Insurance Company Listings and Ratings Guide for Insurance Agents and Brokers
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Insurance Company Listings and Ratings Guide for Insurance Agents and Brokers

Here is the latest revised version of the best insurance company lists. These are compiled into a top 100 ratings guide format. The listings are in alphabetical order to help insurance agents and brokers locate an insurer. Find out how your opinion compares. How can an insurance company be rated? I will briefly mention the various ways, show you which method I use for this article and why.

BY NUMBER OF AGENTS

This ratings guide listing method evaluates the insurer by the large number of currently licensed and contracted insurance agents and brokers. with carrier I feel this review is useless for a multitude of reasons. First, there are a number of professional health and life insurance agencies that have thousands of representatives. However, of these, up to 80% of all agents are relatively new to trying to establish credibility in the industry. Four years from now, only 6% of many insurance company agencies will maintain enough production to remain career representatives.

Furthermore, my findings uncover the inaccuracy of this method due to the license renewal process that state insurance departments impose on the insurer. Most state insurance departments submit renewal report forms annually. There is a fee that each renewed ins agent must pay. What makes it difficult is the variation of different paperwork procedures by individual states to weed out non-active ins representatives. The paperwork consists of expensive and time-consuming forms and procedures for the insurance company to make any changes. Renewing all sales reps is usually cheaper and is therefore the route the insurer usually takes. This also gives the insurance company bragging rights about how many salespeople write for them.

Personally, I was listed on state insurance department records as licensed for 11 years after writing my last case.

CO INSURANCE FINANCIAL RANKING LISTS
There are four or five major independent firms that use this rating of a company’s insurer based on a multitude of financial factors. Much has to do with projecting the financial stability of the insurer. This is accomplished by closely analyzing past and present financial history. It covers the return on the insurer’s investments and the rate of return. An insurance assessment also takes into consideration the amount of cash on hand and how much is in reserves to pay current and future claims.

There is a consensus among life insurance association members that the highest rated insurers are the best of the bunch. However, the members of the association represent less than 12% of the total producer base. The other insurance agents and brokers (the majority) do not agree that they are always the best for the needs of their clients. Logic tells you that a newer quality insurer doesn’t have a track record for starting out in the top ranks. In my situation, customers bought what I presented to them. Almost half of the time it was NOT the best rated company by the rating firms. However, I sold the client what his emotional needs demanded. Many insurance companies of the past with top 100 rankings later failed financially, and still frequently do so in today’s world.

BY RANKING OF PREMIUMS COLLECTED

This is a very common type of insurance company listing and rating to produce. Insurance companies are ranked by the total number of premiums they charged that year. It seems quite unfair to commingle annuity premiums with all the dollars raised. Producers know that it is easier to sell a $20,000 annuity than a term insurance policy with a $20,000 premium. The other flaw I find with the use of total premiums collected is who actually contributed a portion of the premiums collected. With some companies, a huge amount of these premiums were not collected by the average salesperson. Many institutional buyers directly purchased millions of dollars in annuity premiums.

FOR IMPORTANT QUALIFICATIONS FOR HEALTH AND LIFE SELLERS

This is my way. As fair and balanced from a sales representative’s perspective as possible. Premiums are collected from the 1,500,000 agents who try to make a living selling insurance policies in this industry. Often these sales are made one at a time. Furthermore, of these 450,000 independent brokers, semi-independent agents, and some career representatives write, depending on the company, 50% to 100% of that shared insurance business.

This method of classification is imposed because I believe that the list of insurance companies is intended to be a beneficial directory. One that independent riders, semi-independent reps, and some race reps can turn to. This is a guide directory for other insurers you may want to consider writing production for.

The list of insurance companies and the top 100 ratings guide are deliberately arranged in alphabetical order rather than by premiums or financial data. You may not fully agree with the listing, because we have left some companies with a high percentage of business sold in annuities and investment products.

In the eyes of a typical life and health broker, this guide to life and health insurance companies is as accurate as it gets.

