Money’s Main Takeaways:
State Farm is the best choice for customer satisfaction and financial stability
For same-day coverage, Ethos is our top pick
Our choice for no-exam life insurance is Bestow
Policygenius is the best marketplace to shop for rates
Since 2017, Money’s editorial team has researched and analyzed companies offering various types of life insurance policies. Our ongoing assessment focuses on insurers’ offerings, customer satisfaction ratings and financial stability. Read the full methodology to learn more.
30+ insurers evaluated
6 categories scored
1,000+ hours of research
Why Trust Us?
Our writers and editors evaluate insurance companies independently, ensuring our content is precise and guided by editorial integrity. Read the full methodology to learn more.
30+ insurers evaluated
6 categories scored
1,000+ hours of research
Our Top Picks for the Best Life Insurance Companies of 2024
State Farm – Best for Customer Satisfaction and Stability
Bestow – Best No-Exam Life Insurance
Ethos – Best for Same-Day Coverage
Policygenius – Best Online Life Insurance Broker
Ladder – Best for Flexible Coverage
New York Life – Best Whole Life Insurance
Nationwide – Best for Bundling Discounts
Northwestern Mutual – Best for Policy Customization
Best Life Insurance Companies Reviews
Sample premiums are based on a 35-year-old female or male in excellent health for a $500,000 20-year term-life policy. Your rate will depend on your age, health and sex, among other factors.
Company
Term
Female
Male
State Farm
20-year
$28/month
$30/month
Pros
Top-rated for customer satisfaction
Low number of customer complaints
Long list of optional riders
Simplified-issue (no exam) policies available
Cons
Online quotes are not available for all policy options
Most policies require medical exams
Why we chose it: State Farm is our choice for the best life insurance company for customer satisfaction and stability because of its excellent reputation for customer service and outstanding strength ratings.
In 2023, for the fourth year in a row, J.D. Power named State Farm the top company in its U.S. Individual Life Insurance Study, which measures overall customer satisfaction based on responses from over 5,500 respondents. Additionally, it has an A++ (Superior) rating from AM Best — the highest possible — indicating excellent financial stability.
State Farm sells term life insurance (10, 20 or 30 years), plus whole and universal life insurance policies. Although most of its plans require medical exams, it does offer some no-exam options as well as a long list of optional riders.
HIGHLIGHTS
AM BEST RATING
A++ (Superior)
POLICY TYPES
Term, No-exam, Whole, Universal
RIDERS AVAILABLE
Children's Term Life Insurance Benefit, Waiver of Premium Benefit, Level Term Life Insurance Benefit, Waiver of Monthly Deduction Benefit, Guaranteed Insurability Option, Payor Insurance Benefit, Qualified Long-Term Care Insurance, Advanced Death Benefit for Long-Term Care, Accelerated Benefit for Long-Term Care, Additional Insured's Level Term Life Insurance Benefit, Additional Insured's Level Term to Age 95, Level Term to Age 95 and more
Read our full State Farm Life Insurance review
See rates on State Farm’s Secure Website
Company
Term
Female
Male
Bestow
20-year
$27/month
$37/month
Pros
High coverage amounts (up to $1.5M) without a medical exam
Online application and quick processing
Terms range from 10 to 30 years
Long (30-day) free look period
Cons
No riders available
Only sells term life insurance
Must be younger than 60 to qualify for coverage
Policies not available to residents of New York
Why we chose it: We chose Bestow as the best life insurance company for no-exam life insurance coverage because it has one of the fastest and easiest application processes on the market. It also offers an unusually high death benefit payout for policies that don’t require a medical examination.
Bestow is our choice for individuals who want life insurance coverage without undergoing a medical exam. The company uses your personal information — including medical history, hobbies and lifestyle — to determine your eligibility for coverage and life insurance rates. According to Bestow, you can buy up to $1.5 million in term life coverage within minutes.
The company’s policies are issued by top-rated insurer North American Company for Life and Health Insurance or by Bestow Life Insurance Company. You can buy Bestow policies through its website or through Lemonade Insurance.
