Overall, Protective Insurance is the top life insurance company. The ideal provider for you depends on your needs and goals. Below are the top life insurance companies by category to help you decide.
Best Life Insurance Companies in 2025
Protective Insurance, Nationwide, and Ethos are some of the best life insurance companies today. The best option depends on what you're looking for.
Find out if you're overpaying for life insurance below.
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Updated: November 5, 2025
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Key Takeaways
Protective Insurance is the best overall life insurance company. The company offers comprehensive coverage, strong consumer and industry ratings, and extensive rider options.
Nationwide ranks second overall and is our top choice for coverage options, offering all main types of life insurance.
Ethos is the third highest ranked overall and earns the top spot for no-exam life insurance.
Compare the Best Life Insurance Companies
Why Trust Us?
Your needs drive our ratings, not company relationships. Our life insurance experts rate products independently, without any influence from advertisers or financial partnerships. 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. Read our complete methodology for more information.
Best For | Company | Avg Monthly Rate | Ages Supported (Term) | Policy Options | Overall MoneyGeek Score |
|---|---|---|---|---|---|
Protective Insurance | $36.59 (Female), $44.16 (Male) | 20-80 | Term, Whole, Universal, IUL | 4.8 | |
Nationwide | $45.00 (Female), $56.00 (Male) | 18-55 | Term, Whole, Universal, IUL, No-Exam | 4.8 | |
Ethos | $54.09 (Female), $71.77 (Male) | 18-69 | Term, Whole, IUL, No-Exam | 4.7 | |
Guardian Life | $40.00 (Female), $51.00 (Male) | 18-75 | Term, Whole, Universal | 4.7 | |
Gerber Life | $46.69 (Female), $52.99 (Male) | 18-70 | Term, Whole, No-Exam | 4.7 | |
North American | $35.00 (Female), $43.00 (Male) | 18-60 | Term, Whole, Universal, IUL | 4.6 | |
SBLI | $37.00 (Female), $48.00 (Male) | 18-75 | Term, Whole | 4.6 | |
Cincinnati Life | $40.00 (Female), $49.00 (Male) | 0-75 | Term, Whole, Universal, No-Exam | 4.6 | |
Transamerica | $37.00 (Female), $46.00 (Male) | 18-85 | Term, Whole, Universal, IUL | 4.6 | |
Legal & General | $38.00 (Female), $47.00 (Male) | 20-75 | Term, Whole, Universal, IUL | 4.5 |
* 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.
Explore the best life insurance companies by category:
Best Overall: Protective Insurance
Protective
MoneyGeek Rating
4.8/ 5
5/5Affordability
4.7/5Customer Experience
4.4/5Coverage Options
Avg. Monthly Rate
$36.59 (Female), $44.16 (Male)Ages Supported (Term)
20-80Policy Options
Term, Whole, Universal, IUL
Best Coverage Options: Nationwide
Nationwide
MoneyGeek Rating
4.8/ 5
4.9/5Affordability
4.9/5Customer Experience
4.3/5Coverage Options
Avg. Monthly Rate
$45.00 (Female), $56.00 (Male)Ages Supported (Term)
18-55Policy Options
Term, Whole, Universal, IUL, No-Exam
Best No-Exam Coverage: Ethos
Ethos
MoneyGeek Rating
4.7/ 5
4.5/5Affordability
5/5Customer Experience
5/5Coverage Options
Avg. Monthly Rate
$54.09 (Female), $71.77 (Male)Ages Supported (Term)
18-69Policy Options
Term, Whole, IUL, No-Exam
Best Customer Experience: Guardian Life
Guardian Life
MoneyGeek Rating
4.7/ 5
4.8/5Affordability
4.9/5Customer Experience
4/5Coverage Options
Avg. Monthly Rate
$40.00 (Female), $51.00 (Male)Ages Supported (Term)
18-75Policy Options
Term, Whole, Universal
Best Life Insurance for Children: Gerber Life
Gerber
MoneyGeek Rating
4.7/ 5
4.6/5Affordability
4.9/5Customer Experience
4.3/5Coverage Options
Avg. Monthly Rate
$46.69 (Female), $52.99 (Male)Ages Supported (Term)
18-70Policy Options
Term, Whole, No-Exam
Best Whole & Universal Life Insurance: North American
North American
MoneyGeek Rating
4.6/ 5
4.8/5Affordability
4.7/5Customer Experience
3.8/5Coverage Options
Avg. Monthly Rate
$35.00 (Female), $43.00 (Male)Ages Supported (Term)
18-60Policy Options
Term, Whole, Universal, IUL
Most Affordable: SBLI
SBLI
MoneyGeek Rating
4.6/ 5
4.8/5Affordability
4.7/5Customer Experience
3.7/5Coverage Options
Avg. Monthly Rate
$37.00 (Female), $48.00 (Male)Ages Supported (Term)
18-75Policy Options
Term, Whole
Best Rider Options: Cincinnati Life
Cincinnati Insurance
MoneyGeek Rating
4.6/ 5
4.9/5Affordability
4.5/5Customer Experience
3.9/5Coverage Options
Avg. Monthly Rate
$40.00 (Female), $49.00 (Male)Ages Supported (Term)
0-75Policy Options
Term, Whole, Universal, No-Exam
Best Age Range: Transamerica
Transamerica
MoneyGeek Rating
4.6/ 5
5/5Affordability
3.9/5Customer Experience
4.7/5Coverage Options
Avg. Monthly Rate
$37.00 (Female), $46.00 (Male)Ages Supported (Term)
18-85Policy Options
Term, Whole, Universal, IUL
Best Term Life Insurance: Legal & General
Legal & General
MoneyGeek Rating
4.5/ 5
4.4/5Affordability
4.8/5Customer Experience
4.3/5Coverage Options
Avg. Monthly Rate
$38.00 (Female) $47.00 (Male)Ages Supported (Term)
20-75Policy Options
Term, Whole, Universal, IUL
How to Get the Best Life Insurance
Choosing a life insurance policy requires weighing your coverage needs against your budget. Our buying guide helps you find the right policy for your situation.
