When it comes to buying life insurance, most people shop for a good price. They also tend to want a well-known brand name.
We surveyed current customers of large life insurance companies to ask about shopping for life insurance and customer satisfaction. We also asked whether they would choose the same company again.
New York Life is the best life insurance company in our survey. It topped the rankings with an average rating of five stars for overall satisfaction from customers.
Overall satisfaction rankings
|Rank||Company||Overall satisfaction||Would you choose the same company again?|
|1||New York Life||Yes: 67%||Maybe: 28%||No: 5%|
|Yes: 88%||Maybe: 10%||No: 2%|
|Yes: 78%||Maybe: 17%||No: 5%|
|Yes: 85%||Maybe: 13%||No: 1%|
|Yes: 70%||Maybe: 27%||No: 3%|
|Yes: 73%||Maybe: 23%||No: 3%|
|Yes: 93%||Maybe: 7%||No: 0%|
|Yes: 85%||Maybe: 12%||No: 3%|
|9||State Farm Life||
|Yes: 59%||Maybe: 33%||No: 8%|
|Yes: 91%||Maybe: 9%||No: 1%|
|11||MassMutual||Yes: 66%||Maybe: 31%||No: 3%|
|12||Guardian||Yes: 93%||Maybe: 5%||No: 3%|
|Yes: 81%||Maybe: 15%||No: 4%|
|14||AXA Equitable||Yes: 95%||Maybe: 3%||No: 2%|
|Source: Source: EverQuote, based on a survey of 2,250 life insurance customers of the companies in March 2018. Percentages might total more than 100 due to rounding.|
Most likely to be chosen again
Among the life insurance companies included in the survey, AXA Equitable, Guardian Life and Pacific Life had the highest percentage of customers who said they would choose the companies again. In fact, Pacific Life had no customers in the survey who said they would not choose them again.
|Company||I would choose them again|
Price satisfaction ratings
Lincoln National was rated the top life insurance company for price satisfaction among customers we surveyed.
|Company||Price satisfaction ratings|
|New York Life|
|State Farm Life|
|Source: EverQuote, based on a March 2018 survey of current customers of each company.|
Compare: Life insurance quotes
Comparing life insurance quotes from at least a few companies is important when shopping for life insurance. Among people who have regrets about their life insurance shopping experience, the biggest one was that they didn't shop around for prices more.
In addition, life insurance quotes will vary among insurers based on your age, health and other personal factors. Even if you have some medical problems, it's a good idea to shop around and compare rates.
What's your biggest regret from the last time you shopped for life insurance?
Close to half of people we surveyed wish they had compared prices more the last time they shopped for life insurance.
|I wish I had shopped around for prices more||48%|
|I wish I had looked at ratings for customer satisfaction||21%|
|I wish I had researched coverage choices more||8%|
|Source: EverQuote, based on a survey of 2,250 life insurance customers in March 2018.|
Customer service satisfaction ratings
New York Life is the best life insurance company for customer service among the insurers in our survey.
|Company||Customer service satisfaction ratings|
|New York Life|
|State Farm Life|
We asked customers whether they had used their life company's website to get information about either life insurance or their own policies. Among those who had (85% of customers surveyed), State Farm Life's site received the highest rating.
How did you choose your life insurance company?
Life insurance customers we surveyed said that price and a well-known brand-name were important factors in their choice of insurer. Commercials and reviews played a role for about a third of people.
|I shopped around for a good price||53%|
|I wanted a well-known brand name||49%|
|I considered ads/commercials||34%|
|I looked at online customer reviews||32%|
|I looked at ratings for customer satisfaction||28%|
|It was recommended by a friend or family member||26%|
|I wanted certain coverage options||25%|
|Source: EverQuote, based on a survey of 2,250 life insurance customers in March 2018. Respondents could choose more than one answer.|
EverQuote surveyed 2,250 current customers of large life insurance companies in March 2018. The survey was not open to the public on EverQuote.com.