Learn more in our Thrivent life insurance review. The company also offers flexible conversion options for term insurance policyholders and lenient guaranteed purchase option riders on permanent policies. As for its life insurance offerings, a stand-out feature is the potential to receive dividends on whole life, universal life, and variable universal life policies. Its average complaint index over three years was 0.076 for individual life insurance. Thrivent has earned the highest superior rating of an A++ (Superior) so it’s extremely likely that claims are to be paid as promised.īeyond that, Thrivent has far fewer complaints than are to be expected for an insurer of its size, according to NAIC complaint index data. AM Best rates insurers based on their ability to meet their financial obligations on a scale from a D (Poor) to an A++ (Superior). Thrivent made our list for many reasons but primarily because it offers very affordable term life coverage and earned the highest possible financial strength rating from AM Best. Learn more in our Pacific Life Insurance review. While term coverage is the most affordable, you can also opt for universal life, variable universal life, or indexed universal life. For this reason, it placed in our reviews of the best life insurance companies for seniors and the best no-med-exam life insurance companies.Īdditionally, Pacific Life offers a wide variety of insurance policy types and riders. In looking at three years of complaint index data, Pacific Life’s average complaint index was a very low 0.08 for individual life insurance-one of the best of all the insurers we reviewed, and indicating a very low number of complaints. With high marks for customer service, it’s no surprise that the company also has far fewer complaints than are to be expected for an insurer of its size, according to the NAIC. The study measured each insurer’s performance in five areas which included communication, interaction, price, offerings, and statements. Power and Associate’s 2022 Individual Life Insurance Study for overall customer satisfaction. Pacific Life Insurance offers very affordable term life insurance coverage and stands out for its high-quality customer service. ![]() Learn more in our Penn Mutual Life Insurance review. While not guaranteed, the company has consistently paid dividends to eligible policyholders for more than 175 years. In addition to term coverage, Penn Mutual offers a comprehensive lineup of life insurance products including whole life, universal life, indexed universal life, and variable universal life. Further, its NAIC three-year complaint index average for individual life insurance sits at just 0.23, meaning it has far fewer complaints than expected based on its size. The insurer also earned an A+ (Superior) rating from AM Best, demonstrating a superior ability to meet its financial obligations. Plus, Penn Mutual has consistently paid dividends to eligible policyholders for more than 175 years, placing it in our list of best whole life insurance companies. This is the highest amount we’ve seen without an exam which is why the company is one of the best no-medical-exam life insurance companies. Thanks to the insurer’s accelerated underwriting program, qualifying applicants 65 and under can get up to $7.5 million in life insurance without undergoing an exam. Penn Mutual Life Insurance made the list due to its affordable term policies and the high amount of coverage available without a medical exam. ![]() Learn more in our Protective Life Insurance review. ![]() Individual Life Insurance Study, placing 15th out of the 21 life insurers evaluated. However, the company didn’t fare well in J.D. And if you want permanent coverage, you can choose from a complete lineup that includes whole life insurance, universal life, indexed universal life, and variable universal life policies. Protective has a three-year average complaint index of 0.69 for individual life insurance-meaning it gets fewer complaints than expected based on its size. We also looked at complaint data provided by the National Association of Insurance Commissioners (NAIC) to see how many customer complaints it received. Plus, unlike many other companies offering term life coverage, Protective makes it easy to apply online without having to contact an agent.Īs for reliability, Protective earned an A+ (Superior) rating from AM Best, which means it has demonstrated a superior ability to meet its financial obligations, like paying claims. On top of affordability, Protective stands out by offering term policies up to 40 years-most other insurers only offer terms up to 30. It’s also our top pick for best term life insurance companies. In fact, it places for best term coverage in our reviews of the best life insurance companies of 2023 and the best life insurance companies for people over 50. Protective Life Insurance tied with Banner for offering the most affordable term coverage of all the insurers we reviewed.
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