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Love Holidays Travel Insurance Review

Everything you need to know before you buy travel insurance from Love Holidays!

The experts say:

Love Holidays' Premier travel insurance policy may be the ideal choice for those looking for a reliable and comprehensive coverage plan. With a policy score of 61% from Which? and a ranking of 60 out of all 71 providers, customers can rest assured that their trip is in safe hands. Furthermore, its Covid Cover rating is superior, with medical expenses cover up to an impressive £10 million, as well as baggage cover up to £1500 and cancellation cover up to £2000. The only downside is that there is no cover for airline failure and the excess payble on medical claims is not known. Unfortunately, this policy also does not have a Fairer Finance Rating. All in all, Love Holidays' Premier travel insurance offers great value for money and peace of mind.

What Love Holidays customers are saying right now:

• 🤩 Quick refund of cancelled flights
• 🤩 Quick to respond to queries
• 🤩 Quality accommodation
• 😊 Helpful customer service staff
• 😃 Generally good experiences with the travel agent
• :exclamation: Love Holidays charges customers extra hidden fees.
• :sad: Poor customer service, with no access to speak to a human being.
• :x: Misleading information on their website, leading to incorrect bookings.

Love Holidays customer reviews summary

Love Holidays travel insurance has received mixed reviews from customers, with people noting hidden charges, difficulty in contacting customer service, and incorrect listings. However, some customers have reported that their refunds were processed quickly and without hassle. With the potential for mistakes and a lack of customer support, it is advisable to exercise caution when using this service. Love Holidays travel insurance scores 5/10.

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Reviewed: 100+ UK travel insurance providers

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Travel insurance

Comprehensive Travel insurance at great prices, with experienced UK-based customer service team.

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Travel insurance for all your needs.

Fancy a change in scenery? In need of some sunshine or a break from the norm? Whether last minute or planned well in advance, there’s one vital thing you’ll need to organise before jetting away – your travel insurance .

With so many things to remember before escaping to sunnier climes, from booking your annual leave to packing your suitcase, and Googling the weather to arranging Fluffy’s pet care. Sorting your travel insurance can easily fall to the bottom of the pile, but what if something goes wrong?

loveit coverit travel insurance will protect you, the ones you’re travelling with, and your belongings, no matter where you’re going.

How much does travel insurance cost?

There are different levels of cover, each with varying costs. The Essential cover will cost less but cover less while the Premium Cover will have significantly higher levels of cover and will include things like Travel Disruption Cover and Pet Care Cover. Moreover, the Plus and Premium Policies have a lower standard excess than the Essential Cover. How much you spend will also differ depending on the factors such as your health, where you intend to travel, whether the cover is just for you or your whole family, and whether you require single trip or annual cover. Don’t let the idea of saving a few pounds make you skimp on your policy as you could end up loads more out of pocket if something happens.

What are the Different Cover Levels?

Is travel insurance worth getting.

We don’t want to rain on your parade but the likes of illness, flight cancellations, lost luggage and natural disasters CAN happen. Travel insurance can be easy to overlook but for those of us who’ve experienced something unexpected on holiday, we know that it’s a good idea.

If there’s anything that helps you relax when miles away from home, it’s peace of mind, and travel insurance provides exactly that. So, for everything you need to know on travel cover, keep reading.

48% of travellers don’t realise that without travel insurance, they are held solely responsible for medical expenses when abroad. This alone is reason to get cover as who knows when injury or disaster may strike. For the factors you can’t control, there’s travel insurance. If you’d like to know more, take a look at our blog article, Is travel insurance worth it? Don’t just take our word for it though, Money Saving Expert guru Martin Lewis also has some words of wisdom .

Does travel insurance cover cancelled flights?

Yes, travel insurance often covers cancelled flights. However, the extent of coverage can vary between policies, so it’s essential to review the terms and conditions carefully. Generally, travel insurance offers reimbursement for non-refundable expenses if your flight is cancelled due to covered reasons such as severe weather conditions, natural disasters, or airline strikes. Be sure to read the policy’s fine print and understand any exclusions or limitations that may apply.

