Legal & General, Assurity, Lincoln Financial, Pacific Life and Ethos offer the best family life insurance policies.
Find out if you're overpaying for life insurance below.
Updated: October 30, 2025
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Based on MoneyGeek's analysis, Legal & General and Assurity are the best overall providers for family life insurance. Legal & General ranks first for male parents with a MoneyGeek score of 95, while Assurity is the top provider for female parents with a MoneyGeek score of 94.
Lincoln Financial ranks highest for affordability, offering family life insurance policies at just $20 monthly for women and $25 monthly for men on average.
Pacific Life leads in coverage options for families, offering term, universal, indexed universal, variable universal and survivorship universal life policies with multiple rider options, including children's term.
Ethos is the top choice for families seeking the best customer experience. The company offers an easy application process and additional online resources that can benefit families.
Legal & General is the overall best life insurance provider for male parents, while Assurity is the best insurer for female parents.
Companies excel in different areas. Some offer lower rates, others focus on customer service. Compare the top family life insurance providers by category:
Legal & General | Male Parents | 95 | $30 | $357 |
Assurity | Female Parents | 94 | $23 | $271 |
Lincoln Financial | Affordability | 90 | $20
| $236 |
Pacific Life | Coverage Options | 94 | $30 (men) | $357 |
Ethos | Customer Experience | 91 | $32 | $385 |
*Rates are based on quotes for a 20-year term life insurance policy for a 30-year-old nonsmoker with $500,000 coverage amount. We used average weight and health ratings. Individual rates will vary depending on your coverage needs, age, health status and state regulations. Rates shown are estimates based on our survey methodology and may not reflect actual quotes available to you. Contact licensed insurers directly for personalized quotes.
Legal & General is the top-rated life insurance company for male parents, with a MoneyGeek score of 95 out of 100 and rates averaging $30 per month for a $500,000, 20-year term policy. The company offers term coverage up to $10 million to applicants ages 20 to 75.
Standout features include an accelerated death benefit rider, a stacking rider to extend the term for life events, a guaranteed insurability rider and conversion of term policies to permanent policies up to age 70.
Legal & General's child rider covers eligible children up to the day before their 25th birthday or the insured's 65th birthday, with coverage options of $5,000 and $10,000.
Assurity is the best life insurance provider for mothers, combining affordability and strong policy flexibility. For a 30-year-old nonsmoking woman, the average cost of a $500,000, 20-year term policy is $23 per month ($271 annually).
The company offers term coverage up to $10 million with riders including accelerated death benefits, return of premium, accident-only disability income, critical illness, disability income and level term. Female parents can add a child rider that lasts until the child's age 25.
Lincoln Financial offers families the cheapest life insurance policy, with a $500,000, 20-year term policy averaging $20 per month for women and $25 for men.
The company offers term life insurance for 10 to 30 years, with a maximum coverage of $5 million and no-exam policies with up to $1 million coverage.
Lincoln Financial's child rider provides coverage up to $15,000 until the youngest child's age 25 or the insured's age 65, whichever comes first.
Pacific Life offers the most comprehensive coverage options for families, with more than $10 million in term protection available and up to $3 million through accelerated underwriting for younger applicants. Monthly, a 30-year-old nonsmoking parent pays $27 (women) and $30 (men) for a $500,000, 20-year term policy.
Flexible riders like waiver of premium, accidental death benefit, guaranteed insurability and conversion options make Pacific Life well-suited for families wanting customizable financial protection.
Pacific Life's child term rider provides coverage of up to $20,000 per child until the child's 25th birthday or the insured's 65th birthday.
Ethos offers the best customer experience for families seeking life insurance coverage through a digital-first platform. Applicants can get coverage up to $3 million without a medical exam and extend coverage with an accelerated death benefit rider for critical, chronic and terminal illnesses.
Monthly, 30-year-old nonsmokers with a 20-year term policy and $500,000 coverage pay $32 (women) and $43 (men).
Ethos provides free estate-planning resources, including guides for wills and trusts.
Selecting the right life insurance policy for your family means matching coverage to your financial goals, budget and timeline. Use this table to quickly compare life insurance plan types:
Low | Usually 10–30 years | No | Young families, mortgages | |
High | Lifetime | Yes | Estate planning, lifelong needs | |
Mid–High | Lifetime, flexible | Yes | Families with fluctuating income | |
High | Lifetime | Limited | Health issues, no exam | |
Very High | Lifetime | Limited | Last resort, final expense |
Life Insurance rates vary by age, health, lifestyle, coverage amount and type. For 20-year term policies with $500,000 coverage, parents pay an average of $65 to $70 monthly. Adding a $10,000 child rider costs $5 to $10 monthly, bringing total costs to $70 to $75 monthly.
Monthly | $36 | $29 | $5-$10 | $70-$75 |
Annual | $428 | $351 | $60-$120 | $839-$899 |
*Costs for male and female parents are based on quotes for 30-year-old nonsmokers with average weight and health ratings. Individual rates will vary depending on your coverage needs, age, health status and state regulations. Contact licensed insurers in your state for personalized quotes that reflect your local requirements.
Life insurance riders extend your base policy to cover additional family members or provide enhanced benefits, offering cost-effective ways to protect your entire family under one policy.
