The best life insurance companies at a glance
Best overall: MassMutual.
Best for health conditions: Guardian.
Best customer experience: Northwestern Mutual.
Best permanent options: Pacific Life
Best for social responsibility: Thrivent
Life insurance can be a long-lasting, big-ticket 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.
Here’s our short list of the top life insurance companies based on financial strength, transparency and customer experience data.
Why trust NerdWallet
1,413 life insurance rates sets collected.
441 life insurers analyzed by our team of experts.
185 policies assessed.
Dive deeper: Ratings methodology for life insurance.
NerdWallet's life insurance content, including ratings and recommendations, is overseen by a team of writers and editors who specialize in life insurance. We follow strict editorial guidelines to ensure the content on our site is accurate and fair so you can make financial decisions with confidence and choose the products that work best for you.
Best life insurance company overall: MassMutual
Best overall
MassMutual
Bottom line: MassMutual offers a solid range of term, whole, universal and variable universal life insurance, plus free coverage for low-income parents.- Wide range of term and permanent life insurance policies.
- Supports online claims.
- Low rate of complaints from consumers.
- Most policies require a medical exam.
💰 MassMutual sample monthly rates
Male: $34.58
Female: $28.33
Pros
- Wide range of term and permanent life insurance policies.
- Supports online claims.
- Low number of complaints.
Cons
- Most policies require a medical exam.
Why we picked it: MassMutual gets top marks on NerdWallet’s life insurance scoring system. It’s one of the largest life insurance companies in the country, and its financial strength ratings can offer confidence that it’ll still be around in the future.
You can get a variety of policy types from MassMutual, including term and whole life insurance and more flexible options such as variable universal life insurance.
MassMutual is a mutual life insurance 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.
» Read the full review: MassMutual life insurance
Best for health conditions: Guardian
Best for health conditions
Guardian Life
Bottom line: Guardian sells term, whole, universal and variable universal policies, and caters to people living with HIV with tailored coverage.- Very few complaints from consumers for a company of its size.
- Offers unique coverage options, such as policies for HIV-positive applicants.
- Minimal policy details on the site.
- Can't buy a policy online.
💰 Guardian sample monthly rates
Male: $31.33
Female: $26.18
Pros
- Underwriting might be more lenient for people with health conditions.
- Offers unique coverage options, such as policies for HIV-positive applicants.
- Very few complaints from customers.
Cons
- Minimal policy details on the site.
- Can’t buy a policy online.
Why we picked it: Guardian stands out for its lenient underwriting standards and is known for making life insurance accessible for people living with certain 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 very low complaint rates, and it’s a mutual life insurance company, so it’s owned by customers and pays dividends to qualifying policyholders.
Policies offered: Term, whole, universal and variable universal.
» Read the full review: Guardian life insurance
Best customer experience: Northwestern Mutual
Best for customer experience
Northwestern Mutual
Bottom line: The biggest life insurer in the country, Northwestern Mutual offers term and permanent life insurance, and has the lowest complaint ratios of the life insurers we review.- Fewer complaints than expected for a company its size.
- Highly rated for customer satisfaction in J.D. Power study.
- Consistently pays a dividend to eligible customers, which is common among mutual life insurance companies.
- Company website doesn’t give specifics about coverage amounts or riders.
- Limited riders available.
💰 Northwestern Mutual sample monthly rates
Male: $39.92
Female: $41.25
Pros
- Industry-leading low complaint rates.
- Highly rated for customer satisfaction in J.D. Power study.
- Consistently pays a dividend to eligible customers, which is common among mutual life insurance companies.
Cons
- Company website doesn’t give specifics about coverage amounts or riders.
- Limited riders available.
Why we picked it: Northwestern Mutual has better complaint rates than any other life insurance company NerdWallet reviewed, on average. 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 pays dividends to qualifying members.
Policies offered: Term, whole, universal and variable universal.
» Read the full review: Northwestern Mutual life insurance
Best for permanent life insurance: Pacific Life
Best range of permanent life insurance
Pacific Life
Bottom line: Pacific Life sells a broad range of policies, and stands out for providing detailed and easy-to-digest information about each type on its website.- Low rate of customer complaints.
- Offers a variety of term and permanent policies.
- Some policies are not available in New York.
- No online quotes.
💰 Pacific Life sample monthly rates
Male: $27.86
Female: $23.53
Pros
- Good reputation among its customers.
- Offers a variety of term and permanent policies.
Cons
- Some policies are not available in New York.
- No online quotes.
Why we picked it: Pacific Life has a stellar lineup of permanent life insurance policies, including a competitive indexed universal life insurance policy. These policies typically grow investments based on stock market indexes like the S&P 500. They also have a guaranteed floor, which means your life insurance cash value won’t fall below a certain value if the stock market dives.
As a mutual company, Pacific Life is owned by its members, not stockholders.
