Top Life Insurance Companies in Missouri

Missouri has over 100 life insurance companies offering various types of policies to residents across the state. The right life insurance company for you depends on factors like your budget, coverage needs, and financial goals. This guide examines the top-rated life insurers providing policies in Missouri along with key considerations for choosing the best carrier.

Best Life Insurance Companies in Missouri

Based on financial strength, customer service, coverage options and cost, here are the top recommended life insurance companies for consumers in Missouri:

  • Banner Life – Banner Life is an affordable option with highly rated term and permanent life policies. They offer coverage from $100,000 up to $12 million without medical exams for qualified applicants.

  • Haven Life – Haven Life sells easy-to-understand term life policies completely online. They provide up to $3 million in coverage without medical exams and quick approval decisions.

  • Bestow – Bestow offers simplified issue term life insurance that you can buy online instantly without medical exams. Their app makes getting coverage fast and convenient.

  • Pacific Life – Pacific Life offers both term and permanent life insurance. They have over 150 years of experience, high financial strength ratings, and policies with living benefits.

  • Prudential – Prudential is one of the most recognized life insurance brands. They provide term, whole, and universal life plans with robust living benefits and options to earn interest on savings.

  • Lincoln Financial – Lincoln Financial sells term, universal, indexed, and variable life insurance. They have high ratings for financial strength and are known for excellent customer service.

  • AIG – AIG offers term, whole, and universal life insurance with good options for high-risk applicants like seniors and those with health conditions. Their quotes are customized for your needs.

  • John Hancock – John Hancock provides permanent and term life insurance tailored to your budget and goals. Their financial strength ratings are excellent and they offer a wide array of coverage options.

  • Mutual of Omaha – For over 100 years, Mutual of Omaha has provided affordable term, whole, and universal life insurance for individuals and families. You can also earn interest on policy savings.

  • Ohio National – Ohio National sells low-cost term, whole, and universal life insurance with excellent financial strength. They are known for high policyholder dividends on participating permanent life plans.

What to Look for in a Life Insurance Company

When comparing insurers in Missouri, keep these key factors in mind:

  • Financial strength – Choose a highly-rated company for long term stability. Look for insurers with “A” ratings or higher from agencies like A.M. Best.

  • Range of policies – Look for term, whole, universal or variable policies based on your budget and goals. More options provide flexibility.

  • Customer service – Select a company known for easy claims payment, helpful customer support, and an intuitive website/app.

  • Cost – Compare quotes from multiple insurers. Find one offering robust coverage at competitive rates. Consider rates by age, health, and coverage amount.

  • Policy features – Look for built-in living benefits like chronic illness riders, return of premiums, and long term care coverage.

  • Ease of application – Insurers with simplified issue simply require a short health questionnaire. This expedites approval decisions. Others require medical exams and records.

Types of Life Insurance Policies in Missouri

Life insurers in Missouri offer all major types of life insurance, including:

  • Term life – Provides death benefit coverage for a set period like 10, 15, 20 or 30 years. It’s the most affordable way to get substantial coverage.

  • Whole life – Offers lifelong coverage as long as you make monthly premium payments. It builds cash value you can borrow against.

  • Universal life – A flexible permanent policy with adjustable death benefits and premiums based on changing needs. You can earn interest on cash accrual.

  • Indexed universal – Links cash value accumulation to stock market gains for growth while protecting from losses. Requires less premium outlay than whole life.

  • Variable life – Allows allocating cash value to investment subaccounts so death benefits and savings fluctuate based on performance.

  • Guaranteed issue – Simplified policies for applicants who may not qualify for medically underwritten coverage. Death benefits are usually under $25,000.

Pick the policy aligning with your budget, timeline, and financial objectives. Many Missouri residents choose guaranteed issue life initially to get some coverage until health improves enough for higher benefits.

Things to Know About Missouri Life Insurance Regulations

A few important notes on Missouri’s regulations impacting life insurance consumers:

  • Life insurance is primarily governed by Missouri Revised Statutes Chapter 376 and 20 CSR 400-1 to 20 CSR 400-12.

  • For life policies, insurers must provide a 30-day examination period to review the contract after purchase.

  • Policyholders have a minimum grace period of 31 days to make premium payments after the due date before coverage lapses.

  • Missouri prohibits insurers from discriminating based on lawful travel destinations or gender identification for life insurance rates.

  • Insurers must inform applicants if they intend to obtain medical records or test results as part of underwriting.

  • Life insurance proceeds are exempt from creditors in Missouri. This provides financial protection for beneficiaries.

Compare quotes and policies from the top-rated life insurance companies in Missouri. Look for a financially strong insurer offering robust coverage with valuable built-in features at affordable rates. This ensures your beneficiaries will be taken care of while staying within your budget.

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Who is the most trustworthy life insurance company?

Best for
AM Best Financial Strength Rating
Life insurance coverage without a medical exam
A++ (Superior)
Mass Mutual
Whole life insurance
A++ (Superior)
Mutual of Omaha
Digital accessibility
A+ (Superior)
Customer satisfaction
A+ (Superior)

How much is life insurance in Missouri?

Average Annual Life Insurance Premium
Average Monthly Premium

What are the big four life insurance companies?

According to a 2021 NAIC report, Northwestern Mutual, New York Life, Metropolitan, and Prudential are the four largest life insurance companies in the United States, all together holding 31.09% of the market.

What are the 3 main types of life insurance?

Types of life insurance
Coverage length
Builds cash value?
Temporary — typically 10, 20 or 30 years.

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