Consumers Say These Are the 10 Best Life Insurance Companies

African American 3-generation family
Photo by Monkey Business Images / Shutterstock.com

It’s not much fun to think about life insurance. But preparing for the day when you shuffle off this mortal coil is a good idea for many of us, especially if you have dependents.

Life insurance can provide funds for surviving family members or other loved ones to cover major costs ranging from mortgages and college tuition to your funeral expenses.

Finding the right life insurance provider can be an intimidating prospect for many people. Recently, J.D. Power offered help to those shopping for a policy when it released the findings of its latest Life Insurance Study, which measures customer satisfaction among life insurance providers.

J.D. Power measured satisfaction in four areas:

  • Annual statement and billing
  • Interaction
  • Policy offerings
  • Price

J.D. Power then used a 1,000-point scale to assign a score to each company based on the findings.

According to the survey, the top 10 insurers are:

  • State Farm: 825 points
  • Northwestern Mutual: 812
  • Nationwide: 810
  • MetLife: 793
  • Mutual of Omaha: 792
  • New York Life: 791
  • Protective Life: 791
  • Prudential: 784
  • Pacific Life 783
  • MassMutual: 781

Those 10 insurers were the only companies in the survey to beat the industry average of 779 points.

The study data included responses from 5,391 individual life insurance customers.

Do you need life insurance?

Though life insurance can be a great product, it’s not for everybody.

As we note in “7 Questions You Need to Ask Before You Buy Life Insurance“:

“If you have no spouse or dependents, a life policy might not be necessary. Also, if you have enough financial resources to provide for your dependents if you died unexpectedly, buying life insurance may be a waste of money.”

Going through the list of questions in that story will help you determine if you need a policy — and, if so, which type of coverage you should buy, and how much coverage you would need.

Another Money Talks News story, “How to Save on Every Type of Insurance,” can help you drill down further on the type of coverage you need. As the story explains, life insurance comes in two main varieties: term life and whole life.

Term life is the better choice for many people. As we write:

“Term life insurance covers you for a fixed period of time and pays a death benefit if you die during that period. That money is tax-free, and your beneficiary can do whatever he or she wants with it.”

By contrast, a whole life policy will likely cost you more money, although it does offer advantages that might appeal to some people.

Do you have an opinion about life insurance? Sound off in comments below or on our Facebook page.

How to find cheaper car insurance in minutes

Getting a better deal on car insurance doesn't have to be hard. You can have The Zebra, an insurance comparison site compare quotes in just a few minutes and find you the best rates. Consumers save an average of $368 per year, according to the site, so if you're ready to secure your new rate, get started now.

Beware These 5 Common Work-From-Home Scams
Beware These 5 Common Work-From-Home Scams

You can spot scammers and con artists with a little know-how.

Secret Ways to Save on Netflix
Secret Ways to Save on Netflix

These little-known savings tactics can help whittle down what you pay for your streaming video subscription — every month.

15 Purchases That Make Life Easier As You Age
15 Purchases That Make Life Easier As You Age

There are many products that can make getting older — or any time of life — a little easier.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Add a Comment

Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.