Finding the right life insurance option comes down to individual factors, including your health, lifestyle, budget, and policy needs. Our list of top life insurance companies in Missouri includes average costs, which factors affect rates, and information on state protections can help Missourians find their best insurance fit.
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 Missouri
Best overall: Legal & General America
Cheapest: Legal & General America
Best term life insurance: Legal & General America
Best no-medical-exam life insurance: Pacific Life
Best whole life insurance: MassMutual
Best for seniors: Prudential
Best for young adults: Legal & General America
Best for people with pre-existing conditions: Lincoln Financial
Best for marijuana users: Lincoln Financial
Best for smokers: Legal & General America
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
2025 Policygenius award winner
Legal & General America
4.9
30+ year terms
All 50 states
No-medical-exam option
Why we chose it
Legal & General America, which also does business as Banner Life and William Penn, 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
Legal & General America, which also does business as Banner Life and William Penn, offers a wide range of excellent policy options, which earned it a nod in five of the 20 categories in Policygenius’ list of the best life insurance companies in the U.S.
Legal & General America’s competitive rates, a strong rating with AM Best, and generous options for people with certain pre-existing conditions, such as diabetes or tobacco use, all contribute to this company getting the top spot for best overall life insurance package. Legal & General America’s NAIC complaint rating is only 0.35, putting it well under the industry average of 1.00, and indicating that the company is a customer favorite, as well.
Cheapest life insurance
Legal & General America
Life insurance rates are always subject to factors, such as age, sex, health, and lifestyle. With that in mind, Legal & General America tends to offer competitive rates whether you’re in excellent health or need to factor in significant health conditions.
The company is an especially good place to start for people who use tobacco, have diabetes, or live with mental health conditions, such as bipolar disorder. Young and healthy people will also find some of the best rates on the market from Legal & General America.
Best term life insurance
Legal & General America
Term life insurance offers coverage for a specific length of time. If you die during the term, your beneficiaries get a death benefit from the policy. If you outlive the term, your coverage ends. Term life is a popular life insurance option because it’s more affordable than comparable permanent life coverage.
Legal & General America takes the top spot again here, thanks to its competitive rates and a wide range of term lengths that go up to 40 years.
Best no-medical-exam life insurance
2025 Policygenius award winner
Pacific Life
4.8
All 50 states
No-medical-exam option
Why we chose it
Pacific Life offers some of the lowest rates for term life insurance across age brackets. It also has the most competitive rates for many health conditions and builds.
Pros and cons
Pros
Extremely affordable across age brackets
Affordable guaranteed universal life insurance option for people who need lifetime coverage
Favorable underwriting for many health conditions
Cons
Traditional term life not available in NY
There are better carriers for active duty military, people who have a history of alcohol abuse, and people who have been through bankruptcy
The best company for no-medical-exam life insurance in Missouri is Pacific Life. You may be able to get up to $3 million in coverage without taking a medical exam, and Pacific Life accepts no-med applicants as old as 70.
A no-medical-exam life insurance policy is like a normal term life policy, except getting coverage takes less time since you don’t need to go through a medical exam. You can usually only get this kind of coverage if you’re in good health, though each company has different eligibility rules.
Best whole life insurance
2025 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 & good customer satisfaction ratings
Higher potential for dividends for whole life policyholders than many competitors
Term coverage has strong conversion privileges to permanent coverage
Cons
High term life premiums
Whole life insurance does not expire at the end of a specific term. It typically includes a cash value component you can borrow from during your lifetime, as well as a death benefit to your beneficiary. Whole life insurance tends to cost substantially more than term life (e.g., 5 to 15 times as much for the same coverage amount). However, it can be a good option for people who need lifelong coverage or want to provide loved ones with a guaranteed death benefit.
MassMutual has strong financial stability ratings and high customer experience ratings. It also pays higher dividends for cash value than much of the competition, making it a strong choice for people seeking whole life insurance in Missouri.
Best for seniors
2025 Policygenius award winner
Prudential
4.1
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
Life insurance rates go up with your age at the time you apply, but Prudential keeps rates lower than the competition for seniors over age 60. The company also takes a more flexible attitude toward some health conditions that may come with age, such as osteoporosis, as well as other common health issues such as asthma, fibromyalgia, and depression.
Best for young adults
Legal & General America
Legal & General America is the best life insurance company for young adults in Missouri. It offers some of the cheapest life insurance rates for people in their 20s and 30s regardless of their health profile. The company offers no-medical-exam and instant-decision options for young people who are in excellent health or have just one or two minor and well-controlled health conditions.
