Nationwide rises above competitors on a multitude of fronts. It has one of the widest product selections Investopedia saw among the 45 companies we surveyed. Ditto that for riders—only Ameritas and Brighthouse Financial offer as many. Nationwide’s riders include three free living benefits that let you 澳洲幸运5♍官方开奖结果体彩网:use your death benefit while you’re alive if you develop a cꦦhro🀅nic, critical or terminal illness. 

Customers generally like the company, lodging few complaints with state regulators and pushing it to No. 4 out of 22 companies in the 2024 J.D. Power U.S. Individual Life Insurance Study. 

There are only a few things we found to not like. It doesn’t pay dividends on its whole life policꦅies, so if you want that, you’d be better off looking for a mutual company such as Lafayette or MassMutual. And you can’t buy a term life insurance policy from Nationwide if you’re over 70.

F⭕ounded in 1925,ꦯ Nationwide is based in Columbus, Ohio.

Available Policy Types 

• Term life
• Whole life
• Children’s whole life
• Universal life
• Indexed universal life
• Variable universal life
• No-medical-exam life (term)
• Final expense 

Available Riders

• Term conversion
• Child term
• Guaranteed insurability rider
• Waiver of premium
• Accidental death benefit
• Terminal illness
• Long-term care
• Chronic illness
• Critical illness

Many people choose term life insurance bec♛ause the premiums are more affordable than permanent life insurance. That’s especially true of policies you get from Banner by Legal & General. Its premiums are some of the most competitive we found when ga♉thering quotes for 45 life insurance providers. It’s also the only company besides Protective Life that offers 40-year term policies, which means they could last your entire working life. Most companies limit you to 30 years at most for term coverage. 

Lik🔯e Nationwide, Banner has a low incidence of consumer complaints and an impressive financial 🌼stability rating from AM Best.

But Banner’s selection of other products is disappointing. Universal life is the only other type of life insurance it sells, though that won’t matter much if you’re set on buying term insurance. The other factor t꧃o consider is that you won’t find many riders with which to customize your coverage. 

Banner is based in Frederick, Maryland, and owned by Le🥃gal & General, which has been in business since 18💜36.

Available Policy Types

• Term life
• Universal life
• No-medical-exam life 

Available Riders

• Term conversion
• Child term
• Waiver of premium
• Terminal illness

Investopedia found Protective’s child term rider distinctive because it covers your children until they turn 25, and it’s transferable and convertible to a permanent policy such as whole life or univer🍒sal life when they become adult🍸s. 

However, child coverage is limited to this rider. Protective Life﷽ does not sell a standalone child’s whole life policy. 

Beyond child coverage, Protective has a fine selection of policies and riders for adults. These include term policies for as long as 40 years and whole life policies with death benefits ranging from $1,000 to as high as y🐟ou can qualify for. There is no ma♌ximum coverage limit. 

Protective Life has been around since 1907 an🦩d has its headquarters in Birmingham, Alabama.

Available Policy Types

• Term life
• Whole life
• Universal life
• Index universal life
• Variable universal life

Available Riders

• Term conversion
• Child term
• Guaranteed insurability rider
• Waiver of premium
• Accidental death benefit
• Terminal illness
• Chronic illness

For term life insurance at an affordable price, it’s hard to beat SBLI. It provided some of the lowest premiums Investopedia found when gathering quotes from 45 companies. You can get an individualized quote for yourself, apply for a term policy, and chat with a live representative all through the  website. Customers seem happy wi✅th SBLI, lodging relatively few complaints with state regulators compared to the company’s size.

These qualities make SBLI great for cheap term insurance, but it’s not the best for permanent life insurance. SBLI📖 doesn’t offer universal or variable universal life insurance and the dividend rate for its whole life insurance is low. Investopedia found the company’s rider selection on the skim꧋py side too. 

SBLI’s headquarter꧙s is in Woburn, Massachusetts and it was founded in 1907. 

Available Policy Types

• Term life
• Whole life
• Children’s whole life
• No-medical exam life (term and whole life)
• Final expense 

Available Riders

• Term conversion
• Child term
• Guaranteed insurability rider
• Waiver of premium
• Accidental death benefit
• Terminal illness

Pacific Life is﷽ one of the few companies that sells universal life, indexed universal (IUL), and variable universal life insurance (VUL). Nationwide, Prudential, and John Hancock do as well, but they don’t offer as many different policy options for each type. In some markets, Pacific Life features two UL, four IUL, and five VUL products. 

But thes꧑e products are complex and Pacific Life doesn’t let you apply online. You’ll have t🌱o talk with an agent by phone or in person. And the company does not sell whole life insurance.

Based in Newport Beach, California, Paci🌟fic Life was founded in 1868.

