Best life insurance companies in Houston, TX (2024)

We compared pricing data, customer satisfaction scores, and financial strength ratings to pick the best life insurance insurance companies available in Houston.

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By

Brian ActonContributing WriterBrian Acton is a contributing writer at Policygenius, where he covers insurance and finance. His work has also appeared in The Wall Street Journal, TIME, USA Today, MarketWatch, Inc. Magazine, and HuffPost. 

Edited by

Julia KaganJulia KaganContributing EditorJulia Kagan is a contributing editor at Policygenius, where she specializes in life insurance. Previously, Julia was the senior personal finance editor at Investopedia for nearly a decade, a vice president and editorial director at Consumer Reports, the editor of Psychology Today, and the vice president of content at Zagat Surveys.
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Reviewed by

Maria FilindrasMaria FilindrasFinancial AdvisorMaria Filindras is a financial advisor, a licensed Life & Health insurance agent in California, and a member of the Financial Review Council at Policygenius.

Updated|5 min read

Expert reviewedExpert reviewedThis article has been reviewed by a member of ourFinancial Review Council to ensure all sources, statistics, and claims meet the highest standard for accurate and unbiased advice.Learn more about oureditorial review process.

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Life insurance is a crucial financial safety net no matter where you live, but it’s especially important when you're in a major metropolitan city like Houston, with a higher cost of living than other areas in the state.

If you’re shopping for life insurance in Houston, you should do your homework to find the coverage you need at a rate you can afford. To that end, we compiled the best life insurance companies in Houston, plus the average cost of coverage and the Texas state regulations you need to know about. 

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 Houston

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.

Read more about our reviews methodology

Best overall life insurance

Most applicants in Houston can find their best options with Legal & General America, which also does business as Banner Life and William Penn, our selection for the best life insurance company available in Houston. Legal & General America’s competitive rates and variety of term length options make it the top all-around choice for most life insurance shoppers. 

Legal & General America also fares well in scores that measure its industry standing, with solid financial security ratings and a NAIC complaint rating of 0.35, which falls well below the nationwide average of 1.00. 

Cheapest life insurance

Legal & General America offers Houston applicants the most competitive life insurance rates, with affordable policies available for a large percentage of applicants. 

Best term life insurance

Term life insurance is the most suitable, cost-effective life insurance option for the majority of Houston residents. It covers the policyholder for a defined number of years, with the policy expiring at the end of that term. Legal & General America offers affordable term life policies for up to 40 years. 

Best no-medical-exam life insurance

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2024 Policygenius award winner

Brighthouse Financial

Brighthouse Financial logo

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starFull orange star

5.0

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

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No-medical-exam option

Why we chose itchevron icon

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 conschevron icon

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

Applicants can skip the medical exam portion of the life insurance application and speed up the process with a no-medical-exam policy, which uses health records to determine premiums. Brighthouse Financial’s no-medical-exam rates are competitive with other insurers and they can approve applications in as fast as 24 hours. 

Best whole life insurance

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2024 Policygenius award winner

MassMutual

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.9

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A++

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

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All 50 states

Why we chose itchevron icon

MassMutual’s whole life insurance plan provides a lifetime coverage option that builds cash value with the potential to earn dividends.

Pros and conschevron icon

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 provides permanent coverage that lasts the policyholder’s entire life and offers investment and savings options, at a rate that is usually five to 15 times more expensive than term life policies. MassMutual’s whole life insurance builds cash value and has the potential to pay higher dividends than what is offered with many competitors. 

Best for seniors

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2024 Policygenius award winner

Prudential

Prudential logo

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starEmpty gray star

4.1

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A+

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

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$

$

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No-medical-exam option

Why we chose itchevron icon

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 conschevron icon

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

Life insurance gets more expensive the older the applicant is, so Houston seniors age 60 and above have extra motivation to find a policy with an affordable rate. Prudential offers great rates to older applicants with a wide range of medical conditions. 

Best for young adults

Brighthouse Financial

Younger adults can find affordable life insurance much easier because they’re low risk for insurance companies. Brighthouse Financial offers young people extremely affordable policies with fast application decisions and, as mentioned above, the best no-medical-exam coverage around. 

