The Best Life Insurance Companies Of 2022

Are you still confused on the best life insurance companies of 2022 to register in other to give your life a befitting security by registering with the most recommended life insurance company in the whole world. If yes, then we recommend this page of article for your required information about life insurance.

Life insurance will cover your dependent by paying them a death benefit if you pass away. A death benefit is a sum of money that your beneficiaries receive if you die during your policy. There are two types of life insurance: permanent life and term life. This article focuses on the best term life insurance companies because term life insurance is the most affordable option for most people.

Below, you’ll find our selection of the best life insurance companies for 2022. We’ve called out their distinctions, along with the various types of policies and premiums they provide.

1. State Farm

While probably better known for auto and home insurance, State Farm also offers life insurance coverage. It ranked first place in customer satisfaction. Policy purchase can be done on your own and online and has no medical exam options.

  • Return of premium term life insurance —Get a refund on premiums if you outlive the policy.
  • Instant answer simplified life insurance — This type of life insurance doesn’t require a medical exam.
  • Universal survivorship life insurance is a policy for married couples known as “second to die” because it doesn’t pay death benefits until both parties die.
  • Universal joint life insurance — A policy for married couples or business partners known as a “first to die” because it pays the death benefit when the first person dies.

2. Northwestern Mutual

Northwestern Mutual Life has been around since 1857. It ranked third place for customer satisfaction by J.D. Power with strong financial stability. The emphasis is on the right coverage for your needs and where you are in life, so policy must be purchased through an advisor and will likely require a medical exam.

  • Term life — Covers you for a set amount of time such as 10, 15, or 20 years, and once that term ends, so does your policy.
  • Whole life — Offers a death benefit and cash value that lasts your lifetime no matter which way the markets go.
  • Universal life — Offers a death benefit and cash value based on interest rates and lasts your lifetime.
  • Variable universal life — Offers a death benefit and cash value invested in the markets so you can have the chance to boost its growth over time. It also lasts your lifetime.
  • Long-term care insurance — Covers cost like in-home care, assisted living, and nursing home care, not usually covered by insurance.

3. New York Life

As the second-largest life insurance company in the US, New York Life is well known with top marks for financial stability and customer satisfaction. The emphasis is on the right coverage for your needs and where you are in life, so policies must be purchased through an agent and require a medical exam.

  • Term life — Covers you for a set amount of time such as 10, 15, or 20 years, and once that term ends, so does your policy.
  • Whole life — Offers a death benefit and cash value that lasts your lifetime no matter which way the markets go.
  • Universal life — Offers a death benefit and cash value based on interest rates and lasts your lifetime.
  • Variable universal life —  Offers a death benefit and cash value invested in the markets so you can have the chance to boost its growth over time. It also lasts your lifetime.
  • Long-term care insurance — Covers cost like in-home care, assisted living, and nursing home care, not usually covered by insurance.

4. Nationwide

Nationwide is most known for bundling its auto, homeowners, and insurance products. Ranked second in customer satisfaction with a good financial stability rating. Cheapest quote for our sample premium and online tool to get premium quotes.

  • Term life insurance — Guarantees conversion to any permanent life insurance product up to age 65 with no five-year window.
  • Intelligent underwriting program — Accelerated underwriting for ages 60 and under with coverage up to $250,000.
  • Express issue — A simplified issue no medical exam life insurance policy for under $100,000 in coverage for ages 70 and under.
  • Care Matters — A hybrid long-term care life insurance product.

5. MassMutual

MassMutual has been in business since 1851. They have good customer satisfaction marks and excellent financial stability. They also give free life insurance to healthcare workers during the coronavirus pandemic. Policies must be purchased through an agent and require a medical exam.

  • Term life — Covers you for a set amount of time such as 10, 15, or 20 years, and once that term ends, so does your policy.
  • Whole life — Offers a death benefit and cash value that lasts your lifetime no matter which way the markets go.
  • Universal life — Offers a death benefit and cash value based on interest rates and lasts your lifetime.
  • Variable universal life —  Offers a death benefit and cash value invested in the markets so you can have the chance to boost its growth over time. It also lasts your lifetime.
  • Long-term care insurance — Covers cost like in-home care, assisted living, and nursing home care, not usually covered by insurance.

6. Guardian Life

The Guardian Life Insurance company has longevity like Northwestern Mutual and has been around since 1860. It received top marks for financial security ratings from A.M. Best. Guardian life also has an online calculator for premium quotes, but you will need an agent to purchase a policy.

  • Term life — Covers you for a set amount of time such as 10, 15, or 20 years, and once that term ends, so does your policy.
  • Whole life — Offers a death benefit and cash value that lasts your lifetime no matter which way the markets go.
  • Universal life — Offers a death benefit and cash value based on interest rates and lasts your lifetime.

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