Free life insurance quotes in minutes

We don't sell your information to third parties.

Life landing phone

The best life insurance companies in 2022

Protective, Banner, and Lincoln all made the cut for the best life insurance companies this year.

Policygenius content follows strict guidelines for editorial accuracy and integrity. Learn about our editorial standards and how we make money.

Finding the best life insurance company is just as important as choosing the right policy. And while there's no such thing as one "best" company for everyone, given how personalized life insurance is, there are companies that offer better value, or more customizable policies, or competitive rates for specific age groups. To help you find the company that’s the best fit for you, we’ve done the research for you, looking at each company’s policy options and pricing, finances, and other strengths and weaknesses to create our reviews. The life insurance companies below had the highest ratings. 

CompanyPolicygenius ratingBest for
Protective

4.9

Overall, Value
Banner Life

4.7

Smokers
Lincoln Financial

4.7

No-medical-exam policies
Brighthouse Financial

4.6

No-medical-exam policies, Fast approval
AIG

4.6

Pregnant applicants
Pacific Life

4.6

Older applicants
Transamerica

4.4

Former smokers
SBLI

4.3

Younger applicants

Not sure which company is the best fit for you? A licensed Policygenius agent can talk you through the options, help you compare quotes, and walk you through the application process so you can find the company — and policy — that works for you.

Ready to shop for life insurance?

Start calculator

Protective

4.9

Policygenius rating

How we score: Policygenius’ ratings are determined by our editorial team. Our methodology takes multiple factors into account, including pricing, financial ratings, quality of customer service, and other product-specific features.

Protective logo

Best overall

Value

Competitive rates, ease of use, and up to $50 million in coverage make Protective a top-tier choice for a straightforward life insurance policy.

Pros

  • One of the best values on the market

  • Variety of coverage amounts and term lengths

  • Solid suite of online tools

Cons

  • Slow application approval

  • Zero no-medical-exam options

Protective is our top-rated life insurance company overall. Compared to other top carriers, Protective has some of the most affordable and comprehensive life insurance options available – including several different term lengths and coverage amounts up to $50 million. Such a wide range of term and price options are not offered by most life insurers, especially at Protective's competitive rates. And if your health improves, Protective also has an option to lower your rates, so you can truly customize a policy to fit your needs.

4.7

Policygenius rating

How we score: Policygenius’ ratings are determined by our editorial team. Our methodology takes multiple factors into account, including pricing, financial ratings, quality of customer service, and other product-specific features.

Banner Life logo

Best for smokers

Long term lengths and competitive rates make Banner a top contender for smokers and people with complicated health issues.

Pros

  • Very competitive rates

  • Covers many health conditions

  • Term lengths up to 40 years

Cons

  • Strict temporary coverage eligibility

  • Reconsideration is paid for by the applicant

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, including a family or personal history of cancer. Smokers will find some of the best pricing in the industry at Banner and can even re-apply for lower premiums after a year of quitting (something many insurers don't allow).

Lincoln Financial

4.7

Policygenius rating

How we score: Policygenius’ ratings are determined by our editorial team. Our methodology takes multiple factors into account, including pricing, financial ratings, quality of customer service, and other product-specific features.

Lincoln Financial logo

Best for no-medical-exam policies

Lincoln Financial offers a no-medical exam term life policy with quick decisions and affordable rates for shoppers of all age ranges, including marijuana users.

Pros

  • Affordable for older applicants

  • No-medical-exam option available

  • Very fast turnaround

  • Low rates for marijuana users

Cons

  • Expensive permanent policies

  • Few online tools

Lincoln Financial has quick-decision no-medical-exam term life insurance policies at affordable rates for both younger applicants and people in their 40s or 50s. Lincoln also offers lower-than-average rates for applicants who use marijuana. Younger shoppers (mainly applicants below age 60) can receive an application decision for no-medical-exam term life insurance within days, not weeks, making Lincoln among the fastest ways to apply for life insurance in the industry.

Brighthouse Financial

4.6

Policygenius rating

How we score: Policygenius’ ratings are determined by our editorial team. Our methodology takes multiple factors into account, including pricing, financial ratings, quality of customer service, and other product-specific features.

Brighthouse Financial logo

Best for no-medical-exam policies

Fast approval

Brighthouse Financial offers several life insurance options, including a low-cost no-medical exam term life policy available through Policygenius.

Pros

  • Very affordable term life insurance

  • No-medical exams for SimplySelect term life product

  • Instant decision approval

  • Convertible options are available

Cons

  • Only a few term lengths available

  • No rate reconsideration

Brighthouse Financial ranks the highest among the no-medical-exam life insurance policies we surveyed for younger applicants (ages 25–50). Not only does it have the lowest prices for eligible applicants, but it also offers some of the most robust coverage for a no-med policy; you can convert to a permanent life insurance policy after one year without taking a medical exam. Another plus: Most applicants receive an application decision within 24 hours.

AIG

4.6

Policygenius rating

How we score: Policygenius’ ratings are determined by our editorial team. Our methodology takes multiple factors into account, including pricing, financial ratings, quality of customer service, and other product-specific features.

AIG logo

Best for pregnant applicants

With competitive pricing and a range of flexible term periods, AIG is a solid option for many life insurance shoppers, especially people with common health conditions.

