Key takeaways
Northwestern Mutual leads the way in customer satisfaction, while Guardian is a good choice for people with health conditions.
MassMutual's policy features may make it a better value for some people.
If you need flexible universal life insurance, consider Pacific Life.
Reviewed monthly. Last updated: December 2025.
Universal life insurance offers flexible premiums and the potential to build cash value over time. Because you’ll likely have coverage your entire life, it’s important to choose your insurer wisely.
For this list, NerdWallet focused on standard universal policies, and not other types like indexed or variable life insurance. We looked at coverage amounts, age restrictions, financial strength ratings and whether there are safeguards to keep your policy from lapsing. The best universal life insurance companies below all scored at least 4.5 out of five stars.
Best universal life insurance companies in 2026
Insurer | NerdWallet rating | Offers a no-lapse guarantee? | |
|---|---|---|---|
Best for health conditions | Yes. | ||
Best for customer service | No. | ||
Best for policy features | Yes. | ||
Best no-lapse guarantee | 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 universal life insurance policies specifically. | |||
Best for health conditions: Guardian Life
Why this insurer made the list: Guardian stands out for reasonably priced coverage for buyers living with health conditions.
Rating Breakdown
Financial strength rating
Exceptional
Online purchase
No
NAIC complaints
Fewer than expected
Policies offered
Term & permanent
About Guardian universal life insurance
Guardian’s universal life policy comes with a minimum rate of return for your cash value of 2%, plus an option to guarantee no-lapse coverage until age 90. With the policy’s charitable benefit rider, Guardian will donate a sum of money to a nonprofit of your choice when you die.
📄Policy name: Guardian Universal Life.
Coverage amount: Starting at $100,000.
Age eligibility: 18 to 85.
Riders:
Waiver of premium.
Charitable benefit.
Online experience: Guardian’s site doesn’t have much detail in terms of coverage amounts and payment options for universal life insurance. You’ll need to connect with an advisor to learn more or purchase a policy.
What to know about applying for a policy: Guardian is known for having a more relaxed approach to insuring people with health conditions, but the company’s universal life insurance will probably still require a medical exam.
⭐Where this insurer stands out: Guardian may offer more competitive rates for people with pre-existing conditions and this company also draws fewer consumer complaints than other insurers of its size, according to the NAIC.
» Read the full review: Guardian life insurance
Best for customer satisfaction: Northwestern Mutual
Why this insurer made the list: Northwestern Mutual scores highly for customer satisfaction and offers customer universal life policies.
Rating Breakdown
Financial strength rating
Exceptional
Online purchase
No
NAIC complaints
Far fewer than expected
Policies offered
Term & permanent
About Northwestern Mutual universal life insurance
Northwestern Mutual is our pick for exceptional customer satisfaction. It has one of the lowest rates of consumer complaints of all the life insurers NerdWallet evaluates, according to NAIC data. Northwestern Mutual has also received top marks in J.D. Power’s U.S. Life Insurance Study every year for the last decade.
📄Policy name: Custom Universal Life.
Coverage amount: Starting at $500,000.
Age eligibility: 18 to 85.
Riders:
Waiver of premium.
Online experience: Northwestern Mutual’s site has a user-friendly design with lots of easy to digest facts about life insurance, but lacks policy-specific details. To learn more or get a quote for universal life insurance, you’ll have to work with one of the company’s financial advisors.
What to know about applying for a policy: Northwestern Mutual is pretty explicit about requiring a medical exam for most life insurance policies, including universal life insurance.
⭐Where this insurer stands out: Northwestern Mutual’s Custom Universal Life policy has a built-in accelerated death benefit rider, which means you can access part of your payout early if you’re diagnosed with a terminal illness.
» Read the full review: Northwestern Mutual life insurance
Best for useful policy features: MassMutual
Why this insurer made the list: MassMutual's universal life insurance policy includes useful features, such as a no-lapse guarantee and an accelerated death benefit.
Rating Breakdown
Financial strength rating
Exceptional
Online purchase
No
NAIC complaints
Far fewer than expected
Policies offered
Term & permanent
About Mass Mutual universal life insurance
MassMutual sells a survivorship version of universal life insurance. A survivorship or joint life insurance policy covers two people — typically spouses — and pays out when the second person dies.
MassMutual is one of NerdWallet’s highest-rated life insurance companies, thanks to its financial stability and low rate of consumer complaints.
📄Policy name: Universal Life Guard.
Coverage amount: $50,000 to over $250,000 for qualifying applicants.
Age eligibility: 18 to 85.
Riders:
Waiver of premium.
Accelerated death benefit.
Online experience: MassMutual allows you to start an application on the website, then hands you off to a financial professional to finish it. The company has an online portal for policyholders to manage life insurance and change beneficiaries.
