Right here is the newest, revised version of the best insurance providers listings. These are compiled in a top 100 ratings guide format. The listings are in alphabetical order helping insurance agents & brokers find an insurer. Find out how your opinion compares. How can you possibly rate a good insurance company? I will mention briefly the different ways, show you the method I is used for this article, and why.
SIMPLY BY NUMBER OF AGENTS
This ratings guideline listing method evaluates the insurer by the sheer number of insurance agencies & brokers currently licensed and under contract. with carrier. I feel this evaluation to be worthless for any multitude of reasons. First of all there are a number of career health and life insurance agencies which have thousands of representatives. However , of these, up to 80% of the total agents are relatively new in attempting to create credibility in the industry. Four years down the road only 6% of many an insurance company agency force will maintain enough production to stay career representatives.
Furthermore, my findings uncover inaccuracy of the method due to licensing renewal procedure state insurance departments impose for the insurer. Most state departments of insurance send the renewal report forms on a yearly basis. There exists a fee to be paid by every ins agent renewed. What makes it difficult is the variation of different paperwork treatments by individual states for eliminating non-active ins reps. The paperwork consists of costly, time consuming forms and procedures for the insurance company to make any kind of changes. Renewing all the sales representatives is often cheaper, and thus the route the particular insurer frequently takes. This also gives the insurance company bragging rights to how many sales people write for them.
Personally I was shown in state insurance department records as licensed for eleven years after I wrote my last case.
INSURANCE CO FINANCIAL RANK LISTINGS
There are four or five top indie firms that employ this insurance provider rating of a company based on numerous financial factors.
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A lot has to do with predicting the financial stability of the insurance provider. This is accomplished by closely dissecting past and present financial history. This covers how the insurer investments execute, and the rate of return. An insurance evaluation also takes in concern the amount of cash on hand, and how much exists in reserves to pay present and future claims.
There is a consensus among life insurance association members straight into believing that the highest rated insurance providers are the best of the bunch. Yet association members make up less than 12% from the total producer base. The other insurance policy agents and brokers, (the majority), do not agree that these are always the very best ones to use for their client’s needs. Logic tells you that a newer high quality insurer does not have past history to start out top ranked. In my situation, customers bought what I presented them. Nearly half the time it was NOT the highest rated company by the rating firms. I however sold the client exactly what their emotional needs demanded. Many past insurance companies with rankings in the best 100 later financially failed, and still frequently do in today’s entire world.
BY RANKING OF PREMIUMS GATHERED
This is a very common type of insurance company list & ranking to produce. Insurance companies are usually rated by total number of rates they collected that year. It appears rather unfair to mix annuity rates in with all dollars collected. Suppliers know it is easier to sell a 20 dollars, 000 annuity than a $20, 500 premium term insurance policy. The other problem I find with using complete premiums collected is with who actually contributed a chunk of the premiums collected. With some companies an enormous amount of these premiums were not collected from the average sales person. A lot of institutional purchasers directly bought hundreds of thousands of bucks of annuity premiums.
BY RANKINGS IMPORTANT TO HEALTH & LIFE RETAILERS
This is my way. As reasonable and balanced from an product sales representative perspective as feasible. Premiums are usually collected from the 1, 500, 500 agents, trying to make a living by marketing insurance policies in this industry. Often these sales are done one by one. Plus, of this 450, 00 independent agents, semi-independent agents and some career reps write, depending on which company, 50% in order to 100% of that insurance co business.
This rankings method is imposed due to the fact I find the insurance companies listing is intended to be a beneficial directory. One that independent agents, semi-independent representatives, along with some profession reps can turn to. This is a guide directory site to other insurers that you may consider creating production for.
The insurance companies list and ratings guide to the top 100 is purposely placed in alphabetical order instead of by premium or economic data. You may not agree completely using the listing, because we have left in certain companies with a strong percentage associated with business sold in annuities, and purchase products.
In the eyes of a typical health insurance and life broker, this guide is of health and life insurance companies is about as precise as possible.
