After decades in the insurance business, and with a team here doing more than 200 hours of research per month in life insurance, we now know a thing or two about helping find the best life insurance company for YOU.
Our agents analyzed over 40 of the largest life insurance companies and narrowed the list down to the top 10 overall best life insurance companies.
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The Top 10 Best Life Insurance Companies
The best life insurance companies for 2019 are:
- AIG Direct
- Haven Life
- American National
- Mutual of Omaha
Read in-depth agent-written reviews for all life insurance companies considered.
1. AIG Direct
AIG is one of the more consumer-friendly insurance providers as they tend to put their applicants in the more favorable weight class to help them get a better rate.
- Wide Selection of Policies
- Best for High Cholesterol
- Favorable Underwriting
2. Haven Life
Haven Life offers term life insurance up to as high as $3,000,000.00 which is generally the preference of most applicants today.
- No Exam for Term Policies
- Up to $3 Million in Coverage
3. Banner Life
Banner’s OPTerm policies consistently show up as one of our top 3 best-priced term policies for 10 & 20 years, at any age and any amount.
Our clients routinely qualify for their “preferred plus” health category (their best health class).
- Best for Term Coverage
- Best for Family History of Illness
- Easy Approval Process
4. American National
Their plans are very customizable with various riders available to cater to the individual’s needs.
American National offers 10, 15, 20 year policies with competitive premiums and the ability to switch from term insurance into permanent insurance.
- All Types of Policies
- Customizable Plans
- Competitive Premiums
5. Health IQ
Health IQ will still reward individuals who have a low BMI even in heart disease runs in their family. They put the healthiest applicants, up to 70%, in the preferred plus category.
Backed by many of the strongest life insurance institutions and excellent customer satisfaction scores, Health IQ is developing a very strong name for itself.
- Discounted Rates for healthy individuals
6. Mutual of Omaha
Mutual of Omaha offers several different life insurance plans, aimed mostly at consumers who might have difficulty getting coverage elsewhere due to health considerations.
- Highly Rated
- Best for Final Expense Plans
- Approvals with Health Conditions
Metlife’s underwriting guidelines allow for competitive rates for several pre-existing medical conditions, like type 1 and type 2 diabetes.
- Competitive Term Rates
- Wide Variety of Coverage Options
- Greatt for Pre-existing Conditions
Transamerica does not have the most aggressive underwriting, and is very lenient when it comes to seniors over age 70.
- Lenient Underwriting for Seniors
- Best for Individuals with High Cholesterol
Protective Life may be a better option for customers looking to take out larger policies, as amounts can range from $100,000 to $50 million with an income tax-free benefit paid to beneficiaries. There’s also a clause to convert to a permanent policy without a medical exam and accelerated living benefits to pay for medical bills that result from care of a terminal illness.
- Large Policies
- Policy Conversion Without Medical Exam
- Accelerated Living Benefits
Ladder is one of the few companies that waive application fees and is underwritten by Fidelity Security Life Insurance Company.
What sets Ladder apart from the rest is their flexibility in plans offered as well as the ability to decrease or increase coverage at any time.
- Flexible Plans
- No Application Fees
- Decrease/Increase Coverage
4.0 out of 5
Best Life Insurance Online Marketplaces
Online marketplaces allow individuals to find and compare the most affordable rates and coverage options from the best life insurance companies all in one place.
With Policy Genius, you can get quotes from the top 12 insurance providers within minutes.
National Family Assurance
National Family Assurance offers consumers the opportunity to get multiple quotes as well as many on-line tools to educate applicants to get the best deal possible.
Best Life Insurance Companies For Special Conditions
These are the top life insurance companies for some commonly seen situations.
- Best Life Insurance Company for Pre-Existing Conditions
- Best Life Insurance Company for History of Family Illness
- Best Life Insurance Company for Smokers
- Best Life Insurance Company for High Cholesterol
- Best Life Insurance Company for Diabetics
- Best Burial Insurance Company
Best Life Insurance Company for Pre-Existing Conditions
Prudential is by far the best life insurance company for pre-existing medical conditions.
They will even approve applicants with specific kinds of cancer.
Best Life Insurance Company for Family History of Disease
If you have a father, mother, brother or sister who has had (or died from) a medical condition, give Banner a shot. They may be able to still qualify you for their best rate, saving you about 50%!
Banner doesn’t penalize you for a parental death due to cancer.
