The Top 10 Best Life Insurance Companies in the United States

Determining who offers the best life insurance is not always a black and white answer.

While you can get quotes from all of the top rated life insurance companies you may never know if you are getting the best company for your specific situation.

At Good Financial Cents we pride ourselves in connecting people with the insurance company that best meets their specific needs.

The purchase of life insurance can be one of the biggest decisions you ever make. Having this important coverage, and getting the right type of life insurance, can ensure that those you love and care about the most will be able to move forward financially – even in the event of unexpected and emotional circumstances.

Not having to drastically change their lifestyle or go into deep financial debt is one of the best gifts you can give your family in the event of your death.

As a result, choosing the right amount of coverage and the best life insurance company for your needs is essential.

With so much on the line, you don’t want to buy an insufficient amount of coverage, or purchase a type of coverage that isn’t ideal for your family.

Deciding on the Best Life Insurance Company for Your Coverage

Today, there are literally hundreds of insurance companies to choose from – and each may have its own unique blend of products and services. So, how can you best narrow down which of these are the very best companies for your specific coverage needs and goals?

Without being directly involved in the insurance industry on a regular basis, it can be difficult to determine which insurers are sound, and which should be avoided. The good news is that we work with numerous insurers, and we’ve done a great deal of the research for you – so you don’t have to. This can save you a considerable amount of time in deciphering which insurers to lean towards.

Good Financial Cents Top 10 Life Insurance Companies

Given the numerous facts and figures, there are many good companies active in the market. However, from our experience there are ten that seem to stand out the most in terms of product offerings, customer service, and overall financial strength and stability.

The best life insurance companies usually offer a wide array of products to choose from and exceptional customer service, and have flawless reputations built on years of experience and positive results.

Although the best company and policy will vary from person to person, we have poured through some of the details for you to come up with a list of our top picks. These companies, while diverse in their offerings and history, offer some of the most affordable, helpful and best life insurance products on the market. Among all the competition, here are the companies that stand out:

Click on the company links to go to a corresponding short review

• Haven Life
• Banner Life
• AIG
• Prudential
• MetLife
• Voya Financial
• Mutual of Omaha
• Genworth Financial
• New York Life Insurance Company
• Transamerica

Best Life Insurance Companies to Consider in 2017

Without being directly involved in the insurance industry on a regular basis, it can be difficult to determine which insurers are sound, and which should be avoided. The good news is that we work with numerous insurers, and we’ve done a great deal of the research for you – so you don’t have to. This can save you a considerable amount of time in deciphering which insurers to lean towards.

Want to know more about each of the companies we work closely with? Here is a rundown of some of the important details about all of our top picks:

Haven Life

Haven Life has upended the traditional process of acquiring term life insurance by getting rid of the medical examination for people who qualify.  You can get approved for coverage in as little as 20 minutes and completely online.  The coverage starts immediately and people up to age 65 can qualify for a policy.  Even with the quick turnaround the rates are very competitive with other carriers.

Haven Life is solely focused on term life insurance products and does not offer any permanent life insurance coverage. They are a subsidiary of Mass Mutual and have received the highest financial ratings offered by A.M. Best and other insurance company ratings agencies.

If you are looking to get term life insurance with the least hassle and faster than any other company can offer, then Haven Life is going to be your top company.

Banner

One of the top insurers includes Banner Life Insurance. This company is a leader in the area of both products offered, as well as its stellar customer service. The company has been operating since 1949, and it currently holds approximately $415 billion in premiums in force.

Although Banner Life offers predominantly term and universal life products, the unique features that are inclusive within these offerings make this a company to pay attention to. For example, with Banner Life Insurance Company’s term policy, individuals can apply up to age 95. This is a far cry from most other insurers that make the cut off age 65 or 75.

Banner Life possesses high ratings from the various agencies, including an A+ from A.M. Best, an AA- from Standard & Poor’s, and an A from Fitch Ratings. The company also has an A+ rating from the Better Business Bureau. Get more information on the history and offerings with our review of Banner Life Insurance Company.

AIG

Strengths

AIG is great at rating people who are borderline for pushing into a different rate class, due to their weight.

Here is a real life example of a 37 year old male who weight 215 lbs and is six feet tall. With Banner he was rated as a preferred policy, but AIG rated him as preferred plus saving him $3,312 over the life of the policy he chose.

$1,000,000 Policy	20 Year Term	30 Year Term
Banner	$64.22/month	$107.97/month
AIG	$47.92/month	$87.71/month
Annual Savings	$195.60	$243.12
Total Policy Savings	$3,312.00	$7,293.60

AIG, or American International Group, is generally considered the world’s largest insurance organization. The company has more than 90 million clients in more than 100 countries, many of whom hold life insurance policies with the oganization. The firm has been in operation for more than 95 years, beginning its operation in 1919.

This insurer offers a wide variety of insurance products to choose from, including term, whole, universal, index universal, and variable universal life insurance. AIG’s term policies typically range in length from 10 to 30 years, and frequently increase in 5-year increments.

AIG is very strong when it comes to financial stability and claims paying reputation, having been granted high marks from the ratings agencies. AIG Life and Retirement, the division responsible for the company’s life insurance policies, has obtained an A+ from Standard & Poor’s, an A2 from Moody’s, an A+ from Fitch, and an A from A.M. Best. Get a better understanding with our review of AIG and their history.

Prudential

Strengths

Prudential is the top company for people who use chewing tobacco. This is because they do not rate chewing tobacco users for smokers rates.

Here is a real life example of a 37 year old male who is six feet tall. He saved a HUGE amount of money by being placed with the best life insurance company for his needs.

$1,000,000 Policy	20 Year Term	30 Year Term
AIG	$214.00/month	$366.24/month
Prudential	$103.05/month	$147.15/month
Annual Savings	$1,331.40	$2,629.08
Total Policy Savings	$26,628.00	$78,872.40

Another of the long-standing top life insurance companies is Prudential. This large insurer and financial company has been in operation for almost 140 years, and has helped both individual and business clients to grow and prosper financially. The firm has customers worldwide. At present, Prudential has approximately $1.160 trillion in assets under management.

The company offers a number of different policy options to choose from, including both term and permanent coverage. Permanent coverage from Prudential includes universal, indexed universal, variable universal, and survivorship universal life insurance.

Prudential possesses very high ratings from the life insurer ratings agencies, obtaining an A+ from A.M. Best, an AA- from Standard & Poor’s, an A1 from Moody’s, and an A+ rating from Fitch Ratings. Get a better understanding the company and their products with our Prudential review.

Met Life

MetLife is considered to be one of the leading global providers of life insurance and annuities. The company holds a leading market position in both the United States, as well as across the globe. This firm also has a long history, beginning its operations more than 140 years ago.

The company provides a number of different policy options, including term, whole life, universal, variable, and survivorship plans. MetLife also offers a simplified issue term life insurance option whereby there is no medical exam required for underwriting. This can be a good option for those who have health related issues, or who fear needles and wish not to undergo a blood test for underwriting purposes. MetLife has very positive ratings from the ratings agencies, including an A+ from A.M. Best, an AA- from Fitch, an Aa3 from Moody’s Investors Service, and a AA- from Standard & Poor’s. Learn more about Met Life and their services in our MetLife Review.

