Here is the newest, revised version of the best insurance firms listings. These are compiled in a top 100 ratings guide format. The particular listings are in alphabetical order helping insurance agents & brokers find an insurer. Find out how your viewpoint compares. How can you possibly rate a good insurance company? I will mention briefly the different ways, show you the method I is utilized for this article, and why.
SIMPLY BY NUMBER OF AGENTS
This ratings guidebook listing method evaluates the insurance provider by the sheer number of insurance real estate agents & brokers currently licensed and under contract. with carrier. I feel this evaluation to be worthless for the 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, as much as 80% of the total agents are usually relatively new in attempting to create credibility in the industry. Four years down the line only 6% of many an insurance provider agency force will maintain enough production to stay career representatives.
Furthermore, my findings uncover inaccuracy of this method due to licensing renewal procedure state insurance departments impose in the insurer. Most state departments associated with insurance send the renewal record forms on a yearly basis. There exists a fee to be paid by each ins agent renewed. What makes hard is the variation of different paperwork techniques by individual states for removing non-active ins reps. The documents consists of costly, time consuming forms plus procedures for the insurance company to make any changes. Renewing all the sales representatives is often cheaper, and thus the route the insurer frequently takes. This also gives the insurance company bragging rights to how many sales people write for them.
Personally I had been shown in state insurance department records as licensed for eleven years after I wrote my final case.
INSURANCE CO FINANCIAL RANK LISTINGS
There are four or five top self-employed firms that employ this insurance provider rating of a company based on numerous financial factors. A lot has to do with projecting 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. A good insurance evaluation also takes in consideration the amount of cash on hand, and how much exists in reserves to pay existing and future claims.
There is a general opinion among life insurance association members directly into believing that the highest rated insurers are the best of the bunch. Yet association members make up less than 12% from the total producer base. The other insurance agents and brokers, (the majority), do not agree that these are always the best ones to use for their client’s needs. Logic tells you that a newer quality insurer does not have past history to begin top ranked. In my situation, clients bought what I presented them. Almost half the time it was NOT the best rated company by the rating firms. I however sold the client exactly what their emotional needs demanded. Several past insurance companies with rankings within the best 100 later financially failed, and still frequently do in today’s world.
BY RANKING OF PREMIUMS COLLECTED
This is a very common type of insurance company list & ranking to produce. Insurance companies are rated by total number of monthly premiums they collected that year. It appears rather unfair to mix annuity rates in with all dollars collected. Producers know it is easier to sell a $20, 000 annuity than a $20, 000 premium term insurance policy. The other mistake I find with using overall premiums collected is with who really contributed a chunk of the payments collected. With some companies an enormous quantity of these premiums were not collected by average sales person. A lot of institutional purchasers directly bought hundreds of thousands of bucks of annuity premiums.
BY RANKINGS IMPORTANT TO HEALTH & LIFE SELLERS
This is my way. As fair and balanced from an product sales representative perspective as feasible. Premiums are usually collected from the 1, 500, 000 agents, trying to make a living by offering insurance policies in this industry. Often these types of sales are done one by one. Plus, of this 450, 00 independent agents, semi-independent agents and some career repetitions write, depending on which company, 50% in order to 100% of that insurance co company.
This rankings method is imposed since I find the insurance companies listing is intended to be a beneficial directory. One that independent agents, semi-independent representatives, along with some career reps can turn to. This is a guide directory to other insurers that you may consider writing production for.
The insurance companies list and ratings guide to the top hundred is purposely placed in alphabetical order instead of by premium or economic data. You may not agree completely with the listing, because we have left in certain companies with a strong percentage associated with business sold in annuities, and expenditure products.