HIGHLIGHTS
AM BEST RATING
A+ Rating (Superior) - North American Company for Life and Health Insurance
POLICY TYPES
No-exam term life insurance
RIDERS AVAILABLE
None
Read our full Bestow Life Insurance review
See rates on Bestow’s Secure Website
Company
Term
Female
Male
Ethos
20-year
$21-$38/month
$26-$49/month
Pros
Same-day coverage for most approved applicants
No exams -- the process is entirely online
Get a free will with your policy
Policy purchase includes free will and estate planning tools
Cons
Little information publicly available about optional riders
Term life eligibility starts at age 20
Not available in New York
Why we chose it: Ethos is our top choice for same-day life insurance coverage due to its ability to accommodate a diverse range of applicants. Even individuals who have faced challenges in qualifying for insurance in the past have found success with Ethos.
Ethos offers streamlined life insurance application and underwriting processes, leveraging proprietary technology to provide same-day coverage to most applicants. Individuals aged 20 to 65 can secure term life coverage for 10 to 30 years, with coverage amounts ranging from $20,000 to $2 million. Most applicants can skip the medical exam.
Meanwhile, those aged 65 to 85 are automatically eligible for guaranteed issue whole life policies, which offer coverage from $10,000 to $25,000 without a medical exam. These policies offer graded benefits for the first two years, providing beneficiaries with 100% of premiums paid plus 30% in case of death within this period, excluding accidental deaths.
HIGHLIGHTS
AM BEST RATING
A (Excellent) and higher - Mutual of Omaha, Ameritas and TruStage, Legal & General
POLICY TYPES
Term - simplified issue and fully underwritten (ages 20 to 65), guaranteed issue (ages 65 to 85)
RIDERS AVAILABLE
Accidental Death Benefit
Read our full Ethos Life Insurance review
See rates on Ethos’s Secure Website
Company
Term
Female
Male
Policygenius
20-year
$17-$32/month
$20-$40/month
Pros
Quickly and easily compare quotes from multiple insurers
Get guidance from real licensed agents
Various types of insurance policies available
Cons
Online quotes aren't available for all providers
Takes longer to provide a final price than other options
Why we chose it: We chose Policygenius as the best online life insurance broker because it offers one-stop access to policies from a long list of partners, including some of the best life insurance carriers mentioned on our list. And unlike other comparison sites, this one pledges not to sell your information to third parties.
Policygenius, an online insurance broker, offers a range of policies including life, home, auto, and disability insurance. Users can swiftly obtain premium estimates by entering basic personal information and then delve into policy comparisons by providing additional details.
The platform features an extensive array of term life insurance policies spanning from 10 to 40 years in 5-year increments, along with whole, universal, and no-exam policy options. Moreover, Policygenius hosts a wealth of educational resources for individuals new to life insurance and provides personalized assistance from licensed insurance agents.
HIGHLIGHTS
AM BEST RATING
No AM Best rating
POLICY TYPES
Term, Whole, Universal, No-exam
RIDERS AVAILABLE
Varies by carrier
Read our full Policygenius review
See rates on Policygenius’s Secure Website
Company
Term
Female
Male
Ladder
20-year
$20/month
$22/month
Pros
Term coverage can be adjusted over time
$100,000 to $8 million in term coverage available
30-day free look period, rather than the 10-day norm
Up to $3 million in coverage with no medical exam
Cons
Plans are limited to people aged 20 to 60
Only offers term coverage
No optional riders
Why we chose it: We picked Ladder as the best life insurance company for flexible coverage because it allows you to increase or decrease the amount of coverage on your policy as your needs change. Additionally, premiums start at just $5 per month, so you can purchase a life insurance policy even if you’re on a tight budget.
While Ladder exclusively offers term life insurance if you’re 20-60 years old, we’ve found it to be the best insurer for those seeking flexible, affordable coverage. By completing a simple 3-step online application, policyholders can access up to $3 million in coverage. Ladder doesn’t charge cancellation fees, so you can cancel your coverage at any time, with no strings attached.
