Life insurance can help your family cover final expenses, education fees, loss of income, or any other financial need.
Below, you’ll find our selection of the best life insurance companies for this month. We’ve called out their distinctions, along with the various policies and premiums provided.
The best life insurance for you will depend on your financial goals, budget and how much cash value you want to build within a policy. We used data provided by Veralytic, an independent provider of life insurance research and analysis, to find the best life insurance companies.
Best Life Insurance Companies Reviews
If you’re the main provider for your family or are worried about their financial future if you were to pass, a life insurance policy can provide peace of mind.
Bestow
Bestow issues term life insurance more quickly and easily than most companies, and it offers an unusually high death benefit for policies that do not require a medical examination.
Bestow is our choice for individuals that want to get life insurance coverage but don’t want to go through the hassle of a medical exam. The company sells term insurance policies (and only those), so you can apply online and purchase a policy without visiting a doctor or having tests such as bloodwork done. You can get up to $1.5 million in coverage, a higher maximum than other no-exam policies.
The company uses your personal information and your answers about your medical history, hobbies and lifestyle to determine your eligibility for life insurance and your rates. Bestow claims you can get a quote and purchase a policy within minutes, all online.
Bestow policies are issued by top-rated insurer North American Company for Life and Health Insurance. Additionally, life insurance from Bestow is now embedded into Lemonade’s app and website. Bestow also offers a comprehensive library of helpful information.
Ethos
Ethos stands out as a life insurance provider for accommodating a wide range of potential applicants, including those who may have struggled to qualify for insurance in the past – such as older individuals. Also, prospective customers can receive a quote within minutes without needing to talk to an insurance agent.
Ethos uses either simplified issue and fully underwritten methodology for its term policies, and guaranteed issue underwriting for its whole life insurance policies (no company we know of offers term policies with guaranteed coverage).
The guaranteed issue whole life policy is available to individuals between 65 and 85. Applicants can obtain instant approval for up to $25,000 of coverage, regardless of their medical history.
Most include an accelerated death benefit rider that allows policyholders to tap into a portion of their benefits if diagnosed with a terminal illness.
Policygenius
As a comprehensive online life insurance marketplace, Policygenius offers one-stop access to both term and whole life policies from a wide range of partners, including some of the best life insurance companies mentioned on our list. Unlike some other comparison sites, this one pledges not to sell your information to third parties.
Policygenius takes the top spot as the best comparison tool and broker for its satisfying provision of one-stop shopping from a range of insurers. Policygenius’s partners include such names as AIG, Banner Life, Brighthouse, John Hancock, Lincoln Financial, Mutual of Omaha, Pacific Life, Principal, Protective, Prudential, SBLI and Transamerica.
This online marketplace also offers an extensive library of educational resources for those new to life insurance, including recommendations for life insurance for people who suffer from depression and diabetes. Coupled with its broad range of coverage options such as term or permanent coverage policies, these resources make Policygenius a standout option for comparing life insurance quotes.
If you need help choosing the right policy or coverage amount, PolicyGenius’ agents can give you personalized assistance. They are paid by salary rather than commission, the company says, so they aren’t incentivized to oversell or to direct you to certain products that may earn them a higher commission.
Haven Life
Haven Life provides an unusually wide range of term life insurance options, including plans with especially high death benefits. Its plans also include additional perks such as online services to create a will.
Haven Life gets our nod for the best term insurance coverage because of its impressive array (10-, 15-, 20-, 25- and 30-year) of policy terms, along with coverage amounts that range from $100,000 to $3 million.
Haven Life offers two types of term life insurance policies: Haven Term and Haven Simple. Haven Term includes Haven Life Plus, a rider that provides access to an online service to develop a will or trust, fitness and sleep tracking apps and an online storage vault for important documents.
Applicants who are younger than 64 can get up to $3 million of coverage through Haven Term. Haven Simple is only available for applicants aged 20-55 and includes the Accelerated Death Benefit rider.