The Most Trusted Life Insurance Rating Companies
Although there are many life insurance rating companies available, not all of them are trustworthy. A.M. Best, Fitch, Moody's, and Standard and Poor each offer reliable financial strength ratings. There aren't many reliable rating companies for life insurance customer service but the Better Business Bureau and NAIC offer insight into a company's complaint history.
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Kristen Gryglik
Licensed Insurance Agent
Kristen is a licensed insurance agent working in the greater Boston area. She has over 20 years of experience counseling individuals and businesses on which insurance policies best fit their needs and budgets. She knows everyone has their own unique needs and circumstances, and she is passionate about counseling others on which policy is right for them. Licensed in Massachusetts, New Hampshire,...
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UPDATED: Mar 18, 2024
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Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.
UPDATED: Mar 18, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- The best life insurance rating companies provide unbiased information about an insurer’s financial strength or customer service
- A.M. Best is the most reputable and available life insurance financial strength rating company
- The National Association of Insurance Commissioners (NAIC) and Better Business Bureau (BBB) can help consumers learn about company complaint frequency and resolution
No matter what type of life insurance you’re shopping for, it’s important to use the information provided by life insurance rating companies to avoid investing in bad products. Buying life insurance requires a long-term commitment, and the process shouldn’t be rushed.
There are countless life insurance reviews and ratings out there, but how do you know which ones to trust? This article will highlight some of the most authoritative life insurance rating companies so you can feel confident in your research.
What are the best life insurance rating companies?
There are quite a few life insurance rating companies out there, but not all of them provide accurate or current information. As with any research, it’s important to get accurate information from a reliable source, or you might be misled into making an ill-informed decision.
Some of the top organizations for life insurance ratings include:
- A.M. Best
- Standard & Poor (S&P)
- Fitch
- Moody’s
If you’re looking to compare a life insurance company’s financial strength ratings, the four sources above each provide detailed ratings that are regularly updated. These ratings help determine whether or not a life insurance provider will be safe to invest in from a financial standpoint.
What is the difference between the top life insurance rating companies?
Life insurance financial strength ratings can occasionally differ between rating companies based on viewpoints. While the A.M. Best life insurance ratings should be similar to S&P and Fitch, this won’t always be the case. Not to mention, the scaling notation isn’t exactly the same for each rating company.
For example, the A.M. Best rating for Liberty National Life Insurance Company is an “A,” but its ranking with Moody’s is “A1.” Both of these are considered strong scores, but they’re written differently.
Moody’s ratings for life insurance companies may also be harder to come by when compared to A.M. Best. In fact, A.M. Best has more ratings than Moody’s, Fitch, and S&P for life insurance company financial strength.
How do I find life insurance companies with the highest ratings?
There are different ways to approach finding highly rated life insurance companies. For starters, most popular life insurance providers are rated highly for financial strength. There may be subtle differences from one company to the next, but those that are heavily advertised tend to have great ratings.
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There are other ways to make your quest for ratings go even faster. You can find a life insurance companies ratings list through COMDEX ratings. You can use the list of COMDEX ratings for life insurance companies to compare all four of the major rating companies for most major insurers.
It appears that the COMDEX ratings are updated every couple of weeks, so they should be fairly accurate. The biggest limitation is that these ratings only address a company’s financial strength. Just because a company is financially stable doesn’t mean it offers strong products.
Read more: What are COMDEX ratings for life insurance companies?
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Other Life Insurance Ratings Companies
While it’s certainly important to review life insurance financial strength ratings, customer service is another major consideration. Unfortunately, there are some serious limits when it comes to reputable customer service ratings for life insurance companies.
In reality, it’s difficult to review a life insurance company for customer service since the policyholder doesn’t handle the claim. In any case, there are a few companies to look into if you’re looking for any red flags related to a life insurance company’s customer service. These companies include:
- The Better Business Bureau (BBB)
- The National Association of Insurance Commissioners (NAIC)
- J.D. Power
Again, each of the companies above has limits. For example, the Better Business Bureau rates companies based on how proactive they are in resolving complaints. An “A+” rating with the BBB doesn’t mean that the company doesn’t get complaints, just that they respond to them.
On the contrary, the BBB does have reviews for each respective company on its company website, but these are almost always negative. Not many people are going out of their way to leave positive reviews with the BBB for a company.
The NAIC offers quite a bit of information to consumers, but most importantly, they offer the NAIC Complaint Index. This shows how frequently customers complain about products. You can even sort the complaints by product type to ensure that you aren’t investing in a troublesome product.
Lastly, J.D. Power offers ratings based on customer satisfaction each year. The life insurance ratings are still a bit limited, but you can see how companies rank compared to one another and the industry average. If you find quotes from two companies that are somewhat similar, this could help you make a final choice.
There are other ratings available in other countries, but these would be the most popular in the United States. For example, you can find Insurance Regulatory and Development Authority of India (IRDAI) ratings for life insurance companies in India, but that won’t offer you much help in the states.
Life Insurance Ratings Companies: The Bottom Line
Getting accurate company ratings could help you make an informed decision so that you can choose the best life insurance policy available. Choosing the right policy could save you hundreds of dollars and ensure that your beneficiaries don’t go without your death benefit.
We hope you enjoyed learning more about life insurance rating companies. Be sure to review the best life insurance companies when you’re ready to start shopping for life insurance.
Enter your ZIP code below to view companies that have cheap insurance rates.
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Kristen Gryglik
Licensed Insurance Agent
Kristen is a licensed insurance agent working in the greater Boston area. She has over 20 years of experience counseling individuals and businesses on which insurance policies best fit their needs and budgets. She knows everyone has their own unique needs and circumstances, and she is passionate about counseling others on which policy is right for them. Licensed in Massachusetts, New Hampshire,...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.