Best term life insurance companies of January 2024 (2024)

If you need short-term financial protection for your family, term life insurance can make sense over more complex, costlier options such as whole life insurance. This flexible policy type can cover important expenses and financial goals if you pass away while insured. But to find the best term life insurance, you’ll need to consider factors such as the cost, policy features and insurance company’s reputation.

Methodology

To choose our winners for the best term life insurance, we analyzed dozens of companies and policies and narrowed down our list to the top 20. From there, we judged each company across 12 categories essential to good policies. We analyzed more than 1,600 data points and used more than a dozen primary data sources during our research. We chose winners based on their overall scores and our editorial judgment. Read our full methodology here.

Show summary

  • Minnesota Life/Securian Advantage Elite Select Life

    : Best all-around term life policy

  • Nationwide Guaranteed Level Term

    : Best for death benefit coverage options

  • Banner OPTerm

    : Best no-medical-exam term life policy

  • Protective Classic Choice Term

    : Best for term length options

  • State Farm

    : Best customer service

  • Pacific Life PL Promise Term

    : Great for converting to a permanent policy

  • Transamerica Trendsetter Super

    : Best for a small term life insurance policy

  • Symetra SwiftTerm

    : Best rates for females

Minnesota Life/Securian Advantage Elite Select Life

Best all-around term life policy

Average term life rate

$524.49

AM Best rating

A+ (Superior)

Online quote available

Yes

Best term life insurance companies of January 2024 (1)

5/5

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Why we picked it

Minnesota Life/Securian’s Advantage Elite Select term life policy performed strongly in almost every category we analyzed. It had the best issuing age range (16 to 80 years old), a good range of death benefits ($50,000 up to $5 million through its normal application) and terms ranging from 10 to 30 years. The policy has a no-medical-exam option, is renewable and can be converted to a permanent life policy.
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However, more than half of the insurers in our study had a lower average annual rate for term life insurance compared to Minnesota Life/Securian.

Pros

  • Can apply for coverage if you’re 16 to 80
  • Offers no-medical-exam options
  • Very low complaint rate over the past three years

Cons

  • Several other insurers in our study had lower average term life rates
  • Doesn’t offer as many term length options as other insurers

Who should use it

You’re a teen looking to secure coverage while you’re young and healthy or a senior looking for temporary life insurance to help cover your final expenses.

Nationwide Guaranteed Level Term

Best for death benefit coverage options

Average term life rate

$531.61

AM Best rating

A+ (Superior)

Online quote available

No

Best term life insurance companies of January 2024 (2)

4.8/5

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Why we picked it

Of the insurers we reviewed that offer unlimited death benefit coverage options, Nationwide had the highest overall score. Its Guaranteed Level Term policy offers a minimum death benefit of $100,000, and there’s no maximum — as long as the payout is appropriate for factors such as your income and age. This allows you to choose the best term life coverage for your needs.
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Although Nationwide’s average term life rate was below our study’s average, 13 other insurers we reviewed had lower averages.

Pros

  • No set maximum death benefit
  • Second-best score from J.D. Power for overall customer satisfaction
  • Offers no-medical-exam options

Cons

  • Several other insurers in our study had lower average term life rates
  • Can’t apply for coverage if you’re older than 70

Who should use it

You want a wide range of death benefit coverage options to choose from.

Banner OPTerm

Best no-medical-exam term life policy

Average term life rate

$480.99

AM Best rating

A+ (Superior)

Online quote available

Yes

Best term life insurance companies of January 2024 (3)

4.7/5

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Why we picked it

Banner’s OPTerm policy had the best rating in our review of the best no-exam life insurance of the companies that appeared in both studies. After applying for coverage, you may find out if you were approved instantly; otherwise, there’s a median wait time of about 12 days between when you submit your application and receive approval. You can request up to $2 million in coverage without having to take a medical exam.
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Banner restricts its OPTerm policy to those who are at least 20 years old and at most 75.

Pros

  • Rated as No. 4 in our study of the best no-exam life insurance
  • Sixth-lowest average annual term life rates
  • Offers seven term length options
  • Very low complaint rate over the past three years

Cons

  • Can’t apply for coverage if you’re younger than 20 years old or older than 75
  • Can only apply for up to $2 million of coverage without taking a medical exam

Who should use it

You’re looking for no-medical-exam life insurance coverage and want ample coverage with a relatively quick approval time.

