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.
Best life insurance company overall
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.
Pros
Sells term, whole, universal and guaranteed acceptance policies.
Offers up to $10 million in coverage.
Potentially boost your take-home earnings if you buy a permanent policy.
Enhance with riders like an accelerated death benefit or long-term care.
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.
Pros
Term or universal life insurance up to $1,000,000 with no exam
13 riders to customize your policy
Affordable rates compared to competitors, especially for seniors
High-risk applicants with risky hobbies or health issues considered
A.M. Best: A+, Standard and Poor's: AA-, Moody's: A1
Customer Service Options
Phone, Online
Issue Age
18 to 60
Coverage
$100,000 to $1,000,000
Medical Exam Required
Depends on policy
Best whole life insurance
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.
Pros
Offers a survivorship policy that insures two people, like spouses.
Some policies are linked to an index's performance, like the S&P 500.
Has a long list of riders, like accidental death or waiver of premium.
Cons
No online quotes
Strict underwriting isn't ideal for people with poor health
Pushy marketing toward more expensive, unneeded policies
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.
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.
Pros
Offers up to $1 million in coverage.
Specializes in term and universal life insurance
Offers a $15,000 final expense policy with guaranteed approval.
Widen your coverage with conversion, disability or child riders.
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.
Pros
Sells term, whole, universal and survivorship policies.
Offers a network of 19,000 local agents across the country.
Issues policies with a face value up to $3 million.
Cons
Strict underwriting
No variable universal life insurance
High rates if you're in poor health
Free Quote
Online
Insurance Products
Term, Whole, Universal
Issue Age
18 to 75
Coverage Amount
$100,000 to $3,000,000
Term Lengths
10, 20, and 30 years
Medical Exam Required
Depends on policy
Ways To File A Claim
Phone, Online.
Ratings, Accreditation and Memberships
AM Best: A++
Customer Service Options
Phone, Online
Issue Age
18 to 75
Coverage
$100,000 to $3,000,000
Medical Exam Required
Depends on policy
Best for high net worth individuals
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.
Pros
Offers a variety of policy types
Choose from 10, 15, 20, 25 or 30 terms.
Customize with accidental or accelerated death benefits, premium waiver or other riders
No-exam policies available for $500,000 coverage or less
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.
Pros
All policies issued by parent company, MassMutual.
Offers term life coverage up to $3 million.
Lets you add an accelerated death benefit or waiver of premium rider.
No medical exam necessary for most policies.
Cons
Limited options
Strict underwriting
Online application only
Free Quote
Online
Insurance Products
Term
Issue Age
20 to 64
Coverage Amount
$250,000 to $3,000,000
Term Lengths
10, 15, 20, 25 or 30 years available to those aged 20 - 49 years old. 10, 15, or 20 years available to those aged 50 - 64 years old.
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.
Pros
Term lengths stretch from five to 20 years.
You can convert term to permanent life later
Offers guaranteed universal life policies up to age 85.
Policies start at $25,000 if you need low coverage
Cons
Term lengths capped at 20 years instead ot the standard 30 years
No online quotes
only agents can finalize your application
Free Quote
Phone, Online
Insurance Products
Term, Whole, Universal, Variable
Issue Age
18 to 90
Coverage Amount
$100,000 to $25,000,000
Term Lengths
Any term length between 10 years and 20 years
Medical Exam Required
Yes
Ways To File A Claim
Online, Phone, Mail
Ratings, Accreditation and Memberships
A.M. Best: A++ Fitch: AAA Standard & Poor's AA+ Moody's: AA
Customer Service Options
Phone, Email
Issue Age
18 to 90
Coverage
$100,000 to $25,000,000
Medical Exam Required
Yes
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.
Pros
Your coverage can stay in effect if you leave the military.
Sells term life policies spanning five to 30 years.
Issues whole life policies up to $1 million.
No restrictions for military service, including hazardous duty and aviation.
Cons
Limited customer service
No live chat
Strict health conditions
Discrepancy in rates
Free Quote
Online
Insurance Products
Flex Term, Express Term Plus, Level II Plus, Flagship Whole Life
Issue Age
18 to 85
Coverage Amount
$10,000 to $1,000,000
Term Lengths
5 to 30 years
Medical Exam Required
No
Ways To File A Claim
Phone: 800-628-6011 or 703-945-1440, Online form
Ratings, Accreditation and Memberships
BBB: A+
Customer Service Options
Phone: 1-800-628-6011 or 703-945-1440, Email: CustomerService@NavyMutual.org
Issue Age
18 to 85
Coverage
$10,000 to $1,000,000
Medical Exam Required
No
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.
Do I have a pre-existing condition? A pre-existing health condition is a disease or illness you had before applying for life insurance coverage. While a pre-existing medical condition can make it more challenging to find the level of coverage you seek, some companies will assess your risk factors and offer the right amount of coverage within your budget.
Best life insurance options after leaving the service
As a member of the Army, Navy, Air Force, Coast Guard or Marines, you’re automatically covered under the Servicemembers’ Group Life Insurance (SGLI) program. But when you leave the armed services, that coverage expires. These are the paths you can take to get coverage when you’re no longer in the military:
1. Convert SGLI to VGLI
You can keep the life insurance policy you had as an active-duty military member by converting to Veterans Group Life Insurance (VGLI). The timing is important. If you want to hold onto your benefits without going through the underwriting process, you’ll need to apply for VGLI within 240 days of leaving the service. After that, you will need to take a medical exam — and might be given higher rates or denied coverage as a result.
