Life insurance policies help provide security to either you or your beneficiaries after you pass away or after a designated period of time. With a life insurance policy from Nationwide, you can help secure your family’s financial future by paying for college, paying off a mortgage, covering any final expenses or estate taxes, and more. Getting a good deal these days is hard to come by hence, we drafted a list of the top ten best Insurance Companies in the US in 2021.
The top ten Best Insurance Companies in the US
- 1 The top ten Best Insurance Companies in the US
- 2 What is Life Insurance?
- 3 Read Also: Free Catfish Business Plan
- 4 Top ten Best Insurance Companies in the US
- 5 1. Northwestern Mutual
- 6 2. Haven Life
- 7 3. State Farm
- 8 4. Banner Life
- 9 5. Principal
- 10 6. Pacific Life
- 11 7. Guardian Life
- 12 8. Nationwide Life Insurance
- 13 9. Primerica
- 14 10. Mass Mutual Insurance
- 15 Conclusion
- 16 Types of life insurance
- 17 Common life insurance questions
1. Northwestern Mutual
2. Haven Life
3. State Farm
4. Banner Life
6. Pacific Life
7. Guardian Life
Before we delve in properly into the best insurance companies in the US, lets understand what life insurance is all about.
What is Life Insurance?
Life insurance policies like we stated earlier, help provide security to either you or your beneficiaries after you pass away or after a designated period of time may be due to retirement or inability to continue work.
Life insurance is very necessary for anyone in the society, especially those who have people dependents, be it for money, food or shelter, which is basically the immediate needs of mankind. Many people in the world today do not have access to insurance. According to USNews, about half of all US houses have less life assurance than they normally should, and this is embarrassing to say the least. A separate study by employee benefits provider Unum finds that about a third of all households will be financially strained within the first month of losing a breadwinner.
The good news is that life insurance doesn’t cost as much as you might think it does. Some people even estimate that life insurance costs up to five times as much as it actually does, reports the Insurance Information Institute (III).
Many people in the society, especially young adults, do not see the need to be insured or do not have access to basic insurance requirements, hence this article to rank the ten best insurance companies in the United States of America. Being insured gives you quality time to focus on other life issues and not bother with being too careful even though being careful is necessary.
Read Also: Free Catfish Business Plan
What are the benefits of insurance or being insured?
A good insurance policy has the following benefits.
1. Affordability: A good insurance package is affordable, to say the least. Most citizens, it has been noted, run far away from insurance companies due to the high cost of an insurance policy.
2. Security: A good insurance policy comes with high level security. Security is a basic need for mankind, it is a state of being secure and free from threats. A good insurance policy gives you a sense of security in that when anything goes wrong, the insurance companies step in immediately.
3. Peace of mind: Imagine going on vacation without worrying of a lost car or accident? That is what insurance offers you in both the long and short term. You go to work, vacation or any function with peace of mind, knowing you are very much covered.
4. Access to affordable health care: In the case of health insurance, you have access to affordable health care and health information to keep you healthy and beyond the reach of deadly diseases, sounds great, right?
5. Ability to find close help: If insurance does not give you anything, it gives you the ability to find close and immediate help, so beautiful and lifesaving you may say.
Without wasting more time, let’s delve into our topic of discussion, the best insurance companies in the US.
Top ten Best Insurance Companies in the US
Below is a list of the top ten Best Insurance Companies in the US in 2021
Northwestern Mutual is an American financial services mutual organization based in Milwaukee. The financial security company provides consultation on wealth and asset income protection, education.
What you stand to gain from Northwestern Mutual
• A personalized plan that brings all aspects of your financial life together
• A strategic mix of insurance and investments working together for your goals
• Your go-to financial expert who helps keep your big picture, and dreams, in focus
Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company and its subsidiaries. Life and disability insurance, annuities, and life insurance with long-term care benefits are issued by The Northwestern Mutual Life Insurance Company, Milwaukee, WI (NM). Long-term care insurance is issued by Northwestern Long Term Care Insurance Company. The northwestern Mutual Insurance company has continued to make a mark in the United States and has been in the top 4 best insurance companies in the US for at least the past 4 years. Northwestern Mutual also has more than 160 years of experience in financial services and other related services. It offers a variety of plans and has more than 6,400 financial advisors and professionals nationwide.
2. Haven Life
Haven Life offers high quality methods to buy life insurance at affordable rates online without hassle. Haven Life has a team made up of diverse professionals dedicated to delivering high quality service. This, stands Haven Life out among other competitors in the Insurance Market. Haven Life, co-founded in 2014 by Yaron Ben-Zvi and headquartered in New York City, is a relatively new addition to the insurance market but in the shortest time, have done so much to make this list and take our top 2 spot. Haven Life offers term life insurance online, with a streamlined application process that takes about 25 minutes. Registering for an insurance policy on haven’t life is easy as every process can be completed online by the applicant without having to interact with the professionals.
3. State Farm
State Farm can boast of 100-year experience in the insurance business, and this stands them out and gives them an edge over competitors. State Farm offers a variety of services which include terms, Whole and Universal life insurance policy option for users. State Farm Insurance helps you protect what matters most. With State Farm, you get protection with a variety of services which include home & car insurance, checking & savings accounts, loans, and many more. Among other things, State Farm has a beautifully designed mobile app. With the State Farm® mobile app, you can manage your insurance and other products, request roadside assistance, file and track claims, etc. State Farm insurance is also pricey and affordable for the average user; hence, it made our list of the top ten best insurance companies in the US.
