Top 5 Life Insurance Plans to Consider in 2018
Explore the top 5 life insurance policies of 2018, highlighting leading providers like Haven Life, New York Life, Prudential, AIG, and Mutual of Omaha. Learn about their plan types, benefits, and financial stability to make informed choices for securing your future.
Top 5 Life Insurance Options for 2018
The insurance market is filled with numerous providers offering similar coverage options, making it challenging for consumers to choose the right plan. Aggressive marketing tactics can also influence decisions, sometimes leading to less optimal choices. To secure your loved ones’ future effectively, it’s essential to carefully compare plans, weighing their advantages and disadvantages before purchasing a policy.
When evaluating options, consider factors like plan types (term, whole, or universal), added benefits, insurer’s financial stability, overall cost, and customer feedback. To assist in your selection, here are five leading life insurance companies of 2018 that stand out for their offerings and reliability.
Types of plans (term, whole, universal)
Additional benefits and riders
Financial strength of the insurer
Cost of coverage
Customer ratings and complaint history
Here are the five top insurers in 2018 for your consideration:
Haven Life
An innovative online-centric insurer, Haven Life offers fully digital life insurance applications without needing an agent. Its streamlined process ensures quick, hassle-free approvals, making it ideal for young, healthy buyers. Backed by MassMutual, a well-established company with excellent financial ratings, Haven Life specializes in affordable term life policies, providing a reliable and convenient option.
New York Life
Known for decades of consistent high ratings, New York Life provides simplified term plans up to $150,000 without requiring medical exams—only basic health information. The firm offers diverse policy types, including whole, universal, and variable life, with features like conversion options, premium flexibility, and guaranteed renewability tailored to individual needs.
Prudential
As a major insurance leader managing over $1 trillion in assets, Prudential offers a broad spectrum of coverage types—permanent, term, universal, and more. It also provides supplementary options like disability and critical illness coverage. Its unique underwriting approach considers non-tobacco users who chew tobacco as non-smokers, broadening coverage eligibility.
AIG – American International Group
With global recognition and high ratings, AIG offers plans including whole, term, universal, and guaranteed issue policies. They are especially suitable for those seeking high maximum payouts exceeding $10 million, and often feature benefits like premium refunds, policy conversions, and guaranteed renewals.
Mutual of Omaha
Specializing in whole life policies, Mutual of Omaha requires no medical exams for coverage amounts between $2,000 and $25,000 for individuals aged 45-85 (or up to 75 in some states). The policies include a graded death benefit for the initial two years and accrue cash value, allowing policyholders to borrow against these savings in the future.
Other reputable providers to explore include MetLife, Northwestern Mutual, PolicyGenius, MassMutual, AARP, Transamerica, Guardian, and State Farm.
