Key takeaways
Guardian is our best pick overall, specifically for affordable term life insurance.
MassMutual is best if you want whole life insurance with a solid cash value growth rate, while New York Life stands out for its offerings for seniors.
Northwestern Mutual scores points for universal life insurance and Lemonade is our choice for instant coverage.
Reviewed weekly. Last updated: December 2025.
A life insurance policy can be a long-term purchase, so it’s a good idea to compare your options carefully. NerdWallet’s editorial team reviewed over 50 insurers to make our picks for the best life insurance companies in the U.S.
Here’s our shortlist based on financial strength, transparency and customer experience. We’ve also highlighted standout features of the best life insurance policy from each of our top-rated life insurance providers.
Best life insurance companies in 2026
Insurer | NerdWallet rating | Types of life insurance available | |
|---|---|---|---|
Best overall and term life insurance | Term, whole, universal and variable. | ||
Best whole life insurance | Term, whole, universal and variable. | ||
Best for seniors | Term, whole, universal and variable. | ||
Best universal life insurance | Term, whole, universal and variable. | ||
Best instant life insurance coverage | Term and no exam. | ||
Best for veterans | Term, whole and universal. | ||
NerdWallet rates insurers at the company level, not the policy level. This means our star rating reflects the company as a whole. | |||
Best life insurance company overall: Guardian
Male
$31 /month
Female
$26 /month
Why this insurer made the list: Guardian sells a mix of term and permanent policies at affordable rates and tailors life insurance coverage for people living with HIV.
Rating Breakdown
Financial strength rating
Exceptional
Online purchase
No
NAIC complaints
Fewer than expected
Policies offered
Term & permanent
Why we picked it: Guardian stands out for its more relaxed underwriting standards and is known for making life insurance accessible for people living with health conditions like HIV. If you have a health condition, you might have an easier time getting approved or qualifying for better rates with Guardian.
Guardian also has relatively low complaint rates, and it’s a mutual life insurance company, meaning some policyholders can earn dividends based on its financial performance.
📄 Policies offered: Term, whole, universal and variable universal.
⭐ Standout life insurance policy: Guardian offers $100,000 to $10 million of term life insurance for qualifying HIV-positive applicants.
Riders available:
Accelerated death benefit.
Accidental death benefit.
Waiver of premium.
DuoGuard (beneficiary purchase option).
Guaranteed insurability.
Paid-up additions.
Index participation feature.
Lifetime protection builder.
Long-term care.
Policy split option.
10-year annually renewable term.
Online experience: Guardian has a website with a lot of general information about life insurance, but very few policy-specific details. And while you can get a quote online, you’ll have to contact Guardian to purchase a policy.
What to know about applying for a policy: Guardian highlights its offerings for people with certain health conditions, but usually requires a medical exam for most life insurance policies.
Who it’s best for: Guardian is a good first stop if you’re shopping for affordable term life insurance and have a health condition.
More Nerdy Perspective
Guardian is a trustworthy pick for life insurance across a range of categories. Thanks to its credentials, it made more of our “best company” lists for 2026 than any other insurer.
» Read the full review: Guardian life insurance
Best whole life insurance: MassMutual
Male
$36 /month
Female
$30 /month
Why this insurer made the list: MassMutual offers term and a range of permanent life insurance, and boasts high cash value growth rates.
Rating Breakdown
Financial strength rating
Exceptional
Online purchase
No
NAIC complaints
Far fewer than expected
Policies offered
Term & permanent
Why we picked it: MassMutual gets top marks for whole life insurance in NerdWallet’s life insurance scoring, and its financial strength ratings offer confidence that it’ll be around in the future. You can get a variety of policy types from MassMutual, including traditional term and whole life insurance and more flexible options such as variable universal.
MassMutual is a mutual company, which means it’s owned partly by policyholders and pays out dividends to eligible members. And those members appear satisfied — MassMutual gets some of the fewest customer complaints in the industry.
📄 Policies offered: Term, whole, universal and variable universal.
⭐ Standout life insurance policy: MassMutual’s Whole Life 100 offers a generous guaranteed cash value return rate for a whole life insurance policy and is open to applicants ages 0 to 90.
Riders available:
Accelerated death benefit.
Waiver of premium.
Paid-up additions.
Long-term care access.
Guaranteed insurability.
Renewable term.
Life insurance supplement.
Yearly term purchase.
Online experience: MassMutual supports online applications for some types of life insurance policies, but you’ll need to work with a financial professional to buy one. MassMutual policyholders can also file claims and make payments online.
What to know about applying for a policy: Like many insurers on this list, MassMutual often requires a medical exam to qualify for coverage.
