Choosing from among the best life insurance policies for one’s family can be confusing.
Whether the goal is to provide a solid benefit upon one’s death with Term Life Insurance or to use the policy as an investment with Whole Life or Universal Life coverage, purchasing life insurance can be a daunting task.
The Best Life Protection
The following companies are generally regarded as the best in terms of value and support for life insurance. Read also: High Rated National and Local Life Insurance Policies for Tragedy.
MetLife
MetLife is considered one of the best all-around values in life insurance. Their rates are generally lower than their competition for all groups including smokers and those over sixty (60). Their rates on term life are consistently rated as “best buys.” They also offer whole life and universal life, although their premiums on these products are higher.
- Excellent customer service with in-person, telephone and internet presence allowing customers to do business in the way that makes them most comfortable.
- Individualized plans designed to meet the needs of each customer. They do not take the one size fits all approach.
- Customer service is available twenty-four (24) hours per day.
- Policies can be managed on-line allowing tech savvy policyholders to pay premiums and track their coverage from their PC, tablet or mobile phone.
- The MetLife website offers an insurance calculator to help consumers determine the amount of coverage they need to meet their needs.
MetLife consistently ranks as one of the top carriers for life insurance in terms of premiums, customer service and satisfaction and overall value. Read also: Life Insurance Later in Life.
ING
ING is a full service investment company that specializes in helping investors in matching their financial needs to the appropriate product or products. They offer term, universal, and variable universal life.
- Their representatives can assist consumers in combining a life insurance policy with an investment product to provide complete protection.
- Universal Life insurance policies have the option of being converted for cash after the policy has been held for a specified period of time.
- Excellent for small business owners wanting to keep all services with one company.
- There is no on-line quote service available. In addition, those living outside major metropolitan areas will find it difficult to find an agent.
- Premiums are generally less than those offered by other investment firms, but not as affordable as those offered by traditional insurers.
State Farm
The largest home and auto insurer in the United States also sells life insurance. State Farm consistently ranks in the top three (3) of the insurers with the lowest life insurance premiums. They offer Term, Whole Life and Universal Life coverage and pride themselves on their professional and courteous staff. Read also: Getting A Term Life Insurance Policy As Your Security Blanket.
- Customers can get quotes in-person, by phone or on-line.
- Agents are available around the country, even in rural areas.
- Pricing for whole or universal life products may be higher than their competitors, but term rates are comparable with the other major carriers.
- On-line calculators and a Learning Center are available to educate consumers on available products.
Fidelity Life
The retirement plan and mutual fund giant offers term life protection with policies of $250,000 and up. Fidelity is renowned for its superior on-line tools and they do not disappoint with their calculators and other planning tools for life coverage.
- Term life policy pricing is on par with MetLife making it an excellent premium value.
- Allows investors to add insurance to their portfolio keeping all assets with one company.
- Life insurance quotes are available on-line eliminating high pressure sales tactics.
- The calculators give users excellent information regarding what to look for in coverage. Even if consumers choose not to use Fidelity, these on-line tools can provide a wealth of information for purchasing the right coverage.
Prudential
"The Rock" rounds out the top five carriers for the best value for life insurance. Prudential’s business model promotes looking at the long-term needs of their policy holders and offers Term, Universal and Variable Universal Life products. Read also: The Benefits of Survivorship Life Insurance Policy.
- Prudential’s pricing is good and is similar to ING’s.
- The policies offer flexibility and good customer support.
- The on-line Education Center provides buying guides and needs calculators.
As with any purchase, it is a good idea to compare the best life insurance policies before buying. Determining needs and obtaining quotes from various insurers allows consumers to compare products, services and premiums before committing to a purchase that provides peace of mind.