Legal & General is the best overall term life insurance company, with high scores for affordability, customer experience and coverage options. If budget is your main concern, consider Lincoln Financial, which has the cheapest rates. MoneyGeek also identified leaders for specific age groups and profiles: Pacific Life for adults in their 20s and 30s, Protective Insurance for seniors, and North American for smokers.
Best Term Life Insurance in 2025
Legal & General, Pacific Life, and Protective Insurance are the best term life insurance companies today.
Find out if you're overpaying for life insurance below.
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Updated: October 22, 2025
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Key Takeaways
Legal & General, Pacific Life, and Protective Insurance offer the best term life insurance policies. Other options may be more suitable for you depending on your specific needs.
Term life insurance offers affordable, time-limited coverage, making it ideal for protecting income, paying off debt or securing your family's future.
Premiums and eligibility depend on your age, health and preferred coverage length. Most policies range from 10 to 30 years with fixed monthly payments.
Why You Can Trust MoneyGeek
We analyzed 1,488 life insurance quotes from 29 insurance companies covering ages 18 to 70 for smokers, non-smokers, men, and women at various heights, weights, and health levels across a range of term limits and coverage levels. Licensed insurance expert and industry analyst Mark Fitzpatrick has reviewed our methodology, which focuses on affordability, customer experience, and coverage options. MoneyGeek maintains editorial independence and doesn't receive compensation from insurance companies for life insurance rankings or recommendations. For more information, read our full methodology.
Compare the Best Term Life Insurance Companies
Best For | Company | Avg Monthly Rate | Ages Supported | MoneyGeek Score |
|---|---|---|---|---|
Legal & General | $38 (Female), $47 (Male) | 20-75 | 4.7 | |
Pacific Life | $39 (Female), $47 (Male) | 18-75 | 4.7 | |
Protective Insurance | $36 (Female), $44 (Male) | 20-80 | 4.7 | |
Guardian Life | $40 (Female), $51 (Male) | 18-75 | 4.6 | |
Gerber Life | $46 (Female), $52 (Male) | 18-70 | 4.5 | |
North American | $35 (Female), $43 (Male) | 18-60 | 4.5 | |
Nationwide | $45 (Female), $56 (Male) | 18-55 | 4.5 | |
Lincoln Financial | $31 (Female), $38 (Male) | 18-80 | 4.5 |
* Rates shown are estimates of the companies MoneyGeek surveyed based on a 40-year old with average weight and height, non-smoker, average health, 20-year term, and $500,000 coverage. Actual rates may vary by state, health profile, and insurer underwriting. Contact insurers directly for personalized quotes.
Best Term Life Insurance Overall: Legal & General
Legal & General
MoneyGeek Rating
4.7/ 5
4.7/5Affordability
4.7/5Customer Experience
4.7/5Coverage Options
Avg. Monthly Rate
$38 (Female), $47 (Male)Ages Supported
20-75
Best Term for Young Adults: Pacific Life
Pacific Life
MoneyGeek Rating
4.7/ 5
4.7/5Affordability
4.6/5Customer Experience
4.9/5Coverage Options
Avg. Monthly Rate
$39 (Female), $47 (Male)Ages Supported
18-75
Best Term Life for Seniors: Protective Insurance
Protective
MoneyGeek Rating
4.7/ 5
4.8/5Affordability
4.6/5Customer Experience
4.3/5Coverage Options
Avg. Monthly Rate
$36 (Female), $44 (Male)Ages Supported
20-80
Best Customer Experience for Term Life: Guardian Life
Guardian Life
MoneyGeek Rating
4.6/ 5
4.6/5Affordability
4.9/5Customer Experience
4/5Coverage Options
Avg. Monthly Rate
$40 (Female), $51 (Male)Ages Supported
18-75
Best for No Medical Exam Term Life: Gerber Life
Gerber
MoneyGeek Rating
4.5/ 5
4.5/5Affordability
4.9/5Customer Experience
4/5Coverage Options
Avg. Monthly Rate
$46 (Female), $52 (Male)Ages Supported
18-70
Best Term Life for Smokers: North American
North American
MoneyGeek Rating
4.5/ 5
4.8/5Affordability
4.6/5Customer Experience
3.3/5Coverage Options
Avg. Monthly Rate
$35 (Female), $43 (Male)Ages Supported
18-60
Best for Multi-product Bundling: Nationwide
Nationwide
MoneyGeek Rating
4.5/ 5
4.4/5Affordability
4.9/5Customer Experience
4.3/5Coverage Options
Avg. Monthly Rate
$45 (Female), $56 (Male)Ages Supported
18-55
Best Term Life Rates: Lincoln Financial
Lincoln Financial
MoneyGeek Rating
4.5/ 5
5/5Affordability
3.6/5Customer Experience
4.5/5Coverage Options
Avg. Monthly Rate
$31 (Female), $38 (Male)Ages Supported
18-80
What Is Term Life Insurance?
