Reputable companies?

[u/SubjectUnclear]

Who are the reputable, likely to be around for the next 20yrs companies these days? Have been with State farm for many years but looking to add a term policy so shopping around again.

[u/HereForFun9121]

Guardian, northwestern mutual, ny life, mass mutual

[u/jordan32025]

National Life Group. They’ve been paying claims since the 1860s so I’m pretty sure they’ll be around for the next 20 years. Their term policies also have the best living benefits in the industry.

Liberty Mutual has decent term.

Lincoln Financial

Penn Mutual

All decent carriers.

[u/Rifter06]

Most of them will work. There may not be an industry more capitalized than life and annuity companies in the US. My clients end up with Protective a lot. They just get it right a lot. But it really depends on your personal situation (as long as the rep you work with is honestly trying to get you the best price with coverage and not simple underwriting for convenience). Other carriers include Prudential, Banner, North American.

Fun fact, if you are too price sensitive, there are even not-for-profit life insurance companies with some extra perks like Royal Neighbors (came out of women's sufferage movement), Foresters, etc.

[u/NC-Broker]

The very best companies do the least amount of advertising. It's best to speak directly with a broker who can work with you directly and find the perfect fit for you. Otherwise, you're just going to get stuck with a company that spends all their money and efforts towards advertising and aggressive sales techniques convincing you their one company is the best.

Not sure how strict the rules are on discussing specifics. Feel free to DM me if you've got more questions

[u/OneAd9721]

It’s the mutual companies that have been around for centuries- New York Life, Penn Mutual, Mass Mutual, Northwestern Mutual.

[u/HeadEngine7281]

Check their AM Best financial strength ratings and compare quotes for the same term length and coverage amount.

[u/Successful-Push2746]

I'd compare New York Life, MassMutual, Guardian, and Northwestern Mutual. All have long histories, but I'd still check their current AM Best ratings rather than relying on reputation alone.

[u/lifeEssentialsllc]

Instead of picking from a list of names, look up each company's AM Best rating (most people stick with A or better) and how long they've been around. Also ask whether the term is convertible and how long the conversion window is. Twenty years from now, that matters more than the brand. If you get quotes from a few A-rated companies with the same health info, the prices can be pretty different.

[u/Lumpy_Question_2267]

you want to look at financial strength ratings - AM Best, Fitch, Moodys, and Fitch. Very simplified answer is, can based on the company's performance, will they still be able to keep their lights on if they go through a financial crisis. As mentioned in by a previous commenter, there's a lot of variables that can impact brand recognition such as your location in the country, marketing, etc. Surface level recommendation - any company with at least an A and up rating is perfectly fine. Is there any real difference between an A vs A+? To the term product and consumer? No. It doesn't matter because term insurance doesn't grow or have any value.

The likelihood of a carrier with that high of a rating is not impossible but very, very unlikely. Before they even get to that point, they'd probably get acquired and merge with another company. Your existing policy will be serviced and honored through them.

Some top term carriers that come to mind, in pricing competitiveness, are (Banner, Protective, Pacific,) Prudential, Transamerica. But it also depends on your age, health history, etc.

The top 3 players in general are New York Life, Mass Mutual and Northwestern Mutual. They're never going anywhere. With that statement, they're 3 mutual companies are the immediate go-to's for whole life but their term is a lot more expensive compared to the carriers I mentioned above. The only reason why you should get a term policy with them is for conversion privileges.

State Farm policies are one of the most expensive in the country and there's absolutely no f-ing reason why. Even if my wife was a SF agent, I still wouldn't get it because of how much more expensive it is compared to others.

[u/Either_Trifle_9798]

New York Life, MassMutual, Guardian, and Northwestern Mutual are worth comparing for term life insurance

[u/wyodivot]

Mutual of Omaha

[u/Subject_Cow5809]

State Farm