The Best Term Life Insurance Companies

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Best Term Life Insurance Companies

What is the best life insurance company for term life insurance? We’ve put together a Top 10 term life insurance companies list. We work with over 60 of the best life insurance companies in the country so we know who can offer you the best deal for coverage. Let’s find out which of the Top 10 carriers is a great fit for your coverage needs.

The Best Term Life insurance Companies

Let us be the first to tell you that not all term life insurance companies are created equal. Some are better than others if competitive rates are your top priority, while others will offer you more extensive coverage than others if you are deemed to be a high-risk life insurance candidate.

Keep in mind that you can start comparing rates today between a wide variety of insurance companies using our online quote tool. In the meantime, take a look at our reviews of what we believe are some of the best term life insurance companies available today. If you’re needing instant coverage, be sure to check out our fast life insurance reviews article.

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Top 10 Term Life Insurance Companies

Our top 10 list is listed alphabetically. Each company has their advantages, but the best company for you will depend on specific underwriting factors such as age, health, height, weight, and family history.

Here is our Top 10 list of term life insurance companies:

1

American General

American General Life Insurance Company

89.03
Cost
Products
Financial Strength
Review Summary

This is another insurance provider that offers all-around competitive rates and is more open to people with preexisting medical conditions. If you smoke cigars but not cigarettes, this company can also be a great choice because you can often get non-smoker’s rates. American General holds an A rating with A.M. Best.AIG provides shoppers with a variety of  life insurance products. AIG is one of the top life insurance companies that you can find. They are one of the go to insurers for a variety of niches. They should be looked at closely by anyone looking for term and permanent life insurance.

Excellent!
2

Banner Life

Banner Life Insurance Company

89.43
Cost
Products
Financial Strength
Review Summary

Banner Life has a very long track record of excellence. In the business since 1949, Banner is today an A+ rated company that offers some of the most competitive rates for most applicants. What is also worth mentioning is the fact that Banner Life is great for people with preexisting medical conditions, offering some of the lowest rates and fullest forms of coverage in these cases. Type 2 Diabetics often get the best health ratings with Banner.

Excellent!
3

Prudential Life

Prudential Life Insurance Company

89
Cost
Products
Financial Strength
Review Summary

Prudential life insurance is a provider that offers competitive rates, but it is particularly noteworthy if you happen to use things like chewing tobacco or nicotine, or use an e-cigarette, but don’t smoke cigarettes. While many life insurance companies classify chewing tobacco and the patch along with smoking and will automatically charge you much more expensive tobacco rates, Prudential is more lenient. Prudential also holds an A+ rating and offers life insurance policies to active military members (which not all companies will).

Excellent!
4

Protective

Protective Life Insurance Company

88.53
Cost
Products
Financial Strength
Review Summary

Another company with an A+ rating, Protective Life offers consistently decent rates. In business since 1907, Protective currently has over $427 billion in life insurance policies and frequently tops its competitors when it comes to cheap life insurance rates. Protective also has a unique term policy worth reading about here.

Very Good!
5

Lincoln Financial

Lincoln Financial Insurance Company

87.23
Cost
Products
Financial Strength
Review Summary

Lincoln Financial is an excellent term life insurance company. Lincoln is financially strong and are an excellent choice for healthy shoppers as well as those who have a preexisting health condition.

Very Good!
6

Foresters

Foresters Life Insurance Company

86.57
Cost
Products
Financial Strength
Review Summary

Foresters has an easy and fast no exam term life insurance application. Foresters life insurance policy comes with living benefits which is also referred to as accelerated benefits. Foresters entire process is shopper friendly.

Very Good!
7

ING

ING Life Insurance Company

86.67
Cost
Products
Financial Strength
Review Summary

This is another A rated company that offers solid rates (they unfortunately no longer offer 30-year terms, but their 20 and 10-year term rates are great). However, what’s also worth mentioning about ING is the fact that they do not discriminate when it comes to family histories of certain cancers. While many other insurance providers will charge you higher rates if, say, some of your relatives died of colon cancer, ING will judge only your personal health history. On an even more unique note, ING also does not discriminate against scuba divers (many companies will charge higher rates for scuba enthusiasts), provided your dives are regularly not deeper than 100 feet deep. ING has also very flexible cholesterol guidelines and is a great choice for those with elevated cholesterol levels.

Very Good!
8

SBLI

SBLI Life Insurance Company

85.83
Cost
Products
Financial Strength
Review Summary

Like Protective Life, SBLI has been in business since 1907 and also holds an A+ rating with A.M. Best. If you’re looking for a very straightforward and “down to business” insurance provider, this is it. SBLI also frequently clocks in with some of the lowest term life insurance rates around, which is always a plus.

Very Good!
9

Transamerica

Transamerica Life Insurance Company

79.67
Cost
Products
Financial Strength
Review Summary

Transamerica is an A+ rated company and is one of the few good insurance companies out there that offers policies (both term and universal) below $100,000. In fact, policies start as low as $25,000, which is rare in the life insurance world. They also have policies that don’t require a medical exam, so that is good news if that is of importance to you. Transamerica is one of the best life insurance companies that you can find. Depending on your health and age, they should be looked at closely by anyone looking for term and permanent life insurance.

Very Good
10

Principal

Principal Life Insurance Company

86.7
Cost
Products
Financial Strength
Review Summary

The Principal Life Insurance Company offers excellent life insurance products at competitive rates. They're an A+ rated company and one of the top insurers for anyone shopping for $5 - $10 million in coverage.

Very Good!

Which company will give you the best rate?

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Use the calculator on this page or click the link above to visit our instant quotes page.
Step 2 : Input coverage details
Fill out the basics about what you’re wanting, how much coverage, for how long, etc. That way we can understand your situation before we can help you. Complete the calculator details as accurately as possible, and be absolutely sure your contact information is correct so we can reach you.
Step 3 : Get help from a licensed agent
Once you’ve filled out the calculator, one of our licensed life insurance agents will  provide you all your options and plan out who will provide you the best rate based on your specific health and lifestyle. All of the recommendations will be based off of the details you provide. It’s very important that you're honest and answer your agent's questions accurately. 
Step 4 : Compare realistic rates
This is where we really begin working to figure out exactly which company will get you the best rate, and how to make it happen. There are literally hundreds of companies and thousands of policy options available. We'll make sure you get the best one based on what you'll qualify for.

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Bottom line

Now, because we are an independent life insurance agency, these reviews are based on our personal and professional experience with these companies and are unbiased. These companies have not paid to be on this list. That said we realize that life insurance is never a “one size fits all” type of deal. We will take the time to get to know you and your needs so that we can match you up with the best provider.

If you’re considering term life insurance to protect the future of your loved ones, please contact us to learn more about these Top 10 Term life companies. If you’d like to learn more about the over 60 companies we have access to, just let us know. You can even get started by getting free, customized quotes by using our life insurance calculator or visiting our Life Insurance Quotes page. We look forward to helping you get the best coverage possible.

Originally posted 2019-05-07 12:25:05.

Michael Quinn
Michael is a licensed life insurance agent, expert & owner of Life Insurance Blog. LIB has helped thousands of shoppers understand life insurance and secure affordable coverage.

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Michael Quinn
Founder – Life Insurance Blog

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