Should I look at smaller term-life providers?
Many people wonder where to get the best term life insurance. Some individuals favor going to smaller term life providers, others want a company that deals with thousands of policies. That being said you can find the best rate for term life insurance at larger or smaller companies depending on your individual wants and needs. For example:
Nationwide Term Life Insurance
Whether because of the catchy jingle, or because of their long history, almost everyone recognizes Nationwide. However, with a 1.46% market share they are far from a biggest dog on the block, yet they offer a number of great term-life products.
State Farm Term Life Insurance
One thing is for sure about State Farm term life insurance: reviews are almost universally positive. State Farm earned the 2015 J.D Power Award for customer satisfaction for a reason, and they sit in the middle, with a 3.6% market share. Still not the biggest company around, but servicing a good deal more policies than nationwide.
Northwestern Mutual Term Life Insurance
The biggest fish in the pond is Northwestern mutual. They have an 8.46% market share, just for comparison to State Farm and Nationwide. They also offer a range of inexpensive term life insurance products that are hugely popular, including a hybrid term/whole life product called CompLife.
As you can see, each of these companies is different in terms of the market share they occupy, but at the same time each one offers a variety of good deals on term life insurance that work for different individuals based on their needs and situation. The best idea is to shop around and get an understanding of what term life insurance rates you can get from different companies to get a better idea of what company is the right choice for you.
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