Best life insurance companies in North Carolina

The best life insurance companies in North Carolina are Legal & General America, Brighthouse Financial, MassMutual, Lincoln Financial, Pacific Life, Corebridge Financial, and Prudential.

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By

Andrew HurstSenior Editor & Licensed Auto Insurance ExpertAndrew Hurst is a senior editor and a licensed auto insurance expert at Policygenius. His work has also been featured in The New York Times, The Wall Street Journal, Forbes, USA Today, NPR, Mic, Insurance Business Magazine, ValuePenguin, and Property Casualty 360.

Edited by

Anna SwartzAnna SwartzSenior Managing Editor & Auto Insurance ExpertAnna Swartz is a senior managing editor and auto insurance expert at Policygenius, where she oversees our car insurance coverage. Previously, she was a senior staff writer at Mic.com, as well as an associate writer at The Dodo.
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Reviewed by

Ian Bloom, CFP®, RLP®Ian Bloom, CFP®, RLP®Certified Financial PlannerIan Bloom, CFP®, RLP®, is a certified financial planner and a member of the Financial Review Council at Policygenius. Previously, he was a financial advisor at MetLife and MassMutual.

Updated|5 min read

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Where you live doesn’t actually affect what you pay for life insurance. Your life insurance rates depend on personal factors like your health and medical history, the kind of policy you get, and how much coverage you need.

That’s why our picks for the top life insurance companies in North Carolina are similar to our picks for the overall best life insurance companies — though your location can affect company availability and life insurance laws and regulations.

Policygenius rating

Best for …

AM Best score

Number of complaints

Cost

Legal & General America

4.9/5 ★

Overall, cheapest, term life

A+

Fewer than average

$

Brighthouse Financial

5.0/5 ★

No-medical-exam life, Young adults

A

More than average

$

MassMutual

4.9/5 ★

Whole life

A++

Fewer than average

$$$

Lincoln Financial

4.8/5 ★

Pre-existing conditions, marijuana users

A

Fewer than average

$

Pacific Life

4.8/5★

Guaranteed universal life

A+

Fewer than average

$

Corebridge Financial

4.6/5 ★

Smokers

A

More than average

$

Prudential

4.1/5 ★

Seniors

A+

Fewer than average

$$

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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

The best life insurance company in North Carolina is Legal & General America, which also does business as Banner Life and William Penn in some states. We chose Legal & General America because it has affordable life insurance rates whether you’re in good health or have a spotty medical record.

Legal & General America also offers flexible policy options. You can even convert your policy from term to universal life insurance up until age 70 if you decide you want something more permanent.

Legal & General America has cheap life insurance rates in North Carolina, but remember: your location doesn’t actually affect the cost of life insurance. Legal & General is just a cheap option for most people.

The best way to find affordable life insurance wherever you live is by comparing quotes from different companies before buying coverage and getting life insurance while you’re young, since rates only go up as you age.

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The best company for term life insurance in North Carolina is Legal & General America. We like that Legal & General offers term lengths up to 40 years and policies worth up to $65 million in coverage. Most other companies only offer up to 30-year terms.

Term life insurance is one of the most straightforward types of life insurance policies: you just pick how long you want your coverage to last (the term) and the amount you want your loved ones to receive (the death benefit). If you die while the policy is active, your family will receive a payment.

Best no-medical-exam life insurance in North Carolina: Brighthouse Financial

The best company for no-medical-exam life insurance in North Carolina is Brighthouse Life. You may be able to get a policy with a 30-year term for up to $3 million in coverage without taking a medical exam. You may even receive a decision in as little as 24 hours.

A no-medical-exam life insurance policy is like a regular term life policy, except you don’t need to go through a medical exam, so the whole process is much faster (though each company has different restrictions). It’s usually an option for younger applicants or people with clear health histories.

Best whole life insurance in North Carolina: MassMutual

MassMutual is the best whole life insurance company in North Carolina thanks to its high financial strength ratings (it earns A++ from AM Best). Since whole life insurance is permanent, meaning it can last for your whole lifetime, stability is important.

A whole life policy is both a life insurance policy and a kind of retirement account. It has a death benefit, but it also has a cash value component that gains interest over time and that you can access while you’re alive.

Best guaranteed universal life insurance in North Carolina: Pacific Life

Pacific Life is the best guaranteed universal life insurance company in North Carolina. It’s got an A+ financial strength rating from AM Best, affordable rates, and offers coverage for applicants up to 80 years old.

Guaranteed universal life insurance might be right for you if you want affordable permanent life insurance coverage, since it’s cheaper than whole life insurance.

Best life insurance for seniors in North Carolina: Prudential

Prudential is the best life insurance company for seniors in North Carolina, since it offers coverage to applicants up to age 70. Prudential even offers policies for applicants with certain age-related health conditions, like a past heart attack, melanoma, osteoporosis, and others.

Best life insurance for young adults in North Carolina: Brighthouse Financial

Brighthouse Financial is the best life insurance company for young adults in North Carolina. Young applicants may be able to qualify for a 30-year term life insurance policy even if they’re currently smokers. If you’re young and in good health, you may also be able to get up to $3 million in coverage with Brighthouse Financial’s instant-approval life insurance (that just means no medical exam).

Best life insurance for pre-existing conditions in North Carolina: Lincoln Financial

The best life insurance company in North Carolina for pre-existing medical conditions is Lincoln Financial. That’s because Lincoln offers coverage to people with common pre-existing conditions, like epilepsy, hernia, irritable bowel syndrome, or if a history of alcohol use disorder.

