When comparing all insurance policies, especially whole life policies premium rates are only one variable to consider. Engaging the services of an independent agent / broker would help you find the right policy at the right price.
If you are comparing whole life and the policy is non-participating example you can compare premium and the guaranteed cash value. This type of policy does not share receive dividends ( the divisible surplus) .
If you are comparing are whole life participating policy, then it is eligible for dividends. In this case, you will need to look at a company's financials. Dividends are of course are not guaranteed.
Availability of riders that can be added and premium payment period should also be considered.
Unfortunately, I cannot answer your question specifically without more information. I suggest you work with an agent / broker.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.
Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
There's no one company that offers the "best" whole life rates. The carrier that's going to offer the best rates for you may not be the carrier the offers the best rates for someone else. There are a number of factors that go into the calculation of rates for a policy, but that's only one area to think about.
Some carriers may offer participating whole life policies (paying dividends that can be used to buy paid-up additions, reduce the premiums, or pay cash to the policyowner) - other whole life policies may be non-participating (meaning they do not pay any dividends).
Another factor determining which program will be best for your needs is the risk class. People may qualify for different risk classes with each carrier because each person has a different medical history and each carrier has their own set of underwriting guidelines (some carriers may be more aggressive in their underwriting and others may be more conservative).
You'll want to consult with an independent life insurance agent/broker who can compare multiple companies to see who will offer you the lowest rates for what program you're looking to set up.
Whole life insurance rates actually vary more for the individual purchasing them than the insurance company itself. There are so many factors that go into calculating premiums for whole life insurance such as age, build, health, life style, etc. I recommend finding an independent life insurance broker to professionally shop the market for the best product at the best rate for your unique situation. Their services are free to you as a consumer.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
The best life insurance rate is the one on the policy that is in force on the day of the claim. Price is really not the issue if the policy isn’t in force. If the policy was in force but expired because the term of the policy expired, that wasn’t a good buy either. Determine how long you will want the coverage and purchase a policy from an agent that you trust.
Insurance Adviser - Broker, SC Insurance Services, Oahu, Hawaii
All the above answers are good and correct. If you mean which company offers the lowest premiums for Whole Life, I would answer that in my experience, Mass Mutual, then the Guardian, and then NY Life. All 3 are mutual companies and their Whole Life policies receive dividends in addition to the guaranteed interest on the cash value portion of the policies.
If you mean which company has the best performance with regard to their whole life policies cash values, again in my experience and to my knowledge the same 3 companies I named above and add NorthWestern and Sun Life. Of course what I like is the combination of lower premium and higher dividend interest rates that also buy more insurance while at the same time growing the cash value.
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If you are comparing whole life and the policy is non-participating example you can compare premium and the guaranteed cash value. This type of policy does not share receive dividends ( the divisible surplus) .
If you are comparing are whole life participating policy, then it is eligible for dividends. In this case, you will need to look at a company's financials. Dividends are of course are not guaranteed.
Availability of riders that can be added and premium payment period should also be considered.
Unfortunately, I cannot answer your question specifically without more information. I suggest you work with an agent / broker.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.
Some carriers may offer participating whole life policies (paying dividends that can be used to buy paid-up additions, reduce the premiums, or pay cash to the policyowner) - other whole life policies may be non-participating (meaning they do not pay any dividends).
Another factor determining which program will be best for your needs is the risk class. People may qualify for different risk classes with each carrier because each person has a different medical history and each carrier has their own set of underwriting guidelines (some carriers may be more aggressive in their underwriting and others may be more conservative).
You'll want to consult with an independent life insurance agent/broker who can compare multiple companies to see who will offer you the lowest rates for what program you're looking to set up.
If you mean which company has the best performance with regard to their whole life policies cash values, again in my experience and to my knowledge the same 3 companies I named above and add NorthWestern and Sun Life. Of course what I like is the combination of lower premium and higher dividend interest rates that also buy more insurance while at the same time growing the cash value.