4. Banner Life
Banner Life, known as William Penn Life insurance Company, have been in the business of protecting Americans with life insurance for more than 70 years, and this is quite a long time to be in business. For longevity, Banner Life makes our list of the top ten best insurance companies in the United States for 2021.
Banner Life Insurance offers two types of life insurance policies: term and universal. These policies provide different levels of coverage to meet the need for the populace and meet up with the demands of the 21st century.
With Principal Life Insurance, you insure what you have, invest when you are ready and retire with confidence. The principal has a lot of algorithms and calculators that can help you make a wise choice of investment plans in order to know your strengths and weaknesses and where and when you can function effectively. Principal was founded in 1879 as an insurance company. Today, they’re a member of the FORTUNE 500® and a global investment management leader.
Retiring with some benefits is worth the years put in to work, isn’t it? With a philosophy, you get to live like a boss in the twilight of your career. At least those bogus promises got them into our top 10 best insurance companies in the US.
6. Pacific Life
Pacific Life Insurance has been in existence for more than 150 years, helping individuals and families through a wide range of life insurance policies.
Guardian Life Insurance has a lot of packages, ranging from health which includes cancer, dental insurance, wealth insurance, accident insurance and a host of others.
Why is Guardian Life in our top 10 best insurance companies in Us?
Guardian Life has a lot of amazingly enticing packages and claims to put the interest of the customers first. Who wouldn’t fall for that? Whether you are in Chicago or Ohio, that is not a problem, Guardian Life has you covered. For experience sake, Guardian Life has also been in business for more than 160 years, quite a long time to build trust.
Guardian Life Insurance has been helping people protect their future and secure their lives for more than 160 years. Every day, they serve 29 million people by helping them and their families pursue financial confidence and well-being in life, health, and wealth. Guardian Life also helps families find financial confidence and helps people plan for retirement. For companies, Guardian Life helps them take care of their employees and also help both recover and thrive in times of unexpected loss.
With a life insurance policy from Nationwide, you can help secure your family’s financial future by paying for college, paying off a mortgage, etc. Nationwide offers a range of packages which include the Whole of Life, Term Life, Universal Life, Life Insurance, etc. As the name implies, Nationwide covers the whole of the United States with special and real-time services rendered at an affordable rate.
Life insurance policies help provide security to either you or your beneficiaries after you pass away or after a designated period of time. With a life insurance policy from Nationwide, you can help secure your family’s financial future by paying for college, paying off a mortgage, covering any final expenses or estate taxes, and more.
Primerica, Inc. provides insurance, investment and financial services to middle income families in the United States and Canada. It has been described as a multi-level marketing company. Primerica’s headquarters are located in Duluth, Georgia.
Primerica is a life insurance company that focuses on providing term life insurance. Primerica began offering term life insurance in 1977. Primerica offers additional financial products and services through its partners, such as auto and homeowners insurance. Primerica: Specialized in term life insurance… Primerica offers term life insurance products. Its Terms Now policy comes with a $300,000 maximum. Long-term Life Insurance. Primerica offers cost-effective term life insurance to help you protect your family in the years when they need it most.
MassMutual offers life insurance and protection products, retirement and investment services to help you meet your financial goals. In general, MassMutual’s long history and expertise across a variety of financial planning products make the company an especially good choice for customers with complex financial needs. … With a score of 3.9 out of five, MassMutual is rated No. 7 in our list of the Best Life Insurance Companies of 2021.
Types of life insurance
There are two main types of life insurance – term life insurance and permanent life insurance. Term life insurance simply covers you for a specified amount of time (10, 20, and 30 year policies being the most common). Permanent life insurance can be broken down into three types: universal, whole, and variable.
Term: Term life insurance can be used to replace lost income. This can provide a safety net for your family and help them meet their financial goals. Universal: Universal life insurance offers flexible payment options, death benefits and cash value. Whole: Whole life insurance can be used as an estate planning tool to help preserve the wealth you plan to hand down to your beneficiaries. Variable: Variable life insurance offers whole life protection and an investing component similar to a mutual fund.
Common life insurance questions
Who needs life insurance?
Generally speaking, if you have dependents or are married, your family can benefit from you having a life insurance policy. Life insurance offers peace of mind by ensuring that your loved ones will be taken care of in the event of your untimely death. Plus, payouts are tax-free.
Why should I get coverage now?
Rates tend to go up as you age. Buying a policy when you’re younger lets you lock in a lower rate.
How much life insurance do I need?
This depends on what you want to leave when you’re gone. There are two common methods for calculating the amount of life insurance you need: lump sum and income replacement.
How much does life insurance cost?
The cost of your life insurance policy is dependent on a variety of different factors, ranging from your age, gender, location, and health.
What is term life insurance?
“Term” refers the length of coverage that you choose. If you pass away during the term (usually 10, 20 or 30 years), your beneficiaries receive a cash payout.
Why is term life a good option?
With term life insurance, you’re only paying for the years where the need is greatest (when your kids are younger or in college), and it is usually the most affordable type of insurance.
Is my policy through work enough?
Life insurance through your employer is not portable, so it won’t come with you if you leave the job. Also, the amount is often not enough to meet people’s protection needs.
What is permanent life insurance?
Permanent life insurance falls under three types of policies: whole, universal, or variable. These policies cover your entire life and usually build cash value over time, but tend to be more expensive than term life insurance.
That is all we can take on the list of the top ten Best Insurance Companies in the US in 2021.