10 Best Life Insurance Companies for 2027

How We Chose Our 10 Best Life Insurance Companies

This is not a ranking of every insurer in America, and the numbers do not mean that company #1 is universally better than company #10. It is a comparison of ten carriers PinnacleQuote uses for different life-insurance needs, based on the types of clients we actually shop.

We reviewed current carrier product materials, term options, underwriting flexibility, issue ages, conversion features, accelerated or non-medical underwriting, living-benefit features, simplified-issue options, permanent-coverage use cases, business-planning strengths, and final-expense products. We also reviewed current public financial-strength information where appropriate.

Top 10 Life Insurance Companies We Use for 2027

Each insurer has a different reason for making this list. The table below shows the role each carrier can play rather than pretending all ten compete for the exact same applicant.

Product availability, underwriting, issue ages, face amounts, riders, and pricing can vary by state and applicant. Carrier-approved illustrations, applications, and policy contracts control.

1. Prudential — Strong for Complex Underwriting

Prudential’s EssentialTerm Value provides straightforward term protection with 10-, 15-, 20-, and 30-year term choices. The current consumer brochure also highlights conversion to permanent coverage, a terminal-illness rider, and an accelerated underwriting path called PruFast Track.

For eligible applicants, PruFast Track can bypass medical exams and lab work. Prudential’s brochure lists eligibility for ages 18–60 applying for $100,000 to $3 million, although underwriting and state availability control the final path.

2. Banner Life — Strong for Competitive Term Pricing

Banner Life’s OPTerm offers one of the broadest term menus in this group: 10, 15, 20, 25, 30, 35, and 40 years. Current carrier material also shows coverage bands extending well into multi-million-dollar face amounts and conversion privileges during the applicable conversion period.

Banner’s 2026 consumer brochure specifically highlights favorable consideration for certain controlled profiles, including treated high blood pressure, total cholesterol under 300, controlled type 2 diabetes, compliant sleep apnea, limited asthma treatment, and some anxiety/depression cases.

3. Protective Life — Strong for Long-Term Flexibility

Protective Classic Choice Term offers 10-, 15-, 20-, 25-, 30-, 35-, and 40-year initial level term periods. The product guide lists a $100,000 minimum face amount with no set maximum face amount, subject to underwriting and issue-age restrictions.

Protective can be especially useful when someone wants to match coverage to a long mortgage, family-income period, or other time-specific need. Conversion and rider options should be reviewed against the applicant’s long-term goals, not just the initial monthly premium.

4. John Hancock — Strong for Wellness Benefits and Conversion

John Hancock Core Term offers 10-, 15-, 20-, and 30-year term durations with guaranteed-level premiums during the selected level period. The current 2026 consumer guide also provides a conversion option to an eligible John Hancock permanent policy, generally up to age 70 subject to the contract rules.

Core Term includes access to John Hancock Vitality GO in eligible states. That program can provide wellness tools, discounts, and rewards tied to healthy activities and purchases.

5. Foresters — Strong for Flexible Underwriting and Member Benefits

Foresters Your Term offers 10-, 15-, 20-, 25-, and 30-year term choices. Carrier materials show non-medical underwriting for eligible applicants and a separate medical underwriting path for larger coverage amounts.

Your Term also combines traditional term protection with Foresters member benefits and a Charity Benefit provision. Conversion to eligible permanent Foresters coverage can also be available without new underwriting during the permitted conversion period.

For applicants specifically seeking no-exam coverage, see our no medical exam life insurance guide.

6. Assurity — Strong for Accelerated Underwriting and Living Benefits

Assurity Term Life with Accelerated Underwriting offers 10-, 15-, 20-, and 30-year terms. Its consumer material says qualified applicants can receive an immediate coverage decision without a medical exam for selected face amounts up to $1 million.

The base product also includes an Accelerated Benefits Rider for eligible terminal illness or permanent nursing-home care, with optional riders available for critical illness, disability income, and return of premium.

7. Principal — Strong for Business and Key-Person Planning

Principal Term offers 10-, 15-, 20-, and 30-year term lengths and may use Principal Accelerated Underwriting for qualifying applicants. The product can work for personal income replacement, mortgage protection, or business needs.

Principal stands out in this group because its product materials specifically address business planning. Available features can include a Business Value Increase Rider and Salary Increase Rider, helping certain business-owner or key-employee cases increase coverage as business value or salary grows without new underwriting, subject to rider rules.

8. Mutual of Omaha — Strong for Product Breadth and Senior Coverage

Mutual of Omaha earns a place in the Top 10 because it can serve several different markets instead of fitting only one narrow niche. Its current term portfolio includes 10-, 15-, 20-, and 30-year term options, with issue ages extending as high as 80 for some term/risk-class combinations and face amounts beginning at $100,000 for its fully underwritten term coverage.