Voya Financial

Formerly known as ING, Voya Financial is a very strong insurance and financial contender in today’s industry. The company is made up of premier insurance, investment, and retirement companies, and it serves roughly 13 million individual and business customers in the United States. Voya provides a wide array of coverage, including term life, universal life, indexed universal life, variable universal life, and survivorship policies.

The company currently has approximately $519 billion in total assets under management, and it is considered to be one of the top five retirement plan providers based on the number of plans, participants, and assets. Voya is also considered to be a top tier provider, according to LIMRA’s second quarter 2014 Final Premium Reporting.

Voya Insurance and Annuity Company has received very high marks from the insurance company ratings agencies. These consist of an A from A.M. Best, an A- from Fitch, an A3 from Moody’s, and an A- from Standard & Poor’s. Learn more about their history and financial stability in our Voya review.

Mutual of Omaha

Mutual of Omaha has been serving customers in the life insurance arena for more than a century. Not to be outdone by the others on this list, it too provides a wide variety of products to choose from, including term, whole life, universal life, and accidental death.

The company provides easy to follow steps on its website to help consumers determine how much coverage they may need, as well as how long they may expect to live. There are also calculators to help in determining how long life insurance proceeds may last. Mutual has earned it best life insurance company status from the ratings agencies due to its financial strength and claims paying history. Learn more about the company in our review of Mutual of Omaha.

Genworth Financial

Genworth is yet another of the financial giants that can be relied upon for coverage if or when it may be needed. The company has been in operation since 1871, and at present it possesses more than $100 billion in assets. Genworth has a presence in more than 25 countries worldwide.

The firm’s life insurance product selection includes term life, whole, guarantee universal, and index universal life plans. Term policies can range between 10 and 30 years in length. Due to its past stellar claims paying ability and tremendous financial strength, Genworth has earned top ratings from the ratings agencies, including an A from A.M. Best. However, in more recent times, Genworth has had some policy rate increases, and is currently under review by some of the ratings agencies. Learn more in our review of Genworth Financial.

New York Life Insurance Company

New York Life Insurance company began its operation almost 170 years ago. Since that time, the insurer has built up its assets under management to more than $425 billion. It serves policy holders in both the United States and around the world. The policies that are offered by New York Life includes term, whole life, universal life and variable life.

New York Life Insurance is extremely strong financially, obtaining an A++ from A.M. Best, an AA+ from Standard & Poor’s, a AAA from Fitch, and a Aaa from Moody’s Investor Services. Get a more detailed review of New York Life Insurance Company.

Transamerica

Strengths

Transamerica will issues 30 year term polices up to age 58. Most companies will not issue a 30 year term policy on an person seeking life insurance who is over 50.

Transamerica began its operation more than 111 years ago, and today it has grown substantially into a financial and insurance powerhouse. It’s life insurance company boasts an A+ rating from A.M. Best, an A1 from Moody’s, an AA- from Fitch, and a AA- from Standard & Poor’s. Get free quotes by using the form on this page or learn more with our Transamerica review.

Lincoln Financial Group

Lincoln Financial Group has a more than 100 year history of serving its customers. The firm provides numerous coverage options, including term, universal, and variable universal life insurance coverage. The company also has a combination life / long-term care option whereby a policy holder can use a universal policy as an alternative to purchasing a stand-alone long-term care insurance policy.

The Lincoln Life and Annuity Company possesses very high ratings from the insurance company rating agencies. These include an A+ from A.M. Best, a AA- from Standard & Poor’s, an A1 from Moody’s, and an A+ from Fitch. See our detailed review of Lincoln Financial Group.

Best Life Insurance Companies Honorable Mentions

The companies here didn’t make our list of top 10 for various reasons, but they do deserve to be mentioned because they represent some of the strongest names in the industry.  The truth is that, for any individual, any of the insurance companies that have good financial ratings and customer service could offer the best life insurance policy for that individual.  Each link will take you to a review of the individual company.

• 5 Star Life Insurance – Part of the Armed Forces Benefit Association, which has been around since 1947.
• AAA – Over 100 years of business experience and a long history of good customer service.
• AARP – Works with New York Life to provide coverage to seniors.
• Accordia Life Insurance Company – Very young but great financial backing
• Aetna Life Insurance – Aetna has a ton of different types of insurance and life insurance is a major part of their company.
• Aflac – most famous for their duck mascot, Aflac is a highly respected carrier with great ratings from the BBB.
• Allstate – The good hands people are one of the most well known and trusted insurers in the country.
• American General – Part of the AIG group and one of the largest insurers in the USA.
• American Income – Over 50 years of experience and a great financial record.
• American National – Top provider of no medical exam policies.
• Americo – Well known for burial and final expense policies, but also have competitive rates on other life insurance products.
• AXA Equitable Life Insurance Company – Very competitive at underwriting in specific age brackets and great with a few health conditions.
• Columbus Life – One of the first insurance companies to have a website and very competitive on technology.
• Foresters Financial – A non-profit with more than 135 years in the life insurance market.
• Forethought – Only 30 years old, but moving up in the ranks of reliable life insurance companies
• Gerber Life Insurance Company – Great at offering affordable guaranteed issue policies
• Globe Life Insurance – Offers the best small simplified issue policies.
• Guardian – A Fortune 250 Global Financial Services Company.  They offer a ton of different financial services along with life insurance.
• John Hancock Life Insurance Company – One of the better known and more solid companies in the United States.
• Minnesota Life – Awesome at rating people who have recently stopped smoking.
• National Western Life Insurance Company – Over 60 years of experience and top financial ratings.
• North American Life Insurance – Privately owned and expertly managed when it comes to its investments.
• NorthWestern Mutual – One of the largest life insurance companies in the world.
• Principal Financial Group Life Insurance Company – One of the few that will offer a no exam policy up to $1 million.
• Protective Life Insurance Company – Great for term life insurance policies.
• Sagicor Life Insurance Company – Offers great no exam term policies and guaranteed issue universal life.
• SBLI – Great for annual premium prices and variety of lengths of term life insurance.
• State Farm – If you already have homeowners/renters and auto insurance with them they offer great bundling of policies.
• Symetra Life Insurance – Get’s top ratings from all the bureaus and has a clean record from the BBB.
• USAA – USAA is the top company for those with military service or a family member who has served in the military.
• United Home Life Insurance Company – along with it’s parent company United Farm Family life, this company has a strong financial reputation.
• Vantis Life Insurance Company – Been around over 80 years and very reliable at paying out
• Veterans Group Life Insurance – If you have an existing condition then you will do very well with this company.

How to Determine a Company’s Strength

In order to determine how strong an insurer is financially, you’ll want to do some basic research and view each provider’s insurance “report card.” If you’re wondering what an insurance report card is, it is jargon used to describe the ratings that are assigned to an insurer by the insurance ratings agencies. While there are five major insurance ratings agencies, each insurer must be rated by at least one of these entities.

As you conduct your research, you should know that the ratings agencies to check with include A.M. Best, Standard & Poor’s, Moody’s, Fitch Ratings, and TheStreet.com. While each of these agencies ranks insurers using their own set of criteria, they all use a letter grading system that is similar to a report card grading system.

Rankings are based upon an insurance company’s overall financial strength, as well as its history of claims paying ability to its policy holders. In many ways, this data can be indicative of an insurer’s future ability to pay claims going forward. In most cases, it is best for consumers who are considering the purchase of an insurance policy to stick with insurance companies that are rated with a grade of A or better.