Available Policy Types

• Term life
• Universal life
• Index universal life
• Variable universal life
• No-medical exam life 

Available Riders

• Term conversion
• Child term
• Waiver of premium
• Disability income
• Terminal illness
• Long-term care
• Chronic illness

With se✱ven different whole life policies, Lafayette Life offers options to suit a variety 🌼of needs. There’s no limit on how large the death benefit can be, and we like that Lafayette has a lot of free riders, including those that let you use your coverage while you’re alive if you get a serious illness. 

On the downside, Lafay♒ette’s dividend rate is lower than that of competitors such as MassMutual and Guardian Life. You’💦ll also need to call the company or meet an agent in person to apply; there’s no online application. 

Fou𝔍nded in 1905, Lafayette Life is he🍬adquartered in Cincinnati, Ohio. 

Available Policy Types

• Term life
• Whole life
• Children’s whole life
• No-medical-exam life (whole life)
• Final expense

Available Riders

• Term conversion
• Child term
• Guaranteed insurability rider
• Waiver of premium
• Accidental death benefit
• Terminal illness
• Chronic illness
• Critical illness

MassMutual scored slightly lo൲wer than Lafayette for our best whole life insurance list, but it was a close call. MassMutual beats Lafayette on a couple of fronts. Its dividend rate is the highest of all insurers on this list at 6.10%, and it offers whole life policies to people up to age 90. Only Thrivent and Guardian Life have age limits that are that high. 

On the downside, y༺ou have to talk to an agent and take a medical exam to buy a MassMutual policy, and there are no same-day decisions. 

MassMutual has called💧 Springfield, Massachusetts, home since its 🌸founding in 1851. 

Available Policy Types

• Term life
• Whole life
• Children’s whole life
• Universal life
• Variable universal life

Available Riders

• Term conversion
• Spouse rider
• Guaranteed insurability rider
• Waiver of premium
• Disability income
• Terminal illness
• Chronic illness

Penn Mutual’s𓂃 cap on no-medical-exam coverage is double that of the next-highest limit we saw ($5 million from Nationwide or Symetra) and many orders of magnitude higher than competitors whose caps run as low as $25,000. 

Whole life policyholders enjoy dividends, and at 5.75%, Penn Mutual’s dividend interest rate is among the highest of the companies Investopedia researched. Dividends are never guaranteed, but the company has paid them for 175 straight years, with a record $200 million of dividends paid in 2024. 

Customers made few complaints to state regulators about Penn Mutual, according to the National Association of Insur🅺ance Commissioners (🌌NAIC) Complaint Index.  

Our main issue with Penn Mutual is that if you’re looking for a small no-exam 澳洲幸运5官方开奖结果体彩网:final expense policy, you’ll have to look elsewhere. Penn Mutual doesn’t offer these types of policies. It also lacks online quotes and application features that many competitors ha🌟ve. ꦕ;

Available Policy Types

• Term life
• Whole life
• Children's whole life
• Universal life
• Indexed universal life
• Variable universal life
• No-medical-exam life

Available Riders

• Spouse rider
• Guaranteed insurability rider
• Accidental death benefit
• Terminal illness rider
• Chronic illness rider
• Children's term rider
• Waiver of premium rider

Symetra is another great choice for no-medical-exam insurance, along w🔴ith Penn Mutual. Its coverage limit is half as big as Penn Mutual’s but at $5 million, that’s still ample for many people. You must still qualify based on age, income, and medical records. But you can apply online, and Symetra can make coverage decisions in minutes.

Beyond no-exam term life insurance, Symetra’s product lineup is patchy. The♍ company doesn’t sell whole life, final expense, or universal life insurance, though it does offer three indexed universal life policies and one variable u⭕niversal policy. It has a few riders, but not nearly as many as a powerhouse like Nationwide. 

Symetra wa⭕s founded in 1957 and is based in༒ Bellevue, Wash.

Available Policy Types

• Term life
• Index universal life
• Variable universal life
• No-medical exam life (term)

Available Riders

• Term conversion
• Child term
• Waiver of premium
• Accidental death benefit
• Terminal illness

Founded in 1902 and based in Minneapolis, Thrivent has the highest financial strength rating there is: A++. That means you can rest assured that the company will be able to pay its claims many years down the road. Thrivent’s wide range of life insurance products includes term, whole life, and universal. And if you’re like many of Thrivent’s other customers, you’ll find little to complain about once you get a policy. 

Howeve🅺r, applying is less straightforward than with other competitors. There’s no online application, so you’ll have to pick up the phone and meet or speak with an agent to apply. And you’ll need to be a Christian to buy a policy—or at least attest that you are. 

We’re also not i🌠mpressed with Thrivent’s limited set of riders, especially the lack of 𓆏a child term rider.

Available Policy Types

• Term life
• Whole life
• Children’s whole life
• Universal life
• Variable universal life
• No-medical-exam life (term)

Available Riders

• Term conversion
• Guaranteed insurability rider
• Waiver of premium
• Terminal illness