Protective Classic Choice Term

Best for term length options

Average term life rate

$460.56

AM Best rating

A+ (Superior)

Online quote available

Yes

Best term life insurance companies of January 2024 (4)

4.6/5

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Why we picked it

With seven different term lengths to choose from, the Classic Choice Term plan from Protective is a great option for customizing your policy to fit your needs. It offers coverage periods in five-year increments, spanning from 10 years to 40 years.
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Despite providing the ability to customize your coverage, Protective fails to offer no-exam policies. It also had a below-average score in J.D. Power’s study of insurers’ overall customer satisfaction.

Pros

  • Offers seven term length options
  • Fourth-lowest average annual term life rates
  • Wide range of death benefit options
  • Low complaint rate over the past three years

Cons

  • Doesn’t offer no-medical-exam policies
  • Below-average score from J.D. Power for overall customer satisfaction

Who should use it

You’re looking for several term length and death benefit options to customize your term life policy.

State Farm

Best customer service

Average term life rate

$639.64

AM Best rating

A++ (Superior)

Online quote available

Yes

Best term life insurance companies of January 2024 (5)

4.6/5

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From participating partners

Why we picked it

State Farm had the top score in our study for how it treated its customers during interactions with them, the communication it provided, how competitive its premiums were, the range of life insurance products it offered and the statements it sent to customers detailing their policy’s performance.
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State Farm’s excellent customer service may come at a cost, however. Its average annual term life insurance rate for 30- and 40-year-old females and males was around $60 higher than our study’s average of $579.30. It also doesn’t offer a no-exam option or an accelerated death benefit rider.

Pros

  • Best score from J.D. Power for overall customer satisfaction
  • Very low complaint rate over the past three years
  • Highest financial strength rating from AM Best
  • No set maximum death benefit

Cons

  • Above-average annual term life rates
  • Doesn’t offer no-medical-exam policies or accelerated death benefit riders
  • Only offers three term length options

Who should use it

You value an insurance company’s reputation for customer service and want to choose an insurer that has a good chance of treating you well.

Pacific Life PL Promise Term

Great for converting to a permanent policy

Average term life rate

$452.93

AM Best rating

A+ (Superior)

Online quote available

No

Best term life insurance companies of January 2024 (6)

4.6/5

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From participating partners

Why we picked it

Of the policies with a conversion feature, which allows you to convert your term life coverage to permanent coverage during a specified time frame, Pacific Life had one of the most consistent performances for its permanent life products. It had strong scores for its policy costs and fees per $1 of death benefit, how accurate its predictions are about your policy’s performance and its cash value access and liquidity.
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However, the company’s return on cash value accounts (an investment component of permanent life insurance policies meant to grow in value over time) over the past five years wasn’t as good as several of its top-ranked competitors.

Pros

  • Excellent permanent life policies
  • Third-lowest average annual term life rates
  • Lowest complaint rate over the past three years
  • Above-average score from J.D. Power for overall customer satisfaction

Cons

  • Cash value performance over past five years is worse than top competitors
  • No online quotes

Who should use it

You’re planning to switch to universal life coverage in the future and want a company that ranks well for term and permanent policies.

Transamerica Trendsetter Super

Best for a small term life insurance policy

Average term life rate

$490.10

AM Best rating

A (Excellent)

Online quote available

Yes

Best term life insurance companies of January 2024 (7)

4.5/5

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From participating partners

Why we picked it

The Trendsetter Super policy from Transamerica is the only term life option we reviewed that offers a death benefit as small as $25,000. This could make it a great option if you’re looking for minimal coverage for a set number of years.
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However, Transamerica received, on average, more than twice the rate of complaints than expected for its size over the past three years. Its score in J.D. Power’s study for overall customer satisfaction was also below average.

Pros

  • Only insurer in our study to offer a $25,000 minimum death benefit
  • Low average annual term life rates
  • Can apply for coverage if you’re at least 18 years old, up until you’re 80

Cons

  • Very high complaint rate over the past three years
  • Below-average score from J.D. Power for overall customer satisfaction
  • Lower AM Best rating compared to other insurers

Who should use it

You’re looking for a small life insurance policy with only $25,000 of coverage and don’t plan on interacting with your insurer that much.

Symetra SwiftTerm

Best rates for females

Average term life rate

$446.07

AM Best rating

A (Excellent)

Online quote available

Yes

Best term life insurance companies of January 2024 (8)

4.5/5

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From participating partners

Why we picked it

Symetra’s SwiftTerm policy was one of the most affordable options across the board for females. For term policies ranging in death benefits of $250,000 to $2 million and lengths of 10 to 30 years, Symetra’s average rate for 30-year-old females for all profiles was $82 below the group average and around $121 below the average for 40-year-old females.
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You can only get a maximum of $3 million of coverage with Symetra, and if you’re 61 years or older, you’ll have to look for coverage elsewhere.