After all, you want to purchase the best life insurance you can find with a company that will be solvent ten, twenty, or even thirty years from now. The best way to identify companies with a solid future is to investigate their past and compare their ratings to other companies that offer similar products.

Best Life Insurance Companies by Category

One of the most important factors in finding the best life insurance policy for your needs is getting matched up with a company that will treat your specific case the most favorably. Beside working with an independent agent, here are the companies that tend to treat a specific category more favorably.

Best Life Insurance Companies for Smokers

Banner Life AND Prudential (Pruco) – Banner Life tops our list of the best life insurance companies for smokers. But not far behind Banner is Prudential.

Banner Life is an excellent company to purchase term life insurance through in general. They are usually among the least expensive on premiums, and often THE least expensive. And writing policies for smokers seems to be their niche.

Banner has been around since 1949, and is a part of Legal & General Group Plc, a UK-based financial services company. Banner is also the parent company of its often better-known subsidiary, William Penn Life Insurance of New York. The company has more than $5.7 billion in assets and over $587 billion of life insurance in force.

Banner offers you both preferred tobacco and standard tobacco ratings on their policies. So while you will pay a higher life insurance premium as a smoker than a non-smoker will, you’ll still pay less for a policy with Banner than just about any other top 10 life insurance companies.

Company Ratings:

A.M. Best: A+ (Superior)

Moody’s: N/A

Fitch: N/A

Standard & Poor’s: AA- (Very Strong)

Best Life Insurance for Diabetics

American General – Part of the AIG family, American General gets our vote at the top of the list of diabetic friendly carriers. But also on the list is Banner Life.

American General has been in business since 1850 and serves more than 12 million customers in the US, and more than 88 million worldwide. Based in Houston, the company also includes United States Life Insurance Company in New York City.

In general, American General is one of the very best insurance companies for high-risk applicants. But they are especially strong in underwriting policies for those who have type 2 diabetes.

The company offers term policies of the longer term nature, running as long as 30 years. They also offer an accelerated death benefit rider that enables you to receive at least some of your insurance proceeds while you are still alive, and if you are diagnosed with a terminal illness. This can help to provide you with important living benefits that will help you to pay at least some of your medical bills and other expenses.

Like many of the top life insurance companies that offer more liberal underwriting guidelines with certain high-risk applicants, American General is tougher if your profile involves other risks. This is particularly true with certain non-health related risks. According to Insurance4Diabetics.com, American General can be a difficult company to work with if you have a recent bankruptcy or DUI/DWI episode. They are also tough on anyone with a felony charge, particularly if the charge is related to either sexual assault or drugs.

Overall, however, American General offers competitive pricing, flexible underwriting, and a well-deserved reputation for excellent customer service.

Company Ratings:

A.M. Best: A (Excellent)

Moody’s: A2 (Good)

Fitch: A+ (Strong)

Standard & Poor’s: A+ (Strong)

Best Life Insurance Carrier for Cancer Survivors

Prudential (Pruco) – Prudential takes the top spot on our list for the best life carriers for cancer survivors.

Prudential is one of the best-known of all insurance companies, and that’s for good reason. The company works to be a top performer in different market niches, the kind that other insurance companies prefer to avoid. Prudential not only tends to be more liberal in underwriting policies for cancer survivors, but also for people with diabetes and DUI histories. This makes sense because there are tens of millions of people in the US who have one of those situations in their histories.

As you would expect, premiums will be higher for cancer survivors than they will be for people who have not experienced the disease, even with a policy issued by Prudential. The type of cancer, as well as how long it is been in remission are also factors. But if you are a cancer survivor, looking to get best life insurance premiums possible, Prudential is the place to start your search.

Company Ratings:

A.M. Best: A+ (Superior)

Moody’s: A1 (Good)

Fitch: A+ (Strong)

Standard & Poor’s: AA- (Very Strong)

Best Life Insurance Company for Five Year Term Policies

Minnesota Life – We consider this to be the top life insurance company when it comes to five-year term policies.

Minnesota Life is part of Securian, which was founded in 1880 and is one of the most highly rated insurance companies among the third-party rating services. Securian is the fourth largest direct writer of group life insurance, which may help to explain why the company is so price competitive when it comes to five-year term policies.

Including Minnesota Life, the company provides services for over 15 million people and have over $1 trillion of policies in force.

Minnesota life is one of the few companies that will even write a five-year term policy, or even offer a quote for a price. Consumers can save money with a five-year policy, compared to what they would have to pay out on a ten year policy when they only need five.

This can also be the perfect kind of temporary life insurance to cover a loan with a duration of five years or less, including and especially business loans.

Company Ratings:

A.M. Best: A+ (Superior)

Moody’s: Aa3 (Excellent)

Fitch: AA- (Very Strong)

Standard & Poor’s: A+ (Strong)

Best Life Insurance Company for Overweight/Obesity

Genworth – We consider this company to be the top source for policies on people who are overweight or obese – a.k.a., larger build. With 69% of the US adult population classified as overweight, including 35% as obese this is one of the most important specializations.

Genworth is a large, diversified financial services company that writes a lot of policies, but it isn’t exactly well-known among the general public. However, the company has been around since 1871 and now has more than $100 billion in assets and more than $700 billion or premiums in force.

Genworth tends to take a more liberal stance in regard to weight than most other companies do. This is important because weight, often measured by body mass index or BMI, is one of the most important underwriting criteria. Genworth has a history of assigning a “preferred plus” rating to people who are overweight, and “standard risk” to many people who are obese. This is not typical outcome throughout the industry.

A 55-year-old male – 6 feet tall can get a preferred rate weighing as much as 242 pounds. Once the man hits age 65, he can weigh as much as 258 pounds with the same rating. With most other insurance companies, the weight limits would be significantly lower than these in either case.

Company Ratings:

A.M. Best: A- (Excellent)

Moody’s: Baa1 (Adequate)

Fitch: N/A

Standard & Poor’s: BBB- (Good)

Best No Medical Exam Life Insurance Company

American National Insurance Company (ANICO) – ANICO gets our vote as the top company on the list of the best carriers for no medical exam policies.

Founded in 1905 and based in Galveston, Texas, ANICO provides services for more than 5 million policyholders in all 50 states, including the District of Columbia.

The company offers several of the best life insurance policies with no medical exam, including a term life policy and a whole life policy. This includes the Freedom Term Life Insurance plan, that offers policy amounts up to $250,000 and terms ranging from 10 years to 30 years.

They also offer the ValueGuard Whole Life Insurance plan, with face amounts of up to $150,000.

And if you are looking for a policy that provides a death benefit, and not only has no medical exam requirement – but also doesn’t ask any health questions at all – they have their Legacy Whole Life Insurance plan. This is a guaranteed issue whole life policy that provides coverage for a face amount of up to $25,000. It is available for those between the ages of 50 and 80, and offers a fixed death benefit, with fixed premiums.

One downside to this policy – though it is common for the policy type – is that it has a two year graded death benefit. This means that if you die within the first two years after the policy is issued, you will be entitled to a return of the premiums paid (up to 110%) but not the death benefit itself.

No medical exam policies are an excellent choice if you would prefer to avoid the exam for any reason. But they do cost more in premiums on a per thousand basis than fully underwritten policies do. In addition, they usually have strict limits on the amount of the death benefit. So for example, if you decided you need a policy with a death benefit of $1 million, a no medical exam policy probably will not work for you.

But if you want this kind of policy, ANICO is the best life insurance company to get it through.

