Best Term Life Insurance Companies: Reviews | CentSai

Best Life Insurance Companies

Last updated: September 22, 2019
Best Overall

Life Insurance Made Simple. After you apply online, Quotacy checks other top-rated life insurance companies to make sure you’re getting the best price.

  • Get free quotes & compare multiple policies under 5 Mins
  • No contact information needed for quotes
  • The Quotacy team works on salary, not commission
Tobacco Users Accepted

John Hancock was founded in 1862 and is headquartered in Boston, Massachusetts. They serve over 3.5 million policyholders and pay over $2.3 billion in claims annually.

  • Time in Business: 157 Years
  • AM Best Financial Rating: A+
  • Smooth, accelerated underwriting process
  • Excellent for Tobacco Users
Affordable Life Insurance

Mutual of Omaha falls on the more affordable end of the scale at $10-$19.03/month for a $250,000 term policy (30 year old female with good health, 30 year policy). Offers a variety of insurance products.

  • Time in Business: 110 Years
  • AM Best Financial Rating: A+
  • Great option for Individuals with driving records
  • Ideal for individuals with family health issues
Various Lifestyles Coverage

Regardless of what stage of life an individual may be in, Prudential offers a form of life insurance that can help build a strong financial foundation.

  • Locations in 41 countries
  • Time in Business: 144 Years
  • Excellent for Active Military Members
  • Best option for Individuals with driving record issues (DUI/DWI)
No Exclusions

AIG is one of the biggest insurers in the world, serving 90 million customers in about 80 countries. AIG’s financial strength is “excellent,” according to ratings agency A.M. Best.

  • Time in Business: 98 Years
  • Excels at competitive pricing
  • Excellent for Foreign Nationals and Travel
Best For Families

Principal Financial Group offers excellent term life insurance policies in addition to universal life, variable universal life, and survivorship insurance around the world.

  • Time in Business: 140 Years
  • Covers children with health impairments
  • Excellent for Aviation and Pilots
  • Covers illnesses like: ADHD

Why Consider Life Insurance?

There are many reasons to buy life insurance. Here are some of the most common factors:
1. You are pregnant or having another child.
2. You are getting married.
3. You are getting divorced.
4. A family member or friend has gotten a terminal illness or died.
5. You are buying a home.
6. You’ve increased your financial debt.
7. You need to cover funeral expenses.

Unlike permanent life insurance, term life insurance is for a finite period — usually 10, 15, 20, 25, or 30 years — and is renewable. It’s cheaper than permanent life insurance and is an effective way to financially help your dependents if you unexpectedly die during your prime working years. Your spouse, children, or both are paid a sum of money, for which you take out an insurance policy.

When you look for life insurance, you should take a couple of things into account. First, consider the financial health of the insurer. The company needs to have the ability to pay for a claim when you or your beneficiary makes one.

Second, look for disability protection and end-of-life care. If you’re disabled and unable to pay your premiums, your insurance policy should still be intact. And with end-of-life care, you will be able to draw on the value of the policy to meet expenses for life-saving care if needed. We’ve compiled a list of the best term life insurance companies to help you out.