The 5 best life insurance companies in the United States in 2019

Standout life insurance providers and what they offer potential policyholders.

Explore our top picks for life insurance across five categories that include term insurance, whole insurance and insurance for applicants ages 60 or older. Read our methodology.

Best life insurance providers

Best term life insurance: TIAA

TIAA is among the highest-rated insurance companies in the US, its financial strength earning a superior rating from A.M. Best and a very strong rating from Standard and Poor’s. It’s among the Ethisphere Institute’s 2017 list of the World’s Most Ethical Companies. TIAA offers nationwide term, whole and universal life insurance with the following perks:

• Terms with guaranteed premiums

  TIAA’s term life insurance comes in 10-, 15-, 20- and 30-year terms with guaranteed premiums across the life of your term and coverage of up to $5 million available.

• Guaranteed renewability

  Convert your term life insurance to a permanent policy at any time during your term without penalty or restriction.

• Convert without a medical exam

  As long as you convert your insurance before age 80, you won’t need to complete additional forms or undergo a medical exam to secure your continued coverage.

Best whole life insurance: Guardian

This nationwide provider boasts that it’s one of the largest mutual life insurers in the US, announcing record earnings and capital in 2017. Those earnings have allowed Guardian to pay dividends to its eligible policyholders annually since 1868. Its cash-building whole life insurance is backed by solid industry ratings, and riders allow you to extend protection for chronic illness or disability. Other highlights include:

• 8 cash value options

  Guardian offers eight cash-accumulation options to its customers.

• Guaranteed premiums

  Your premium remains the same over the life of your policy. A portion of your premium is contributed to the policy’s cash value, which you can use to borrow against the policy if needed.

• Pays dividends

  Guardian offers participating whole life policies, which means eligible policyholders may receive annual dividends and tax-deferment options.

Best for people ages 60 or older: Mutual of Omaha

Go to Mutual of Omaha's site

Mutual of Omaha offers a suite of insurance products that include term life policies of 10 to 30 years and guaranteed cash-building permanent life insurance. New policies are available for ages up to 74 years and terms last to age 80. Additional benefits include:

• Guaranteed tax-deferred death benefit

  With Mutual of Omaha’s Life Protection Advantage, the death benefit of your policy can be guaranteed past 85 years old with on-time payments.

• No medical exam options

  Opt for whole life insurance with this provider for guaranteed coverage of up to $25,000 with no medical exam.

• Flexible coverage

  If your life circumstances change, customize your permanent life insurance coverage to fit your needs by altering the amount of your premium and death benefit.

Best for customization: Northwestern Mutual

When it comes to customizing your policy, Northwestern Mutual offers a range of riders for highly flexible and versatile coverage. Fortune magazine’s includes the insurer in its January 2019 list of the World’s Most Admired Companies, which ranks corporate reputation. Here are the standout features:

• 15 available riders

  Northwestern offers 15 policy riders to extend your coverage — including riders for critical illness, accidental death and disability income. Availability depends on your policy and personal circumstances.

• Multiple policy guarantees

  Guaranteed level premiums for whole life insurance and guaranteed policy conversions from term to whole life make insurance options with this provider all the more attractive.

• $25,000 entry point

  While other providers may start their coverage at $50,000 or more, Northwestern’s policies start at $25,000 and extend into the tens of millions.

Best reputation: State Farm

State Farm stands as one of the largest insurance providers in the US, supported by more than 19,000 nationwide agents and powerful financial-strength ratings. Policies build cash value, and you may be eligible for one of its multiple discounts. Additional perks include:

• Outstanding ratings

  State Farm is one of the highest rated life insurance providers in the US. It earns an A.M. Best rating of A++, a J.D. Power and Associates score of 825 and a BBB rating of A-.

• Online quotes

  Some providers offer quotes by phone only. State Farm streamlines the process with an online quote application process.

• Final expense insurance

  State Farm offers a guaranteed issue policy called Final Expense Life Insurance for those ages 50 to 80. Policies pay a fixed $10,000 death benefit and come with guaranteed premiums.

