Best Term Life Insurance Companies of 2023

 A Life insurance term could safeguard your family in the event that you die. The top-rated insurance companies can help you get enough insurance to pay off debts as well as restore income lost in the case of your death. Insurance companies should also have a strong financial rating, various policy options and a high level of customer service. We’ve provided our assessment of the most highly rated term life insurance firms and agencies that can help you in preparing your final plans.

Our Best Term Life Insurance Companies of 2023

  • Bestow
  • Haven Life
  • State Farm
  • USAA
  • Nationwide
  • MassMutual
  • Lincoln Financial Group
  • New York Life
  • Northwestern Mutual
  • Guardian Life

Best Term Life Insurance Companies in Detail

Bestow >>

Pros:

  • No medical exam is required to be able to apply
  • Applications and online quotes are are available

Cons:

  • There is no conversion option
  • No riders are available

Bestow offers a term life insurance plan that doesn’t require medical exams. The term ranges between 10 and 30 years. The applicants can obtain an online quote and then apply online, which according to the company could be as quick than five minutes. It’s also the No. 4 in our Cheapest Life Insurance Companies of 2023. The company does not offer riders to increase the value of its policies and also doesn’t provide permanent policies, which means you won’t be able of converting your existing term plan to a total or universal policy.

Bestow is a virtual life insurance company. The policies they sell are issued by the North American Company for Life and Health Insurance.

Policy Types Available: Traditional term life

Coverage: Bestow’s term policies cover anything from $50,000 up from $1.5 million of coverage.

Limitations on Coverage: To qualify, applicants must be between 18 and 60.

Haven Life >>

Pros:

  • Flexible, high coverages and flexible
  • There is no medical exam option

Cons:

  • There is no option to change to permanent coverage
  • It is more expensive than some of the other top insurers

Haven Life sells two life insurance policies namely the Simple Term policy as well as the Simple Term policy. There is no permanent coverage through this firm, which means there’s no way to change it later. The standard Term policy requires a medical examination generally, but provides greater coverage than the simple Term policy, which doesn’t require the need for a medical examination.

Haven Life is a life insurance company. The policies it offers are offered through or MassMutual or C.M. Life Insurance Co., which is a subsidiary of MassMutual.

Types of Policies Available: Traditional term life

Coverage amount: You can get as much as $500,000 of coverage under the simple Term policy. The standard Term policy could reach up to $3 million of coverage.

Limitations on Coverage: The Simple policy will require applicants to be between from the age of 20 to 55. The Standard term policy is only accessible to those who are 64 or less.

Also Read:- Best Car Insurance Companies Of April 2023

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