HIGHLIGHTS
AM BEST RATING
A (Excellent) to A+ (Superior) - Amica, Allianz, Fidelity Security Life Insurance, S.USA Life
POLICY TYPES
Term Life, No-Exam
RIDERS AVAILABLE
None
Read our full Ladder Life Insurance review
See rates on Ladder’s Secure Website
Company
Term
Female
Male
New York Life
Whole Life
$245/month
$245/month
Pros
Multiple term, whole and universal life policies available
Highly rated company
Potential to earn dividends
Cons
Must work with an agent
Can't get an online quote
Why we chose it: We picked New York Life as the best life insurance company for whole life coverage because it offers various permanent policies. Its term life policy also includes the option to convert to permanent coverage down the road.
New York Life offers lifetime coverage and various policy options like whole, universal, and variable universal life insurance. You can tailor your plan with add-ons such as an accidental death benefit, chronic care and living benefits riders.
Known for underwriting AARP’s life insurance program, New York Life, a mutual insurance company, allows policyholders to own company shares and potentially receive dividends based on their policy type. However, one downside of working with the company is that it doesn’t offer quotes online. For policy details and rates, you’ll need to speak with an agent.
HIGHLIGHTS
AM BEST RATING
A++ Rating (Superior)
POLICY TYPES
Term, Whole, Universal, Variable Universal
RIDERS AVAILABLE
Accidental death, chronic care, disability waiver of premium, living benefits, spouse's paid-up insurance purchase option and more
Read our full New York Life Insurance review
See rates on New York Life’s Secure Website
Company
Term
Female
Male
Nationwide
20-pay Whole Life
$288/month
$267/month
Pros
Discounts for bundling life with homeowners or auto insurance
Multiple insurance plans and optional riders
Cons
Most policies require medical exams
Most policies must be purchased through agents
Why we chose it: Nationwide is our pick for the best life insurance company for bundling discounts because, unlike other companies, it allows policyholders to save on life insurance by combining this coverage with auto and homeowners insurance policies.
Nationwide writes term, whole life, variable and universal policies, and has several optional riders you can use to adjust your policy to your needs. Additionally, the company offers discounted pricing for bundling life insurance policies with other types of insurance, such as long-term care insurance, renters insurance or pet insurance.
HIGHLIGHTS
AM BEST RATING
A (Excellent)
POLICY TYPES
Term, Whole, Universal, Variable
RIDERS AVAILABLE
Long-term Care, Chronic Illness, Critical Illness, Terminal Illness, Children's Term Insurance, Premium Waiver, Waiver of Monthly Deductions Rider, Accidental Death Benefit, Extended No-Lapse Guarantee, Estate Protection, Guaranteed Insurability, Overloan Lapse Protection
Read our full Nationwide Life Insurance review
See rates on Nationwide’s Secure Website
Company
Term
Female
Male
Northwestern Mutual
N/A
N/A
N/A
*Northwestern Mutual does not provide quotes online. You must consult an advisor to get an estimate.
Pros
Great selection of optional riders
Multiple policy and coverage options
Potential to earn dividends
Highly rated by third parties
Cons
Policies must be purchased through agents
Medical exams required for most policies
Limited online quote tools
Why we chose it: Northwestern Mutual is our pick for the best life insurance company for policy customization because it offers more riders than most insurers, allowing you to customize your policy as much as you like. Insurance riders allow you to get coverage for loved ones, access your benefits under special circumstances or even waive your premiums if you become ill.
Northwestern Mutual, the largest life insurance company by market share, offers a variety of life insurance products, including term, whole, universal and variable universal life insurance. As a mutual insurer, it also pays dividends to eligible policyholders.
Northwestern Mutual is a reputable company that’s usually listed at the top of the life insurance industry rankings. It ranked above the industry average in J.D. Power’s 2023 U.S. Individual Life Insurance Study and, according to NAIC data, has received fewer complaints than similarly-sized companies.
HIGHLIGHTS
AM BEST RATING
A++ Rating (Superior)
POLICY TYPES
Term, Whole, Universal, Variable
RIDERS AVAILABLE
Accelerated Death Benefit, Accidental Death, Waiver of Premium, Indexed Protection, Additional Purchase, Long-term Care Benefit
Read our full Northwestern Mutual Life Insurance review
See rates on Northwestern Mutual’s Secure Website
Other life insurance companies we considered
We evaluated life insurance vendors and companies based on customer service, product offering, simplicity of underwriting, ability to pay claims on time and high ratings.