Best life insurance for marijuana users in North Carolina: Lincoln Financial

Lincoln Financial is the best life insurance in North Carolina if you use marijuana because it doesn’t classify cannabis users as smokers. Lincoln Financial may still offer you affordable rates if you use marijuana up to six times a week.

Be sure to tell the truth about any marijuana use when you apply for life insurance (even though it isn’t legal in North Carolina). Otherwise your insurance company may deny a future claim.

Best life insurance for smokers in North Carolina: Corebridge Financial

The best life insurance company for smokers in North Carolina is Corebridge Financial. Your rates will still be more expensive than average if you smoke, but you can apply for better rates one year after quitting. Corebridge also offers affordable rates for cigar smokers (but not if you use other forms of tobacco).

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How is life insurance different in North Carolina?

Although living in North Carolina won’t affect your life insurance rates, it can affect certain insurance rules and regulations. [1]

  • Contestable period: If your insurance company finds out that you misrepresented yourself on your application within the first two years after purchase, it can rescind your policy or deny a claim.

  • Free look period: You have 10 days to cancel a new policy (or 20 days for a replacement policy) and still get a full refund in North Carolina.

  • Grace period: You have a 31 day grace period to make up a missed payment before your insurance company can cancel your policy in North Carolina.

  • Guaranty Fund protection: If your life insurance company goes bankrupt, the North Carolina Guaranty Association will cover up to $300,000 in benefits per person — even if you have multiple policies.

  • Time to settle a claim: Insurance companies have 30 days to settle claims after receiving proof of death in North Carolina.

Largest life insurance companies in North Carolina

Here are the 10 largest life insurance companies in North Carolina. [2]

A bar graph of the largest life insurance companies by market share in North Carolina. The largest company is Northwestern Mutual.

Company

Market share in North Carolina

Northwestern Mutual

6.18%

Sammons

5.89%

MetLife

5.76%

Protective

5.54%

Lincoln Financial

4.76%

New York Life

4.29%

Prudential

3.80%

Nationwide

3.50%

Southern Farm Bureau

3.32%

MassMutual

3.13%

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What happens if a life insurance company goes bankrupt in North Carolina?

If your life insurance company goes bankrupt, North Carolina’s Guaranty Association will cover up to $300,000 of your policy’s death benefits as long as you continue paying your premiums. This is a per-person limit, so if you have more than one policy, your coverage will be even more limited.

How to find a lost life insurance policy in North Carolina

You can use the Life Insurance Policy Locator Service from the National Association of Insurance Commissioners to find a lost life insurance policy in North Carolina, but only if you have a connection to the person whose policy you’re looking for.

Average life insurance rates in North Carolina

According to Policygenius data from 2024, life insurance in North Carolina for a healthy 35-year-old 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 — though your exact rates depend on other factors specific to you.

Age

Gender

$250,000 coverage amount

$500,000 coverage amount

$1 million coverage amount

20

Female

$15.01

$22.65

$33.63

Male

$19.18

$30.20

$47.51

30

Female

$15.17

$22.98

$36.90

Male

$18.19

$29.32

$48.89

40

Female

$21.66

$35.27

$60.65

Male

$25.39

$42.94

$75.24

50

Female

$43.92

$78.29

$139.50

Male

$56.69

$102.50

$188.29

60

Female

$107.83

$194.16

$354.51

Male

$149.38

$268.09

$499.98

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Methodology: Average monthly rates are calculated for male and female non-smokers in a Preferred health classification obtaining a 20-year $250,000, $500,000, or $1,000,000 term life insurance policy. Life insurance averages are based on a composite of policies offered by Policygenius from Brighthouse Financial, Corebridge Financial, Foresters Financial, Legal & General America, Lincoln Financial, Mutual of Omaha, Pacific Life, Protective, Prudential, Symetra, and Transamerica, and the Policygenius Life Insurance Price Index, which uses real-time data from leading life insurance companies to determine pricing trends. Rates may vary by insurer, term, coverage amount, health class, and state. Not all policies are available in all states. Rate illustration valid as of 02/01/2024.

Frequently asked questions

What is the number one life insurance company in North Carolina?

Legal & General America is the best life insurance company in North Carolina. We chose it because it offers low rates even for people with different health risks, has a range of coverage options, and has high customer service ratings.

What is the life insurance free look period and grace period in North Carolina?

North Carolina has a mandatory free look period of 10 days after you buy a policy. It has a grace period of 31 days after a missed payment.

What types of life insurance are available in North Carolina?

You can purchase term, whole, no-medical-exam, guaranteed universal life, and final expense life insurance in North Carolina.

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References

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Policygenius uses external sources, including government data, industry studies, and reputable news organizations to supplement proprietary marketplace data and internal expertise. Learn more about how we use and vet external sources as part of oureditorial standards.

  1. North Carolina Department of Insurance

    . "

    Standard Policy Provisions and Optional Riders

    ." Accessed January 19, 2024.

  2. National Association of Insurance Commissioners

    . "

    Life and fraternal insurance industry 2021: Top 25 groups and companies by countrywide premium

    ." Accessed August 21, 2023.

Author

Andrew Hurst is a senior editor and a licensed auto insurance expert at Policygenius. His work has also been featured in The New York Times, The Wall Street Journal, Forbes, USA Today, NPR, Mic, Insurance Business Magazine, ValuePenguin, and Property Casualty 360.

Editor

Anna Swartz is a senior managing editor and auto insurance expert at Policygenius, where she oversees our car insurance coverage. Previously, she was a senior staff writer at Mic.com, as well as an associate writer at The Dodo.

Expert reviewer

Ian Bloom, CFP®, RLP®, is a certified financial planner and a member of the Financial Review Council at Policygenius. Previously, he was a financial advisor at MetLife and MassMutual.

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