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I found your website to be well organized and user friendly. It contains a lot of good
general information on term insurance. And, I got the impression that your company
was genuinely interested in helping me find the best product for my needs....
Who Are The Competitive Life Insurance Companies
The answer to that question is: "it depends."
If you are a non-smoker in good health, you should see most of the following companies towards the top of any worthwhile spreadsheet. If not, you may want to move on.
Over 1,000 companies sell term life insurance so the focus here is the highest-rated companies offering the lowest prices. The listed companies are committed to the term marketplace. From time to time, we see other carriers move into and soon after quickly move out of this arena. It's tough to be profitable and the company needs to know what it's doing. These carriers have demonstrated their expertise. The current low-priced non-smoker leaders are:
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American General Life Insurance Company
Banner Life Insurance Company
was First Colony Life Insurance Company (now merged into Genworth below)
Genworth Life and Annuity Insurance Company
Genworth Life Insurance Company of New York (NY only)
John Hancock Life Insurance Company
Pruco Life Insurance Company (Prudential)
ING ReliaStar Life Insurance Company (ING)
Transamerica Life Insurance Company
West Coast Life Insurance Company
William Penn Life Insurance Company (NY only)
For Alternate Tobacco Users (Cigar, Pipe and Chewers), John Hancock usually can't be beat.
For cigarette smokers, American General and ReliaStar are usually in the top bracket.
For non-smokers with weight problems, prices are all over the board, but West Coast is very strong cost-wise. Many times I've seen West Coast give a Standard rate when others will stick on very costly surcharges.
Family history problems are covered in the next section - "Your Parents Did It To You - Underwriting Guidelines."
I've only hit the high points here and can't cover every situation. There are other companies not listed above that we use in special situations. If you have any health or lifestyle issues, I recommend you talk with an experienced agent (who is licensed in your state). If you're talking with someone with an Internet company, ask him or her to fax you a copy of his or her individual license to sell in your state (not the company's license). That way you know you're not just talking with a telemarketer. A telemarketer's only goal is to get your application started, regardless of company or underwriting criteria. This may seem harsh, but it can save you thousands of dollars (I cover that in the next section).
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