FOSTER CITY, Calif., Dec. 2, 2016 (GLOBE NEWSWIRE) — Voya was ranked the best life insurance company in a new survey released today by Insure.com.
Insure.com surveyed 1,690 customers of 15 leading life insurance companies in the United States for its 2017 rankings of the best companies for life insurance.
Respondents to the survey gave ratings based on insurance company factors of value for price, customer service and likelihood to recommend.
Policyholders were not asked about likelihood to renew or claims process, as they were in our auto, home and health sections.
First place: Voya
- Overall score: 97.1
- Value for price: 4.75
- Customer service: 5
- Would recommend: 89%
Second place: State Farm Life Insurance
- Overall score: 92.5
- Value for price: 4.75
- Customer service: 4.75
- Would recommend: 87%
Third place: John Hancock Life Insurance
- Overall score: 90.4
- Value for price: 4.5
- Customer service: 4.5
- Would recommend: 89%
See scores and rankings for all 15 life insurance companies in the survey.
Penny Gusner, consumer analyst for Insure.com, observes, “The scoring factors for life insurance are different due to the one-time nature of life insurance policies. This ups the ante in each category, making each score worth more.”
This year, the life insurance category is topped with financial heavy hitters. Voya, formerly known as ING, and State Farm are both Fortune 500 regulars, and John Hancock, which has offered life insurance for over 150 years.
“The financial strength and reputation of your life insurance company is critical,” Gusner says, “as you want to be confident that company will still be around in 30 or so years.”
Insure.com’s Best Life Insurance Company survey removes the guesswork from finding the best companies in the industry. In one easy view, you can compare ratings and decide from which companies you’d like to request a quote.
For more details on the survey, including company scores and rankings across categories, please see the full feature on Insure.com.
Methodology
Insure.com commissioned Op4G to survey more than 1,690 insurance customers nationwide in June 2016. The survey collected customer ratings for 15 leading companies in the life category. Only current customers of the insurers on our lists were surveyed, and the survey was not open to the general public on the Insure.com website.
Life insurers were ranked according to a weighted 3-point measurement of the following factors: customer service, value for price and would recommend. Weighted measurements were derived from surveyed policyholders’ rank of prioritization of these factors.
The A.M. Best ratings, discounts and coverage options noted in the survey do not affect the scores, but are provided as a supplementary resource.
Insure.com makes these ratings freely available via this site. The views and opinions expressed by users do not reflect the views and opinions of Insure.com. Insure.com expressly disclaims any and all liability in connection with the ratings.
About Insure.com
Insure.com provides a comprehensive array of information on auto insurance, home insurance, health insurance, and life insurance. The site offers an extensive library of originally authored insurance articles and decision-making tools that are not available from any other single source, including its extensive car insurance discounts tool. For more information, please visit QuinStreet.com.
Twitter: @InsureCom
Diana Dang650.703.6349