Best Life Insurance Companies for Smokers
The best life insurance companies for smokers depends on the type of tobacco.
|Best For||Company||Next Steps|
|Cigarette Smokers||Transamerica||Get A Quote|
|Cigar Smokers||Prudential||Get A Quote|
|E-Cigarettes, Vaping, Chewing Tobacco, Pipe Smoking||Prudential||Get A Quote|
|Marijuana||Prudential||Get A Quote|
|Occasional Use||AIG||Get A Quote|
|Recently Quit?||Banner||Get A Quote|
Best Life Insurance Company for High Cholesterol
American General allows for what some might consider pretty high cholesterol (290) in the best health class they offer if your ratio of total to good cholesterol (HDL) is lower than 4.5.
Best Life Insurance Company for Diabetics
Banner Life Insurance is our favorite carrier for diabetics. They routinely approve clients at a “standard” to slightly substandard rating.
If you’re diabetic, “standard” would be a great approval given it’s the rating for someone with an average life expectancy!
Best Life Insurance Company for Final Expenses
Mutual of Omaha
Mutual of Omaha is our top life insurance company for final expenses.
Final expense insurance policies (also known as burial insurance policies) are quick and easy to purchase. They don’t require an exam and are a great choice for seniors age 65 and older who need a small policy (typically $50,000 or less).
Best No Exam Life Insurance Companies
Get coverage from one of these best no medical exam life insurance companies:
- No Exam for Term Policies
- Policies up to $3 Million
- Fast Application
- No Exam or Blood Tests
- Easy Online Application
- Affordable Rates
Best Life Insurance Companies For Your Age
The best life insurance company for a 35 year old is completely different than the best life insurance company for a 65 year old.
Read our comparison of sample term life insurance prices by age or select our in-depth review for your age range:
- Life Insurance for 20 to 29 Year Olds
- Life Insurance for 30 to 39 Year Olds
- Life Insurance for 40 to 49 Year Olds
- Life Insurance for 50 to 59 Year Olds
- Life Insurance for 60 to 69 Year Olds
- Life Insurance for 70 Year Olds and Over
Top 10 Best Life Insurance Companies By Financial Strength
The 10 best life insurance companies based on financial strength are:
|Berkshire Hathaway Life Ins Co of NE||A++||Positive|
|C M Life Insurance Company||A++||Positive|
|Guardian Insurance & Annuity Co||A++||Positive|
|Massachusetts Mutual Life Insurance Co||A++||Positive|
|New York Life Insurance and Annuity Corp||A++||Positive|
|Northwestern Mutual Life Ins Co||A++||Positive|
|State Farm Life Insurance Company||A++||Positive|
|TIAA-CREF Life Insurance Company||A++||Positive|
|Thrivent Financial for Lutherans||A++||Positive|
|USAA Life Insurance Company||A++||Positive|
Each received A.M. Best’s highest rating, but keep in mind that financial ratings only indicate a company is financially strong and should not be the sole criteria used when judging the best life insurance company for you.
Cheapest Life Insurance Companies
Though many factors can affect the cost of life insurance, we’ve found the overall cheapest life insurance companies to be: Protective, Pacific and Banner.
A complete list of life insurance companies we compared, broken down by age and scored overall, is provided in the chart below.
Company Ranking By Age Group
|20 to 29||30 to 39||40 to 49||50 to 59||60 to 69||70 to 79||OVERALL|
|North American Co.||6||6||7||6||8||8||7|
|United of Omaha||3||5||11||14||13||14||8|
|New York Life||16||18||21||20||20||16||19|
The Best Term Life Insurance Company
Banner Life is the best term life insurance company. They have extremely competitive prices, solid financial strength and a great term products. To make things even better, their approval process is one of the easiest in the industry.
Life Insurance Companies Reviewed
While there are thousands of whole life insurance companies and term life insurance companies in the U.S. offering various policies, we have taken the time to review over 40 of the most reputable ones to determine the best life insurance companies for 2019.
Our in-depth agent-written life insurance company reviews:
- American Amicable
- American General
- American Integrity
- Colonial Penn
- Comprehensive Kansas City
- Federal Trust
- Forester’s Financial
- John Hancock
- Liberty Mutual
- Life Insurance Company of the Southwest
- Matrix Direct
- Midland National
- National Agents Alliance
- Navy Mutual
- New York Life
- North American
- Northwestern Mutual
- Select Quote
- State Farm
- West Coast