Buying a life insurance policy can help provide financial protection for your loved ones, but choosing the right policy can be confusing. There are several types of life insurance policies available. Some, like term life insurance, last for a set number of years. Others, like permanent life insurance policies, can provide coverage that lasts a lifetime while offering additional savings or investment components.
To help you get started, we’ve compiled a list of the top life insurance companies of 2022. We’ve also gathered information about different types of policies, how the life insurance quote process works, and how to purchase a policy once you find the right one.
Our Best Life Insurance Companies Rating
Any rates listed are for illustrative purposes only. You should contact the insurance company or insurance agent directly for applicable quotes.
* Monthly costs are for a 35-year-old female for a $1,000,000 coverage policy of a 20-year term.
Best Life Insurance Companies of 2022 in Detail:
Haven Life »
Policies: Haven Life offers two term life policies. Haven Term has coverage from 10 to 30 years and up to $3 million. Haven Simple has coverage from 5 to 20 years and up to $500,000. Haven Simple also doesn’t require a medical exam.
Riders: Haven Life Plus is a rider that can be added to your term life insurance policy. It adds things like discounts on CVS MinuteClinic services as well as access to financial and estate-planning services.
Age Limits: Haven Term is limited to those 64 and under; Haven Simple is limited to those between the ages of 20 and 55.
Offers term, whole, and universal life policies
Term policies can be converted to permanent
Policies are more expensive than many companies in our rating
Policies aren’t fully explained on the company website
New York Life
Policies: New York Life offers term and permanent (whole and universal) life insurance policies. The term policies can be converted into permanent policies. Its term policies are more expensive than most companies in our rating.
Riders: Some rider options include disability waiver of premium, accidental death benefit, and living benefits (allows access to policy funds in the event of terminal illness).
Age Limits: Contact a New York Life representative to find out if age limits apply.
Offers term, whole, and universal policies
Term policies can be converted to a whole life policy
Can only be purchased through an agent
Limited online pricing information
Policies: Northwestern Mutual offers term, whole, and universal life insurance policies. One of its universal policies gives you the option to customize death benefits and your premium. All policies must be purchased through an agent, but you can begin the application online.
Riders: Northwestern Mutual offers some of the most common riders, including waiver of premium benefit and accelerated care benefit.
Age Limits: The age limit for Northwestern Mutual policies can vary based on the kind of policy you choose. Contact a company representative for more detail.
Read more in our Northwestern Mutual review.
Policies: Lincoln Financial Group offers term and permanent life insurance policies. Its term policies have durations of 10 to 30 years, with coverage limits ranging from $100,000 to $2.5 million. In some cases, no medical exam is required to purchase a policy.
Riders: Lincoln Financial Group’s available riders depend on which policy you choose. For example, some policies have the option of adding on the Accelerated Benefits rider or the Waiver of Premium rider.
Age Limits: Age limits for Lincoln Financial Group life insurance policies vary depending on which policy you choose.
Read more in our Lincoln Financial Group review.