The Best Life Insurance Companies of 2021: Protecting Your Loved Ones

Choosing the right life insurance policy can be a daunting task, especially with so many providers out there. Luckily, we’ve done the research for you and compiled a list of the best life insurance companies for 2021. Read on to learn about the top companies, their policies, and what sets them apart.

Table of Contents:

1. Comparison Table
2. Frequently Asked Questions
3. The Best Life Insurance Companies

• Primerica
• Haven Life
• Protective Life
• Transamerica
• MassMutual

Comparison Table

Note: Financial strength ratings are from A.M. Best, and customer satisfaction ratings are from J.D. Power.

Frequently Asked Questions

What is life insurance and why do I need it?

Life insurance is a contract between you and an insurance company that pays out a lump sum of money to your loved ones if you pass away. It’s important because it can provide financial security for your family, cover funeral expenses, and pay off any debts you may have.

What are the different types of life insurance?

The main types of life insurance are:

• Term life insurance
• Whole life insurance
• Universal life insurance
• Variable life insurance

What factors should I consider when choosing a life insurance policy?

Some factors to consider when choosing a life insurance policy include:

• Your age and health
• Your coverage needs and budget
• The company’s financial strength and customer satisfaction ratings
• The policy’s benefits and exclusions

How much life insurance coverage do I need?

The amount of life insurance coverage you need depends on your individual circumstances. Some factors to consider include:

• Your income
• Your debts and expenses
• Your dependents’ needs
• Your future financial goals

The Best Life Insurance Companies

1. Primerica

Primerica is a well-known life insurance company that specializes in term life insurance. They offer policies with coverage amounts ranging from $50,000 to $1 million, and their policies are renewable and convertible. Primerica has an A+ financial strength rating from A.M. Best and a 4.5/5 customer satisfaction rating from J.D. Power.

What sets Primerica apart is their unique approach to selling life insurance. Instead of using agents, they rely on a network of independent representatives who educate clients about their policies and offer personalized advice. This allows clients to make informed decisions about their coverage needs.

Overall, Primerica is a great choice for those looking for a straightforward and affordable term life insurance policy.

2. Haven Life

Haven Life is a newer life insurance provider that offers both term life insurance and guaranteed issue whole life insurance. Their policies are underwritten by MassMutual, which has an A++ financial strength rating from A.M. Best. Haven Life also has a 4.8/5 customer satisfaction rating from J.D. Power, which is one of the highest in the industry.

What sets Haven Life apart is their online application process. You can get a quote and apply for a policy entirely online, without having to speak to an agent. They also offer instant coverage decisions and competitive rates based on your age, health, and lifestyle.

If you’re looking for a hassle-free life insurance experience, Haven Life is a great choice.

3. Protective Life

Protective Life is a large life insurance provider that offers a range of policies, including term life insurance, universal life insurance, whole life insurance, and indexed universal life insurance. Their policies are customizable and offer a variety of riders and benefits.

Protective Life has an A- financial strength rating from A.M. Best and a 4.0/5 customer satisfaction rating from J.D. Power. They also have a strong online presence, with a user-friendly website and mobile app.

Overall, Protective Life is a good choice for those looking for a variety of policy options and customizable coverage.

4. Transamerica

Transamerica is another large life insurance provider that offers a range of policies, including term life insurance, whole life insurance, universal life insurance, and indexed universal life insurance. They also offer final expense insurance and accidental death insurance.

Transamerica has an A+ financial strength rating from A.M. Best and a 3.5/5 customer satisfaction rating from J.D. Power. They also have a unique approach to underwriting, with a focus on health and wellness. They offer a free digital health platform called Trendsetter that rewards policyholders for healthy behaviors.

If you’re interested in a life insurance policy that promotes healthy living, Transamerica is a great choice.

5. MassMutual

MassMutual is a large mutual life insurance company that offers a range of policies, including term life insurance, whole life insurance, universal life insurance, and variable life insurance. They also offer disability income insurance, long-term care insurance, and annuities.

MassMutual has an A++ financial strength rating from A.M. Best and a 4.5/5 customer satisfaction rating from J.D. Power. They also have a strong commitment to social responsibility and offer a variety of programs to support their policyholders and communities.

Overall, MassMutual is a great choice for those looking for a reliable and socially responsible life insurance provider.

Conclusion

Choosing the right life insurance policy is an important decision that can provide peace of mind for you and your loved ones. Whether you’re looking for affordable term life insurance or customizable whole life insurance, there’s a policy and provider out there that can meet your needs. Hopefully, this guide has helped you narrow down your options and find the best life insurance company for you.