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: October 27, 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
There are several factors to consider when choosing a life insurance policy. Our buying guide provides insights to help you find the best policy that balances coverage and affordability.
Financial Strength and Stability
Your insurer's financial health determines whether it can pay claims when your family needs the money most. Look for companies with strong AM Best ratings (A- or higher) and solid complaint records with state insurance departments.
A financially stable company protects your investment and gives you confidence that coverage will be there when it counts. Even the best policy is worthless if the company can't honor its commitments.
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.
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 application process affects how quickly you get coverage and how much you'll pay. Some insurers offer no-exam policies up to certain amounts, while others require extensive medical testing.
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:
Oct 31, 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
Several factors can affect what you'll pay for life insurance. Insurance companies evaluate the following when setting your rates:
- Age: Older applicants pay higher premiums, while younger applicants can lock in lower rates due to better health.
- Gender: Women generally pay less for life insurance than men due to longer life expectancy and lower risk factors. Some states prohibit gender-based pricing, so check your state's regulations.
- Height and Weight: Life insurers use body mass index (BMI) to assess overall health. Overweight people with higher BMI measurements pay higher premiums.
- Medical History: Healthier applicants pose lower risk and pay less. Expect to provide details about current and past illnesses, medications, and hospital visits.
- Smoking and Tobacco Use: Smokers, vapers and tobacco pay more than nonsmokers. Even occasional use affects rates. Compare policies from different life insurance companies, as smoking penalties vary.
- Family History: Family history of conditions like cancer, diabetes, heart disease and Alzheimer's can increase premiums.
- Occupation and Hobbies: High-risk jobs (like first responders, construction workers, and military) and activities (like racing, rock climbing, and skydiving) have higher premiums.
How Does Life Insurance Work?
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: Term life insurance policies are limited to a fixed duration, like10 to 30 years. Term life insurance is a straightforward and cost-effective option, often making it the right life insurance policy for budget-conscious buyers or those with temporary coverage needs. Keep in mind that term life insurance provides no cash value, and coverage expires at the end of the term period. If you outlive your policy term, you receive no payout.
- 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: No-exam life insurance 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 right life insurance plan for you 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.
Who Needs Life Insurance?
A life insurance policy benefits 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.
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?
The medical exam is scheduled within 1-2 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 3-5 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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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 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 life insurance companies across three main categories, using scores to create an overall MoneyGeek rating out of 100 points with these weightings:
- Affordability (50%): How competitive and reasonable the provider's premium rates are compared to other insurers in the market.
- Customer Experience (30%): The quality of customer service, claims processing efficiency, and overall satisfaction based on customer feedback and industry ratings.
- Coverage Options (20%): The variety and flexibility of life insurance products offered, including different policy types, riders, and customization features available to meet diverse customer needs.
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.
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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.