The 7 Best Life Insurance Plans in the US: A Complete Guide to Choosing the Right One
Getting life insurance can be one of the most important decisions you make to protect your loved ones. But with so many options on the US market, which one should you choose?
Advertising
If you live in the United States, this simple and practical guide will show you the 7 top life insurance plans currently available. We’ll compare coverage, benefits, plan types, and why each might (or might not) be the best for you.
Why Is Life Insurance So Important?
Advertising
Life insurance isn’t just about death. It’s about ensuring financial stability for those who depend on you. With it, you can:
- Prevent your family from facing unexpected debts and expenses
- Secure income for your spouse or children after you’re gone
- Cover medical, funeral, and even education costs
Advertising
Statistic: According to LIMRA (Life Insurance and Market Research Association), 52% of Americans have some form of life insurance. However, over half believe they are underinsured.
Main Types of Life Insurance in the US
Before choosing the best provider, it’s important to understand the two main types of life insurance:
1. Term Life Insurance
Covers you for a specific term — usually 10, 20, or 30 years. It’s more affordable and ideal for people looking for basic protection at a low monthly cost.
2. Permanent Life Insurance (Whole Life / Universal Life)
Covers you for life and builds cash value over time. It tends to be more expensive but offers long-term security and financial benefits.
The 7 Best Life Insurance Companies in the US (2025)
Here’s our selection of the top life insurance providers in the US, based on reputation, value for money, ease of enrollment, and customer satisfaction.
1. Northwestern Mutual
- Types: Whole Life and Term Life
- Highlights: Outstanding customer service and financial strength
- Strengths: Highly customizable, strong dividends for permanent policies
Best for: Those looking for long-term, reliable protection with investment value.
2. Haven Life
- Types: Term Life
- Highlights: 100% online process, no brokers required
- Strengths: Competitive pricing, fast and easy application
Best for: Young adults and families who value convenience and speed.
3. New York Life
- Types: Term, Whole, and Universal Life
- Highlights: One of the oldest and most trusted insurers
- Strengths: Personalized plans, excellent financial advisors
Best for: People seeking lifetime planning and legacy building.
4. State Farm
- Types: Term and Whole Life
- Highlights: Strong local presence and trusted brand
- Strengths: In-person support, affordable premiums
Best for: Anyone who prefers dealing with a local agent face-to-face.
5. MassMutual
- Types: Whole and Universal Life
- Highlights: Excellent financial stability
- Strengths: Competitive dividends and rider options
Best for: Investors and families focused on wealth accumulation and legacy.
6. Prudential
- Types: Term, Universal, and Indexed Universal Life
- Highlights: Flexible policies and benefits for critical illness
- Strengths: Options for people with specific medical conditions
Best for: Those needing customizable coverage based on health history.
7. Ethos
- Types: Mostly Term Life
- Highlights: Tech-driven, fast approvals
- Strengths: No medical exams, quotes in minutes
Best for: People who want fast, no-hassle coverage online.
How to Choose the Right Life Insurance for You
Now that you know the top insurers, here are practical tips to help you make the best decision:
- Set your goals: Are you protecting your family, saving for emergencies, or building wealth?
- Calculate your coverage needs: Consider debt, monthly expenses, and future goals.
- Pick the right type: Term Life is cheaper and simple. Whole Life is lifelong and builds value.
- Compare quotes: Use online tools like Policygenius, SelectQuote, and Ladder.
- Talk to an expert: A licensed agent can help tailor a plan to your situation.
How Much Does Life Insurance Cost in the US?
It depends on age, health, coverage amount, and type. Here are a few averages:
| Profile | Term Life (20-Year) | Whole Life |
|---|---|---|
| Male, 30, healthy | $25/month ($500,000 coverage) | $200/month |
| Female, 40, healthy | $35/month ($500,000 coverage) | $250/month |
| Male, 50, with hypertension | $80/month | $350/month |
Tip: The earlier you buy life insurance, the cheaper it usually is.
What Happens If You Outlive a Term Life Policy?
Many people worry about what happens when a term life insurance policy expires — especially if they’ve never had to use it. Here’s what you need to know:
- No payout: If you outlive your policy, your beneficiaries won’t receive a death benefit.
- Option to renew: Some insurers allow you to renew or convert your policy to a permanent one without a medical exam — but premiums usually go up.
- New policy considerations: If you’re older or have new health issues, getting a new policy might be more expensive.
Pro tip: If you’re in your 20s or 30s, choose a term that covers your family until your kids are independent or your mortgage is paid off.
Can Life Insurance Be Used While You’re Still Alive?
Yes! This is one of the least-known but most valuable features of certain types of life insurance.
Here’s how you can use it while you’re alive:
- Cash value withdrawal: Permanent policies build cash over time. You can borrow against it or withdraw it for emergencies or retirement.
- Living benefits: Some policies include riders for chronic or terminal illnesses that let you access part of your death benefit early.
- Policy loans: Borrow money from your policy (tax-free) and pay it back on your own schedule.
Example: If you have a whole life policy with $40,000 in cash value, you might be able to use part of it to cover unexpected medical bills.
How to Get Life Insurance Without a Medical Exam
Think life insurance always requires blood tests and doctor visits? Not anymore.
Here are options that offer no-medical-exam coverage:
- Simplified issue life insurance: Just answer a few health questions online. No exams needed.
- Guaranteed issue: No health questions at all, but higher premiums and lower coverage limits.
- Online-first insurers: Companies like Ethos and Haven Life use algorithms to approve you quickly without a visit.
Best for: People who want fast approval, have minor health concerns, or just don’t want the hassle of going to a doctor.
Start Protecting Your Loved Ones Today
Choosing the right life insurance is an act of love and responsibility. Don’t wait for a crisis to take action.
In the US, there are excellent and affordable options for every need and budget. The key is to choose wisely, based on your life stage and the benefits each plan offers.