This option completely expires 485 days after you leave the military.
Since VGLI forgos the medical exam for the first 240 days, it’s best suited to veterans who have medical conditions that might otherwise disqualify them for coverage. This includes PTSD, disabilities, and neurological conditions. VGLI is also a solid choice for veterans in their 60s or above, who might pay a much higher premium with private life insurance.
2. Purchase private life insurance
If you opt to purchase a policy on your own, you have more control over your coverage. You can choose a term or permanent policy, and decide how much coverage you want to buy based on your family’s needs.
But to avoid any gaps in coverage, apply for a policy as soon as possible. Depending on your insurer, it can take between three and weeks to go through the underwriting process — or even longer if you have a complex medical history.
For example, if you’ve been diagnosed with post-traumatic stress disorder (PTSD), your insurer might want proof that you’re working on improving the condition. This could include providing prescriptions for medication, or listing any therapy or treatments you’re undergoing.
Can I keep SGLI if I’m disabled?
If you’re totally disabled at the time of discharge, you can apply to keep your SGLI coverage for two years after your service separation date. The scheme is called Servicemembers’ Group Disability Extension (SGLI-DE), and it’s available from the VA.
If the VA has given you a service-connected disability rating, you might be eligible to receive Service-Disabled Veterans Insurance (S-DVI). This provides $10,000 in coverage. And if you qualify for a waiver of premium, you can apply for the Supplemental S-DVI program, which offers an additional $30,000 in coverage.
Can a non-resident or non-citizen get life insurance in the US?
Yes. Your non-citizen status shouldn’t keep you from getting life insurance, although you might have to pay your annual premiums up front. And while your coverage options may depend on your resident classification, circumstances and country of origin, several insurance carriers are ready to work with you on a policy to provide coverage while you live in the US.
How your resident status affects life insurance
Insurance companies typically categorize your application and the rules surrounding your premium based in part on your resident classification. This shows the ties to your life in the US — or more accurately, how long you plan to stay and your interest in doing so.
Green card holders
As a permanent resident, you are treated the same as a US citizen for life insurance purposes. But as with all the details on your application, you should be honest about your classification.
Non-student visa holders
Visa holders can sometimes get life insurance, but you’ll face limited coverage offerings and hurdles throughout the application process.
Country of origin. Your country may prevent you from buying life insurance in another country, and the US government has placed restrictions on residents of specific countries, which could make you ineligible to buy life insurance from a US company.
Limited options. Depending on the insurance carrier, you may be limited to only purchasing permanent life insurance, and some companies require you to buy at least a $250,000 policy.
Visa requirements. Each company will have a list of the visa types that it accepts.
Residency requirements. The longer you’ve lived in the US, the more life insurance options are open to you. If you’ve lived in the US for less than a year, you may have trouble finding coverage, but it’s still possible.
Student visa holders
It can be much harder to get life insurance as a student, because student visas are temporary, and students usually lack business or work ties to the communities where they live. Additionally, your amount of life insurance coverage is tied to your income. If your income is too low, you may not qualify to purchase the minimum amount of coverage required for non-citizens, which is usually $250,000.
Children with citizenship
If you’re a non-citizen, having a child who is a US citizen can increase your chances of finding a life insurance policy, because that establishes your significant interest in staying in the US.
Does it matter which country I’m from?
Yes. Both the laws of your country and the US can prevent you from purchasing life insurance. There are also some states, provinces and territories within countries that allow or disallow purchase of US life insurance.
Countries that disallow purchase of US life insurance
Countries the US Government disallows from buying US life insurance
Argentina
Afghanistan
Belgium
Cambodia
France
Colombia
Greece
Cuba
Japan
Haiti
Panama
Iraq
Poland
Lebanon
Switzerland
Myanmar
Uruguay
North Korea
Venezuela
Russia
Sudan
Additionally, life insurance companies use letter ratings to assign risk classifications to countries of origin:
“A” countries. Applicants from these countries have the most life insurance options available to them, similar to if they were US citizens.
“B” countries. Applicants qualify for a slightly lower rating than from A countries, but still have most options available to them.
“C” countries. Applicants may need to go through an agent or broker to find the best options, and many insurers won’t offer policies to non-citizens from these countries. Also, you most likely won’t be able to buy term life insurance.
“D” countries. Life insurance isn’t impossible for applicants from these countries, but it can be difficult to obtain — and you’ll have to show highly significant financial ties to the US to qualify.
More top life insurance companies
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.
Get quotes from even more life insurance companies
Narrow down top life insurance policies by issuer age, minimum coverage and more to find the best for your budget and financial goals. Select Compare for up to four products to see their benefits side by side.
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.
Katia Iervasi is a lead writer and spokesperson at NerdWallet and a former editor at Finder, specializing in insurance. Her writing and analysis on life, disability and health insurance has been featured in The Washington Post, Forbes, Yahoo, Entrepreneur, Best Company and FT Advisor. She holds a BA in communication from Australia's Griffith University.
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