What to know about applying for a policy: Like other insurers on this list, MassMutual may require you to take a medical exam to secure universal life insurance coverage.
⭐Where this insurer stands out: MassMutual’s Universal Life Guard policy has a no-lapse guarantee that you can customize to last until your death or for shorter periods. You can also add no-cost riders that allow you to tap into your death benefit early if you’re diagnosed with a terminal or chronic illness. These riders are a form of life insurance living benefits that are designed to help you take advantage of your coverage while you're still alive.
» Read the full review: MassMutual life insurance
Best for no-lapse guarantees: Pacific Life
Why this insurer made the list: Pacific Life’s universal policy comes with a no-lapse guarantee for up to 20 years, and the insurer can issue millions of coverage.
Rating Breakdown
Financial strength rating
Exceptional
Online purchase
No
NAIC complaints
Far fewer than expected
Policies offered
Term & permanent
About Pacific Life universal life insurance
Pacific Life’s Venture UL 2 policy comes with a no-lapse guarantee up to age 90. This means as long as you pay the minimum premiums, your coverage won’t lapse during this time period. You may be able to extend this guarantee to last your lifetime by opting into an additional rider.
The company has been around since 1868 and draws a very low volume of complaints from consumers for an insurer of its size, according to the NAIC.
📄Policy name: Pacific Venture UL2.
Coverage amount: $50,000 to $65 million.
Age eligibility: 0 to 90.
Riders:
Accelerated death benefit.
Long-term care.
Children’s level term.
Waiver of premium.
No-lapse guarantee.
Online experience: Pacific Life is one of the few insurers on this list that features product guides on its website, so policy details are easy to find. However, you’ll still need to connect to a financial professional to get a quote or purchase a policy.
What to know about applying for a policy: Pacific Life’s application relies on visitors to the site plugging their ZIP code into an agent search tool and taking the initiative to contact someone to start the process.
⭐Where this insurer stands out: Along with its no-lapse guarantee options and generous coverage limits, Pacific Life offers a long-term care rider you can add for a fee. This rider can help pay for care expenses if you get to a point where you can’t do basic daily activities on your own.
» Read the full review: Pacific 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 universal life insurance?
Universal life insurance is a type of permanent life insurance that can last your whole life. Permanent policies also include a cash value component that grows over time.
One thing that sets universal life insurance apart is that the premium payments are flexible. This feature could be useful for people with fluctuating incomes, but just know the policy may be at risk of lapsing if you pay too little long-term.
Is universal life insurance worth it?
For most people who need life insurance, a term policy is sufficient. Permanent policies like universal life insurance may suit those who are looking to build cash value or who need lifelong coverage (to support a child with disabilities, for example). Consider universal life insurance if you want flexible premiums and the ability to update your policy’s death benefit as your needs change.
How much does universal life insurance cost?
Your rate will depend on factors like your age and health, as well as how much you want your cash value to grow and the amount of coverage you need.
The average annual cost of a $500,000 universal life insurance policy is $3,101 for a man and $2,698 for a woman. This rate is based on a 40-year-old applicant in excellent health, according to Covr Financial Technologies, a life insurance brokerage. For more sample rates, see our guide to universal life insurance.
Pros and cons of universal life insurance
Pros
- Flexible premiums.
- Adjustable death benefit.
- Potential cash value growth.
Cons
- Requires you to monitor your policy.
- More exposure to risk.
Alternatives to universal life insurance
Term life insurance is an affordable alternative to universal life insurance that’s sufficient for most people. It lasts a set number of years, and is designed to cover you for your prime income-earning years.
If you want lifelong coverage, some other options are:
Whole life insurance, which offers a guaranteed death benefit, fixed premiums and cash value that grows at a set rate over time.
Indexed universal life insurance, a type of universal life policy that’s tied to a stock index such as the S&P 500.
Variable life insurance, which lets you choose the mutual funds your policy’s cash value is invested in.
Frequently asked questions
How can I buy universal life insurance?
How can I buy universal life insurance?
Because universal life insurance is a complicated product, you generally can’t buy it online. Instead, you’ll need to work with a life insurance professional, like a Chartered Life Underwriter (CLU), to get a policy.
Why are no-lapse guarantees important for universal life insurance?
Why are no-lapse guarantees important for universal life insurance?
One of the primary features of universal life insurance is flexible payments that can change as your financial circumstances shift. However, if you aren’t monitoring your policy carefully, you run the risk of your cash value depleting to the point where your policy might lapse.
To prevent this, some universal policies offer no-lapse guarantees that apply for a certain number of years, as long as you pay a minimum amount in premiums.
Is the death benefit of universal life adjustable?
Is the death benefit of universal life adjustable?
Yes. Universal policies typically have flexible death benefits, so you may be able to adjust your coverage as your needs change. Note the cash value of your policy will grow at interest rates set by your insurer, which may change regularly.
