Best Universal Life Insurance Companies Of 2024

Best Universal Life Insurance Companies – Universal life insurance is renowned for its adaptability, allowing policyholders to tailor their premiums and death benefits in alignment with their changing life situations. Choosing the appropriate universal life insurance provider cannot be overstated. The decision involves more than just selecting a company that provides a policy meeting your financial objectives and lifestyle requirements.

It also entails opting for a provider known for its financial robustness, attractive rates, and superior customer support. Amidst a plethora of companies vying for the spotlight, each asserting their supremacy, sifting through the myriad options may appear challenging. In this blog post, we will be exploring the best universal life insurance companies and showing why and how they earned their spot. So, keep reading.

What is Universal Life Insurance?

Universal life insurance is a type of permanent life insurance offering flexible premiums, adjustable death benefits, and a savings component that grows over time. This flexibility allows policyholders to adjust their coverage as their financial needs and circumstances change throughout their lives.

There are three major types of universal life insurance. They are:

  • Indexed universal life insurance.
  • Guaranteed universal life insurance.
  • Variable universal life insurance.

However, the major difference between these types of universal life policies is how the cash value increases.

Best Universal Life Insurance Companies

As you explore the landscape of universal life insurance, several companies stand out for their exceptional offerings, financial strength, and customer service. Here is a brief note on some of the best universal life insurance companies to consider:

  • Protective.
  • Prudential.
  • Lincoln Financial.
  • Penn Mutual.
  • Guardian.
  • Mutual of Omaha.
  • Pacific Life.
  • Mass Mutual.
  • Corebridge Financial.


Protective offers competitive pricing and options that cater to a spectrum of needs, from basic coverage to more complex financial planning tools. Their focus on customer value and transparency stands them apart.


Prudential’s global presence and extensive experience contribute to its reputation as a leading provider of universal life insurance. Their policies are designed for flexibility and tailored to meet the needs of a diverse clientele.

Lincoln Financial

Lincoln Financial is popular for its strong suite of life insurance products, including universal life options that offer both flexibility and financial growth potential. Their policies meet your changing needs.

Penn Mutual

With a storied history and a solid reputation for financial strength, Penn Mutual is a top choice for universal life insurance. Their policies are known for flexibility and reliability, catering to a wide range of financial planning strategies.


Known for its mutual company structure, Guardian prioritizes the interests of its policyholders. Their universal life insurance products are comprehensive, with a focus on long-term value and financial security.

Mutual of Omaha

One of the best universal life insurance companies is Mutual of Omaha. With a solid reputation and a wide range of flexible products, Mutual of Omaha caters to diverse needs with its universal life insurance policies. Their customer-centric approach and financial stability make them a reliable choice.

Pacific Life

Another popular universal life insurance company is Pacific Life. Apart from this, Pacific Life shines with its diverse range of universal life insurance products, designed to meet various needs and preferences. Their commitment to policyholder value and investment options makes them a preferred provider.

Mass Mutual

As a mutual company, Mass Mutual stands out for its policyholder-first approach, offering robust universal life insurance options that combine flexibility with financial strength. Their focus on dividends and policyholder benefits is noteworthy.

Corebridge Financial

Emerging as a strong contender, Corebridge Financial (formerly part of AIG) offers innovative universal life insurance solutions. Their products are designed with the modern policyholder in mind, offering flexibility and robust investment options.

How To Choose a Good Policy

Choosing the right universal life insurance company involves evaluating your personal needs and risk tolerance, understanding the suitability of various universal life insurance options for you, and opting for a provider that offers strong financial reliability and competitive premiums.

  • Calculate the necessary coverage amount for universal life insurance. Utilize an online life insurance calculator for a fast and simple approximation.
  • Identify the specific universal life insurance plan that fits your requirements best. Consult with a reliable insurance agent or financial advisor to help pinpoint the appropriate policy type.
  • Investigate the financial health ratings from agencies like AM Best for potential insurance companies.
  • Solicit and compare quotes from a selection of top universal life insurance providers.

With help from the above tips, you will have no problem when shopping for a good universal insurance policy for your needs.

Final Thoughts

Each of these companies brings something unique to the table, making them top contenders in the universal life insurance market. When selecting a provider, consider your individual needs, financial goals, and the specific features and benefits offered by each company.