Key takeaways
Lemonade is our top pick for the best online life insurance with a wide range of term lengths and millions of dollars in coverage available.
Consider Ladder if you need adjustable coverage or Fabric if you’re a parent looking for a term life policy with financial planning perks. Lincoln Financial stands out for its policy add-ons, while Erie has a rare instant whole life policy.
Reviewed monthly. Last updated: December 2025.
It used to take weeks to get life insurance coverage. While that’s still true for traditional policies, some insurers now offer instant life insurance. Also known as “fast life insurance,” these are policies you can apply for online and often get a decision within minutes.
To find the best instant life insurance options, our experts analyzed insurers who sell life insurance online and offer at least $100,000 in coverage. We then assessed policy features, age eligibility and available riders. We also considered the amount of coverage you can buy without taking a medical exam.
The best online life insurance companies of 2026
Insurer | NerdWallet rating | Instant coverage available | |
|---|---|---|---|
Best overall | $100,000 to unlimited. | ||
Best for adjustable coverage | $100,000 to $3 million. | ||
Best perks for parents | $100,000 to $1.5 million. | ||
Best for policy add-ons | $100,000 to $2.5 million. | ||
Best for instant whole life | $10,000 to $500,000. | ||
NerdWallet rates insurers at the company level, not the policy level. This means our star rating reflects the company as a whole, and not its instant life insurance policy specifically. | |||
Best overall: Lemonade
Male
$28 /month
Female
$24 /month
Why this insurer made the list: Lemonade offers an unlimited amount of term life insurance online to eligible applicants, with many policies going into effect on the same day.
Rating Breakdown
Financial strength rating
Exceptional
Online purchase
Yes
NAIC complaints
Fewer than expected
Policies offered
Term & no-exam
About Lemonade instant life insurance
Lemonade offers term life insurance lasting 10, 15, 20, 25, 30, 35 or 40 years in all states except New York. Lemonade’s life insurance is backed by Legal & General (a.k.a. Banner Life), an insurer with exceptionally strong financials and a track record of low complaints.
Policy name: Term Life Insurance.
⏳Term lengths: 10, 15, 20, 25, 30, 35 or 40 years.
Coverage amount: $100,000, with unlimited coverage amounts available for qualifying applicants.
Age eligibility: 20 to 75.
Riders: N/A.
Online experience: Lemonade’s site is refreshingly easy to navigate and skips the maze of menus in favor of simplicity and transparency. You’ll find policy details front and center, including coverage amounts. The quote tool button glows brightly on the page and takes you to Maya, a chatbot that will walk you through the application process. Once you’re a policyholder, Lemonade has a highly-rated app that allows you to manage your policy and make payments.
What to know about applying for a policy: To apply, you’ll fill out a quick online application that asks basic questions about your health and lifestyle. If you’re approved, your policy could be issued within minutes. However, Lemonade’s site is clear that some people might be asked to take a medical exam to secure more affordable rates.
Where this insurer stands out: Lemonade’s 40-year terms and unlimited coverage amounts are something you’ll struggle to find from other life insurers. It is for these reasons Lemonade won NerdWallet’s Best Same-Day Term Life Insurance Award for 2026.
» Read the full review: Lemonade life insurance
Best instant adjustable coverage: Ladder
Male
$33 /month
Female
$29 /month
Why this insurer made the list: Ladder issues instant term life insurance policies nationwide, with coverage amounts you can adjust any time.
Rating Breakdown
Financial strength rating
Exceptional
Online purchase
Yes
NAIC complaints
Fewer than expected
Policies offered
Term & no-exam
About Ladder instant life insurance
Ladder’s straightforward site offers a quick application process with term life insurance policies available in minutes. The company issues generous coverage amounts up to $3 million without a medical exam.
Policy name: Term Life.
⏳Term lengths: 10, 15, 20, 25 and 30 years.
Coverage amount: $100,000 to $3 million.
Age eligibility: 18 to 60.
Riders: N/A.
Online experience: Ladder’s mobile-friendly site features guides to life insurance and a calculator to help you decide how much coverage you need. The searchable FAQ section is helpful, but you won’t find pricing details on the site. The company’s online portal allows policyholders to manage their life insurance, but there’s no mobile app.
What to know about applying for a policy: Ladder supports online quotes, but you can’t get a rate without providing the last four digits of your Social Security Number. For the application itself, you’ll have to answer additional health questions. You won’t be asked to take a medical exam (Ladder refers to it as a “health check”) unless you’re trying to lock down more than $3 million in term life insurance.
Where this insurer stands out: Ladder’s unique ability to adjust your coverage up or down is known as “laddering.” For instance, if you’ve paid off your mortgage, you could decrease coverage on your policy and Ladder would automatically lower your premiums. If you want to add coverage, you’ll have to meet certain eligibility requirements — like proving a change in income.
