Aflac Life Insurance Review 2024

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Written by Georgia Rose
Lead Writer
Profile photo of Erica Corbin
Edited by Erica Corbin
Assistant Assigning Editor
Fact Checked

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Aflac

3.0

NerdWallet rating 
Bottom line: Aflac sells term and whole life policies, as well as supplemental life insurance through the workplace.

on Nerdwallet

Financial strength rating

Exceptional

Online purchase

No

NAIC complaints

More than expected

Policies offered

Term, permanent & no-exam
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on Nerdwallet

Aflac

3.0

NerdWallet rating 
Bottom line: Aflac sells term and whole life policies, as well as supplemental life insurance through the workplace.

Financial strength rating

Exceptional

Online purchase

No

NAIC complaints

More than expected

Policies offered

Term, permanent & no-exam

In our life insurance reviews, our editorial team considers the customer and the insurer. These are some of the factors we take into account:

Policies offered. There are many types of life insurance on the market, and they fall into three key categories:

  • Term life insurance offers temporary coverage and a guaranteed payout if the policyholder dies during the term.

  • Permanent life insurance typically lasts a lifetime and builds cash value that can be borrowed against in the future.

  • No-exam life insurance issues coverage without the need for a medical exam.

Financial strength. We use AM Best ratings to confirm an insurer’s long-term financial stability and ability to pay claims. For life insurance, NerdWallet typically recommends considering insurers with ratings of A- or higher. Here’s the breakdown:

  • Exceptional: A+, A++.

  • Strong: A-, A.

  • Moderate: B, B+.

Complaints. These ratings are based on complaints to state regulators relative to a company’s size, according to three years’ worth of data from the National Association of Insurance Commissioners. The best life insurance companies have fewer than the expected number of complaints.

Buy online. This indicates whether an insurer allows you to apply for and buy a policy completely online.

You may hear a duck sound in your head when you think of Aflac, but the company’s position in the insurance industry is no quacking matter. Aflac sells insurance benefits at work, such as supplemental life insurance, which you can buy on top of your employer-provided coverage. Availability varies among employers.

You can also buy term life, whole life and final expense insurance through an Aflac agent. Some policies are not sold in all states.

Why you can trust NerdWallet: Our writers and editors follow strict editorial guidelines to ensure the content on our site is accurate and fair so you can make financial decisions with confidence and choose the products that work best for you. Here is a list of our partners, and here’s how we make money.

Aflac life insurance rating

3.0

NerdWallet rating 

Aflac earned 3 stars out of 5 for overall performance. NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account consumer experience, complaint data from the National Association of Insurance Commissioners and financial strength ratings.

Aflac life insurance policies

Term life insurance. Aflac’s term life policy is available to applicants ages 18 to 70, with up to $500,000 of coverage. You can buy policies lasting 10, 20 or 30 years and have the option to add a waiver of premium rider, accidental death benefit rider or child term life rider. Aflac’s term life policy is available in 49 states.

Whole life insurance. Similarly, Aflac’s whole life policy offers up to $500,000 of coverage to applicants ages 18 to 70. You can add a waiver of premium rider, child term rider or 10-year term life rider to your policy. You can also add an accidental death benefit rider, which increases the death benefit if you die in an accident. Whole life coverage is available in 48 states.

Final expense life insurance. Policies are available to applicants 45 to 80, with $5,000 to $50,000 of coverage available. This type of policy is available nationwide. Depending on your age and health, you may qualify for one of two plans:

  • Level plan. Under this plan, there is no waiting period for accidental and nonaccidental death, which means your beneficiaries receive the full death benefit immediately. You must be between ages 45 and 80 to apply, and coverage amounts range from $5,000 to $50,000.

  • Modified plan. With this plan, nonaccidental deaths are subject to a waiting period, which means your beneficiaries may have to wait three years before receiving the full benefit if you die of nonaccidental causes. You must be between 45 and 75 to apply, and coverage amounts range from $2,000 to $25,000.

Supplemental life insurance. Aflac also sells life insurance through the workplace. If you want more coverage than the amount your employer provides, you may be able to buy supplemental coverage like juvenile life insurance. This policy covers employees’ children, 14 days to 17 years old. You can buy $10,000, $20,000 or $30,000 coverage for your child and choose a term or whole life policy. Aflac’s workplace policies are also portable, so you can take the coverage with you if you leave your job.

Aflac customer complaints and satisfaction

Over three years, Aflac has drawn more than the expected number of complaints to state regulators for a company of its size, according to a NerdWallet analysis of data from the National Association of Insurance Commissioners.

Where Aflac stands out

You can buy term and whole life policies through Aflac agents, as well as get coverage through workplace plans. Plus, you can use Aflac’s online life insurance calculator to help you figure out how much coverage you need.

Where Aflac falls short

The website lacks details about the policies the company offers to individuals, and you can't get a quote online without speaking to an agent. Also, some plans aren't available in all states.

More about Aflac

Alongside life insurance, Aflac also offers a range of other coverage options, such as:

Find the right life insurance plan for you
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Life insurance buying guide

Before you start comparing companies, choose the type of life insurance you want, such as term or whole life. Decide which life insurance riders, if any, you want the policy to include. Calculate how much life insurance you need and how long you want the coverage to last. Check that the insurers you’re considering offer the coverage you’re looking for.

When comparing rates, be sure the quotes are for the same amount of coverage over the same period of time. It’s also important to make sure the policy’s medical requirements match your needs. For example, if you want to skip the life insurance medical exam but don’t mind answering health questions, confirm that the application process for each policy you're comparing aligns with that.

Price may not be the biggest driver behind your decision to buy. Look at the number of consumer complaints each company receives, as high numbers can be a red flag about the quality of service.

For more guidance, see our life insurance buying guide.

Methodology

Life insurance ratings methodology

NerdWallet’s life insurance ratings are based on consumer experience, complaint index scores from the National Association of Insurance Commissioners for individual life insurance, and weighted averages of financial strength ratings, which indicate a company’s ability to pay future claims. Within the consumer experience category, we consider ease of communication and website transparency, which looks at the depth of policy details available online. To calculate each insurer’s rating, we adjusted the scores to a curved 5-point scale.

These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.

Insurer complaints methodology

NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2020-2022. To assess how insurers compare with one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Ratios are determined separately for auto, home (including renters and condo) and life insurance.

In This Review . . .