Best term life insurance companies

Term life insurance is the most straightforward policy on offer. It lasts for a set period of time — the term — and pays your beneficiaries if you die during that time. It’s a popular product, and these insurers stand out for their appealing policy features.

When analyzing life insurance providers, we weigh the insurer’s product lineup, riders and rates along with their underwriting standards. And to determine industry reputation, our editorial team assesses the company’s financial strength ratings, accreditations and customer reviews.

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Best overall pick: Prudential

Finder Rating: 3 / 5

★★★★★

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$100,000 – $10,000,000
Coverage range

18 – 75 years
Issue age

10, 15, 20, 30 years
Term lengths

• Info
• Features
• Details

Term life insurance is the simplest form of coverage, but Prudential caters to its customers' unique needs by offering six different policies. Along with standard term life plans, it has a return of premium policy that reimburses you for any premiums paid if you outlive your term. It also sells annual renewable term life coverage, and a PruTerm WorkLife policy to help policyholders to prepare for retirement.

• Every policy has level premiums to allow for easy budgeting.
  
• Choose a term length of 1, 10, 15, 20 or even 30 years, which is somewhat rare
  
• Customize your policy with add-ons, such as a serious illness, disability, accidental death benefit and waiver of premium rider.
  

Coverage range	$100,000 – $10,000,000
Term lengths	10, 15, 20, 30 years
Issue age	18 – 75 years

Best for small coverage amounts: Transamerica

Finder Rating: 3 / 5

★★★★★

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$25,000 – $10,000,000
Coverage range

18 – 75 years
Issue age

10, 15, 20, 25, 30 years
Term lengths

• Info
• Features
• Details

Most insurers require you to purchase a policy worth at least $100,000. But with Transamerica, you can buy as little as $25,000 in coverage. This lower entry point makes it one of the more affordable options for term life insurance.

Transamerica's term life plans are convertible and available in terms of 10, 15, 20, 25 and 30 years. This is rare — many insurance companies cap their term life insurance policies at 20 years. Finally, Transamerica offers flexible death benefit options: Choose between a level, increasing or decreasing term.

• Sells term life policies in five-year increments, with coverage up to $10 million.
  
• All policies are convertible to whole life insurance up until a deadline.
  
• Offers living benefits, such as an accelerated death benefit rider.
  

Coverage range	$25,000 – $10,000,000
Term lengths	10, 15, 20, 25, 30 years
Issue age	18 – 75 years

Best for no medical exam policies: Lincoln Financial Group

Finder Rating: 4 / 5

★★★★★

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$100,000 – $1,000,000
Coverage range

18 – 60 years
Issue age

10, 15, 20, 30 years
Term lengths

• Info
• Features
• Details

If you need a larger policy but want to skip the medical exam, Lincoln Financial is one of the more generous insurers. It issues up to $1 million in term life insurance without a medical exam, and allows policyholder to convert their coverage to a permanent policy later down the track. The insurer offers coverage in 10-, 15-, 20- and 30-year term lengths.

• Approves traditional policies in a two-week time frame.
  
• Lenient underwriting for high-risk applicants, like seniors, smokers and those who are overweight.
  
• Has a long list of riders, including an accelerated death benefit and value protection rider.
  

Coverage range	$100,000 – $1,000,000
Term lengths	10, 15, 20, 30 years
Issue age	18 – 60 years

Best for keeping up with inflation: Amica

Finder Rating: 3.5 / 5

★★★★★

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$5,000 – $1,000,000
Coverage range

15 – 75 years
Issue age

10, 15, 20, 25 and 30-year
Term lengths

• Info
• Features
• Details

Amica made waves in the term life insurance market with its Cost of Living Adjustment rider. Usually only available with permanent policies, the rider continually adjusts your policy's death benefit to align with inflation.

While you pay the same premium each month or year, the face value of your policy rises. If you die during the term, your beneficiaries receive a payout that mirrors the current market conditions.

• Offers annual renewable term life insurance as well as standard policies with level premiums.
  
• Ability to convert to a whole life policy within the first 10 years.
  
• Issues policies valued between $100,000 and $1 million.
  

