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Best term life insurance for 2025
Choosing a life insurance policy doesn’t have to be complicated. If you’re looking for a simple, affordable way to protect your family, term life insurance could be a solid choice. It covers a set period — typically 10, 20 or 30 years — helping to provide financial security when it’s needed most, like during mortgage payments or while raising kids. Since it’s usually more budget-friendly than permanent life insurance, term coverage can work well for families who want reliable protection without a lifelong cost commitment. To help you decide which option best fits your needs, we’ll break down the top policies to help you make a confident, informed choice.
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Whole life insurance combines life insurance with an investment component.
- Coverage for life
- Tax-deferred savings benefit if premiums are paid
- 3 variations of permanent insurance: whole life, universal life and variable life include investment component
Term life insurance is precisely what the name implies: an insurance policy that is good for a specific term of time.
- Fixed premium over term
- No savings benefits
- Outliving policy or policy cancellation results in no money back
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Best term life insurance companies
The best term life insurance companies depend on an individual’s needs and preferences. While your quoted premium will typically not vary as much as for life quotes as home or auto insurance, different companies do offer different coverage types and levels. We chose the following companies based on their third-party financial strength and J.D. Power customer satisfaction scores, as well as the policy options and available coverage capacities (the maximum dollar amount a policy can be). It may be helpful to start your research with the following providers:
| Company | Bankrate Score | J.D. Power score | AM Best | S&P |
|---|---|---|---|---|
| Guardian Life | 3.4 | 685/1,000 | A++ (Superior) | AA+ |
| Lincoln Financial Group | 4.3 | 652/1,000 | A (Excellent) | A+ |
| Pacific Life | 4.4 | 657/1,000 | A+ (Superior) | AA- |
| State Farm | 4.9 | 699/1,000 | A++ (Superior) | AA |
| Symetra | 4.1 | Not scored | A (Excellent) | A |
3.4
-
Why Guardian made our list: Guardian stands out for its flexible term lengths and variety of riders, which could make it a strong contender for those looking to personalize their life insurance coverage. With an A++ financial strength rating from AM Best, Guardian has the backing to pay out claims reliably. While the company doesn’t have its own network of agents, it connects customers with financial professionals who can guide them through the buying process.
BEST NO-EXAM INSURER (TIE)
4.3
-
Why Lincoln Financial Group made our list: Lincoln Financial Group provides flexible term life insurance options with high coverage limits and a potential no-exam application process for qualifying applicants. The company focuses on financial planning, which may appeal to those looking to integrate life insurance into a broader wealth strategy. While whole life insurance isn’t available, Lincoln offers term and universal policies with various customization options. The 2025 Bankrate Award for Best No-Exam Life Insurer (tie) highlights its position among companies streamlining the life insurance process.
BEST UNIVERSAL LIFE INSURER
4.4
-
Why Pacific Life made our list: Pacific Life offers high coverage term life insurance options along with a variety of riders to customize policies. With two term products — Promise Term and Elite Term — coverage can start as low as $50,000 or go beyond $3 million. These policies are also convertible to permanent life insurance, giving policyholders future flexibility. Pacific Life ranked above average in J.D. Power’s 2024 U.S. Individual Life Insurance Study and maintains a strong financial rating of A+ (Superior) from AM Best, indicating financial stability.
BEST TERM LIFE INSURER
4.9
-
Why State Farm made our list: State Farm has earned the 2025 Bankrate Award for Best Term Life Insurer for the fourth consecutive year, backed by strong financial ratings and top customer satisfaction scores. With several term life options, including Instant Answer Term for quick coverage approval, policyholders have flexibility in choosing coverage lengths. State Farm’s Return of Premium term policy also offers a rare benefit — refunds on premiums if the policyholder outlives the term. While its digital tools help simplify the process, policyholders can also work with a nationwide network of agents to get personalized guidance.
BEST NO-EXAM INSURER (TIE)
4.1
-
Why Symetra made our list: Symetra’s SwiftTerm policy offers one of the fastest application processes in the industry, providing no-exam coverage in as little as 18 minutes for qualified applicants. Additionally, Symetra’s coverage limits of up to $5 million make it a noteworthy option for those seeking substantial protection without a lengthy approval process. However, those interested in applying will need to work with a financial professional, as Symetra does not offer direct online applications. Symetra was also named a 2025 Bankrate Award winner for Best No-Exam Life Insurer (tie).
Term life insurance without a medical exam
Many insurers now offer term life insurance with accelerated underwriting, allowing eligible applicants to obtain coverage without undergoing a medical exam. This process uses data from your application, health records and other sources to assess risk quickly, making it easier and faster to get insured.
Even if insurers do not explicitly advertise these no-exam options, it's becoming increasingly common for them to implement such processes. It's worth asking your insurer if no-exam options are available, as many companies may offer them even if they aren't prominently featured.
For those specifically seeking no-exam term life insurance, companies like Ladder, Ethos, Lincoln Financial and Symetra primarily offer policies that do not require a medical exam. These providers streamline the application process, often allowing you to get covered in a matter of minutes if eligible.
How to find the best term life insurance company for you
There are several factors to consider when shopping for a quality term life insurance policy. Since your life insurance will ultimately be responsible for providing the coverage you want for your family, these considerations may be beneficial to keep in mind when determining which provider is right for you. In addition to policy types, you could consider the following.
Consider customer satisfaction scores and financial strength ratings
Customer satisfaction scores may provide insight for consumers looking to purchase insurance products. These scores reflect how satisfied existing customers may be with the customer service and claims process. You might use these scores to get an idea of how your customer experience could be and which carrier might best fit your expectations.
A life insurance company’s financial strength score reflects its past ability to pay out claims and could help you decide if a company is financially sound. Third-party agencies such as AM Best, Fitch, Moody’s and S&P publish financial strength ratings for each major provider.
Consider your personal situation
When sorting through the top term life insurance companies, it's important to consider your specific needs and circumstances. Term life insurance provides coverage for a set number of years, making it a suitable option for temporary needs like covering debts or providing for your children while they are young. However, it might not be the best choice if you require lifelong coverage.
Many term policies offer options for renewability or conversion, allowing you to extend your coverage or convert it to a permanent policy without undergoing a new medical exam. This can be a valuable feature if your needs change over time.
If you are looking for coverage beyond a set term, such as for final expenses or to support a lifelong dependent, permanent life insurance might be more appropriate. Here are a few options to consider:
- Whole life insurance: Whole life offers level premiums and a guaranteed death benefit that can last your lifetime — maximum coverage age ranges from 95 to 121. It also builds cash value over time, which you may be able to access through withdrawals or loans.
- Universal life insurance: Similar to whole life, universal life offers permanent coverage with more flexibility. You can increase or decrease premium payments or the death benefit if life circumstances change.
- Final expense life insurance: If you only need a small amount of coverage or have serious health issues, final expense life insurance may be your best option. It works like whole life, but doesn’t require a medical exam. Some policies are guaranteed issue, meaning there is no medical exam or health questions on the application.
Compare multiple quotes
Term life insurance quotes can vary significantly between insurers, depending on your individual risk factors. Comparing quotes is beneficial, as it can potentially save you a substantial amount of money, particularly if you have a pre-existing condition since insurers can evaluate and price various health risks differently.
Additionally, consider bundling life insurance with your home or auto policies. While this won't reduce your life insurance premium, many insurers offer multi-policy discounts. These discounts are often applied to your home and auto policies, which can lower your overall insurance expenses.
Frequently asked questions
