Best Life Insurance Companies in 2025

Overall, Protective Insurance is the best life insurance company. The ideal provider for you may differ depending on your needs and goals. Below are the top life insurance companies by category to help you decide.

* Rates shown are estimates based on a 40-year old with average weight and height, non-smoker, average health, 20-year term, and $500,000 coverage. Actual rates may vary by state, health profile, and insurer underwriting. Contact insurers directly for personalized quotes.

There are several factors to consider when choosing the best life insurance policy. Our buying guide provides insights to help you find the best policy that balances coverage and affordability.

This is where things get real. It’s important to think about what would happen to your family financially if you weren't around anymore. The goal is to get enough coverage to replace what you earn, pay off your debts, and still fund big things like getting your kids through college.

Most experts say you should aim for 10-12 times what you make in a year. Honestly, though, it depends on how much debt you have, your income level, and what your family's specific needs are.

Want to skip the guesswork? Our life insurance calculator can help you get a personalized recommendation in just a few minutes. 

Life insurance costs vary by coverage amount and buyer profile. The average rate ranges from $33 to $148 for a 40-year-old nonsmoker with average weight and health level. Use the table below to compare average rates for different profiles and term lengths.

*The rates above are based on quotes for 40-year-old nonsmokers with an average health rating. The base coverage amount is $500,000.

Several factors can affect what you'll pay for life insurance. Insurance companies evaluate the following when setting your rates:

• Age: Age is among the most impactful cost factors when applying for life insurance. The older you are, the more expensive your policy will be. The younger you are, the healthier you'll be, which can positively affect your life insurance premium and allow you to lock in a lower rate.
• Gender: Based on actuarial data, women usually pay less for life insurance than men because they tend to have a longer life expectancy and are statistically less likely to participate in risky activities. However, some states prohibit using gender to determine life insurance premiums. Check your state's regulations, as coverage availability and pricing vary by location. Shopping around and comparing life insurance companies can help find the most equitable rates.
• Height and Weight: Your height and weight can give a life insurance company an idea of your overall health. Body mass index (BMI) is a key measure used to determine life insurance rates. Overweight people can generally expect to pay more for life insurance.
• Medical History: Your overall health affects your eligibility for and the cost of life insurance. The healthier you are, the less likely you are to pass away during your policy term, which poses a lower risk to the life insurance company. When applying for life insurance, expect to provide a detailed history of current and past illnesses, medications, and hospital visits.
• Smoking and Tobacco Use: People who smoke, vape, or chew tobacco or smoke marijuana pay more for life insurance than nonsmokers and nontobacco users. Even occasional use can negatively affect life insurance rates. If you're looking for competitive rates, compare policies from different life insurance companies that vary in how they rate smokers.
• Family History: Your family genetics and health history are also used to determine your life insurance eligibility and pricing. Health conditions like cancer, diabetes, heart disease, and Alzheimer’s in your family put you at greater risk of developing these illnesses, which could shorten your life expectancy.
• Occupation and Hobbies: Your work and hobbies can affect how much you pay for life insurance. The riskier your occupation and hobbies are, the more expensive life insurance may be. First responders, construction workers, and active-duty military are examples of high-risk occupations. Hobbies like racing, bungee jumping, skydiving, and scuba diving make you a riskier insurance applicant.

Life insurance provides financial protection for your loved ones by paying a death benefit when you pass away. This money helps your beneficiaries cover mortgage payments, children's education, and daily living expenses. Understanding how life insurance works and the different policy types lets you choose coverage that matches your family's needs and budget.

Understanding how life insurance works can help you choose the right policy for your needs. When you buy life insurance, you pay premiums monthly, quarterly, semi-annually, or annually to keep your coverage active. In exchange, the insurance company promises to pay your beneficiaries a death benefit if you die while the policy is in force.

Most policies include a contestability period during the first two years, when the insurer can investigate claims more thoroughly. After this period, your coverage becomes more secure as long as you continue paying premiums.

Choosing life insurance affects your family's financial future, so understanding your options helps you pick coverage that fits your budget and goals.

• Term Life Insurance: Term life insurance policies are limited to a fixed duration, typically 10 to 30 years. Term life insurance is a straightforward and cost-effective option, often making it the best life insurance plan for budget-conscious buyers or those with temporary coverage needs. Keep in mind that term life insurance provides no cash value, and coverage expires at the end of the term period. If you outlive your policy term, you receive no payout.
• Whole Life Insurance: As a permanent life insurance option, whole life insurance offers coverage that spans your lifetime and an investment component that builds cash value over time. This feature is advantageous for those interested in merging financial protection with an opportunity for savings accumulation.
• Universal Life Insurance: Universal life insurance allows you to adjust your premiums and death benefits as your financial situation changes. The policy builds cash value over time, which you can use to pay premiums or borrow against while you're alive. This type of coverage works well for adults who want options to modify their policy as their needs change.
• No-Medical-Exam Insurance: No-exam life insurance policies offer immediate coverage without needing a medical exam, streamlining the application process. Many top life insurance companies provide no-exam life insurance, though it may come at a higher premium due to the increased risk to the insurer.

Selecting the best life insurance plan for you requires evaluating what each type offers and its alignment with your long-term financial aspirations. Consulting with well-regarded life insurance providers can help you choose a plan that best fits your circumstances.

