Best Whole Life Insurance Companies

Flexible protection you can count on for a lifetime

Financial long-term stability
Flexible policies
Policy riders

Best Whole Life Insurance

How we narrowed down the field.

Choosing the best whole life insurance is difficult because there's a variety of policy riders and contract provisions to consider. The potential permanence of whole life coverage means it's critical to conduct this research carefully.

Evaluating a company's long-term stability is as important as the coverage they offer. You also want to choose a policy that's flexible, so you can tailor it to your needs. Using this information as our guide, we created this list of the best whole life insurance providers.

  • State Farm
    • Financially strong
      State Farm boasts the highest financial strength rating from A.M. Best.
    • Customize with riders
      State Farm has a large selection of riders to help you design a life insurance policy around you.
    • Vanishing premium option
      Use dividends to reduce your premium payments over time.
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    • A.M. Best Rating
      A++
    • Coverage Minimum
      $25,000
    • Guaranteed insurability rider?
      Yes
  • MetLife
    • Low coverage minimums
      Purchase as little as $10,000 of whole life insurance coverage to start.
    • Guaranteed level premiums
      Your premiums won't go up over the life of your policy.
    • Add extra coverage
      Add protection for your estate, family members, or final expenses with policy riders.
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    • A.M. Best Rating
      A+
    • Coverage Minimum
      $10,000
    • Guaranteed insurability rider?
      Yes
  • MassMutual
    • High financial stability ratings
      MassMutual has received an A++ from A.M. Best.
    • Interest rate guarantee
      You're guaranteed to earn a minimum interest rate as described in your policy.
    • Partial surrenders
      You can withdraw funds up to a certain percentage of the policy's value.
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    • A.M. Best Rating
      A++
    • Coverage Minimum
      $50,000
    • Guaranteed insurability rider?
      Yes

Financial Strength

Financial strength ratings indicate the company's long-term stability. This is critical when considering a whole life insurance policy because you want to be sure the company's going to be around when you need them. There are several organizations that assess financial strength, including A.M. Best, Moody's and S&P. Reviewing their scores is a good place to start when determining a company's financial stability. All three companies listed above have high ratings, but State Farm and MassMutual stand out by earning the highest possible score from A.M. Best.

Coverage

Figure out how much life insurance coverage you need and build your policy around that. For younger buyers, a company like MetLife, with low coverage minimums, is a good place to start. Level premiums and a guaranteed minimum interest rate add stability to your policy, but you also want flexibility. Partial surrender, disability waiver of premiums, and a vanishing premium option can help with this. All three companies offer these, in addition to flexible coverage limits, making them well suited to a range of individuals.

Policy Riders

Policy riders enable you to customize your policy even further. Add extra protection for your estate, long-term care, family members, and final expenses. A whole life guaranteed insurability rider is another one to look out for. This ensures your future insurability at standard rates without providing further proof of insurability. All companies on this list offer a nice selection of policy riders, but MetLife falls slightly behind the other two by not offering a long-term care rider.

The Bottom Line

Policy riders enable you to customize your policy even further. Add extra protection for your estate, long-term care, family members, and final expenses. A whole life guaranteed insurability rider is another one to look out for. This ensures your future insurability at standard rates without providing further proof of insurability. All companies on this list offer a nice selection of policy riders, but MetLife falls slightly behind the other two by not offering a long-term care rider.