Best Variable Life Insurance Companies

There are several different types of life insurance coverage on the market. Each of them had different advantages and disadvantages that you will need to consider to ensure that you’re getting the best protection available. There are a lot of people that want more from their life insurance than just a traditional term plan.

What is a Variable Life Insurance Plan?

Variable life insurance is a unique type of coverage that has several pros and cons that you should be aware of when you’re shopping for life insurance. These types of plans are not perfect for everyone.

The first thing that you should know is that variable life insurance is a whole life insurance plan, which means that it’s permanent coverage. As long as you pay the monthly premiums, you will have life insurance.

Inside of the variable life insurance plan is a cash value component. The longer that you pay the premiums for your plan, the more value that’s inside of that policy. With a traditional whole life insurance policy, you can use that cash value to secure a loan against or to pay the monthly premiums for the policy.

One of the ways that a variable life insurance is different is that the cash value component of the plan is going to be invested into sub-accounts. These sub-accounts are pretty many mutual funds that you can only invest in through your life insurance policy. Because these accounts are similar to a mutual fund, that means you could actually lose some of the cash-value of the plan as well.

Northwestern Mutual

Northwestern is one of the most popular financial institutions on the marketplace. They have been around for quite a while, and they are also very financially stable. With the A.M. Best, they hold an A++, which is “superior.” That excellent rating reflects the fact that you won’t have to worry about the company going bankrupt.

For a large company, they have very few complaints. They continue to have excellent customer service and customer relations. If you’re looking for a stable company with responsible and kind representatives, Northwestern is a very good choice.


Prudential offers three different variable life insurance policies that you can choose from. All of them are slightly different and will have various pros and cons. If you purchase a variable life insurance plan through Prudential, your premiums will be invested in 50 investments options. They also have several excellent riders that you can add to your coverage to personalize your life insurance plan.


MassMutual is one of the oldest companies on our list. They were originally founded in 1851, which means they have had over 150 years of working with insurance clients across the nation. There is a reason that they have been around for so long. They offer competitive rates on all of their life insurance products.

One of the advantages of the variable life insurance plan with MassMutual is that they allow you to choose your investments inside of the plan. That’s a unique benefit that a lot of insurance companies don’t have.


Transamerica has been known for their no exam life insurance coverage for a long time, but that’s not the only life insurance that they offer. They also have great rates for their variable life insurance coverage. Not only do they have good rates, but they also hold an A+ Rating with A.M. Best, and when you’re shopping around for variable life insurance, the financial rating is critical.

Additionally, they also have great underwriting, which means that if you aren’t in perfect health, you can still get better rates for your life insurance coverage.

Voya Financial

While Voya is not the largest company on our list, they have recently started making a name for themselves. They have put a lot of money towards advertising their life insurance options. Previously, they were known as ING, before they switched in 2014.

They have a wide variety of permanent universal life insurance plans that you can choose from. Because they have more options, it’s more than likely that you will find a plan that fits your needs. Much like the other companies on our list, they have an excellent rating from all third-party rating companies.

Variable Life Insurance or Other Options

When you’re shopping for variable life insurance coverage, it’s important to note that it’s not going to be the cheapest option for life insurance protection. If you want to get the most affordable insurance policy, you should choose a standard term life insurance policy. They are a temporary form of life insurance protection, but they are going to be around three times cheaper than a permanent form of coverage.

Regardless of which type of life insurance that, you buy, it’s important that you don’t want any longer to get the coverage that you need. If you have any questions about variable life insurance or about any of the companies on our list, please contact one of our agents today. We would be happy to answer those questions and connect you with the best plan available.

We are a group of independent insurance agents, which means that we work with dozens and dozens of highly rated companies across the nation. You never know what’s going to happen tomorrow, which means that you shouldn’t wait any longer to get the insurance protection that your family deserves. If you were to pass away, and you didn’t have coverage, your family would be responsible for all of your debts and other final expenses. Losing someone that you care about is never going to be easy, but being left with a massive amount of debt is going to make the situation that much worse.


Susan Wright holds a BA from Michigan State University and an MBA from St. Louis University. Having over 20 years of working experience in the insurance and financial services industry, she has trained more than 10,000 financial services representatives. Susan has had licenses in real estate, insurance, and NASD Securities, and she has earned nine industry professional designations, including CLU, ChFC, RHU, REBC, CSA, CLTC, CCFC, CSS, and ADPA. Read more about her on Google+

This entry was posted in Life Insurance. Bookmark the permalink.