Pros

  • Competitive pricing for all ages

  • Customizable term policies

  • More affordable premiums for people with common health conditions

  • Strong financial confidence

Cons

  • Below-average customer ratings

  • Complex website and quote tool

AIG has ample, affordable options for shoppers of all ages, including healthy applicants in their 60s and people with common medical conditions like ADD, ADHD, and asthma. It is one of the only top insurers that considers applicants during any stage of pregnancy, assuming there are no complications (many insurance companies will postpone approval until several months postpartum). AIG is typically a top choice for diabetics too, but due to the ongoing COVID-19 pandemic, it is restricting new applications for people with any type of diabetes. However, a wide range of term lengths and riders are also available, so you can customize a policy to fit your needs.

Pacific Life

4.6

Policygenius rating

How we score: Policygenius’ ratings are determined by our editorial team. Our methodology takes multiple factors into account, including pricing, financial ratings, quality of customer service, and other product-specific features.

Pacific Life logo

Best for older applicants

Pacific Life offers competitive rates at every age and solid coverage options for people with mental health concerns.

Pros

  • Affordable prices at every age

  • Strong financial ratings

Cons

  • No accelerated underwriting

  • No online quote tool

Pacific Life’s rates stay competitive at nearly every age group, including seniors over 60 who typically have trouble finding affordable coverage. Pacific Life also offers life insurance for several types of health concerns, such as mild depression and anxiety, obesity, and sleep apnea. Pacific Life also has high scores from three major credit rating agencies, which means it's a trustworthy, financially stable company you can rely on.

Transamerica

4.4

Policygenius rating

How we score: Policygenius’ ratings are determined by our editorial team. Our methodology takes multiple factors into account, including pricing, financial ratings, quality of customer service, and other product-specific features.

Transamerica logo

Former smokers

Transamerica offers affordable term life insurance options up to $10 million. Former smokers may be eligible for preferred rates, too.

Pros

  • Competitive rates for term life insurance

  • No medical exam for people under a certain age or coverage amount

  • Former smokers may be eligible for lower rates

Cons

  • Uneven customer experience

  • Most policy changes require a paper form

Transamerica is one of the oldest and largest life insurance carriers in the world, with over 12 million active accounts today. Its cost-effective term life insurance options make it a great value insurer for almost every age range. You can even skip the medical exam if you fall under a coverage amount and age group. Former smokers will also find more affordable rates from Transamerica compared to other companies.

SBLI

4.3

Policygenius rating

How we score: Policygenius’ ratings are determined by our editorial team. Our methodology takes multiple factors into account, including pricing, financial ratings, quality of customer service, and other product-specific features.

SBLI logo

Best for younger applicants

SBLI offers accelerated underwriting, which allows qualified applicants to skip the medical exam and receive a policy decision in as little as a week.

Pros

  • No medical exams for Level Premium Term product

  • Fast turnaround time

  • Can apply, get a quote, and file claims online

Cons

  • High rates for applicants in their 50s

  • Few third-party customer ratings

With generally low rates, SBLI offers comprehensive coverage and no-medical-exam options for people ages 18–60. Unlike many other no-med life insurance offerings, smokers and marijuana users aren’t totally disqualified from getting insured with SBLI. Turnaround time for an application decision averages about one week, which is faster than most carriers.

What to look for in a life insurance company

Most people will decide between traditional term and whole life insurance, but there are other options to consider, too, like no-medical-exam life insurance. A few things you’ll want to consider: 

  1. Policy costs: Term life insurance is typically more affordable than whole life insurance. Shopping around with an independent broker like Policygenius can get you the most competitive premiums for your age, health, and hobbies.

  2. The company’s financial strength: Financial security is an important indicator of solvency — or if your insurer will be around to pay out the death benefit to your beneficiaries years down the line.

  3. The company’s communication style: Some insurers operate completely online, while others require policy updates via paper mail or by phone. Be sure to find a life insurance company that works the way you do. Also, consider the insurer’s average application time and accepted payment methods (note: most don't accept credit cards).

  4. The company’s size: The biggest life insurance companies are generally the most financially secure. You can take a look at a company’s market share and the number of policyholders to determine how big it is. 

→ Learn more about how to buy life insurance

How to choose your best life insurance

Because life insurance isn’t one-size-fits-all, the best life insurance company for you will depend on your unique background. Rates are based on personal risk, including your age, health, hobbies, and lifestyle choices.

By health condition:

By policy features:

By age:

→ Learn more about how your background affects your life insurance policy

How we ranked the top life insurers

At Policygenius, we want affordable and robust coverage to be easy to find, for everyone.

We don't get paid for 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 quoting 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. 

→ Read more about our reviews methodology here 

Frequently asked questions

How to find the best life insurance company

For most people, the best life insurance company is the one that offers the coverage they need at the lowest cost. Policygenius is a free marketplace where you can compare quotes from multiple companies, read unbiased reviews, and work with a licensed advisor to choose the right policy for you.

Which company is best for term life insurance?

All of our top life insurance company recommendations offer term life insurance. The best term life insurance for you will have a term length and coverage amount equal to your financial obligations — if not more. Every person has varying life insurance needs and the best term life insurance policy for you may not be suitable for someone else.

Can you have two life insurance policies?

You can have two (or more) life insurance policies. Most people have group life insurance through their employer in addition to a personal policy. However, there is a limit for how much total coverage you can have, which should be proportionate to your financial obligations.

How do I find the cheapest life insurance company?

Find the cheapest company by comparing policies from multiple companies.

Life insurance costs aren't universal, they're based on your age, your health, and the policy's term length and death benefit amount. Some companies are more lenient than others for certain health conditions, and you can save up to 40% by making sure you're going with the right company for your individual circumstances.

Note: Brighthouse SimplySelect is offered exclusively through Policygenius. We are an online marketplace that offers insurance policies from many of the nation's top insurers, who pay us a commission for our services. However, all editorial choices are made independently.