Life insurance is a great way to protect your family or leave a legacy. It can cover funeral expenses, medical expenses, or long-term expenses like mortgage payments while your estate is being settled. But the way to get life insurance can be different. We’ve reviewed options for young, healthy people looking for quick coverage online, and for people over 50 or in poor health who need to work with an agent to get coverage. they want.
Best Life Insurance Companies of 2023
Best Overall: Nationwide
Runner-Up, Best Overall: MassMutual
Best Term Life Insurance: Protective
Tied for Cheapest Term: Banner
Best User Experience: Haven Life
Most Universal Life Options: Lincoln Financial
Best for Policy Customization: Transamerica
Best Life Insurance Living Benefits: Mutual of Omaha
Best Whole Life Insurance: New York Life
Best for Military: USAA
Best Educational Resources: Prudential
Best for Financial Stability: Northwestern Mutual
Best for Customer Satisfaction: State Farm Life Insurance
Best Dividend-Paying Whole Life Insurance: Penn Mutual
Final Verdict
When choosing a life insurance company, you will be hard-pressed to go wrong with any of the companies on this list. But if you’re not sure what type of font you want, start with Nationwide. It simplifies the process with an online application, a variety of policies, and up to $5 million in health insurance for qualified applicants.
Most of the companies on this list have received at least an A+ (Excellent) rating from AM Best for financial strength. But if the best will do, MassMutual, Guardian, USAA, New York Life, State Farm, and Northwest all have A++ (Superior) AM ratings. Many are also strong options for shared payment plans.
If you need term life insurance, Protection or Standard is the best option. And for a comprehensive policy with no benefits, consider Mutual of Omaha, Nationwide, or USAA (if you’re in the military).
