North Dakota Life Insurance

Life insurance is a crucial financial decision that can protect your loved ones and secure their future in case of your death. However, choosing the best life insurance company and policy can be challenging, especially if you live in North Dakota. There are many factors to consider, such as the cost, coverage, benefits, and customer service of each company. To help you make an informed choice, here is a comparison of the pros and cons of the top 5 life insurance companies in North Dakota, based on the amount of premiums they sold in the state in 2018.

1. Northwestern Mutual

Pros: This company has the highest market share in North Dakota, with 8.72% of the premiums sold in 2018. It also has a strong financial rating and a low complaint ratio. It offers a variety of life insurance products, such as term, whole, universal, and variable universal life insurance. It also provides financial planning and investment services to its customers.

Cons: The downside of Northwestern Mutual is that it does not offer online quotes or applications. You have to contact a financial advisor to get a quote or buy a policy. This may limit your options and convenience if you prefer to shop online. The company also has higher rates than some of its competitors for some policies and age groups.

URL: https://www.northwesternmutual.com/

2. Lincoln Financial

Pros: Lincoln Financial is the second-largest life insurance company in North Dakota, with 6% of the premiums sold in 2018. It has a good financial rating and a low complaint ratio. It offers a wide range of life insurance products, such as term, universal, variable universal, indexed universal, and survivorship life insurance. It also has some unique features, such as accelerated death benefits, long-term care riders, and chronic illness riders.

Cons: The drawback of Lincoln Financial is that it does not offer whole life insurance, which may be a disadvantage if you want a permanent policy with guaranteed cash value and dividends. The company also does not offer online quotes or applications. You have to contact an agent or a broker to get a quote or buy a policy.

URL: https://www.lfg.com/

3. Great-West

Pros: Great-West is the third-largest life insurance company in North Dakota, with 5.9% of the premiums sold in 2018. It has a good financial rating and a low complaint ratio. It offers term and universal life insurance products, as well as annuities and retirement plans. It also has some flexible features, such as adjustable premiums and death benefits, cash value access, and optional riders.

Cons: The downside of Great-West is that it does not offer whole or variable life insurance products, which may limit your choices if you want more investment options or guaranteed cash value growth. The company also does not offer online quotes or applications. You have to contact an agent or a broker to get a quote or buy a policy.

URL: https://www.greatwest.com/

4. New York Life

Pros: New York Life is the fourth-largest life insurance company in North Dakota, with 5.86% of the premiums sold in 2018. It has an excellent financial rating and a low complaint ratio. It offers a variety of life insurance products, such as term, whole, universal, variable universal, and custom whole life insurance. It also provides financial planning and investment services to its customers.

Cons: The drawback of New York Life is that it does not offer online quotes or applications. You have to contact an agent or a financial advisor to get a quote or buy a policy. The company also has higher rates than some of its competitors for some policies and age groups.

URL: https://www.newyorklife.com/

5. Nationwide

Pros: Nationwide is the fifth-largest life insurance company in North Dakota, with 5.53% of the premiums sold in 2018. It has a good financial rating and a low complaint ratio. It offers term, whole, universal, variable universal, and indexed universal life insurance products. It also has some unique features, such as living benefits riders, long-term care riders, and chronic illness riders.

Cons: The downside of Nationwide is that it does not offer online quotes or applications for most of its policies. You have to contact an agent or a broker to get a quote or buy a policy. The company also has higher rates than some of its competitors for some policies and age groups.

URL: https://www.nationwide.com/

Summary and recommendation:

Based on the comparison of the pros and cons of the top 5 life insurance companies in North Dakota, the best policy for you may depend on your personal needs, preferences, and budget. However, if you are looking for a company that offers online quotes and applications, a variety of life insurance products, and competitive rates, you may want to consider MoneyGeek's top-rated company in the state: MassMutual. MassMutual has a 3.94% market share in North Dakota, an excellent financial rating, and a low complaint ratio. It offers term, whole, universal, variable universal, and guaranteed acceptance life insurance products. It also provides online quotes and applications for some of its policies, as well as financial planning and investment services to its customers. You can get a quote or buy a policy from MassMutual's website: https://www.massmutual.com/