Who Has the Best Term Life Insurance Policy?
When it comes to which life insurance company has the best term life insurance policies, there are many factors to consider. For many, life insurance rates are top priority, and though rates may differ, life insurance premiums are determined in the respective company’s underwriting process. Other considerations are company offers and policy features. Let’s examine life insurance companies and their term policies.
Prudential offers competitive rates on its term life policies, features convertibility, and offers riders at an additional cost. Its riders include living needs benefits, waiver of premium, accidental death and dismemberment, children’s protection, and more.
At Northwestern Mutual you have the option of choosing between level premiums, increasing term policies, or decreasing term policies. You can choose to pay less in the younger stages of life and then pay more as you feel financially more secure. Also, you can cover important expenses like your mortgage with a decreasing term policy. Northwestern Mutual has superior ratings with four prominent rating services.
Mutual of Omaha
Mutual of Omaha life insurance company offers affordable term life insurance policies, with level premiums and a fixed death benefit of $100,000 or more. You can purchase a policy from Mutual of Omaha between the ages of 18 and 80.
State Farm offers several options in term life insurance. Its Select Term policy offers term lengths of 10, 20, or 30 years. For an increase in premium, you can renew the policy at the end of the term length, until the age of 95. It also offers return of premium insurance and instant answer term insurance, which lasts to the age of 50 or a maximum of 10 years, whichever is greater.
Mass Mutual term insurance policies are affordable and convertible. Beneficiaries receive a lump-sum benefit. Its policies are usually between 20 and 30 years; after that, premiums increase considerably.
Nationwide offers term life insurance policies in 10- to 30-year terms. Premiums remain level during the term length, and policies can be renewed until the age of 95. Its term policies can be converted into permanent policies until the age of 65. The riders they offer are waiver of premium, accelerated death benefit, and children’s term rider.
New York Life
New York Life has flexible premium options to suit your needs. You can choose from a yearly convertible policy, where the premium will increase every year and can be converted quickly. Or you can choose a level premium convertible policy, where the monthly premium is set for the term length of 10 to 20 years and increases upon renewal. Its riders include living benefits and waiver of premium.
Guardian offers term life policies from 10- to 30-year terms. It also offers:
You may also choose to donate one percent of your death benefit to the charity of your choice at no extra cost. Guardian rates high in customer satisfaction and financial strength.
John Hancock ‘s term life insurance policies come in term lengths of 10, 15, or 20 years. It has high benefit levels of up to $65 million and a variety of policy types to cover short-term debt or provide final expenses. John Hancock ‘s Vitality program offers its policyholders rewards for making healthy choices.
Pacific Life ‘s term insurance policies offer level premiums in increments of five years, from 10 to 30 years, and smooth underwriting for older individuals. And its policies are convertible. Pacific Life has superior ratings with A.M. Best, Fitch, and S&P.
Transamerica has term life policies with term lengths from 10 to 30 years. Its benefit levels range from $25,000 to $10 million. If you are under a certain age, no medical exam is required. Its Trendsetter Super policy is convertible without an additional medical exam, and its Trendsetter LB policy provides living benefits.
Haven Life insurance is available for purchase online and is backed by Mass Mutual. It has high benefit levels from $100,000 to $3 million. Policyholders can manage their accounts online, and applicants must be between the ages of 18 and 65. Its features include level premiums, accelerated death benefit, and a free look period.
AIG offers a large variety of term lengths, from ten to thirty five years. Features include fixed premiums and a fixed death benefit, renewability and convertibility, and living benefits. Their living benefits can come two different ways for chronic, and terminal illness, or terminal illness only.
By using Insurify to compare life insurance quotes from leading life insurance companies, you can save time and money. Choose the right company and policy in just a few minutes, and tailor it with the riders and features that fit your needs and your future needs.