Founded in 1995, Aflac is a relative newcomer to an industry dominated by long-established companies. In just a few decades, however, they've become something of a household name themselves and, more importantly, earned strong ratings from S&P, AM Best, and other organizations that rate corporate financial stability.

Aflac is generally considered a strong company by the organizations that measure financial stability. Their less-than-stellar ratings with organizations who rate companies based on consumer feedback should be seen in context. Insurance companies are regularly the focus on consumer ire. Consumers who rate Aflac on such sites as the BBB are a self-selecting group and their opinions are not necessarily representative of Aflac's entire customer base. Aflac insures more than 50 million people. The 100 or so people who penned poor reviews of Aflac on the BBB site represent just 0.00025% of Aflac's customers. The handful of complaints we found could actually be interpreted as a favorable reflection of Aflac customer satisfaction.

Aflac is a slightly different animal than other insurers. They specialize in supplemental insurance, which means their policies are designed mainly for people who already have primary insurance but are looking to extend protection with a second policy. While the maximum benefits offered by Aflac policies may be lower than some other insurers' limits, their premium prices are correspondingly lower, too. Supplemental policies offer the benefit of portability—when they are purchased directly by a consumer, their benefits don't disappear when you change jobs. Many employers cover you at a level that's determined by your salary. Aflac allows you to purchase the amount of coverage you need (up to their policy limits) regardless of what you earn. Self-employed people who don't have the benefit of employer coverage might also find Aflac a good option for meeting their life insurance needs.

Aflac life insurance offers considerable flexibility, though not quite as many special riders as some insurers. This may be due to the fact that Aflac offers many different types of policies, including critical illness coverage which, for example, protects customers should they require long-term health care.