Policies offered: Term, universal, variable universal and indexed universal.
» Read the full review: Pacific Life insurance
Best for social responsibility: Thrivent
Best for social responsibility
Thrivent
Bottom line: Thrivent is a fraternal benefit organization that sells term and permanent life insurance to Christian consumers.- Received far fewer complaints to state regulators than expected for a company its size.
- May pay dividends to select policyholders.
- Offers disability and long-term care insurance in addition to life insurance.
- Website offers little detail about coverage amounts or riders.
- Life insurance is available only to those with a Christian affiliation.
💰 Thrivent sample monthly rates
Male: $63.64
Female: $53.32
Pros
- Received far fewer complaints to state regulators than expected for a company its size.
- May pay dividends to select policyholders.
- Offers disability and long-term care insurance in addition to life insurance.
Cons
- Website offers little detail about coverage amounts or riders.
- Life insurance is available only to those with a Christian affiliation.
Why we picked it: Thrivent emphasizes social responsibility, offering resources to support members’ volunteer activities and charitable donations. It’s a not-for-profit fraternal benefit society serving Christian consumers — you’ll need to attest your faith to become a member and apply for life insurance or other financial products.
Like other companies among our top-rated life insurance picks, Thrivent is member-owned and pays out dividends to eligible policyholders.
Policies offered: Term, whole, universal, variable universal.
» Read the full review: Thrivent life insurance
Best term life insurance companies in 2025
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 in the market for offering competitive prices, riders and more. These term life insurance companies all scored at least 4.5 stars, and most offer a range of term lengths:
Guardian: 1, 10, 15, 20 or 30 years.
MassMutual: 1, 10, 15, 20, 25 or 30 years.
Northwestern Mutual: 1, 10 or 20 years.
Thrivent: 10, 15, 20 or 30 years.
Pacific Life: 10, 15, 20, 25 or 30 years.
New York Life: 1, 10, 15 or 20 years.
Penn Mutual: 10, 15, 20 or 30 years.
AARP: Until age 80.
Best whole life insurance companies in 2025
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. These companies scored at least 4.5 stars:
Best no-medical-exam life insurance companies in 2025
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. These companies scored 4 stars or more:
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. The premiums stay the same, so you'll know exactly how much the policy will cost over time.
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 keep up your premiums, and they 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 comprehensive guide to learn different ways to crunch the numbers.
A simple way to calculate your life insurance needs is to think about everything you pay for now and everything you expect to pay for in the future. This list could include everyday expenses like child care, utility bills 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 dollar figure is the gap a life insurance policy can help to 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 down your options by focusing on the 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:
✏️ How NerdWallet rates life insurance companies
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. Our ratings take into account the following details about each insurer:
Financial strength (40%). We use AM Best ratings to confirm an insurer’s financial stability and ability to pay claims far into the future. For life insurance, NerdWallet typically recommends insurers with ratings of A- (Excellent) or higher. The top life insurance companies have an exceptional financial strength rating of A+ or A++ (Superior).
Consumer complaints (40%). These ratings are based on complaints to state regulators relative to a company’s size, according to three years’ worth of data from the National Association of Insurance Commissioners. Our top-rated life insurance companies have fewer than the expected number of complaints, so you can expect a smoother customer experience.
Policy detail availability (10%). Ideally, a consumer should be able to find basic policy details on an insurer’s website. Our methodology gives higher scores to transparent insurers who include information about their policy options, coverage amounts and term lengths (if applicable) and clearly display these details in easily accessible places on their site.
Ease of communication (10%). Insurers who allow consumers to contact them by email, phone and live chat earn the highest scores.
We regularly reassess insurers and adjust scores as needed. Our star ratings are a guide to help you shop for a life insurance policy, and we encourage you to compare companies to find the best fit for your needs.
*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
How much does life insurance cost?
How much does life insurance cost?
The average cost of life insurance is $26 a month, according to Covr Financial Technologies. This is based on a healthy, nonsmoking 40-year-old buying a 20-year, $500,000 term life policy. Life insurance rates vary between policies and insurers, so it's important to compare life insurance quotes from a handful of companies to make sure you're getting the best possible price for the coverage you need.
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 a cash value component 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 bypass 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 most competitive rate.
Life insurance ratings methodology
NerdWallet’s life insurance ratings are based on consumer experience, complaint index scores from the National Association of Insurance Commissioners for individual life insurance, and weighted averages of financial strength ratings, which indicate a company’s ability to pay future claims. Within the consumer experience category, we consider ease of communication and website transparency, which looks at the depth of policy details available online. To calculate each insurer’s rating, we adjusted the scores to a curved 5-point scale.
These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.
Insurer complaints methodology
NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2021-2023. To assess how insurers compare with one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Ratios are determined separately for auto, home (including renters and condo) and life insurance.
