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America's Top 5 Best Life Insurance Companies for Customer Satisfaction and Protection

All the life insurance companies or agencies available out there aren't good enough to get you insured exactly the way you want or expect and not all of them have a certain amount of portfolio management reputation.

Do you know the life insurance business is the most popular insurance business?

If you look at the world's insurance business companies one thing is very obvious and quite certain. The Life Insurance business is the biggest and most popular insurance business all over the world. More than 80% of the insurance business is connected with the life insurance business in any country.

Why Life Insurance business is very profitable and popular?

The reason is that the life insurance agencies offer their customers a good amount of money if they die within the insurance period to their nominee.
Alongside most life insurance policies also pay a certain amount of money to the insured person after the expiry of the life insurance period.

We the human are so fearful of death and concerned about our loved ones, so we want them to have a secure life and financial coverage when we're not here for them.
For this reason, most of us think that we should leave something for our beloved ones while we won't be here to support them financially.

So we do undertake life insurance policies for our benefit, but in most cases and nearly more than 80% of the insured persons don't die within the insurance period.
So the life insurance companies don't have to pay the biggest amount of money for the unwanted death that was in the contract. In those cases, they just pay their customers or insured persons the total premium that the customers paid to them with an extra benefit.

So when the insured person remains alive the total amount of money the insurance company has to pay isn't so big enough like for the dead person. That's how most of the companies get the chance to make an enormous profit due to the uncertainty and portfolio management.

Life insurance has 2 different consequences for the insured person and for the insurance premium he or she pays to insurance agencies.

1. Death of the insured person
2. Insured person is alive after the expiry of the insurance period.

In both cases, we the customers will definitely want to be benefited at most from our insurer. So we'll consider the sum the insurance agencies are willing to pay in both cases and we'll also consider the transparency of the insurance contract and customer service.

So what are things to be set as standards for ranking the 5 best life insurance companies in the USA?

We'll measure or consider customer satisfaction, financial coverage, rate of returns, etc. to give you this list of America's top 5 best life insurance companies you can rely on for getting the best support.

The 5 Best Life Insurance Companies in the USA are:

1. New York Life

There are a lot of people who will say Prudential should be the best. But considering the rating and insurable ages, we decided to place "New York Life" at the top. 0 to 90 years old can get their life insurance policy from "New York Life" insurance company and they have 4 most common types of life insurance coverage in New York Life Insurance.

It's an (A++) rated insurance company that has a balanced and excellent financial coverage strength with a diversified portfolio. And even the "New York Life" insurance company managed to gain the 6th spot in J.D. Power 2020 U.S. Life Insurance Study.

2. Northwestern Mutual

Northwestern Mutual insurance company has gained a superb-quality based life insurance company's reputation for their life insurance policies. It's also an (A++) rated insurance company that has 3 different types of life insurance policies. And they only insure 18 to 80 years old people with their life insurance policies.

The best news about Northwestern Mutual insurance company is that in 2020 they paid approximately $6.2 dividends to their insurance policyholders. So they are very reliable and have gained good customers satisfaction for their service. But you must have a financial advisor before you sign up for a policy.

3. Mutual of Omaha

"Mutual of Omaha" insurance company was founded in 1909. It's quite newer than the first 2 insurance companies we talked about. But that doesn't make it less worthy. One of the good things about this company is that it also offers life insurance policies for 0 to 85 years old people. Mutual Omaha insurance company has 4 types of life insurance policies for their customer.

It does have an A+ rating from AM Best and S&P Global. Mutual Omaha has whole life insurance policies for their customer with no medical exam if the applicants seem suitable for them.
That means you won't have to give a ton of medical tests' results in order to apply for the whole life insurance coverage.

Mutual Omaha insurance company had gained the 5th position with no surprise at all in the 2020's JD Power U.S. Life Insurance Study. They have gained good customer satisfaction over the years for their reliable service with an excellent financial coverage strength.

4. State Farm

State Farm insurance company was founded by a retired farmer in 1922 with a tiny beginning. But it has been growing over the years offering a wide range of insurance policies nowadays. State Farm insurance company has gained an excellent rating for serving with strong financial support and customer satisfaction.

State Farm has gained A++ ratings from AM Best and has 3 types of life insurance policies. Its life insurance policies are available to 18 to 75 years old people. State Farm insurance also supports instant life insurance policy issuing for term life insurance coverage without any prior medical test.

5. Prudential

Prudential insurance company is one of the largest and oldest insurance companies in the U.S. It was established in 1873. Prudential Insurance company is available to their customers with 4 types of life insurance policies and an A+ rating. They offer insurance policies to 18 to 75 years old people along with instant issuing of term life insurance coverage.

They also have great financial support and coverage for their customers and gained sound reliability for customer satisfaction. Prudential insurance company has indexed universal life insurance, variable universal life insurance, term life insurance, and universal life insurance policies that ensure accidental death benefit and living needs benefit.

So these are the top 5 best American life insurance companies we studied and found that all of them have good quality customer protection support and gained trust and reliability from their customers.