What is J.D. Power?

J.D. Power is a decades-old marketing research company best known for its customer satisfaction research, ratings, and awards. J.D. Power rankings help consumers differentiate between high-quality companies and products.

Policygenius uses several ratings systems, including J.D. Power’s life insurance ratings, to evaluate the overall quality of life insurance companies. 

J.D. Power and Associates conducts an annual survey to measure customer satisfaction with life insurance companies, assigning each insurer a numerical score. Choosing a life insurance company that offers superior customer satisfaction can ensure that managing your policy while you’re alive is hassle-free, and the process for your loved ones to claim the money after you’re gone is quick and painless.

Life insurance terms you should know

• Beneficiaries: The people you name on your life insurance policy to receive the lump sum of money — also known as the death benefit — when you die.

• Cash value: The portion of a permanent life insurance policy’s monetary value that grows tax-deferred over the life of the policy.

• Death benefit: The amount of money the life insurance company will pay your beneficiaries when you die.

• Face amount: The dollar amount, or death benefit, your beneficiaries receive if you die while your life insurance policy is active.

• Insured: The person who is covered by the insurance policy.

• Policy: The legal document that includes the terms and conditions of your life insurance contract.

• Policyholder: The person who owns an insurance policy. Usually, this is the same person as the insured.

• Permanent life insurance: A type of life insurance that lasts for the rest of your life and usually includes a cash value account.

• Premium: The amount you pay your insurance company to keep your coverage active. Premiums are typically paid monthly or annually.

• Riders: Add-ons to a life insurance policy that provide more robust coverage, sometimes for an extra cost.

• Term life insurance: A life insurance policy that lasts for a set number of years before it expires. If you die before the term is up, your beneficiaries receive a death benefit.

• Underwriting: The process where an insurance company evaluates the risk of insuring you and determines your final rate.

Why do J.D. Power ratings matter for life insurance shoppers?

When you purchase a life insurance policy, it’s important that you’re confident in the company’s reputation and ability to provide good service — features measured by the J.D. Power rating. A company’s ability to pay the death benefit if necessary and provide a high level of customer service is a vital part of this determination.

J.D. Power factors customer satisfaction and price into a company’s overall rating, but also includes less tangible parts of the customer experience, like communication and interactions between a company and its customers.

A high J.D. Power rating indicates a straightforward experience for you and your loved ones when it comes to setting up, managing, and using a life insurance policy. 

The life insurance survey J.D. Power uses also collects feedback from customers who own employer-sponsored group life insurance, annuity products, and private life insurance to provide a comprehensive rating of each insurer.

How does J.D. Power determine its life insurance ratings?

J.D. Power determines its life insurance ratings by evaluating thousands of customer reviews and assigning a score to each company based on those evaluations. 

For its 2023 U.S. Life Insurance Survey, J.D. Power surveyed a total of 3,579 customers between May and July 2023. Based on the survey results, J.D. Power assigns every life insurance company a score out of 1,000.

J.D. Power researchers assess businesses based on reported customer satisfaction in six categories:

1. Application and orientation: The process of applying and learning about your policy

2. Communications: The quality of ongoing communication received from a company

3. Interaction: The quality of your interactions with your provider

4. Price: Satisfaction with the cost of products offered by your provider

5. Product offerings: Quality and variety of insurance products offered by your insurer

6. Statements: Quality and accuracy of statements made by the provider

J.D. Power ratings are based on a limited number of customer surveys and are just one source of customer satisfaction data. We recommend you still do your own research and consider satisfaction ratings from places like the Better Business Bureau when comparing life insurance companies as you’re choosing which insurer will be best for you.

J.D. Power ranking of life insurance companies for 2023

The table below reflects overall customer satisfaction ratings out of 1,000 points for customers surveyed by J.D. Power with individual life insurance policies in 2023.

Insurer	J.D. Power rating
State Farm	843
Nationwide	840
MassMutual	809
Mutual of Omaha	805
MetLife	802
Pacific Life	799
Globe Life	798
New York Life	794
Securian	793
Northwestern Mutual	790
Lincoln Financial	788
Guardian Life	784
Midland National Life	784
Primerica	784
John Hancock	782
Prudential	779
Principal Financial	778
Protective Life	768
Corebridge Financial (formerly AIG Life & Retirement)	762
Transamerica	757
Equitable	740
Brighthouse Financial	739

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