Atlanta residents are free to buy life insurance from any insurance carrier doing business in Georgia, but you shouldn’t just go with the first company you come across. The best life insurance company offers the most competitive rates that fit your medical history and lifestyle.
We used industry data, pricing from Policygenius carrier partners, and third-party ratings like A.M. Best and J.D. Power to pick the best insurers on the market. Our independent recommendations will help you get life insurance coverage with confidence.
Here are the best life insurance companies available in Atlanta today, along with everything you need to know about buying life insurance in the state of Georgia.
Best life insurance companies in Atlanta
Best overall: Banner Life
Cheapest: Banner Life
Best term life insurance: Banner Life
Best no-medical-exam life insurance: Brighthouse Financial
Best whole life insurance: MassMutual
Best for seniors: Prudential
Best for young adults: Brighthouse Financial
Best for people with pre-existing conditions: Lincoln Financial
Best for marijuana users: Lincoln Financial
Best for smokers: Banner Life
Methodology: How we chose the best life insurance companies in each state
We don’t get paid for our company reviews and use an extensive rubric of criteria covering policy details, price, financial confidence, third-party ratings, and customer experience to assign unbiased ratings out of five stars. Any recommendations we make are based on internal and external expert opinions and data from our Policygenius Price Index, which uses real-time rate data from leading life insurance companies to determine pricing trends. Our ratings and reviews can help point you to an insurer you can rely on for your family’s financial protection, but the best life insurance company for you is dependent on multiple factors. A licensed agent at Policygenius can work with you through the application process so you’re getting coverage from the best insurer for your circumstances at the most competitive price.
Best overall life insurance
2023 Policygenius award winner
Banner Life
4.9
30+ year terms
All 50 states
No-medical-exam option
Why we chose it
Banner Life has some of the longest term lengths — up to 40 years — and most competitive life insurance rates available, even for people with a history of medical conditions.
Pros and cons
Pros
Competitive rates for a variety of health conditions
Fast instant-decision option for qualifying applicants
Variety of term lengths up to 40 years
Cons
Application underwriting can take longer than average
Does not have the most competitive rates for older applicants
We named Banner Life the best life insurance company in Atlanta because of its low rates, flexibility when choosing term lengths, and the ability to fit a variety of applicants with different health conditions and lifestyles. Most applicants in Atlanta will find an affordable policy with the coverage they want at Banner Life.
Cheapest life insurance
Banner Life
Banner Life provides the most affordable rates in Atlanta for the greatest variety of applicants. Whether you’re a young adult in the picture of health or you’re older and have certain health issues, you can likely find an inexpensive policy with the company.
Best term life insurance
Banner Life
Term life insurance extends coverage to the policyholder for a set number of years at an affordable rate, making it the best life insurance option for most Atlanta residents. Banner Life offers many term length options, for up to 40 years of coverage.
Best no-medical-exam life insurance
2023 Policygenius award winner
Brighthouse Financial
5.0
No-medical-exam option
Why we chose it
Brighthouse Financial offers competitive rates, comprehensive coverage, and application decisions in as little as 24 hours, making it a great choice for people who want to get life insurance coverage without having to take the medical exam.
Pros and cons
Pros
Extremely affordable
Instant-decision applications
Best-in-class no-med option
Cons
Traditional term life not available in CA, IL, LA, ME, or NY
Term life applicants limited to ages 25-50
No-medical-exam policies let you use past medical records to determine how much your policy will cost, skipping the medical exam portion of the application altogether. Brighthouse Financial offers the lowest no-medical-exam rates in Atlanta and can turn around applications in as little as a single day.
Best whole life insurance
2023 Policygenius award winner
MassMutual
4.9
All 50 states
Why we chose it
MassMutual’s whole life insurance plan provides a lifetime coverage option that builds cash value with the potential to earn dividends.
Pros and cons
Pros
Strong financial stability ratings
Higher potential for dividends for whole life policyholders than many competitors
Good customer experience ratings
Cons
High term life premiums
Term life not available through Policygenius
Atlantans who want their life insurance policy to cover them for their entire lives can choose whole life insurance, but it's significantly more expensive than term life. Whole life insurance also allows some policyholders to build cash value and earn dividends based on the company’s financial performance. MassMutual pays larger dividends to policyholders than the competition.
Best for seniors
2023 Policygenius award winner
Prudential
4.1
All 50 states
No-medical-exam option
Why we chose it
With nearly four million policyholders and 150 years to its name, Prudential offers competitive coverage options for seniors, as well as people with some of the most common medical conditions, including asthma, depression, and fibromyalgia.
Pros and cons
Pros
Good for people over 60
More flexible income requirements than some other insurers
Considers applicants with a variety of immigration statuses (visas and green cards)
Cons
Younger applicants will likely find better prices elsewhere
No-med option can end up requiring a medical exam most of the time
Atlanta seniors who are 60 years old and above can find low rates with Prudential, even if they have certain pre-existing conditions that are associated with older age.
Best for young adults
Brighthouse Financial
Young adults in their 20s, 30s, and 40s can get better life insurance rates all over, but Brighthouse Financial offers some of the best rates for young adults, with quick application decisions and flexible income requirements for students enrolled in college.