Coverage range	$5,000 – $1,000,000
Term lengths	10, 15, 20, 25 and 30-year
Issue age	15 – 75 years

Best for convertibility: MassMutual

Finder Rating: 4 / 5

★★★★★

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$2,000 – $10,000,000
Coverage range

18 – 80 years
Issue age

10, 15, 20, 25, 30 years
Term lengths

• Info
• Features
• Details

While all of the policies on this list come with a convertibility feature, you could potentially boost your earnings even more by choosing MassMutual. It's a mutual company, and has paid out dividends to its permanent policyholders every year since the 1860s.

In 2019, it approved an estimated $1.72 billion payout — a record number. Since dividends aren't guaranteed, this is an impressive achievement — and one you might benefit from in the future.

• Offers term life insurance spanning 10 and 30 years.
  
• No-medical exam policy options
  
• Allows you to convert all or part of your coverage into a whole life policy without taking an additional medical exam.
  

Coverage range	$2,000 – $10,000,000
Term lengths	10, 15, 20, 25, 30 years
Issue age	18 – 80 years

Best life insurance companies customer reviews and reputation

To learn how insurers treat their policyholders, refer to the Better Business Bureau (BBB). New York Life, Lincoln Financial and Amica earn the highest possible rating with the BBB, while Transamerica, Lincoln Financial and MassMutual could improve when it comes to customer engagement.

Meanwhile, Prudential’s rating dropped to B- as they failed to respond to complaints in a timely manner.

Keep in mind these ratings and reviews reflect each company as a whole, and not just their life insurance departments.

Bottom line

Term life insurance is the simplest and cheapest policy, with predictable premiums and coverage that lasts for a set period of time. These insurers take it one step further by offering something that most of their competitors don’t, from flexible term lengths to smaller coverage amounts.

To see even more of the best life insurance companies, check out our overall top life insurance picks.

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Name	Product	Issue age	Minimum Coverage	Maximum Coverage	Term Lengths	Medical Exam Required
Policygenius		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.	Go to site More Info	Compare	loading Fetching your data...
Bestow		18 - 60 years old	$50,000	$1,500,000	10, 15, 20, 25, 30 years	No	Get a quote in less than 10 minutes with on-the-spot approval and no medical exam.	Go to site More Info	Compare	loading Fetching your data...
Everyday Life		20 - 75 years old	$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.	Go to site More Info	Compare	loading Fetching your data...
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.	Go to site More Info	Compare	loading Fetching your data...
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.	Go to site More Info	Compare	loading Fetching your data...
JRC Life Insurance		18 - 85 years old	$5,000	$50,000,000	10, 15, 20, 25, 30, 35, 40 years to lifetime/age 121	May be required	Compare policies up to $10 million from 45+ top insurance companies with the click of a button.	Go to site More Info	Compare	loading Fetching your data...
Nationwide life insurance		18 - 80 years old	$25,000	$10,000,000	10, 15, 20 and 30 years	Yes	Get term, whole, universal or no-exam life insurance with up to $1 million in coverage.	Go to site More Info	Compare	loading Fetching your data...
Haven Life		20 - 64 years old	$250,000	$3,000,000	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.	No exams for some applicants	Fill out a quick online application and get approval in minutes with up to $3 million in coverage.	Go to site More Info	Compare	loading Fetching your data...
Fidelity		20 - 85 years old	$25,000	$1,000,000	10, 20, or 30 years	Depends on policy	Purchase term, whole and accidental death coverage online without the exam, with rates starting at a low $10 a month.	Go to site More Info	Compare	loading Fetching your data...
Quotacy		18 - 80 years old	$50,000	$65,000,000	10, 15, 20, 30 and 40 years	Depends on provider and policy	Score the lowest rate on life insurance by comparing no obligation quotes from 14+ companies online. No contact info, no spamming.	Go to site More Info	Compare	loading Fetching your data...
Dayforward Life Insurance		18 - 67 years old	$12,000	$500,000	10, 27 years	No exams for some applicants	Dayforward allows you to protect your family with life insurance that protects your income.	Go to site	Compare	loading Fetching your data...
Fabric		21 - 60 years old	$100,000	$5,000,000	10, 15, or 20 years	Depends on policy	No-exam term policies up to $1 million online, with the option to upgrade to permanent life insurance later.	Go to site More Info	Compare	loading Fetching your data...

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