Spouse riders add term life coverage for your husband or wife at 25% to 100% of your base policy amount. You'll pay less than buying two separate policies, and the rider ends if you divorce or your primary policy lapses.
Child riders provide modest coverage (usually $10,000 to $25,000) for all your children under one rider, regardless of how many kids you have. Most insurers cover children from birth to age 25. The biggest advantage is guaranteed insurability. Your child can convert this coverage to their own permanent policy without medical underwriting when they reach adulthood.
This rider pays a monthly income to your beneficiaries instead of a lump sum, replacing your paycheck for a specific period. It's valuable for families with young children needing steady income for living expenses and education costs.
Family life insurance provides financial protection for your entire family through individual policies for each parent with child riders, joint policies covering both spouses or a combination approach based on your family's specific needs. We analyzed life insurance quotes and offers to determine the best family providers. These premiums serve as baselines for family life insurance. Actual rates may differ since family life insurance includes riders for spouses or children.
Legal & General, Assurity, Lincoln Financial, Pacific Life and Ethos offer some of the best family life insurance plans. Compare offers and prices to find the best policy and provider for your needs.
Questions about the best life insurance for families? We answers them.
You can't cover multiple family members under a single life insurance policy. Each person needs an individual policy, but riders can provide limited coverage for dependents. A child rider covers all children under one rider, while a spouse rider adds smaller coverage for a partner. Riders are less expensive than separate policies but offer lower benefit amounts.
Both parents should have coverage, even if one doesn't earn income outside the home. The primary earner needs at least 10 times annual income in coverage to replace lost earnings. Stay-at-home parents should carry $250,000 to $500,000 of coverage to account for childcare and household services. Dual-income families should align coverage amounts with each parent's contribution.
The average cost of life insurance varies, but getting life insurance for each family member can be costly and unnecessary. While you can cover each family member, it's not worth it and could strain your budget. The best approach is insuring the person whose income the family depends on most, which could be one or both parents.
Consider your personal and family circumstances, each member's health and your coverage needs to determine if individual coverage works.
Parents should prioritize their own coverage before buying life insurance for a newborn because the main goal of family life insurance is to replace income and cover major expenses like housing, childcare and education. Once those needs are secured, adding a child rider for a newborn can provide a modest death benefit and guarantee future insurability, even if health issues arise later. For families interested in broader financial protection for children, see MoneyGeek's guide to the best life insurance for children.
After divorce, update life insurance beneficiaries and reassess coverage needs. Ex-spouses may remain beneficiaries unless you make changes. Courts may require one parent to keep an ex-spouse as beneficiary to secure child support or alimony. Coverage amounts may need adjustment if household income decreases after separation. Learn more in MoneyGeek's guide to life insurance and divorce.
Military families receive benefits through Servicemembers' Group Life Insurance (SGLI), which provides up to $500,000 for service members, $100,000 for spouses and $10,000 for children. Since SGLI ends with service, many families add private term coverage to reach adequate financial protection. Veterans can convert SGLI to Veterans' Group Life Insurance (VGLI) within 240 days of separation to continue coverage without new medical underwriting. Explore the best life insurance for veterans.
Choosing family life insurance means protecting multiple people under different policies or riders, making it harder to compare total household costs and coverage gaps. We analyzed 248,399 life insurance quotes to help you find companies that balance affordable rates with flexible coverage options for parents and children.
Our Research Approach
We created a 100-point scoring system weighing what matters most when insuring your entire family. This approach matters for family life insurance because you're protecting multiple lives with different ages and needs, one parent may carry the bulk of coverage while the other needs supplemental protection, and children's riders add complexity to cost comparisons.
Default Profile and Variables
We collected quotes using a 30-year-old nonsmoker (5'9", 160 pounds for men and 5'4", 120 pounds for women, average health) as our baseline. This profile represents typical family life insurance buyers, parents in their peak earning years with young children who need long-term income replacement. We adjusted age, gender, health status and coverage amounts to reflect how different family structures and life stages affect premiums and eligibility.
Scoring Model
Each company earned up to five points in three categories, weighted to generate a final MoneyGeek score out of 100:
Affordability (50%): Premium costs determine whether you can afford adequate coverage for both parents plus child riders. We weighted affordability at 50% because families face competing financial demands like mortgages, childcare and education costs, making every dollar of premium savings valuable for protecting multiple family members.
Customer Experience (30%): Application ease, claims processing and customer service quality matter when you're managing multiple policies or adding riders as your family grows. We weighted customer experience at 30% because families need responsive support when adjusting coverage for new children, updating beneficiaries or filing claims during already stressful times.
Coverage Options (20%): Policy flexibility, rider availability and coverage limits determine whether you can protect stay-at-home parents, add children's coverage affordably and adjust protection as kids grow. We weighted coverage options at 20% because families need child riders, spouse riders and flexible term lengths to match changing financial responsibilities over 20 to 30 years.
Data Analysis
Each company's score incorporates cost data from online quote systems, financial strength ratings from A.M. Best and years in business, customer complaint data from NAIC and J.D. Power plus online customer reviews, and buying process evaluation including online tools and payment flexibility. We focused on companies with broad national coverage and straightforward online quote processes, ensuring our recommendations work for families across different states and situations. Coverage costs and company information were updated in 2025 to reflect current rates and offerings.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.
