Top 5 Leading Universal Life Insurance Providers of May 2025
Rewritten Article
Up your life insurance game with universal coverage! Pacific Life, our top pick, offers below-par minimums, diverse options, and solid ratings. Investopedia's research evaluated 45 companies using 70 criteria, including policy options and customer satisfaction, to determine the crème de la crème of universal life insurance.
Top 5 Universal Life Insurance Companies of May 2025
- Best Overall, Best Variable Life Insurance, Best Indexed Life Insurance: Pacific Life
- Best for Financial Stability, Best for Customer Satisfaction: MassMutual
- Best for Living Benefits and Low-Budget-Friendly: Nationwide
- Best for No-Medical-Exam Insurance and Quick Approval: Midland National
- Best for High-Age Insurance Policies: John Hancock
Curious about the best choices? Compare quotes with our partner Covr Financial from several providers before sealing the deal.
(Top picks listed)
- Pacific Life: A financial powerhouse, Pacific Life sports a great financial strength rating, fewer customer complaints than expected, and a variety of products. It offers five variable universal life policies with guaranteed minimum interest and a range of investment strategies. Its indexed universal life products shine, with four options for investors seeking customized coverage and cash value growth.
- Up to $3 million in no-exam coverage
- Policies as small as $25,000
- Multiple universal life, indexed universal life, and variable universal life options
- No online quotes
- No online application
- No same-day coverage
- MassMutual: This company shines in financial stability and customer satisfaction. It holds the highest possible AM Best rating for financial strength and has the lowest NAIC complaint index on this list. MassMutual ranks third in J.D. Power's 2024 Life Insurance Study for customer satisfaction.
- Few complaints relative to market share
- Top-notch AM Best financial stability rating
- High customer satisfaction rating from J.D. Power
- No indexed universal life policies
- No-medical-exam coverage limited to $1 million
- Nationwide: This insurer earns points for living benefits and customer-friendly features. It includes critical, chronic, and terminal illness riders with its universal life insurance policies for free.
- Living benefits riders included for free
- Up to $5 million in no-exam coverage
- Few customer complaints
- No policies smaller than $100,000
- Midland National: This company's WriteAway accelerated underwriting program offers quick approval for universal life insurance coverage of up to $2 million with no medical exam (for eligible applicants). Applications usually take less than a week.
- Tobacco users can get coverage without a medical exam
- Living benefits riders included with policies
- Accelerated underwriting approval in less than a week
- Below-average J.D. Power customer satisfaction rating
- John Hancock: With coverage options available to applicants up to age 90, it's the highest age limit among companies Investopedia surveyed.
- Policies available to applicants up to 90 years old
- Two living benefits included for free
- No online quotes
- Below-average J.D. Power customer satisfaction rating
Explore life insurance ratings and reviews at Investopedia's site.
Why is universal life insurance worth a shot? It offers:
- Lifetime coverage
- Flexible premium payments and death benefits
- The ability to accumulate cash value tax-deferredly
But remember:
- Universal life insurance isn't for everyone.
- Choosing a policy requires careful consideration of factors like your age, health, and financial goals.
- Consult an expert to get tailored advice!
Sources:
- Investopedia (Various)
- AM Best (Various)
- J.D. Power, "2024 U.S. Life Insurance Study"
- Pacific Life's financial strength, low customer complaints, and variety of products make it a top choice for vitality in health-and-wellness and personal-finance investments.
- MassMutual, with its excellent financial stability and high customer satisfaction ratings, provides insurance stability that aligns with the principles of science and finance.
- Nationwide's universal life insurance policies, featuring free living benefits riders, offer an appealing combination of health-and-wellness security and personal-finance management.
- Midland National's accelerated underwriting program and living benefits riders facilitate quick insurance evaluations and a smooth investing experience.
- John Hancock stands out for offering high-age insurance policies, catering to a segment of investors seeking long-term health-and-wellness and financial security.
