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Which is The Best Life Insurance?

Life -Insurance

There are a large number of insurance companies on the market.  Many of us can think of only the most well-known and established names.  Who has the time to research them all?  More importantly, how do I know which is the best life insurance for me? 

The best life insurance for one person is not necessarily the best for another. As with all commodities, it is on a case-by-case basis.  Factors such as type of policy, length of coverage, and health issues determine what is best for each person.  This is where BestTermLife.net comes in. After entering a few questions, the user will be provided with a personalized quote with several term life insurance options.  BestTermLife.net only offers the life insurance companies with the highest ratings from A.M. Best, from A-, A, A+, and A++.  A.M. Best is a credit rating organization since 1899 with criteria such as financial standing and credit worthiness. As noted by the name itself, the company notifies the public of what is “Best” in the insurance industry, aside from being the last name of Alfred M. Best, the organization’s founder.  A.M. Best is the longest running credit rating organization of its kind.  It ranks insurance companies not just in the US, but in Canada, United Kingdom, and the rest of the world.  Its coverage is the largest in scale worldwide.

There are two main types of life insurance: one is called term and the other permanent. For term life insurance, as the name implies, it covers only a specific “term” or period in your life. It could be 10, 15, 20, or 25 years. Term life insurance is highly recommended because it is affordable and gives flexibility over a specific time frame. You can choose to have a fixed, variable, or renewable premium.  You can also get one after age 70.

Permanent insurance is suggested if you will have estate tax liabilities after you die. Permanent insurance comes in three forms: traditional, universal, or variable. Traditional is when the dividend income of your plan can be used to either lower your premium, increase cash value (amount that can be withdrawn), or increase death benefits. Universal is the middle-risk type among the three. In place of traditional permanent life insurance’s dividend income, interest goes back to the plan which allows high or low possible premiums. The riskiest among the three is the Variable. This is when you invest some of your premium in investment vehicles such as mutual funds, money market funds, etc. You would have not have cash value for your plan in this type.

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Life insurance policies described, quoted, shown and illustrated throughout this website are not available in all states and may include those issued by: Allianz Life Insurance Company of North America, Minneapolis, MN and Allianz Life Insurance Company of NY, New York, NY are both members of Allianz Insurance Group, Minneapolis, MN; American General Life Insurance Company, Houston, TX; The United States Life Insurance Company in the City of New York, New York, NY, member companies of American General Life Companies; Assurity Life Insurance Company, Lincoln, NE; Aviva Accordia Life is a subsidiary of Global Atlantic Financial Group, West Des Moines, IA; Aviva Life and Annuity Company of New York, Melville, NY; American National Insurance Company, Galveston, TX; AXA Equitable Life Insurance Company (New York,NY); Banner Life Insurance Company is a subsidiary of Legal & General Group, Plc, London, UK; Legal & General America, Frederick, MD; Banner Life Insurance Company, Urbana, MD; William Penn Life Insurance Company of New York, Garden City, NY; Equitable Life and Casualty Insurance Company, Salt Lake City, UT; Fidelity Life Association, A Legal Reserve Life Insurance Company, Oak Brook, IL; First Central National Life Insurance Company, New York, NY and Household Life Insurance Company, Detroit, MI, member companies of HSBC Insurance; Genworth Life and Annuity Insurance Company, Richmond, VA and Genworth Life Insurance Company of New York, New York, NY, only Genworth Life Insurance Company of New York is admitted in and conducts business in New York, member companies of Genworth Financial, Inc.; Gerber Life Insurance Company, White Plains, NY; Great West Life and Annuity Insurance Company, White Plains, NY; Integrity Life Insurance Company, Cincinnati, OH and National Integrity Life Insurance Company, Goshen, NY are both members of Western & Southern Financial Group, Cincinnati, OH; John Hancock, Boston, MA; Liberty Mutual Insurance, Boston, MA; Lincoln Life & Annuity Insurance Company of New York, Syracuse, NY and The Lincoln National Life Insurance Company, Fort Wayne, IN, both insurance company affiliates of Lincoln National Corporation, whose marketing name is Lincoln Financial Group; MassMutual Life Insurance Company, Springfield, MA; First MetLife Investors Insurance Company, New York, NY, MetLife Investors USA Insurance Company, Irvine, CA and Metropolitan Life Insurance Company, New York, NY, all three members of the MetLife family; North American Company Life & Health, Chicago, IL and North American Company Life & Health of NY, Garden City, NY are both members of Sammons Financial Group, Chicago, IL; Principal Life Insurance Company, Des Moines, IA; Protective Life and Annuity, Birmingham, AL; Minnesota Life, St. Paul, MN; Pruco Life Insurance Company, Newark, NJ and Pruco Life Insurance Company of New Jersey, Newark, NJ, member companies of Prudential Financial, Inc., Newark, NJ; Prudential Financial, Newark, NJ; ReliaStar Life Insurance Company, Minneapolis, MN, ReliaStar Life Insurance Company of New York, Woodbury, NY and Security Life of Denver Insurance Company, Denver, CO, member of the ING VOYA family of companies; Securian Life Insurance Company, St. Paul MN; Symetra Life Insurance Company, Belluvue, WA; Transamerica Life Insurance Company, Cedar Rapids, IA; First Symetra National Life Insurance Company of New York, New York, NY; Vantis Life Insurance Company, Windsor, CT.

 

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