Pros

  • Lowest average annual term life rates for females
  • Low complaint rate over the past three years

Cons

  • Can’t purchase more than $3 million in coverage
  • Can’t apply for coverage if you’re younger than 20 years old or older than 60
  • Lower AM Best rating compared to other insurers

Who should use it

You’re a female who is 30 or 40 years old and wants affordable coverage from an insurer that’s got a good complaint history.

Our picks at a glance

Average annual rate for 30- and 40-year-olds*AM Best ratingMaximum age to apply for a new policyNo-exam option available

Minnesota Life/Securian Advantage Elite Select Life

$524.49

A+ (Superior)

80

Yes

Nationwide Guaranteed Level Term

$531.61

A+ (Superior)

70

Yes

Banner OPTerm

$480.99

A+ (Superior)

75

Yes

Protective Classic Choice Term

$460.56

A+ (Superior)

75

No

State Farm Level Term

$639.64

A++ (Superior)

75

No

Pacific Life PL Promise Term

$452.93

A+ (Superior)

80

Yes

Transamerica Trendsetter Super

$490.10

A (Excellent)

80

Yes

Symetra SwiftTerm

$446.07

A (Excellent)

60

Yes

*Average annual rates for term life coverage were calculated based on quotes for nonsmoking 30- and 40-year-old females and males in excellent health living in California for the coverage amounts of $250,000, $500,000, $1 million and $2 million and term lengths of 10, 20 and 30 years.

Why do you need term life insurance?

  • To cover your final expenses: The coverage can help your loved ones pay for your funeral service, burial or cremation; estate-related expenses; and medical debt.
  • To get funds for important goals: Your policy’s death benefit can go toward goals such as paying off the mortgage, leaving an inheritance or covering your children’s college.
  • To enjoy flexible coverage: You can pick the term length, benefit amount and policy features based on your family’s needs.
  • To have budget-friendly premiums: Term life coverage is usually a more economical choice than a comparable permanent life insurance policy since it lasts for a set number of years and doesn’t include a cash value component.

What is term life insurance?

Term life insurance is a policy that pays a death benefit to your chosen beneficiaries if you pass away during the coverage period, which usually ranges from one to 30 years. Most often, you’ll have a level term policy with a benefit amount and premium payments that don’t change during the term. However, there are also decreasing and increasing term policies that lower or raise the benefit amount over time, as well as annual renewable term policies that provide coverage for one year at a time.

If you keep up with your premiums and pass away during the term, your beneficiaries will receive the payout, which usually isn’t taxed. If you outlive the policy, your beneficiaries won’t receive any of the death benefit, and you would only get some of your premiums back if you have a return of premium rider. Plus, unlike with permanent life insurance, there is no cash value to utilize during your lifetime.

This temporary life insurance option is often renewable at the end of the term, though your premiums typically rise. Additionally, the insurer may offer a conversion option for switching to a permanent policy, usually within a specific time frame. Although a medical exam can be part of the initial application process, you usually won’t need another one to convert or renew the policy.

What is covered with term life insurance?

While you should check your policy for details, term life insurance coverage applies to most accidental and natural deaths. For example, if you pass away from an illness or a car accident, your beneficiaries should receive the payout. It will also cover if you simply pass away from old age.

Insurers often cover murders and suicides too, but there are rules. Although manslaughter and homicide are common inclusions, the circumstances around the death are important, and the insurer will consider whether beneficiaries were involved. If the insured passes due to suicide, the coverage usually only applies if a waiting period — often two years — has passed.

What’s not covered with term life insurance?

Term life insurance normally has exclusions outlined in the policy’s terms. For example, the insurance company may not provide a payout if you weren’t honest on your application about your health or other details affecting your eligibility. The insurer could question this information for claims made during a contestability period that usually runs up to two years after the policy takes effect.

