Top 30 Largest Life Insurance Companies in California 2021
Below is a list of the largest life insurance companies in California for 2021. Not surprisingly, most insurers on the list of the largest life insurance companies in California 2021 many people will recognize and are household names. The list is calculated by the life insurance market share for life insurance premiums annually.
|Life Insurance Company||A.M. Best Rating|
|New York Life||A++ Superior|
|Lincoln Financial (Lincoln National)||A+ Superior|
|John Hancock||A+ Superior|
|AIG (American General)||A Excellent|
|Principal Financial (Principal National)||A+ Superior|
|Voya Financial||A Excellent|
|Jackson National||A+ Superior|
|Pacific Life||A+ Superior|
|AXA Equitable||A+ Superior|
|Northwestern Mutual||A++ Superior|
|Midland National||A+ Superior|
|North American||A+ Superior|
|Minnesota Life||A+ Superior|
|Great Western||A- Excellent|
|Ameriprise (Riversource)||A+ Superior|
|State Farm||A++ Superior|
|Mutual of Omaha||A+ Superior|
|Protective Life||A+ Superior|
Life Insurance Company Ratings California 2021
A.M. Best is considered the most preeminent life insurance rating agency in the world. This is the gold standard rating that most agents and consumers use in determining the financial strength of an insurer and their ability to meet their long term commitments to payout future claims.
A great rule of thumb when it comes to ratings and life insurance is this: choose a life insurance company with an “excellent” or “superior” rating from A.M. Best. This means that the prominent third party rating agency has deemed the life insurance company as very strong financially and as having an excellent or superior ability to payout future claims.
- Compare rates
With over 700 life insurance companies to choose from, the key to reviving the best rate is to compare rates from multiple life insurance companies. Each life insurance company has their own rate chart and underwriting guidelines based on: age, weight/height, cholesterol readings, blood pressure readings, health history, family history, driving history and many other factors. By comparing rates from multiple insurance companies you can have assurance that you are receiving the lowest rate from a highly rated life insurance company and are not unnecessarily overpaying for the same exact life insurance policy.
- Fast before the (paramed) medical exam
If you choose to take the life insurance paramed/medial exam it’s important to fast for 8-10 hours prior. Nowadays, many agents will tell you that you don’t have to fast for the life insurance medical exam but it can still help if you do. When you fast, your weight is the lowest and your readings are also typically the lowest. This can help you obtain the best health rate class you qualify for.
- Once approved, activate the policy
The life insurance policy will not go inforce until after the first premium is revived and you e-sign/sign the final forms (unless you provided that information upfront). Don’t delay, because if your health changes or you if you go on a new medication, etc. before you place the policy in-force it can affect your rate and insurability.