How to get travel insurance?

Getting travel insurance is a straightforward process. You can purchase travel insurance online through various insurance providers. Start by comparing different policies and providers to find the coverage that best meets your needs. Once you’ve identified the ideal policy, you can usually complete the application process online by providing your trip details, personal information, and making the payment. Afterward, you’ll receive your policy documents via email, ready for your upcoming adventure.

Why choose loveit coverit travel insurance?

Cancellation Cover is one of the main components of our travel insurance. There is nothing worse than having to cancel your trip due to unexpected circumstances. If you have to cancel your trip, we will reimburse the cost of your holiday for up to £5000 per person so you don’t have to worry about anything. We will cover the transportation costs, pre-booked accommodation and other expenses within the cover limit.

Here at loveit coverit, customer service is paramount to us. It’s very important that our customers are treated with respect and all of their questions are answered in a swift and clear manner. Our UK-based Customer Service team has received numerous awards and has been very highly rated by our existing customers, so you are in good hands.

In these uncertain times it is necessary to have that extra protection. We will reimburse you if you or anyone on the policy falls ill with Covid-19 and is unable to travel or in the unfortunate event if you or anyone else on the policy contracting covid-19 during the trip and needing hospitalisation. Please check our COVID-19 Cover page and your Policy Documents for the full cover description.

Seeking medical help in case of an emergency abroad can be very expensive and stressful. With our Medical Cover you don’t have to worry about anything. If something happens to you or someone on the policy, we will take care of everything. Moreover, we cover many pre-existing medical conditions so if you need to seek medical advice relating to your condition while abroad, we will cover that as well.

You never know when you might need some help or advice. That’s why our lines work 24/7. Should you have questions about your policy or would like to make a claim – we are here to help. Please remember that in the case of an emergency, please contact the local emergency services first. If you are abroad and need urgent assistance, please contact the Emergency Medical Service on +44 0203 0931749.

It’s important that all your details are up to date on your travel policy. That’s why we’ve created a customer portal where you can easily view and edit your details online, hassle-free, without having to call or email us. This saves you time which can be used for planning your trip. Keep in mind that some changes made (adding a medical condition, for example) might impact your policies premium.

If you don’t just want to lay on the beach for your entire holiday and are planning to do some sportier activities, you’ll be pleased to know that we cover over 50 activities within our travel policies. So, whether you’re going snowboarding, surfing or snorkelling – We’ve got you covered (unless it is the main purpose of your trip, please read the policy wording before taking out the cover).

It’s stressful enough if something goes wrong during your holiday so we wanted to make sure that making a claim is as easy and hassle-free as possible. You don’t have to fill in any paper forms, you can easily make a claim through our customer portal and upload all necessary documents there. We will take over from that point so you don’t have to worry about anything else!

We are one of the highest rated insurers in the UK market with the rating of 4.7/5 on TrustPilot. We have partnered with the leading global insurance brand AXA which allows us to offer you the highest quality cover.

Why Choose loveit coverit Travel Insurance?

Experience top-notch support with our award-winning, UK-based Customer Service team. Swift, clear, and respectful answers to all your queries, ensuring you’re always in good hands.

Travel with peace of mind in these uncertain times. Our Covid-19 cover includes reimbursement for illness-related cancellations or hospitalisation. Check our policy for full details.

Abroad and need medical help? Our cover includes up to £15 million, handling emergencies and many pre-existing conditions. Travel stress-free, knowing we’ve got your medical concerns covered.

Help is just a call away, any time. Our 24/7 helpline (+44 0203 0931749) is ready for your policy queries or claims, with emergency assistance available abroad. Remember, local emergency services should be your first contact.

Manage your travel policy effortlessly online. Update details, make changes, and save time for trip planning. Note: changes like adding medical conditions may affect your premium.

