Cheapest Life Insurance Companies In 2025

Shopping for affordable life insurance companies gets overwhelming fast when prices vary dramatically between companies and policy types. The most affordable life insurance policies depend on your preferred policy type, coverage level, and personal profile. We've analyzed rates from over 30 companies to help you find the best value for your situation.

Explore our detailed sections below to find the cheapest providers and rates for the most common types of life insurance.

Life insurance premiums vary widely based on several factors, including age, health status, coverage amount, policy type and more. Here’s a quick look at average costs for the most popular types of life insurance and a more detailed overview on the factors that will affect your rates:

* Rates shown are estimates for life insurance policies based on our review of quotes for 40-year-old non-smoking males with average height and health. For term, estimates are based on 20-year terms. Your rates will vary depending on your unique profile and specific needs.

Life insurance premiums don't have to break your budget. With smart research and planning, you can secure substantial savings. As we’ve shared in this guide, there are a number of cheap life insurance policies available. Here's how to save even more:

• Opt for term life insurance. Term life insurance costs less than whole or universal life policies because it provides a death benefit only for a specified term and doesn't build cash value.
  Buy early. Your age determines your premium rates. Younger applicants get cheaper rates because they present less risk to insurers.
• Lead a healthy lifestyle. Health directly affects life insurance premiums. Smoking, excessive drinking, high BMI and pre-existing medical conditions increase your costs. Healthy habits lead to cheaper rates.
• Ladder your policies. Laddering involves buying multiple term life policies with different lengths instead of one large policy. For instance, if you need more coverage now but less in the future, buy one 10-year policy and another 20-year plan instead of a single 30-year policy. When the shorter-term policy ends, you're left with less coverage, which matches your anticipated needs and lowers overall costs.
• Choose cost-effective payment schedules. Pay annually instead of monthly to typically save 3% to 8% on premiums, which adds up to hundreds of dollars in savings over your entire policy term.
• Shop around. Prices vary between insurers. Compare rates from multiple insurers using an online comparison tool to find cheaper life insurance quotes.
• Regularly review your policy. Life changes like quitting smoking or paying off a mortgage qualify you for lower premiums. Review your policy regularly to ensure it remains cost-effective and meets your needs.

Life insurance quotes will vary depending on the provider you choose, on top of personal factors and your chosen coverage. Using our calculator, get quotes from top providers that fit your needs to protect your loved ones.

For budget-conscious consumers seeking substantial coverage, term life insurance offers the cheapest rates. But other policy types work better depending on your situation.

Understanding the key differences between policy types helps you find the cheapest life insurance policy for your needs. Here's a comparison of the main types of life insurance policies:

Figuring out how much life insurance to buy sometimes feels like guesswork, but coverage needs actually follow a predictable pattern. People need more life insurance during working years with dependents and less coverage as they age. Review your needs every few years, especially after major life events like marriage, childbirth, home purchases or retirement. For quick help, use our life insurance calculator to determine how much life insurance you need for your situation.
Examine recommended coverage by life stage:

MoneyGeek's nationwide analysis shows Lincoln Financial, Protective Insurance, North American, Ethos, and Mutual of Omaha offer the most affordable life insurance rates across different customer profiles and policy types. Compare quotes from multiple providers, because rates vary based on your age, health, coverage amount and personal factors.

Finding affordable life insurance can feel overwhelming when you're comparing dozens of companies with different rate structures and coverage options. That's why we developed a targeted research approach specifically for cost-conscious shoppers who want reliable coverage without overpaying.

Our Standard Customer Profile

We used a consistent baseline profile to ensure fair comparisons across insurers:

• 40-year-old man
• Non-smoker
• 5 feet 9 inches tall, 160 pounds
• Average health rating

To determine the cheapest overall companies, we calculated average rates for 30- to 49-year-olds.

This profile represents a common demographic seeking life insurance and allows for meaningful rate comparisons. We chose these specifications because they reflect standard underwriting scenarios that most applicants encounter.

Coverage Analysis Strategy

Our research focused on companies that offer nationwide coverage and provide online quotes: two factors that matter most when you're shopping for affordable rates. We collected quotes across multiple term lengths and coverage amounts to identify consistent patterns in pricing.

Rate Comparison Process

Beyond our standard profile, we modified key variables to understand how rates change based on:

• Age
• Gender differences
• Height and weight variations
• Tobacco use status
• Health ratings

This approach revealed pricing trends that helped us calculate projections and identify which companies consistently offer the most affordable rates for different customer types.

Why This Methodology Works

By using standardized profiles and focusing on companies with broad availability, we eliminated variables that could skew results. Our cheapest overall recommendation reflects rates for our standard profile, with specific callouts when different demographics might find better deals elsewhere.