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This article was reviewed by Andrew Flueckiger, a member of the Finder Editorial Review Board and certified insurance counselor and licensed insurance agent in five states.
Finder’s life insurance experts have spent over 500 hours analyzing the top 100 life insurance companies, cutting through the noise of 780 insurers vying for your business. We base our life insurance rankings on each company’s financial soundness, customer satisfaction and coverage options. We factor in the latest AM Best financial ratings, J.D. Power customer satisfaction scores and the National Association of Insurance Commissioners complaint index.
To find the best life insurers, we rank every company we review with 1- to 5-star ratings. Finally, we exclude companies that don’t meet our standard — few states served, little policy customization or not enough information online to make an informed decision.
We added a few insurers to our list, going from seven to 10 companies. We focused on insurers that stand out in one area, such as their online buying experience or life insurance coverage.
MassMutual topped our list as the best insurer overall for two years running, and New York Life, Legal & General and State Farm held their spots.
Yes, but expect a longer wait if you’re signing up today. Applications may be postponed for those at risk of getting the coronavirus, like international travelers. If you can’t wait, consider no-exam, guaranteed issue or temporary policies.
★★★★★
The mutual company has paid dividends to permanent policyholders every year since the 1860s, impressive since dividends aren't guaranteed. This is also a major perk if you have assets to protect like a home.
| Coverage range | $2,000 – $10,000,000 |
|---|---|
| Term lengths | 10, 15, 20, 25, 30 years |
| Issue age | 18 – 80 years |
★★★★★
You'll find the best rates for seniors, though other high-risk applicants may qualify. You can also choose from an impressive 13 riders, including return of premiums, decreasing term and a rare return of cash value.
| Coverage range | $100,000 – $1,000,000 |
|---|---|
| Term lengths | 10, 15, 20, 30 years |
| Issue age | 18 – 60 years |
★★★★★
For example, the 10-Pay Whole Life Plan lets you pay off your policy in 10 annual payments, helping you pay more toward the cash value later for faster wealth-building.
| Coverage range | $250,000 – $5,000,000 |
|---|---|
| Term lengths | 10, 15, 20, 30 years |
| Issue age | 18 – 75 years |
You can buy coverage up to $1.5 million online without speaking to an agent or taking a medical exam — but you will answer a few questions about your health and lifestyle.
| Coverage range | $50,000 – $1,500,000 |
|---|---|
| Term lengths | 10, 15, 20, 25, 30 years |
| Issue age | 18 – 60 years |
★★★★★
Its rates are competitive with both term and permanent policies. However, the insurer usually requires a medical exam and charges an annual maintenance fee.
| Coverage range | $100,000 – $10,000,000 |
|---|---|
| Term lengths | 10, 15, 20, 25, 30, 35, 40 years |
| Issue age | 20 – 75 years |
★★★★★
The Better Business Bureau also rates State Farm an A+ rating for customer engagement. You can expect stellar customer service if you sign up with this insurer.
| Coverage range | $100,000 – $3,000,000 |
|---|---|
| Term lengths | 10, 20, and 30 years |
| Issue age | 18 – 75 years |
★★★★★
The insurer also speeds up approvals within a week for term or whole life policies with coverage under $500,000. Plus, the mutual company pays dividends from its profits.
| Coverage range | $100,000 – $20,000,000 |
|---|---|
| Term lengths | 10, 15, 20, 25, 30 years |
| Issue age | 18 – 60 years |
The application is straightforward and mobile-friendly. You enter your personal and contact details, then answer a few questions about your health and lifestyle. Haven Life's system uses the data to generate your rate.
| Coverage range | $100,000 – $3,000,000 |
|---|---|
| Term lengths | 10, 15, 20, or 30 years |
| Issue age | 18 – 64 years |
★★★★★
If you need high coverage, its death benefits top out in the tens of millions.
| Coverage range | $100,000 – $25,000,000 |
|---|---|
| Term lengths | Any term length between 10 years and 20 years |
| Issue age | 18 – 90 years |
★★★★★
It also offers a no-exam option if you want to skip the physical or are getting deployed. But Navy Mutual could work on its customer service and offer more riders.
| Coverage range | $10,000 – $1,000,000 |
|---|---|
| Term lengths | 5 to 30 years |
| Issue age | 18 – 85 years |
To find a policy that suits your situation and budget, ask these questions.
If none of these companies are the right fit, try drilling down to a specific category:
The insurers on this list stand out for their policy lineups, customizable coverage or catering to specific people. They’re also backed by strong financial and customer service ratings.
It pays to do your own research and compare life insurance companies.
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