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Best life insurance companies

Compare the 10 best life insurance companies to find the best policy for you.

How did we choose these picks?

Finder’s life insurance experts have spent over 500 hours analyzing the top 100 life insurance companies, cutting through the noise of 780 insurers vying for your business. We base our life insurance rankings on each company’s financial soundness, customer satisfaction and coverage options. We factor in the latest AM Best financial ratings, J.D. Power customer satisfaction scores and the National Association of Insurance Commissioners complaint index.

To find the best life insurers, we rank every company we review with 1- to 5-star ratings. Finally, we exclude companies that don’t meet our standard — few states served, little policy customization or not enough information online to make an informed decision.

Best life insurance company overall

MassMutual

3.5
★★★★★

Finder score

Issue Age18 to 80
Coverage$2,000 to $10,000,000
Medical Exam RequiredDepends on policy

Best term life & riders

Lincoln Financial Group

3.5
★★★★★

Finder score

Issue Age18 to 60
Coverage$100,000 to $1,000,000
Medical Exam RequiredDepends on policy

Best whole life insurance

Guardian

4.5
★★★★★

Finder score

Issue Age18 to 75
Coverage$250,000 to $5,000,000
Medical Exam RequiredDepends on policy

Best no-exam life policies

Bestow

4
★★★★★

Finder score

Go to site
Issue Age18 to 60
Coverage$50,000 to $1,500,000
Medical Exam RequiredNo

Best for lenient underwriting

Legal & General

4
★★★★★

Finder score

Issue Age20 to 75
Coverage$100,000 to $10,000,000
Medical Exam RequiredYes

Best customer reputation

State Farm

4
★★★★★

Finder score

Issue Age18 to 75
Coverage$100,000 to $3,000,000
Medical Exam RequiredDepends on policy

Best for high net worth individuals

SBLI

4.5
★★★★★

Finder score

Issue Age18 to 60
Coverage$100,000 to $20,000,000
Medical Exam RequiredNot required for policies under $500,000

Best buying experience

Haven Life

4.5
★★★★★

Finder score

Read review
Issue Age20 to 64
Coverage$250,000 to $3,000,000
Medical Exam RequiredNo exams for some applicants

Best senior life insurance

New York Life

4.5
★★★★★

Finder score

Issue Age18 to 90
Coverage$100,000 to $25,000,000
Medical Exam RequiredYes

Best military and veteran life insurance

Navy Mutual

4
★★★★★

Finder score

Issue Age18 to 85
Coverage$10,000 to $1,000,000
Medical Exam RequiredNo

How do I choose the best life insurance company for me?

To find a policy that suits your situation and budget, ask these questions.

  • How much coverage can I buy? Some insurers cap their coverage at $500,000, while others will offer policies worth millions if you meet the criteria.
  • Can I add riders to my policy? If customizing your coverage with add-ons like an accelerated death benefit rider is important to you, look for an insurer that offers robust riders.
  • Do I need to take a medical exam? Most policies require a basic physical medical exam. But if you’d prefer not to take one, you can explore no-exam policies.
  • What term lengths are available? Depending on the insurer, you may be able to get coverage for as little as one year or as long as 30 years.
  • How much is it? Get quotes from multiple insurers to determine which company can offer you the policy you need at the best price.
  • How flexible is my policy? Life insurance is designed to evolve as your needs change, so check if you can purchase more coverage or convert to a policy later on.
  • What kind of service should I expect? Your life insurance company should have a reputation for being responsive and transparent.
  • Do I have a pre-existing condition? A pre-existing health condition is a disease or illness you had before applying for life insurance coverage. While a pre-existing medical condition can make it more challenging to find the level of coverage you seek, some companies will assess your risk factors and offer the right amount of coverage within your budget.

Best life insurance options after leaving the service

As a member of the Army, Navy, Air Force, Coast Guard or Marines, you’re automatically covered under the Servicemembers’ Group Life Insurance (SGLI) program. But when you leave the armed services, that coverage expires. These are the paths you can take to get coverage when you’re no longer in the military:

1. Convert SGLI to VGLI

You can keep the life insurance policy you had as an active-duty military member by converting to Veterans Group Life Insurance (VGLI). The timing is important. If you want to hold onto your benefits without going through the underwriting process, you’ll need to apply for VGLI within 240 days of leaving the service. After that, you will need to take a medical exam — and might be given higher rates or denied coverage as a result.

This option completely expires 485 days after you leave the military.

Since VGLI forgos the medical exam for the first 240 days, it’s best suited to veterans who have medical conditions that might otherwise disqualify them for coverage. This includes PTSD, disabilities, and neurological conditions. VGLI is also a solid choice for veterans in their 60s or above, who might pay a much higher premium with private life insurance.

2. Purchase private life insurance

If you opt to purchase a policy on your own, you have more control over your coverage. You can choose a term or permanent policy, and decide how much coverage you want to buy based on your family’s needs.

