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Consumers vote: Best and worst life insurance carriers

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If a person unrelated to your business asked your clients to rate your practice, how do you think they would respond? A recent survey from Insure.com asked current customers of the largest life insurance carriers which companies they like best. 

The website, which provides information on different types of insurance to the general public, commissioned Op4G to survey 4,000 current insurance customers nationwide in June 2015. The survey set out to find out how satisfied they were with their insurers. Each answer was assigned a point value and those points were then averaged and totaled for each company, according to the report’s methodology.

The survey collected data for 15 of the largest companies in each insurance category, hence why not all carriers are represented in the study. These companies were then ranked and the top three in each category earned Insure.com’s “People’s Choice Award.” 

A.M. Best, a more than 100-year-old credit ratings agency, provided the financial strength ratings for the report. These do not affect the scores, but are provided as a supplementary resource, the survey states. You can find the explanation for each rating here.

Up next are the results of the surveys, starting with the company listings from fifteenth place to first place. In the life insurance category, a tie for third place resulted in four insurers receiving the award.

john hancock

15th Place:

John Hancock

Overall points: 82.7 (3.5 stars; 105 reviews)

Customers who recommend this carrier: 73%

Customer service stars: 4

Financial strength ratings: A+

(Photo: John Hancock Facebook)

axa

14th Place:

AXA Equitable

Overall points: 82.8 (3.5 stars; 126 reviews)

Customers who recommend this carrier: 82%

Customer service stars: 3

Financial strength ratings: A++

(Photo: AXA Facebook)

aig

13th Place:

AIG

Overall points: 82.9 (3.5 stars; 113 reviews)

Customers who recommend this carrier: 77%

Customer service stars: 4

Financial strength ratings: A

(AP Photo)

aflac

12th Place:

Aflac

Overall points: 85.1 (3.5 stars; 128 reviews)

Customers who recommend this carrier: 79%

Customer service stars: 4

Financial strength ratings: A

(Photo: Aflac Facebook)

prudential

11th Place:

Prudential

Overall points: 85.3 (3.5 stars; 170 reviews)

Customers who recommend this carrier: 71%

Customer service stars: 3

Financial strength ratings: A+

(AP Photo)

allstate

10th Place:

Allstate

Overall points: 85.9 (4 stars; 272 reviews)

Customers who recommend this carrier: 82%

Customer service stars: 4

Financial strength ratings: A-

(Photo: Allstate Facebook)

transamerica

9th Place:

Transamerica

Overall points: 86.2 (4 stars; 102 reviews)

Customers who recommend this carrier: 78%

Customer service stars: 4

Financial strength ratings: A-

(Photo: Transamerica Facebook)

northwestern

8th Place:

Northwestern Mutual

Overall points: 86.9 (4 stars; 102 reviews)

Customers who recommend this carrier: 81%

Customer service stars: 4

Financial strength ratings: A++

(Photo: Northwestern Mutual Facebook)

 lfg logo

7th Place:

Lincoln Financial Group

Overall points: 87.6 (4 stars; 116 reviews)

Customers who recommend this carrier: 83%

Customer service stars: 5

Financial strength ratings: A

(LFG logo)

 new york life logo

6th Place:

New York Life

Overall points: 87.6 (4 stars; 152 reviews)

Customers who recommend this carrier: 81%

Customer service stars: 4.5 stars

Financial strength ratings: A++

(New York Life logo)

metlife

5th Place:

MetLife

Overall points: 88.1 (4 stars; 139 reviews)

Customers who recommend this carrier: 75%

Customer service stars: 4

Financial strength ratings: A+

(Photo: MetLife Facebook)

 jackson

4th Place:

Jackson National Life Insurance Company

Overall points: 89.1 (4 stars; 101 reviews)

Customers who recommend this carrier: 89%

Customer service stars: 4

Financial strength ratings: A+

 sf

3rd Place:

State Farm

Overall points: 89.5 (4 stars; 208 reviews)

Customers who recommend this carrier: 80%

Customer service stars: 4

Financial strength ratings: A

(Photo: State Farm Facebook)

massmutual

2nd Place:

MassMutual Financial Group

Overall points: 91.4 (4.5 stars; 100 reviews)

Customers who recommend this carrier: 85%

Customer service stars: 4.5

Financial strength ratings: A++

voya

1st Place:

Voya Financial

Overall points: 92 (4.5 stars; 101 reviews)

Customers who recommend this carrier: 87%

Customer service stars: 5

Financial strength ratings: A

To see the full report, go here.

See also:

The top 100 life & health insurance companies of 2015

Meet 4 leaders that are transforming the insurance industry