Compare accounts
Get guidance
Money market accounts
Money market accounts are similar to savings accounts, but offer some checking features as well.
Banking
Unlock financial rewards by signing up for a savings or checking account with a bonus offer.
Compare rates
Buying & selling
Knowing what to look for in a real estate agent is critical. Here's how to choose the best fit for your needs.
Compare investments
Compare plans
Finding an advisor
Compare cards
Find my matches
See your card matches
Answer a few quick questions and we’ll show you your top credit card options.
See what the experts say
Read in-depth credit card reviews to find out which cards have the best perks and more.
Get advice
Build credit
Compare lenders
HELOC
A HELOC is a variable-rate line of credit that lets you borrow funds for a set period and repay them later.
Home equity basics
Home equity loans
Home equity loans let you borrow a lump sum at a fixed rate, based on how much of the home you own outright.
Popular states
Calculators
Powered by HomeInsurance.com (NPN: 8781838)
This advertising widget is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate. HomeInsurance.com LLC services are only available in states where it is licensed and insurance coverage through HomeInsurance.com may not be available in all states. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity , this post may contain references to products from our partners. Here's an explanation for how we make money . This content is powered by HomeInsurance.com (NPN: 8781838). For more information, please see our Insurance Disclosure .
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.
Bankrate’s editorial team writes on behalf of YOU — the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information.
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.
Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.
We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.
Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.
This content is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate.com. HomeInsurance.com LLC services are only available in states where it is licensed and insurance coverage through HomeInsurance.com may not be available in all states. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
On This Page
Choosing a life insurance policy doesn’t have to be complicated. If you’re looking for a simple, affordable way to protect your family, term life insurance could be a solid choice. It covers a set period — typically 10, 20 or 30 years — helping to provide financial security when it’s needed most, like during mortgage payments or while raising kids. Since it’s usually more budget-friendly than permanent life insurance, term coverage can work well for families who want reliable protection without a lifelong cost commitment. To help you decide which option best fits your needs, we’ll break down the top policies to help you make a confident, informed choice.
Compare life insurance providers quickly and easily
See which provider is right for you.
Whole life insurance combines life insurance with an investment component.
Term life insurance is precisely what the name implies: an insurance policy that is good for a specific term of time.
The best J.D. Power customer satisfaction scores, as well as the policy options and available coverage capacities (the maximum dollar amount a policy can be). It may be helpful to start your research with the following providers:
3.4
Why Guardian made our list: Guardian stands out for its flexible term lengths and variety of riders, which could make it a strong contender for those looking to personalize their life insurance coverage. With an A++ financial strength rating from AM Best, Guardian has the backing to pay out claims reliably. While the company doesn’t have its own network of agents, it connects customers with financial professionals who can guide them through the buying process.
Checkmark IconPros
Close X IconCons
4.3
Why Lincoln Financial Group made our list: Lincoln Financial Group provides flexible term life insurance options with high coverage limits and a potential no-exam application process for qualifying applicants. The company focuses on financial planning, which may appeal to those looking to integrate life insurance into a broader wealth strategy. While 2025 Bankrate Award for Best No-Exam Life Insurer (tie) highlights its position among companies streamlining the life insurance process.
4.4
Why Pacific Life made our list: Pacific Life offers high coverage term life insurance options along with a variety of riders to customize policies. With two term products — Promise Term and Elite Term — coverage can start as low as $50,000 or go beyond $3 million. These policies are also convertible to permanent life insurance, giving policyholders future flexibility. Pacific Life ranked above average in J.D. Power’s 2024 U.S. Individual Life Insurance Study and maintains a strong financial rating of A+ (Superior) from AM Best, indicating financial stability.
4.9
Why State Farm made our list: State Farm has earned the 2025 Bankrate Award for Best Term Life Insurer for the fourth consecutive year, backed by strong financial ratings and top customer satisfaction scores. With several term life options, including Instant Answer Term for quick coverage approval, policyholders have flexibility in choosing coverage lengths. State Farm’s Return of Premium term policy also offers a rare benefit — refunds on premiums if the policyholder outlives the term. While its digital tools help simplify the process, policyholders can also work with a nationwide network of agents to get personalized guidance.
4.1
Why Symetra made our list: Symetra’s SwiftTerm policy offers one of the fastest application processes in the industry, providing no-exam coverage in as little as 18 minutes for qualified applicants. Additionally, Symetra’s coverage limits of up to $5 million make it a noteworthy option for those seeking substantial protection without a lengthy approval process. However, those interested in applying will need to work with a financial professional, as Symetra does not offer direct online applications. Symetra was also named a 2025 Bankrate Award winner for Best No-Exam Life Insurer (tie).
