Best life insurance for nurses: What you need to know

The best life insurance companies for nurses are Legal & General America, MassMutual, Brighthouse Financial, and Mutual of Omaha.

Headshot of Tory Crowley
Headshot of Andrew Hurst

By

Tory CrowleyAssociate Editor & Licensed Life Insurance AgentTory Crowley is an associate editor and a former licensed insurance agent at Policygenius. Previously, she worked directly with clients at Policygenius, advising nearly 3,000 of them on life insurance options. She has also worked at the Daily News and various nonprofit organizations.&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

Antonio Ruiz-CamachoAntonio Ruiz-CamachoAssociate Content DirectorAntonio helps lead our life insurance and disability insurance editorial team at Policygenius. Previously, he was a senior director of content at Bankrate and CreditCards.com, as well as a principal writer covering personal finance at CNET.
|

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|3 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.

Policygenius content follows strict guidelines for editorial accuracy and integrity. Learn about our editorial standards and how we make money.

If you’re a nurse, life insurance can help protect any loved ones who rely on your income. That’s why finding the right life insurance company is an essential part of financial planning. 

We used industry data, pricing from our partners, and third-party ratings from AM Best and J.D. Power to pick the best life insurance companies for nurses. The best company for you will depend on lots of factors, like your age and coverage needs – but these top companies are a good place to start.

If you’re ready to compare life insurance quotes and find the right coverage, Policygenius can help.

Ready to shop for life insurance for nurses?

Start Calculator

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 term life insurance for nurses is Legal & General America, which also does business as Banner Life and William Penn in some states. Legal & General America tops our list because it offers term limits up to 40-years and policies with up to $10 million in coverage for qualified applicants.

What is term life insurance?

Term life insurance is the cheapest and most practical type of life insurance for most people. Here’s how it works: If you die during the time your policy is active — its “term” — your family receives a payment.

Best whole life insurance for nurses: MassMutual 

award icon

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 ($$$$$).

$

$

$

$

$

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

The best whole life insurance for nurses comes from MassMutual. MassMutual’s whole life rates are more affordable than competitors, and it has a high financial strength rating from AM Best, which is especially important for permanent life insurance.

What is whole life insurance?

Whole life insurance might be right for you if you want to use your life insurance as an investment, or provide for dependents with lifelong needs. Whole life insurance never expires and comes with a cash value component that gains interest over time. If you’re already maximizing your contributions to tax-advantaged accounts like a Roth IRA or a 401(k) and are seeking another investment option, whole life insurance might work for you.

We found that Legal & General America has some of the cheapest life insurance rates on the market. While average rates are low for healthy applicants, Legal & General America also offers affordable rates for certain pre-existing conditions, like diabetes or heart disease.

Best no-medical exam life insurance for nurses: Brighthouse Financial

award icon

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 ($$$$$).

$

$

$

$

$

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

The best no-medical-exam life insurance company for nurses is Brighthouse Financial. If you’re eligible for a no-med policy, you may be able to get up to $3 million in coverage without taking a medical exam. You may even be able to get a policy in one phone call.

How does no-medical exam life insurance work?

You answer health questions by phone instead of in an in-person exam, then the insurance company reviews your answers to determine whether you’re eligible — it’s best for healthy applicants with few risk factors.

Best final expense life insurance for nurses: Mutual of Omaha

Mutual of Omaha

Mutual of Omaha 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

4.5

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 ($$$$$).

$

$

$

$

$

No-medical-exam option

Why we chose itchevron icon

Mutual of Omaha is a reputable company that offers a variety of life insurance products — including a no-medical-exam option — so that you can select the type of life insurance that best suits your needs.

Pros and conschevron icon

Pros

  • No-medical-exam options for older applicants

  • Strong financial and customer ratings

Cons

  • Policies are more expensive than average

  • Slow turnaround time

The best final expense life insurance company for nurses is Mutual of Omaha, thanks in part to its affordable rates. Mutual of Omaha also offers two coverage levels depending on your health — up to $25,000 in coverage for simplified coverage or up to $40,000 for preferred coverage.

What is final expense life insurance?

If you can’t get standard life insurance coverage, final expense coverage is a good way to pay for end-of-life costs, like funeral and burial expenses. This type of coverage is permanent (meaning it lasts for the rest of your life) and usually offers a death benefit between $10,000 and $40,000.

Why nurses need life insurance

There are a few reasons why it’s a good idea for nurses to have life insurance.

  • Protecting your family: Life insurance can help your family cover expenses and avoid taking on more debt in the event of your unexpected death.

  • Paying off debt: Your dependents can use a life insurance payment to pay off any debts you might leave behind, like student loans, taxes, or a mortgage. 