Best for people with pre-existing conditions
2023 Policygenius award winner
Lincoln Financial
4.8
No-medical-exam option
Why we chose it
Lincoln Financial offers a diverse array of life insurance policies, including competitive no-med and high-net-worth options.
Pros and cons
Pros
Affordable rates
Good for many existing health conditions, including depression, stroke, and heart conditions
Good for marijuana users, including daily users
Cons
Term life not available in New York
Atlanta residents who have health conditions like arthritis, diabetes, or high blood pressure can expect to pay more for life insurance coverage than applicants without pre-existing conditions. But among its competitors, Lincoln Financial offers the best rates to people with pre-existing conditions.
Best for marijuana users
Lincoln Financial
Many life insurance companies automatically classify marijuana users as smokers, meaning they’ll pay much more for life insurance than they would otherwise. But Lincoln Financial offers non-smoker rates and affordable coverage to marijuana users.
Best for smokers
Banner Life
Atlanta smokers will have to pay double or even triple the rates that non-smokers pay for life insurance, simply because of the health risks involved with smoking. But Banner Life offers lower rates to smokers than their competitors, and policyholders can request a rate reduction after they quit smoking for just one year.
Ready to shop for life insurance in Atlanta?
Comparing the best life insurance companies in Atlanta
Company | Policygenius rating | Best for | Types of policies | |
|---|---|---|---|---|
Brighthouse Financial | 5.0 / 5 | No-medical-exam life, young adults | Term life, no-medical-exam life, whole life, short-term life, universal life | |
Banner Life | 4.9 / 5 | Overall, cheapest, term life, smokers | Term life, no-medical-exam life, universal life | |
MassMutual | 4.9 / 5 | Whole life | Term life, no-medical-exam life, whole life, universal life, variable universal life | |
Lincoln Financial | 4.8 / 5 | Marijuana users, people with pre-existing conditions | Term life, no-medical-exam life, indexed universal life, variable universal life | |
Prudential | 4.1 / 5 | Seniors | Term life, no-medical-exam life, short-term life, universal life, indexed universal life |
What is the average cost of life insurance in Atlanta?
Based on Policygenius data from June 2023, the average monthly premium for a healthy 35-year old in Atlanta buying a $500,000, 20-year term life insurance policy is $30.79 for men and $25.76 for women.
What happens if a life insurance company goes bankrupt in Atlanta?
When a life insurance company becomes insolvent, the Georgia Life & Health Insurance Guaranty Association covers affected Atlanta residents assuming they continue to pay for the policy.
Atlanta residents who hold a policy with a bankrupt life insurance company will be notified by the receiver and/or the guaranty association. The guaranty association provides coverage for up to $300,000 in death benefits and $100,000 in cash surrender value.
If a policyholder moves out of state, they will get coverage from the guaranty association of the state they reside in when the life insurance company goes bankrupt.
How to find a lost life insurance policy in Atlanta
When someone in Atlanta dies, their family or the person managing their estate can look for life insurance policies and annuity contracts with the National Association of Insurance Commissioners’ Life Insurance Policy Locator Service.
The Georgia Unclaimed Funds website can help individuals locate unclaimed property including life insurance benefits that were turned over to the state
Georgia life insurance laws
Life insurance companies selling policies in Atlanta must follow Georgia guidelines that provide consumer protections and define how policies must work in the state.
Free look period
Georgia residents can cancel a new life insurance policy and receive a no-strings-attached refund of all premium payments within 10 days of receiving the policy.
Guaranty Fund protection
The Georgia Life & Health Insurance Guaranty Association covers Georgia residents for up to $300,000 in death benefits and $100,000 in cash surrender value when a life insurance company can no longer meet its financial obligations.
Contestable period
The contestable period is the time frame during which life insurance companies are allowed to investigate and deny a claim if they discover the policyholder lied or made misstatements during the application process. In Georgia, the contestable period lasts for the first two years the policy is in effect.
Time allowable to settle a claim
Life insurance companies must pay claims against Georgia policies within two months of receiving proof that the insured has died. Death benefits accrue interest starting the date of death and ending when the claim is paid.
Grace period for missed payments
Georgia guarantees policyholders a 30-day grace period when they miss a premium payment. This gives policyholders 30 days to make up for an unpaid premium before they can lose coverage.
Frequently asked questions
What is the number one life insurance company in Atlanta?
Banner Life is our number one pick for the best life insurance company in Atlanta. With competitive rates and term lengths that can meet a variety of coverage needs, it offers the most affordable policies to the widest range of life insurance shoppers.
What is the life insurance free look period and grace period in Atlanta?
Atlanta residents can return their life insurance policy within 10 days of receiving it to get a full refund. They also have 30 days to make a missed payment before the life insurance company may terminate their policy.
What types of life insurance are available in Atlanta?
Atlantans can buy term life policies and whole life policies, the most widely available forms of life insurance. They can also purchase no-medical-exam insurance with accelerated underwriting and final expense insurance policies, as well as additional types of life insurance.
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