If you’re a pro athlete, there are lots of factors to consider when choosing a life insurance company, including price, how easy it is to apply, how long the underwriting process is, and the maximum amount of coverage you can get.
We used industry data, pricing from Policygenius partners, and third-party ratings from AM Best and J.D. Power to pick the best life insurance companies for pro athletes.
Best term life insurance: Legal & General America
Best whole life insurance: MassMutual
Cheapest life insurance: Legal & General America
Best no-medical-exam life insurance: Brighthouse Financial
Best final expense life insurance: Mutual of Omaha
If you’re ready to compare life insurance quotes and find the right coverage, Policygenius can help.
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 term life insurance for professional athletes: Legal & General America
2024 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
The best company for term life insurance if you’re a professional athlete is Legal & General America, which also does business as Banner Life and William Penn in some states. Legal & General offers term lengths of up to 40 years up to $10 million of coverage for some applicants.
Best whole life insurance for professional athletes: MassMutual
2024 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 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 company for whole life insurance if you’re a professional athlete is MassMutual. Whole life insurance is usually expensive, but MassMutual’s rates for whole life are cheaper than average. It also receives an A++ for financial strength from AM Best, which is important for permanent life insurance.
Cheapest life insurance for professional athletes: Legal & General America
2024 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
We found that Legal & General America is the cheapest life insurance company if you’re a professional athlete. According to our analysis, Legal & General America has the best rates whether you’ve got a clean bill of health or you have a pre-existing medical condition.
Best no-medical-exam life insurance for professional athletes: Brighthouse Financial
2024 Policygenius award winner
Brighthouse Financial
5.0
No-medical-exam option
Why we chose it
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 cons
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
If you’re in good health and can qualify, Brighthouse Financial has the best no-medical-exam life insurance for athletes. Certain applicants may be able to get a Brighthouse policy with up to $3 million in coverage without a medical exam, and cutting out the medical exam process means you can get a policy in as little as one day.
Best final expense life insurance for professional athletes: Mutual of Omaha
Mutual of Omaha
4.5
No-medical-exam option
Why we chose it
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 cons
Pros
No-medical-exam options for older applicants
Strong financial and customer ratings
Cons
Policies are more expensive than average
Slow turnaround time
Mutual of Omaha is our pick for the best final expense life insurance for athletes. Applicants over 45 years old may find cheap final expense coverage from Mutual of Omaha.
Why professional athletes need life insurance
There are a few reasons why you probably need life insurance if you’re a professional athlete:
Replacing income: If you die unexpectedly, life insurance can help replace your earnings and ease your family’s financial burden.
Covering debt: Having life insurance can pay off any debts, like student loans, a mortgage, or a car loan, so you don’t leave your family with them.
Supplementing employer insurance coverage: You might have some life insurance from your employer (unless you’re a private contractor), but employer-sponsored coverage is usually limited, so it’s still a good idea to have your own life insurance.
The best way to figure out how much life insurance you need and how long your coverage should last is by speaking with a Policygenius expert.
How working as a professional athlete will affect getting life insurance
Being an athlete can make it harder to get life insurance depending on your sport and the details of your work.
Runners and endurance athletes: It’s normal for your liver enzymes to be higher if you’re an endurance runner, especially if you’re training, but this could make your rates higher. Think about getting life insurance after a race or while your training schedule is light.
Weightlifters: If you do a sport where you need lots of muscle mass, it could affect your height-to-weight ratio and increase your rates.
Boxers and combat-sports athletes: Some sports are just riskier than others in the eyes of many insurance companies. If you’re an MMA fighter, the insurance companies will consider you a higher risk — and charge you higher rates to match.
International athletes: If you travel to certain countries outside of the U.S. for work, your eligibility for life insurance could be impacted and your rates could be higher.
It’s also common for athletes or former athletes to take some medications due to injury or strain. Make sure that you let insurance companies know about any medications or medical treatments you’ve had during your application interview.
How much does life insurance cost for professional athletes?
The average cost of life insurance for a 35-year-old professional athlete with one or two minor, well-managed health conditions is about $28 per month for a 20-term life policy with a $500,000 death benefit payout.
Your exact premiums 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 professional athletes
The rates below offer an estimate for what a professional athlete can expect to pay for a 20-year term life insurance policy with a $500,000 death benefit payout.
Age | Gender | $500,000 coverage amount |
|---|---|---|
20 | Female | $22.21 |
Male | $29.02 | |
30 | Female | $22.37 |
Male | $27.97 | |
40 | Female | $34.31 |
Male | $41.17 | |
50 | Female | $74.37 |
Male | $95.91 | |
60 | Female | $194.23 |
Male | $268.22 |
Methodology: Average monthly estimated rates are calculated for male and female smokers and non-smokers in the Preferred health classification, obtaining a 20-year $500,000 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 professional athletes
The following is an estimate for what a professional athlete can expect to pay for a whole life insurance policy with a $500,000 death benefit payout.
Age | Gender | $500,000 coverage amount |
|---|---|---|
20 | Female | $287 |
Male | $334 | |
30 | Female | $408 |
Male | $472 | |
40 | Female | $588 |
Male | $706 | |
50 | Female | $920 |
Male | $1,081 | |
60 | Female | $1,540 |
Male | $1,802 | |
70 | Female | $2,797 |
Male | $3,114 |
Methodology: Average monthly estimated rates are calculated for male and female insureds obtaining a final expense life insurance policy of $500,000 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 professional athletes
The following is an estimate for what a professional athlete can expect to 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 |
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.
Life insurance for other occupations
Frequently asked questions
Should professional athletes and runners get life insurance?
It’s a good idea to have life insurance if you’re a professional athlete or runner, especially if you have large debts or any dependents, you should get life insurance. It’s one of the best and most affordable ways for your dependents to replace your salary if you die unexpectedly.
Do professional athletes and runners have life insurance?
Depending on your employment compensation package, you may receive a small amount of life insurance coverage through your work, but it’s usually a much lower amount than what financial advisors recommend, it’s not a guaranteed benefit, and you lose coverage when you leave that employer.
How much life insurance should a professional athlete get?
You might consider getting enough life insurance coverage to replace about 10 to 12 times your annual income, but your ideal coverage will depend on their personal financial situation. A Policygenius expert can help give a personalized recommendation.
