Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Nov 29, 2021

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The Facts of Life

  • There are many BBB accredited life insurance companies
  • The life insurance companies that are BBB accredited tend to be highly rated by other agencies
  • The most affordable life insurance companies that are BBB accredited will depend on age, gender, and health status

If you’re looking to find one of the best life insurance companies, it could help to start with life insurance companies that are BBB accredited. Good companies have good ratings from reputable agencies.

We know it’s hard to keep track of all of the life insurance company ratings and reviews. Throughout this article, we’ll help break down which companies are accredited and which have strong ratings.

In just a few minutes, you’ll have everything you need to decide if you want to pursue any of the life insurance companies that are BBB accredited. Until then, enter your ZIP code to get free quotes from top insurers near you.

Which life insurance companies are BBB accredited?

If you’re looking for life insurance in the USA, there are a handful of organizations that can help you assess the trustworthiness of a potential insurer. The Better Business Bureau, or BBB, is one of those organizations.

Agencies like the Better Business Bureau help us identify the best and worst life insurance companies based on how they treat customer complaints. Insurers are scored based on prompt and effective responses.

In this case, BBB accredited insurance companies have made an outstanding effort to respond to consumer complaints. There are many insurance companies that are accredited nationwide.

The companies from our top 10 life insurance companies that are BBB accredited include:

  • North American Company for Life and Health Insurance
  • Principal Financial Group
  • Savings Bank Life Insurance (SBLI)

Each of the above insurers boasts an A+ Better Business Bureau rating and is likely a good choice for life insurance based on customer service alone. Other major insurers that are accredited by the BBB include:

  • Nationwide
  • John Hancock Financial Services, Inc.
  • Mutual of Omaha

You can find BBB accredited life insurance in the USA with other companies, but the above six companies would be an excellent starting place to find a reliable insurer.

Keep in mind that the life insurance companies that aren’t BBB accredited may still have a BBB rating, but it will most likely be below the A+ boasted by those above.

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Which accredited life insurance company is the cheapest?

Life insurance ratings are undoubtedly important when determining which company will be the best option. Unfortunately, the cost of life insurance is another major consideration for most people.

Life insurance is typically a long-term expense, which makes it very important to find a company with reasonable rates. Finding affordable life insurance companies that are BBB accredited may or may not be easy.

Life insurance rates vary based on many factors. Below, you’ll find a comparison of rates from BBB accredited companies.

Sample 20-Year, $250,000 Term Rates From Life Insurance Companies That Are BBB Accredited
AgeNorth AmericanPrincipalSBLINationwideJohn HancockMutual of Omaha
25$13.86$13.78$12.80$23.59$14.21$13.33
30$14.30$14.00$12.94$16.02$14.79$13.55
35$14.96$14.22$14.75$16.02$16.86$14.84
40$20.02$18.55$18.71$21.36$22.09$20.64
45$30.36$28.13$27.78$35.16$31.54$30.75
50$43.56$40.86$47.51$53.85$49.24$45.80
55$67.54$63.83$79.76$80.77$78.24$72.24
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You can see above that there is some variance in rates between life insurance companies. The above rates are only for men, so rates could differ even more when considering multiple genders.

You may notice that SBLI starts as the most affordable option for young adults; however, that doesn’t remain the case for older adults. SBLI is actually one of the more expensive life insurance companies for older adults in this example.

Mutual of Omaha and North American tend to have the most consistent rates based on age. These could be reliable options for virtually anyone.

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What other ratings are important for BBB accredited insurance companies?

It’s not easy to identify the absolute best life insurance company, because different people have different needs. For example, parents can find a special list of the best life insurance companies via Consumer Reports.

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Other than BBB accreditation, it could be worthwhile to look at A.M. Best financial strength ratings or J.D. Power customer satisfaction scores. The A.M. Best ratings for the above companies are:

  • North American – A+
  • SBLI – A-
  • Principal – A+
  • Nationwide – A+
  • John Hancock – A+
  • Mutual of Omaha – A+

Each of the BBB accredited life insurance companies above boasts strong financial strength ratings from A.M. Best. Most of these companies also have strong customer satisfaction ratings via J.D. Power.

Nationwide, Mutual of Omaha, John Hancock, and Principal are all rated above the industry average for customer satisfaction. SBLI and North American were not rated in this study.

Life Insurance Companies That Are BBB Accredited: Key Takeaways

Overall, it appears that BBB accredited life insurance companies are strong options that tend to carry other good ratings as well. The best and most affordable company will depend on your coverage, age, and gender.

We hope you enjoyed learning about life insurance companies that are BBB accredited. Before you go, enter your ZIP code to get free quotes from top life insurance companies near you.