» Read the full review: Ladder life insurance
Best perks for parents: Fabric
Why this insurer made our list: This online-only platform makes it easy to apply for life insurance without a medical exam and offers perks for parents such as family financial planning tools.
Rating Breakdown
Financial strength rating
Exceptional
Online purchase
Yes
NAIC complaints
Close to expected
Policies offered
Term
About Fabric instant life insurance
From the same company that made children’s life insurance popular decades ago, Fabric by Gerber Life sells term life insurance online for all ages and promises you can apply in as little as 10 minutes. A wide range of term lengths and generous coverage amounts are available to those who qualify without a medical exam.
Policy name: Term Life Insurance.
⏳Term lengths: 10, 15, 20, 25 and 30 years.
Coverage amount: $100,000 to $5 million.
Age eligibility: 21 to 70.
Riders: N/A.
Online experience: The Fabric by Gerber Life website is easy to navigate. You can get an online quote and the digital application is speedy. Fabric earns extra points for sharing a peek at pricing, although it’s an average cost of the monthly premium for $100,000 in coverage for a 25-year old woman in excellent health. Most people in the market for term life insurance would need a policy worth more.
What to know about applying for a policy: While you probably won’t have to take a medical exam, Fabric says it’s possible depending on your answers to health questions.
Where this insurer stands out: Fabric’s app has several features that will appeal to parents, including free financial planning tools. You can also use the mobile app or online portal to create a free will, open a children’s investment account or sync your family’s finances.
» Read the full review: Fabric life insurance
Best for policy add-ons: Lincoln Financial
Male
$33 /month
Female
$27 /month
Why this insurer made the list: With Lincoln Financial you can customize your policy with three riders, which is unusual for instant life insurance.
Rating Breakdown
Financial strength rating
Strong
Online purchase
No
NAIC complaints
Fewer than expected
Policies offered
Term & permanent
About Lincoln Financial instant life insurance
Lincoln Financial lets you apply for a no-exam policy online or over the phone. Policyholders can upgrade to permanent coverage before their term policy expires or when they reach their 70th birthday, whichever comes first. The policy is guaranteed renewable up to age 95, which is fairly rare in the industry.
Policy name: TermAccel.
⏳Term lengths: 10, 15, 20 or 30 years.
Coverage amount: $100,000 to $2.5 million.
Age eligibility: 18 to 60.
Riders:
Child term.
Waiver of premium.
Accelerated death benefit.
Online experience: Lincoln Financial’s website may look a little old school, but it’s transparent about policy details including term lengths, riders and minimum and maximum coverage amounts for each of the company’s policies. The Lincoln Financial app gets lackluster reviews and doesn’t prioritize tools for policyholders. You can manage your policy and change beneficiaries via the online portal.
What to know about applying for a policy: Lincoln’s TermAccel supports a fully digital application. But note that this insurer says it may require lab work if you don’t meet certain qualifications. Its instant term policies are also not available to New Yorkers.
Where this insurer stands out: The insurer offers a child term rider that can cover multiple children under your policy. You can also add a waiver of premium rider or accelerated death benefit rider to your coverage for an additional fee.
» Read the full review: Lincoln Financial life insurance
Best for instant whole life: Erie
Why this insurer made the list: Erie offers a choice of term or whole life insurance, which is rare for instant policies.
Rating Breakdown
Financial strength rating
Strong
Online purchase
No
NAIC complaints
Fewer than expected
Policies offered
Term & permanent
About Erie’s whole instant life insurance
Erie’s instant life insurance policy is one of the most flexible on the market. You can choose between a term or whole life policy, which is unusual for online insurance companies.
Policy name: ERIExpress Life.
⏳Term lengths: 5, 10, 15, 20 or 30 years.
Coverage amount: $10,000 to $500,000.
Age eligibility: 18 to 55.
Riders: An accelerated death benefit rider is included at no extra charge.
Online experience: Erie’s website is pretty bare bones, but the company does share many of the details you’d need to know about the instant life insurance policies on offer, including coverage amounts and eligible ages. Once you’re a policyholder, you can use Erie’s mobile app to manage your insurance.
What to know about applying for a policy: You’ll have to connect with an agent to get a quote and apply for a policy. If you qualify, your coverage might go into effect the same day. Otherwise, you may need to take a medical exam. Keep in mind Erie Life Insurance only operates in the District of Columbia, Illinois, Indiana, Kentucky, Maryland, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia and Wisconsin.
