Best Whole Life Insurance Companies

Choosing the right life insurance company can be one of the most important decisions you’ll make in your lifetime, and it can have an impact on your loved ones long after you’re gone. With so many options out there, choosing just one company to provide you with all of your life insurance needs might seem daunting—but it doesn’t have to be! These comparisons of some of the best whole life insurance companies will help you compare costs, policy features, and customer satisfaction ratings to find exactly what you need to keep your family protected and secure long after you’re gone.

Best whole life insurance companies comparison Overview

Based on professional opinions, there are four whole life insurance companies that stand out from their peers. New York Life, AIG, Northwestern Mutual, and MassMutual are the best whole life insurance companies currently available. We’ve put together a comparison chart of these four whole life insurance companies for you to read more about each company and which is most suitable for your particular situation. You can also compare these whole life insurance companies with other companies in our list of whole life insurance reviews. Please take some time to review our detailed comparison charts before making your decision—you may find it very helpful.

New York Life insurance company profile

The New York Life insurance company was founded in 1845. The company has over 5,500 employees and assets of $56 billion. It offers whole life insurance policies, fixed and variable annuities as well as supplementary health insurance products. New York Life has a claim satisfaction rating of A+ from its customers in 2013. The company is ranked among the top ten best overall life insurance companies.

The New York Life’s performance in various categories: Reliability-A+++, Customer Service-A+, Ease of Operation-A+. The benefits of having a policy with New York Life are that it can be easy to start and control your policy online and you can build up your cash value tax-free which makes it available to borrow against if needed.

Pros & Cons

A life insurance policy is essentially a death contract between you and an insurance company. The life insurance company agrees to pay out a specific amount of money to your beneficiaries if you die during your term period, in exchange for you paying them premiums and being covered by their policies. Pros: If you die during your policy’s term period, a whole life policy will help protect your family from financial stress by ensuring they have enough cash to pay off any debt, cover funeral costs, etc.

American International Group (AIG) insurance company profile

AIG’s roots trace back to 1919 when Cornelius Vander Starr established a tiny firm in Shanghai that specialized in insuring China’s foreign community. As chairman of AIG for nearly half a century, he would oversee its transformation into one of America’s leading insurance companies. Today, it has expanded into more than 130 countries and maintains offices around the globe.

Although it offers coverage options ranging from auto and property insurance to life, disability, and long-term care plans, property/casualty (P/C) insurance is still its bread-and-butter service line. [3] In 2014 alone, according to AIG’s most recent annual report [4], P/C policies accounted for $21 billion of its $66 billion in revenue. During that same year, according to Fortune magazine [5], net income totaled $7 billion.

Northwestern Mutual insurance company profile

Founded in 1849, Northwestern Mutual is one of America’s oldest mutual life insurance companies. Today, it’s a Fortune 500 company with a strong reputation for customer service and financial strength. It has over $112 billion in assets and over 6 million clients. The Company is based in Milwaukee, Wisconsin. Customer satisfaction surveys are conducted by an independent auditor to ensure that Northwestern Mutual consistently delivers on its promise to treat every client like family.

For example, if an agent makes a mistake or violates policy guidelines, a client has 45 days from their renewal date to tell them about it without being penalized for non-disclosure or locked into another term. All new policies come with a Cooling Off Period where you can cancel your contract within three days of your purchase and get back any premiums paid.

Nationwide insurance company profile

The company ranked #7 on Fortune Magazine’s 2016 list of America’s largest corporations, with assets exceeding $115 billion. Nationwide Mutual Insurance Company employs almost 9,000 people and is based in Columbus, Ohio. The company offers a wide range of insurance products—including auto, home, life, and business—and has received numerous awards for its customer service and financial strength.

MassMutual insurance company profile

MassMutual is an insurance company with over 150 years of service to its customers. Like most insurance companies, it provides life insurance and other services, but MassMutual also offers a variety of additional financial products, such as annuities and mutual funds. Founded in 1843 by a group of local businessmen in Springfield, Massachusetts, MassMutual has grown into one of America’s largest providers of retirement services—and it’s still growing today.

Transamerica insurance company profile

Transamerica Life offers whole life insurance. The company was founded in 1894 and is based in New York, NY. Transamerica has an A rating with AM Best and a Financial Size Category of IX. On March 31, 2015, Transamerica had total assets of $72 billion and total liabilities of $59 billion. The company had 33 employees on March 31, 2015. Transamerica offers term life insurance. Transamerica also provides coverage for disability income (DI), critical illness (CI), accident and health, vision care, dental care, financial planning, and pension products through its subsidiaries.

Mutual of Omaha insurance company profile

The Mutual of Omaha insurance company was founded in 1883 by two brothers. They began with a $500 loan from their mother and started selling life insurance policies to farmers in Nebraska, who faced high risks from severe weather and hazardous working conditions. Today, Mutual of Omaha sells general insurance coverage, including life, health, auto, home, business, and property insurance. The company is based in Omaha, Nebraska, and has more than 3 million customers around the country.

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