Active holiday? We cover over 50 sports activities, including snowboarding and snorkelling. Just remember, if it’s the main purpose of your trip, check our policy wording first.

Claiming made easy. No paperwork, just use our online portal to submit your claim and documents. We handle the rest, so you can relax and recover.

“With a 4.7/5 TrustPilot rating and partnership with AXA, we’re a leading, reliable UK insurer. Trust us for high-quality coverage and peace of mind.

Do I need travel insurance?

While travel insurance is not mandatory, it is highly recommended for any trip, whether domestic or international. The reality is that unforeseen events can occur at any time, and without travel insurance, you may find yourself responsible for hefty expenses. From canceled flights and lost luggage to medical emergencies abroad, having the right travel insurance policy can save you from significant financial burdens and provide much-needed support during difficult times.

Single or Annual Trip Insurance. Which one is the best for me?

There are two types of travel insurance – single trip and annual multi trip . If you are not planning to travel a lot and don’t usually have more than 2 holidays or trips a year, single trip insurance might be a better option for you. It will work for the duration of your trip, from departure until arrival back in the UK.

However, if you are a more frequent traveller and plan to have over 2 trips a year, annual multi trip travel insurance is the choice for you. If you don’t plan your trips well in advance or happen to make an unplanned trip, annual multi-trip will be the best choice for you as well. You won’t have to sort out insurance for each separate trip, they all will be covered under one policy. More often than not the annual multi trip travel insurance policy works out to be a more cost-effective option as buying several single-trip policies a year might cost more than one annual multi-trip policy.

What are the different types of cover?

loveit coverit travel insurance has three different cover levels – Essential, Plus and Premium. On the Essential Cover, which is the least comprehensive cover option, you’ll get cover for things such as overseas medical expenses, cancellation or cutting short of your trip, repatriation, missed or delayed departure and baggage cover up to a set limit. For the full cover description, please click here or read your policy wording. loveit coverit also includes things like Dental Cover, Legal Expenses Cover and Personal Money Cover in the Essential Policy.

With more comprehensive options, like our Plus and Premium Policies, you’ll get cover for all of the above but to a greater value, as well as things like Pet Care Cover and Travel Disruption Cover (for situations if your flight is overbooked or you are stranded abroad or your journey is affected by tsunamis, volcanic eruptions and/or volcanic ash clouds, earthquakes, explosions, avalanches and hurricanes, please see your policy documents ).

How do I know which cover is the right cover?

Before you start shopping around, think about all the details of your trip, this includes whether you’re travelling alone, as a couple , a group , or a family , whether you want single or annual (link to ‘annual’ cover page) cover, whether you’ll be renting a car, what activities you’ll be doing, how much your luggage is worth, and how much your trip costs (in case you need to recoup costs). Considering these factors will help you to pick a policy that gives you the cover you need.

What’s not covered?

Sadly not even the crème de la crème of travel insurance policies cover everything. For example, if you’re intoxicated, you don’t keep an eye on your belongings or you don’t disclose your pre-existing medical condition, you are not going to be covered.

loveit coverit travel insurance has three different cover levels – Essential, Plus and Premium. On the Essential Cover, which is the least comprehensive cover option, you’ll get cover for things such as overseas medical expenses, cancellation or cutting short of your trip, repatriation, missed or delayed departure and baggage cover up to a set limit. For the full cover description, please click here or read your policy wording. loveit coverit also includes things like Dental Cover, Legal Expenses Cover and Personal Money Cover in the Essential Policy.With more comprehensive options, like our Plus and Premium Policies, you’ll get cover for all of the above but to a greater value, as well as things like Pet Care Cover and Travel Disruption Cover (for situations if your flight is overbooked or you are stranded abroad or your journey is affected by tsunamis, volcanic eruptions and/or volcanic ash clouds, earthquakes, explosions, avalanches and hurricanes, please see your policy documents ).

