The Top Life Insurance Companies in Louisiana

Nationwide is the best life insurance company in Louisiana, scoring 97 for both men and women.

Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeeks Head of Insurance. He has been studying the insurance market for more than five years, doing his own research and making content that is specific to each type of buyer. He has been quoted in several insurance-related publications, including [CNBC](https://www. cnbc. com/2020/04/15/cant-keep-up-with-insurance-premiums-heres-what-to-do. html), [NBC News](https://www. nbcnews. com/business/autos/flooded-cars-are-problem-their-owners-future-car-buyers-n1278493) and [Mashable](https://mashable. com/article/tesla-insurance-rates). A bachelor’s degree from Boston College and a master’s degree in economics and international relations from Johns Hopkins University are what Fitzpatrick has to offer. He really wants to use his knowledge of insurance and economics to make financial topics clearer and help people feel good about the choices they make with their money.

Jlyne Ubina is a content editor at MoneyGeek. She has worked as a news and web content writer and research editor for over 10 years, writing about business, economics, and technology. She previously worked at a multinational media organization and a global market intelligence firm.

State Farm is the best life insurance company for women, with a score of 97 on MoneyGeek and a monthly premium of $26. For men, it also ranks highest with the same score and a slightly higher premium of $28.

The best policy for you may vary based on your specific circumstances, even beyond the highest scoring provider.

Why Should You Trust MoneyGeek? To find the best life insurance companies in Louisiana, we looked at 1,488 quotes, customer satisfaction scores, reports on the companies’ financial health, product offerings, and more.

As a Louisiana resident, having reliable life insurance is crucial to protect your loved ones With so many options to choose from, it can be tricky to identify the best life insurance companies for your needs

After analyzing Louisiana’s life insurance market, I’ve compiled this comprehensive guide on the top life insurance companies in the state. I’ll explain how different types of life insurance work, provide tips on choosing coverage, and recommend the best insurers for policyholders in Louisiana.

How Life Insurance Works

Before diving into top companies, let’s review the basics of how life insurance functions. There are two main types:

Term life insurance provides pure death benefit protection for a set period of time such as 10 20 or 30 years. It pays out if you pass away during the term. Term life tends to be affordable, especially when you’re young and healthy.

Permanent life insurance provides lifelong coverage, accumulates cash value, and allows you to borrow against the policy. Types include whole life and universal life. Permanent life has higher premiums but also a savings component.

When getting quotes you’ll choose a coverage amount term length or type, and any riders or add-ons. Your health, age, and other factors determine your rate. Picking the right company for your situation is key to maximizing value.

Choosing the Best Life Insurance in Louisiana

Below are tips for choosing the right life insurance policy in Louisiana:

Compare quotes – Get quotes from multiple highly-rated companies before deciding. This helps find competitive pricing.
Consider your budget – Opt for term life if you want affordable pure protection. Go permanent if you want lifelong coverage and cash value accumulation.
Check financial strength ratings – Choose an established insurer with strong financial backing and an “A” rating or higher from agencies like A.M. Best.
Factor in customer service – Pick a company known for smooth claims payments and helpful customer support.
Review policy options – Make sure the company offers customizable coverage limits, terms, and riders to suit your needs.
Check for discounts – Taking advantage of discounts for things like bundling policies can lower your rates.

Top Life Insurance Companies in Louisiana

Based on market research, below I’ve highlighted the top life insurance companies in Louisiana across different categories:

Overall Best Company: Legal & General America

Legal & General America, which operates under Banner Life and William Penn in some states, is my choice for the best life insurance company in Louisiana overall.

Here’s why it stands out:

Competitive pricing for healthy applicants and those with medical issues
“A+” rating from A.M. Best for financial strength
Option to convert term policies to permanent coverage later
Innovative accelerated underwriting using electronic data for fast approval

Legal & General America really checks all the boxes for an excellent life insurance provider in Louisiana. I highly recommend comparing quotes from them.

Best No Medical Exam Option: Pacific Life

For no medical exam life insurance in Louisiana, I suggest Pacific Life.

Highlights include:

Get up to $3 million in coverage without lab tests
All health classes can qualify, even with chronic conditions
A+ rating from A.M. Best for financial stability
Ability to apply and get approved in as little as 24 hours

Their streamlined underwriting makes Pacific Life a great pick for no medical exam life insurance needs.

Best Whole Life Pick: New York Life

New York Life stands out as a top choice for whole life insurance in Louisiana because of:

Over 175 years of history as a mutual company
Highest financial strength ratings from all major agencies
Dividends paid to policyholders to enhance cash value growth
Custom permanent policies with plenty of riders to pick from

For Louisiana residents seeking permanent, lifelong protection, New York Life is tough to beat.

Best for Seniors: AIG

For applicants aged 50 to 85, I recommend AIG for life insurance tailored for seniors. Here’s why:

Availability of term, whole, and universal life policies
Coverage up to $10 million for older adults
Underwriting expertise for common senior conditions
Specialty products like guaranteed issue whole life

AIG has the experience, flexibility, and products to meet the diverse needs of seniors seeking life insurance.

Finding the Right Fit in Louisiana

Choosing life insurance in Louisiana ultimately comes down to matching your specific situation with the company that offers the best fit.

Working with an independent agent that can provide quotes across multiple top-rated insurers is the easiest way to make apples-to-apples comparisons. This helps you find just the right coverage, term length, and price point.

life insurance companies in louisiana

Best Whole Life Insurance in Louisiana

How was this MoneyGeek score calculated?

MoneyGeek used the following weights to score and rank the best whole life insurance companies in Louisiana:

Financial Stability: 35%
Customer Satisfaction: 30%
Buying Process: 15%
Product Diversity: 20%

We did not weigh affordability as we did not collect whole life insurance quotes. The company below has the highest score among the companies that offer whole life insurance policies.

With a score of 99 from MoneyGeek, State Farm is clearly the best company in Louisiana for both men and women to get whole life insurance. Nationwide and Mutual of Omaha follow close behind:

State Farm: MoneyGeek score of 99 out of 100
Nationwide: MoneyGeek score of 98 out of 100
Mutual of Omaha: MoneyGeek score of 96 out of 100

Best Whole Life: State Farm

With a score of 99, MoneyGeek says that State Farm is the best whole life insurance company in Louisiana.

Pros:

High customer satisfaction
Diverse product offerings
Solid financial stability

Ensure youre getting the best rate for your life insurance. Compare quotes from top providers to find the most affordable life insurance coverage for your needs. widget-location-pin.

Louisiana life insurance claims

FAQ

How much does life insurance cost in Louisiana?

According to Policygenius data, the average cost of life insurance in Louisiana for a $500,000, 20-year term life insurance policy is $27 per month ($307 per year) for women and $32 per month ($373 per year) for men — but your exact rates depend on your personal health record, among other things.

Which is the leading life insurance company?

S.no	Insurance Company	Solvency Ratio (2022-2023)
1.	LIC of India	1.8
2.	Max Life Insurance	2
3.	HDFC Life Insurance	1.9
4.	ICICI Prudential Life Insurance	2

Which life insurance is best to get?

If budgeting is your biggest concern, term life insurance may be the best choice. If you have many dependents, whole life insurance may be a better route. However, if financial planning and cash value are most important to you, universal life insurance may be a strong option.