Mutual of Omaha also has simplified-issue options. Term Life Express offers 10-, 15-, 20-, and 30-year terms and can extend through age 75, while Living Promise final expense offers a Level Benefit plan through age 85 and a Graded Benefit plan through age 80, subject to state availability and underwriting.

For the senior market, see our Mutual of Omaha burial insurance review.

9. North American — Strong for Living Benefits and Conversion Flexibility

North American’s ADDvantage Term offers 10-, 15-, 20-, and 30-year level-premium periods. Its September 2026 consumer brochure also highlights conversion to most currently available individual permanent life products without new evidence of insurability, subject to the policy’s conversion schedule and issue-age restrictions.

One of North American’s strongest differentiators is its accelerated death benefit structure. On eligible ADDvantage Term policies, accelerated death benefit endorsements can provide access to a portion of the death benefit after a qualifying critical, chronic, or terminal illness. These benefits are included at issue on eligible policies without an additional premium charge, although eligibility rules, administrative fees, discounting, state availability, and policy provisions apply.

North American’s current brochure lists A+ financial-strength ratings from A.M. Best, S&P Global Ratings, and Fitch Ratings as part of Sammons Financial Group, with the cited 2026 affirmation dates shown in the carrier material.

10. American Amicable — Strong for Simplified-Issue and Final Expense

American Amicable belongs in this list for a different reason than Banner, Protective, or Prudential. Its strength is simplified-issue permanent coverage and final expense rather than large traditional term cases.

Current American Amicable product material lists simplified-issue, no-exam final-expense coverage with issue ages 50–85 for its older-age market. Its Immediate Death Benefit option can offer up to $50,000 for ages 50–75 and up to $25,000 for ages 76–85, subject to underwriting and state availability. The company also offers graded and return-of-premium benefit structures for applicants who do not qualify for immediate death benefits.

See our American Amicable life insurance review.

Which Life Insurance Company Is Best for Different Health Profiles?

This is where an independent-broker approach matters most. Carriers do not evaluate every diagnosis, build, medication, tobacco pattern, or family history the same way.

Rather than declaring one company universally best, we use the applicant’s actual profile to decide where to start. These examples are underwriting directions—not guarantees of approval or a specific rate class.

Which of These Life Insurance Companies Has the Best Rates?

There is no honest single answer because life insurance pricing is individualized. Age, sex where permitted, tobacco use, health history, family history, occupation, hobbies, term length, coverage amount, state, and underwriting class all influence the premium.

Banner is often highly competitive for term pricing, but the cheapest carrier can change after underwriting. Mutual of Omaha, North American, Prudential, Protective, John Hancock, Foresters, Assurity, and Principal may become more competitive depending on age, health, term length, face amount, and underwriting class. American Amicable is usually being compared for a different need—simplified-issue permanent or final-expense coverage—so its pricing should not be treated as an apples-to-apples term comparison.

People Also Ask About the Best Life Insurance Companies

These answers focus on how to choose a company rather than assuming one insurer is best for every buyer.

What is the best life insurance company overall?

There is no single best company for everyone. The best insurer is the one that combines competitive pricing with favorable underwriting for your age, health, tobacco use, coverage amount, term length, and state. An independent comparison is especially valuable when you have a medical condition or need a longer term.

Which life insurance company is best for term life?

Banner and Protective are strong starting points for many term buyers because both offer term lengths through 40 years, subject to age limits. Prudential, John Hancock, Foresters, Assurity, Principal, Mutual of Omaha, and North American can become better choices depending on health, age, accelerated underwriting, conversion, living benefits, or business-planning needs.

Which life insurance company is best for pre-existing conditions?

It depends on the diagnosis and how well it is controlled. Banner’s current material specifically mentions controlled type 2 diabetes, compliant sleep apnea, treated blood pressure, certain cholesterol levels, and limited asthma or anxiety/depression treatment. Prudential and Foresters can also be valuable comparisons for selected medical histories.

Should I choose the company with the highest financial-strength rating?

Financial strength matters because it reflects an insurer’s ability to meet policy obligations, but it is only one part of the decision. Product terms, underwriting, premium, conversion rights, riders, state availability, and the specific policy contract also matter when comparing companies.

Is it better to buy life insurance through an independent agent?

An independent agent can compare multiple insurers instead of representing only one carrier. That can be particularly useful when carriers view your health, build, tobacco use, medications, occupation, or hobbies differently. The final carrier choice should still be based on the policy that best fits your needs and underwriting profile.

Best Life Insurance Companies FAQ

These final questions cover practical issues that often come up after someone has narrowed the carrier list.