Where this insurer stands out: In addition to being the only insurer on this list that offers instant whole life, Erie also allows you to buy small amounts of coverage, starting at $10,000, and offers a term as brief as five years. And if you already have auto and home insurance with Erie, you may be eligible for a bundling discount.
» Read the full review: Erie auto, homeowners and life insurance
How we rate the best life insurance companies
✅ 445 life insurers reviewed
📝 210 policies assessed
🔢 1,515 data points analyzed
📊 Star rating categories
When NerdWallet evaluates life insurance companies, our editorial team considers the insurer's strengths and weaknesses, as well as the things that matter most to customers buying a long-term financial product. We then weigh these factors carefully:
💰 Financial strength (35%). We use AM Best ratings to confirm an insurer’s financial stability and ability to pay claims far into the future. The top life insurance companies have an exceptional financial strength rating of A+ or A++ (Superior).
🗣️ Consumer complaints (35%). Our top-rated life insurance companies have fewer than the expected number of complaints to state regulators over a three-year period, according to the National Association of Insurance Commissioners — so you can expect a smoother customer experience.
☎️ Consumer experience (20%). Insurers who allow consumers to contact them by email, phone and live chat earn the highest scores. The same goes for insurers who support online quotes, beneficiary changes and claims.
👀 Transparency (10%). Our methodology gives higher scores to transparent insurers who clearly display information about their policy options, coverage amounts and term lengths (if applicable) on their site.
⭐ What our star ratings mean
Companies with 5 stars are exceptional, with strong financials, diverse policy lineups and great reputations for customer service.
Companies with 4.5 stars are excellent, with solid financials and policy offerings, and good customer service track records.
Companies with 4.0 stars are good, and potentially great for people looking for niche coverage options.
Companies with 3.5 stars or fewer could do better in certain categories, like financial strength and customer complaints.
NerdWallet does not receive compensation for our star ratings or our reviews. Read more about our life insurance ratings methodology and editorial guidelines.
What is instant life insurance?
Instant life insurance usually refers to any life insurance that you can apply for and purchase on the same day. Online life insurance companies usually offer instant term life insurance without a medical exam to those who qualify.
Because the application is streamlined and only requires a few health questions, it can usually be completed online — in some cases in just a few minutes.
Can I get life insurance completely online?
Yes. Just know that the cheapest rates for life insurance typically involve taking a medical exam and a more traditional underwriting process that can take several weeks.
What can I expect from an online life insurance application?
After you’ve gotten a quote and decided to apply, insurers may ask for additional details about your health to finalize your policy. Instant life insurance options usually rely on crunching data and using algorithms to determine your eligibility so a decision can be made within minutes, not days.
Once you’ve answered all the questions online, you’ll either be approved and offered a policy or denied coverage. In some cases, the insurer may require you to provide more information or take a medical exam before issuing a life insurance policy.
Pros and cons of instant life insurance
Pros
- Quick and convenient.
- No medical exams.
Cons
- Rates are typically higher.
- Older applicants and those with health concerns may not be eligible.
- Coverage amounts can be limited.
Alternatives to instant life insurance
Instant life insurance policies may not be the best fit for certain applicants. If you fit into one of the following categories, other types of coverage may be a better choice.
Older, with health issues ❤️🩹
Consider guaranteed issue life insurance, which doesn't require health questions or medical exams. These policies are generally small whole life policies marketed as burial insurance to cover final expenses. Approval is guaranteed if you’re within the eligible age range (typically 50 to 85). See our picks for the best burial insurance.
Healthy, on a budget 💸
If you're not in a hurry to get coverage, life insurance with traditional underwriting — including a medical exam — may be more affordable. You may also be eligible for a higher coverage amount. See our list of the best life insurance companies to get started.
More about top-rated life insurance companies
Looking for a different type of life insurance policy? Check out NerdWallet’s top picks across these categories:
Frequently asked questions
How much does instant life insurance cost?
How much does instant life insurance cost?
The cost of instant policies depends on the type of insurance as well as other factors such as your age and health. In general, instant term life insurance is more affordable than other types of online coverage, such as whole life insurance.
Is guaranteed issue life insurance the same as instant life insurance?
Is guaranteed issue life insurance the same as instant life insurance?
Instant life insurance is usually term life insurance sold same-day to qualified applicants. Guaranteed issue life insurance does have an expedited application process without health questions or a medical exam, so these policies are sometimes sold online — but they are usually small whole life policies and not term life insurance.
Is instant life insurance the only kind of life insurance that doesn't require a medical exam?
Is instant life insurance the only kind of life insurance that doesn't require a medical exam?
Depending on your age and health, there are a few other kinds of life insurance policies that won’t require a medical exam. These include traditional types of term and permanent life insurance. Check out our recommendations for the best no-exam life insurance.
