Best Life Insurance Companies Within The U.S.

Best Life Insurance Companies Within The U.S.

MassMutual tops our list of the simplest life assurance companies, followed by big names like Haven, Guardian, AARP, and Fabric. The life assurance market within the U.S. is competitive, made from a mixture of longstanding insurers and newer "insurtechs" that sell policies online. We checked out customer complaints data, consumer experience, and financial strength to narrow down our list of the simplest life assurance companies. We also assessed the kinds of policies on offer and, therefore, how you'll buy coverage. Based on these variables, these are our top life insurance companies for 2022. Why you'll trust Us: Our writers and editors follow strict editorial guidelines to ensure the content on our site is accurate and fair. You'll make financial decisions confidently and choose the products that employment best for you.

Best life assurance companies of May 2022

All of the life assurance companies listed below scored a minimum of 4.5 out of 5 stars. Many insurers are competing for your business, often selling very similar products, so it's wise to urge life assurance quotes from a couple before choosing.
Insurance company Policy types
MassMutual The term is whole, universal, and variable universal.
Haven Life Term.
Guardian The term is whole and universal.
AARP Term and whole.
Fabric Term.
New York Life The term is whole, universal, and variable universal.
Pacific Life The term is whole, universal, variable universal, and indexed universal.
State Farm The term is whole and universal.
Lincoln Financial The term is universal, variable universal, and indexed universal.
Northwestern Mutual The term is whole, universal, and variable universal.
USAA The term is whole and universal.

How we ranked the highest life insurers

Our life assurance ratings are supported by consumer experience, complaint index scores from the National Association of Insurance Commissioners for individual life assurance, and weighted averages of financial strength ratings, which indicate a company's ability to pay future claims. Within the buyer experience category, we consider simple communication and website transparency, which looks at the depth of policy details available online. We converted the data to a curved 5-point scale to compute each insurer's rating. These ratings are a guide, but we encourage you to buy around and compare several insurance quotes to seek out the simplest rate for you. We do not receive compensation for any reviews. Read our editorial guidelines.

Best life assurance companies: Pros and cons

Learn more about our top life assurance companies by reading the brief summaries below and finding out our comprehensive reviews. Jump to:
  • MassMutual: Best overall
  • Haven Life: Best for fast coverage
  • Guardian Life: Best for applicants with a history of HIV
  • AARP: Best for those that want to skip the checkup
  • Fabric: Best online experience
  • New York Life: Best for top coverage amounts
  • Pacific Life: Best range of permanent life assurance
  • State Farm: Best for customer satisfaction
  • Lincoln Financial: Best for over-the-phone applications
  • Northwestern Mutual: Best for consumer experience
  • USAA: Best for members of the military


"Best overall: MassMutual offers a comprehensive policy portfolio and provides whole life coverage up to age 90, making it a solid option for seniors whose life insurance has run out. There are four sorts of policies: term, entire, universal, and variable universal. Pros: You'll apply online for coverage. If you would like to finish a checkup, MassMutual provides temporary coverage while the method is completed. Cons: Online quotes are available just for term life: You've got to contact MassMutual for whole, universal, and variable universal quotes. Company overview: Massachusetts Mutual life assurance Co., often shortened to MassMutual, is one of the essential life insurers in the country. Founded in 1851, it offers a good range of products, from term life to variable universal life assurance — a permanent policy with flexible premiums and investment opportunities. MassMutual may be a mutual company, suggesting it's owned partially by its policyholders and pays out dividends to qualifying members. Its 2022 dividend payout is about to be the very best yet at $1.85 billion.

Haven Life

"The best option for quick coverage: apply for a policy online, and if approved, coverage can begin the next day." Policy types: Term. Pros: You'll apply for up to $1 million in term coverage online. If approved, you don't need to take a checkup, and your coverage begins an equivalent day. Cons: The corporate doesn't sell permanent life assurance. Company overview: Haven Life offers term life assurance with accelerated underwriting, a process that uses algorithms and data to assess your insurability quickly. The entire application procedure is done online and takes about 25 minutes to complete. Haven Life's policies are provided by MassMutual, which has had far fewer customer complaints than one might expect from a company of its size.


