10 Best Life Insurance Companies of 2026

Ladder ranks first for families because it pairs the lowest published starting price we found with a fully online application. Its homepage lists prices from $5 a month for a 20-year-old rated Preferred-Plus on a $100,000, 10-year policy, with the rate dated 4/7/26. Terms run from 10 to 30 years, and applications for $3 million or less need only health questions, with no doctors or needles; above $3 million Ladder may ask for a free at-home health check. The feature that suits families best is adjustable coverage: as you pay down a mortgage or your children grow up, you can lower the amount instead of keeping cover you no longer need, although Ladder says not all prices fall in proportion. If you change your mind, you can cancel in the first 30 days for a full refund, and later without cancellation fees. Ladder sells term cover only, so families who want lifelong cover or cash value need a different insurer.

Banner Life, part of Legal & General America, is the most flexible term insurer on this list. It sells 10, 15, 20, 25, 30, 35 and 40 year terms, and says it is one of the few carriers to offer up to 40 years. Coverage begins at $100,000 and extends beyond $10 million, for applicants aged 20 to 75, and the company advertises policies for as little as $8 a month. Families can tailor a policy with riders: a Children's Life Insurance Rider covers children until they are 25, an accelerated death benefit rider is offered, and term riders let you stack cover. Banner's own example is a $250,000, 40-year base policy with a $750,000, 20-year rider, so cover drops once the mortgage is paid without buying a second policy. The company says it pays over $1 billion in yearly claims to over 3,700 families and businesses. Banner Life does not do business in New York, and Lemonade's term life product is issued by Banner Life.

Northwestern Mutual is the pick for families who expect their needs to grow from pure protection into lifelong cover. Its term page gives an approximate cost: a $500,000 policy to age 80 for a 35-year-old woman initially costs about 69 cents a day, and about 84 cents a day for a man, or roughly $21 and $26 a month. Term to Age 80 is its longest option. A term policyowner can convert some or all of the cover into whole life, which builds tax-deferred cash value and can earn dividends; the company says it has paid them every year since 1872, though they are not guaranteed. A waiver of premium rider lets you stop paying premiums after a qualifying disability while keeping the full death benefit. Northwestern Mutual reports A++ from A.M. Best, Aa1 from Moody's, AA+ from S&P and AAA from Fitch, the highest available ratings. The trade-off is that its sample price is an initial premium and is higher than the online term sellers above.

State Farm suits families who would rather buy cover from an agent they can meet. Its Select Term Life comes in 10, 20 or 30 year terms with a guaranteed benefit, and it can be kept after the initial term at an increased cost up to age 95. State Farm publishes sample rates for $250,000 of cover: $15.02 a month for 10 years, $15.22 for 20 years and $19.14 for 30 years, all for a 25-year-old woman in excellent health in Illinois. The small gap between the 10 and 30 year samples makes the longer term worth pricing for parents of young children. Return of Premium Term, sold in 20 and 30 year terms, pays your premiums back if the death benefit is not paid within the term. For small needs, Instant Answers offers $50,000 of term cover up to age 50 or for 10 years, whichever is longer, with in-office approval in minutes and no medical tests. The limits are the three term lengths and the single sample profile.

Ethos is built for parents who want the application over with in one sitting. It asks a few health questions online, with no medical exam, and its underwriting engine gives most people an instant decision, so cover can start in as little as 10 minutes. Term policies run from 10 to 40 years with up to $3 million in coverage, and Ethos also sells Guaranteed Acceptance Whole Life, with no health questions, and Indexed Universal Life; it points applicants over 69 to the guaranteed acceptance product. Every policy includes a 30-day free look with a full refund, and Ethos says applying never touches your credit score. It also advertises a will and trust for the policyholder and spouse, which it values at $898. Ethos is licensed in 49 states plus D.C., with New York the exception. Its homepage says plans start from $30 per month, a higher published floor than Ladder, Banner Life or Fabric, which is why it ranks fifth on value.

Prudential covers the widest range of family needs on this list, from a small no-exam policy to very large estates. Its life insurance page offers term with no medical exam, up to $1 million in coverage, starting at $10 a month; the quote for that product transfers to Prudential's partner SelectQuote. SimplyTerm is described as going from quote to covered in minutes with a few health questions. Through a financial professional, Prudential sells term cover from $100,000 to $65 million for terms of 10 to 30 years, and another term product covers $25,000 to $1 million for 5 to 20 years. Conversion rules differ by product: one lets you convert during the first 7 years or to age 70 and receive a conversion credit of up to a full year of premium in years 2 to 7. Term policies are issued by Pruco Life Insurance Company or Pruco Life Insurance Company of New Jersey. After the level period, premiums rise annually through age 95, capped at the contract maximum.

Fabric, sold by Gerber Life Agency, is a simple online term product aimed at parents. Its term page lists terms of 10 to 30 years and coverage from $100,000 to $5 million, with prices from $7.85 a month for a 25-year-old woman with $100,000 in coverage. Fabric says its digital application can take as little as 10 minutes, and a licensed team can help if you get stuck. The price is promised never to change as long as premiums are paid, regardless of the economy. You get a 30-day money back guarantee and can cancel at any time, with Fabric stating there are no hidden fees. The site also offers wills, which suits new parents naming a guardian. The limits are a term-only lineup that stops at 30 years and less detail on riders than the larger insurers above, so families who want riders for children or disability should compare Banner Life or Northwestern Mutual.

New York Life is a fit for families who want an advisor to build a plan that mixes term and permanent cover. Its level term life locks in premiums for 10, 15 or 20 years, and rates typically increase if you renew after the term. Convertible term options let you switch to a permanent policy later. Two riders stand out for families: if you die, your spouse can use the payout to buy their own paid-up life insurance without a medical exam, which New York Life describes as a unique option, and if you are terminally ill you can take part of the death benefit early. Its permanent lineup includes whole life with a guaranteed death benefit and guaranteed cash value, plus permanent policies whose cash value can be invested in the market. Dividends are not guaranteed, and not all participating owners are eligible. New York Life publishes no prices on its term page, and you buy through a financial professional, so it scores lower on experience and value here.

Guardian Life is built around conversion. All of its level term policies are convertible for the first five years, and the optional Extended Conversion Rider extends that to the full policy, so a parent can switch to permanent whole life later without a new medical exam, based on the health rating they had when they bought. Level term usually runs 10, 15 or 20 years, and Guardian also sells annual renewable term, which can be renewed each year without a medical exam at a higher cost each year. Its term page includes a coverage guide for families, such as adding $100,000 to $150,000 per child for college. Guardian reports $86.8 billion in admitted assets and $9.3 billion in surplus as of December 31, 2024, on a statutory basis. Many employers offer Guardian group life too. Guardian publishes no prices on the term page, and riders may cost extra, so it ranks below insurers with published rates.

Mutual of Omaha sells two term products, Term Life Express and Term Life Answers, each in 10, 15, 20 and 30 year versions according to the policy form list on its term page. The company describes its term cover as replacing lost income, with payments that never increase for the length of the term, and it points the product at people just entering their prime earning years and families who need cover until children are grown. There is an option to convert to a permanent plan, and a Motor Vehicle Accidental Death Rider is offered except in Georgia and New York. Its Customer Access portal lets you pay bills, update information and review policies online. Mutual of Omaha lists the factors that set the price, including age at issue, gender, term, health and tobacco use, but publishes no rates on the page, and it describes fewer plan details than the insurers above, which is why it ranks last here.