Company Ratings:

A.M. Best: A (Excellent)

Moody’s: N/A

Fitch: N/A

Standard & Poor’s: A (Strong)

Find the Best Life Insurance Rates

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Types of Life Insurance to Consider

Once you realize the importance of life insurance, your next step is figuring out which type of coverage to buy. Although individual life insurance products can run the gamut, most life insurance policies are offered in one of four ways – either as term life, whole life, universal life, or variable life. Although there are many variables that can occur within each of these insurance “types,” each can be described as follows:

Term Life Insurance

A term life insurance policy works exactly how it sounds; after purchasing coverage, or committing to pay for coverage on a regular basis, you receive life insurance for a certain number of years, or a “term.” Most people buy term life insurance to cover their working years, or any term between ten years or thirty years. It all depends on their needs. Because term life insurance doesn’t include an investment component, it is almost always the most affordable coverage you can buy. One major benefit of term life insurance is that your premium shouldn’t change while your policy is in force. Once you “lock it in,” you can count on those premiums for the duration of your policy.

The ideal customer for term life insurance is:

• Someone who wants to protect their family from financial losses during their working years
• An individual who only needs coverage for a specific length of time (i.e. thirty years)

Who should pass:

• Individuals who want life insurance that will never expire
• People who want to purchase a life insurance policy that will build cash value

Whole Life

Whole life also works similarly to its namesake; after you purchase a plan or commit to funding one, you receive life insurance coverage for your entire lifetime. This coverage, which is commonly referred to as permanent life insurance, adds an investment component as well. Where your plan secures life insurance coverage meant to provide for your family in the event of your death, your plan also builds cash value from investments made by your life insurance company. While your monthly premium usually won’t change with whole life, you can generally borrow against the cash value of your policy with favorable terms.

The ideal customer for whole life insurance is:

• Someone who wants to purchase life insurance coverage that will never expire
• Someone who wants a policy that will build cash value they can borrow against

Who should pass:

• Someone who wants the most affordable premiums money can buy
• Anyone who only needs life insurance for a limited term, or length of time

According to BurialInsurancePlans.org, a whole life policy helps you be the most certain that you will have coverage no matter what. Even if it is a smaller burial policy instead of the full blown large death benefit.

Universal Life

Universal life works similarly to whole life insurance in the fact that it provides permanent life insurance coverage that will never expire. However, it combines this coverage with in an investment component as well. Adding complexity to the way universal life insurance works is the fact that this type of coverage offers flexible premiums – as in, the amount you pay into your policy can fluctuate from year to year. Because of the way the investment component of universal life insurance works, however, your policy may build more cash value some years than others.

The ideal customer for universal life insurance is:

• Anyone who wants flexibility in their premiums and death benefit
• Someone who wants a permanent death benefit that will never expire

Who should pass:

• Someone who wants fixed premiums and a fixed death benefit
• Someone who wants to keep their premiums on the affordable side

Variable Life

Variable life insurance is another form of permanent life insurance that offers an investment component that builds cash value. Because variable life insurance allows you to allocate a portion of your premiums to a separate investment account, this type of life insurance is generally more expensive than other types of coverage. Due to the way these policies are set up, consumers can decide when to pay higher premiums for a higher death benefit within certain limits. Since you can generally choose from a variety of investments within the investment component of your coverage and returns are never guaranteed, variable life insurance is regulated under federal securities laws.

The ideal customer for variable life is:

• Someone who wants to participate in various investment opportunities without being taxed on their earnings
• Anyone who wants the potential for higher returns, but doesn’t mind the risk of losses

Who should pass:

• Individuals who just want life insurance for a fixed length of time, usually ten, twenty, or thirty years
• People who prefer not to take on any risk

Your New Life Insurance Policy: How and Where to Purchase Coverage

If you are ready to buy a policy from one of the best life insurance companies or haven’t reviewed your life insurance in a while, we can help. I have partnered with Root Financial, a top independent agent who works with all of the top insurers in the market place today, and can get you all of the information that you need in order to make an informed buying decision.

You can obtain pertinent details on policy features and premium price, as well as compare the plans of various carriers. Best of all, any information you need can be obtained quickly and easily, directly from your computer and without the need to meet with an insurance agent.

Ready to get started? Let us take care of the details. All you need to do is:

• Scan the left side of this page to find the form that says “compare quotes.”
• Fill out the form to the best of your ability, adding your personal details along with the type of coverage you’re interested in.
• Include accurate contact information so that an agent can get ahold of you if absolutely necessary.

If you have any additional questions regarding which of the best life insurance companies might be best for your needs, or about how you can obtain life insurance quotes, start by filling out the form on this page. If you need to discuss a specific medical condition with an agent, on the other hand, you will be contacted and receive answers to any of the questions or concerns that you may have.

Purchasing life insurance can seem absolutely overwhelming at times, and that’s especially true when you’re considering different types of coverage with more than one provider. By highlighting the best life insurance companies on the market today, we hope to minimize your research and help you find the best company for your needs.

With your family’s financial security on the line, reading through these crucial details and conducting some research on your own is an excellent use of your time. And if you need help, all you have to do is ask.

Summary Top 10 Best Life Insurance Companies

Company Name	A.M Best Rating	Fitch Rating
AIG	A+	A+
Banner	A	A-
Genworth Financial	A	BB+
Lincoln Financial	A+	A+
MetLife	A+	AA-
Mutual of Omaha	A+	AA-
New York Life	A++	AAA
Prudential	A+	A+
Transamerica	A+	AA-
Voya	A	A-

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7 Things You MUST Know About the Roth IRA Rules for 2017

Understanding all the Roth IRA rules may seem difficult, but if you plan on adding to your Roth IRA as a part of your portfolio in order to secure a stable and enjoyable retirement, it makes sense to have all of the current information regarding the current IRS regulations concerning the Roth.

Plus, you want to have a grasp of the current IRA rules for any given year. And with 2017 well under way, many people are already planning their retirement contributions and looking forward to what 2018 might bring.

If you made the maximum contribution amount into your Roth for 2017 and are thinking about saving for next year’s contribution, you may also want to know what the new limits are – as well as the new income caps.

Or maybe you’ve just got your eye on the tax season. No matter what, you should be well aware of all of the latest details before you start making decisions about your IRA. Fortunately, we have all the answers in a single article – and you just happen to be reading it.

Here’s a look at the Roth IRA rules for 2017.

As to be expected, there are some differences in the Roth IRA rules for 2017 that help this type of account stand out from previous years.

As of late last year, the IRS has revealed it current Roth IRA rules for 2017. This data was based on a variety of factors and figures and includes inflation statistics that they used to come up with new limits for the contributions.

Need to open a Roth IRA?
My favorite online broker is Scottrade but you can check out our recap on the best places to open a Roth IRA and the best online stock broker sign up bonuses.

There are many good options out there, but I have had the best overall experience with Scottrade. No matter which option you choose the most important thing with any investing is to get started! Check out my post on the best short term investments as well for more info!

2017 Roth IRA Rules You Should Be Aware Of

#1 Contribution Limits Stayed the Same

Standard Roth IRA contribution limits stayed the same as last year, with $5,500 being the limit any individual can contribute. In addition , plan participants ages 50 and over still have a limit of $6,500, which is commonly referred to as the “catch up contribution.”  You can also contribute to your ira up until tax day of the following year.