Financial Strength and Stability
Your insurer's financial health affects whether it can pay claims when your family needs the money. Choose companies with AM Best ratings of A- or higher and few complaints with state insurance departments.
A financially stable insurer ensures your policy pays out when needed. The best policy means nothing if the company can't pay your beneficiaries.
Coverage Options and Flexibility
Your coverage needs change as you age. Top insurers offer term, whole, universal and indexed universal life policies, along with riders like accelerated death benefits or child coverage.
Think about what you actually need right now. Maybe you just want basic term coverage that you can upgrade to permanent insurance down the road, or maybe you need those whole life benefits from day one. Going with companies that offer a variety of products gives you flexibility to switch things up as your life changes.
Coverage Options and Flexibility
Different life stages require different coverage approaches. The best insurers offer term, whole, universal, and indexed universal life policies, plus riders for specific needs like accelerated death benefits or child coverage.
Think about what you actually need right now. Maybe you just want basic term coverage that you can upgrade to permanent insurance down the road, or maybe you need those whole life benefits from day one. Going with companies that offer a variety of products gives you flexibility to switch things up as your life changes.
Competitive Rates and Value
Here's the thing about life insurance: you might get quotes that are all over the map, even for the exact same coverage. It's worth shopping around, but don't just go with whoever's cheapest. That can actually backfire.
You want to look at what you'll pay over the long haul, not just your first year. Some companies hook you with low starter rates, then hit you with big increases later. Others keep their pricing pretty steady from the start. Guess which ones usually work out better for your wallet?
Underwriting Process and Requirements
The life insurance application process affects both your approval time and your premium. Some companies offer no-exam coverage up to a set limit, while others require a full medical exam before issuing a policy.
Consider your health status and timeline needs. If you're young and healthy, you may be able to get better rates with traditional underwriting. If you have health issues or need coverage quickly, simplified underwriting is better for you, though you’ll pay higher rates.
Customer Service and Claims Experience
You want responsive service and fair treatment when working with any life insurance provider. Research J.D. Power ratings, state insurance department complaint data and online reviews to understand how companies treat policyholders.
Look for insurers with streamlined claims processes and multiple ways to contact customer service. The stress of losing a loved one shouldn't be complicated by difficult insurance procedures.
Available Coverage Amounts
Your coverage needs may exceed standard policy limits, especially if you're protecting a high-earning household or high-value assets. Some insurers cap coverage at $5 million, while others offer $10 million or more.
Consider both your current needs and potential future requirements. It's often easier to secure large amounts of coverage when you're younger and healthier than to add coverage later.
Policy Features and Riders
Your basic policy will cover the death benefit, but you can add on extras (called riders) that protect you in specific situations. Here are the most common ones people go for:
- Accelerated death benefits for terminal illness
- Waiver of premium for disability
- Accidental death benefits
- Child coverage riders
Figure out which of these make sense for your life, then see how much different companies charge to add them on.
How Much Life Insurance Coverage Do You Need?
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? Use our life insurance calculator to get a personalized recommendation in just a few minutes.
Life Insurance Calculator
We’ll give you a suggested amount of cover to buy in just 3 easy steps. — it's free, no personal information required, no spam.
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Rates updated:
Nov 05, 2025
How Much Does Life Insurance Cost?
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:
Male
$500,000
No
Average
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-old nonsmokers with an average health rating. The base coverage amount is $500,000.
LIFE INSURANCE COST FACTORS
Insurance companies evaluate these factors when setting your rates:
- Age: Older applicants pay higher premiums, while younger applicants lock in lower rates due to better health.