Before you start shopping around, think about all the details of your trip, this includes whether you’re travelling alone, as a couple, a group, or a family, whether you want single or annual (link to ‘annual’ cover page) cover, whether you’ll be renting a car, what activities you’ll be doing, how much your luggage is worth, and how much your trip costs (in case you need to recoup costs). Considering these factors will help you to pick a policy that gives you the cover you need.

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• Best for older adults
• Best for long-term care
• Best for high returns
• Best for agent support
• Best for term life
• Why you should trust us

Best Life Insurance of June 2024

Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate insurance products to write unbiased product reviews.

Life insurance is as complicated as the policyholders and beneficiaries who use it. That means there's no single "best" life insurance company. Instead, you can find the best option based on what you want or what you prioritize.

Summary of the Best Life Insurance Companies

• Best for customer satisfaction:   State Farm Life Insurance
• Best for older adults:   Prudential Life Insurance
• Best for agent support:   New York Life Insurance
• Best for long-term care:   Columbus Life
• Best for high returns:   Allianz Life
• Best for term life:   North American Company

Best Life Insurance Companies of 2024

While there is no such thing as the objective best life insurance policy, you will be able to find the best insurance policy for your specific needs. Here are our picks for the best life insurance companies, whether you want to use your life insurance policy to build wealth through cash value or you're just looking for a term life insurance policy .

Best Life Insurance for Customer Satisfaction: State Farm Life Insurance

Bundling is standard, and agents often quote with multiple discounts.

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Best in JD Power customer service ratings
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Company offers a range of different insurance products to meet buyer needs
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Agents are knowledgeable about its products
• con icon Two crossed lines that form an 'X'. Life insurance products are conservative and limited
• con icon Two crossed lines that form an 'X'. Buyers may be subject to multi-year waiting periods before they qualify for full payouts on life insurance policies
• con icon Two crossed lines that form an 'X'. State Farm agents cannot offer alternative options if State Farm is unable to bind a life insurance policy

State Farm is one of the insurance industry's most prominent insurers offering auto, home, and other insurance. Bundling is standard, and agents often quote with multiple discounts. Its term, universal, and whole life insurance products are no exception.

• Life insurance products include term and permanent life
• Ranks highly for customer satisfaction

State Farm Life Insurance gets the best life insurance ranking in J.D Power's Individual Life Insurance Study, with a score of 843/1,000. The company is also ranked A++ with AM Best for its financial stability with term, universal, and whole life insurance options. 

All State Farm policies have to be purchased through a State Farm agent. Your agent can help you bundle and save or buy one policy. State Farm is also among the companies offering "survivorship universal life insurance ," which means the policy covers two people, and it kicks in after the second person dies. Couples looking to maximize their death benefit for beneficiaries with one premium payment each month may enjoy lower overall costs.

State Farm agents can run quotes and compare options to find the right plans for each applicant. The range of options, discounts, and familiar name all contribute to the popularity of State Farm's life insurance.

Read our State Farm Life Insurance review here.

Best Life Insurance for Older Adults: Prudential VUL Protector Life Insurance

Offers aggressive financial plans.

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Available in all 50 states (New York residents may have different plans)
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Buyers can withdraw money to pay for nursing home bills due to severe illness or disability
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Knowledgeable agents who can walk you through your options
• con icon Two crossed lines that form an 'X'. Financial returns are limited
• con icon Two crossed lines that form an 'X'. Limited policy options for seniors and other groups who might struggle to find life insurance

The aggressive financial plans offered by Prudential may appeal to many younger buyers and those with a stable income. However, those with lower income or buyers who aren't sure about the financial system may be more hesitant to engage with Prudential. Like many other industry giants, Prudential is working to change this perception.

Prudential Life Insurance is available in all states except New York. New York residents can buy the Pruco Life of New Jersey VUL Protector plan. This plan allows buyers to pull money out of their plan to pay for nursing home expenses. Cash value policy premiums are fixed, so you won't have to worry about extra costs later on. Internal costs are low, which minimizes risk. Due to age, many older adults want a safe investment option for their money. Prudential VUL Protector invests to avoid loss. That also means you're not as likely to see big increases in your available funds outside of what you deposit.