  • Supplementing employer insurance coverage: While you might get some life insurance through work, that kind of coverage typically isn’t enough to provide for your family.

If you’re not sure how much life insurance you need and how long your coverage should last, we can help. Our agents can go over your coverage options with you and walk you through the entire process.

How working as a nurse will affect getting life insurance

There’s nothing about being a nurse on its own that will affect your ability to get life insurance. That said, if you travel to certain countries outside of the U.S. for work, or if you’re a medical missionary, you might have a harder time finding life insurance. 

Also, any medication you’ve been prescribed will show up on a prescription history check, so be sure to be honest about your health when you apply for coverage.

What do our licensed experts say?

“As a licensed agent, I’ve helped multiple healthcare workers apply for life insurance. In some cases, a medication they tried in the past affected their insurance offers — even if that medication didn’t represent their overall health." - Tory Crowley

→ Learn more about how your job affects your life insurance rates

How much does life insurance cost for nurses?

The average cost of life insurance for a nurse is about $46 per month for a 20-term life policy with a $1 million death benefit payout. 

Your exact rates ultimately depend on several factors, including your gender, age, and health. If you have limited or well-maintained health issues, you’ll likely be able to get the coverage you need at an affordable rate.

Term life insurance rates for nurses

The rates below offer an estimate for what you might pay for a 20-year term life insurance policy with a $1 million death benefit payout.

Age

Gender

$1 million coverage amount

20

Female

$32.38

Male

$44.72

30

Female

$35.48

Male

$45.94

40

Female

$58.49

Male

$71.45

50

Female

$131.18

Male

$174.90

60

Female

354.88

Male

$500.52

Collapse table

Methodology: Average monthly estimated rates are calculated for male and female smokers and  non-smokers in the Preferred health classification, obtaining a 20-year $1,00,000 term life insurance policy. Life insurance rates are based on 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 may vary by insurer, term, coverage amount, health class, and state. Not all policies are available in all states. Rate illustration valid as of 01/01/2024.

Whole life insurance rates for nurses

The following is an estimate for what you might pay for a whole life insurance policy with a $1 million death benefit payout. 

Age

Gender

$1 million coverage amount

20

Female

$545

Male

$639

30

Female

$801

Male

$920

40

Female

$1,161

Male

$1,372

50

Female

$1,826

Male

$2,117

60

Female

$3,065

Male

$3,556

70

Female

$5,580

Male

$6,198

Collapse table

Methodology: Average monthly estimated rates are calculated for male and female insureds obtaining a whole life insurance policy of $1,000,000 from MassMutual. Life insurance rates are based on policies offered by Policygenius and may vary by insurer, term, coverage amount, health class, and state. Not all policies are available in all states. Rate illustration valid as of 01/01/2024.

Final expense life insurance rates for nurses

The following is an estimate for what you might pay for a $25,000 final expense life insurance policy.

Age

Gender

$25,000 coverage amount

50

Female

$74.47

Male

$98.96

60

Female

$105.21

Male

$140.69

70

Female

$158.19

Male

$215.16

Collapse table

Methodology: Average monthly estimated rates are calculated for male and female insureds obtaining a final expense life insurance policy of $25,000 from Mutual of Omaha. Life insurance rates are based on policies offered by Policygenius and may vary by insurer, term, coverage amount, health class, and state. Not all policies are available in all states. Rate illustration valid as of 01/01/2024.

→ Learn more about life insurance rates

Ready to shop for life insurance for nurses?

Start Calculator

Life insurance for other occupations

Frequently asked questions

Should nurses get life insurance?

You should get life insurance if you’re a nurse and you expect to earn a large income, have debts like a mortgage, or you have a family who relies on your salary. Term life insurance will be your best option if you are eligible

Do nurses have life insurance?

You probably get a small amount of life insurance coverage as part of your benefits if you work full time as a nurse. But if your nursing job is part-time, you’re an independent contractor, or you expect to change employers someday, your coverage isn’t guaranteed.

How much life insurance should a nurse get?

While it’s commonly recommended you get 10 to 12 times your annual income in life insurance coverage, the exact amount of life insurance you need depends on your personal financial circumstances, especially your debt and the type of policy you want.

Authors

Tory Crowley is an associate editor and a former licensed insurance agent at Policygenius. Previously, she worked directly with clients at Policygenius, advising nearly 3,000 of them on life insurance options. She has also worked at the Daily News and various nonprofit organizations.

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

Antonio helps lead our life insurance and disability insurance editorial team at Policygenius. Previously, he was a senior director of content at Bankrate and CreditCards.com, as well as a principal writer covering personal finance at CNET.

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.

Questions about this page? Email us at .