Best Life Insurance Companies in New Jersey (2025)

State Farm offers the best life insurance plans in New Jersey and nationwide, earning a MoneyGeek Score of 99 out of 100 for excellent customer service, affordability and coverage options. Consider also GEICO, Haven, Nationwide and Mutual of Omaha for providing high-quality life insurance.

*Rates presented are for coverage levels between $250-$500K for a 20 year term life insurance plan for a 40-year-old man in good health who does not smoke.

While we've identified the top life insurance company for most, your ideal match might differ based on your personal profile.

Rates in this table differ from the main comparison due to the broader age range (41 to 50 vs. 40) and flexible term selection rather than a fixed 20-year term.

In New Jersey, the top three life insurance providers according to MoneyGeek's analysis are State Farm, GEICO, and Haven. While these are our recommendations, we urge you to do your own research.

New Jersey residents pay some of the country's highest life insurance premiums due to the state's elevated cost of living and medical expenses, making it critical to find coverage that protects your family's financial future without straining your budget. We designed this research to show you which insurers deliver the best combination of affordable rates, financial strength, and customer experience for New Jersey policyholders.

We reviewed companies offering broad national coverage with online quoting capabilities, then scored them using five weighted categories that reflect what matters most when you're buying life insurance.

How we scored each company:

We assigned up to five points across five categories, then calculated overall scores out of 100 using these weightings:

• Affordability (60%): Cost data from online quotes for term policies
• Customer Satisfaction (20%): NAIC complaint index data from 2020-2022
• Product Diversity (10%): Range of policy types and coverage options available
• Financial Stability (5%): AM Best ratings and years in business
• Buying Process (5%): Online tools, product materials, and payment flexibility

Why these weights: Your premiums are what you'll pay for 10, 20, or 30 years, making affordability the dominant factor for New Jersey families managing high living costs. Customer satisfaction carries substantial weight because the cheapest company means nothing if they deny valid claims or provide poor service when your beneficiaries need support most. Product diversity, financial stability, and buying convenience round out the evaluation.

Our baseline quote profile:

We started with a 40-year-old nonsmoker at average height and healthy weight with an excellent health rating. From there, we adjusted age, gender, height, weight, tobacco use, health status, and location to collect quotes across different customer profiles.

We gathered quotes for term policies with varying coverage amounts and term lengths, which represent the most affordable and popular choice for New Jersey families protecting their income and mortgages. When our dataset showed clear pricing patterns, we calculated projections to extend coverage where needed.

This methodology prioritizes real-world buying factors for New Jersey residents. You need affordable coverage from a stable company that handles claims fairly, and our weighted scoring reflects that reality while accounting for the state's uniquely high insurance costs.