Read our Prudential Life Insurance review here.

Best Life Insurance for Long-Term Care: Columbus Life Insurance

Offers lien method to makes it easier to calculate the financial impact of pulling money out early.

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Buyers can pull money out for medical and other bills in the event of disease or disability
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Columbus uses lien method to simplify accelerated death payments
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Company offers a wide range of riders to customize policies
• con icon Two crossed lines that form an 'X'. Premiums may be higher than competitors
• con icon Two crossed lines that form an 'X'. Term policies are not guaranteed to be converted to whole

Best for long-term care and accelerated death benefits.

Columbus Life offers a wide range of riders to customize your policy with affordable premiums. The company also allows you to convert term policies to whole life insurance policies until the end of your term (generally around age 70). For this and many other reasons, customer satisfaction is high.

When using living health benefits (otherwise known as accelerated death benefits), buyers are allowed to pull money from policies early to pay for medical bills, living costs, etc. under certain circumstances. Most companies use a discounted death benefit, which reduces your final payout using two models. Columbus uses the lien method, which makes it easier to calculate the financial impact of pulling money out early.

Best Life Insurance for High Returns on Income: Allianz Life Insurance

Offers life insurance policies for foreign nationals with H-1B visas.

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Plans offer high returns on investment
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Great for investment and long-term retirement planning
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. May increase your income by as much as 20%
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Allianz offers plans for foreign nationals including H-1B visas
• con icon Two crossed lines that form an 'X'. Plans are meant specifically for high-income adults, alternatives may not be offered

Best for investing and high returns on income.

Allianz Life plans are geared towards high-income adults looking for more tax-free income. Allianz offers a 40% multiplier bonus with a 1% annual assets charge. In short, the professionals managing your investments take 10%. Overall, your investments would pull in an extra 14%-1% asset charge. This means you end up with 3% more than what you deposit every year your life policy is active. This plan offers strong returns when using a life policy to supplement your retirement savings. Allianz also offers specialized plans to grow your income by as much as 20% according to some estimates.

Of note: Allianz also offers plans for foreign nationals, including those with H-1B visas.

Best Life Insurance for Agent Support: New York Life Insurance

Offers aggressive financial products and extensively trained agents.

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Strong life insurance options for financial planning and wealth building
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Policies available nationwide
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Knowledgeable life insurance agents
• con icon Two crossed lines that form an 'X'. May require a medical exam
• con icon Two crossed lines that form an 'X'. Buyers looking for more modest policies may not find the most competitive pricing

If you're preparing for a comfortable retirement or looking to build generational wealth, New York Life is one of the strongest options. If you have questions or genuinely want to understand your life insurance options, New York Life agents are among the most qualified professionals in the business.

• Life insurance provider with policies available across the US

New York Life Insurance agents go through extensive training before they ever hit the sales floor. What does this get you? Policies vary widely, and New York Life offers both large and small payouts. Some policies have significant penalties for early withdrawal, but taking a loan offers more options. Whatever your questions, New York Life agents are trained to offer comprehensive support giving you accurate information about its policies every time. The company comes in at position eight in J.D. Power's latest life insurance customer satisfaction study.

Read our New York Life Insurance review here.

Best Life Insurance for Term Life: North American Life Insurance

Offers term policies alongside accelerated death benefits for critical, chronic, and terminal illnesses and more.

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Offers accelerated death benefits for critical, chronic, and terminal illnesses
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Offers conversion for life policies up to 70 years old
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Term policies can be renewed up to age 95 for qualifying applicants
• con icon Two crossed lines that form an 'X'. Not all term policies qualify for renewal or conversion

Best Term Policy.

