Georgians have a wealth of options when choosing a life insurance company, but it's still crucial to find the insurance carrier that’s right for you. The best insurance company offers you the lowest rates and policies that match your health history and lifestyle.
We compiled the best life insurance companies for Georgians, along with the average cost of life insurance for Georgia residents and the state laws that define how your policy works.
We used industry data, pricing from Policygenius carrier partners, and third-party ratings like AM 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.
Best life insurance companies in Georgia
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
Why you can trust our picks
Our recommendations are based on internal and external expert analysis, as well as our Policygenius Life Insurance Price Index, which uses real-time data from leading life insurance companies to determine pricing trends. When reviewing a life insurance company, our editorial team uses a proprietary scoring rubric with five factors — price, policy details, financial strength, transparency, and customer experience — to assign an unbiased rating between one and five stars. These ratings are also taken into consideration as part of our company recommendations. We don’t get paid for our reviews.
Our reviews and recommendations can help you find a reliable insurer for your family’s financial protection, but the best life insurance company for you depends on multiple factors. A licensed agent at Policygenius can support you during the application process to ensure you get the right coverage 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
Banner Life is our top overall pick for the best life insurance company in Georgia thanks to its competitive rates, variety of term length options, and suitability for a wide range of applicants. Most Georgians will have no trouble finding an affordable policy with the coverage they need, and applicants with certain types of health conditions can still access great rates.
Cheapest life insurance
Banner Life
Banner Life provides the most affordable life insurance rates to Georgia for applicants with a variety of lifestyles and pre-existing conditions. Whether you’re a young adult with no health conditions or an older adult with certain medical issues, you may find an affordable policy with Banner Life.
Best term life insurance
Banner Life
Term life insurance is the best option for most Georgia residents, with affordable coverage extended to the policyholder over a set amount of time. Banner Life has many term length options available and the best rates for the greatest range of applicants.
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-exam 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 skip the life insurance medical exam and use past medical records to determine how much the applicant will pay for coverage. Brighthouse Financial has the best no-medical-exam rates in Georgia and will make an application decision in as little as 24 hours.
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 satisfaction ratings
Cons
High term life premiums
Term life not available through Policygenius
Whole life insurance covers policyholders for their entire life and may allow some policyholders to build cash value and earn dividends over time, but it costs five to 15 times as much as term life coverage. MassMutual pays higher dividends to policyholders than its competitors.
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
Georgia seniors age 60 and over can get great rates with Prudential, even with certain health conditions that go along with old age.
Best for young adults
Brighthouse Financial
Georgia applicants in their 20s, 30s, and 40s can get some of the best life insurance rates with Brighthouse Financial. While young adults can usually find affordable coverage anywhere, Brighthouse has some of the best rates and offers lower income requirements for college students.
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
Georgia residents with health conditions including arthritis, diabetes, high blood pressure, and more can get life insurance but should expect to pay more for life insurance coverage than applicants without any pre-existing conditions. Lincoln Financial has the best rates for people with pre-existing conditions.
Best for marijuana users
Lincoln Financial
Lincoln Financial gives non-smoker rates to occasional marijuana users in Georgia. This is huge for marijuana users because they can get coverage 200% to 300% cheaper than if they had to pay smoker rates, which many insurance companies automatically quote to marijuana users.
Best for smokers
Banner Life
Georgia smokers generally pay two to three times more for life insurance rate than non-smokers, which is an unavoidable reality of life insurance. But Banner Life has lower rates for smokers than competing insurance companies, and policyholders can apply to lower their premiums after they quit smoking for one year.
Comparing the best life insurance companies in Georgia
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 Georgia?
Based on Policygenius data from 2023, the average monthly premium for a healthy 35-year old in Georgia 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 Georgia?
Life insurance companies don’t usually go into financial insolvency and become unable to pay their claims. But if they do, the Georgia Life & Health Insurance Guaranty Association provides coverage to affected Georgia residents as long as they keep making their payments.
When an insurance company is no longer able to meet its financial obligations, affected residents will receive a notification from the receiver and/or the guaranty association. The guaranty association extends coverage for up to $300,000 in death benefits and $100,000 in cash surrender value.
When a policyholder moves out of Georgia, they will receive coverage from the guaranty association of the state they reside in if their life insurance company fails.
How to find a lost life insurance policy in Georgia
When someone dies, their family members or estate administrator can search for life insurance policies and annuity contracts using the National Association of Insurance Commissioners’ Life Insurance Policy Locator Service.
The Georgia Unclaimed Funds website can help individuals search for unclaimed property in the form of unclaimed life insurance benefits turned over to the state.
Georgia life insurance laws
Life insurance companies operating in Georgia must follow state laws that protect policyholders and dictate how policies must be run in the state.
Free look period
Georgia gives residents 10 days to cancel a new life insurance policy and receive a full refund of all premium payments.
Guaranty Fund protection
The Georgia Life & Health Insurance Guaranty Association will cover residents for up to $300,000 in death benefits and $100,000 in cash surrender value when a life insurance company cannot fulfill its financial obligations to policyholders.
Contestable period
The contestability period for life insurance is the time frame during which life insurance companies can investigate and challenge a claim if they discover evidence of fraud or misrepresentations on the application. In Georgia, the contestability period for life insurance starts the day the policy takes effect and lasts two years.
Time allowable to settle a claim
In Georgia, life insurance companies must pay claims within two months from receiving the proof of death. Death benefit proceeds will accrue interest from the date of the insured’s death to the date of payment.
Grace period for missed payments
Georgia has a 30-day grace period when policyholders miss a premium payment. This gives policyholders 30 days to make up for a missed payment before the life insurance company can terminate their policy.
Frequently asked questions
What is the number one life insurance company in Georgia?
Banner Life is the number one life insurance company for Georgia residents. It offers great rates and meets coverage needs across a wide range of applicant types. The company also features many term length options for term life insurance.
What is the life insurance free look period and grace period in Georgia?
Georgia residents have 10 days to cancel their new life insurance policy within the free look period and receive a full refund. They also get 30 days to make up for a missed payment before their coverage can be canceled.
What types of life insurance are available in Georgia?
Georgians can buy all of the main types of life insurance, including the two most popular: term life insurance and whole life insurance. They can also purchase no-medical-exam policies with accelerated underwriting, as well as final expense insurance.
Find the best life insurance companies in your state
Find the best life insurance companies in your city