In the eyes of a typical health and life broker, this guide is of health insurance and life insurance companies is about as accurate 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 Reassurance Company 6. American General Lifetime and Accident INS Co** 7. American General Life Insurance Co** almost eight. American Income 9. American Memorial 10. American National Life eleven. Americo Financial Life And Annuity 12. Anthem Blue Cross 13 Aurora National Assurance 14 Aviva Life and Annuity Company fifteen. AXA Equitable 16. Bankers Existence and Casualty Company 17. Banner ad 18. Beneficial Life 19. Chemical. M. Life Ins 20. Colonial Life & Accident 21. Columbus Life 22. Conseco Life 23. Farmers New World 24. First-Penn Pacific 25. Forethought 26. General United states 27. Genworth 28. Gerber 29. Great American 30. Great-West Living & Annuity 31. Guardian 32. Hartford Life and Accident Ins Company 33. Hartford 34. Homesteaders 35. Indianapolis Life 36. ING 37. Jackson National 38. Steve Hancock 39. John Hancock Insurance coverage Company USA 40.. Kansas Town Life 41.. Lafayette 42.. Freedom Life Assurance Co of Boston 43.. Liberty National 44.. Lifetime Ins Company of North America 45. Life Ins Company of the South west 46. Life Investors Ins Co of America 47. Lincoln Benefit 48. Lincoln Heritage 49. Lincoln National 50. Massachusetts Mutual fifty-one. Metropolitan 52. Midland National 53. Minnesota Life 54. Monumental Lifetime 55. MONY – America 56. MONY – New York 57. Nationwide Guardian 58. National Life fifty nine. New England Life 60. New York Life Ins and Annuity Company 61. New York Life 62. American Co for Life & Health Inches. 63. Northwestern Mutual 64. Kansas National Life 65. OM Monetary 66. If you are you looking for more information regarding car insurance market check out the web-page.
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 The united states 76. Reliance Standard 77. ReliaStar 78. Riversource 79. Security Lifetime of Denver y 80. Regular 81. Stonebridge 82. Sun Life and Health 83. Sunset 84. Surety 85. Symetra 86. Transamerica 87. Transamerica Occidental 88. Trustmark 89. U. S. Financial 90. Union Central 91. Union Protection 92. United Healthcare 93. Usa Ins Company of America 94. United Investors 95. United of Omaha 96. United States Life ninety-seven. Unum 98. West Coast 99. Western and Southern Life hundred. Western Reserve Life Assurance Co of Ohio Note: Sagicor Existence, Foresters, and Illinois Mutual ought to appear on the bottom 3 listings, changing the companies listed above as #6, two, and 7.
**AIG Life Insurance Organization, American General Life, American General Life and Casualty Comments
This particular group of companies USED to be one the best premium generating, and highest rated insurance companies in the United States. Still, after 2 massive Federal Bailouts, the future can be uncertain. Therefore , AIG Life is no longer deserving of being on this top 100 list guide.
GUIDE TO QUESTIONABLE LIFE INSURANCE COVERAGE COMPANY LISTINGS
The following insurance companies entries often could be included in different types of several top 100 Life ins company rankings IF you were evaluating monthly premiums written. Sometimes the premiums contain considerable amounts of annuity premiums. Furthermore counted in would be insurers where a large portion of sales do not come from representatives and sales people. Instead it really is written by security stock brokerage firms, and independent broker-dealers of variable investment contracts not governed by insurance departments. In other cases, products may be directly strictly toward teachers, the military, or credit unions. In a couple cases, there are businesses with pending litigation. A portrayal of this mix of insurers is the following:
1 . Cuna Mutual 2 . Genworth Life and Annuity 3. Harford Life and Annuity y four. John Hancock Variable Life 5. 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. Sunlight Life Assurance Co of Canada 14. Teachers Ins and Annuity Assoc of America 15. USAA 16. Shenandoah — financial issues
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. Additionally , there are many active in only one or a few states, so you will find them missing from the top insurance company listings. The majority of states have a true actual list count of 220 to 330 life and health home offices currently accepting new cases from licensed agents & brokers.
Advisor’s predition. If I choose from the provider listings above, Foresters would be the top pick as the next increasing star. Its innovative niche items are starting to create a high demand. Also watch Genworth, its stock value has zoomed and the company is very adaptive to market opportunities.