Best Life Insurance Companies In Sacramento, CA

MassMutual, one of the largest life insurance companies in the U.S., was founded in 1851. It offers a wide range of life insurance products, from temporary term life insurance to investment-driven cash value accumulation policies like variable life insurance.

As a mutual company owned by policyholders, MassMutual pays out dividends on some of its permanent life insurance policies, a characteristic shared by many insurance companies with century-old roots.

MassMutual has earned an excellent reputation and is deserving of it. The company has the highest financial ratings, which indicates superior claims-paying ability. Additionally, according to J.D. Powers’ 2022 U.S. Individual Life Insurance Study, MassMutual ranked 9th overall for customer satisfaction.

MassMutual’s life insurance policies are sold through a career agent sales force, which means that agents are company employees. This structure provides a comprehensive product training program that benefits both policyholders and prospective clients.

The company is renowned for offering high coverage limits with its life insurance policies. Its term policies start at $100,000 and can go as high as $10 million, making it an ideal option for high-net-worth individuals and business clients.

While MassMutual may not be known for having the lowest premiums, its high overhead associated with maintaining a career agent sales force contributes to the company’s competitive pricing compared to other companies with career agents, such as New York Life and Northwestern Mutual Life.

Along with various life insurance policies, MassMutual also offers fixed and variable annuities that can be useful for generating a steady income stream. By depositing a lump sum, you can receive regular payments for the rest of your life.

Located in Columbus, Ohio, Nationwide is a renowned financial services provider that has been in operation since 1925. It’s an excellent choice for those seeking life insurance coverage, and it’s also a close runner-up for being the best overall life insurance company in Sacramento.

Nationwide offers a wide range of life insurance products to meet your specific needs, such as term life, whole life, and universal life policies. The company has a sales force of expert agents that can help you select the right coverage, but it also partners with approved financial professionals who have been carefully vetted by the company.

Aside from individual life insurance policies, Nationwide caters to the business market by offering larger face amounts and annuities. It’s also a popular choice among seniors.

On Nationwide’s website, you’ll find an extensive array of insurance options, including long-term care and pet insurance. The site is user-friendly, and it provides detailed descriptions of the different types of policies available, which can help you make informed decisions about the coverage that suits you best.

Moreover, Nationwide offers bundle discounts to customers who combine their life insurance with auto and homeowners policies. This not only saves you money, but it also makes it easier to manage your policies with one company. By choosing Nationwide, you can protect your family and property with a reliable insurance provider that simplifies your life when paying premiums.

If you’re in Sacramento and thinking about buying life insurance for estate planning purposes, you might want to consider other sources of assistance aside from Nationwide agents. While the company’s agents are experts in property and casualty insurance, they tend to 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 an excellent option. Unlike some of its top competitors, such as Liberty Mutual, Nationwide does offer life insurance policies, making it a wise choice for those seeking bundled coverage.

Haven Life, owned by MassMutual, is a newer player in the life insurance market, but it offers a compelling option for tech-savvy individuals who prefer to shop for insurance from the comfort of their homes in Sacramento.

Haven only offers term life insurance, but its Haven Term product, with a maximum death benefit of $3 million, is very competitive in terms of premiums and is considered one of the best term life insurance options available in Sacramento.

Haven makes the online application process simple and fast, with a streamlined application that takes less than 15 minutes to complete. Plus, all transactions with Haven Life are fully digital, from getting a quote to filing a claim. The website is user-friendly and easy to navigate.

One significant advantage of Haven Life is that it does not require a medical exam. Approval is based solely on the answers to medical questions, which are known for their fairness. This means no medical professionals will visit your home or office, making the process even more convenient.

For those in Sacramento who want to buy term life insurance online, Haven Life is a great option to consider. Owned by MassMutual, you can feel confident that your claim will be paid when the time comes.

Additionally, Haven Life’s customer service has received high ratings, making them a reliable choice.

Transamerica Life Insurance offers some of the most affordable life insurance options in Sacramento. Their premiums are highly competitive, especially for younger adults, but remain affordable for all age ranges.

Transamerica exclusively sells its life insurance products through independent life insurance agents, or “brokers,” which helps to keep its premiums low. Unlike some other insurers, they don’t have a dedicated sales force.

Their flagship life insurance product is the Trendsetter Super Policy, which offers up to $10 million in term life protection. If you’re in excellent health and purchase this policy with a face amount of $2 million or less, you likely won’t be required to take a medical exam.

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

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

Transamerica also offers life insurance to foreign nationals working in the United States. To qualify, you must be from one of the 47 qualifying countries and have a global net worth of at least $1 million.

If you’re looking for the most cost-effective option when it comes to life insurance in Sacramento, Transamerica should be at the top of your list. As someone who has sold Transamerica life insurance, I can attest to the ease of having policies issued and serviced without any issues.

In Sacramento, it’s hard to miss a State Farm office in almost every neighborhood. With their local agents, State Farm has built a reputation for being a reliable and helpful insurance provider, there for you “like a good neighbor” not only during the purchasing process but also for customer service needs.

Founded in 1922 as an auto insurance company, State Farm has since expanded to offer a variety of insurance products, including homeowners and renters insurance.

While State Farm may not be the first name that comes to mind for life insurance, their permanent life insurance policies, such as their whole life policy, are of high quality and should not be overlooked.

While their term life insurance rates may not be the most competitive, if you prefer to work with a local agent and don’t mind paying a little extra for that convenience, their rates are still reasonable.

With over 18,000 agents across the United States, as well as 343 claim offices and 30 operations centers, State Farm is committed to customer satisfaction. It’s no surprise they consistently rank highly on JD Power’s annual release of life insurers’ customer satisfaction levels.

As someone who has purchased life insurance from a State Farm agent in Sacramento, I can confirm that their service is exceptional and the buying experience is very convenient.

If you are willing to pay a slightly higher premium for the benefits of superior customer service and neighborhood convenience, then State Farm is definitely worth considering.

Most seniors in Sacramento may have grown up or raised their children watching the “Mutual of Omaha’s Wild Kingdom” television show, making them very familiar with Omaha. Mutual of Omaha, located in Omaha, Nebraska, is an aptly named mutual insurance company owned by its policyholders. As an agent, trainer, and manager with the company for five years, I know it well.

While the company sells life insurance to people of all ages through its subsidiary, United of Omaha, it primarily targets Baby Boomers and their parents. In addition to life insurance for seniors, Mutual of Omaha is a popular provider of Medicare Supplement policies and travel insurance.

Mutual of Omaha offers a wide range of life insurance policies, including term, whole, and universal life insurance. Their prices for permanent insurance are on the higher end of the pricing spectrum, but still competitive.

For life insurance for seniors, Mutual of Omaha shines. The insurer is well-known for its “no medical exam” senior whole life insurance policy, available to people between the ages of 45-80.

The policy is marketed as “Final Expense Insurance,” but it is simply a whole life insurance policy with a smaller face amount. While a medical exam is not required, questions regarding medical history must be answered, and the policy’s issuance is not guaranteed.

If you’re a senior in Sacramento looking for smaller face amounts of life insurance (ranging from $5,000 to $25,000) with easy underwriting and application approval, you may want to consider Mutual of Omaha senior life.

Not only is it a well-known provider of senior life insurance, but it also ranks high in customer satisfaction, coming in third in J.D. Powers’ 2022 Life Insurance Survey.