North American Company offers term policies alongside accelerated death benefits for critical, chronic, and terminal illnesses and more. The company allows one conversion on a 20-year policy at 15 years or 70 years old (whichever is earlier). The conversion cannot happen later than the five-year marker regardless of which policy you choose or the length. North American Company also offers a term policy with a lower premium renewable up to the age of 95 for qualifying insureds.

Types of Life Insurance

While there's many different types of life insurance policies , broadly speaking, there are two types of life insurance: temporary and permanent. Let's go over each in detail.

Temporary life insurance

Temporary life insurance is often called term life insurance. This type of policy covers you for a set amount of time before expiring, usually between 10-30 years. If you pass away after your policy expires, your family won't receive any benefits. Additionally, your policy won't accrue cash value like a permanent policy. That said, some term life insurance policies offer a conversion from term to whole life insurance, so you can extend your coverage. 

Because its benefits aren't guaranteed, term life policies are generally cheaper than permanent life insurance. That said, the vast majority of term life insurance policies never pay out. on

Permanent life insurance

Permanent life insurance is an umbrella term for a variety of life insurance policies that will insure you indefinitely and guarantee a payout as long as you maintain your policy. Policy types that fall under permanent life insurance includes:

• Whole life insurance
• Universal life insurance
• Variable life insurance
• Variable universal life insurance
• Simplified life insurance
• Guaranteed issue life insurance

These policies vary widely in purpose and intended buyers, but all guarantee death benefits to your loved ones. Some permanent life insurance policies, like whole, universal, and variable have a cash value component , which you can use as a savings tool or to leave your heirs a larger death benefit.

How to Pick the Best Life Insurance Policy for You

Finding the right fit in life insurance starts with finding a trusted insurance agent. Because there are so many state regulations, shopping for homeowners or auto insurance can be easily done online. Life insurance is not required. So it's a voluntary purchase. Many buyers don't know what they need or when they need it. Before making your selection, consider a few things:

Some companies will sell you a policy for your child as soon as they're born. While this may seem morbid, early sign-up means lower rates for a policy your child could enjoy in the future. Regardless, early sign-up equates to more policy for lower premiums and a higher likelihood of acceptance. At 20, you may be healthier and be able to pay into the policy for a longer period compared to when you're 50 with more age-related conditions.

As a general rule, never agree to more than you can afford. For the average life insurance agent, their job is to sell you a large policy with a large commission. Consider not only how much you make now, but how likely your current income is to continue. If you work on a project basis and your project is scheduled to end in 12 months, you may want to reconsider a policy premium outside your monthly savings.

How much are you prepared to buy? Some people only want a small policy to cover funerals and other end-of-life expenses. Others build a life policy into their retirement plan. Whatever direction you're going, involving a financial planner could help you make the right decisions. Depending on the carrier, customers can also compare set limits with index universal life policies, which set no limit. These policies never expire, and the value builds over the entirety of your life.

Living Benefits

Life happens unexpectedly. You could be healthy one day and in the hospital the next. Many life policies offer living benefits. These allow you to draw a limited amount out of your policy to cover medical and other bills you cannot pay while sick.

Much like a 401(k), many life insurance policies have penalties for early withdrawal. No matter what policy you want, this question is critical to an informed decision. It's a question of how early you can withdraw and how much you'll lose from the total to have the money in 10 years instead of 30 or after death.

Some policies require insured parties to pay premiums for at least one year before any significant payout would be available. Suicide exclusions are common. Even with no medical exam policies, the company may still do a check for known conditions. An insurance company has to mitigate its risk.

Flexibility

Once you've been denied a life insurance policy, a mark goes on your record. No matter the reasons, other insurance companies may deny you coverage based on the first denial. So consider your whole situation and choose your policy carefully before you submit any applications. Some policies have greater flexibility if you lose your job or otherwise can't make payments. Others will lapse if you miss even one payment.

Payment Type

Even within whole life or term life insurance policies, customers have the option to choose guaranteed fixed or variable rates. Some have guaranteed payouts, but you'll need to ask your agent for details.