Best for people with pre-existing conditions
2025 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
Health is an important factor in determining whether you qualify for life insurance coverage and what premiums you can expect to pay for a policy. In many cases, a pre-existing condition won’t put life insurance out of reach. However, some insurance companies offer better coverage or lower rates than others, depending on the specific details.
Lincoln Financial has a reputation for offering lower rates than other companies for a variety of conditions, including arthritis, diabetes, mental health conditions, and some types of cancer.
Best for marijuana users
Lincoln Financial
Recreational marijuana use became legal in Missouri in December 2022. [1] Although marijuana use once made it difficult to get life insurance coverage, more companies are offering policies and better rates than previously to people who use marijuana.
Lincoln Financial offers some of the best rates available to marijuana users. In qualifying cases, it even offers them non(tobacco)-smoking rates, which is a big deal since rates for tobacco users can be 2 to 3 times higher than non-smoking rates.
Best for smokers
Legal & General America
Missouri is in the top 10 states for high rates of tobacco use in the U.S., at 19.6% of the population. [2] Smoking is well-known for its health risks, so life insurance for smokers tends to cost double or triple a non-smoker’s rate.
Legal & General America offers some of the most competitive rates for smokers. It also earns the top spot in this category for its attitude toward quitting. Quitting a smoking habit can have a meaningful effect on health, and Legal & General America lets you apply a year after quitting a smoking habit, while many competitors require two years or longer before reassessing premium rates.
Comparing the best life insurance companies in Missouri
Company | Policygenius rating | Best for | Types of policies | |
|---|---|---|---|---|
Legal & General America | 4.9 / 5 | Overall, cheapest, term life, smokers, young adults | 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 | |
Pacific Life | 4.8 / 5 | No-medical-exam life | Term life, no-medical-exam life, universal life, indexed 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 Missouri?
Various factors can make one insurance company a better choice for you than another, but cost is one of the first considerations. Luckily, your state of residence shouldn’t affect your rates the way personal factors like age and health can.
According to the Policygenius Life Insurance Price Index in 2023, a healthy, non-smoking 35-year-old in Missouri seeking a 20-year, $500,000 policy can expect an average monthly premium of $25.76 for women and $30.79 for men.
What happens if a life insurance company goes bankrupt in Missouri?
The Missouri Department of Insurance sets detailed standards for life insurance companies in the state. These include rules about how much money the insurance company must hold in reserve so that they’re able to pay their obligations, including claims on policies.
These regulations make it extremely rare for a life insurance company to go bankrupt, even in tumultuous economic times. If a worst-case scenario occurred and a life insurance company does go bankrupt, Missouri has a guaranty association that can help ensure policyholders have options.
MIGA offers protection on various forms of life insurance, such as up to $300,000 in death benefits if your insurance company is financially insolvent. That may not cover the entire coverage amount of your policy, but it does ensure that your beneficiaries receive at least a portion of the benefit you intended for them.
To check a life insurance company’s financial standing, see our life insurance company reviews, especially the financial strength ratings.
How to find a lost life insurance policy in Missouri
The Unclaimed Life Insurance Benefits Act lays out guidelines for insurance companies to follow if a beneficiary doesn’t claim on a policy. Under the Act, insurance companies are advised to conduct periodic searches for policyholder’s names to look for matches on the U.S. Social Security Administration’s Death Master File. They may also be required to turn over unclaimed funds to the state within a certain period of time.
To locate an unclaimed life insurance policy in Missouri, start with the Missouri Department of Insurance’s Life Insurance Locator.
Missouri life insurance laws
Life insurance companies are built on large financial promises, and various agencies are involved in making sure those promises are taken seriously. The National Association of Insurance Commissioners (NAIC) works with government officials to maintain databases of insurance information and set best practices for insurance companies. Many states base their own best practices and standards for insurance companies on the NAIC’s example. Here are some rules for Missouri.
Free lookback period
Unlike many states, Missouri doesn’t impose an official “lookback” period for life insurance companies. Many companies set their own “free look” standard, often seven to 30 days. During that time, you can cancel and get a refund on your premiums.
Grace period for missed payments
Missouri has a legal grace period of 30 days during which an insurance company can’t cancel your policy for late payment.
Prompt payment-to-beneficiary rules
Beneficiaries in Missouri are also entitled to prompt payment of a claim from the insurance company. Missouri state law may, however, allow time for “reasonable investigation” to sort out uncertainties about the policy.
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