Life insurance is quite a large business niche, so there are no shortage of good companies. Still, the best life insurance companies are ranked by several entities according to quantitative and qualitative analysis, and many of the top companies show up on several lists. The following are the top seven life insurance companies for 2014.
1. State Farm
State Farm provides a wide variety of insurance vehicles for people, including life insurance. They are known for their exceptional policies all the way around, and MSN Money gives them an A++ rating overall, noting exceptional value and financial strength of the company.
A company’s financial strength is definitely important when it comes to claims handling. This company has been around for a long time, and the only category in which State Farm lacked a star was customer service, though it still received a solid four stars.
2. New York Life Insurance Company
New York Life Insurance Company is another household name that provides many financial and insurance vehicles. This company is the strongest financially out of all the companies, and this is one reason why it comes in at #2.
3. USAA Life Insurance Company
This company is based out of New York and is also considered one of the best life insurance companies. USAA provides insurance vehicles to military members and their families, which has helped them gain the public’s trust. They are noted for their claim handling and customer service.
MetLife, while having a four star rating over all, comes in at number four. Expert analysts give MetLife an A+ rating for financial strength and value. Like State Farm, they too were given four stars for customer service.
Prudential is known as “The Rock,” and they have been providing life insurance policies for years. This is a company that not only has one of the best ratings but is very balanced. Across the board, concerning value, financial strength and customer service, this company ranks in between 4.5 and 5 stars.
6. Jackson National
Jackson National has an overall rating of 4.5 stars. While this name is widely-known, it’s not as known as say State Farm or Prudential. Still. this company was given an A+ rating and is actually #2 on MSN Money’s top life insurance companies list. For purposes of ranking in this article, it comes in at number six.
7. Northwestern Mutual
If it weren’t for the four stars in customer service, this company might actually top the list. Of course a few other companies still have a longer track record than Northwestern Mutual, who was given an A++ rating. With an overall 4.5 stars, it rounds out the top seven life insurance companies for 2014.
Everyone’s needs for life insurance are going to be different so your best bet is to get multiple life insurance quote from a website like www.waterwayfinancialgroup.com. While these ratings rank the best life insurance companies for 2014, you might find one of them caters to you better than another. A simple example would be your choice of one besides USAA if you are not a member of the military or a family member of someone who is or was enlisted.