"Best for HIV-positive applicants: Guardian sells a choice of standard plans as well as term and whole life insurance for persons living with HIV." Policy types: Term, whole and universal. Pros: you'll get a quote online without entering your contact details, and toggle between different coverage amounts to ascertain your estimated premium. Cons: Guardian received a below-average rating in J.D. Power's 2021 customer satisfaction study for all-time insurance. Company Overview: Guardian was established in 1860 and has been paying dividends to qualify policyholders since 1868. The $1.13 billion payouts in 2022 are set to be the largest in the company's history. For a company of its scale, the insurer received far fewer complaints from state authorities than one might expect. Apart from life assurance, Guardian also sells various products, including dental, vision, and cancer insurance.


"For individuals who don't want to go to the doctor, AARP's life insurance policies don't require a medical exam." Policy types: Term and whole. Pros: If you're an AARP member from 50 to 80 years old (50 to 75 in New York), you'll qualify for the company's guaranteed acceptance life assurance policy no matter your health. The maximum coverage amount is $25,000, and the premiums are the same throughout the policy's duration. Cons: Term life premiums aren't level, which suggests they increase over time. Company overview: AARP life assurance policies are available to members who are 50 or older. one among the company's biggest draws is its simplified underwriting, which suggests you don't need to take a life assurance checkup to qualify for coverage. That said, acceptance of a few policies could also be supported information about your health. All policies are issued by N.Y. Life.


"Best for an online experience: Fabric's website is easy to navigate and offers a variety of ways to contact the company, including live chat." Types of policies: Term. Pros: An application is often completed online in 10 minutes. The corporate uses advanced algorithms to determine eligibility and price, suggesting that medical exams might not be necessary for all applicants. Cons: Fabric doesn't sell permanent life assurance like whole life. Term coverage is out there just for those ages 60 and younger. Overview of the company: Vantis Life, a Penn Mutual affiliate, issues Fabric life assurance policies. Term insurance contracts can be purchased for 10, 15, 20, 25, or 30 years. The amounts of coverage range from $100,000 to $5 million. The corporate also offers accidental death insurance to applicants 25 to 50 years old. This coverage is a guaranteed issue, which suggests you'll buy a policy no matter your health. Accidental death insurance policies aren't available in Colorado, Massachusetts, Montana, North Dakota, Pennsylvania, Virginia, Washington, or N.Y.

New York Life

"The company's Million-Plus Level Term 10 insurance has a minimum benefit of $1 million and is best for high coverage amounts." There are four sorts of policies: term, entire, universal, and variable universal. Pros: N.Y. Life offers a good range of coverage types, from annual term policies to variable universal life assurance. In J.D. Power's 2021 customer satisfaction research for all times insurance, it also scored above average. Cons: You can't get a quote online until you provide your contact information. Premiums for brand spanking new York Life's term life policies are level for a group period of your time, after which they gradually increase. Company overview: N.Y. Life may be a mutual company, which suggests its policyholders own it. As such, you'll be eligible to choose board elections if you purchase specific policies and earn dividends — the insurer is about to disburse $1.9 billion in 2022. The company is one of the essential life assurance companies within the U.S. and drew fewer complaints to state regulators than expected for a corporation of its size. one among its whole life policies includes a versatile payment option, allowing you to pay off your premiums early.

Pacific Life

"Pacific Life offers a wide range of permanent life insurance options, including whole, universal, variable universal, and indexed universal policies, in addition to term life." Types Of Policies: Term, whole, universal, variable universal, and indexed universal. Pros: Each type of insurance sold by the company has thorough brochures available on the company's website. Cons: Some policies aren't available in N.Y. Company overview: Pacific Life has been in business for quite 150 years. It's drawn significantly fewer complaints than expected for a corporation of its size over the past three years. The company's indexed universal life assurance policy is one of the products offered by Pacific Life. These policies grow investments supported stock exchange indexes just like the S&P 500. They even have a guaranteed floor, which suggests your life assurance cash value won't fall below a particular value if the stock exchange dives.

State Farm

"Best for customer happiness: In J.D. Power's 2021 U.S. life assurance Study, State Farm came in first out of 21 firms for customer satisfaction." Policy types: Term, whole and universal. Pros: the corporate offers multiple life assurance riders on select policies. The company's universal life assurance is out there for applicants who are ages 85 and younger. Cons: Some policies aren't available in Massachusetts. You've got to contact a State Farm agent to urge a quote. Company overview: once you consider State Farm, you almost certainly consider its auto insurance products. But it also offers an honest range of life assurance policies, including return-of-premium life assurance — if you outlive the term, you get a refund of the premiums you paid into the policy. State Farm also offers one premium option for its whole life policy and a final expense policy to help cover funeral costs.