Examples of other situations that term policies may not cover include:

  • Deaths resulting from substance abuse or illegal activities
  • Murder-related deaths associated with the beneficiaries
  • Suicide-related deaths before the common two-year waiting period ends
  • Deaths resulting from participating in risky activities, such as scuba diving or flying private planes
  • Deaths occurring abroad (in certain situations)

Pros and cons of term life insurance

ProsCons
  • Straightforward coverage
  • Cheaper than permanent policies
  • Flexible terms
  • Policy add-on options
  • No accumulation of cash value
  • No permanent coverage
  • Potential premium increases
  • Lower age limit than permanent policies

Pros explained

  • Straightforward coverage: This life insurance option offers simplicity with a benefit amount payable only over a set term and no cash value to demystify.
  • Cheaper than permanent policies: You’ll usually pay significantly less for term life coverage than permanent options, including whole life or universal life insurance. The lack of cash value also contributes to lower costs.
  • Flexible terms: Whether you want yearly renewable coverage or a 30-year term, there are options to fit your financial goals. If your needs change, it’s also usually straightforward to cancel the term life policy before the term expires.
  • Policy add-on options: Insurers often offer add-ons that pay out money (accelerated death benefit or living benefits rider) or pause premiums (waiver of premium rider) if you face a critical illness or disability. Another add-on (return of premium rider) lets you get back some of your premiums upon the term’s expiration.

Cons explained

  • No accumulation of cash value: Your term life insurance premiums don’t go toward building a cash value that you might access via loans or withdrawals while you’re alive.
  • No permanent coverage: Although you could renew the policy, your coverage otherwise expires after the specified term. If you develop serious health issues, you might also have trouble qualifying for a new policy.
  • Potential premium increases: Your insurer usually charges higher premiums whenever you renew your policy since you are older and more likely to face health issues. Most term life policies will renew on an annual basis after the initial coverage term ends, which means these increases could occur every year. In other words, your premiums aren’t fixed — or level — after the initial policy term.
  • Lower age limit than permanent policies: The cut-off age for applying for a new term life insurance policy is typically around age 80. This compares to an age limit of 85 or even 90 for a new permanent policy.

How much is term life insurance?

How much you pay for term life insurance depends on several factors, including your age, your gender, the amount of coverage and the length of the policy term. The tables below show the average monthly rates for 10-, 20- and 30-year policies with $250,000, $500,000 and $1 million of coverage.

Average cost of 10-year term life insurance

Age of buyerGenderMonthly cost of $250,000 policyMonthly cost of $500,000 policyMonthly cost of $1 million policy
30

Female

$10

$14

$20

Male

$12

$17

$24

40

Female

$19

$28

$39

Male

$21

$30

$44

Average rates are based on nonsmokers in excellent health living in California.

Average cost of 20-year term life insurance

Age of buyerGenderMonthly cost of $250,000 policyMonthly cost of $500,000 policyMonthly cost of $1 million policy
30

Female

$13

$19

$29

Male

$15

$23

$38

40

Female

$21

$32

$51

Male

$24

$38

$64

Average rates are based on nonsmokers in excellent health living in California.

Average cost of 30-year term life insurance

Age of buyerGenderMonthly cost of $250,000 policyMonthly cost of $500,000 policyMonthly cost of $1 million policy
30

Female

$18

$28

$47

Male

$22

$37

$63

40

Female

$34

$53

$88

Male

$38

$67

$115

Average rates are based on nonsmokers in excellent health living in California.

What affects term life insurance rates?

When determining your premiums, the life insurance company considers several factors related to your chosen policy, life expectancy and risk level. You have control over some of these, so you can take steps to get the best term life insurance rates. Common factors influencing your term life premiums include:

  • Coverage amount
  • Term length
  • Optional riders
  • Medical exam requirements (e.g., opting for no-medical-exam policies like simplified issue or guaranteed issue will cost more)
  • Age
  • Gender
  • Nicotine use
  • Current health status
  • Family health background
  • Type of job
  • Hobbies
  • Financial and criminal histories

How to find the best term life insurance for you

When looking for the best term life insurance, first consider how much coverage you need. This includes choosing a policy with a sufficient death benefit after accounting for any existing life insurance coverage (like a group life policy through your employer), financial responsibilities and assets you have. Additionally, think about how long you’ll need the coverage and whether any riders make sense for your situation.

The right term life insurance company will have affordable premiums. Checking rates through several insurers and looking into discounts for making annual payments, opting for certain death benefit amounts and bundling multiple policies together will help. Don’t forget to consider whether the insurer offers a renewal guarantee and a convertibility feature, if you may be interested in permanent life coverage in the future.

