Most insurance comparison sites pull a handful of quotes for a handful of profiles and call it research. Our rate database covers a wide range of profiles covering ages 20 to 80 across four standard life insurance health ratings for both smokers and nonsmokers using different term lengths and coverage levels up to $10 million. Here’s exactly how we built it and why we made the choices we did.
Life Insurance Review and Cost Analysis Methodology
We analyzed thousands of life insurance quotes from 37 companies alongside customer satisfaction, financial stability reports, product offerings and more to determine the best life insurance companies.
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Updated: May 7, 2026
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How We Research Life Insurance
Where Our Rate Data Comes From
MoneyGeek collects life insurance quotes directly from providers, updating our data every quarter. We source quotes only from insurers with a minimum AM Best financial strength rating of A-, so every rate in our analysis reflects a carrier that meets a baseline standard for financial stability.
Our Base Life Insurance Profile
All rates use the following profile unless a page specifies otherwise:
- 40-year-old male
- Average health, height and weight
- Nonsmoker
- 20-year term length (for term products)
- $500,000 coverage
Additional Profiles
We modified the profile by age, gender, height, weight, tobacco use, health rating and geographic location to collect various quotes and determine the best life insurance company for several types of customers. We collected rate data for combinations of the following variables:
- Ages: 20, 30, 40, 50, 60, 70, 80 years old
- Genders: Male and female
- Tobacco Use: Smokers and nonsmokers
- Health Ratings: Regular (Fair), Regular Plus (Average), Preferred (Good), Preferred Plus (Excellent)
- Term Lengths: 10, 15, 20, 25, 30, 35, 40 years
- Coverage Levels: $100,000 to $10 million
Why You Can Trust our Baseline Profiles
Why We Used a 40-Year-Old
Adults between 35 and 54 account for the largest share of term life purchases in the U.S., according to LIMRA. Rates at this age are still affordable enough to reflect a real purchase decision while covering a buyer with meaningful financial obligations like a mortgage and dependents.
Why We Chose an Average Health Rating
Most applicants qualify for a standard health classification, not a preferred or preferred plus rating. Those top tiers apply to buyers with ideal weight, no family history of major illness and no prescription medications, a minority of the market. An average health rating produces rates that reflect what most people will actually see when they apply.
Why We Used Nonsmoking Rates
Smokers pay two to three times more for life insurance than nonsmokers, making smoker rates unsuitable as a general baseline. The CDC estimates only about 19% of U.S. adults smoke, so nonsmoking rates represent the vast majority of buyers. Our baseline assumes no tobacco or nicotine use, including vaping, in the past 12 months.
Why We Chose a 20-Year Term
A 20-year term is the most commonly purchased term length, because it covers the years when financial obligations are highest. For a 40-year-old, that means protection through age 60, when mortgages are still active, children may still be dependents and retirement savings aren't yet fully built. LIMRA consistently shows 20-year terms as the top-selling option.
Why We Chose $500,000 Coverage
$500,000 is the coverage floor most financial planners recommend for a household with dependents. It's widely available across all carriers, straightforward to compare and meaningful enough to provide real financial protection. It also reflects the amount most buyers request first, so our rates represent actual market pricing rather than high-face-value outliers that skew comparisons.
MoneyGeek Life Insurer Scoring System
Companies earn up to five points in each category in our unique scoring system. We then use these category scores to calculate an overall MoneyGeek score out of five. We applied the following weightings to score insurers:
- 1Affordability (50%)
How competitive and reasonable the provider's premium rates are compared to other insurers in the market, based on quotes obtained from the provider.
- 2Customer experience (30%)
The quality of customer service, claims processing efficiency, and overall satisfaction based on customer feedback and industry ratings. We reviewed consumer forums and scored providers as well as industry ratings from J.D. Power, BBB, AM Best. We also reviewed average NAIC complaint indexes for every company in our analysis.
- 3Coverage options (20%)
The variety and flexibility of life insurance products offered, including different policy types, term lengths, age eligibility, coverage limits, riders, and customization features available to meet diverse customer needs.
Companies Represented
We reviewed 37 life insurance companies across Term, Whole, Universal, Guaranteed, and Final Expense policy types, including: AAA, AARP, Aetna, Aflac, AIG, American Amicable, American Home Life, Americo, Banner Life, Cincinnati Life, Columbus Life, Corebridge, Ethos, Fidelity Life, Foresters Financial, Gerber Life (Fabric), Guardian Life, John Hancock, Ladder, Liberty Bankers Life, Lincoln Financial, Lincoln Heritage, MassMutual, Midland National, Mutual of Omaha, Nationwide, New York Life, North American, Pacific Life, Penn Mutual, Physicians Mutual, Protective Insurance, Prudential, Royal Neighbors of America, State Farm, Transamerica, USAA.
Methodology Disclaimer
MoneyGeek rate data does not constitute a binding quote. Your actual rate depends on your specific profile, policy type and policy options selected at the time of application. Get quotes directly from carriers before making a coverage decision. Insurance regulations vary by state. Rate factors including gender may be prohibited or restricted in certain states. Verify coverage requirements with your state's insurance department.
About Patrick Bryant
Patrick Bryant is Vertical Lead for Life and Health Insurance at MoneyGeek, where he researches and writes about life and health insurance products and maintains the scoring methodologies that underpin MoneyGeek's provider comparisons in both verticals. His scoring methodologies for both verticals are reviewed and updated quarterly to reflect current carrier data and market conditions.
Life Insurance
For life insurance, Bryant analyzed more than 50 carriers across term, whole life, universal life, indexed universal life, guaranteed acceptance, no-exam, and final expense products in all 50 states, collecting thousands of quotes across age, gender, health status, coverage level, and tobacco use profiles. He has produced articles covering life insurance reviews, best of guides, rate analysis guides and informational resources to help consumers better understand policy options, pricing factors, underwriting requirements, and how to choose coverage that fits their financial goals.
Health Insurance
For health insurance, he reviews providers across all 50 states using CMS exchange data, Quality Rating System ratings, and claim denial rates covering individual and family plans, Medicare Advantage, and Medicare Supplement plans. He has analyzed plan costs, benefits, network strength, and out-of-pocket exposure across a wide range of consumer profiles, producing in-depth reviews, best-of rankings, and educational guides to help individuals and families compare options and choose coverage that aligns with their healthcare needs and budget.
Before specializing in insurance, Bryant spent four years at Forbes Advisor reviewing small business software and services. During that time, he developed the product review and data methodology skills he now applies to carrier analysis at MoneyGeek. Earlier roles at ClickGiant and Benefitfocus involved direct content work for insurance agents, carriers and employee benefits partners including Allstate and Aflac.
Education
- M.A., English, Winthrop University
- B.A., English, Winthrop University
Expertise
Life Insurance, Health Insurance, Medicare Advantage, Medicare Supplement