Who it’s best for: People who want the security of lifelong coverage, such as parents caring for disabled children, should consider MassMutual’s whole life policies.
More Nerdy Perspective
The cash value of whole life insurance builds slowly but steadily, with most insurers capping annual returns at 1% to 3.5%. MassMutual’s guaranteed growth rate is more generous, falling in the realm of 2% to 3.75%.
» Read the full review: MassMutual life insurance
Best for seniors: New York Life
Male
$36 /month
Female
$30 /month
Why this insurer made the list: New York Life offers a wide variety of policies and boasts few consumer complaints, making it a strong life insurance choice for a wide range of buyers, especially seniors.
Rating Breakdown
Financial strength rating
Exceptional
Online purchase
No
NAIC complaints
Fewer than expected
Policies offered
Term & permanent
Why we picked it: In addition to its variety of policy options, New York Life has a strong lineup of riders to help you customize your coverage. The company also offers guaranteed issue policies for older adults through its partnership with AARP.
New York Life has few complaints for an insurer of its size and performed well in the most recent J.D. Power life insurance customer satisfaction survey, ranking #8 out of 22 insurers.
📄 Policies offered: Term, whole, universal and variable universal.
⭐ Standout life insurance policy: New York Life’s custom whole life insurance policy gives you the flexibility to pay it off early, eliminating stress on tight budgets during retirement years.
Riders available:
Spouse’s paid-up rider.
Disability waiver of premium.
Accelerated death benefit.
Long-term care.
Paid-up additions.
Accidental death benefit.
Extended term insurance.
Child’s protection benefit.
Insurance exchange.
5-year level term.
Online experience: New York Life’s website is easy to navigate and is incredibly transparent about the company’s policies. And while you’ll have to work with an agent to get a quote or purchase coverage, policyholders can file claims or change beneficiaries via the online portal.
What to know about applying for a policy: You’ll need to contact an agent to apply for a life insurance policy through New York Life, and most policies require a medical exam. The exception to this is the guaranteed issue life insurance New York Life offers to AARP members and their spouses.
Who it’s for: If you’re an older adult trying to customize life insurance to meet your family’s needs, you’ll find New York Life’s variety of policies and riders appealing.
More Nerdy Perspective
As someone who spends a lot of time on insurer sites, New York Life stands out for laying out a lot of detail about its policies. This kind of transparency is impressive in the industry, and makes it easier to research your life insurance options.
» Read the full review: New York Life insurance
Best universal life insurance: Northwestern Mutual
Male
$40 /month
Female
$38 /month
Why this insurer made the list: The biggest life insurer in the country, Northwestern Mutual offers term and permanent life insurance. It has one of the lowest complaint ratios of the life insurers we review.
Rating Breakdown
Financial strength rating
Exceptional
Online purchase
No
NAIC complaints
Far fewer than expected
Policies offered
Term & permanent
Why we picked it: Northwestern Mutual has better complaint rates than most of the life insurance companies NerdWallet reviews. It’s also consistently a top performer on J.D. Power studies of customer satisfaction with individual life insurance policies.
Like the other companies on our list, Northwestern Mutual is a mutual life insurance company, so it’s owned by customers rather than shareholders and may pay dividends to those who qualify.
📄 Policies offered: Term, whole, universal and variable universal.
⭐ Standout life insurance policy: Northwestern Mutual’s Custom Universal Life policy lets you adjust the death benefit and premiums so your coverage can evolve as your needs change.
Riders available:
Long-term care.
Waiver of premium.
Guaranteed insurability.
Online experience: Northwestern Mutual’s site is simple to navigate with a blend of general information about insurance and some policy specific details. However, you won’t be able to purchase a life insurance policy online.
What to know about applying for a policy: If you’d like to get a quote or apply for a policy, Northwestern’s site will ask you about your financial goals, age, location, household income, phone number and email address. You’ll be paired with an advisor who will contact you to continue the application process. Most policies require a medical exam.
Who it’s for: Northwestern Mutual is a top choice for those who want the flexibility of universal life insurance from a top-rated insurer.
More Nerdy Perspective
Policyholders can file complaints to state insurance regulators, and the National Association of Insurance Commissioners (NAIC) collects that data. We analyzed three years’ worth of consumer complaint data, and Northwestern Mutual had the lowest ratio of the 50-plus insurers we review. This is even more noteworthy given it’s the biggest life insurer in the U.S.
» Read the full review: Northwestern Mutual life insurance
Best instant life insurance: 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
Why we picked it: Lemonade offers term life insurance in five year increments lasting from 10 to 40 years in all states except New York. You can apply for coverage online by answering a few basic questions about your health and lifestyle.
The insurer is backed by Legal & General (also known as Banner Life), a longstanding and financially strong insurer with a track record for low complaints.
