Top-Notch Life Insurance Providers to Consider in May 2025
Revamped Best Life Insurance Companies for May 2025
Hey there! Here's a lowdown on the cream of the crop life insurance companies for May 2025. These top-notch insurance providers outshine the rest due to their extensive offerings, sterling financial footing, and high customer satisfaction ratings.
1. Nationwide
Let's kick things off with Nationwide—your go-to for diverse life insurance products and features. Thanks to its mammoth selection of policies and its solid financial standing, Nationwide grabs the top spot. It's more than worthy of being titled the best overall choice, as well as the best pick for children's life insurance and people over 50.
Key Highlights:
- Financial Strength Rating: A
- Customer Complaints: Much better than expected for company size
- Living Benefit Riders: Included at no extra cost
- Child Life Insurance: Large policies for kids, transferable to adulthood, and convertible to permanent policies
- Whole Life Insurance: No coverage limits for many policy types
2. Banner by Legal & General
Next up, savvy shoppers on the hunt for the best term life insurance should look no further than Banner by Legal & General. This excellent provider has an edge with affordable premiums, lengthy 40-year terms, and term policies that can be renewed and converted to permanent plans without a medical exam.
Key Highlights:
- Financial Strength Rating: A
- Customer Complaints: Low
- Premiums: Budget-friendly
- Lengthy Term Policies: Lasting up to 40 years
- No-Medical-Exam Policies: No coverage caps
3. Protective Life
Protective Life is a solid option when it comes to child life insurance. Its standout child term rider offers long-lasting, transferable, and convertible coverage for your kiddos. Adult policies are equally impressive, with a wide range of options from term to permanent policies.
Key Highlights:
- Financial Strength Rating: A
- Complaints: Low
- Child Life Insurance: Distinctive child term rider
- Adult Policies: Term, whole, universal, IUL, and VUL
4. SBLI
When it comes to the cheapest term life insurance premiums, SBLI more than delivers. This provider also checks the box for affordability without sacrificing customer satisfaction. Plus, term policies can be converted to permanent insurance without a medical exam.
Key Highlights:
- Financial Strength Rating: A
- Complaints: Low
- Budget-friendly premiums: Some of the lowest found when investigating 45 providers
- Live support: Online quotes and applications, as well as a live chat feature
For More Information:
- Why Trust Us: Find out why you can rely on our unbiased reviews at Investopedia.com
- Methodology: Discover how we crunched the numbers to find the top providers
- Types of Life Insurance Policies: Get the scoop on term, whole, universal, IUL, VUL, and no-medical-exam life insurance
- No-Medical-Exam Life Insurance: Learn about accelerated underwriting, simplified issue, and guaranteed issue policies
[1] J.D. Power. "Life Insurers Miss the Mark on Clarity of Information and Personalization-Particularly Among Younger Customers, J.D. Power Finds."[2] MoneyGeek. "Best Life Insurance Companies of 2023."[3] NerdWallet. "Best Life Insurance Companies of 2023."[4] Northwestern Mutual. "Find an Adviser."[5] Northwestern Mutual. "Products and Services."[6] Guardian Life Insurance. "Term Life Insurance."[7] State Farm. "Life Insurance Products."[8] New York Life. "About NYL."
In the realm of personal finance, Nationwide offers an array of diverse life insurance products, earning it the top spot in the industry. Its financial strength rating is A, and it boasts a solid financial standing. (Nationwide)
Frugal shoppers searching for affordable term life insurance should consider Banner by Legal & General. This provider offers budget-friendly premiums, lengthy 40-year terms, and the option to renew and convert policies without a medical exam. (Banner by Legal & General)