Contribution Year	49 and Under	50 and Over (Catch Up)
2009	$5,000	$6,000
2010	$5,000	$6,000
2011	$5,000	$6,000
2012	$5,000	$6,000
2013	$5,500	$6,500
2014	$5.500	$6,500
2015	$5.500	$6,500
2016	$5.500	$6,500

#2 Roth IRA Phase-out Limits Have Increased

Although contribution limits stayed the same, other information released in the 2017 Roth IRA rules show some changes.

For example, the AGI phase-out range for tax payers making contributions to their Roth’s is now between $184,000 and $194,000 for couples who file jointly. While this range is slightly higher than the year before, it’s not a huge change.

A similar increase took place for singles who file taxes and contribute to a Roth IRA. As of 2017, the range where phase-outs begin now starts at $117,000 and ends at $132,000. Meanwhile, married individuals who file separately and have been actively participating in an employer-sponsored retirement plan should see no changes in the phase-out range.

#3 Direct 401k Rollovers Into Roth IRA’s is S-I-M-P-L-E

Another rule that remained the same but still offers more opportunity than was available prior to 2010 concerns direct rollovers for 401(k) to a Roth IRA.

The process used to require you to open a traditional IRA account, then rollover your 401(k) into it, and end by opening a Roth account and converting the traditional IRA into a Roth.

In 2010, this changed by skipping a step, letting you convert it directly from the 401(k) to a Roth IRA. It’s less of pain and there is certainly less unnecessary paperwork.

Learn about all the rules of rolling over your 401k into a Roth IRA.

#4 Roth IRA Conversions Continue

In 2017, the rules are the same as 2010. However, there is no longer a two year deferral option to report the income. Whatever is converted in 2017 must be reported in 2017, along with any amounts that must be reported as half of a 2010 conversion. The income limits disappeared permanently after 2009.

Want more information on the Roth IRA Conversion? You can see more on the conversion tax rules regarding after tax contributions.

#5 “Take Back” Still in Effect (IRA Recharacterization)

If you initiate a Roth IRA conversion and then decide it wasn’t the best idea, you’re in luck. You’re allowed a “take back” in the form of a recharacterization. The recharacterization deadline is 10/15 of the following year. If you did the Roth IRA conversion in 2016, you would have until 10/15/2017.

#6 *NEWER RULE* Roth Conversions from Your Existing 401k

This new option was released a few years ago in the Small Business Tax bill.

First things first. If you are still working, are at 59.5 in age, and your plan allows it, you can do what’s called an in-service distribution with your 401(k) into an IRA. Once you reach the IRA, you then, of course, can do the conversion. What you might not know is that some plans allow you to take out certain “parts” of your 401(k) balance.

The key here is “parts.” You still aren’t able to distribute your entire 401(k) balance to then do a conversion. Where the rules change a bit is regarding the employer profit sharing and employer contributions. These two type of contributions are available for the in-service distribution provided they meet this criteria:

1. The money has been in there for at least 2 years.2. You, the employee, has been in the plan for at least 5 years; or you’ve reached an age that has been satisfied according to your plan documents.

Please note: If you have rolled over an IRA or old 401k into your current 401k or you have contributed after-tax contributions, those will be allowed for an in-service distribution. This is providing the plan document allows it.

#7 If You Can’t Convert to Roth IRA…What About Roth 401k?

If don’t qualify for the in-service distribution, you don’t have to throw in the towel quite yet. The IRS just released guidance about the possibility of converting your 401(k) to a Roth 401(k). However, in order to qualify or even entertain this option, you must have a Roth 401(k) option with your current plan.

In other words, no Roth 401(k) option = no conversion.

Another important consideration: Unlike the Roth IRA conversion, there is NOT an option to recharacterize with a conversion to a Roth 401(k).

The key to all this is dependent on your 401(k) plan, and unfortunately, they are all different. The best thing to do is to check with your HR department to see if any of these options are available.

Here’s another piece of advice: If your employer doesn’t offer it, stay on them and continue asking for the retirement perks you really want. A little bit of pressure and persistence never hurts, and they may end up adding the option if they see there is a demand.

Benefits people wanted this option to allow plans to retain assets that otherwise would be distributed out of the plans for Roth IRA conversions. Here is the IRS release on these conversions: http://ift.tt/2iY6uxi.

Does it Apply to 403b’s?

If you’ll look into the IRS publication, you will see that the in-service Roth IRA conversions can also apply to 403b’s. Once again: Double check with your plan administrator. Notice a theme here?

Best Roth IRA Account Options

There are many brokerage firm options for you to open a Roth IRA with, but which one is best?

Each broker is going to have different strengths depending on your investing experience and goals.

The new investor that is just getting started might want to consider opening an account with E*TRADE . Meanwhile, a more experienced trader could really benefit from all the tools offered by Scottrade or TD Ameritrade.

Which broker is right for you? At the end of the day, it all depends on your situation.

We maintain two Roth IRA resources for readers, and both of them are a good read if you’re ready to open a Roth IRA:

• a list of the best places to open Roth IRA will walk you through the best account opening options
• a list of the best online stock broker sign up bonuses shows you which brokerage firm offers the best bonus for your account size

Scottrade

Scottrade is one of our favorite brokers thanks to their low trading costs, excellent online interface, and 500+ branch locations across the country that you can walk into for help.

Even though Scottrade doesn’t offer a sign up bonus for opening a Roth IRA, we still love this brokerage firm. (And if you are just starting out investing you probably don’t have $10,000 to $25,000 needed to get really big brokerage sign up bonuses.)

E*Trade

For those just starting out and trying to build up a great investing habit, E*Trade is one of the best brokerage firms to go with.

Your trades are rock bottom priced at just $4.95 when you do automatic investing.

That automatic investing will, over time, help you build a large portfolio. You don’t have to have all of the money to invest today as long as you can commit to building up your funds over time.

E*Trade helps you do just that. The interface is simple, and if you can get up to $1000 in free trades for signing up.

Don’t read a bunch of information and put off opening a Roth IRA. Your retirement can’t wait. Get started today and choose one of the above accounts to open your first Roth IRA. Not sure which account you want? Check out the best places to open Roth IRA and the best online stock broker sign up bonuses.

Benefits of a Roth IRA

Obviously, there are certain benefits that come with investing in your Roth with only after-tax dollars. For starters, being able to invest with after-tax dollars offers the distinct advantage of letting your money grow tax-free in this case. When you’re ready to take distributions at retirement age, you won’t have to worry about how the tax landscape has changed, or whether or not you’re at a lower or higher tax bracket than you were before.

Because of this, many financial professionals believe that having a Roth IRA is one of the best ways to diversify your tax liability. By having different types of accounts – including some that tax distributions and a Roth IRA, which does not – you can shield yourself from any unknown changes that could take place within our tax system.

With any type of retirement account, you’ll owe taxes now – or you’ll owe taxes later. Paying taxes on your money now and investing in a Roth IRA means you’ll pay up now, but manage to shield yourself from paying taxes on those funds in the future.

Since many people believe income taxes could be considerably higher in the future, this is often seen as a pretty sweet deal.

Lastly, you can withdraw your contributions to a Roth IRA without penalty at any time, which is why the Roth is also used a long-term savings vehicle for many people. Please note, however, that you can only withdraw contributions without penalty until the age of 59 ½. If you want to withdraw earnings, you’ll pay a 10% federal penalty tax.

