Life insurance is a legal contract where the insurer has to pay a sum of money (the benefit) to the insurance policy holder on the death of the insured person in exchange for regular premiums. Human life is prone to several risks, and the risk not only hurts the victim but also makes him suffer financially. Hence, life insurance is one of the best ways to prepare oneself for the unforeseen situations that may harm us. The list of own personal agendas should be fulfilled by the policy bought. Hence, intensive research and comparison before making the actual decision are vital. Listed below are the top 10 best life insurance companies in the world in 2018.

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10. Japan Post Holdings

Best Life Insurance Companies

It is a Japanese state-owned conglomerate with major indulgence in postal and logistics business, banking business, and life insurance business. One of its main subsidiaries is Japan Post Insurance which was initially established on September 1, 2006, and changed its name in October 2007. It controls the life insurance sector of JPH. In 2011, it was the world’s fourth largest insurance company.

9. Prudential plc

Best Life Insurance Companies

Prudential plc is a British multinational life insurance and financial services company. Founded in 1848, the company is headquartered in London, UK. Prudential has 24 million customers worldwide, employing around 22,308. This company has a primary listing on the London Stock Exchange and secondary listings on the New York Stock Exchange, Singapore Exchange, and Hong Kong Stock Exchange.

8. China Life Insurance

Best Life Insurance Companies

It is a China-based and incorporated insurance company which also provides annuity products. Founded in 1949, China Life is headquartered in Beijing, China. The company is ranked No. 94 on Fortune 2015 Global 500 Company list. China Life is 70% state-owned and the largest insurer in China. The main products of this company are health and life insurance, pension plans, asset management, property and casualty, investment holdings and overseas services.

7. Assicurazioni Generali Group

Best Life Insurance Companies

Assicurazioni Generali Group is an Italian financial services company. Being one of the well-established companies in Italy, the financial services company stands third in the world. Its main products are insurance, banking, investment management. The company is operating in 60 countries including Italy, Europe, Asia, Middle East and America. Generali Group was established in 1831 and employs approximately 76000 people. With a major focus on life insurance, the company offers other products like the family cover, savings, and unit-linked policies.

6. AXA

Best Life Insurance Companies

Having a strong customer base of about 102 million people in over 56 countries, AXA is a French multinational and leading insurance firm, holding its headquarters in the 8th arrondissement of Paris. AXA indulges in global insurance, investment management, etc. Claude Bebear founded AXA in 1817. The company now employs around 1,66,000 people all over the world. The AXA Group primarily operates in Western Europe, North America, the Asia Pacific region and the Middle East and also Africa. The company is a component of the Euro Stoxx 50 stock market index.

5. Zurich Insurance Group

Best Life Insurance Companies

Zurich, the Swiss firm was established in 1872 and employs over 53000 people, catering to small, medium, large companies, multinational corporations, and individuals. The company presently operates in over 170 countries. The core business segments of Zurich include general insurance, global life (offers life insurance, savings, etc.) and farmers (provides non-claims related management services to the Farmers Exchange, etc.). In the 2017 Forbes’ Global 2000s list, Zurich Insurance Group is ranked the world’s 91st largest public company. Zurich is Switzerland’s largest insurer.

4. UnitedHealth Group

Best Life Insurance Companies

UnitedHealth Group is an American managed health care company which has two main subsidiaries UnitedHealthcare and Optum. Founded in 1977, by Richard T. Burke, the company is based in Minnesota, U.S. The company is one of the chief life insurance providers in the healthcare sector. The company was featured in the “world’s most admired companies” on the Fortune list for six years consecutively in the insurance healthcare sector. UnitedHealthcare provides specialty benefits on life insurance such as flexible funding options, waiver of premium, life conversion, etc.

3. Allianz SE

Best Life Insurance Companies

Allianz SE is a German company in the industry of financial services and is headquartered in Munich. In 2014, it was the world’s largest insurance company according to Forbes magazine. It was founded in 1890 and has a huge number of subsidiaries employing around 1,43,000 people in 2015. Its main products are insurance and asset management. The company offers insurance product in casualty and property, life insurance for both individuals and corporate customers.

2. MetLife

Best Life Insurance Companies

MetLife, Inc. is the holding corporation of Metropolitan Life Insurance Company and its affiliates, founded on March 24, 1868. It is headquartered in New York, U.S. The company is among the largest providers of insurance, and employee benefit programs with over 90 million customers in over 60 countries. MetLife’s life insurance products and services have a wide range. The services vary in regards to duration, coverage, etc. The company also provides group life insurance, provided through employers, etc. MetLife has one of the leading market positions in Mexico, Japan, and South Korea.

1. American International Group (AIG)

Best Life Insurance Companies

American International Group, widely known as AIG, is a multinational insurance corporation based in America. Founded in 1919, the company along with its many subsidiaries now operates in over 80 countries, employing more than 56000 people. AIG offers casualty insurance, life insurance, retirement products, mortgage insurance and other financial benefit plans and services. AIG serves about 87% of the Fortune Global 500 and 83% of the Forbes 2000. AIG was ranked 49th on the 2016 Forbes 500 list.

The primary importance and benefit of a life insurance policy are that it provides a life cover. The life insurance is also a very good way to save and build wealth and funds for the future systematically. Buying a smart life insurance in today’s world is one of the most important financial decisions, and one must carefully choose a life insurance company as per his personalised requirements.

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