The 8 Best Term Life Insurance Companies

Bestow: Best for Fast Underwriting

Bestow is another digital-first-term life insurance provider with an even faster application process than Haven Life. Bestow says you won’t spend more than five minutes requesting coverage, almost completely eliminating the “not enough time” excuse.

In addition, Bestow’s underwriting process is entirely algorithm-based and can approve policies up to $1.5 million without the need for a medical exam.


  • Coverage starts at $50,000
  • Open to applicants up to 60 years old.
  • Premiums start at $10 per month
  • Terms range from 10 to 30 years in five-year increments
  • It has an A+ (Superior) financial strength rating from A.M. Better

Sproutt: Best Nontraditional Underwriting Process

Sproutt isn’t the only life insurance provider to use non-traditional underwriting factors. But as an online life insurance broker, you’re in the best position to deliver results to applicants who don’t want to be subject to cumbersome medical underwriting processes.

Sproutt’s secret ingredient is the innovative Quality of Life Index (QL Index), which assesses your risk using factors other than your personal and family health history.

Your exercise habits, including type and frequency of exercise, Your work-life balance, Your emotional health, Your sleep habits and quality, Your nutrition and eating habits.

The QL Index does not completely replace traditional underwriting considerations, and some insurers that work with Sproutt require medical exams. But it’s still a useful way of looking at things and can help you get a better term life policy than if you hadn’t used Sproutt.


  • Quotes generated in minutes
  • Sproutt agents can help you apply directly with the insurer
  • Choose from medically fully underwritten term life insurance, no-exam life insurance, and guaranteed issue life insurance (for seniors)

Ladder: Best for No Medical Exam

Ladder is one of many life insurance companies that do not require a medical exam as a condition of underwriting. What sets it apart is its unusual flexibility for no-exam applicants: You can get up to a $3 million death benefit without an exam if you’re in excellent health and have no red flags in your medical history.


  • Conditional approval in minutes
  • In-home exam option for policies over $3 million
  • Premiums start at just $5 per month for applicants in excellent health
  • Reduce coverage over time with multiple policies as your life insurance needs decrease

Haven Life: Best Overall

Haven Simple: Haven also offers a simplified issue term life policy, which means a life insurance medical exam is never required. You must be between 20 and 55 years old to apply. Coverage is available in terms of 5, 10, 15 and 20 years. Policy amounts range from $25,000 to $500,000.

Haven Term Life: Haven Life uses accelerated underwriting, which means you may not need to take a medical exam to qualify for coverage. Policies are available to applicants age 64 and under, with coverage amounts up to $3 million. Policies are available in terms of 10, 15, 20, 25 or 30 years.

  • Terms ranging from 10 to 30 years
  • Super affordable life insurance premiums for people in good health
  • A fast, fully digital application process that typically takes around 10 minutes
  • Premium Transparency: Haven’s intake screen shows actual premiums paid by anonymous but real customers
  • Up to $1 million in coverage without a medical exam if you’re under 59, although your rates will be lower and coverage higher if you choose to have an exam
  • Haven Plus, an optional add-on available in most states that offers complimentary memberships for wellness and fitness apps, plus discounted services at MinuteClinic locations within thousands of CVS and Target stores
  • Haven Simple, a simplified issue life insurance policy that provides up to $500,000 in coverage for qualified applicants

Quotacy: Best Term Life Insurance Broker

Quotacy is an online insurance broker that focuses solely on life insurance quotes, including term life insurance. That gives it some distinct advantages over other online insurance brokers:

  • Competitive premium payments on larger policies
  • A quote creation process that takes just five minutes online
  • The option to choose from multiple insurers and policy types to suit your needs
  • Human agents who can guide you through the life insurance application process
  • The potential to find term life policies up to 40 years, a longer term than the usual maximum of 30 years

State Farm: Best If You Want to Work With an Agent

Select Term Life Insurance – Coverage starts at $100,000 and is available to applicants ages 18-75. You have the option of adding a child rider, a term rider, or a premium rider waiver at an additional cost. The terms available are 10, 20 and 30 years.

Return of Premium Life – Similar to the standard term life product, this policy offers coverage for a set number of years. But if you exceed the term, it returns the premiums you paid. You must be between the ages of 18 and 60 to apply, and coverage is available in terms of 20 and 30 years. Keep in mind, however, that return-of-premium life insurance tends to be more expensive than standard term policies.

Instant Response Term Life Insurance – You can apply in person with a State Farm agent and get coverage the same day. The policy lasts 10 years or until you turn 50, whichever is longer, and only $50,000 of coverage is available.


  • Excellent customer satisfaction rates
  • A++ (Superior) Financial Strength Rating from A.M. Better
  • Instant Response Term Life Insurance: A 10-year, $50,000 policy for people under age 50 that doesn’t require a medical exam
  • Optional return of premium clause on a 20 or 30 year level term policy: payment of premiums paid by insureds who survive the initial term

Fabric: Best for Larger Policies

Term Life: Fabric sells term life insurance with coverage amounts ranging from $100,000 to $5 million. The online application takes 10 minutes to complete. If you choose to purchase more than $1.5 million in coverage, an in-person medical exam is required. The duration of the policies ranges from 10 to 30 years.


  • Get accidental death coverage up to $500,000
  • Take advantage of Fabric’s will preparation services for estate planning
  • Backed by Vantis Life, which has an A+ (Superior) financial strength rating
  • Set up a free, secure online vault for financial and personal documents
  • Monthly rates start at $1 per month for a coverage amount of up to $1 million

Policygenius: Best All-Around Life Insurance Broker

Policygenius is another online insurance broker. Unlike Quotacy, it is not limited to life insurance rates; You can also find homeowners insurance, renters insurance, auto insurance, disability insurance, and pet health insurance here.

Needless to say, that’s great news if you’re shopping for more than one type of insurance at the same time. And because Policygenius works with many insurers that offer more than just life insurance, you can find answers to all your insurance questions, and solutions for all your needs, under one roof.

Walnut: Best for Value-Added Features:

Walnut offers a membership-based life insurance solution that it calls “premium membership life insurance.” Basically, that means Walnut has a lot of value-added features included in your monthly premium.

That’s a cumulative value of more than $25 per month, excluding the cost of insurance. And for an additional monthly fee, take advantage of a Digital Protection Membership that includes:

  • Coverage without exam for eligible applicants
  • A membership to Dashlane Premium, a digital password manager
  • A membership to ClassPass Digital, a library of home exercise videos
  • A membership to Headspace Plus, a library of guided meditation and self-directed therapy
  • Term life insurance coverage with transparent pricing – know how much it will cost before you apply.
  • 24/7 access to a cyber support helpline
  • Up to $1 million in reimbursement of stolen funds if you are a victim of identity theft

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