.
A.M. Best Rating A+ (Superior)
The Banner Life Insurance Company is normally not going to be a household word as would be Prudential, MetLife, John Hancock, New York Life and others but this has no reflection on their performance as a secure, qualified and competitive life insurance company. Banner Life is a key ingredient in the Legal & General America family of life insurance companies. They have well over $1,000,000 insureds with over $630 Billion dollars of life insurance in force and growing fast. Legal & General first opened for business in London England 178 years ago, in the year 1836.
They have over 10 Million clients worldwide and considering their managed assets have a rank of the 7th largest insurance company in the whole world.
The Banner Life Insurance Company is known as a company with some of the lowest Term life insurance rates in the business. Banner life is always a very good choice for life insurance with the peace of mind of having a very financially stable company you can count on when the unexpected happens.
Banner’s Advantages & Strong Points
If you have any of the many common medical conditions such as high blood pressure or high cholesterol for example, Banner will usually come back with the best rate class after their underwriting process which in turn will enable you to acquire some of the lowest life insurance premiums. Affordable life insurance is Banner’s middle name. Tens of thousands of life insurance agents place their trust in Banner Life for their clients. You may visit the Banner website at https://www.lgamerica.com/.
A.M. Best Rating A+ (Superior)
Protective Life was born and first opened their doors while President Theodore Roosevelt was in his 7th year in office. This brings us back to the date of 1907 which clearly indicates that Protective Life not only has a lot of experience in the life insurance industry but reflects a financially powerful company that has withstood the test of time. Financial strength is very important when choosing a life insurance company due to the fact your policy may be in force for over 30 or 40 years before the policy may be paying out any benefits. The last problem you want is to have your life insurance carrier become insolvent and could fail paying out a death benefit when it is needed by your dependents.
Protective Life has very low Term life insurance rates along with an excellent Universal Life policy when a person needs desires permanent life insurance. Protective Life has over $430 Billion dollars of life insurance currently in force. This is positive proof that the company has excellent rates and does an excellent job of paying benefit claims when the time comes. Protective Life is also one of the most popular life insurance companies in the industry due to their broad portfolio of life insurance products, liberal underwriting practices and competitive rates that puts a quality life insurance product into the hands of thousands of Americans with an affordable price tag as well.
Protective Life’s Advantages & Strong Points
Protective Life is one of the most competitive carriers for Term Life insurance plan designs and has very competitive underwriting for people applying for Term Life insurance with considerable health conditions. If you are looking to purchase low cost Term life insurance from a very financially strong company, Protective life will prove to be one of your best choices. You may visit may the Protective Life website at https://www.protective.com/.
A.M. Best Rating A (Excellent)
Needless to say, AIG American General is a very well-known life insurance carrier in the United States and in many other parts of the world. As one of the many sister companies in the AIG family they are very secure and they have been in business for over 165 years. They have a book of business with more than 12 million customers with excellent life insurance products in force. American General has a very complete line of high quality insurance products ranging from ancillary employer group benefits such as Dental, Life, Short Term and Long Term Disability to retirement fund accounts and Annuities all backed up with tremendous financial strength and some of the most affordable premiums available.
American General has a great line of life insurance products for military veterans and military personnel still active in service with the best rates available.
American General has been in the life insurance business since 1850 and are considered one of the largest and most financially secure life insurance companies in the worldwide. Term life insurance is the most popular life insurance plan design sold in the United States and American General is normally a top contender for competitive premiums when compared to their competitors. Make sure to review the American General line of life insurance products if you are considering applying for a new life insurance policy. You could never make a mistake purchasing your life insurance with AIG American General.
AIG American General:
Advantages & Strong Points
American General has unlimited strong points from offering low cost Term life insurance rates to folks with serious health problems to offering some of the best permanent life insurance product such as Universal Life. You may visit the AIG American General website at https://www.aig.com/lifeinsurance.
SBLI Savings Bank Life Insurance:
A.M. Best Rating A+ (Superior)
The Savings Bank Life Insurance Company is definitely one of our most competitive life insurance companies today. SBLI was founded by a young Lawyer named Louis Brandeis in way back in the year 1907. When Brandeis came up with an idea, he refused to accept the impossible and this was to provide affordable life insurance to all American families who needed it regardless of their income situation. The SBLI roots trace back to the stock market panic of 1907 which was one of the stock markets worst crashes in the history of the United States. Many years ago after the great depression, some of the only companies that remained financially stable were the major life insurance companies.
Many financially stable banks failed and the life insurance industry had been exposed to ever growing crime and corruption of the crippled financial world. This triggered the SBLI Boston lawyer and future Supreme Court Justice Louis Brandeis to become a strong advocate for using extremely trustworthy practices and affordable life insurance for the working families living in America.
He was greatly responsible for the passage of Chapter 561 which was an act that allowed savings banks incorporated under the laws of the state of Massachusetts to establish departments to issue life insurance and annuities. The legislation was passed and Louis Brandeis established the first SBLI department which was responsible for launching the SBLI Bank and a new era in the life insurance industry was born from that point on. The very first policy was issued to a man named Charles Jones in 1908 and the world of being able to purchase low cost and affordable life insurance for all Americans had now began. Life insurance history was in the making.
The SBLI life insurance company has well over 130 Billion dollars of life insurance in force and has some of the lowest premiums in the industry. Today SBLI is one of the most competitive life insurance companies and is one of your best choices to apply with.
SBLI has traditionally had some of the most competitive Term life insurance rates in the industry. You may visit the SBLI website at https://www.sbli.com/.
Life insurance company ratings were provided by the A.M. Best Reporting Agency
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