How to compare life insurance providers on your own

Finding a policy that works for your situation requires identifying your personal must-haves in advance so you can advocate for yourself while shopping around. Ask yourself:

• What’s the coverage range? Different providers offer different ranges of coverage. While some policies start at $50,000, others may top out at this same figure. Determine how much coverage you’re interested in and make sure the provider you select can account for your needs.
• Should I opt for term or permanent insurance? Term life is often more affordable than permanent life but only lasts for a set period of time. It also lacks many of the perks of permanent insurance, such as built in cash value and dividend eligibility.
• Am I required to take a medical exam? Your provider may ask you to fill out a medical questionnaire or undergo a medical exam during the application process. If you’re concerned about a pre-existing condition, you can find coverage that doesn’t require an exam, but this type of coverage is often more expensive.
• When are my premiums due? Many policy premiums are paid monthly, but you may be able to opt for annual or semiannual payments to pare down your payment schedule. Some providers offer a discount for paying on an annual or semiannual basis.
• What policy riders are available? Policy riders can be added to your policy to customize and augment your coverage depending on your personal needs. Ask your provider what riders are available and what the cost is to have a rider added to your policy.

Explore more of the best brands in life insurance

Why we like:

Term life insurance with no policy fees and the freedom to cancel anytime. Simple application process that can get you approved for coverage instantly.

• Apply online and get a decision instantly
• Cancel your coverage at any time
• No annual fees

Why we like: LadderLife™ Life Insurance

Term life insurance with no policy fees and the freedom to cancel anytime. Simple application process that can get you approved for coverage instantly.

• No brokers trying to upsell you
• Your rate is locked in until your term expires
• 30 day money-back guarantee

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Name	Product	Issue Ages	Coverage Range	Medical Exam Required
LadderLife™ Life Insurance		20 to 60 years old	$100,000 to $8,000,000	No	Term life insurance with no policy fees and the freedom to cancel anytime. Simple application process that can get you approved for coverage instantly.	Go to site More Info	Compare	loading Fetching your data...
JRC Life Insurance		20 - 80 years old	$25,000 to $10,000,000	No	Quickly get a quote for coverage with this marketplace, which compares term & whole life insurance policies from 45+ carriers.	Go to site More Info	Compare	loading Fetching your data...
Bestow		21 - 54 years old	$50,000 to $1,000,000	No	Affordable 2-, 10- and 20-year term life insurance policies. Instant quotes and no medical exams.	Go to site More Info	Compare	loading Fetching your data...
Policygenius		18 - 85 years old	$10,000 to $10,000,000+	Depends on provider and policy	Compare quotes from 16 life insurance companies side by side.	Go to site More Info	Compare	loading Fetching your data...
Fidelity life insurance		20 - 85 years old	$100,000 to $1,000,000	Depends on policy	Get a term or whole life insurance quote from Fidelity Life - starting as low as $15/day.	Go to site More Info	Compare	loading Fetching your data...
Leap Life		18 - 75 years old	$100,000 to $5,000,000	Depends on provider and policy	Apply for a simple instant-decision policy free of charge. Compare quotes from multiple A-rated carriers.	Go to site More Info	Compare	loading Fetching your data...
Quotacy		18 - 80 years old	$50,000 to $25,000,000	Depends on provider and policy	Get a quote within minutes from more than a dozen insurers.	Go to site More Info	Compare	loading Fetching your data...
Ethos Term Life Policies		18 - 75 years old	$25,000 to $10,000,000	Yes, for policies over $1 million	Term life insurance with no medical exams for $1 million of coverage or less. Online application gets you a decision in 10 minutes.	Go to site More Info	Compare	loading Fetching your data...
Simplified Life		18 - 80 years old	$25,000 to $10,000,000	Depends on provider and policy	Compare quotes from over 40 highly rated carriers and get coverage shortly after approval.	Go to site More Info	Compare	loading Fetching your data...
Haven Life		18 - 64 years old	$100,000 to $3,000,000	No	Customized term life insurance policies up to $3 million, no medical exam required.	Go to site More Info	Compare	loading Fetching your data...
Navy Mutual		18 to 85 years old	$10,000 to $1,000,000	No	Affordable life insurance for active duty, reserve, and retired United States military service members. Get a free quote online.	Go to site More Info	Compare	loading Fetching your data...

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Bottom line

Choosing a life insurance policy may feel overwhelming, but there are plenty of standout providers with unique benefits to offer.

Whether you’re drawn to top notch customer feedback, rider add-ons or policy guarantees for more peace of mind, review your life insurance options with multiple providers before you apply.