Term life insurance provides coverage for a specified period or "term." You pay fixed premiums throughout the term. If you die during that period, the insurance company pays a death benefit to your beneficiaries.
Term life insurance policies usually range from 10 to 30 years based on your needs. When terms expire, you can renew at higher premiums or convert to permanent life insurance for lifetime coverage.
How Much Does Term Life Insurance Cost?
Explore these tables to quickly estimate your term life insurance cost. These rates are based on nonsmokers with average height, weight, and health at $500,000 coverage. Insurance providers offer shorter terms for older applicants, so some fields show no data. Your actual rates may vary based on health, lifestyle, and other factors. Rates are also subject to underwriting approval.
Average Term Life Insurance Rates for Females
10 years | $18 | $20 | $31 | $65 | $174 | $479 |
15 years | $22 | $24 | $38 | $80 | $204 | $442 |
20 years | $27 | $29 | $46 | $95 | $250 | - |
25 years | $43 | $44 | $69 | $156 | - | - |
30 years | $46 | $50 | $79 | $165 | - | - |
35 years | $74 | $76 | $121 | - | - | - |
40 years | $110 | $115 | $183 | - | - | - |
Average Term Life Insurance Rates for Males
10 years | $23 | $24 | $37 | $87 | $247 | $667 |
15 years | $28 | $30 | $46 | $107 | $290 | $633 |
20 years | $34 | $36 | $55 | $128 | $354 | - |
25 years | $55 | $55 | $85 | $212 | - | - |
30 years | $58 | $61 | $94 | $221 | - | - |
35 years | $94 | $97 | $154 | - | - | - |
40 years | $141 | $147 | $233 | - | - | - |
How to Choose the Best Term Life Insurance Policy
Here’s what matters most when selecting the right policy for your needs:
- 1Coverage Amount
It’s important to first determine how much life insurance coverage you need. Calculate how much your family would need to cover immediate expenses and long-term financial obligations if you died tomorrow. A common rule of thumb is 10-12 times your annual income, but consider your mortgage balance, children's education costs, and your spouse's earning potential.
If you earn $75,000 annually with a $300,000 mortgage and two young children, for example, you might need $750,000 to $1 million in coverage. Don't forget to subtract existing savings and your spouse's income when determining the gap you need to fill.
- 2Term Length
Choose a term that covers your highest-risk financial period, which is usually until your mortgage is paid off and children are financially independent. If you have 20 years left on your mortgage and a 5-year-old child, a 30-year term would ensure coverage through your child's college years.
Longer terms cost more upfront but protect you from health changes that could make you uninsurable later. Consider your timeline: 10-year terms work for short-term debts, while 20-30 year terms suit families with mortgages and young children.
- 3Rates
Compare quotes from at least three insurers, because rates vary dramatically between companies for the same coverage.
Your health profile might make you a better fit for certain insurers as well. For instance, some providers specialize in people with diabetes, while others offer better rates for athletes or non-smokers.
Don't just focus on the lowest premium. Consider the insurer's rate increase history and whether they offer level premiums that won't change during your term. Remember that the cheapest policy isn't always the best value if the company has poor financial stability or customer service.
- 4Riders and Other Benefits
Focus on riders that address specific concerns rather than adding every option available. Here are some common riders and benefits:
- Accelerated death benefit riders let you access part of your death benefit if diagnosed with a terminal illness.
- Waiver of premium riders continue your coverage if you become disabled and can't work.
- Child term riders provide coverage for your children.
- Conversion options let you switch to permanent coverage later without a medical exam.
Avoid riders you don't need, as they will likely increase your premium and complicate your policy unnecessarily.
- 5Provider Financial Strength
Check the insurer's financial ratings from A.M. Best, which measures their ability to pay claims over time. Look for companies with A+ or A++ ratings, indicating superior financial strength. You should also review customer satisfaction scores from J.D. Power and complaint ratios from state insurance departments to gauge how well they treat policyholders.