A life insurance policy can benefit anyone responsible for others’ financial security. This includes:

• Parents: Whether you’re a single parent or part of a couple, ensuring your children are financially secure in your absence is paramount. Life insurance can cover future expenses like education and living costs.
• Homeowners: If you have a mortgage, life insurance can help ensure your family can maintain their home without financial strain if you're no longer there.
• Business Owners: For those who own a business, life insurance can protect your partners and the company itself, allowing operations to continue smoothly.
• Spouses: Life insurance can help maintain the standard of living for the surviving spouse, especially if they rely on your income for daily expenses and future plans.
• People With Debt: If you have large debts, a life insurance policy ensures that these aren’t passed on to your family, securing their financial future.

Choosing the right policy involves finding the best companies for life insurance that offer policies aligned with your needs. Consulting life insurance rating companies and exploring top-rated life insurance policies can help you secure the best coverage at competitive rates.

Life insurance provides financial protection through a death benefit paid to your beneficiaries, though it's not limited to the policyholder's death. Understanding what life insurance covers can help you select the right policy from the best companies.

• Final Expenses: Life insurance covers funeral costs and any final medical bills. This alleviates the financial burden on families during a difficult time, ensuring that end-of-life expenses are managed without stress. Learn more about final expense insurance.
• Income Replacement: For many, life insurance replaces lost income in the event of their death, securing financial stability for their dependents. This is a core consideration when choosing the best life insurance plans.
• Debt Clearance: Policies can be structured to cover outstanding debts, including mortgages, car loans, and credit cards, protecting your family from inheriting your financial liabilities.
• Education Expenses: Some life insurance plans include benefits that can cover educational expenses, ensuring children or dependents can continue their education uninterrupted.
• Estate Taxes: In cases where significant estate taxes are due, life insurance can provide the funds necessary to handle these obligations without the need to liquidate other assets.

Charitable Donations: Life insurance can also be directed towards charitable contributions, making it a tool for legacy planning and philanthropy.

While life insurance provides extensive coverage, certain circumstances and events fall outside its scope. Understanding these exclusions is important when selecting a policy. Knowing what isn’t covered can help prevent claim denials and ensure beneficiaries receive the intended benefits without disputes.

• Suicide: Most policies exclude coverage for death due to suicide within the first couple of years after initiation to prevent fraud. Being aware of this period can prevent unexpected claim denials.
• Fraud: Deliberate misinformation or omission of critical facts on the application can lead to denied claims. Accurate and honest disclosure is essential to ensure coverage validity.
• Criminal Activity: Deaths resulting from criminal acts or illegal activities are generally not covered. Understanding this helps avoid complications in claims under such circumstances.
• Drug or Alcohol Use: Deaths related to undisclosed drug or alcohol abuse may lead to claim denials. Transparency about such issues at the time of application is vital.
• Act of War: Insurance typically excludes deaths caused by war or war-like activities. Awareness of this exclusion is vital for those involved in such risks.
• High-Risk Activities: Risky activities like skydiving or car racing may require additional coverage. Knowing this can help you secure appropriate riders to cover such activities. Learn more about life insurance for high-risk people.

Reviewing policy details can prevent claim denials by ensuring that all terms and exclusions are clearly understood and met.

The best life insurance policy for you depends on your goals, health profile, and budget. This guide explains life insurance, who it's for, and how to get the best coverage. It also compares top-rated providers like Protective Insurance, Nationwide, and Ethos, each offering strengths in different aspects. Once you know what affects your rates and take some time to compare plans, you can find the provider that best meets your financial needs.

We answer frequently asked questions to help you find the company offering the best life insurance and learn how to ensure you get the right coverage for your needs.

Shopping for life insurance can feel overwhelming, because companies market similar products with confusing terminology and wildly different prices. You need clarity on which insurers deliver value, not just flashy marketing promises. That's why we built a scoring system that cuts through the noise to identify companies that balance affordability with reliability.

Why Trust MoneyGeek?

We gathered 1,488 life insurance quotes and combined them with customer satisfaction ratings, financial stability reports, and product offerings to find the best companies for different needs.

How We Score Life Insurance Companies

We rate life insurance companies across three main categories, using scores to create an overall MoneyGeek rating out of 100 points with these weightings:

• Affordability (50%): How competitive and reasonable the provider's premium rates are compared to other insurers in the market.
• Customer Experience (30%): The quality of customer service, claims processing efficiency, and overall satisfaction based on customer feedback and industry ratings.
• Coverage Options (20%): The variety and flexibility of life insurance products offered, including different policy types, riders, and customization features available to meet diverse customer needs.

Our Sample Customer Profile

We used this standard profile to collect quotes across all insurers:

• 40-year-old male
• Nonsmoker
• 5 feet, 9 inches tall, 160 pounds
• Average health rating

All premium comparisons use this profile unless specifically noted otherwise. We also gathered quotes for different ages, genders, health ratings, and locations to understand how rates vary. This approach revealed pricing patterns across term lengths and coverage amounts, helping us identify which companies offer the best value for specific customer types.

What Goes Into Each Score

• Cost analysis: Online quotes from major insurers using our standard customer profile

Financial strength: AM Best ratings combined with years in business