Best Options For Life Insurance In 2019

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Protecting your family is the most important aspect about life and when you are gone that support system is lost you need to have life insurance to help support your family when you are not there. ThinkAdvisor1 did a study that concluded that 85% of individuals think that having life insurance is the best choice but around 62% think that life insurance really isn’t that important. People often think that life insurance is very expensive and something out of their reach but to be frank the average cost of life insurance is around $150 a year.

You do not want to leave your family with nothing is something bad happens to you that’s why you should consider getting life insurance if you don’t have one already. Now that 2019 is here, there are many insurance companies that are offering affordable plans that almost anyone can pay for. These plans offer you the best benefits while still offering you a great price, here are a few of the top insurance companies out there right now.

State Farm

State Farm is a reliable insurance company that you can always rely on, they give you the option to choose between permanent and term policies. Term policy let you choose a certain amount of money to give to your beneficiaries if you pass on during the time you agreed with. Most State Farm agents will suggest that you go with a 30 year plan, but if you want a shorter period of time, State Farm offers that as well. Most people end up choosing $250,000 to payout to their beneficiaries when they pass on.

When it comes to the cost of life insurance it really comes down to how healthy you actually are. If you are younger and sign up for life insurance you don’t have to pay as much and when you are older be prepared to pay a lot more. Your everyday habits can also dictate how much money you will be paying monthly, if you smoke you will be paying more monthly. For example a 30 year old woman that doesn’t smoke will be paying $19 a month but a 40 year old smoker will be paying around $130 a month. Living a healthier lifestyle will help you have cheap premiums and a better way of living.

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State Farm has some great packages that they offer to everyone: Term Life, Whole Life and Universal Life plans, out of the three the Universal Life stands out.2 If you want to find out more about how much this plan would cost you would have to speak to a State Farm agent to help you get an idea. Anyone who has dealt with State Farm has nothing but good things to say about them, consider signing up with them today.

AIG Life

Unfortunately AIG doesn’t have the best reputation because it took part in the 2008 financial crisis3, but since then they have shown that they are a reliable company that is serious about your life insurance. With 90 million consumers, AIG offers great customer service and the same plans that you can find at your other insurance companies. AIG does offer a plan that other companies don’t, the Quality of Life policy, helps your family even when you are still living. This policy is great for some that suffers from illness frequently and doesn’t have the money to support his family.

Finder reported that any individual that signs up for life insurance with AIG will only be paying $19 a month and will have a $500,000 in the end. If you are young and looking to support your family in anyway, then signing up with AIG could be the best decision of your life. Just like every life insurance company your premiums will raise if your health is low and you are at an older age. The best thing you could do is sign up for life insurance at a reasonable age or whenever you start a family.

Although AIG does have its ups and downs, their policies do stand out from other insurance companies and is a good option to consider.

Mutual of Omaha

Mutual of Omaha has been going strong for 110 years and that says a lot about how this company operates. They are famously known from the Wild Kingdom TV show which showed kids the fascination about nature but were really sneaking in selling life insurance.4 This company has the best customer approval, according to NerdWallet, Mutual of Omaha was rated slightly above average on customer approval by J.D. Power. They were the 8th best out of 24 other companies, if you want a company that cares about you Mutual of Omaha is where it is at.5

Just like the other two life insurance companies, Mutual of Omaha offers the same policies at better prices depending on your health. You will have to get evaluated to find how much you will be paying a month, but of course if you sign up when you are younger and are in full health you will be paying a lower premium.

The best policy that Mutual of Omaha is offering is the Guaranteed Universal Life which will support your family to the fullest and give you them the biggest payout but a lot of people are still leaning towards Income Advantage. Make sure that you look into each of their policy and find that one that you find doable. If you want to find out any further information make sure that you visit a Mutual of Omaha in person.

It is best that you get life insurance as soon as possible so that you know that your family is guaranteed support if something bad happens to you. There are many life insurance companies that offer different policies for everyone. Be sure that you check online and compare the policies and companies that you like. Start searching today for the best life insurance in 2019. 


Sources: 

1 https://www.thinkadvisor.com/2013/08/30/the-shocking-statistics-behind-the-life-insurance/?slreturn=20181118114427

2 https://www.retirementliving.com/reviews/state-farm-life-insurance

3 https://www.investopedia.com/articles/economics/09/american-investment-group-aig-bailout.asp

4 https://www.finder.com/mutual-of-omaha-life-insurance-review#mutual-of-omaha-commercial

5 https://www.nerdwallet.com/blog/insurance/reviews/mutual-of-omaha-life-insurance/ 

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