Best Life Insurance Companies In Portland, OR

As the biggest seller of life insurance in the United States, Northwestern Mutual offers term and permanent life insurance, with its term life being convertible to permanent coverage without the insured needing to take a medical exam.

In Portland, Northwestern Mutual has dominated the life insurance market and captured the largest market share among major insurers. The company’s success is not due to excessive advertising but rather because of its dedication to educating people about the importance of life insurance and helping them choose a policy that best suits their needs.

Additionally, Northwestern Mutual’s agents tend to stay with the company for extended periods, resulting in a high policy retention rate and financial stability, making it one of the most secure companies in the insurance industry. It is projected to pay $6.8 billion in dividends to qualifying policyholders in 2023.

We find it fitting that the largest life insurance company in America with the biggest slice of market share in Portland is our Best Overall category winner. Northwestern’s Mutual’s commitment to training its agent and paying them well has led to high agent retentions as employees, which is why the company also has high ratings from its customers.

New York Life is also a mutual insurance company, meaning its policyholders own it. It will pay out over $2 billion in dividends in 2023. It’s also one of the life insurance industry’s oldest companies and offers a full complement of term and permanent life insurance policies.

New York Life is an excellent choice for people looking for large face amounts of life insurance. Its Million Plus Level Term 10 policy offers $1 million or more of coverage at a flat rate for the first ten years. After that, the premiums increase. Most of its term life insurance policies can be converted to permanent policies.

The company is well-known for its whole life insurance policies, including one that lets you customize the payment schedule. This is a benefit for people whose incomes fluctuate or who want to pay off the policy early. Its Secure Wealth Plus whole life policy can be paid off in 10 years for people ages 0 to 60.

New York Life, “The Company You Keep,” placed a close second as it captured the title of Best Runner-up. Though it’s headquarters is in New York, the company has a strong presence on the West Coast, including Portand. It’s permanent life insurance products rank right behind Northwestern Mutual, which is saying a lot.

Founded in 1851, MassMutual offers a wide range of products, including term, whole, and universal life. Its variable universal life insurance includes flexible premiums and investment opportunities.

MassMutual is a name that seniors are very comfortable with. It has consistently advertised over the years and is synonymous with stability and financial strength. Many seniors are concerned that smaller insurance companies or those they’re not familiar with may not be able to pay the policy’s death benefit when the need arises, but they don’t have that concern with MassMutual.

MassMutual’s premiums for policyholders are also the most competitive of the insurers we reviewed for the Portland market. The company is not known for having cheap life insurance premiums, but it has been very aggressive with its pricing for seniors in Portland.

MassMutual is another East Coast based company that is very competitive in Portland, especially in the senior life insurance market. The company has the lowest rates for Portlans seniors, which is important as many are retirees on a fixed-income. Having affordable life insurance from a quality company like MassMutual provides seniors in The City of Roses with some much-needed peace of mind.

Though Mutual of Omaha is best known for its senior life and Medicare supplement insurance products, we found it to be the best for young adults in Portland, mainly because of its low premiums for this demographic. Budget is always a concern with young adults, and Mutual of Omaha has obliged them with competitive pricing.

The company’s whole life insurance policies are also a good investment for people in their 20s and 30s who are climbing the ladder professionally. In addition to providing a life insurance benefit, these policies accumulate cash value, which can be partially withdrawn or borrowed if the need arises, such as for a down payment on a new home or funding a child’s education.

Mutual of Omaha ranks very high on the J.D. Powers rankings for customer satisfaction, and the company is very solid financially. Younger life insurance buyers are selecting a company they can keep for decades when they choose Mutual of Omaha.

Young adults are not the largest group of life insurance buyers, but they are the most cost-conscious. Mutual of Omaha advertises heavily in Portland, which gives it name recognition among the younger crowd. Mutual’s low rates have helped it grow its market share in Portland, along with the fact that it sells policies with lower face amounts.

For life insurance buyers who want to conduct business online without the involvement of an agent, Haven Life is ideal. The company’s application process is 100% online, and the company says it can be completed in about 25 minutes.

Haven Life only sells term life insurance, with one of the policies being a no-medical exam term policy. This works well for people who are averse to providing a blood sample and going through a physical examination.

While Haven specializes in term insurance, it offers choices for buyers. Policy face amounts range from $25,000 to $3 million, and policy terms can be between five to 30 years.

Though Haven Life isn’t a household name and doesn’t have a J.D. Powers customer satisfaction rating, it is backed financially by MassMutual, one of the most respected names in the life insurance industry.

Offering a 100% online buying experience continues to grow in importance as people become more comfortable with the digital security financial services companies are now providing. Just about all age groups are interested in the convenience of buying life insurance online, and Haven Life has made it easy to conduct this important transaction from the comfort of home on your desktop or laptop computer.

If you’re looking for cheap life insurance in Portland, Oregon, look no further than Nationwide. Known for having the lowest rates among life insurers in the area, Nationwide offers a variety of life insurance products, including term and permanent policies like whole life, universal life, and variable universal life insurance. Nationwide also provides a no-exam life insurance plan if you’re looking for a hassle-free option.

With a team of highly skilled career and independent agents representing Nationwide, you can trust that you’ll receive accurate pricing and excellent service. Plus, with numerous neighborhood offices in Portland, finding a local agent is easy. You can also call the home office to connect with an agent who can assist you with your needs.

Nationwide has earned superior financial ratings and has high customer satisfaction levels, making it one of the best life insurance companies in the industry. Quality protection at an affordable price has helped make Nationwide a household name in America.

Portland residents deal with the high cost of living on the West Coast, which makes them discerning buyers of goods and services, including life insurance. Nationwide meets the financial needs of cost-conscious life insurance buyers better than any major national insurer. Additionally, Nationwide’s longevity and excellent customer service make it an even better value than many of its competitors.