As you get older, you have to start preparing for the time when you’re no longer around. life insurance also guarantees your family’s financial security when it comes to expensive funeral costs. However, ThinkAdvisor states that only 62% of people have insurance, even if 85% of them think it’s a good decision.  Most people seem to think that insurance costs much more than it actually does. To that end, here are some of the top life insurance policies.
What Is Life Insurance?
Life insurance is important, as it protects your family and lets you leave them a non-taxable amount at the time of death. It is also used to cover your mortgage and your personal loans, such as your car loan. Your individual life insurance follows you when you retire and you are no longer insured by your employer. Here are some options to consider:
1. State Farm Life Insurance
You can pick between fixed term and permanent options with State Farm. With a term policy, your beneficiary gets a fixed amount of money (Usually $250,000) if you pass before a specified time period. Most brokers in this company will suggest a term of 30 years, but you can choose a between 10, 20, and 40-year options as well.
Costs vary depending on risk and lifestyle choices, so older customers and smokers will have to pay much more. Moreover, permanent life insurance costs more on average, even if you’re young and healthy, as much as $200 per month.
State Farm offers three different packages including Term Life, Universal Life, and Whole Life. Term Life is the best bargain, and Universal Life has the best coverage.  But it’s always best to get the details from a company representative.
2. AIG Life Insurance
The financial crisis of 2008 gave AIG a bad rep,  but it’s still one of the top insurance companies on the planet. AIG has a universal and whole life insurance policy, as well as something unique, a Quality of Life option. The Quality of Live policy pays out most of the premium after you die, but beneficiaries can get some benefits if you’ve contracted a terminal or chronic disease.
Finder and Quotacy state that if you’re in your 20s, and in good health, you will pay less than $20 each month for an AIG term policy worth $500,000.  Keep in mind that every company’s premiums increase as you get older or adopt risky changes to your lifestyle, so in your 50s, you’ll have to shell out over $100 for the same policy.
The only trouble with AIG is that it’s ranked the worst out of 24 companies in terms of customer satisfaction according to NerdWallet and the 2017 study from J.D. Power. 
3. Mutual of Omaha Life Insurance
Mutual of Omaha has an unlimited, term, or a whole life insurance policy. Monthly costs depend on your age, lifestyle choices, and other circumstances. For a $100,000 payout, a 30-year-old that doesn’t smoke will pay $10 monthly for a term policy lasting 10 years. A smoker in his 50s from NYC would pay over $60 for the same plan.
Mutual of Omaha has many policies, but none are as good as the Guaranteed Universal Life plan if you want a full payout after death. However, the Income Advantage policy can increase in value depending on the market. Lastly, J.D Power and NerdWallet give this company an average customer satisfaction rating, while their overall ranked 8th best. 
Your Family’s Well-Being Might Depend on a Life Insurance Policy
The best way to help your family once you’re gone is with the right life insurance policy. That’s why it’s crucial that you select the best plan for your situation. It’s always a good idea to do as much research as possible before making a final decision!