Most people agree when I say, “It’s not uncommon for people to get online and search for the best life insurance companies only to get overwhelmed.” Best term life rates.
Actually, it can be quite simple to find the top life insurance companies if you do one simple thing…
…use an independent broker like Life Insurance Blog.
In this post and video I’m going to show you what to look for and how to make sure you understand how to find the best life insurance carriers.
Who Is the Best Life Insurance Company?
There are so many companies that offer life insurance.
The truth is that there isn’t just one top company – there are actually many excellent companies. Each of these companies may benefit you more depending on your individual situation, health and lifestyle.
So how do you know which company is best for you?
In this article I’ll discuss what to look for when shopping for life insurance, including what factors to consider, and ultimately how to narrow down the choices and end up with the right solution for you and your family.
Be sure to also visit our Life Insurance Company Reviews post to get specific information on top companies.
Life Insurance Health Class Rating
Before you even think about which life insurance company to go with, you first need to select an appropriate “Health Class” when getting quotes online or with an agent.
If you’re getting quotes online like on Life Insurance Blog, you need to select a health class that closely matches your situation.
Here is a helpful chart on the 3 major health classes that are used with free online quoters.
Preferred Plus (Also known as Preferred Best or Super Preferred)
Phoenix life insurance
Standard (Also known as Regular)
The Infographic below provides a STEP BY STEP walkthrough on how to find the best life insurance companies by getting an accurate term life quote.
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High Risk Life Insurance
What do you do if you don’t fall into the 3 most common health classes?
What if you had a preexisting condition that will make it more difficult to quote? First, go to our “ Life Insurance with Preexisting Conditions ” page to read up on a variety of health issues.
You’ll be able to find information specific to your condition and how it affects underwriting. The easiest way to get an accurate quote is to call us at 888-411-1329 and let us do the research for you.
Every life insurance company looks at your situation differently.
If you have a health condition, it makes the quoting process even more challenging for the consumer.
At LifeInsuranceBlog, we work dozens of life insurance companies and find the ones that will look at your situation most favorably.
For example, if you have type 2 diabetes, Company A may offer the best rates.
However, Company A might decline you if you had a Heart Attack. Your agent will find the best companies for YOUR situation.
How Much Life Insurance Do I Need?
Once you select the correct Health Class, you need to decide how much coverage you want to have in place.
You can use a calculator like the one on the life foundation website, or you can do the math yourself with paper and pen by looking at things like your mortgage balance, how many years of income you want to replace, and if you want to put money aside for things like education for your kids.
Once you decide on an amount of coverage you’ll want to explore what type of policy you want to have.
For most people term insurance provides the most affordable option for the most coverage. If you need to have life insurance last forever, like for burial expenses than you might consider a permanent policy.
Now that you have your amount of coverage and type of policy, it’s time to choose a company.
How to search for the best life insurance companies
In this step we recommend that you compare quotes from high quality companies.
For example when you use our quote tool right on this blog page, you’ll find rates from among the best term companies.
How do you know they are the best life insurance companies?
First, you will be able to see which carriers have the best pricing, and next to each company you will see their A.M Best Rating. A.M Best is an independent company that rates the financial strength of insurance companies.
We recommend that you use A or A+ rated companies, which you will see when you get term rates.
By putting in the amount of coverage you are looking for…
…as well as the term length that you need to have in place, you will find pricing for the top companies.
Next we recommend that you review the top three companies and choose the one you feel most comfortable with.
Perhaps there are a couple of companies on the list you know well, or you Google a few and found good reviews from sites like the Better Business Bureau.
Find the best companies with an independent life insurance agent
Once you decide on the company the next step is to apply for coverage.
This is where using an independent life insurance agent is key.
Independent life insurance agents have access to multiple life insurance companies. Life Insurance Blog has access to dozens of the best companies so you know you’ll get to choose from all the companies listed. Our one exam and application covers you for every company.
The Life Insurance Application
Once you apply it takes about 4-6 weeks to get approved for a policy – unless you go with a no medical exam option.
If your policy does require an exam, a paramedic will come to your home, free of charge, and will do a mini-physical – taking your blood pressure, height & weight, blood test, and urine sample.
I’ve personally done this twice now, and the exam takes about 30 minutes to complete.
Best Term Life Insurance Companies
Use the form on this page to get term life quotes. You can also use our contact us page to email or call us at 888-411-1329 and we can discuss options and help you find the best term life company for you.
Thanks for reading our post, Search for the Best Life Insurance Companies. Please leave a comment or ask a question below.