What is your intended use? Why are you shopping for a life insurance policy in the first place, and what are your goals? Many successful financial planners also have a background in life insurance. So while they may not be able to find you a specific life insurance policy, financial planners can help you set out a blueprint for your purchase.

Why You Should Trust Us: How We Reviewed the Best Life Insurance Companies

In life insurance, it's easy to get "sold a bill of goods." Many life insurance agents pass a state test to be thrown into the deep end. Agents sell the company product, but not all know the products. In this vein, we look at the products each company offers. We also look at agent training.

A good life insurance agent may not volunteer all facts upfront. But a company's agents should answer questions about its products accurately and in a way the average consumer can digest. Agents should be able to inform you about the long-term benefits and limitations. This will help customers find the right policy for their long-term plan.

We consider affordability, policy sizes available, and performance for a comprehensive assessment in our insurance rating methodology . If you can, we recommend also working with a financial advisor to make a plan for your future with life insurance.

Our Expert Panel for The Best Life Insurance Companies

To inform our choices for the best life insurance companies, we spoke with the following experts:

• Paul LaPiana , head of product at MassMutual
• Barbara Pietrangelo , CFP, CLU, and chair of the nonprofit Life Happens
• Wykeeta Peel , Corporate Vice President and Market Manager, African American Market Unit at New York Life

The Experts' Advice on Choosing The Best Life Insurance for You

How much life insurance coverage do you believe the average buyer should have.

Paul LaPiana, Head of Product at MassMutual

"There are different approaches to determining how much life insurance you need. One is the 'human life' approach, which estimates the current value of your future earning potential. Another is securing specific coverage to pay off debts such as a mortgage or provide for the education of children. A comprehensive protection plan should provide the right amount of coverage over the course of your working life and into retirement."

Barbara A. Pietrangelo, Chair of Life Happens

"There is no one-size-fits-all life insurance policy because everyone is different. One way to get a rough estimate is to multiply your income by 10 to 15; another is adding $100,00 to that amount, should you have a child and anticipate college education expenses.

Your best bet is to talk to a financial professional or use the Life Insurance Needs Calculator on LifeHappens.org to analyze what's right for you."

Wykeeta Peel, Corporate Vice President & Market Manager African American Market Unit at New York Life

"As you consider what policy best meets your needs, it can help to answer four key questions: First, how much death benefit do you need? Second, how long will you need that coverage? Third, what is your budget (or how much monthly premium can you afford to pay?), and finally, what is your investment risk tolerance?

To determine how much death benefit makes sense, it's helpful to think beyond using life insurance to cover funeral expenses and consider whether anyone is relying on the policy owner's income to maintain a lifestyle, pay rent or a mortgage, or fund a child's education and for how long.

There are various rules of thumb regarding the right amount of Life insurance coverage. Some tips can be found online, but they only provide an estimate and don't necessarily factor in an individual's specific needs. In my opinion, human guidance, powered by technology, is required. Basically, it comes down to how much money your loved ones would need to remain on firm financial ground if your earnings were no longer in the picture and that is different for everyone."

What is the biggest opportunity you see for improvement in the life insurance industry?

"Increased accessibility through digital and other channels as well as through underwriting enhancements. Increased tailoring of products and features. And an increased emphasis on health and wellness programs."

"Having enough qualified insurance professionals to walk potential buyers through the multiple benefits of life insurance will be pivotal to the growth of the industry. Education is a key factor here, as professional agents also need to be able to explain life insurance and its benefits in an easy, digestible way, especially when there are so many misconceptions about life insurance."

"The need for life insurance is greater than ever. In fact, a recent New York Life Wealth Watch survey found that 37% of adults have been thinking about life insurance more often these days – and half of adults report that financial products that provide protection (50%) and reliability (50%) are more important now compared to last year. This may be especially true for middle-market and Cultural Market families.

