![]() ![]() If you want more than just death benefit protection on a term policy, Mutual of Omaha is hard to beat. And if you’re over 64 or looking for no-medical-exam coverage above $500,000, you’ll need to look elsewhere. But unlike every other company on this list, Haven’s term policies don’t let you convert to permanent life insurance. When you get a policy from Haven, it’s issued by parent company MassMutual, which means it’s backed by the company we named best for financial stability (below). And healthy applicants up to 55 years old looking for up to $500,000 in coverage may be able to get a decision in minutes for coverage that begins immediately. You can also use Haven Life’s live chat feature to connect with an agent, but you don’t have to speak with a company rep in order to apply. ![]() Informative popups guide you and you can submit an application online without an agent in just a few minutes. When researching Haven Life, we were impressed with its user-friendly website, and the online quote and application process is a breeze. ![]() Haven makes our list as a great term life insurance company that offers an easy same-day approval process for qualified applicants with excellent pricing. It ranked 16th out of 21 companies in the survey. Power ranked Protective below average in its 2021 study of customer satisfaction with U.S. And while both companies boast a range of great features like no-exam life insurance and online life insurance quotes and applications, Protective wins by offering something Banner doesn’t: credit card payments.īut if customer satisfaction is more important to you than cost and convenience, note that J.D. ![]() That’s one the longest terms we’ve found. On top of that, Protective and Banner are the only two companies we found that offer a 40-year term. Protective tied with our number two choice, Banner, for the cheapest term life insurance, based on the sample applicants we gathered quotes for. Protective is our pick for best term life insurance thanks to its cheap coverage, no-exam policies (no agent contact required), strong financials, and stellar online features. It's also our top pick for best life insurance companies for young adults. We also considered offerings between top companies including maximum coverage amounts without a medical exam, maximum issue ages for term policies, and included riders. We then rated the companies based on the following main categories: ease of application, such as online quotes, online applications, same-day coverage, and no-med-exam policies (40% of score) policy features, such as renewal options, convertibility, and available terms (20%) cost (20%) and customer service features, such as live chat and credit card payments (20%). To find the best term life insurance companies, we studied 91 different insurers across more than 50 data points. While term life insurance is sufficient for some, it can be purchased alongside permanent life insurance for increased coverage and lifelong protection. This is particularly popular for young families and individuals seeking affordable protection, especially those looking for quick-issue coverage online. Term life insurance offers protection for a specific period of time-anywhere from one to 40 years, depending on the carrier. ![]()
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