Disadvantages of Having a Roth IRA

Of course, not everyone likes the setup and structure of Roth IRA accounts. For starters, the low contribution limit of $5,500 for 2017 ($6,500 for individuals ages 50 and over) isn’t nearly enough to make or break your retirement. That’s why most financial professionals suggest contributing to a Roth IRA only after (or in conjunction with) maxing out your tax-advantaged retirement accounts.

Second, the income caps that government enacts on Roth IRAs severely limit the number of people who can make the full contribution. Third, some people approach Roth IRAs with feelings of trepidation due to a general distrust of the government. Just because you are promised tax-free distributions twenty, thirty, or even forty years from now, doesn’t mean the economy won’t change so much that the rules are forced to change.

Hopefully that won’t happen and Roth IRA distributions will remain tax-free for the long haul, but many investors fear the worst. After all, thirty years from now is practically a lifetime away.

6 Reasons to Get a Roth IRA

Although Roth IRAs are far from perfect, no retirement savings vehicle offers terms that everyone will love. In the real world, there are plenty of reasons a Roth IRA could be the perfect addition to your long-term savings and retirement strategy. Here are 6 times when a Roth IRA makes perfect sense:

#1 You think you’ll be in a higher tax bracket when you retire.

If you think you’ll be in a higher tax bracket when you retire, or have reason to believe taxes will be higher across the board, contributing to a Roth IRA now might be a tax-savvy move. By contributing with after-tax dollars that were charged a lower tax rate now, you can save money by not paying taxes on your distributions later. At least in theory, this is how it is supposed to work.

#2 You want to diversify your exposure to taxes.

If you’re contributing to tax-advantaged retirement accounts in addition to a Roth IRA, you’re in the best position to diversify your exposure to taxes – both now, and in the future. All of us will pay now, or we’ll pay later, but by having traditional retirement accounts and a Roth, you’ll experience a little bit of both.

#3 You’re already maxing out your work-sponsored retirement accounts.

If you’re maxing out your tax-advantaged retirement accounts and still want to save more for retirement, a Roth IRA might be a smart bet. After all, it just gives you another place to stash away your retirement dollars – and the money you invest could grow considerably over time.

#4 You want to invest for retirement, but think you might need to get your money out one day.

Since you can deduct your contributions from a Roth IRA at any time without penalty, a lot of people use them as a form of long-term savings. They may not think they’ll need to access that money, but they want to leave the door open to the option. A Roth IRA is a smart place to invest your money if you know that you may need it before retirement. However, it’s important to note that a Roth IRA will inevitably have more risk than other long-term savings vehicles like Certificates of Deposit (CDs) or savings accounts. With a Roth IRA, you can actually lose money.

#5 You want flexibility in terms of when you take withdrawals.

Where 401(k) plans and traditional IRAs force you to begin taking withdrawals at age 70 1/2 at risk of paying a large penalty if you don’t comply, the Roth IRA has no such requirement. Therefore, this type of account is a great option for anyone who doesn’t want the hassle of forced distributions when they get old enough.

#6 A Roth IRA is a solid estate-planning tool – at least when it comes to taxes.

If you don’t think you’ll need every penny of your retirement funds, a Roth IRA is a great place to stash away your extra dollars. Since distributions are generally tax-free, you can usually leave your account to your heirs, which will allow them to take tax-free distributions.

With your tax-advantaged retirement accounts, on the other hand, your heirs will need to pay income taxes on your retirement funds as they withdraw them.

The Bottom Line

If you think a Roth IRA might be in your future, don’t delay. Get started now by choosing one of the above accounts to get started with. Not sure which account you want? Our posts on the best places to open Roth IRA and the best online stock brokers can help you figure out which broker will work best for your retirement goals, and your personal investing style.

Sources:

• Treas. Reg. § 1.401-1(b) (1)(ii) and Revenue Rulings 71-295 and 68-24
• http://ift.tt/2iY6uxi

This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.

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This Family’s Drastic Decision Will Help Them Pay Off $100K in Debt in 5 Years

A week ago, I ran out of church with tears welling in my eyes, completely overwhelmed by what my life had become.

I knew we had made the right choice by moving to a new town — but the drastic change still got to me.

Let me back up a bit and explain.

In the Beginning, Life was Great

Our family’s life wasn’t perfect, but it was pretty good and I considered myself blessed. I was married to an incredible guy. Our families lived nearby (but not too close). Our northern New Mexico mountain community was beyond perfect for us.

The cost of living was a bit high, but we lived well within our means. We loved the intimacy of a cultured, small town with the amenities of the city not far away. We had a supportive and wonderful church family. We could be on a hiking trail within moments of leaving our door, and on a ski lift or camping within 20 minutes.

My husband had a government job that paid nearly $90,000. I liked to think we were pretty good with our money. We had no car payments or credit card debt. We had a mortgage on a modest, older home. Our 401(k) was kicking butt and taking names.

The one hitch in our financial situation was my husband’s $100,000 in student debt.

We were able to pay the monthly minimum payments and paid extra when we could — but certainly not as often as we would’ve liked. The monthly loan payments were almost as much as our mortgage payments! But since we were able to cover it all with our income, it was acceptable.

I was thankful for the life we lived, and never took it for granted.

A Surprise Job Offer

We weren’t searching for a change, but out of nowhere my husband was recruited by an oil company offering to pay him $140,000, including stock options and bonuses.

The catch: We’d have to move far away to an oil town.

My knee-jerk reaction was, “NO WAY!”

I couldn’t think about putting a price on the life we lived. I was distraught at the thought of losing it.  

And here was the hardest part: It would all be for debt I didn’t personally incur. Trying to handle debt that wasn’t mine to begin with was very tricky.

I was fully aware of my husband’s financial situation when I said “yes” to the ring, but accepting it didn’t make dealing with the consequences any easier.

I felt a constant resentment toward what seemed like insurmountable debt, followed soon by guilt. The debt usually bothered me more than my husband. But over time, he was beginning to see how it could affect our future.

At some point, I pulled up my big-girl pants and started looking at everything like a businessperson. Slowly, I realized we had to take the offer.

Accepting the new job meant we could get out of debt in three to five years instead of 20. Daily compounding interest is the devil — at least when you’re paying it.

Why I Wanted to Get Out of Debt ASAP

I didn’t speak to anyone about my realization for weeks, not even my husband. But I couldn’t look at my two children, a 2-year-old and a 3-month-old, and say “no” to the prospect of being debt-free.

To do so would’ve meant rejecting many things that could enrich their lives later: sports, music lessons, camps, travel, braces, etc.

If there was something I could do to make a better life for my kids, especially before they were old enough to be heavily invested in their community, I had to do it.

Kids ruin everything.

We said our good-byes, packed our things, and now — a year later — we live in this awful oil town.

I had hoped after this much time, we’d have grown to like it more… but we haven’t. It’s still ugly as sin. There’s still nothing to do. The schools are still rubbish.

I don’t cry daily like I used to, but it still occasionally happens. It’s not that I’m a weakling and can’t handle life.

It’s that I’ve lost the ability to do the things that used to help me deal with stress. And at the worst possible time.

So when I feel overwhelmed, I remind myself that this chapter of life is temporary.

I constantly tell myself two things:

1. I can do anything for three to five years.
2. My future self will be beyond grateful to my present self… and so will my kids.

It will be WORTH it.

