10 Best Life Insurance Companies in 2025 (Check Out the Top Providers)
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The best life insurance companies are State Farm, AIG, and Prudential. State Farm stands out as the best life insurance company for its excellent customer service and affordable rates starting at just $18/month.
AIG stands out for its wide range of options, including term, whole, and guaranteed issue life insurance, along with add-ons like critical illness coverage. Prudential offers flexible policies such as term and universal life insurance, with extra features like living benefits to fit different needs.
| Insurance Company | Rank | Monthly Rates | A.M. Best | Best For | Jump to Pros/Cons |
|---|---|---|---|---|---|
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#1 | $18 | A | Customer Service | State Farm |
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#2 | $20 | B | Extensive Coverage | AIG |
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#3 | $21 | A+ | Diverse Options | Prudential |
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#4 | $22 | A+ | Wellness Benefits | John Hancock |
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#5 | $22 | A+ | Retirement Planning | Pacific Life |
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#6 | $23 | A+ | Whole Life Rates | Mutual of Omaha |
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#7 | $24 | A+ | Reliable Support | Lincoln Financial |
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#8 | $25 | A++ | Policy Flexibility | Northwestern Mutual |
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#9 | $28 | A++ | Member Benefits | MassMutual |
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#10 | $30 | A++ | Longstanding Trust | New York Life |
Whether you’re looking for customizable policies, wellness benefits, or reliable financial protection, our guide has everything you need to know about applying for life insurance. Keep reading to compare rates from the best life insurance companies in the U.S. You can get free quotes for life insurance right now by entering your ZIP code into our tool.
What You Should Know
- State Farm leads with $18/month premiums and rider customization
- Prudential is an industry leader with an A+ A.M. Best rating and over 150 years of experience
- Choose between term life or whole life insurance based on your financial needs
#1 – State Farm: Top Overall Pick
Pros
- Great Service: As per our State Farm review, it is highly rated for life insurance customer satisfaction by J.D. Power, with a robust network of agents providing personalized support.
- Low Rates: Term life insurance policies start at $18/month, making coverage accessible for most budgets.
- Policy Bundles: Save up to 17% by bundling life insurance with auto or home insurance policies.
Cons
- Limited Coverage Options: Specialized life insurance plans, like guaranteed issue or indexed universal life, are not available in all states.
- Higher Add-On Costs: Riders such as accidental death or waiver of premium increase monthly life insurance payments.
#2 – AIG: Best for Extensive Coverage
Pros
- Wide Coverage: AIG offers term, whole, universal, and guaranteed issue life insurance, covering a range of needs, including high-risk applicants. Read our AIG review to compare the many types of life insurance plans it offers.
- Custom Plans: Riders like chronic illness, child protection, and critical illness can be added for tailored coverage.
- Affordable Rates: AIG’s term life policies start at $20/month, among the lowest for its coverage levels.
Cons
- Long Process: Fully underwritten policies require medical exams, often delaying approval by several weeks.
- Lower Rating: AIG’s A rating from A.M. Best is lower than competitors, reflecting moderate financial strength.
#3 – Prudential: Best for Diverse Options
Pros
- Many Options: Based on our Prudential review, it offers term, universal, indexed universal, and variable universal life insurance, making it suitable for a variety of needs.
- Good Rates: Policies start at $21/month, providing a balance of cost and coverage.
- Strong Financial Backing: Prudential’s A+ rating from A.M. Best reflects its long-term stability and reliability.
Cons
- Higher Costs for Whole Life: Whole life premiums start at $140/month, higher than many competitors.
- Online Tools: Policy management and quote tools are not as user-friendly as other providers.
#4 – John Hancock: Best for Wellness Benefits
Pros
- Health Rewards: With its Vitality Program, it's one of the best life insurance companies that offer discounts for being healthy up to 25% for maintaining healthy habits, such as exercising and completing health checkups.
- Fair Rates: Term life policies start at $22/month, combining affordability with wellness benefits.
- Reliable Company: John Hancock’s A+ rating from A.M. Best reflects strong financial health and claims-paying ability.
Cons
- Health Tracking Required: Customers must actively track health metrics to access rewards, which can be inconvenient.
- Increased Rates: Monthly life insurance rates may be higher if you don't qualify for or participate in the Vitality Program.
#5 – Pacific Life: Best for Retirement Planning
Pros
- Retirement Focus: Pacific Life has the best life insurance that generates immediate cash value that can supplement retirement income.
- Affordable Rates: Term life policies start at $22/month, with whole life insurance competitively priced at $148/month.
- Strong Company: Pacific Life’s A+ rating from A.M. Best ensures stability and reliability.