But to avoid any gaps in coverage, apply for a policy as soon as possible. Depending on your insurer, it can take between three and weeks to go through the underwriting process — or even longer if you have a complex medical history.

For example, if you’ve been diagnosed with post-traumatic stress disorder (PTSD), your insurer might want proof that you’re working on improving the condition. This could include providing prescriptions for medication, or listing any therapy or treatments you’re undergoing.

Can I keep SGLI if I’m disabled?

If you’re totally disabled at the time of discharge, you can apply to keep your SGLI coverage for two years after your service separation date. The scheme is called Servicemembers’ Group Disability Extension (SGLI-DE), and it’s available from the VA.

If the VA has given you a service-connected disability rating, you might be eligible to receive Service-Disabled Veterans Insurance (S-DVI). This provides $10,000 in coverage. And if you qualify for a waiver of premium, you can apply for the Supplemental S-DVI program, which offers an additional $30,000 in coverage.

Can a non-resident or non-citizen get life insurance in the US?

Yes. Your non-citizen status shouldn’t keep you from getting life insurance, although you might have to pay your annual premiums up front. And while your coverage options may depend on your resident classification, circumstances and country of origin, several insurance carriers are ready to work with you on a policy to provide coverage while you live in the US.

How your resident status affects life insurance

Insurance companies typically categorize your application and the rules surrounding your premium based in part on your resident classification. This shows the ties to your life in the US — or more accurately, how long you plan to stay and your interest in doing so.

Green card holders

As a permanent resident, you are treated the same as a US citizen for life insurance purposes. But as with all the details on your application, you should be honest about your classification.

Non-student visa holders

Visa holders can sometimes get life insurance, but you’ll face limited coverage offerings and hurdles throughout the application process.

  • Country of origin. Your country may prevent you from buying life insurance in another country, and the US government has placed restrictions on residents of specific countries, which could make you ineligible to buy life insurance from a US company.
  • Limited options. Depending on the insurance carrier, you may be limited to only purchasing permanent life insurance, and some companies require you to buy at least a $250,000 policy.
  • Visa requirements. Each company will have a list of the visa types that it accepts.
  • Residency requirements. The longer you’ve lived in the US, the more life insurance options are open to you. If you’ve lived in the US for less than a year, you may have trouble finding coverage, but it’s still possible.

Student visa holders

It can be much harder to get life insurance as a student, because student visas are temporary, and students usually lack business or work ties to the communities where they live. Additionally, your amount of life insurance coverage is tied to your income. If your income is too low, you may not qualify to purchase the minimum amount of coverage required for non-citizens, which is usually $250,000.

Children with citizenship

If you’re a non-citizen, having a child who is a US citizen can increase your chances of finding a life insurance policy, because that establishes your significant interest in staying in the US.

Does it matter which country I’m from?

Yes. Both the laws of your country and the US can prevent you from purchasing life insurance. There are also some states, provinces and territories within countries that allow or disallow purchase of US life insurance.

Countries that disallow purchase of US life insuranceCountries the US Government disallows from buying US life insurance
ArgentinaAfghanistan
BelgiumCambodia
FranceColombia
GreeceCuba
JapanHaiti
PanamaIraq
PolandLebanon
SwitzerlandMyanmar
UruguayNorth Korea
VenezuelaRussia
Sudan

Additionally, life insurance companies use letter ratings to assign risk classifications to countries of origin:

  • “A” countries. Applicants from these countries have the most life insurance options available to them, similar to if they were US citizens.
  • “B” countries. Applicants qualify for a slightly lower rating than from A countries, but still have most options available to them.
  • “C” countries. Applicants may need to go through an agent or broker to find the best options, and many insurers won’t offer policies to non-citizens from these countries. Also, you most likely won’t be able to buy term life insurance.
  • “D” countries. Life insurance isn’t impossible for applicants from these countries, but it can be difficult to obtain — and you’ll have to show highly significant financial ties to the US to qualify.

More top life insurance companies

If none of these companies are the right fit, try drilling down to a specific category:

Bottom line

The insurers on this list stand out for their policy lineups, customizable coverage or catering to specific people. They’re also backed by strong financial and customer service ratings.

It pays to do your own research and compare life insurance companies.

Get quotes from even more life insurance companies

Narrow down top life insurance policies by comparing life insurance companies’ perks and benefits, and select view rates to get a quote.

Life insurance ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

Our experts analyze life insurance companies to help you to find the strongest possible policy and premium for your family’s needs. We assess their financial strength, customer satisfaction, policy features and riders. We then give each insurer a score between one and five stars that reflects their offering and reputation in the industry.

Learn more about our methodology here.

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Written by

Writer

Katia Iervasi is a lead writer and spokesperson at NerdWallet and a former editor at Finder, specializing in insurance. Her writing and analysis on life, disability and health insurance has been featured in The Washington Post, Forbes, Yahoo, Entrepreneur, Best Company and FT Advisor. She holds a BA in communication from Australia's Griffith University. See full bio

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