Based on our research, Central Insurance Quote stands out as the top life insurance company in Arizona, particularly excelling as the number one provider for term and no-exam policies. For whole and universal life insurance policies, Insurance Arizona and Insurance Phoenix share the top position.
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AM Best Rating
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Term Life
Whole Life
universal
Explore quotes today and unlock the best deals on your life insurance.
In our 2024 rankings of the best life insurance companies in Arizona, Central Insurance Quote and Insurance Arizona are ranked No. 1 and No. 2, respectively. Both are online providers specializing exclusively in term life policies. Central Insurance Quote offers policies issued either directly by Central Insurance Quote or by the North American Life and Health Insurance Company, depending on the location of the insured. Haven Life, another provider, offers policies issued by either MassMutual or its subsidiary, C.M. Life.
Other life insurance providers we examined in Arizona offer a broader range of products. For example, MassMutual, which is tied with Insurance New Jersey at No. 5 in Arizona, provides two term life policies, ten whole life insurance products, and three universal life policies. Insurance New Jersey offers a single term policy, three whole life policies, and eight universal life insurance options.
Below, you can get personalized life insurance quotes for your specific location in Arizona.
AM Best Rating
A++
Term Life
Whole Life
universal
AM Best Rating
A++
Term Life
Whole Life
universal
AM Best Rating
A+
Term Life
Whole Life
universal
AM Best Rating
A+
Term Life
Whole Life
universal
AM Best Rating
A+
Term Life
Whole Life
universal
Central Insurance Quote ranks as the top term life insurance company in Arizona. Following closely at No. 2 is Insurance Arizona Life, with Insurance New jersey and Insurance Phoenix tied for the No. 3 spot. Term life policies provide a death benefit to beneficiaries if the insured passes away during the coverage period, typically ranging from five to 30 years, although some policies are available for shorter durations. Initially, term policies are generally more affordable than other types of insurance because none of the premiums contribute to a cash value, making them less expensive than permanent policies. Additionally, some term policies offer the option to convert to a permanent policy, such as a whole or universal life policy.
AM Best Rating
A++
Term Life
Whole Life
universal
AM Best Rating
A++
Term Life
Whole Life
universal
AM Best Rating
A+
Term Life
Whole Life
universal
AM Best Rating
A+
Term Life
Whole Life
universal
AM Best Rating
A+
Term Life
Whole Life
universal
Our ranking of the top whole life insurance providers in Arizona is tied between Central Insurance and Insurance Arizona. At No. 3, Insurance Phoenix is tied.
Whole life insurance plans offer lifetime coverage, provided premiums are paid, in contrast to term life insurance policies, which only offer coverage for the duration of the specified term. Additionally, whole life insurance feature an additional cash value component that accrues interest at a fixed rate, in contrast to term policies. The policyholder is free to take out or borrow against the cash value for any purpose, such as covering an unexpected expenditure or augmenting retirement income.
Because part of the premiums for a whole life policy goes towards the cash value whole life policies are often more expensive than term policies. Whole life policies may also provide a dividend, which is a return on premium payments that the insurance provider then invested.
Below, you can get personalized life insurance quotes for your specific location in Arizona.
AM Best Rating
A++
Term Life
Whole Life
universal
The top provider of universal life insurance in Arizona is Central Insurance Quote.
Universal life insurance products contain a cash value component and offer lifetime coverage, much as whole life insurance policies. Because the death benefit and premiums can be altered after the policy enters into force, universal life insurance products sometimes provide greater flexibility than whole life insurance.
Universal life insurance plans often come in three different varieties. The funds for the cash value of a variable universal insurance are placed in subaccounts, which have access to a variety of investment options, including bonds and equities. The cash value component of an indexed universal policy increases in accordance with a predetermined stock index.
AM Best Rating
A+
Term Life
Whole Life
universal
AM Best Rating
A++
Term Life
Whole Life
universal
AM Best Rating
A++
Term Life
Whole Life
universal
Central Insurance Quote is ranked as the No. 1 no medical exam life insurance company in Arizona, with Insurance Arizona at No. 2 and Insurance Phoenix tied for the No. 3 position.
Typically, applying for life insurance involves a medical exam, which can include tests like a blood sample or an electrocardiogram. However, no-exam life insurance policies do not require such exams, which makes them accessible without medical testing but often limits their coverage.
There are generally three types of no-exam life insurance policies. An accelerated-issue no-exam policy determines eligibility based on information provided by the applicant and third-party data, such as motor vehicle records. The rates for these policies are comparable to those that require full underwriting. Simplified-issue policies also forgo the medical exam, but applicants must provide medical records (including details on medications) and complete a health questionnaire. Guaranteed-issue life insurance policies ensure coverage regardless of the applicant's health status but are typically more expensive and offer more limited coverage.
For more information on the different types of no-exam policies, check out our "What Is No-Exam Life Insurance?" guide. For a detailed look at other top-rated no-exam insurance companies, refer to our full "Best No Exam Life Insurance Companies" rating.
When choosing the best life insurance for your needs, it's essential to consider factors such as your age, health, financial goals, and the needs of your beneficiaries. This evaluation can help you determine the most suitable type of policy and coverage amount.
After narrowing down your list of potential insurers, examine their financial stability and customer service ratings. Insurers with strong ratings from agencies like A.M. Best are generally more reliable in paying out claims. Customer service is also crucial; seek out companies with positive reviews for customer support and claims processing.
While premium rates are an important factor, it's essential not to base your decision solely on price. Consider the benefits and perks offered by different policies. Many insurers provide online tools to compare policies and premiums, and you can also consult an agent or independent broker for guidance.
Lastly, evaluate any additional benefits or riders that may be important to you, such as accelerated death benefits or conversion options.
Arizona's life insurance regulations are broadly similar to those in many other states, with one notable exception: the state does not require a free-look period. This means that unlike in states where policyholders have a mandatory period to review and cancel their policy without penalty, Arizona does not have such a requirement.
Find answers to common questions about life insurance in Arizona below.