Overall, Pacific Life 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.
Life Insurance
Best Life Insurance Companies in 2025
Updated: August 18, 2025
Advertising & Editorial Disclosure
Key Takeaways
Pacific Life is the best overall life insurance company, earning an overall MoneyGeek score of 98 out of 100. It's also the top choice for young adults and overweight people.
Nationwide offers the best life insurance for seniors. Legal & General is the top-rated life insurance company for smokers and people with poor health.
Gerber Life ranks as the best provider for no-exam policies, with a MoneyGeek score of 91. The company offers no-exam life insurance coverage up to $1 million.
What Are the Best Life Insurance Companies?
| Overall | Pacific Life | $41 | $493 | 98 |
| Young Adults | Pacific Life | $22 | $266 | 98 |
| Seniors | Nationwide | $121 | $1,448 | 98 |
| Smokers | Legal & General | $115 | $1,379 | 97 |
| Overweight | Pacific Life | $56 | $676 | 90 |
| Poor Health | Legal & General | $55 | $662 | 87 |
| No-Medical Exam | Gerber Life (Fabric) | $42 | $506 | 91 |
Best Life Insurance Company: Pacific Life
Best OverallPacific Life
MoneyGeek Score:
98/ of 100
Average Monthly Rate$41
Average Annual Rate$493
Overview
Pacific Life earns its spot as the best life insurance company by combining affordability, flexibility and strong coverage options. With monthly premiums averaging $41 for a 20-year, $500,000 term policy, it provides accessible rates across age and health profiles. Pacific Life includes an accelerated death benefit at no extra cost.
The company supports a wide age range (up to age 75) and allows policyholders to customize coverage through valuable riders. For those seeking long-term financial protection with broad underwriting support and consistent value, Pacific Life delivers reliable solutions at a competitive price.
Pacific Life also ranks as the top provider for young adults, with an average monthly rate of $22, and for overweight people, with costs averaging $56 per month.
*Coverage availability and rates may vary by state. Contact the insurer directly to confirm eligibility in your area.
Best Life Insurance for Seniors: Nationwide
Best for SeniorsNationwide
MoneyGeek Score:
98/ of 100
Average Monthly Rate$121
Average Annual Rate$1,448
Overview
Nationwide is the best life insurance company for seniors, offering robust term life policies with customizable features and strong financial ratings. With an average monthly cost of $121 for a $500,000 10-year term policy, seniors can access coverage amounts over $10 million, including up to $1.5 million without a medical exam.
Nationwide supports key riders such as return of premium, waiver of premium, and guaranteed insurability, allowing policyholders to tailor their financial protection. The company’s multi-product bundling option enhances value for those who also hold other Nationwide policies. Its combination of comprehensive benefits and reliability makes it a trusted choice for seniors seeking dependable long-term coverage.
*Coverage availability and rates may vary by state. Contact the insurer directly to confirm eligibility in your area.
Best Life Insurance for Smokers and People With Poor Health: Legal & General
Best for Smokers and People With Poor HealthLegal & General
MoneyGeek Score:
97/ of 100
Average Monthly Rate$115
Average Annual Rate$1,379
Overview
Legal & General is the best life insurance company for smokers and people with poor health, offering broad coverage and flexible policy features at competitive rates for higher-risk applicants. The company balances cost with long-term financial protection, with monthly rates averaging $115 for smokers and $55 for those in poor health. These rates are based on a 40-year-old male with a $500,000 20-year term policy.
Legal & General earns a MoneyGeek score of 97 out of 100 for smokers and 87 for those in poor health, showing strong performance in coverage availability, pricing and policy flexibility. It supports coverage up to $10 million with terms as long as 40 years, providing stability even for those with higher risk profiles.
Key riders include guaranteed insurability, accelerated death benefits, and child term coverage with conversion options, which help families adjust financial protection over time. Legal & General's broad underwriting approach (the process insurers use to evaluate your risk and set rates) and extended term options make it the top choice for people who may face health or tobacco-related challenges when applying for coverage.