Many insurers now offer term life insurance with accelerated underwriting, allowing eligible applicants to obtain coverage without undergoing a medical exam. This process uses data from your application, health records and other sources to assess risk quickly, making it easier and faster to get insured.
Even if insurers do not explicitly advertise these no-exam options, it's becoming increasingly common for them to implement such processes. It's worth asking your insurer if no-exam options are available, as many companies may offer them even if they aren't prominently featured.
For those specifically seeking no-exam term life insurance, companies like Symetra primarily offer policies that do not require a medical exam. These providers streamline the application process, often allowing you to get covered in a matter of minutes if eligible.
There are several factors to consider when shopping for a quality term life insurance policy. Since your life insurance will ultimately be responsible for providing the coverage you want for your family, these considerations may be beneficial to keep in mind when determining which provider is right for you. In addition to policy types, you could consider the following.
Customer satisfaction scores may provide insight for consumers looking to purchase insurance products. These scores reflect how satisfied existing customers may be with the customer service and claims process. You might use these scores to get an idea of how your customer experience could be and which carrier might best fit your expectations.
A life insurance company’s financial strength score reflects its past ability to pay out claims and could help you decide if a company is financially sound. Third-party agencies such as AM Best, Fitch, Moody’s and S&P publish financial strength ratings for each major provider.
When sorting through the top term life insurance companies, it's important to consider your specific needs and circumstances. Term life insurance provides coverage for a set number of years, making it a suitable option for temporary needs like covering debts or providing for your children while they are young. However, it might not be the best choice if you require lifelong coverage.
Many term policies offer options for renewability or conversion, allowing you to extend your coverage or convert it to a permanent policy without undergoing a new medical exam. This can be a valuable feature if your needs change over time.
If you are looking for coverage beyond a set term, such as for final expenses or to support a lifelong dependent, permanent life insurance might be more appropriate. Here are a few options to consider:
Term life insurance quotes can vary significantly between insurers, depending on your individual risk factors. Comparing quotes is beneficial, as it can potentially save you a substantial amount of money, particularly if you have a pre-existing condition since insurers can evaluate and price various health risks differently.
Additionally, consider auto policies, which can lower your overall insurance expenses.
Term life insurance is a type of life insurance that offers coverage for a set period of time, or term. Term life is usually the most affordable type of life insurance because it only lasts for a specific number of years, usually 10 to 30 years. Unless you buy return-of-premium life insurance, you receive nothing back if you outlive the term. However, many term life insurance policies offer the option to convert to a permanent life insurance policy at the end of the term. Many carriers also provide the option to renew a term life policy annually if you still need coverage past the expiration date.
Term insurance is designed to provide a death benefit if the insured passes away within the policy term. As the name suggests, term life insurance remains active for a predetermined “term,” which is the window of time that the policyholder chooses — typically between 10 and 30 years. When the term expires, the policyholder stops paying the premiums and the death benefit will no longer be paid out. Whole life insurance, on the other hand, is a type of permanent policy designed to provide coverage for your entire life. It typically offers a death benefit and a cash value component you can borrow against. Because whole life insurance policies usually have guaranteed payouts and cash value accumulation, premiums are often ten times more expensive than a term policy.
Life insurance premiums are largely based on mortality risk. In general, the higher the likelihood someone has of passing away while the policy is active, the higher the premium will be. Each insurer has its own underwriting algorithm for calculating your rate. Although each underwriting process is different, your age, gender, weight, health conditions, smoking history and occupation are typically used to help calculate your premium. The amount of coverage that you want to purchase is another key factor in determining the cheap life insurance, it may be wiser to start shopping at a younger age.
Yes, having a preexisting condition can impact your ability to purchase term life insurance. Different insurers may view the seriousness of conditions differently, so comparing rates from various providers is important. If a life insurance provider approves you for a term life policy with a preexisting condition, your premium may be higher to reflect the health risks. However, insurers might be more likely to approve you if your condition is well-managed. For instance, maintaining a healthy lifestyle with Type 2 diabetes is likely to increase your chances of approval. Comparing rates is essential because each insurer has different underwriting guidelines, and finding the right one can help you secure better coverage at a more affordable rate. Speaking with a licensed insurance agent can also help you navigate your options effectively.
The cost of life insurance will vary based on your policy details and personal rating factors, but term life insurance coverage is typically cheaper than whole life insurance, a type of permanent coverage. This is because whole life insurance is designed to offer coverage for your entire life (maximum coverage ages range from 95 to 121) and guarantee a payout to your beneficiaries, as long as premiums are paid and terms of the policy are met. Term coverage, on the other hand, may not pay out a death benefit if you outlive the policy term and do not renew your coverage. That being said, the cost of life insurance coverage varies based on coverage amount and individual risk rating factors, so a term policy with a high coverage amount for an older individual may cost more than a permanent policy for a younger applicant with a low coverage amount.