📄 Policies offered: Term and no-exam.
⭐ Standout life insurance policy: Lemonade’s 40-year term life policy is an exceptional offering in the insurance industry. Most insurers only offer term life insurance with lengths of 30 to 35 years.
Riders available:
Accidental death benefit.
Accelerated death benefit.
Children’s life insurance.
Term rider.
Waiver of premium.
Online experience: Lemonade’s website is sleek and user-friendly, and you can get down to business and start a quote right on the homepage. Lemonade’s FAQ section has a lot of useful information but there’s no live chat for prospective customers (only existing ones). Instead, you’ll be offered Maya the chatbot to answer questions and provide support.
What to know about applying for a policy: If you’re approved, your policy may be issued within minutes. Applicants who are approved can get coverage starting at $100,000 and going into the millions without a medical exam.
Who it’s for: Because Lemonade offers a quick and convenient option to secure term life insurance, it’s a great fit for healthy, busy professionals and young families.
More Nerdy Perspective
Lemonade won NerdWallet’s Best Same-Day Term Life Insurance Award for 2026 for the third year running. It earns top marks for its term length options spanning 40 years as well as its ability to issue millions of dollars in life insurance coverage online with no exam.
» Read the full review: Lemonade life insurance
Best for veterans: USAA life insurance
Male
$32 /month
Female
$37 /month
Why this insurer made the list: USAA offers a variety of life insurance policies and you don’t have to be a military member or veteran to qualify.
Rating Breakdown
Financial strength rating
Exceptional
Online purchase
No
NAIC complaints
Fewer than expected
Policies offered
Term, permanent & no-exam
Why we picked it: USAA’s life insurance policies are available to anyone, but they offer special perks for veterans, active duty military members and their families. USAA’s term life insurance policies also offer the chance to buy extra coverage after certain life events or when you leave the military without a medical exam.
USAA has exceptional financial strength and low complaint rates, making it a good value for most life insurance shoppers. Note its universal life policies are issued by John Hancock and not available in New York. The company’s guaranteed issue life insurance comes from Mutual of Omaha and isn’t available in Montana.
📄 Policies offered: Term, whole, universal and no-exam.
⭐ Standout life insurance policy: USAA’s Eagle Express term life policy offers same-day coverage without a medical exam and is available to applicants between the ages of 18 and 70.
Online experience: USAA’s website offers basic policy information and tools to calculate how much coverage you need. You can get a quote online and the company offers a mobile app for policyholders.
What to know about applying for a policy: USAA does offer some guaranteed issue policies that skip the medical exam. Depending on your answers to a few health questions, a medical exam may be required for other types of life insurance.
Who it’s for: While USAA has a strong lineup of policies that are a good choice for many life insurance shoppers, active-duty military members, veterans and their families will benefit the most.
More Nerdy Perspective
With most term policies, you’re locked in to the amount of life insurance coverage you had at the time of purchase. USAA offers a little more flexibility, allowing you to top up your policy by up to $100,000 if your needs change. This might come in handy if you take on a new financial obligation, like a mortgage, and want your coverage to account for that.
» Read the full review: USAA 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.
Best term life insurance companies in 2026
Term life insurance provides temporary coverage for a set number of years, usually one to 30. It’s the cheapest and most popular type of coverage, and insurers can stand out for offering affordable prices, riders and more.
Insurer | NerdWallet rating | Term lengths available | |
|---|---|---|---|
Best for health conditions | 1, 10, 15, 20 and 30 years. | ||
Best for renewable policies | 1, 10, 15 or 20 years. | ||
Best for military members | 10, 15, 20, 25 or 30 years. | ||
Best for customer experience | 1, 10 or 20 years. | ||
Best for conversion options | 10, 15, 20 and 30 years. | ||
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 term life insurance policy specifically. | |||
Best whole life insurance companies in 2026
Whole life insurance typically lasts your entire life. As a type of permanent life insurance, it also builds cash value over time. We’ve compared whole life companies based on factors like coverage flexibility and the potential to earn dividends.
Insurer | NerdWallet rating | Dividends available | |
|---|---|---|---|
Best for health conditions | Yes. | ||
Best for custom coverage | Yes. | ||
Best for boosting coverage | No. | ||
Best for hybrid whole life policies | Yes. | ||
Best for cash value growth | Yes. | ||
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 whole life insurance policy specifically. | |||
Best no-medical-exam life insurance companies in 2026
With no-medical-exam life insurance, the application process is streamlined. Depending on the policy you choose, you might have to answer some questions about your health and lifestyle, though some policies skip both the exam and questionnaire.
