You must include life insurance in your financial strategy to safeguard your family. However, with so many alternatives, finding the right life insurance may be difficult.

Pacific Life and Protective were among the finest life insurance providers, achieving five stars in our term life and cash value policy review of 16 businesses. A database of almost 9,000 policies was utilized to rate cost, historical performance, financial soundness, and monetary value.

Our Best Life Insurance Choice

We assessed term and permanent policy cost competitiveness, illustration dependability, cash value growth speed, and more. We provide impartial reviews and information from our editors. Our editorial material is uninfluenced by ads, and we utilize data-driven methods to score all firms fairly. Read about our editorial rules and grading process below.

Top Term Life Insurance Companies

Corebridge Financial, Pacific Life, Protective, and Symetra provide the finest term life insurance. Term life insurance is suitable for tackling limited financial issues like retirement.

Best Whole Life Insurers

Our review of whole life insurance shows State Farm is best. Fixed premiums, death benefits, and cash value growth are hallmarks of whole life insurance.

Top Universal Life Insurance Companies

Our investigation shows Penn Mutual is the best universal life insurer. Under certain conditions, universal life insurance provides customizable premium payments and death benefits.

The Best No-Exam Life Insurance Companies

Our no-exam life insurance research ranks Brighthouse Financial, Legal and General America, Pacific Life, and Transamerica highest. No-exam life insurance lets you avoid the medical test.

Cheapest Life Insurance Companies

We recommend Symetra as the lowest life insurance company.

Life insurance costs how much?

For a 20-year, $500,000 term life insurance policy for a 30-year-old woman, our study firms charge $207 a year. This coverage averages $251 a year for a male buyer of the same age.

A 30-year-old woman with $500,000 in full life insurance pays $3,945 annually. Average annual premium for a male buyer of the same age is $4,375.

Life insurance costs depend on policy type, business, age, health, gender, coverage, and other variables.

Life insurance excludes?

Suicide clauses are common in life insurance. This provision excludes suicide in the first two years of the coverage.

Except for the suicide provision, life insurance plans pay the death benefit regardless of the reason until the insurer proves deception or the insured ceases paying premiums. Life insurers may refuse claims if they uncover a known health condition that the policyholder did not report. If the insurance fails owing to nonpayment, they may withhold compensation.

Can I purchase life insurance for someone else?

If you can show a “insurable interest” in someone, you may buy life insurance on them. An insurable interest implies you would lose money if they died. The insured must sign the application. Someone’s policy cannot be bought without their consent.

If you acquire life insurance on someone else, you might be the beneficiary.

Can I utilize life insurance while alive?

Cash value life insurance may be used while alive. You may borrow, withdraw, or surrender the insurance to get cash value.

If your life insurance policy offers living benefits, you may utilize them while alive. If you fulfill health conditions, living benefits let you receive your death benefit. Terminal, chronic, and critical disease policyholders often get living benefits.