1.Aetna 2. AIG Life Insurance Company** 3. Allianz Life Insurance Company of North America 4. American Family Life Assurance Co of Columbus 5. American Fidelity Assurance Company 6. American General Life and Accident INS Co** 7. American General Life Insurance Company** 8. American Income 9. American Memorial 10. American National Life 11. Americo Financial Life and Annuity 12. Anthem Blue Cross 13 Aurora National Assurance 14 Aviva Life and Annuity Company 15. AXA Equitable 16. Bankers Life and Casualty Company 17. Banner 18 Beneficial Life 19. CM Life Ins 20. Colonial Life & Accident 21. Columbus Life 22. Conseco Life 23. Farmers New World 24. First-Penn Pacific 25. Forethought 26. General American 27. Genworth 28. Gerber 29. Great American 30 Great-West Life & Annuity 31. Guardian 32. Hartford Life and Accident Ins Company 33. Hartford 34. Homesteaders 35. Indianapolis Life 36. ING 37. Jackson National 38. John Hancock 39. John Hancock Life Insurance Company USA 40. Kansas City Life 41.. Lafayette 42.. Liberty Life Assurance Co of Boston 43.. Liberty National 44.. Life Ins Company of North America 45. Life Ins Company of the Southwest 46. Life Investors Ins Co of America 47. Lincoln Benefit 48 Inheritance Lincoln 49. National Lincoln 50. Massachusetts ts Mutual 51. Metropolitan 52. Midland National 53. Minnesota Life 54. Monumental Life 55. MONY – America 56. MONY – New York 57. National Guardian 58. National Life 59. New England Life 60. New York Life Ins and Annuity Corporation 61. New York Life 62. North American Co for Life & Health Ins. 63. Northwestern Mutual 64. Ohio National Life 65. OM Financial 66. Pacific Life 67. Penn Mutual 68. Phoenix Life Ins 69. Primerica 70. Principal 71. Protective 72. Provident Life and Accident 73. Pruco 74. Prudential – America 75 Reassure America 76. Reliance Standard 77. ReliaStar 78. Riversource 79. Security Life of Denver and 80. Standard 81. Stonebridge 82. Sun Life and Health 83. Sunset 84. Surety 85. Symetra 86. Transamerica 87. Transamerica Occidental 88. Trustmark 89. US Financial 90. Union Central 91. Union Security 92. United Healthcare 93. United Ins Company of America 94. United Investors 95. United of Omaha 96. United States Life 97. Unum 98. West Coast 99. Western and Southern Life 100. Western Reserve Life Assurance Co of Ohio Note: Sagicor Life, Foresters, and Illinois Mutual should appear in the bottom 3 lists, replacing companies listed above as #6, #2, and #7.

**AIG Life Insurance Company, American General Life, American General Life and Casualty Reviews

This group of companies USED to be one of the highest premium generating and highest rated insurance companies in the United States. Still, after two massive federal bailouts, the future is uncertain. Therefore, AIG Life is no longer serving to be in this top 100 list guide.

GUIDE TO QUESTIONABLE LIFE INSURANCE COMPANY LISTINGS

The following lists of insurance companies could often be included in different types of some of the top 100 life insurance company rankings. YES you were evaluating written premiums. Sometimes the premiums consist of substantial amounts of annuity premiums. Also included would be insurers where a large portion of sales do not come from representatives and salespeople. Instead, it is written by independent stock brokerage firms and stockbrokers of variable investment contracts that are not governed by insurance departments. In other cases, the products may be targeted strictly at teachers, the military, or credit unions. In a couple of cases, there are companies with pending litigation. Below is a representation of this combination of insurers:

1. Cuna Mutual 2. Genworth Life and Annuity 3. Harford Life and Annuity and 4. John Hancock Variable Life 5. Mayflower National 6. Metlife – Connecticut 7. Metlife Investors USA 8. MML Bay State 9. Nationwide 10. Nationwide Life & Annuity 11. NYLife of AZ 12. PHL Variable 13. Sun Life Assurance Co of Canada 14. Teachers Ins and Annuity Assoc of America 15. USAA 16. Shenandoah — financial hardship

There are a total of over 600 “active” licensed life/health companies in every state in the United States. However, some are not currently writing new businesses. Also, there are many assets in just one or a few states, so you will find them missing from the lists of major insurance companies. Most states have an actual head count of 220 to 330 home life and health offices currently accepting new cases from licensed agents and brokers.

The advisor’s prediction. If I choose from the vendor list above, Foresters would be my first choice as the next rising star. Their innovative niche products are starting to create a huge demand. Also look at Genworth, its stock value has skyrocketed and the company adapts very well to market opportunities.

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