Top Whole Life Insurance Companies
As you search for the perfect whole life insurance policy or the top whole life insurance companies, you’ll find one thing to be true: there are many companies vying for your business.
Since it’s safe to assume that you’re only in the market for one policy at the present time, you’ll need to make a decision as to which company is best for you, your family, and your finances.
One of the biggest mistakes you can make is assuming that all whole life insurance companies are identical. While they may provide similar products, each and every one has something unique to offer.
Since this is such a big purchase, it’s imperative to only compare the best whole life insurance companies. When you focus on those at the top of the industry, it’s much easier to be confident in your process and the decision you make in the end.
Before we go any further, we realize that no two consumers are the same. For this reason, the company you consider the best may not be the same as the next person.
Even so, there are two things you need to remember:
- Some whole life insurance companies have a better reputation than others.
- There are a variety of details that every consumer, regardless of his or her situation, needs to consider.
With all this out of the way, let’s take a look at some of the top whole life insurance companies going today:
If you turn your attention to these three companies, it won’t be long before you better understand how a top whole life insurance provider should conduct business.
Here are several reasons why these companies have secured a spot at the top of the industry:
1. Strong Ratings
All three of these companies have strong ratings, which gives you the confidence you need to move forward with a purchase. New York Life, for example, is at the top of many ratings lists. Consider the following:
- Best Rating: A++
- Standard & Poor’s Rating: AA+
- Moody’s Rating: Aaa
When you review the ratings associated with a whole life insurance company, you don’t have to guess as to whether or not it has a good reputation and is on solid financial ground. Instead, you’ll know for sure.
There are many reasons to purchase whole life insurance, including the fact that this guarantees a death benefit payout. With this in mind, you can rest easy knowing that your loved ones will be taken care of financially after you are gone.
But did you know that whole life insurance can also be one of the best investments you ever make? When you get involved with a participating whole life company, such as one of those detailed above, you’re in position to collect dividends.
With this, your policy accumulates cash value with each passing year.
Tip: when comparing whole life companies, pay close attention to the dividend history.
For example, the MassMutual dividend is currently the highest among all mutual companies. This can change in the future, but for now the company is providing a great return on your investment.
As you know, the cost of whole life insurance depends on many factors. For example, your age and health will come into play.
As a general rule of thumb, the younger you are the less you will pay for coverage. Along with this, a clean bill of health improves your chance of securing a more affordable policy.
Another thing to think about is this: every life insurance company prices coverage in its own way. For this reason, you should compare quotes from a minimum of three companies. However, price is not the most import aspect in a whole life.
If you’re in the market for whole life insurance, start by requesting a quote from MetLife, MassMutual, and New York Life. When you’re done, you’ll know where each company stands in regards to pricing. From there, you can combine this detail with others to make an informed purchase. Also, you can get an online whole life insurance quote with us in seconds.
Finding the top whole life insurance companies is not as challenging as it sounds. The secret no one tells We’ve provided you with information on three of the best, as well as the guidance you need to make your own decision.