- Gender: Women pay less than men due to longer life expectancy. Some states prohibit gender-based pricing.
- Height and Weight: Insurers use body mass index (BMI) to assess health. Overweight people with higher BMIs get higher premiums.
- Medical History: Healthier applicants pay less. You'll provide details about illnesses, medications and hospital visits.
- Smoking and Tobacco Use: Smokers, vapers and tobacco users pay more than nonsmokers. Even occasional use affects rates. Smoking penalties vary by insurer.
- Family History: Family history of cancer, diabetes, heart disease or Alzheimer's can increase premiums.
- Occupation and Hobbies: High-risk jobs (first responders, construction workers, military) and activities (racing, rock climbing, skydiving) mean higher premiums.
How Does Life Insurance Work?
Understanding how life insurance works helps you choose a policy that suits your needs. You pay premiums monthly, quarterly, semi-annually or yearly to keep your coverage active. In return, the insurer pays your beneficiaries a death benefit if you pass away while the policy is in effect.
Most policies include a two-year contestability period when the insurer may review claims more closely. After that, your coverage stays valid as long as you continue paying your premiums.
Types of Life Insurance
Your life insurance choice affects your family's financial future.
- Term Life Insurance: Term policies last 10 to 30 years and cost less than permanent coverage. They work well for temporary needs like paying off a mortgage or covering children until they're independent. Term policies build no cash value and coverage ends when the term expires. You receive no payout if you outlive the policy.
- Whole Life Insurance: This option covers you for life and builds cash value over time. This permanent coverage combines death benefit protection with a savings component you can borrow against or withdraw from.
- Universal Life Insurance: Choose this one if you want the ability to adjust your premiums and death benefits as your finances change. The policy builds cash value that you can use to pay premiums or borrow against. This type of coverage is ideal for people who want flexibility to modify their policy over time.
- No-Medical-Exam Insurance: No-exam policies provide immediate coverage without medical testing. You'll pay higher premiums due to the increased risk to insurers, but you can get coverage quickly.
Compare quotes from multiple insurers to find coverage that fits your budget and needs.
Who Needs Life Insurance?
You need life insurance if anyone depends on your income.
- Parents: Life insurance covers your children's future expenses like education and living costs if you die.
- Homeowners: A policy helps your family keep the home and pay off the mortgage without you.
- Business Owners: Life insurance protects your partners and keeps the company running if you die.
- Spouses: A policy maintains your spouse's standard of living, especially if they depend on your income.
- People With Debt: Life insurance pays off your debts so your family doesn't inherit them.
Check life insurance rating companies and explore top-rated policies to find coverage options at competitive rates.
Bottom Line
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.
Best Life Insurance Companies By State
Frequently Asked Questions (FAQs)
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.
How long should my term life policy last?
Choose a term length 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. Financial experts suggest term life for maximum financial protection at minimum cost.
How does the medical exam process work?
You'll schedule your medical exam within one to two weeks of applying. A licensed nurse or paramedical examiner visits your home or workplace. The exam includes basic measurements, health questions and blood and urine samples. The insurer receives results within three to five business days.
Can I convert my term life insurance to permanent coverage?
Yes, most term policies let you switch to whole or universal life insurance without a medical exam. You usually have 10 to 20 years from your policy start date to convert, depending on your insurer. Converting gives you permanent coverage but raises your premiums.
What are the tax implications of life insurance?
Death benefits are tax-free to beneficiaries. Interest earned on benefits paid in installments is taxable. Cash value growth in permanent policies is tax-deferred, but loans against cash value can trigger taxes if the policy lapses. Estate taxes may apply to large policies based on ownership structure.
Can I cancel my life insurance policy?
Yes, contact your insurer or agent to cancel your life insurance policy anytime. Term policies have no cash value, so you won't get money back. Permanent policies may have surrender charges and tax implications when you cancel and withdraw cash value.
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Our Ratings Methodology
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 reviewed 1,488 life insurance quotes and combined them with customer reviews, financial ratings and coverage details to find the best companies for different types of buyers.
How We Score Life Insurance Companies
MoneyGeek rates life insurance providers based on three important factors. Each company receives a score out of 100 points:
- Affordability (50%): How each insurer’s premium rates compare to others in the market.
- Customer Experience (30%): The quality of service, claims handling and overall satisfaction drawn from customer feedback and industry research.
- Coverage Options (20%): The variety and flexibility of available policies, including riders and customization features to suit different needs.
Our Sample Customer Profile
We used the following standard profile to collect quotes:
- 40-year-old male
- Nonsmoker
- 5 feet, 9 inches tall, 160 pounds
- Average health rating
We used this profile for all premium comparisons unless noted otherwise. We also collected quotes for different ages, genders, health ratings and locations to see how rates vary. This revealed pricing trends across term lengths and coverage amounts and showed which companies offer the best value for each customer type.
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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!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.