Cons
- Few Policy Types: Primarily focuses on universal and indexed universal life insurance, with fewer whole life options.
- Approval Delays: The underwriting process for cash value life insurance policies can take longer than average.
#6 – Mutual of Omaha: Best Whole Life Insurance Rates
Pros
- Budget-Friendly: Policies start at $125/month, making it the most budget-friendly option on this list.
- Good Discounts: Customers can save by combining life insurance with other policies, such as Medicare supplements.
- Reliable Help: Mutual of Omaha is a customer's choice top-ranked insurance company for its service in claims handling.
Cons
- Basic Online Tools: The website offers limited features for managing life insurance policies or obtaining detailed quotes.
- Higher Rates for Older People: Premiums for applicants over 60 are less competitive compared to other providers.
#7 – Lincoln Financial: Best for Reliable Support
Pros
- Few Customer Complaints: Lincoln Financial has a low complaint ratio, indicating high customer satisfaction.
- Fair Rates: Term life insurance starts at $24/month, while whole life policies start at $138/month, providing good value.
- Financial Stability: Lincoln Financial holds an A+ rating from A.M. Best, ensuring dependable claims handling.
Cons
- Financial Advisor Fees: You must work with a financial advisor. Learn about planning your financial future with insurance.
- Slow Approval: Approval for fully underwritten life insurance policies often takes longer than competitors.
#8 – Northwestern Mutual: Best for Policy Flexibility
Pros
- Custom Policies: You can adjust life insurance coverage at any time to fit your needs. Find out when you need life insurance.
- Competitive Rates: Term life insurance starts at $25/month, offering good value for a highly rated provider.
- Highly Rated: Northwestern Mutual’s A++ rating from A.M. Best reflects superior financial strength and reliability.
Cons
- No Online Quotes: Customers must work with an agent to receive detailed life insurance quotes, which may be less convenient.
- Limited Information Online: The website lacks transparency about rider options and policy details.
#9 – MassMutual: Best for Member Benefits
Pros
- Member Benefits: Whole life policyholders can receive annual dividends, reducing premiums or increasing cash value.
- Good Starting Rates: Term policies start at $28/month, and whole life policies are competitively priced at $135/month.
- Trusted Company: MassMutual holds an A++ rating from A.M. Best, indicating strong financial stability.
Cons
- Rising Premiums: Adding more coverage can increase monthly costs. Learn about modified life insurance.
- Long Application Process: Approval for whole life insurance can take several weeks.
#10 – New York Life: Best for Longstanding Trust
Pros
- Trusted Brand: It's the best life insurance for parents with a long history of reliable service.
- Strong Financial Rating: Its A++ rating from A.M. Best reflects excellent claims-paying ability.
- Whole Life Benefits: Whole life policyholders earn dividends and can participate in board voting.
Cons
- High Starting Costs: Term life insurance starts at $30/month, higher than many competitors.
- Outdated Tools: The website lacks modern features for managing policies or obtaining quotes online.
Find the Best Life Insurance Rates for Term and Whole Policies
How much does life insurance cost? When looking for the best life insurance rates, it’s important to compare term and whole life policies. Here’s a look at monthly rates from the best life insurance companies to help you decide:
| Insurance Company | Term Policy | Whole Policy |
|---|---|---|
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$20 | $155 |
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$22 | $140 |
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$24 | $138 |
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$28 | $135 |
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$23 | $125 |
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$30 | $150 |
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$25 | $145 |
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$22 | $148 |
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$21 | $140 |
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$18 | $160 |
Term life insurance covers you for a set period at lower monthly costs. For affordable term life insurance, State Farm offers the lowest rate at $18/month, with AIG at $20/month and Prudential at $21/month close behind. The table below compares monthly rates for term life insurance policies across top providers, based on coverage amounts ranging from $100,000 to $1 million.
| Insurance Company | $100K Term Policy | $250K Term Policy | $500K Term Policy | $1M Term Policy |
|---|---|---|---|---|
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$25 | $60 | $110 | $200 |
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$28 | $65 | $115 | $210 |
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$26 | $63 | $113 | $205 |
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$27 | $64 | $114 | $208 |
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$24 | $59 | $109 | $195 |
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$29 | $67 | $118 | $215 |
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$30 | $70 | $120 | $220 |
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$26 | $62 | $112 | $203 |
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$28 | $65 | $115 | $210 |
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$25 | $60 | $110 | $200 |
Whole life insurance provides lifetime protection and builds cash value over time, making it a good option for long-term financial security. However, it is usually more expensive than term life insurance. The table below shows monthly rates for whole life insurance at different coverage levels to help you find the best fit for your budget.
