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The 10 Best Life Insurance Companies for 2014

by Brian M on December 30, 2012 · 2 comments

The 10 best life insurance companies 2013, top 10 life insurance companies 2013

This post will go over the best life insurance companies for 2014 based on admitted assets.  So many life insurance companies have an online presence in 2014 that you may be unsure which companies are the best option, not only based on price but on financial stability.  With such an important decision, its necessary to have as much information as possible.

 

1. MetLife

 

 Established in 1868, MetLife is today the largest life insurer in the United States based on life insurance in force. The MetLife companies offer life insurance, annuities, auto and home insurance, retail banking and other financial services to individuals, as well as group insurance and retirement & savings products and services to corporations and other institutions.   MetLife is A+ “Superior” rated by A.M. Best.

 2.  Prudential of America Group

For more than 135 years, Prudential Financial, Inc., has helped individual and institutional customers grow and protect their wealth. Today, they are one of the world’s largest financial services institutions with operations in the United States, Asia, Europe, and Latin America. They also have one of the most recognized and trusted brand symbols: The Rock ®.  Prudential is A+ “Superior” rated by A.M. Best.

 

3. John Hancock-Manulife Financial Life Group

 

John Handcock began in 1862 they continue the tradition as a well-established financial services leader by operating as the U.S. unit of Manulife Financial, a leading Canadian-based financial services group serving the financial needs of millions of customers in 22 countries and territories worldwide.  John Hancock is A+ “Superior” rated by A.M. Best.

 

4.  AIG-SunAmerica Financial Group

American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States.  AIG is A “Excellent” rated by A.M. Best.

5.  TIAA Cref

 

TIAA was the vision of the philanthropist Andrew Carnegie — and founded in 1918 through his Carnegie Corporation of New York and the Carnegie Foundation with the goal of supporting the financial well-being of college teachers through a pioneering system of annuities and low-cost life insurance.   John Hancock is A++ “Superior” rated by A.M. Best.

*TIAA’s assets are significantly understated.  Most assets separate from CREF.

 

6. NY Life Group

 

The New York Life Insurance Company (NYLIC) is the largest mutual life-insurance company in the United States, and one of the largest life insurers in the world. The company was founded in 1845 as the Nautilus Insurance Company in New York City, and it was renamed the New York Life Insurance Company in 1849. NYLIC paid over $4 billion to beneficiaries in 2012.  New York Life is A++ “Superior” rated by A.M. Best.

   7.  Northwestern Mutual Group

 

The Northwestern Mutual Life Insurance Company provides various insurance and investment products primarily in the United States. The company offers life, annuity, disability, and long-term care insurance products to the personal, business, and estate markets. Its products comprise permanent, term, combination, universal, and variable life insurance products; disability insurance; long-term care insurance; and deferred and income annuities.  Northwestern Mutual is A++ “Superior” rated by A.M. Best.

 8.  ING USA Life Group

ING U.S. constitutes the U.S.-based retirement, investment and insurance operations of Netherlands-based ING Group. As a leading provider of financial products and services, both at the workplace and through an expansive distribution network of financial professionals.  he Retirement, Investment Management and Insurance businesses reach approximately 13 million retail and institutional clients and customers.  ING is  A “Excellent” rated by A.M. Best.

 

9. Transamerica-Aegon USA Group

 

The Transamerica Corporation is a holding company for various life insurance companies and investment firms doing business primarily in the United States. It was acquired by the Dutch financial services conglomerate AEGON in 1999. Transamerica is  A+ “Superior” rated by A.M. Best.

10.  Lincoln Financial Group

Headquartered in the Philadelphia region, Lincoln Financial Group is a Fortune 500 company offering a diverse range of financial services and solutions. With a strong focus on four core business areas — life insurance, annuities, retirement plan services, and group protection.  Lincoln has over 8,000 employees. Lincoln Financial Group is  A+ “Superior” rated by A.M. Best.

 

(The top 10 list is ranked by life/health admitted assets of 2011.)  Source U.S. combined life and health writers.  Best’s Review Sept. 2012. p33.  A.M. Best Company, Inc.  Excluded The Hartford from the #7 spot due to plans to exit from some of its life insurance business

 

{ 2 comments… read them below or add one }

Life Insurance James October 9, 2013 at 9:58 pm

You shouldn’t choose a life insurance company based just on lower prices. Having a life insurance company with stable financial asset should be more important.

Reply

Brian October 10, 2013 at 7:43 am

Thank you for the comment James but I disagree to a large extent. Life insurance is one of the few items you can purchase primarily based on price and not sacrifice quality. A.M. Best is the premier rating agency in America, and if you choose a company rated “A” (Excellent) or better for financial strength then you are with a company they have analyzed as secure. In addition, most of the companies on this list a A+ rated which is the second highest rating available and in the same category (superior) as MassMutual or Northwestern Mutual but often about a third or even half the price. In addition life insurance is one of the most regulated industry’s in the country. As a further safety net each state has a guaranty association in case an insurer become insolvent. Further, insurance is one of the most profitable businesses, so if an insurer didn’t become insolvent it is mostly that another larger insurer would purchase its book and the policy holder would not see a difference in their policy or coverage. Of course it would be nice to be with a mutual company with an A++ rating but often paying 50% more for the same exact coverage isn’t a smart financial decision for most people, especially family’s trying to stretch a dollar and get by. Also, a valid life insurance claim has never went unpaid in the U.S. so it does make sense for the majority of people to choose a life insurance company based on lower prices. Unlike auto or home insurance value assessments, life insurance is objective!

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