The following companies have competitive offerings but aren’t among our top picks because they didn’t excel in one of several of our criteria.
Amica Mutual
Pros
Up to $5 million in term life coverage
Whole life policies can be paid up by a certain age
Whole life options available to applicants up to age 80
Highly rated digital experience for other insurance lines
Cons
Limited selection of policies to choose from
Few details about its term life policies on the website
Not included in J.D. Power's life insurance study
Amica Mutual stands out as a top choice for property and casualty insurance. It recently earned the highest ranking in the J.D. Power U.S. Insurance Digital Experience Survey and is among the best homeowners insurers we’ve evaluated, offering comprehensive coverage and unique features.
Why Amica didn’t make the cut: Despite its strong reputation in other insurance areas, Amica’s life insurance products are relatively unknown. Not included in J.D. Power’s U.S. Life Insurance Study and lacking NAIC complaint data, Amica offers affordable term life coverage (10-, 20-, and 30-year policies ranging from $11 to $25 per month), but has a limited selection of policies
Read our full Amica Life Insurance review
Lemonade
Pros
Premiums start at just $9 per month
Process is 100% online
No medical exams
Full refund if you cancel within the first 30 days
Cons
Only people aged 18-60 can apply
Not available in NY
Approval unlikely with a history of life-threatening illness
Lemonade offers term life insurance with no medical exam. Customers can complete the full online application in around five minutes and purchase 10- to 30-year term policies with up to 1.5 million in coverage. Policyholders must download Lemonade’s mobile app to manage their policy, submit claims and access customer service.
Why Lemonade didn’t make the cut: The company didn’t make our top picks due to its limited insurance offerings and lack of detailed information about riders and policies on its website.
MassMutual
Pros
Young and/or healthy applicants may not need a medical exam
Offer term, whole life, universal life and variable universal life insurance policies
Direct Term life insurance can be purchased immediately online
Cons
You can only earn dividends with a whole life insurance policy
Offers no information about riders
Can only get a quote for term insurance online
MassMutual’s insurance portfolio includes term and permanent life insurance, including a term life policy that can be purchased online. Customers can also convert their term life insurance to a permanent policy without a medical exam. MassMutual features a life insurance calculator to help prospective clients assess their insurance needs.
Why MassMutual didn’t make the cut: Unlike other insurers on top list, MassMutual offers few optional riders, so customers have limited options for policy customization.
Read our full MassMutual Life Insurance review
Guardian Life
Pros
Online quotes and account management
Policies available for people with HIV
Cons
Must apply (and cancel) through an agent
Doesn't offer no-exam (guaranteed issue) policies
Guardian Life’s insurance portfolio includes term, whole and universal life policies. Those interested in a term life policy can get an online quote on Guardian Life’s website, but they must contact an agent or provider to purchase a policy or get quotes for permanent life insurance.
Why Guardian Life didn’t make the cut: Unlike our top life insurance companies, Guardian offers few optional riders, and its website provides very little information about policies.
Read our full Guardian Life Insurance review
USAA
Pros
High cap on the value of their policies
Policies start at just $12 per month
Don't need a military connection to apply
Cons
Available only to current and former military, their spouses and children
Medical exam required for all policies
Some policies unavailable in New York
USAA various life insurance options, including term and permanent coverage. Policies start at $12 a month and coverage amounts go up to $10 million. Additionally, policyholders receive complimentary survivor assistance, and the option for disability protection. There’s also simplified whole life coverage available for children.
Why USAA didn’t make the cut: The company’s website lacks comprehensive information about available riders and cash value policies. To learn more, you must speak to a USAA representative over the phone.
Read our full USAA Life Insurance review
Haven Life
Pros
Offered simplified issue policies and up to $3 million in term life coverage
Additional benefits on term life policies
Cons
Ceasing operations and is no longer accepting new applications
Product availability varied by state
Haven Life sold 10-, 15-, 20-, 25- and 30-year term policies with coverage amounts ranging from $25,000 to $3 million. Backed by the superior financial strength of MassMutual and its subsidiary, C.M. Life, term policies sold through Haven Life offered reliable coverage and additional benefits like access to will and estate planning tools.