| Insurance Company | $50K Whole Policy | $100K Whole Policy | $250K Whole Policy | $500K Whole Policy |
|---|---|---|---|---|
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$50 | $95 | $230 | $450 |
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$48 | $90 | $225 | $440 |
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$46 | $88 | $220 | $430 |
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$44 | $85 | $215 | $420 |
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$45 | $87 | $218 | $425 |
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$47 | $90 | $225 | $440 |
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$50 | $95 | $230 | $450 |
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$49 | $92 | $228 | $445 |
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$46 | $88 | $220 | $430 |
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$44 | $85 | $210 | $400 |
For affordable whole life insurance, Mutual of Omaha offers the most affordable whole life rates starting at $125/month, while MassMutual and Lincoln Financial provide solid coverage for $135 and $138/month.
Companies like New York Life and Northwestern Mutual are known for being among the best life insurance companies that pay out, offering reliable policies with strong financial stability, though their monthly rates are higher, often between $145 and $150/month for standard amounts.
If you're looking for affordable options, State Farm offers competitive rates, starting at $210/month for a $250K policy, while Mutual of Omaha is a great choice for the lowest rates starting at $125/month.
Comprehensive Life Insurance Policies for Every Stage of Life
Life insurance needs change as you navigate different stages of life, whether you're securing income protection, planning for your family's future, or building wealth over time.
Choosing the right life insurance provider depends on your goals and the type of coverage you need. Use our guide on term vs. whole life insurance to determine which policy works best for your financial situation. Browse our guide on term vs. whole life insurance to decide which policy fits you best.
The table below shows the types of life insurance offered by top providers, including term, whole, universal, final expense, and guaranteed issue policies. This comparison helps you find a company that fits your specific needs:
| Insurance Company | Term Life | Whole Life | Universal Life | Final Expense | Guaranteed Issue |
|---|---|---|---|---|---|
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✅ | ✅ | ✅ | ✅ | ✅ |
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✅ | ✅ | ✅ | ✅ | ✅ |
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✅ | ✅ | ✅ | ❌ | ❌ |
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✅ | ✅ | ✅ | ✅ | ✅ |
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✅ | ✅ | ✅ | ✅ | ✅ |
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✅ | ✅ | ✅ | ✅ | ✅ |
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✅ | ✅ | ✅ | ❌ | ❌ |
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✅ | ✅ | ✅ | ❌ | ❌ |
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✅ | ✅ | ✅ | ✅ | ✅ |
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✅ | ✅ | ✅ | ✅ | ❌ |
Companies like AIG and Prudential stand out for their wide range of options, including guaranteed issue and universal life policies, which cater to individuals seeking flexibility. MassMutual and Mutual of Omaha excel in whole life insurance, offering policies with cash value growth and simplified application processes.
For affordable term life coverage, State Farm leads with rates starting at $18/month and flexible terms up to 30 years. Whether you need basic protection or more comprehensive coverage, these providers offer solutions to meet your life insurance goals.
How to Qualify for Life Insurance Discounts and Rewards
The top 10 life insurance companies offer discounts that can help lower your monthly payments. Use this table to explore the discounts available:
| Insurance Company | Bundling | Healthy Lifestyle | Group/Employer | Auto-Pay |
|---|---|---|---|---|
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15% | 5% | 10% | 5% |
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10% | 8% | 7% | 6% |
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12% | 6% | 8% | 5% |
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10% | 7% | 8% | 6% |
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15% | 5% | 10% | 7% |
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12% | 6% | 9% | 5% |
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10% | 7% | 8% | 6% |
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14% | 5% | 10% | 6% |
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13% | 6% | 9% | 5% |
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20% | 10% | 9% | 7% |
By meeting certain conditions, you can save money while getting valuable coverage. If you're looking for the best life insurance for adults, here’s how you can qualify for life insurance discounts:
- Stay Healthy: Keeping a healthy lifestyle can lower your insurance costs. Companies like State Farm, AIG, and Pacific Life reward healthy living habits.
- Be a Non-Smoker: Non-smokers pay much less for life insurance. Providers like John Hancock, MassMutual, and Northwestern Mutual offer big savings for those who avoid tobacco.
- Bundle Policies: You can save money by combining life insurance with other types of insurance, like auto or home. Lincoln, New York Life, and Mutual of Omaha give multi-policy discounts.
- Stay Loyal: Sticking with the same company can reduce your premiums over time. State Farm and New York Life offer loyalty rewards for long-term customers.
- Join Special Programs: Some companies have special rewards programs. John Hancock’s Vitality Program, for example, gives discounts for living a healthy lifestyle.
