Pacific Life vs AIG vs Banner Life vs Symetra Life vs Lincoln Financial vs Transamerica 2024
Posted in Term Life Insurance last updated on June 28, 2024Below we’ll compare the premiums, ratings and important company data from six of the nation’s top term life insurance companies: Pacific Life vs AIG vs Banner Life vs Symetra Life vs Lincoln Financial vs Transamerica to help you choose the best life insurance company for you.
Table of contents
About
| Company | Rating | Founded | Terms Available |
|---|---|---|---|
| Pacific Life | A+ | 1868 | 10-30 Years |
| AIG | A | 1850 | 10-35 Years |
| Banner Life | A+ | 1836 | 10-40 Years |
| Symetra Life | A | 1957 | 10-30 Years |
| Lincoln | A | 1905 | 10-30 Years |
| Transamerica | A | 1906 | 10-30 Years |
Financial Rating from A.M. Best
A.M. Best Financial Strength Rating Chart
| Secure | Vulnerable |
| A++, A+ (Superior) | B, B- (Fair) |
| A, A- (Excellent) | C++, C+ (Marginal) |
| B++, B+ (Good) | C, C- (Weak) |
| D (Poor) | |
| E (Under Regulatory Supervision) | |
| F (In Liquidation) | |
| S (Suspended) |
Pacific Life vs AIG vs Banner Life vs Symetra Life vs Lincoln Financial vs Transamerica – Term Life Rates Comparison
The chart below compares the monthly term life insurance prices for: $250k, $500k, $1 million, $2 million and $3 million for a 35-year old female for a 30-year level term life insurance policy.
| Insurer | $500k | $1 million | $2 million | $3 million |
|---|---|---|---|---|
| Pacific Life | $29.13 | $51.10 | $97.10 | $143.09 |
| AIG | $29.01 | $50.85 | $96.30 | $141.74 |
| Banner Life | $28.99 | $50.83 | $94.01 | $137.18 |
| Symetra | $29.15 | $51.13 | $94.64 | $139.19 |
| Lincoln | $31.92 | $54.67 | $103.32 | $147.09 |
| Transamerica | $30.18 | $54.40 | $106.25 | $158.10 |
Date of birth 12/1/1987. Rates for a 35-year old female on a 30-year fixed term at the preferred plus health category.
Wrap Up
As you can see above, the monthly premiums from six of the of nation’s top term life insurance companies are very affordable for most people. In fact, a $2 million 30-year term policy can be purchased for less than $100 a month for a 35-year old female in excellent health.
Also, all the carriers listed in the charts above are either A (Excellent) or A+ (Superior) rated by A.M. Best. This means they are highly rated and will pay out any valid claim.
A final note, it is very important when shopping for life insurance to compare rates from many insurance companies since each one has their own rate sheets and underwriting guidelines based on: age, build, medications, medical history, family history and even driving records. One insurance may offer a much better rate because they are willing to take on more risk in a particular underwriting category, such as build, certain medications and health issues, tobacco use and avocations compared their competitors.