Why Haven Life didn’t make the cut: After more than eight years in business, Haven Life is ceasing operations. The company is no longer accepting new insurance applications. Policies already issued through Haven Life will continue to be administered and serviced by MassMutual or its subsidiary.
Read our full Haven Life Insurance review
Best Term Life Insurance Companies
Term life insurance lasts for a set period of time, typically ranging from 10 to 40 years. These policies are often renewable and less costly than a permanent policy. Our choices for the best term life insurance companies are below.
Category
Company
Coverage Amounts
Financial Strength Rating - AM Best
Best Overall
State Farm
Starting at $100,000
A++ (Superior)
Best for Term Options
Protective Life
$100,000 - $50 million
A+ (Superior)
Best for No-Exam Coverage
Ethos
$100,000 - $2 million
A and higher - Mutual of Omaha, Ameritas and TruStage, Legal & General
Best for Adjustable Coverage
Ladder
$100,000 - $8 million
NR (Not Rated)
Best for Parents
Fabric by Gerber
$100,000 - $300,000
A (Excellent)
Best Whole Life Insurance Companies
Whole life insurance provides lifetime coverage with a fixed death benefit, and also typically includes a cash value component. Our picks for best whole life insurance companies are below.
Category
Company
Coverage Amounts
Financial Strength Rating - AM Best
Best for Flexible Payment Options
New York Life
Undisclosed
A++ (Superior)
Best Whole Life for Seniors
Ethos
$10,000 - $25,000 for ages 66 - 85
A and higher - Mutual of Omaha, Ameritas and TruStage, Legal & General
Best for Riders
Nationwide Insurance
$10,000 and up
A (Excellent)
Best for a Variety of Whole Life Policies
State Farm
$25,000 and up
A++ (Superior)
Best Whole Life for Children and Young Adults
Gerber Life
$50,000 - $300,000
A (Excellent)
Best No-Exam Life Insurance Companies
No-exam life insurance doesn’t require a medical exam. It can be either permanent or term life insurance. Find out picks for the best no-exam life insurance companies below.
Category
Company
Coverage Amounts
Financial Strength Rating - AM Best
Best for High Coverage Amounts
Ladder
$100,000 - $3 million
NR (Not rated)
Best for Bundling Discounts
State Farm
$25,000 and up
A++ (Superior)
Best Overall
Nationwide Insurance
$250k - $1.5M (term life)
A (Excellent)
Best for Low Minimum Coverage Amount
Ethos
$20,000 - $2 million
A and higher - Mutual of Omaha, Ameritas and TruStage, Legal & General
Best for Members of the Military
USAA
$100,000
A++ (Superior)
Life Insurance Guide
Table of Contents
How to compare life insurance policies
How to purchase life insurance
Cost of life insurance
What’s the best place to get life insurance quotes?
What’s the difference between term, whole and universal life insurance policies?
Life insurance is a contract where the insurer promises to pay a death benefit to the policy’s beneficiary upon the policyholder’s death. This benefit is funded by the policyholder’s lifetime premium payments.
Life insurance policies fall into two main categories:
Permanent life insurance – Policies last your entire life and may have a cash value component that can be accessed for various purposes. Learn more about permanent policies through our guides on whole life insurance, universal life insurance, variable life insurance and joint life insurance.
Term life insurance – Provides coverage for a set number of years — anywhere from 10 to 40 — and does not include a cash value (final expense insurance falls in this category). Read more about this option on our term life insurance guide.
For term or whole life coverage without a medical exam, consider a simplified or guaranteed issue policy. Read more about this option on our guide to no-exam life insurance.
How to compare life insurance policies
Here are some steps to follow when shopping around for life insurance and comparing policies:
1. Understand how different types of life insurance policies work
Learn the differences between term versus whole life insurance. Term life may suit young, healthy individuals who want income replacement for a specific period, such as the duration of a mortgage. Permanent life insurance offers lifetime coverage and growth potential but higher premiums.
