Top Life Insurance Companies


Jamaica is located in Central America. Kingston, Jamaica’s capital houses most of the insurance companies. The Financial Services Commission (FSC) controls the insurance sector in Jamaica. Life, health, and general insurance companies currently operate under their supervision. The insurance division of the Financial Services Commission follows the guidelines of the Insurance Regulations 2001 and Insurance Act 2001. Jamaica’s insurance market has witnessed significant growth in recent years due to its economic growth, technological advancements, initiatives taken by the government, and increasing awareness among people.

Every individual must buy life insurance policies as it offers financial support to their family members when they are no more. So when you decide to buy life insurance, it is important to choose a reputed life insurance provider. If you are looking for the best life insurance companies in Jamaica, here is a curated list.

1. Scotia Jamaica Life Insurance (SJLIC)

Scotia Jamaica Life Insurance was founded in 1995 due to strong demand for insurance products from its customers. Its parent organization is the Bank of Nova Scotia Jamaica Limited which has been in existence since 1889. As one of the reputed life insurance companies in Jamaica, they offer flexibility and freedom when it comes to planning your future. They offer a variety of life and credit insurance policies that are tailored to secure your family’s future and achieve your personal goals. The insurance products are available at all the branches of the Scotia bank.

Products: Single Premium Credit Life Protection Insurance and Level Premium Credit Life Protection Insurance

Address: 5th Floor, Scotiabank Centre, Corner Duke, and Port royal Streets, P.O. Box 709, Kingston, Jamaica
Phone: 1-888-GO-SJLIC (467-5542)

2. Guardian Life Limited

Guardian Group is a platform offering integrated financial services in the Dutch Caribbean and the rest of the world. It ranks among the best life insurance companies in Jamaica. As a market leader, they understand the customer’s needs best. Their services include life and health insurance, asset management, trust services, and general insurance. They take care of your investments and try their level best to generate maximum returns. They aim to achieve global excellence and not just be best in Jamaica alone.

Being a customer-centric company, Guardian Life Limited values its customers and operates in a socially conscious way. It has been observed that consumers have been benefited to a great extent from the various initiatives they have taken for the wellbeing of society.

Products: Individual Benefit Plans and Employee Benefit Plans

Address: Guardian Life Limited, 12 Trafalgar Road, Kingston 5.
Phone: (876) 927 – 4105, 1 -888-FOR LIFE (367-5433), 1-888-GUARDIAN (482-7342)

3. Sagicor Life Jamaica

As a financial services conglomerate, Sagicor Group Jamaica began its journey in 1970. They are the first life insurance company to feature in the Jamaica Stock Exchange and as per A.M. Best, they have received an Excellent (A) rating. It is the best option for no medical exam coverage and whole life insurance plans. They offer higher death benefits and their rates are lower when compared to other insurance providers.

Customers get the advantage of buying coverage within a very short period of time. They offer more options for death benefits related to whole life and universal life insurance policies. Apart from life and health insurance, they offer products and services related to banking, investments, real estate, and retirement planning, and asset management.

Products: Term life insurance, universal life insurance, and whole life insurance

Address: 24-48 Barbados Avenue, Kingston, Jamaica
Phone: +1 888-724-4267, 888

4. JN Life Insurance Company Limited

The company is a part of The Jamaica National Group and has been providing life insurance solutions to Jamaicans since 2013. It ranks sixth in the list of registered life insurance companies in Jamaica. The company’s revenue amounts to $2 million. The main purpose of their JN Life Family Comfort (Family Indemnity Plan) is to give customers and their family peace of mind. Their aim is to secure the lives of their esteemed customers by offering high-quality and affordable insurance services.

Products: Bulk Premium Creditor, Credit Card Creditor, Family Critical Illness, Group Life Creditor, Individual Critical Illness, Mortgage Creditor, and Single Premium Creditor Life insurance

Address: 26 Trafalgar Rd, Kingston, Jamaica
Phone: +1 876-926-1344

How to choose the best life insurance company

Now that you know about the best life insurance companies in Jamaica, the next step is to choose one. It is not a good idea to consider the price alone especially when you decide to buy life insurance as it is a long-term product. You should take into account other factors as well. You should have multiple price quotes at your disposal because if you get a higher final price quote from one company, you can settle for another. There are companies that quote low prices initially but finally, you end up getting unexpected surprises.

It will be a decision on your part if you choose a life insurance company that is financially sound. You should also consider the type of life insurance you are buying, for instance, term life insurance or permanent life insurance. Term life insurance is more flexible whereas permanent life insurance helps to build cash value. Selecting an insurance company will also depend on your health conditions and the rates for the same person may differ from company to company. Some of them may even offer a better rate to a person with certain medical conditions and yet have a decent profit margin but others may not.

Keeping in mind all these factors, you can choose one of the best insurance companies and have peace of mind.

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