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Best life insurance companies for 2022

Compare the 10 best life insurance companies to find the best policy for you.

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.

How did we choose these picks?

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.

What’s changed in 2021?

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.

Can I still get life insurance during the coronavirus?

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.

Best life insurance company overall

PROMOTED

MassMutual

Finder rating 3.5 / 5 ★★★★★

One of the biggest US life insurance companies, MassMutual edges out most competitors with its policy options, coverage amounts and customization.
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.

Best term life & riders

PROMOTED

Lincoln Financial Group

Finder rating 3.5 / 5 ★★★★★

Lincoln Financial offers generous no-exam term life policies with coverage up to $1 million, or $10 million if you take an exam. Few insurers can match this coverage.
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.

Best whole life insurance

PROMOTED

Guardian

Finder rating 4.5 / 5 ★★★★★

This insurance giant offers eight whole life policies, all of which build cash value with the potential to earn dividends. Each policy also offers different payment structures.
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.

Best no-exam life policies

Bestow

Finder rating 4 / 5 ★★★★★

Go to site
on Bestow Life Insurance's secure site
Bestow offers no-frills term life policies, which are perfect for people on a budget and those who don't want to customize their policy with riders.
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.

Best for lenient underwriting

PROMOTED

Legal & General

Finder rating 4 / 5 ★★★★★

Some insurers shy away from high-risk applicants like seniors or smokers — but not Legal & General, previously Banner Life.
Its rates are competitive with both term and permanent policies. However, the insurer usually requires a medical exam and charges an annual maintenance fee.

Best customer reputation

State Farm

Finder rating 4 / 5 ★★★★★

State Farm topped J.D. Power's 2019 customer satisfaction ratings for the fifth year in a row. J.D. Power reviews top insurers' customer support as well as their timely responses to questions and complaints.
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.

Best for high net worth individuals

PROMOTED

SBLI

Finder rating 4.5 / 5 ★★★★★

SBLI offers term, whole, final expense and no-exam policies, and its coverage can go up to $10 million.
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.

Best buying experience

Haven Life

Finder rating 4.5 / 5 ★★★★★

Go to site
on Haven Life's secure site
Backed by MassMutual, Haven Life made a splash in the market with instant term life policies sold online at affordable rates. Your coverage can be effective immediately.
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.

Best senior life insurance

New York Life

Finder rating 4.5 / 5 ★★★★★

An industry giant, New York Life offers a strong policy lineup to people aged 60 or above, breaking down barriers to high rates and low coverage for seniors.
If you need high coverage, its death benefits top out in the tens of millions.

Best military and veteran life insurance

Navy Mutual

Finder rating 4 / 5 ★★★★★

Navy Mutual erases the typical military and war clauses from other policies, catering to active duty, reserve and retired military as well as honorably discharged veterans.
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.

How do I choose the best life insurance company for me?

To find a policy that suits your situation and budget, ask these questions.

  • How much coverage can I buy? Some insurers cap their coverage at $500,000, while others will offer policies worth millions if you meet the criteria.
  • Can I add riders to my policy? If customizing your coverage with add-ons like an accelerated death benefit rider is important to you, look for an insurer that offers robust riders.
  • Do I need to take a medical exam? Most policies require a basic physical medical exam. But if you’d prefer not to take one, you can explore no-exam policies.
  • What term lengths are available? Depending on the insurer, you may be able to get coverage for as little as one year, or as long as 30 years.
  • How much is it? Get quotes from multiple insurers to determine which company can offer you the policy you need at the best price.
  • How flexible is my policy? Life insurance is designed to evolve as your needs change, so check if you can purchase more coverage or convert to a policy later on.
  • What kind of service should I expect? Your life insurance company should have a reputation for being responsive and transparent.

More top life insurance companies

If none of these companies are the right fit, try drilling down to a specific category:

Bottom line

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.

Get quotes from even more life insurance companies

Name Product Issue age Minimum Coverage Maximum Coverage Term Lengths Medical Exam Required
Policygenius - Life Insurance
18 - 85 years old
$50,000
$10,000,000
10, 15, 20, 25, 30 years
Depends on provider and policy
Compare 12+ top insurers side-by-side to get the best possible deal, and shop return of premium policies online.
Ladder
20 - 60 years old
$100,000
$8,000,000
10, 15, 20, 25 or 30 years
No, for coverage up to $3M
Apply for term life insurance online without the medical exam. Get an instant decision and adjust your coverage at no charge.
Sproutt
18 - 60 years old
$50,000
$4,000,000
5, 10, 15, 20, 25 and 30 years
No
Compare 40+ insurers and apply online to get the lowest possible price — no medical exam required.
Everyday Life
18 - 70
$100,000
$10,000,000
10, 15, 20, 25, 30, 35 and 40 years.
No
Ladder multiple life insurance policies to save on the coverage you need for all your debts.
Bestow
18 - 60 years old
$50,000
$1,500,000
10, 15, 20, 25, 30 years
No
Get a quote and apply.
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Compare up to 4 providers

Life insurance ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

Our experts analyze life insurance companies to help you to find the strongest possible policy and premium for your family’s needs. We assess their financial strength, customer satisfaction, policy features and riders. We then give each insurer a score between one and five stars that reflects their offering and reputation in the industry.

Learn more about our methodology here.

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