*Coverage availability and rates may vary by state. Contact the insurer directly to confirm eligibility in your area.
Best No-Medical-Exam Life Insurance: Gerber Life
Best for No ExamGerber
MoneyGeek Score:
91/ of 100
Average Monthly Rate$42
Average Annual Rate$506
Overview
Gerber Life is the best no-medical-exam life insurance company, offering accessible coverage through simplified underwriting and guaranteed acceptance policies. Its average monthly cost is $42 for a $500,000 20-year term policy, with term coverage available up to $1 million without requiring a physical exam or lab work. This makes it an ideal option for those who prefer a streamlined application process.
Gerber Life earns a MoneyGeek score of 91 out of 100, reflecting strong performance in accessibility, policy options and financial strength. Applicants aged 18 to 70 can apply for simplified-issue term life insurance by answering a short health questionnaire (no medical exam required). For those aged 50 to 80 (up to 75 in New York), the guaranteed-issue whole life policy offers up to $25,000 in coverage with no health questions asked.
With term lengths of 10, 20, or 30 years, Gerber Life supports a wide range of needs, making it a strong choice for those seeking coverage without traditional underwriting barriers.
*Coverage availability and rates may vary by state. Contact the insurer directly to confirm eligibility in your area.
Best Life Insurance: Buying Guide
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. Find out more about securing the right policy for your situation below.
How to Get the Best Life Insurance
Assessing your needs can help you find the best life insurance company and policy. Unless you die prematurely, expect to keep a life insurance policy for many years. Here's how to make sure you get the best life policy.
- 1
Evaluate Your Finances
Assess your current financial situation, including income, debts and future obligations like your children's education, to gauge how your family would manage without your income.
- 2
Determine Coverage Needs
Based on your financial assessment, decide the coverage amount you'll need. A general guideline is to choose coverage 10 to 12 times your annual income. However, your circumstances and long-term commitments can influence this figure.
- 3
Know Your Policy Options
Familiarize yourself with the different types of life insurance, mainly term and permanent insurance. Term insurance offers coverage for a specific period, while permanent insurance provides lifelong coverage and may include a cash value component. The best life insurance is the one that aligns with your financial health and life stage.
- 4
Shop Smart
Don't rush into the first offer that comes your way. Use online tools to compare quotes from multiple companies that offer life insurance to find the lowest price. Pay attention not just to the rates but also to the company's financial stability and customer service reputation. It may also help to look at life insurance company reviews.
- 5
Optimize Your Policy
Consider adding policy riders that suit your specific needs, such as a critical illness rider, and adopting a healthy lifestyle to lower your premiums. You can also consider consulting a financial advisor with insurance expertise to ensure your policy aligns with your overall financial strategy.
HOW TO COMPARE LIFE INSURANCE COMPANIES
To find the most suitable and affordable coverage, create a list of life insurance companies to research. Compare the life insurance companies' product offerings and make sure they meet your needs to secure the right coverage.
Standard Application Timeline: What to Expect
- Week 1: Submit application and schedule medical exam.
- Weeks 2 to 3: Complete medical exam and lab work.
- Weeks 4 to 6: Go through an underwriting review and submit additional requirements (if needed).
- Weeks 6 to 8: Wait for the final approval and policy delivery.
Medical Exam Requirements
Most life insurance applications require a medical exam at no cost to you. The exam often includes:
- Height, weight, and vital signs measurement
- Blood and urine samples for lab testing
- Basic health questionnaire with the examiner
- Electrocardiogram (EKG) for older applicants or larger coverage amounts
Underwriting Process
Insurance companies review your application and medical exam results. They may request additional information such as:
- Medical records from your doctor
- Motor vehicle records
- Credit reports (in some states)
- Prescription drug database checks
Be prepared to answer follow-up questions about your health history, lifestyle, or financial situation during this period.
How Much Is Life Insurance?
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.