A financially strong company with good customer service helps ensure your beneficiaries will receive their payout when needed. A weak insurer, however, might struggle to pay claims during economic downturns.
Bottom Line
Term life insurance offers affordable financial protection for your loved ones during vulnerable years. Whether raising a family, paying off debt or planning for children's education, the right term policy can provide peace of mind.
Legal & General leads MoneyGeek's rankings for the best overall term life insurance, while Lincoln Financial offers the most affordable rates and Pacific Life is the best for young adults. Compare term lengths, coverage amounts and premiums to find coverage that fits your needs and budget.
Frequently Asked Questions (FAQs)
MoneyGeek's experts answered common questions about term life insurance companies and policies.
What factors affect term life insurance cost?
Term life insurance costs depend on your age, health, policy length and coverage amount. Younger, healthier applicants pay less. Tobacco use can double or triple your premiums. Women pay 20% to 30% less than men due to longer life expectancy. Your occupation and lifestyle also affect rates, with riskier activities leading to higher premiums.
How much term life insurance coverage do you need?
A commonly used rule of thumb to determine your coverage level when purchasing term life insurance is to multiply your annual income by 10. This number may not be sufficient for families with children, though, because college expenses add up quickly. Adding $100,000 per child to your coverage is recommended to account for education expenses. Use our life insurance calculator for a more personalized assessment of your coverage needs.
Can term life insurance be cashed out?
No, term life insurance policies have no cash value and cannot be cashed out. Term policies provide death benefit protection during the coverage period but don't accumulate cash value like permanent life insurance policies.
What happens if you outlive your term life insurance?
If you outlive your term policy, coverage ends unless you renew at higher rates based on your current age. If you need coverage beyond the term, consider converting to whole life insurance. Top term life insurers offer flexible conversion options and competitive rates for transitioning to long-term coverage.
Can term life insurance be converted to whole life?
Most term life insurance policies include conversion options to whole life insurance without medical exams. Conversion deadlines and coverage limits vary by insurer, so review your policy details and contact your insurance company about specific conversion requirements.
Are term life insurance proceeds taxable?
Term life insurance death benefits are not taxable income for beneficiaries. Exceptions include policies transferred for valuable consideration or proceeds paid to estates subject to estate taxes. Consult a tax professional for guidance on your specific tax situation.
Can you renew a term life insurance policy when the term expires?
Most term life insurance companies offer guaranteed renewability. This allows you to continue coverage when the term expires without a medical exam, but premiums will likely increase based on your current age. For example, a $100 monthly premium might jump to $400 when you renew at age 60.
Finding the Best Term Life Insurance Policies: Expert Advice
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Our Review Methodology
We analyzed 1,488 life insurance quotes from 29 companies alongside customer satisfaction, financial stability reports, product offerings and more to determine the best term life insurance companies.
MoneyGeek created a scoring system to compare term life insurance companies across three categories and ranked them based on their scores. We chose to review these companies based on their broad national coverage and ability to provide an online quote.
MoneyGeek’s Scoring System
Companies earn up to five points in each category in our unique scoring system. We then use these category scores to calculate an overall MoneyGeek score out of 100. We applied the following weightings to score insurers:
- Affordability (50%): How competitive and reasonable the provider's premium rates are compared to other insurers in the market.
- Customer Experience (30%): The quality of customer service, claims processing efficiency, and overall satisfaction based on customer feedback and industry ratings.
- Coverage Options (20%): The variety and flexibility of life insurance products offered, including different policy types, riders, and customization features available to meet diverse customer needs.
Each company’s score incorporates:
- Cost data obtained through online quotes
- Financial strength ratings from AM Best and the number of years in business
- Customer satisfaction data from the National Association of Insurance Commissioners (NAIC) customer complaint index
- Availability of tools to aid in the buying process, such as online product materials and multiple payment options
- Diversity of life insurance products offered
Sample Customer Profile
MoneyGeek used a standard profile to get life insurance quotes:
- 40-year-old male
- Nonsmoker
- 5 feet, 9 inches tall, 160 pounds
- Average health rating
Premiums are based on the standard profile unless otherwise noted. In some cases, we modified the profile by age, gender, height, weight, tobacco use, health rating and geographic location to collect various quotes and determine the best life insurance company for several types of customers. We also collected quotes for term life insurance with varying term lengths and coverage amounts.
We identified trends in the data set and used those patterns to calculate projections and extend the data beyond what was originally collected.
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About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.