1 . Aetna 2 . AIG Life Insurance Company** 3. Allianz Life insurance coverage Company of North America 4. American Family Life Assurance Co associated with Columbus 5. American Fidelity Assurance Company 6. American General Life and Accident INS Co** 7. American General Life Insurance Co** eight. American Income 9. American Funeral 10. American National Life 11. Americo Financial Life And Annuity 12. Anthem Blue Cross thirteen Aurora National Assurance 14 Aviva Life and Annuity Company 15. AXA Equitable 16. Bankers Lifetime and Casualty Company 17. Banner 18. Beneficial Life 19. C. M. Life Ins 20. Colonial Life & Accident 21. Columbus Life 22. Conseco Life twenty three. Farmers New World 24. First-Penn Pacific cycles 25. Forethought 26. General United states 27. Genworth 28. Gerber 29. Great American 30. Great-West Lifestyle & Annuity 31. Guardian 32. Hartford Life and Accident Inches Company 33. Hartford 34. Homesteaders 35. Indianapolis Life 36. E 37. Jackson National 38. Bob Hancock 39. John Hancock Life insurance coverage Company USA 40.. Kansas City Life 41.. Lafayette 42.. Liberty Life Assurance Co of Boston 43.. Liberty National 44.. Life Ins Company of North America 45. Life Ins Company of the Southwest 46. Life Investors Ins Co of America 47. Lincoln Advantage 48. Lincoln Heritage 49. Lincoln National 50. Massachusetts Mutual fifty-one. Metropolitan 52. Midland National 53. Minnesota Life 54. Monumental Lifestyle 55. MONY – America 56. MONY – New York 57. National Guardian 58. National Life 59. New England Life 60. New York Life Ins and Annuity Corporation 61. New York Life 62. American Co for Life & Health Inches. 63. Northwestern Mutual 64. Ohio National Life 65. OM Financial 66. Pacific Life 67. Penn Mutual 68. Phoenix Life Inches 69. Primerica 70. Principal 71. Protective 72. Provident Life and Accident 73. Pruco 74. Prudential – America 75. Reassure America 76. Reliance Standard 77. ReliaStar 78. Riversource 79. Security Lifestyle of Denver y 80. Standard 81. Stonebridge 82. Sun Life and Health 83. Sunset 84. Surety 85. Symetra 86. Transamerica 87. Transamerica Occidental 88. Trustmark 89. U. S. Financial ninety. Union Central 91. Union Security 92. United Healthcare 93. United Ins Company of America 94. United Investors 95. United of Omaha 96. United States Life 97. Unum 98. West Coast 99. Western and Southern Life 100. Western Reserve Life Assurance Co of Ohio Note: Sagicor Lifetime, Foresters, and Illinois Mutual ought to appear on the bottom 3 listings, replacing the companies listed above as #6, 2, and 7.
**AIG Life Insurance Corporation, American General Life, American General Life and Casualty Comments
This particular group of companies USED to be one the best premium generating, and highest positioned insurance companies in the United States. Still, after 2 massive Federal Bailouts, the future will be uncertain. Therefore , AIG Life is no longer deserving of being on this top hundred list guide.
GUIDE TO QUESTIONABLE LIFE INSURANCE COVERAGE COMPANY LISTINGS
The following insurance companies entries often could be included in different types of a few top 100 Life ins business rankings IF you were evaluating monthly premiums written. Sometimes the premiums include considerable amounts of annuity premiums. Furthermore counted in would be insurers where a large portion of sales do not originate from representatives and sales people. Instead it really is written by security stock brokerage companies, and independent broker-dealers of adjustable investment contracts not governed simply by insurance departments. In other cases, items may be directly strictly toward teachers, the military, or credit unions. In a couple cases, there are businesses with pending litigation. A rendering of this mix of insurers is listed below:
1 . Cuna Mutual 2 . Genworth Life and Annuity 3. Harford Life and Annuity y four. John Hancock Variable Life five. Mayflower National 6. Metlife : Connecticut 7. Metlife Investors USA 8. MML Bay State nine. Nationwide 10. Nationwide Life & Annuity 11. NYLife of AZ 12. PHL Variable 13. Sun Life Assurance Co of Canada 14. Teachers Ins and Annuity Assoc of America 15. USAA 16. Shenandoah — financial problems
There is a grand total of more than 600 Licensed Life/Health Companies “active” in every state of the United States. However , some are not currently writing new business. In addition , there are many active in only one or several states, so you will find them lacking from the top insurance company listings. Most states have a true actual list count of 220 to 330 life and health home offices currently accepting new cases through licensed agents & brokers.
Advisor’s predition. If I choose from the service provider listings above, Foresters would be my top pick as the next rising star. Its innovative niche products are starting to create a high demand. Also watch Genworth, its stock value offers zoomed and the company is very adaptive to market opportunities.