Your life insurance rates will depend on the type of policy you buy, the amount of coverage you need, and personal details like your age and medical history — not on where you live.
That’s why our recommendations for the top life insurance companies in Indiana are similar to our picks for the overall best life insurance companies. But, while living in Indiana won’t affect your rates directly, it can affect which companies are available in your area, and there are some local laws and regulations you should know about.
Best for …
AM Best score
Number of complaints
Overall, cheapest, term life, smokers
Fewer than average
No-medical-exam, young adults
More than average
Pre-existing conditions, marijuana users
Fewer than average
Fewer than average
Fewer than average
Fewer than average
Best overall life insurance company in Indiana: Legal & General America
The best life insurance company in Indiana is Legal & General America, which also does business as Banner Life and William Penn in some states. Legal & General America has cheaper-than-average rates — even for applicants with a mixed medical history.
We also like that Legal & General America gets about 60% fewer complaints from its policyholders than expected compared to other companies.
Cheapest life insurance company in Indiana: Legal & General America
Legal & General America is our pick for the cheapest life insurance company in Indiana, though your location doesn’t affect what you’ll pay for life insurance, and Legal & General can be a cheap option no matter where you live.
The best ways to find the cheapest coverage for your needs, health, and family medical history is by comparing quotes and getting life insurance while you’re still young, since rates will only get more expensive as you age.
Best term life insurance in Indiana: Legal & General America
The best term life insurance company in Indiana is Legal & General America, thanks to its affordable rates and long term limits. Legal & General America offers life insurance with term limits up to 40 years, while many companies only offer term lengths of up to 30 years.
Term life insurance is the best option for most people. Here’s how it works:you choose the length of your policy (its term) and the amount you want your loved ones to get if you die (the death benefit), and your family can collect a payment if you pass away within the policy’s term.
Best no-medical-exam life insurance: Brighthouse Financial
We think that Brighthouse Financial is the best company for no-medical-exam life insurance in Indiana. If you qualify for coverage, you may be able to get a policy with up to $3 million in coverage and term lengths of up to 30-years in as little as one phone call.
A no-medical-exam life insurance policy is just like regular life insurance except you can skip the lengthy medical exam process. It’s usually only available to applicants with no medical issues or complicating factors.
Best whole life insurance in Indiana: MassMutual
The best whole life insurance company in Indiana is MassMutual. MassMutual has high financial strength ratings (an A++ from AM Best), which means that you can count on it being around for your family when they need it.
A whole life insurance policy is permanent, meaning it lasts until you die, so financial strength is important. Whole life policies also function kind of like a retirement account, and include a cash value component that you can draw from while you’re still alive.
Best guaranteed universal life insurance in Indiana: Pacific Life
The best guaranteed universal life insurance company in Indiana is Pacific Life. We like Pacific Life because of its stability (A+ for financial strength from AM Best). It also offers a fast underwriting option if you’re in good health.
Guaranteed universal life insurance is another type of permanent coverage. Your death benefits don’t change over time and your policy also has a cash-value component, but it doesn’t gain value as much as other policies.
Best life insurance for seniors in Indiana: Prudential
The best life insurance company for seniors in Indiana is Prudential. You may be able to qualify for term life insurance from Prudential up to age 70, and your rates may be affordable even if you have a pre-existing age-related health condition, like osteoporosis.
Best life insurance for young adults in Indiana: Brighthouse Financial
Brighthouse Financial is the best life insurance company for young adults in Indiana. Life insurance is usually pretty affordable while you’re in your 20s and 30s, but your rates may be even cheaper than average with Brighthouse Financial.
Best life insurance for pre-existing conditions: Lincoln Financial
Lincoln Financial is the best life insurance company in Indiana if you have pre-existing conditions. You may be able to find affordable rates from Lincoln Financial with existing factors like depression, a past stroke, or certain heart conditions.
Best life insurance for marijuana users in Indiana: Lincoln Financial
Lincoln Financial is the best life insurance company in Indiana if you use marijuana because Lincoln Financial doesn’t classify marijuana users as smokers, meaning you can avoid the higher rates.
Marijuana isn’t legal in Indiana, but you still need to let your life insurance company know if you use it. Otherwise your insurance company may deny a future claim if it finds out you misrepresented yourself on your application.
Best life insurance for smokers in Indiana: Legal & General America
The best life insurance company in Indiana if you smoke cigarettes is Legal & General America. Life insurance will always be more expensive than average for smokers, but Legal & General America’s rates are still affordable. Plus, you can also re-apply for coverage after a year of being smoke-free and qualify for cheaper rates.
How is life insurance different in Indiana?
Living in Indiana won’t affect your life insurance rates, but there are some state-specific laws and regulations you should know about before you buy a policy. 
Contestable period: The contestable period in Indiana is two years after you buy a policy. If your life insurance company finds out during this time that you misrepresented yourself, it can deny a claim.
Free look period: The mandatory free look period in Indiana is 10 days from when you buy a policy. This is the amount of time you have to cancel your life insurance policy and receive a full refund.
Grace period: The grace period for a missed payment in Indiana is 30 days. After it passes, your insurance company can cancel your policy for nonpayment.
Guaranty Fund protection: If your life insurance company goes bankrupt, Indiana’s Guaranty Association will step in and cover up to $300,000 of your death benefits and $100,000 of your policy’s cash surrender value.
Time to settle a claim: Your life insurance company has to process a claim within 30 days of a death claim or it must pay interest on the death benefit.
Largest life insurance companies in Indiana
Many of the largest life insurance companies in the country offer policies in Indiana. Here are the 10 largest life insurance companies in Indiana by market share. 
Market share in Indiana
New York Life
Indiana Farm Bureau
What happens if a life insurance company goes bankrupt in Indiana?
Life insurance companies don’t often go bankrupt, but if yours does, the Indiana Life and Health Insurance Guaranty Association will cover part of your policy’s benefits as long as you keep up with your premiums.
Indiana’s Guaranty Association covers you for up to $300,000 in death benefits and $100,000 in cash surrender value. You can keep this coverage or switch to another provider, but if you move your new state’s Guaranty Association will take over.
How to find a lost life insurance policy in Indiana
You can find a lost life insurance policy in Indiana by searching the Life Insurance Policy Locator Service from the National Association of Insurance Commissioners. But you can only search for a missing policy if you have a connection to the deceased person.
Average life insurance rates in Indiana
Based on our analysis of Policygenius data from 2024, the average monthly cost of life insurance for a healthy 35-year-old in Indiana buying a $500,000, 20-year term life insurance policy is $27 per month ($307 per year) for women and $32 per month ($373 per year) for men.
That said, remember that your life insurance rates depend on factors particular to you, but not where you live.
$250,000 coverage amount
$500,000 coverage amount
$1 million coverage amount