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Life insurance companies in the US and their growth

Monday, September 26th, 2011

There are a number of life insurance companies in the US and their growth since the last few years has been tremendous. US boast of some of the best insurance companies and have a large network of carriers who are licensed to operate in every state. The insurance industry is highly competitive and hence insurers constantly offer insurance products that have the best coverage at an affordable price. Since, there are so many companies out there; it can get quite confusing at times. Hence, it is important to get to the bottom of what an individual needs in order to be able to cover all the expenses. Rules and regulations vary from one state to another and it is important to get all these facts right, before obtaining a quote online.

Since the last few years, the popularity of the life insurance policies has grown tremendously in the US. There has been a 12% annual growth between 2002 and 2004 while there was just 3% growth in the assets in the insurance industry between 2000 and 2002.

Some of the major US insurance companies are New York Insurance, MetLife, Mutual Life Insurance, Prudential Financial, UnumProvident, Northwestern Mutual, TIAA-CREF, Principal Financial, AFLAC, Mutual of Omaha Insurance, Jefferson-Pilot, Thrivent Financial for Lutherans, Western & Southern Financial, Pacific Life, Conseco, Torchmark, Unitrin, Lincoln National and the others. Customers can avail some of the best quotes from all these popular companies.

AXA is an insurance group that deals with health, life, as well as other insurance as well. It is a French-based group and ranks as the 15th largest company worldwide. Aviva is the 5th largest insurance group worldwide and the 2nd largest group in Canada.

Allianz is one of the biggest financial service providers worldwide and its core business centers around insurance. New York Life Insurance Company is one of the largest mutual life insurance companies in the US and is also one of the largest companies in the world.

Obtaining insurance quotes from any of these companies is very easy as they can be obtained online. You can compare quotes between different carriers before deciding on purchasing the policy. Insurance policies not only help in offering coverage for the policyholder, but also provide financial security.

Insurance quotes will be based on the family history, health of the insurer, as well as other such related factors. Previous ailments will play a huge role while underwriting policies and premiums will be based on that.

Some of the most common mistakes that can be avoided while applying for life insurance quotes are applying for the lowest possible term life insurance quote and failing to look at the other benefits. Another mistake is applying for lower sums of coverage and not considering other future expenses such as tuition, mortgage etc. It is important to review old policies before purchasing new ones. Rates and products are subject to change at regular intervals. Prior to canceling a policy, find out the worth of the policy in the insurance market.

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