Data filtered by:Results filtered by:
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Gender:Male
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Coverage Level:$500,000
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Smoking Status:No
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Health Level:Average
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Weight:Average
| 10 years | $33 | $382 |
| 15 years | $43 | $494 |
| 20 years | $53 | $606 |
| 25 years | $70 | $840 |
| 30 years | $87 | $1,000 |
| 35 years | $101 | $1,216 |
| 40 years | $148 | $1,777 |
*The rates above are based on quotes for 40-year-olds.
Compare Best Life Insurance Quotes
Life insurance companies calculate premiums differently. Getting personalized quotes from multiple providers will help you accurately estimate your premiums. Use MoneyGeek's life insurance cost calculator below to get started.
Life Insurance Calculator
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Rates updated:
Aug 18, 2025
What Factors Impact the Cost of Your Life Insurance Premium?
Your life insurance premium depends on several factors. Insurance companies evaluate these elements 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; 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.
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.
Who Should Get Life Insurance?
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.
Where to Get Life Insurance
The best place to get life insurance depends on your needs and preferences. Online platforms often provide a convenient way to compare policies and rates from multiple companies that sell life insurance. These platforms allow for easy comparison of coverage options and premiums, helping you find the best life insurance rate.
Consulting with the highest-rated life insurance companies and agencies can offer personalized service and expert advice, ensuring you select a policy that aligns perfectly with your financial goals.
Life Insurance Companies and Rates
Data filtered by:Results filtered by:
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Term Length:10 years
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Gender:Male
| Protective Insurance | $23 | $277 |
| Lincoln Financial | $24 | $285 |
| AAA | $27 | $326 |
| Gerber Life (Fabric) | $28 | $337 |
| Fidelity Life | $29 | $345 |
| North American | $29 | $349 |
| Midland National | $29 | $349 |
| TransAmerica | $30 | $359 |
| Principal National | $31 | $372 |
| CoreBridge | $32 | $381 |
| Securian | $32 | $383 |
| Guardian Life | $33 | $396 |
| Legal & General | $33 | $397 |
| Pacific Life | $33 | $397 |
| Cincinnati Life | $33 | $399 |
| SBLI | $34 | $410 |
| Nationwide | $34 | $411 |
| Columbus Life | $36 | $429 |
| Mutual of Omaha | $37 | $444 |
| Equitable Life | $37 | $445 |
| Assurity | $37 | $446 |
| Foresters Financial | $38 | $454 |
| Life Insurance Co of The South West | $38 | $456 |
| National Life Group | $38 | $456 |
| John Hancock | $41 | $495 |
| Prudential | $42 | $506 |
*The rates above are based on quotes for 40-year-old nonsmokers with an average health rating. The base coverage amount is $500,000.
Life Insurance Basics
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.
How Life Insurance Works
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.
Types of Life Insurance
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
These policies are limited to a fixed duration, typically 10 to 30 years. These make them suitable for those needing coverage during critical financial years, such as raising a family or paying off a mortgage. 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.
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
These 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 policy 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.
What Does Life Insurance Cover?
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.
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.
What Does Life Insurance Not Cover?
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.
Reviewing policy details can prevent claim denials by ensuring that all terms and exclusions are clearly understood and met.
How Much Life Insurance Coverage Do You Need?
Determining the right amount of life insurance coverage feels overwhelming — you want to protect your family without overpaying for unnecessary coverage. Most financial experts recommend coverage worth 10 to 12 times your annual income, though the right amount depends on your debts, income and family's situation.
Our life insurance coverage calculator will help you determine how much financial protection your family needs by analyzing your financial situation. Enter your income, savings and debts for a personalized coverage recommendation in minutes.
Best Companies for Life Insurance: Bottom Line
Choosing the right life insurance company 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 Pacific Life, Nationwide, Legal & General and Gerber Life, each offering strengths in different aspects. By understanding what factors influence your premium and comparing plans, you can find the provider that best meets your financial protection needs.
Best Life Insurance: FAQ
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.
What is the best life insurance company?
