If you’re evaluating your financial picture for 2023, make sure to consider life insurance. The purpose of life insurance is to have the peace of mind of knowing your loved ones will be taken care of financially if you pass away. But 67% of Americans say they are concerned that their loved ones would not be able to cover even regular monthly expenses if they were no longer around, according to a recent Forbes Advisor survey.
Life insurance buyers have many choices depending on their financial goals and budgets. To find the best life insurance companies, we evaluated term and permanent life insurance using data provided by: AccuQuote, a national online life insurance agency; Veralytic, an independent provider of life insurance reports that help consumers and their financial advisors compare cash value life insurance policies to others; and our own research.
The Best Life Insurance Companies
- Pacific Life – Best for Variable Universal Life Insurance
- Penn Mutual – Best for Seniors
- Protective – Best for Universal Life Insurance
- AIG – Best for Recreational Marijuana Use
- Mutual of Omaha – Best for Gen x & Millennials
- Transamerica – Best for Reliable Policy Illustrations
- John Hancock – Best for Celebratory Cigar Use
- Lincoln Financial – Great For Estate Planning
- Securian Financial/Minnesota Life – Best For Indexed Universal Life Insurance
- Symetra – Best For term Life insurance Rates