Insurer | NerdWallet rating | Issue ages |
|---|---|---|
50 to 74. | ||
20 to 60. | ||
20 to 75. | ||
15 days to age 65. | ||
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 no-exam policy specifically. | ||
What is life insurance?
In the simplest terms, life insurance is a contract between the insured person and the life insurance company. In exchange for the policyholder paying premiums, the insurer commits to paying a sum of money to the policy’s beneficiaries when the insured person dies.
Is life insurance worth it?
If your death would place a financial burden on someone, you should consider buying a life insurance policy. Life insurance is designed to replace your income and provide for loved ones after you’re gone, but it can also be used to pay for final expenses, pay off debt or help you leave an inheritance.
For most people, term life insurance is affordable and provides enough coverage for those prime income-earning years when a death would mean significant financial stress for your family.
How much does life insurance cost?
The average cost of term life insurance is $26 a month. This estimate is for a nonsmoking 40-year-old in excellent health buying a $500,000, 20-year policy, according to Policygenius, a life insurance brokerage. Life insurance rates vary based on insurers, policy types and applicants.
Pros and cons of life insurance coverage
Pros
- Can help replace income or provide for final expenses.
- Some policies offer early access to the death benefit in the event of terminal illness.
- Term life insurance is affordable and sufficient for most people.
Cons
- Often requires a medical exam for more affordable rates.
- Some types of life insurance can be more expensive and complicated to manage.
How to choose the best life insurance for you
Shopping for coverage? Follow these steps to find the right life insurance for your needs.
1. Decide on a type of life insurance 🤔
Term life insurance is sufficient for most people. It lasts a set number of years — like 10, 20 and 30 — and is designed to cover you for the years when you have the most financial obligations. For most term life insurance policies, the premiums stay the same, so you'll know exactly how much the policy will cost.
If you need lifelong coverage, permanent life insurance is another option. There are a few policies that fall under this umbrella, including whole life insurance, universal life insurance and variable life insurance. These policies typically don't expire as long you pay your premiums. They also build cash value at either a fixed or variable rate. Once you've accumulated enough cash value, you can begin to withdraw or borrow against those funds.
» MORE: Cash value life insurance
2. Calculate how much coverage you need 🔢
The next step is determining how much life insurance you need. Check out our guide to see different ways to crunch the numbers.
A simple way to calculate life insurance needs is to think about everything you pay for now and everything you expect to pay for in the future. This could include everyday expenses like child care, utilities and groceries, as well as long-term costs like college tuition and mortgage payments. Once you have a number, subtract the value of any assets you own. The final amount is the gap a life insurance policy can help fill.
3. Get prices from a handful of companies 💲
The cost of coverage varies among companies, so aim to compare life insurance quotes from multiple insurers.
Although many companies sell similar policies, some focus on certain products — such as whole life — or on particular customers, such as seniors who need life insurance. You can narrow your options by focusing on companies that specialize in the type of insurance you’re looking for.
More about top-rated life insurance companies
Looking for a specific type of life insurance policy? Check out NerdWallet’s top picks across these categories:
*Sample rates are based on a $500,000, 20-year term life insurance policy for a healthy, nonsmoking 40-year-old man and woman.
Frequently asked questions
What types of life insurance can I get?
What types of life insurance can I get?
There are two main types of life insurance. Term life insurance offers temporary coverage for a set period of time, like 10, 20 or 30 years, and pays out if you die within that time frame.
Permanent life insurance typically lasts your entire life. It also has cash value that grows over time, and once it reaches a certain level, you can begin to take out loans against your policy.
Can I get life insurance without a medical exam?
Can I get life insurance without a medical exam?
If you want to skip the life insurance medical exam, you can still buy life insurance, though your options may be more limited. Some types of no-medical-exam life insurance may still require you to answer questions about your health and lifestyle, while others skip both the questionnaire and medical exam.
What's the cheapest life insurance company?
What's the cheapest life insurance company?
The cheapest life insurance companies can vary based on your age, gender, smoking status and the type of coverage you want. It's worth comparing quotes from multiple companies to get the best rate.
What's the best life insurance for families?
What's the best life insurance for families?
Term life insurance is usually the best option for most families. In some cases, families with special needs children may want to explore permanent life insurance solutions like whole life insurance to provide lifelong coverage.
Article sources
NerdWallet writers are subject matter authorities who use primary, trustworthy sources to inform their work, including peer-reviewed studies, government websites, academic research and interviews with industry experts. All content is fact-checked for accuracy, timeliness and relevance. You can learn more about NerdWallet's high standards for journalism by reading our editorial guidelines.
- 1.J.D. Power. J.D. Power 2025 Individual Life Insurance Satisfaction Study. Accessed Dec 17, 2025.
