Best Universal Life Insurance Companies (2026)

Universal life insurance offers permanent coverage with the flexibility to adjust premiums and death benefits as your financial needs change. These policies also include a cash value component that can grow over time and be used to support long-term goals.

To identify the best universal life insurance companies, we evaluated policies from leading insurers based on premiums, financial strength, customer satisfaction, and coverage options. The best choice for you depends on how you balance affordability, protection, and long-term value.

To find the best universal life insurance policies, we carefully reviewed 20 life insurance providers based on pricing, policy flexibility, financial strength ratings, cash value growth potential, and customer satisfaction.

North American is the best universal life insurance company overall, combining competitive premiums, robust policy features, and strong financial stability. Protective Insurance is a top choice for applicants in poor health, while Ethos leads among indexed universal life options with competitive pricing and streamlined underwriting. For cost-conscious shoppers, Midland National offers the lowest average premiums for both men and women.

Rates based on averages for nonsmokers with average weight and health ratings. Actual premiums will vary depending on your individual profile, health status, coverage needs and insurer underwriting guidelines.

A universal life insurance policy provides permanent life insurance coverage. It pays a death benefit to your beneficiary and includes a cash value savings component. This cash value grows over time and can be used to fund premiums, take out loans or make withdrawals. You’ll receive the cash value minus surrender charges if you surrender the policy.

Pick the right universal life insurance policy by weighing cost against flexibility and long-term value. Focus on these factors when comparing providers and policies.

• Financial Strength Ratings: Choose companies with AM Best ratings of A or higher to ensure they can pay claims decades from now.
• Policy Flexibility: Look for options to adjust death benefits and premiums as your financial situation changes.
• Cash Value Growth: Compare interest rates, crediting methods and fee structures that affect how quickly your cash value accumulates and compounds over time.
• Rider Availability: Evaluate policy riders and other add-ons like accelerated death benefits, chronic illness riders and guaranteed insurability options that provide extra protection.
• Customer Service: Review complaint ratios from state insurance departments and J.D. Power satisfaction scores.
• Premium Costs: Compare life insurance quotes from at least three insurers to find competitive rates.

Universal life insurance costs vary widely based on age, health, coverage amount and policy type. A 40-year-old buying $500,000 in coverage pays around $294 monthly or $3,528 annually. Double that coverage to $1 million and premiums jump to $588 monthly. Because universal life combines lifelong coverage with cash value accumulation, it costs more than term life insurance but offers flexibility to adjust premiums and death benefits over time. 

Indexed universal policies cost more than standard versions due to their market-linked growth potential. The table below shows average costs by coverage amount and demographics:

The rates above are based on averages for buyers with average weight and health ratings. Actual premiums vary depending on your profile and coverage needs.

We answer common questions about universal life insurance to help you determine the best policy for your needs.

Universal life insurance shopping means sifting through dozens of companies, each promising competitive rates and flexible coverage. The challenge isn't finding options; it's identifying which insurers actually deliver affordable premiums, reliable claims processing, and the policy flexibility that drew you to universal life in the first place.

We designed our research to cut through marketing claims and focus on what actually matters when you're comparing universal life policies. Our analysis examined 248,399 life insurance quotes alongside customer satisfaction data, financial stability reports, and product offerings to identify which companies deliver the best combination of value and reliability.

Our Scoring Framework
MoneyGeek ranked the top universal life insurance companies using the following weightings:

• Affordability (55%)
• Customer Experience (30%)
• Coverage Options (15%)

Each company's final score incorporates cost data from online quotes, AM Best financial strength ratings, years in business, NAIC customer complaint index data, and availability of tools like online account management and flexible payment options.

Sample Customer Profile

Unless otherwise stated, the rates shown in this article use this standard profile:

• 30- to 49-year-old
• Nonsmoker
• 5'9" tall, 160 pounds for male
• 5'4" tall, 120 pounds for female
• Average health rating
• $500,000 coverage

We adjusted age, health, weight and smoking habits on this baseline profile to see what different customers actually pay. The patterns told us which insurers charge less across the board and helped us estimate what you'd pay based on your situation.

These pricing trends mean we can show you more than raw quote data. You'll understand how your premiums shift when you age, gain weight or quit smoking.