Expert-Rated 2024 Term Life Insurance Companies

After analyzing policy characteristics and expenses for twenty big life insurers, we determined that Corebridge Financial, Pacific Life, Protective and Symetra are the top term life insurance providers.

One easy, low-cost approach to get protection for a certain length of time is term life insurance. Your prices are locked in, and often you have several reasonably priced choices at hand.

Our Selection of the Optimal Term Life Insurance

We assessed every firm according to cost, convertibility choices, and renewability. Our editors are dedicated to provide you objective evaluations and data. Advertisers have no effect on our editorial materials. Insurance firms are assessed using data-driven approaches. Further reading on our editorial policies and approach is available below.

A term life insurance policy costs what?

For a buyer age forty, the average monthly cost of a $500,000 term life insurance policy is $19 for a 10-year term, $28 for a 20-year term and $48 for a 30-year term. That works depending on the term length $228 to $576 annually.

Comparative Cost: Best Term Life Insurance Companies

From the top term life insurance providers in our research, below are yearly prices.

Variations in Term Life Insurance Rates: Factors

Usually considering these elements influencing term life insurance premiums, life insurance firms

Healthcare.

Insurers use your health—including height, weight, medicines, medical history, smoking status, drug misuse history, parent and sibling health history—to project your life expectancy. Additionally evaluated will be your life insurance medical exam findings (should they be needed).

Driving record.

When deciding your risk level, life insurers take into account violations on your driving record including DUIs and careless driving.

Record in criminal law.

Many times, major offenses and repeated felonies cause a drop.

Dangerous pursuits.

Risky interests like scuba diving and flying might cause more rates or maybe a drop.

debt and money.

Sometimes life insurance companies utilize risk ratings based on credit and public records including bankruptcies.

Will a medical check improve my term life insurance rates?

Examining medical issues might result in improved term life insurance quotations. Particularly when compared to more costly choices like guaranteed issue life insurance, traditional life insurance plans with medical tests are seen as lesser risk for the insurer and might result in cheaper rates if you are in excellent health.

However, there are more and more choices for no-exam life insurance with cost either comparable with, or even less than, plans requiring a medical exam.

The highest age allowed for term life insurance is what?

A Forbes Advisor study of term life insurance firms shows that the maximum issue age for term life insurance averages age 74, for a 10-year term life policy. Max problem ages ranged from 60 to 80.

With term life insurance, does one lose money?

Unless you bought return of premium term life insurance, you would “lose” all premiums paid throughout the period of a term life insurance policy if you outlive it.

There is no death benefit paid should you outlive a term coverage. Your money, nevertheless, paid for coverage throughout the insurance period.

Should you live beyond the term of your life insurance policy?

Should your life insurance term run out, you may usually renew the policy at a much higher premium—if that option is available. Alternatively you may be shopping for a new life insurance coverage.

Should you die after the term of a term life insurance policy ends, your beneficiaries will not be paid a death benefit.