Finally, research the life insurance provider’s reputation and stability. The National Association of Insurance Commissioners offers a customer complaint index that rates how many complaints an insurer receives in relation to its size, and you can check the Better Business Bureau for an insurer’s accreditation, rating and customer reviews. Fitch, Standard & Poor’s and AM Best are credit agencies you can check to verify an insurer’s financial strength. This information provides confidence that the company can pay out life insurance claims.

Methodology

To find the best term life insurance companies, we started by examining dozens of leading insurers and then narrowed it down to the top-rated 20 companies and policies.

For each company, we analyzed 12 crucial categories, leveraging financial strength ratings from credit agency AM Best, complaint data from the National Association of Insurance Commissioners (NAIC) and study data from customer-research firm J.D. Power.

Overall, we worked through over 1,600 data points to identify winning companies. The following sections describe the category we scored and the weight we gave that category in our scoring model.

Average term life insurance rates (35%)

We calculated the average annual rate for a term life insurance policy for nonsmoking 30- and 40-year-old females and males in excellent health living in California based on quotes for term lengths of 10, 20 and 30 years and death benefits of $250,000, $500,000, $1 million and $2 million.

J.D. Power score (15%)

J.D. Power scores insurance providers based on five factors that are a key part of the customer experience: communication, interaction, price, product offerings and statements. We include J.D. Power ratings in our scores because they help you gauge what an insurer’s typical customer experience is like.

Online quotes available (10%)

Since applying for life insurance can be complicated, some insurers require you to work directly with an agent throughout the whole process, including for getting an initial quote. Others offer basic quotes online so you can get a feel for pricing upfront. Insurers that offered online quotes received higher scores than those that didn’t.

AM Best (7%)

AM Best is a well-respected independent credit rating agency that evaluates insurance companies’ financial strength. By analyzing insurers’ balance sheets, risk management, operating performance and other factors, AM Best assigns a financial strength rating (FSR) based on the insurers’ abilities to pay out on claims and cover other obligations.

Accelerated death benefit rider (6%)

Accelerated death benefit, or living benefits, riders can help you cover expenses after being diagnosed with a terminal illness by paying a portion of the death benefit to you directly while you’re still living. The companies that offer these types of riders received higher scores than those that don’t.

NAIC 3-year average index (5%)

The National Association of Insurance Commissioners (NAIC) calculates an index for insurance companies based on the company’s share of premiums and complaints filed with the NAIC. An index of 1.00 indicates the insurer received the expected number of complaints for a company of its size. An index below 1.00 means the company received fewer complaints than expected for a company of its size and vice versa. We took the average index for each company from the past three years.

No-medical-exam option available (5%)

Part of the hassle of applying for life insurance involves taking a medical exam so underwriters can properly assess your health and risk and assign a rate accordingly. Some insurers offer no-exam options like simplified issue and guaranteed issue life insurance so you can skip the exam altogether. However, these policies will likely be more expensive. We looked to see which companies offered this option.

Conversion option available (4%)

Many insurance companies allow you to convert a term life policy into a permanent one, like whole life or universal life, without requiring you to undergo underwriting again. Having a convertible policy can be beneficial if your financial needs and goals change. Insurance companies that offer term life conversion received higher scores.

Renewability feature available (4%)

When you reach the end of your policy term, some insurance companies allow you to renew your coverage without having to take a medical exam. Although your premiums will likely be higher after the initial term, this can be a great option if you still need coverage but won’t qualify for a new policy. We looked to see which insurers include a renewability feature in their term life policies.

Minimum and maximum death benefit options (3%)

Most insurers set a minimum death benefit (or face value) you are required to purchase. They also won’t typically provide coverage over a specific threshold. Insurers that had a wider range of death benefit options between the minimum and maximum death benefit amounts received higher scores since this indicates greater flexibility when it comes to choosing a coverage amount appropriate for your needs.

Minimum and maximum issue age (3%)

You usually can’t apply for life insurance if you’re younger or older than the insurance company’s age limits. Companies that had lower minimum issue ages, such as 16 or 18, and higher maximum issue ages, such as 75 or 80, received higher scores.

Term length options (3%)

One benefit of choosing term life insurance is customization: Most insurers offer a handful of term length options, usually ranging from 10 to 40 years, so you can choose the best one for your needs. We looked to see how many term length options were available for each policy, giving higher scores to the ones with more choices.