2. Choose a policy term
If you’re sold on term life insurance, your next step should be to choose a life insurance term length. To do so, consider how long you need to provide for your dependents and the duration of any other financial obligations. Remember that the longer the term, the higher the premium.
3. Determine how much coverage you need
To determine how much life insurance you really need, add up potential end-of-life expenses, family lifestyle adjustments, debts and hidden income (e.g., employer benefits). Then, subtract potential income sources (e.g., Social Security) and adjust for inflation.
4. Shop for quotes
Once you’ve decided on a type of policy and coverage amount, get life insurance quotes from several different companies. Insurers price risk differently, so you could get widely different estimates based on your age, gender, health and lifestyle.
5. Make an apples-to-apples comparison
When comparing policies, request quotes for the same policy type, term length (if applicable), and coverage amount. Factor in unique features, optional riders, and discounts. Also, weigh insurers’ reputation for customer service and financial stability.
How to choose the best life insurance company for you
When searching for the best life insurer, consider the following factors.
1. Policy types: Check if the insurer offers both term and permanent life insurance options. Some newer insurers, especially those online, may focus on term life and guaranteed-issue policies.
2. Application process: Determine if the application is entirely online or if you need to work with an agent during underwriting.
3. Medical exam requirements: Understand whether a medical exam is necessary. Some companies offer no-exam life insurance.
4. Riders: Check if the policy can be enhanced with riders. Some companies include riders in the policy, while others sell them separately. Availability varies.
5. Coverage: Note the minimum and maximum coverage amounts offered. These can vary significantly among insurers.
6. Pricing: Compare life insurance premiums from different insurers. Prices vary based on how they assess risk. It’s best to get quotes from multiple companies.
7. Company reputation: To ensure the company is reputable, check AM Best for financial strength ratings, the National Association of Insurance Commissioners (NAIC) for customer complaints, the Better Business Bureau (BBB) for customer reviews and the latest J.D. Power Individual Life Insurance Study for industry rankings.
Cost of Life Insurance
More than half of Americans overestimate the cost of life insurance by three times, says LIMRA’s 2023 Life Insurance Barometer Study.
In reality, life insurance costs vary based on factors like policy type, coverage amount, term length, age, health and lifestyle. Drinking, smoking, and high-risk activities lead to higher premiums, as do chronic health conditions and risky occupations like roofing or construction.
Disclaimer: Sample rates for a 35-year-old in excellent health are provided below. Your rate depends on factors like age, health, and gender. For transgender or nonbinary, our guide answers common questions.
Term life insurance – $500,000 policy
Company
Term
Female
Male
Amica Mutual
20-year
$18/month
$21/month
Bestow
20-year
$27/month
$38/month
USAA
20-year
$20/month
$23/month
Mutual of Omaha
20-year
$22/month
$26/month
Ladder Life
20-year
$20/month
$22/month
State Farm
20-year
$24/month
$30/month
Nationwide
20-year
$21/month
$23/month
MassMutual
20-year
$20/month
$23/month
Sproutt
20-year
$17/month
$20/month
Policygenius (insurance broker)
20-year
$17 - $32/month
$20 - $40/month
Permanent Life Insurance – $250,000 policy
Company
Term
Female
Male
New York Life
Whole Life
$245/month
$285/month
USAA
Whole Life - Pay for Life
$167/month
$185/month
Nationwide
20-pay Whole Life
$288/month
$267/month
MassMutual
Whole Life
$233/month
$275/month
Policygenius (life insurance broker)
Whole Life
$219 - $226/month
$261 - $279/month
The most common reasons life insurance won’t pay out
Life insurance carriers may withhold the death benefit from your beneficiaries in the following circumstances:
You withheld information or lied in your insurance application regarding your health, family history, hobbies or upcoming travel plans.
You die by suicide within one to three years of getting the policy and there’s a suicide clause in place.
You die participating in a risky hobby for which there’s an exclusion clause.
You’re murdered by someone who is a designated beneficiary in the policy.
Your death took place during the policy’s contestability period.
Best Life Insurance FAQs
What is the best life insurance?
