Best Term Life Insurance Companies of 2026

• Very competitive pricing with a $671 average annual premium, helping consumers secure strong coverage without overspending
• Excellent complaint record with a 0.076 NAIC index, giving buyers confidence in dependable service and smooth claims handling
• A+ (Superior) AM Best rating, reassuring policyholders that their insurer is financially stable and capable of paying long-term claims
• Wide range of term lengths, allowing consumers to match their coverage duration to their mortgage, family needs or financial goals
• Optional riders and added benefits, letting buyers tailor their policy for more protection without switching insurers later

Pacific Life’s PL Promise Term products are offered through licensed agents and online broker platforms. Applications can be submitted electronically, and the company’s accelerated underwriting process helps move qualified applicants through quickly and efficiently.

Pacific Life offers an accelerated underwriting pathway for eligible applicants — typically adults ages 18 to 60 who meet certain health and risk criteria. Many of these applicants may qualify for coverage without completing a traditional medical exam, relying instead on digital health data and background checks.

PL Promise Term allows policyholders to convert all or part of their term coverage to a permanent Pacific Life policy during the level-premium period or until age 70, whichever comes first. No new medical exam is required, which can be beneficial if health changes later.

• PL Promise Term available in 10-, 15-, 20-, 25- and 30-year durations
• Minimum face amount of $50,000, with higher limits available for qualifying applicants
• Many policies include a built-in accelerated death benefit for terminal illness
• Optional riders such as children’s term and waiver of premium available in most states
• Electronic policy delivery and flexible premium payment modes

• Shoppers who want strong pricing without compromising on financial strength
• People needing longer 25- or 30-year terms at affordable rates
• Healthy applicants hoping for a quicker, no-exam approval path
• Buyers comfortable applying through licensed brokers or online platform

• Policies can’t be purchased directly from Pacific Life — buyers must work through a licensed agent or broker
• No-medical-exam eligibility is limited and not guaranteed, especially for higher-risk applicants
• Converting to permanent coverage later in the term period typically results in higher premiums than purchasing permanent insurance from the start

• Strong pricing at a $724 average annual premium, keeping high coverage amounts reasonably affordable
• Low NAIC complaint index of 0.161, suggesting consistent service for a large, established insurer
• A++ (Superior) AM Best rating, giving buyers maximum reassurance on claims-paying strength
• High available face amounts, making it a strong candidate for families and professionals who need seven-figure protection
• Robust agent network and planning support, helping consumers integrate coverage into broader financial plans

New York Life is a traditional, agent-driven company. Applications are typically completed with a licensed agent who can walk through options, riders and long-term planning. Many cases use full medical underwriting; some may qualify for streamlined or limited-exam approaches depending on age, health and coverage amount.

New York Life offers simplified-issue and no-exam term policies under select products — for example, its term life option through AARP provides coverage from $10,000 up to $150,000 for eligible applicants age 50–74 (spouses and partners age 45–74) with no medical exam required.

That said, for most standard term products (especially higher face amounts), a full medical exam is still required. Choosing a no-exam policy often means lower coverage amounts, higher premiums and a health questionnaire instead of a full exam, according to the company website.

Policyholders can convert their term coverage to permanent insurance within specified time frames, generally without a new medical exam, which is useful if health changes but longer-term coverage is needed.

• Level term options commonly available in 10-, 15- and 20-year durations
• High maximum face amounts suitable for income replacement, estate liquidity or business needs
• Multiple rider options, including waiver of premium and spouse-related options on some term contracts
• Strong emphasis on in-person or virtual financial guidance through agents

• Buyers seeking high face amounts, often in the seven-figure range
• Households and business owners who value long-term relationships with a career agent
• Consumers who want the flexibility to convert to permanent coverage later with a financially elite mutual company
• People who prioritize top-tier financial strength ratings above rock-bottom pricing

• Application process is more traditional and agent-centric, which may feel slow for purely digital shoppers
• Premiums may be higher than some online-first competitors at lower coverage amounts
• No-exam options are more limited for large policies, so many buyers should expect full underwriting

• Competitive $726 average annual premium, helping buyers get solid coverage without overpaying
• Low complaint index of 0.023, signaling highly consistent customer experience
• A+ (Superior) AM Best rating, giving policyholders confidence in long-term stability
• Strong conversion flexibility, letting consumers shift to a wide range of permanent products as needs change
• Good balance of price, strength and adaptability, making it attractive for buyers who don’t want to sacrifice in any one area

Penn Mutual’s term products are sold through independent financial professionals. Applications are typically electronic, with advisors guiding product selection. The company is known for competitive underwriting and practical guidance via its advisors.