Qualifying for life insurance discounts can help you secure great coverage at a lower price. Focus on staying healthy, avoiding tobacco, and bundling policies to maximize savings.
Read More: Top 5 Ways to Save Money on Your Homeowners Insurance Premium
Easy Steps to Compare Life Insurance Quotes Online
Comparing life insurance quotes from online marketplaces for insurance is an easy way to find the best coverage at the lowest price. Start by gathering your personal details like age, gender, health history, and lifestyle habits so companies can provide accurate quotes.
Next, decide the type of life insurance you need, such as term or whole life, and how much coverage you want. Look closely at the quotes and realize that common life insurance claims in your area will impact your quotes. This table breaks down the cost of life insurance claims in the U.S.:
| Claim Type | Portion of Claims | Cost per Claim |
|---|---|---|
| Surrender Benefits | 45% | $34,686,509 |
| Disability Benefits | 18% | $12,838,938 |
| Death Benefits | 22% | $15,441,939 |
| Annuity Benefits | 10% | $7,416,768 |
| Other Benefits | 5% | $5,938,760 |
Comparing monthly costs, coverage amounts, and extra features can help you find affordable life insurance that meets your needs and budget.
Securing the Best Life Insurance for Your Future
The best life insurance companies are State Farm, AIG, and Prudential. State Farm leads with exceptional customer satisfaction, affordable term life policies starting at $18/month, and flexible riders.
In a thread discussing the best life insurance, Reddit users shared their experiences and recommendations for various providers, highlighting affordability and reliability.
What are the best life insurance options?
byu/UploadedMind inFinancialPlanning
Take the time to research the benefits of buying life insurance and compare quotes online to make an informed decision. Free instant life insurance quotes are just a click away. Enter your ZIP code to get started.
Frequently Asked Questions
How can I choose the right type of life insurance?
Choosing the right life insurance depends on your financial goals. Term life is best for temporary needs like paying off debt or covering income loss, while whole life provides lifelong protection with savings potential. You can also find life insurance companies that cover funeral expenses.
What factors affect life insurance premiums?
Premiums depend on factors like age, health, lifestyle, policy type, coverage amount, and term length. Maintaining good health and avoiding risky habits can lower your rates. Enter your ZIP code to find life insurance that doesn’t break the bank.
Can I change my life insurance policy later?
Yes, many policies allow adjustments, like increasing coverage, adding riders, or converting a term policy to whole life. Check your policy terms to see what changes are allowed.
How much life insurance coverage do I need?
A common rule is to have coverage equal to 10-15 times your annual income. Consider debts, living expenses, future education costs, and your family’s long-term financial needs when deciding. Learn more about term life insurance and what it covers.
What happens if I miss a life insurance payment?
Most insurers offer a grace period, usually 30 days, to make missed payments. If you don't pay within this time frame, your policy may lapse, leaving you without coverage.
Can I get life insurance if I have pre-existing conditions?
Yes, there are many life insurance companies that specialize in higher risk. However, your premiums may be higher, and coverage options could be limited based on the severity of the condition.
What are life insurance riders and should I get one?
Riders are optional policy add-ons that provide extra benefits, such as coverage for critical illness, disability, or accidental death. They offer extra protection but increase your premium.
Is life insurance taxable?
In most cases, life insurance payouts to beneficiaries are not taxable. However, if the policyholder's estate exceeds federal tax limits, estate taxes could apply.
How does life insurance work for seniors?
How does age affect life insurance rates? Seniors can still get life insurance, though premiums may be higher due to age. Final expense or guaranteed issue policies are popular options for seniors needing basic coverage.
How long does it take to get life insurance approved?
Approval time varies by insurer and policy type. Simplified issue policies may be approved in days, while fully underwritten policies requiring medical exams can take several weeks.
Is Ethos Life a good insurance company?
Yes, Ethos Life is a good company for its simple online application, no medical exam for most policies, and affordable term life insurance options. However, it mainly offers term life coverage, so it may not be the best choice if you want whole life insurance.
What is the most recommended life insurance?
The most recommended life insurance depends on your needs. Term life is great for affordability and temporary coverage, while whole life is ideal for lifetime protection and cash value. Companies like State Farm for term life and Mutual of Omaha for whole life are often highly recommended.
How much does a $1,000,000 life insurance policy cost per month?
A $1,000,000 term life policy typically costs $25 to $100 per month for healthy individuals, depending on age and term length. Whole life policies for the same amount can cost $1,000 or more per month due to lifetime coverage and cash value.
How much a month is a $500,000 whole life insurance policy?
A $500,000 whole life policy usually costs between $350 and $700 per month, depending on your age, health, and the insurance company.