![]() ![]() Guardian was founded in 1860 in New York City, and its headquarters are still there. It doesn’t offer an online application process (without an agent), online claim filing, or credit card payments, and information on its individual product offerings is hard to find, making it difficult when comparing life insurance plans. But if you’re seeking a streamlined online experience, Guardian falls short. Additionally, the company offers no-exam policies to eligible applicants. Guardian Life received an excellent NAIC index over the past three years, indicating it has fewer complaints with the NAIC than expected for a company of its size. For these reasons, it ranked highly among the best whole life insurance companies, best life insurance companies for people over 50, and best senior life insurance companies. Also like MassMutual and New York Life, Guardian offers dividends to eligible whole-life policyholders and announced its largest dividend payment ever for 2024. In October 2023, it announced a pilot program in which new term life policyholders could earn cash incentives of up to 5% of their annual policy premiums by using an app to track their physical activity and sleep data.Īlong with MassMutual and New York Life, Guardian is one of only nine companies we reviewed to earn a top financial strength rating of A++ from AM Best, reflecting superior financial stability. MassMutual was founded in Springfield, Massachusetts and has offices in Boston and New York City. (Convertible term life insurance allows you to exchange some or all of your term coverage for permanent without having to re-qualify for life insurance.) This is important because some companies limit the types of policies you can convert your term policy into. It’s worth noting that many MassMutual term policies can convert to any of MassMutual’s permanent life policies. Plus, the company has received far fewer complaints than expected for a company of its size, according to the NAIC, and offers a wide range of policy types. ![]() In 2024, MassMutual plans to pay $2.2 billion in dividends, which is its largest payout ever. MassMutual’s dividend-paying history also adds to its clout: Every year since 1869, eligible policyholders have received life insurance dividends. This is the highest rating a company can receive and indicates a “superior” ability to pay claims. It has an A++ (Superior) financial rating from AM Best. MassMutual stands out for a number of reasons. Protective Life is headquartered in Birmingham, Alabama, and has offices in the Greater Cincinnati, Ohio area and St. Power rankings are based on five factors: communication interaction price product offerings and statements. This is an indication that you may have issues with Protective's customer service, as J.D. Individual Life Insurance Study, coming in at #18 out of 22 companies. However, Protective did not rank well in J.D. The company also offers generous child riders on its policies, which makes it a good life insurance company for children. Protective offers longer-than-average term policies and it received fewer complaints than expected for a company of its size over the past three years. ![]() Its excellent pricing and policy options make it our pick for best term life insurance company, most affordable life insurance company, and best life insurance companies for young adults. Nationwide's life and annuity products are issued by Nationwide Life Insurance Company or Nationwide Life and Annuity Insurance Company, Columbus, Ohio.įounded in 1907, Protective has the cheapest term life coverage of all the companies we reviewed (along with Banner). ![]() Its host of exceptional features puts it squarely at the top of our best life insurance companies list. This was a rare offering among the insurance companies we considered. It boasts a wide range of policy types and riders, no-exam life insurance for healthy applicants, and most policies include three accelerated death benefit riders at no upfront cost for chronic, critical, and terminal illnesses. The company garnered an A+ (Superior) financial stability rating from AM Best and had the number of complaints you'd expect for a company of its size in 2022 (the most recent year for which data is available), though the two prior years saw fewer complaints. It's also our top pick for best whole life insurance companies, best no-medical-exam life insurance companies, and best life insurance companies for people over 50. It offers a wide range of policies that may be available without a medical exam and with fast approval. Nationwide is a financially stable life insurance company that's been in business for nearly a century. ![]()
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