Our organizational structure of having Cultural Market agents embedded in the communities where we live and work allows us to understand the needs of diverse communities and develop solutions that resonate with them."

What advice would you give to buyers who are debating whether or not to buy life insurance?

"It is difficult to say with any certainty how healthy you will be years from now. That's why securing life insurance, and insuring your insurability, today, when you are the youngest you'll ever be again, and perhaps your healthiest is a wise decision."

"Do you love someone? If the answer is yes, then life insurance is certainly something you should consider. Many buy gifts and experiences to express their love, but haven't considered that life insurance is just another way to say I love you. Nothing says support like ensuring your family's financial security and peace of mind."

"If you have someone depending on your income, you should consider purchasing life insurance. A death benefit from a life insurance policy can replace income from the loss of a breadwinner, ensure a family can stay in their home, fund educational or retirement expenses, address debt and so much more.

A life insurance policy can also help you grow your family's wealth over time. Once the risk of an unexpected loss has been managed, you can begin to think more broadly about your family's financial future. Life insurance can enable your mindset to shift from death to growth."

What's the most important thing buyers should look for when choosing a life insurance agent/company to buy from?

"With life insurance, you are securing a future commitment that may be decades away. Research the company behind the policy to ensure it has high financial strength ratings, longevity, and an excellent track record of paying claims."

"When looking for an insurance agent or company, be sure to do your research. When comparing companies, be sure to remember that the policy features that fit you and your loved ones best is the most important factor. Don't automatically assume you should buy from the higher-rated company.

If the policy from the other company has more of what you're looking for, it might be the better choice. If you're unsure where to start, try the Life Happens Agent Locator to find an insurance professional in your area."

• "The insurers' track record: At its core, life insurance is protection - a hedge against the unexpected - and you are paying premiums in exchange for the promise that the insurer will be there when you need them, so the financial strength and track record of the company backing your policy is critical.
• Customer service: Are service professionals available by phone and digital channels? Is there is an online dashboard where you can manage your policy? Beyond ensuring assistance is available after you purchase a policy, it's also critical to ensure you have access to trusted advice and guidance before you buy.
• Flexibility in conversion: How easy is it to change? Life can be unpredictable and while term insurance can cover your loved ones through a critical period of time, you may decide that access to cash value is an important piece of your strategy.
• Accelerated online applications : Online applications are convenient but don't replace human guidance. Keep in mind that accelerated online applications may have a maximum coverage amount, meaning that you may not be able to get all the coverage you may need exclusively through an online process.
• A range of payment options: It's important to understand how often you're required to make premium payments and whether and how often you can change the frequency of payments."

Best Life Insurance FAQs

According to JD Power's 2023 life insurance study, State Farm is the highest-rated life insurance company when it comes to overall customer satisfaction. However, you still may want to shop around for quotes from various insurers if you're looking to purchase a new policy.

There isn't one best life insurance company, because the best option for you will depend on the type of policy you're looking for. It's best to work with a qualified insurance agent to help you find the best coverage. If you're deciding between multiple similar options, it's also worth consulting J.D. Power's life insurance customer satisfaction study . The latest study ranks State Farm as the top pick for individual life insurance, outpacing Nationwide by three points.

The best type of life insurance policy for you will differ from someone else's, as your policy should be tailored to your needs. The best policy for you will be affordable and will offer the benefits best suited to your situation. For example, some policies are only meant to cover end-of-life expenses such as burial and funeral arrangements, whereas others include living benefits like a cash value insurance plan , which you can borrow against during your lifetime.

Some life insurance policies are advertised as "no medical exam." This doesn't mean the insurer won't ask you about known conditions or look at medical records. Policies with no medical exam also tend to offer lower benefits with higher premiums. Most companies have a network of medical examiners, some of whom can come to your home. You can find our guide on the best no exam life insurance here.

Each situation is different and requires a knowledgeable life insurance agent to assess your best options. Bring all your questions and the coverage you're looking for to an insurance agent near you to explore your options.

Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards .

Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.

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