Lincoln Financial

"Best for over-the-phone applications: Lincoln Financial encourages a quick application procedure over the phone for customers who want to buy coverage through an advisor." Policy types: Term, universal, variable universal, and indexed universal. Pros: Lincoln Financial offers a wide choice of coverage options, as well as detailed policy information, such as optional riders, policy fees, issue age ranges, and more, on their website. Cons: Ranked below average for customer satisfaction within the 2021 J.D. Power life assurance study. Overview of the company: Lincoln Financial was founded in 1905 and distributes a variety of products, including life insurance, annuities, long-term care, and employee benefits. Survivorship life insurance is available through the company's variable universal life catalog. This sort of insurance covers two people, typically a few, and pays out after the person dies. In some cases, survivorship insurance is often cheaper than buying two separate permanent policies.

Northwestern Mutual

"Best for customer service: Northwestern Mutual received far fewer complaints from state authorities than one might expect from a company of its size, making it a safe bet for shoppers." Policy types: Term, whole and universal. Pros: Northwestern Mutual features a top-tier financial strength rating, and therefore the company ranked high for customer satisfaction in J.D. Power's 2021 U.S. life assurance Study. Cons: On Northwestern Mutual's website, it's difficult to find coverage specifics, including issue age ranges, coverage limitations, and possible riders for whole and universal life plans. Overview of the company: According to the most recent statistics from S&P Global Market Intelligence, Northwestern Mutual, which was founded in 1857, is the largest provider of individual life insurance in the United States. Universal life policyholders have a variety of payment and coverage options, whereas term life policyholders can change their policies to permanent coverage without having to undergo a physical examination. The corporate expects to pay $6.2 billion in dividends to qualify policyholders in 2022.


"Excellent for military personnel: USAA focuses on active-duty military personnel and veterans." Policy types: Term, whole and universal. Pros: Unlike most life assurance products, USAA's term life covers active military members during wartime, including acts of terrorism. Cons: Some coverage options aren't available in N.Y. or Montana. Company overview: USAA was founded in 1922 to supply life assurance for veterans and active military members. It now offers coverage to civilians also. Its policies are often wont to supplement the government-provided Servicemembers' Group life assurance, which is automatically issued to eligible military personnel. The amount of coverage available to policyholders between the ages of 18 and 35 can be extended if they married, buy a home, or have a kid.

How to choose the simplest life assurance company

Follow these four steps to seek out the simplest life assurance company for your family.

Check out customer satisfaction scores.

Other customers' experiences can assist you in deciding whether you would like to try to do business with a corporation. Complaints submitted with state regulators, which can be found on the National Association of Insurance Commissioners' website, can provide information about an insurer's reputation. All of the businesses listed above have had fewer complaints to state regulators than expected for insurers of their size, consistent with three years' worth of knowledge from the NAIC.

Consider financial strength

It's vital to look into life assurance companies' financial strength because you'll need a company that will pay claims a few years down the road. Our insurance reviews use weighted averages of financial strength ratings. A rating firm like AM Best can provide further information on life insurance businesses. We don't advocate looking into insurers with a B or below AM Best rating.

Evaluate the policy options

Term and permanent are the 2twomain sorts of life assurance. Term life assurance lasts a group number of years and is usually sufficient for many families. Permanent life assurance lasts your entire life and sometimes includes an investment component. Under the umbrella of permanent life assurance, there are several different types of policies, like whole life and universal life.

Get prices from a couple of companies.

The cost of coverage varies among companies, so it's wise to match life assurance quotes from multiple insurers. Although many companies sell similar policies, some specialize in certain products — like whole life — or on particular customers, like seniors who need life assurance. You'll narrow down your options by concentrating on the businesses that specialize in the sort of insurance you're trying to find.

Insurer complaints methodology

We examined complaints received by state insurance regulators and reported them to the National Association of Insurance Commissioners in 2018-2020. To assess how insurers compare to at least one another, the NAIC calculates a complaint index annually for every subsidiary, measuring its share of total complaints relative to its size or share of total premiums within the industry. We calculated an identical index for every insurer, weighted by market shares of every subsidiary, to gauge a company's complaint history over three years. Auto, house (including renters and condos), and life insurance ratios are all calculated independently.

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