Pacific Life is the best overall life insurance company, with a MoneyGeek score of 98 out of 100. Offering $500,000 in coverage with a 20-year term at $41 per month, it couples affordability with exceptional service.
What does life insurance cover and not cover?
Life insurance provides a benefit to beneficiaries upon the policyholder's death, assisting with income replacement, debt repayment and final expenses. However, it doesn't cover situations involving fraud, certain types of death (like suicide within a specific period after policy initiation) or unpaid premiums. Specific exclusions vary by policy.
Who offers the best life insurance policy?
Top-rated life insurance companies offer the best policies. They're known for robust financial stability, excellent customer service and comprehensive coverage at competitive rates.
What makes a good life insurance company?
A good life insurance company demonstrates reliability, strong ratings and a history of timely payouts. The best-rated life insurance companies prioritize transparent terms and tailor their policies to meet diverse client needs.
Who is the most trustworthy life insurance company?
Generally, the most trustworthy life insurance providers are those with high life insurance company rankings, a reputation for ethical practices and consistent positive reviews from policyholders. These companies often get high life insurance company ratings due to their integrity and reliability.
Which life insurance is best?
The best life insurance depends on your financial goals, coverage needs and budget. The best policy offers flexibility in premium payments and benefits, and it adapts to changing life circumstances. Engaging with the best life insurance providers who offer transparent terms and comprehensive coverage can aid in selecting the right policy.
Do I need a medical exam to get life insurance?
Not always. Many companies now offer no-exam policies with coverage up to $3 million. However, no-exam policies typically cost 10% to 30% more than fully underwritten policies requiring an exam.
How long should my term life policy last?
Choose a term that covers your longest financial obligation. Most experts recommend a term that lasts until your youngest child is financially independent or until your mortgage is paid off.
Will my rates increase during my term life policy?
No. Term life insurance has level premiums, meaning your monthly payment stays the same throughout the entire term. However, if you renew after the term expires, new rates will be higher.
Is term life insurance or whole life insurance better?
Term life provides higher coverage at lower cost for a specific period, while whole life offers lifetime financial protection with cash value but at five to 15 times higher premiums. Most financial experts recommend term life for maximum financial protection at minimum cost.
How does the medical exam process work?
The medical exam is scheduled within one to two weeks of your application approval. A licensed nurse or paramedical examiner visits your home or workplace at your convenience.
The exam includes basic measurements, health questions and collection of blood and urine samples for lab testing. Results are sent directly to the insurance company within three to five business days.
Can I convert my term life insurance to permanent coverage?
Yes, most term life policies include a conversion option that allows you to switch to whole or universal life insurance without a medical exam. Depending on your insurer, you have 10 to 20 years from your policy start date to convert. Converting locks in permanent coverage but increases your premiums.
What are the tax implications of life insurance?
Life insurance death benefits are generally tax-free to beneficiaries. However, any interest earned on benefits paid in installments is taxable. Cash value growth in permanent policies is tax-deferred, but loans against cash value may have tax consequences if the policy lapses. Estate taxes may apply to large policies depending on the ownership structure.
Can I cancel my life insurance policy?
Yes, you can cancel your life insurance policy at any time by contacting your insurer or agent. Term life policies have no cash value, so you won't receive money back for cancellation. Permanent policies may have surrender charges and tax implications when you cancel and withdraw cash value.
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The Best Life Insurance Companies: Our Ratings Methodology
Life insurance shopping feels 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 insurers across five categories, with each company earning up to five points per category. These scores create an overall MoneyGeek rating out of 100 points using these weightings:
- Affordability: 30%
- Financial stability: 25%
- Buying process: 20%
- Customer satisfaction: 15%
- Product diversity: 10%
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 to assess long-term stability
- Customer experience: NAIC complaint index data showing real customer satisfaction beyond marketing claims
- Buying tools: Availability of online resources, quote systems and payment options that simplify the process
- Product range: Variety of life insurance types offered, from basic term to specialized permanent policies
This methodology focuses on factors that impact your policyholder experience, not just what companies claim about themselves in marketing materials.
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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!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.