Best Life Insurance In Bakersfield, CA For 2024

With roots dating back to 1851, MassMutual is one of the largest life insurance companies in the United States. The company offers an extensive range of life insurance products, from temporary term life insurance to permanent variable life insurance that includes investment-driven cash value accumulation.

As a mutual company (partially owned by policyholders), MassMutual pays out dividends on some of its permanent life insurance policies, much like other life insurance companies established a century ago or more.

MassMutual has an outstanding reputation that is well-earned. It holds the highest possible financial ratings, indicating a superior ability to pay out claims. Additionally, according to J.D. Powers’ 2022 U.S. Individual Life Insurance Study, it ranked 9th overall for customer satisfaction.

MassMutual’s life insurance policies are sold through a career agent sales force, with agents as company employees. This ensures that agents receive comprehensive product training, which benefits policyholders and prospective clients.

The company is known for offering high coverage limits with its life insurance policies. Term policies start at $100,000 and can go up to $10 million, which is advantageous for high-net-worth individuals and business clients.

Although MassMutual’s premiums are not the lowest, they are competitive compared to other companies with career agents such as New York Life and Northwestern Mutual Life. However, the high overhead associated with maintaining a career agent sales force may cause MassMutual’s premiums to be more expensive than those of other insurers that sell policies through independent life insurance agents.

In addition to offering a solid amount of different types of life insurance policies, MassMutual not only provides life insurance policies but also offers fixed and variable annuities, which can provide a lifetime income after a lump-sum deposit.

Founded in 1925 and based in Columbus, Ohio, Nationwide is a global financial services company that offers a wide range of insurance products, including life insurance, annuities, and more. In Bakersfield, Nationwide is one of the top life insurance providers, offering a variety of policies to meet different needs and budgets.

Nationwide’s life insurance policies include term life, whole life, and universal life insurance. The company sells its life insurance policies through its agent sales force, as well as through approved financial professionals who are carefully vetted by the company.

Nationwide also offers larger face amounts and annuities for businesses and is a popular choice among seniors in Bakersfield. When you visit Nationwide’s website, you’ll find a variety of insurance products, including long-term care and pet insurance. The site is easy to navigate and provides detailed product descriptions to help you with your decisions.

One of the unique features of Nationwide’s life insurance policies is the bundle discount, which can lower your rates if you combine your life insurance with auto and homeowners policies.

This not only simplifies your life when paying premiums but also provides comprehensive protection for your family and property with one company.

When it comes to life insurance, Nationwide may not be the best option for those looking for estate planning purposes. The company’s agents tend to focus more on property and casualty insurance, and they often sell life insurance as an add-on to existing policyholders.

However, if you’re looking for a bundle discount that includes life insurance, Nationwide is a great choice. Unlike some of its competitors, such as Liberty Mutual, Nationwide offers life insurance as part of its bundle discounts.

In Bakersfield, you can spot a State Farm office in just about every neighborhood. Their agents are always there to help, just like a friendly neighbor. They don’t just sell insurance, they’re also great at customer service!

Founded in 1922 as an auto insurance company, State Farm has since expanded to include many other types of insurance, such as homeowners and renters insurance. However, the company is not particularly renowned for its life insurance products.

Despite this, State Farm’s permanent life insurance policies, such as its whole life offering, are of high quality and shouldn’t be taken lightly. While State Farm’s term life insurance rates may not be the most competitive, the extra cost of working with an agent in your local area may be worth it.

Apart from having over 18,000 agents in the U.S., State Farm also has 343 claim offices and 30 operations centers, showing its commitment to customer satisfaction. This is why it consistently ranks at the top of JD Power’s annual release of life insurers’ customer satisfaction levels.

After personally buying life insurance from a State Farm neighborhood agent in Bakersfield, I can confidently say that their service was exceptional and the buying process was very convenient. If you are willing to pay a bit extra for the added convenience and excellent customer service, State Farm would be a great choice for life insurance in Bakersfield.

Most seniors in Bakersfield are likely familiar with Mutual of Omaha from growing up or watching the “Mutual of Omaha’s Wild Kingdom” TV show.

Mutual of Omaha is a mutual insurance company based in Omaha, Nebraska, which primarily targets Baby Boomers and their parents. I know this company well, having worked there for five years as an agent, trainer, and manager.

While United of Omaha, a subsidiary of Mutual of Omaha, sells life insurance to people of all ages, the company is best known for its life insurance for seniors. They also provide popular Medicare Supplement policies to seniors, and their travel insurance kiosks are often seen at the airport.

Mutual of Omaha offers a variety of life insurance options, including term, whole, and universal life, and their prices for permanent insurance are on the higher side, but still competitive.

However, they excel in the senior life insurance market, offering a “no medical exam” senior whole life insurance policy marketed as “Final Expense Insurance” to people between the ages of 45 and 80 in Bakersfield.

Although the policy doesn’t require a medical exam, you will need to answer questions about your medical history, and there is no guarantee that the policy will be issued.

For seniors seeking life insurance coverage with smaller face amounts ranging from $5,000 to $25,000 and lenient underwriting and application approval, Mutual of Omaha Senior Life is a great option. Additionally, the company’s customer service received high marks, ranking third in J.D. Power’s 2022 Life Insurance Survey..

When it comes to finding affordable life insurance in Bakersfield, look no further than Transamerica Life Insurance. Known for its competitive premiums, Transamerica offers some of the most affordable life insurance policies for younger adults, as well as individuals of all ages.

Unlike some of its competitors, Transamerica does not have a career salesforce. Instead, the company sells its life insurance products exclusively through independent life insurance agents or brokers, which helps keep their premiums low.

One of Transamerica’s most popular life insurance products is the Trendsetter Super Policy, which can provide up to $10 million in term life protection. If you’re in excellent health and your policy’s face amount is $2 million or below, you may not be required to take a medical exam when purchasing this policy.

The Trendsetter Super Policy is a convertible term life policy that allows you to convert your coverage to a permanent life insurance policy during the conversion period specified in the policy.

This flexibility allows you to start with a large face amount and low premium, and convert it to a whole or universal life insurance policy with a higher premium when your income increases.

In addition to its traditional life insurance policies, Transamerica offers life insurance to foreign nationals working in the United States. To be eligible for this type of coverage, you must have a global net worth of at least $1 million and be from one of 47 qualifying countries.

When it comes to purchasing life insurance on a budget, Transamerica stands out as an excellent option. Having sold Transamerica life insurance myself, I can confidently say that policies are issued and serviced with ease, providing a seamless experience for customers.

Owned by MassMutual, Haven Life is a newer insurance company that exclusively offers term life insurance policies. If you prefer to shop for insurance from the comfort of your home, Haven Life is a great option, especially for tech-savvy individuals.

Their primary product is Haven Term, which provides a maximum death benefit of $3 million and boasts competitive premiums, making it one of the top term life insurance options available in Bakersfield.

What sets Haven Life apart is its fully digital, hassle-free process. After providing some basic personal information and selecting your desired coverage amount, you can complete the streamlined application in under 15 minutes.

From getting a quote to filing a death claim, everything can be done online. The website is user-friendly, with clear instructions provided at each step.

Another advantage of Haven Life is that you won’t need to undergo a medical exam or meet with a paramedical professional in person. Instead, approval is based solely on your answers to medical questions, and the underwriting process is known for being fair.

Haven Life is an excellent option if you prefer a hassle-free, online experience when purchasing term life insurance. As a subsidiary of MassMutual, you can trust that your claims will be paid, and their customer service has received high ratings.