The best life insurance for you is one that aligns with your particular financial situation. Before choosing a plan, assess how you plan to use the policy. Do you need coverage for funeral expenses or want to ensure your family's financial stability in your absence? For more information, explore our step-by-step guide to choosing a policy.
How much is life insurance per month?
The cost of a life insurance policy will depend on factors such as the applicant's age, sex and overall health as well as the type of policy and coverage amount they select. Monthly premiums typically range from $20 to over $300. Our section on the cost of life insurance includes sample rates for permanent and term life insurance policies.
Does life insurance pay for death by suicide?
Whole and term life insurance generally pay for death by suicide, unless the policy contains a suicide clause. Under this clause, the policy won't pay out if the policyholder dies by suicide within one to three years after the policy's effective date. Group life insurance policies typically don't have these clauses, but contact your company's benefit manager for confirmation.
What is the cash value of a life insurance policy?
Permanent life insurance, like whole or universal policies, builds cash value over time. You can use this cash value to borrow against your policy, cover premiums, or buy more coverage. If you don't repay a loan before your death, the outstanding amount is deducted from the death benefit.
Can you get life insurance if you have cancer?
Cancer patients may be eligible for a no-exam, guaranteed issue permanent life insurance policy. These skip the medical exam, ensuring guaranteed approval with most carriers. However, premiums are typically higher, and coverage amounts usually range from $50,000 to $100,000. While some policies have waiting periods, others offer immediate coverage.
How We Chose The Best Life Insurance Companies
Our methodology for the Best Life Insurance Companies list is extensive. As part of the review process for each company, we:
Assessed each company’s ability to pay claims on time
Compared product offerings and pricing against industry competitors
Examined financial strength ratings as reported by credit rating agencies like AM Best
Analyzed customer satisfaction ratings as reported by J.D. Power in the latest U.S. Life Insurance Satisfaction Study
Studied complaints regarding their individual life insurance policies, based on National Association of Insurance (NAIC) data
Evaluated the simplicity of their underwriting process
As part of our research, we interviewed representatives from various companies. While we strive for accuracy in regulatory and legal information, it may not be complete or fully up to date. Rates can change, so we advise conducting your own research too.
Summary of Money’s Best Life Insurance Companies of 2023
State Farm – Best for Customer Satisfaction and Stability
Bestow – Best No-Exam Life Insurance
Ethos – Best for Same-Day Coverage
Policygenius – Best Online Life Insurance Broker
Ladder – Best for Flexible Coverage
New York Life – Best Whole Life Insurance
Nationwide – Best for Bundling Discounts
Northwestern Mutual – Best for Policy Customization
Read Our Other Life Insurance Guides
Best life insurance by policy type
Best Life Insurance for Veterans
Best Life Insurance for Young Adults
Best Life Insurance for Self-Employed Individuals
Best No-Exam Life Insurance Companies
Best Whole Life Insurance Companies
Best Family Life Insurance Companies
Life insurance guides
What is Life Insurance and How Does it Work?
What is Whole Life Insurance and How Does it Work?
What Is Single Premium Life Insurance?
What Is Return of Premium Life Insurance?
What Is a Survivorship Life Insurance Policy?
What is Joint Life Insurance and How Does it Work?
What Is an Irrevocable Life Insurance Trust?
What Is Level Term Life Insurance?
What is No-Exam Life Insurance and How Does it Work?
Can You Have Multiple Life Insurance Policies?
Everything You Should Know About Life Insurance for Smokers
Can You Take Out a Life Insurance Policy on Anyone?
5 Signs of Life Insurance Scams and How to Avoid Them
How Long Should Your Life Insurance Policy Last?
How Does Life Insurance Underwriting Work?
8 Things To Know Before Submitting a Life Insurance Application
Everything You Should Know About Life Insurance With Living Benefits
What is Term Life Insurance?
Term vs. Whole Life Insurance: Know the Difference
What is Permanent Life Insurance and How Does it Work?
High-Risk Life Insurance
Guide to Life Insurance for Transgender People
Life Insurance vs. Annuities Explained
How to Create a Life Insurance Retirement Plan
How to Borrow Against Your Life Insurance