What didn’t make the cut

Of the 20 life insurance companies and policies we analyzed for our final rankings, 10 did not win a category. Of those 10, six had scores above 4 stars: Midland National’s Premier Term, Lincoln Financial’s TermAccel Level Term, Ameritas’s Value Plus Term, SBLI’s Term Life, Mutual of Omaha’s Term Life Answers and USAA’s Level Term. Though these companies scored well, they didn’t stand out in any particular category to win. The remaining four, American General’s Select-a-Term, Penn Mutual’s Term Life, Ladder’s Term Life and John Hancock’s Protection Term 20, scored below 4 stars.

Frequently asked questions (FAQs)

When you sign up for a term life insurance policy, you can choose your preferred benefit amount and coverage length based on the insurer’s options. You might pick from level, increasing and decreasing term options that affect whether the death benefit and possibly your premiums change over time.

The insurer may also offer a very flexible annual renewable option or include a conversion feature. Plus, you’ll find some coverage options that require no medical exam.

Buying term life insurance during your 20s or 30s can be ideal since you benefit from the cheapest premiums when you’re young. However, you can usually qualify for term life coverage through age 80, depending on the insurer, but life insurance for seniors has the drawback of higher premiums.

You should carefully assess your situation and buy term life coverage when you need the protection. For example, it might be the right time if you have dependents, own major assets or have a lot of debt that your survivors would need to pay off.

If you outlive your term life insurance, you’ll no longer have your coverage or need to pay premiums. Although you won’t get a benefit payout, you could recover some of your premium expenses if you purchased a return of premium rider.

You can consider options such as renewing the expiring policy, converting to a permanent policy (although a specific deadline for doing so typically applies) or getting a new policy if you still need the coverage.

I'm an expert in the field of life insurance, with extensive knowledge of various policy types, companies, and factors that influence the selection of the best coverage. My expertise is backed by a deep understanding of the insurance industry, including key metrics, ratings, and customer satisfaction.

In the article you provided, the focus is on term life insurance, and the following concepts and information are covered:

  1. Term Life Insurance Overview:

    • Term life insurance is highlighted as a suitable option for short-term financial protection.
    • It covers important expenses and financial goals if the insured passes away during the coverage period.
    • Emphasis on the flexibility of term life policies in terms of coverage and duration.
  2. Methodology for Selecting Best Term Life Insurance:

    • The article outlines the methodology used to select the best term life insurance, including analysis of dozens of companies, policies, and 12 essential categories.
    • More than 1,600 data points were analyzed, and a dozen primary data sources were used during research.
  3. List of Best Term Life Insurance Policies:

    • The article provides a list of recommended term life insurance policies, including winners in specific categories.
    • Each policy is accompanied by key details such as average term life rate, AM Best rating, and online quote availability.
  4. Detailed Reviews of Selected Policies:

    • Individual reviews are provided for each selected policy, discussing pros and cons, who should consider the policy, and why it was chosen.
    • Specific details about rates, ratings, and features of each policy are highlighted.
  5. Factors Affecting Term Life Insurance Rates:

    • Various factors influencing term life insurance rates are discussed, including coverage amount, term length, optional riders, medical exam requirements, age, gender, and health status.
  6. Pros and Cons of Term Life Insurance:

    • The article presents the advantages and disadvantages of term life insurance.
    • Pros include straightforward coverage, affordability, flexible terms, and policy add-on options.
    • Cons include no cash value accumulation, lack of permanent coverage, potential premium increases, and lower age limits.
  7. Average Costs of Term Life Insurance:

    • Average monthly rates for 10-, 20-, and 30-year term life insurance policies are provided based on various coverage amounts for both males and females.
  8. Factors Affecting Term Life Insurance Rates:

    • The article discusses the factors that influence term life insurance rates, including coverage amount, term length, optional riders, and personal factors such as age, gender, health, and lifestyle.
  9. How to Find the Best Term Life Insurance:

    • Guidance is provided on finding the best term life insurance, including considerations for coverage needs, premium affordability, renewal guarantees, convertibility features, and researching the insurer's reputation.
  10. Methodology for Ranking Companies:

    • The methodology for ranking companies is outlined, covering factors such as average term life rates, J.D. Power scores, online quote availability, AM Best ratings, and various policy features.
  11. FAQs About Term Life Insurance:

    • Frequently asked questions (FAQs) are addressed, covering topics such as policy types, coverage options, the best time to buy, what happens if you outlive the policy, and options after the policy expires.

Overall, the article serves as a comprehensive guide for individuals seeking information on term life insurance, offering detailed insights into policy options, factors affecting rates, and the methodology used to evaluate and recommend the best choices.

Best term life insurance companies of January 2024 (2024)

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