Best for people with pre-existing conditions

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2024 Policygenius award winner

Lincoln Financial

Lincoln Financial logo

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.8

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

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No-medical-exam option

Why we chose itchevron icon

Lincoln Financial offers a diverse array of life insurance policies, including competitive no-med and high-net-worth options.

Pros and conschevron icon

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

Pre-existing conditions can have a moderate to major effect on the cost of life insurance. But for many types of health conditions, Lincoln Financial offers rates that are lower than the industry standard. 

Best for marijuana users

Lincoln Financial

Lincoln Financial offers competitive non-smoker rates to marijuana users who would automatically receive more expensive smoker rates from many other life insurance companies. 

Best for smokers

Houston residents who smoke can expect to pay two to three times more for life insurance because of the health problems associated with smoking. But Legal & General America offers some of the most competitive rates to smokers, and policyholders who quit smoking can apply for lower premiums after just one year (compared to two years for many other insurers).

Ready to shop for life insurance in Houston?

Comparing the best life insurance companies in Houston

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

Legal & General America

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 Houston?

Life insurance companies weigh factors including the age and health history of the applicant, the length of the term, and the coverage amount when setting insurance premiums. 

Based on the latest Policygenius data from 2023, the average monthly premium for a healthy 35-year old in Houston 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 Houston?

Life insurance companies don’t tend to go bankrupt, but if they do the Texas Life & Health Insurance Guaranty Association (TLHIGA) covers affected policyholders that continue to pay their premiums. 

When an insurance company becomes unable to honor its financial obligations, policyholders will be notified by the TLHIGA or a court-appointed liquidator. Texas covers up to $300,000 in life insurance death benefits and $100,000 in cash surrender value for affected residents. 

Only Texas residents are covered by the TLHIGA. If a policyholder moves to another state, they will receive coverage from the guaranty association in the state where they currently live. 

How to find a lost life insurance policy in Houston

No matter what state someone lives in when they die, their family members and/or the administrator or executor of the estate can look for life insurance policies or annuity contracts in the decedent's name using the National Association of Insurance Commissioners’ Life Insurance Policy Locator Service.

The Texas Unclaimed Property website can be used to locate unclaimed funds, including life insurance death benefits, surrendered to the state three years after someone’s death. 

Ready to shop for life insurance in Houston?

Texas life insurance laws

Houston policyholders are protected by Texas state laws that dictate how policies must function in the state. 

Free look period

New policyholders can review and cancel their life insurance for a full refund of their premium for a period of 10 days following their receiving of the policy. 

Guaranty Fund protection

The TLHIGA guarantees affected state residents up to $300,000 in life insurance benefits and $100,000 in cash surrender value if a life insurance company is found to be insolvent and ordered to be liquidated. 

Contestable period

The contestable period for life insurance in Texas is two years from the date the policy takes effect. During this time, insurance companies can investigate a claim and deny benefits if they find that the policyholder lied or made misstatements on their life insurance application. 

Time allowable to settle a claim

In Texas, life insurance companies must pay claims within two months from the date they receive proof that the policyholder has died. Claims begin to accrue interest starting the day the life insurance receives proof of death. 

Grace period for missed payments

Texas policyholders have a 31-day grace period to continue to receive coverage while they make up for a missed payment. This allows customers some extra time to pay before the life insurance can terminate their policy.

Author

Brian Acton is a contributing writer at Policygenius, where he covers insurance and finance. His work has also appeared in The Wall Street Journal, TIME, USA Today, MarketWatch, Inc. Magazine, and HuffPost. 

Editor

Julia Kagan is a contributing editor at Policygenius, where she specializes in life insurance. Previously, Julia was the senior personal finance editor at Investopedia for nearly a decade, a vice president and editorial director at Consumer Reports, the editor of Psychology Today, and the vice president of content at Zagat Surveys.

Expert reviewer

Maria Filindras is a financial advisor, a licensed Life & Health insurance agent in California, and a member of the Financial Review Council at Policygenius.

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