How Moving is Helping Us Pay Off Our Debt

Since the move, we’ve shaved more than a decade off the life of our “debt sentence.” Despite our discontent, the plan is working!

Due to the drop in oil prices (literally the week we moved here), the job hasn’t been quite as lucrative as we’d hoped, but we’re still making great headway.

We could probably be out of here faster if we went all Dave-Ramsey-Wild on our debt. We could live in a cheap, janky trailer, eat only rice and beans, and play Monopoly instead of enjoying our favorite TV shows.

But guess what?

Sometimes, if you’re making such a huge and life-changing choice, you have to give yourself a couple things to keep from going crazy.

So we bought a decent house in a nice neighborhood — but still spent far less than what we were approved for. We watch cable. This summer, after lots of saving and cashing in a ton of miles, we’re ditching the kids with granny and going to Europe for 10 days.

We just need something to look forward to.

We’ll keep doing this. And as those loan balances dwindle, we can dream about what life will be like when we’re out of debt.

One day, we’ll be able to stop writing checks to a loan company, and start watching our money work for us as we invest in ourselves.

And we can’t wait.

Your Turn: Have you ever made a big sacrifice to help you reach your financial goals faster?

Maggie Moore prefers the term “trophy-wife-on-kid-duty” over “stay-at-home mom.” She loves the outdoors, including skiing, hiking and camping. Other than the goal of debt freedom, her other motivation for budgeting and saving money is her love of travel.

The post This Family’s Drastic Decision Will Help Them Pay Off $100K in Debt in 5 Years appeared first on The Penny Hoarder.

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The Top 10 Good Financial Goals That Everyone Should Have For 2017

Never Want to Work Again? Here’s What to Do When You Hate Having a Job

Confession time: I’ve spent my life quitting jobs and avoiding full-time employment.

In fact, since my first job 35 years ago, I’ve never been employed full-time for more than a few weeks.

I’ve enjoyed many jobs for short periods of time, and used jobs for various purposes, but I actually hate traditional employment.

You might secretly feel the same. You may hate your current job and suspect you’ll hate any future replacements.

But you still have to pay bills, so what can you do?

What Should You Do If You Hate Your Job?

Assuming you want to avoid living in poverty as a strategy (although it worked for me for a while), here are some other options for what to do when you hate your job.

Reduce Your Fixed Expenses

If you live on less, you can cut your hours or replace your full-time job with a part-time one.

Alternately, you could save enough money to allow you to simply quit jobs more often — either for a break or to just look for better ones.

Stop spending money on gadgets, meals out and other discretionary expenses. But these might not make a big enough dent in your budget, since you have to pay rent, car payments and other big expenses regularly.

So first, look for ways to reduce large fixed expenses.

Develop New Income Sources

If your ultimate goal is to never need a job again, you have to develop other sources of income.

Here are some basic categories of non-employment income:

• Freelancing
• Running your own business
• Investing
• Money projects

Try to diversify how you make money.

For example, my dozen income sources this year include freelance writing, income from websites, hard money loan interest and more than $3,000 from credit card and bank sign-up bonuses.

Notice these cover all four categories. See the following posts for more ideas:

• 103 Ways to Make Money at Home
• 10 Ways to Make 6 Figures Without a Job
• How to Start a Small Business With Less Than $100
• Rent Out Rooms in Your House

Room rentals paid off my first mortgage, so I cut back to one or two weekly work days, living largely off rental income.

Your ultimate goal is to develop enough income to completely replace your paycheck.

But if you cut expenses and generate even some non-employment income, you can work less or change how you use your jobs to make them more tolerable.

For example, you can…

Work Only Part-Time Jobs

Once you develop enough extra income, you’ll have the freedom to work only two or three days per week.

If it’s not possible with your current employer, find a different part-time job.

Or just quit and take a break, which leads to your next option…

Make All Jobs Temporary

I’ve never considered a job as more than a temporary assignment — a way to make enough money to quit and take some time off before the next assignment.

This approach makes jobs much more tolerable.

To be safe, wait until you have enough other income sources, so the paycheck from any job will cover the rest of your living expenses.

You can also sign up at a temporary job agency. Some offer “day labor” positions that are low-pay, but you can take them as needed.

Others offer placement in potentially permanent positions, but you can always quit when you’ve had enough.

Find Better Jobs

Even if you’re a confirmed job-hater, there are better and worse positions, right?

So until you can get that non-job income up to the level you need, why not at least find better jobs?

Here are some previous THP posts to help you:

• The 10 Best Jobs for Travelers
• Escape the Cubicle: 10 Outdoor Jobs With Good Salaries
• Work From Home: 6 Companies That Hire Remote Workers

If you’re going to need employment (at least part-time) for a few more years, you may also want check out the jobs with the happiest employees.

Make More Money From Your Job

If you make more money from your job and save it, you can take what “The 4-Hour Workweek” author Timothy Ferriss calls a “mini-retirement.”

You might spend the rest of your life alternating between jobs you hate and their mini-retirements.

If this appeals to you, check out some ways to make more money from your job in between the retirements you want to enjoy.

Live Well on Less

If you learn and use strategies to live like you’re rich on a small budget, you have many of the above options available — even if you only develop a little non-job income.

Or…

Get Rich Quick and Quit Forever

If you commit yourself to getting rich early in life — and succeed — you can quit work. Just invest your money and live on the returns.

If that appeals to you, look over some real-life examples of the fastest ways to make $1 million, or check out this story of a couple who retired in their 30s to live off their investments.

Collect Unemployment

Editor’s note: We’re not necessarily recommending this strategy, but it does qualify to be on the list.

Hey, everybody pays into the system and if somebody has to collect, why not you?

Apart from just waiting and hoping you get laid off, there are two legal and honest ways to increase your odds of collecting unemployment compensation.

First, apply for work at companies with known seasonal layoffs.

For example, resort and construction workers often get laid off each winter. Just be sure you’ll be working enough weeks to qualify for unemployment before you are laid off.

The second way takes more research and a bit of luck.

The idea is to find work at a company headed for bankruptcy. When you’re terminated, you can collect unemployment compensation until you find the next opportunity, to a maximum of 26 weeks in most states.

Your Turn: Do you hate your job — or all jobs? What are you going to do about it?

Disclosure: A toast to savings! Thanks for allowing us to place affiliate links in this post.

Steve Gillman is the author of “101 Weird Ways to Make Money” and creator of EveryWayToMakeMoney.com. He’s been a repo-man, walking stick carver, search engine evaluator, house flipper, tram driver, process server, mock juror, and roulette croupier, but of more than 100 ways he has made money, writing is his favorite (so far).

The post Never Want to Work Again? Here’s What to Do When You Hate Having a Job appeared first on The Penny Hoarder.

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A Data-Driven Method for Finding Out Whether Your Content Sucks

Sometimes, you have to show some tough love. You’ve got to be brutally honest.

Because I value you (yes, you!) as a reader, I don’t want to lie to you or sugarcoat things for you. You deserve better.

I want to give you the best advice possible so you can go out there and succeed.

If I’m being brutally honest: Your content might suck.

It’s not your fault—my content was downright awful for years. It took me a long, long time to get really good at blogging.

Blogging is hard. Coming up with awesome content is hard.

You might know your content isn’t as good as it could be, but you probably don’t know where you’re going wrong.

And if you don’t know where you’re going wrong, you’ll never improve.

