Best Life Insurance Companies In Colorado For 2024

I believe that MassMutual deserved the title of Best Overall due to its many strong points. This company offers a wide selection of highest quality life insurance products, including term life, whole life, and universal life, all at competitive rates. MassMutual policies also offer a variety of riders that you can add to fit your circumstances.

The sales agents with MassMutual are expertly trained and well informed about life insurance. They’re sometimes called “career agents” and have had comprehensive training on the insurer’s life insurance who want to familiarize themselves with the various types of life insurance available.

MassMutual’s robust financial strength was another key factor in our selections. It has repeatedly received the highest rating possible from AM Best (A++ Superior) because of its sound financial strength along with its ability to pay claims.

Being chosen as the Best Overall reflects MassMutual’s commitment to offering a wide range of insurance products backed by an expert sales team, not just based on their rates. MassMutual might not have the level of brand recognition or market share as a few of its competitors in Colorado, but it’s  a well known and respected, reputable insurance provider within the state.

For many years, Mutual of Omaha has been commended for its dedication to addressing the life insurance needs of senior citizens. Seniors believe in this company, not only because of their famous television show “Mutual of Omaha’s Wild Kingdom,” but also because of the extensive training their agents undergo on serving the insurance needs of the senior insurance market niche.

This insurance carrier is well established in its line-up of senior life insurance products, including two coverage products that have been specially designed for seniors with health issues. One of these is a guaranteed issue policy that doesn’t require a medical exam or questions about your health history, making it a great choice for seniors with serious medical issues such as cancer, heart attack or stroke.

The other is a simplified issue policy that does require medical history questions but does not require a medical exam, making it an optimal selection for seniors with minor medical problems such as high blood pressure or Type 2 Diabetes, who don’t want to have a medical examination.

Transamerica is aware of its own strong points, and one of these strong points is life insurance rates for young adults that are affordable. This company understands that numerous young people are careful with their finances, especially when it comes to purchasing life insurance. This is the reason Transamerica has priced its rates to be within reach of a younger, more budget-conscious demographic trying to maximize their benefit while staying within their budget.

In addition, the Transamerica website caters to younger aged buyers, since this market is familiar with conducting business online. This group wants clear, to-the-point information that’s easy to find and equally easy to understand.

The Transamerica site is informative and user friendly, so its customers are able to navigate through their options easily and find the information they need. Transamerica has a firm belief that everybody—regardless of their age or budget—deserves the protection, security, and peace of mind that life insurance provides.

Life insurance providers face a challenging market with younger-age consumers. This is probably because many younger adults haven’t yet seen the necessity of having life insurance. They’re a demographic that tends to marry later and postpone buying life insurance until after marriage or having children. Companies such as Transamerica put their focus on offering life insurance to this age group because they have lower mortality rates, which means higher profits.

Transamerica received the lowest score in customer service of all the companies I reviewed. This could be because of their dependence on utilizing independent insurance agents for sales and service. Some independent agents working alone with no supervision from a company probably need to improve in both of those areas.

MassMutual, Colorado’s top life insurance provider, is a financially strong leader with competitive rates. While there are several insurance companies that offer low cost term life insurance, MassMutual’s rates are the most favorable.

While it isn’t advisable to base your life insurance purchase on price alone, the truth is that cost is a major factor among the majority of life insurance buyers. MassMutual offers the lowest rates for those looking for life insurance in Colorado, even though as a general rule this company is typically known for its professionalism instead of its affordability. MassMutual is committed to the expansion of its market share in Colorado, and is employing aggressive pricing strategies to achieve this goal.

Well known company with numerous local offices for sales as well as service. Their famous slogan: “Nationwide is on your side,” is certainly true for smokers in Colorado who are shopping for life insurance.

Although Nationwide’s rates for smokers are slightly higher than its main competitors, I concluded it’s the overall best choice for smokers because of its competitive rates, superlative customer service, and easy access to agents.

For many years, J.D. Powers has consistently recognized State Farm as a life insurance company with excellent customer satisfaction ratings, which are a reflection of the company’s dedication to outstanding policyholder service. This comes as no surprise, as State Farm has more agents in the field than any other insurance company in the U.S.

State Farm is acclaimed for its commitment to superb customer service, which is much appreciated by its policyholders. The company is unique in having numerous local neighborhood offices where its policyholders are able to meet with their local agent in person, to get the sales assistance or policyholder service they need.

State Farm is well known for above average customer service along with a prompt claims process, which is an important factor in the life insurance market, and even more so when a family is mourning and dependent on its life insurer for fast, compassionate assistance.