That’s why I’ve put together this data-driven method of finding out whether your content sucks. There’s no guesswork here. I’ve laid out everything for you here, step by step.

I wish someone would have given me a guide like this when I started blogging. It would have eliminated years of mistakes, and I’m not exaggerating.

Let’s get started.

Get into the right mindset

When I started blogging, I didn’t really know how to make my content better.

For a while, I thought I was just an awful blogger.

If you feel that way, let me reassure you: You’re not a bad blogger.

Writing is a skill anyone can develop, and don’t let anyone tell you otherwise. I wasn’t born with the ability to write. I had to hone my writing for years.

I know from experience that it can be difficult to see exactly why your content sucks.

Thankfully, there are several tried-and-true methods I’ve learned during my career that will help you identify and fix problems in your content.

Before we get into the nitty-gritty, I want to point out two things.

First, you need to be your own worst critic. Don’t be too harsh on yourself, but try to detach yourself from your writing.

There’s a famous quote in writing that applies here:

When you’re writing, don’t get too attached to anything. You’ll need to be honest with yourself during the editing process, so try to look at your own writing as if it’s someone else’s.

Second, don’t be afraid to ask for help. Even today, I work with editors all the time. My writing still isn’t perfect, and I’ve been blogging for over ten years.

If you get stuck along the way, there’s no shame in finding a writer or editor to help you out.

Better yet, email a blogger you really admire, and ask for their help. It sounds crazy, but most bloggers (yes, even the big names) are more than happy to help up-and-coming bloggers.

Now that you’re prepped, let’s make your content shine.

Specifically, let’s talk about diagnosing bad content.

Often, if your content is bad, you’ll just know. Other times, it’s more difficult.

Here are some of the most common flaws of bad content.

Problem #1: Keyword stuffing

If you can use up both hands to count the number of keywords in a paragraph, you’re witnessing keyword stuffing.

Keyword stuffing happens when someone uses a keyword several times within a short amount of space.

Moz made up a great example:

Keyword stuffing has been around for years, and people still use it today in an attempt to enhance their SEO.

But keyword stuffing is really only good at one thing: annoying your readers.

Keyword optimization can be a powerful tool, but stuffing ruins it. Plus, Google doesn’t like it. If you have keyword stuffing, you need to fix it pronto.

How to fix it: Fixing keyword stuffing is a two-step process.

First, let go of your keyword obsession. Remember, you’re creating content for human beings—not for search engines.

Try writing an entire post without thinking about keywords at all. You don’t have to use the final product, but I do recommend this exercise to get you out of the keyword stuffing habit.

Second, get up to date with keyword research. It’s still a vital part of SEO and online marketing, but you need to do it right.

I recommend spending a lot of time investigating insanely specific long-tail keywords for your niche.

Then, learn how to seamlessly integrate your long-tail keywords into your posts. It might take a while, but it will reward you many times over.

Problem #2: Reader unawareness syndrome

I’ve said it countless times before, and I’ll say it again: Blogging is all about creating awesome content for your readers.

That means you have to know who your readers are.

I’ve read lots of blog posts that were well-written with excellent research and examples. The only problem? The content wasn’t aimed at the blog’s demographic.

Let me tell you the story of a failed startup called Patient Communicator.

Patient Communicator’s goal was to provide a CRM for doctors and patients. But, as founder Jeff Novich realized,

We had no customers because no one was really interested in the model we were pitching.

Many product ideas fail because the company doesn’t understand what their audience wants. It’s the same for blogs.

If you don’t understand what your readers want and deliver that type of content, your blog will be quickly forgotten.

How to fix it: To relieve reader unawareness syndrome, you’ll need to do some thorough research to find out who exactly your audience is.

This is a great opportunity to look into both demographics and psychographics of your readership to understand who your readers are and why they read your content.

A good method of obtaining both demographics and psychographics is to survey your readers. SurveyMonkey is a great tool for this.

You’ll get direct feedback from the people you’re writing for, and you can’t get much better than that when it comes to marketing.

Problem #3: Bad writing

When I first started blogging, I was a bad writer, to put it lightly.

Over the years, I’ve learned a ton about copywriting, but for a long time, my content suffered.

There’s no denying that well-written content can take you from 0 to 60. If you can write well, you’ll command your readers’ full attention.

More importantly, excellent writing sets you up as an authority. Being able to communicate your ideas clearly is an invaluable skill to have, no matter what industry you’re in.

Likewise, bad writing can harm you. People won’t see you as an authority, and they might even doubt your credibility.

You could have the best content in the world, but if it’s not written well, it will flop. That’s why it’s a great use of your time to study writing.

If you struggle with writing, don’t worry—it’s easier to improve than you might think.

How to fix it: In short, study copywriting from authoritative resources. Here are a few to get you started:

• Quick Sprout’s Definitive Guide to Copywriting
• Copyblogger
• Copyhackers

Next, become a regular reader of the most popular blogs in your niche. For example, in marketing, Hubspot, Inbound, and Inc are three popular blogs.

A simple way to find the top blogs in your niche is to run a Google search.

If you’re in finance, for example, search “finance blogs.” Find 5-10 popular blogs, and read them religiously.

Finally, put what you’ve learned into practice. Compare your content to that of the blogs you read. Do you see similarities? If you struggle, where is the problem?

This 3-step process will help you become a better writer, but it won’t happen overnight. You have to be dedicated and keep it up every single day.

Keep practicing, and, like I said earlier, don’t be afraid to ask for help.

Problem #4: Lack of value

People love value.

Jay Baer from Convince and Convert surveyed 25 popular blog posts and found that people love tips and tools. Many of those 25 posts featured actionable advice that readers could use almost instantly.

Sadly, many blogs withhold value from their readers. Many bloggers are afraid to give too much away.

What those bloggers don’t understand is that people read content in order to get something valuable.

Think of it as a transaction. The reader is spending time and energy to check out your content, and they’re looking for something in return.

It seems counterintuitive, but giving away a ton of value will make your readers more devoted to your brand. I know it sounds crazy, but it’s true.

That’s why I write super-long articles that are packed with advice. It’s a tried-and-true method that’s never let me down.

If you’re worried about giving away value, don’t be. It’s worked for me and countless others, and it’ll work for you too.

How to fix it: Start creating content with the sole goal of providing value. Don’t worry about doing SEO or writing clickbait headlines. Just focus on value.

Strive to provide at least one helpful takeaway in every piece of content you write. (Longer content should have more takeaways.)

These takeaways should be pieces of actionable advice that readers can use in their lives. Ideally, they should be able to implement the advice immediately.

Make sure to let your readers know what value they’re getting. Start with the title.

Here’s an example of a great title from Brian Dean at Backlinko:

You can tell right away what you’ll get if you read the article. That’s what you want to accomplish.

You can also create infographics like this one we published on Crazy Egg:

Whatever media you use, pack it full of value. You won’t regret it.

Conclusion

Let me reiterate this: If your content sucks, it’s not because you suck.

Writing awesome content is hard. It’s taken me years of practice to get where I am today, and guess what? I’m still learning.

But it’s important to recognize when your content does suck.

There’s a huge chance that your content will make a lot of first impressions. People who have never heard of your brand before could stumble upon one of your blog posts, and they’ll judge your brand based on your content.

And if your content is bad, you’ll lose potential customers. But if your content is amazing, you’ll win people over.

What kind of data do you use to figure out how effective your content is?

Source Quick Sprout http://ift.tt/2iqgaUa