With Penn Mutual’s Accelerated Client Experience (ACE) platform, many of their term life policies allow eligible applicants to get coverage without a traditional medical exam. For example, if you’re under 65, applying for a term policy up to $10 million face amount (less any in-force with Penn Mutual) and qualify for a Standard or better risk class, you may be able to use this faster platform.

While it’s not available to everyone, ACE can make applying for term coverage feel more straightforward, with fewer steps and less back-and-forth during underwriting.

Penn Mutual’s Convertible 20-Year Term makes it easy to switch to long-term coverage if your needs change. You can convert your term policy to any permanent Penn Mutual policy that’s available in your state during the conversion period listed in your contract — and you won’t need a new medical exam or updated health information. This gives you room to adjust your coverage later in life, especially if your health shifts or you decide you want something more permanent.

• 20-year convertible term focused on long-term flexibility
• Access to a portfolio of permanent policies at conversion, subject to current product lineup
• Rider options such as waiver of premium and disability-related benefits in many states
• Strong support from independent advisors who can coordinate term and permanent coverage
• Competitive underwriting for a wide range of risk classes

• Buyers who want strong value today but also expect their needs to evolve
• Consumers who want robust, flexible conversion options without repeating medical underwriting
• Those who prefer to work with independent advisors rather than captive agent networks
• Shoppers who want both competitive pricing and very low complaint levels

• Products are typically accessed through advisors, not a direct online self-serve path
• No-exam eligibility still depends on health, age and coverage amount
• Product and conversion options can feel complex without guidance, which may not appeal to do-it-yourself shoppers

• Competitive pricing at $813 average annual premium, making it an affordable option for term life coverage
• Consumers can complete the entire process online for a faster, more convenient buying experience
• Low complaint activity with a 0.10 NAIC complaint index through its issuing carrier, supporting a dependable claims track record
• A+ (Superior) AM Best strength via Banner Life, giving digital-first buyers confidence in the underlying insurer
• Intuitive digital platform that walks users through quotes, applications and decisions without heavy agent interaction
• Broker-style access to coverage, helping consumers match themselves to policies issued by established carriers

Ethos is built around a quick, digital-first experience. Applicants answer health and lifestyle questions online, receive instant or near-instant decisions in many cases, and complete the process without traditional in-person meetings.

Ethos is built around no-exam underwriting, and most term applicants can qualify without completing a traditional medical exam. Instead, Ethos uses a short health questionnaire and digital data sources — like prescription history, MIB records and driving reports — to make decisions quickly. Eligible applicants (typically ages 20 to 69 applying for $5,000 up to $3 million in term coverage) can often receive an instant decision, with 95% of applications approved on the spot.

Not everyone will qualify for exam-free underwriting. Applicants requesting higher coverage amounts or those with more complex health histories may be asked for additional information or a follow-up review, but Ethos still avoids medical exams in most cases.

Ethos-issued term policies cannot be converted to a permanent policy.

• 20-year level term commonly offered, with other durations also available
• Coverage limits that can reach into the seven-figure range for qualifying applicants
• Fast, mostly online process with limited paperwork
• Policies backed by established insurers rather than by Ethos itself
• Simple interface that makes it easier for first-time buyers to navigate the process

• Shoppers who want a broker-like experience delivered through a digital platform
• Consumers who value speed and simplicity more than face-to-face agent relationships
• Healthy applicants seeking no-exam or low-friction underwriting
• People comfortable managing their policy primarily online

• Ethos is an intermediary, not the insurer, which may confuse buyers about who ultimately handles claims
• Some applicants will still face exams or extra requirements despite “no exam” marketing
• Pricing is competitive but not always the lowest available for shoppers who are willing to shop more broadly with independent agents

• $840 average annual premium from a top-tier mutual company, a solid value for the strength you’re getting
• Very low complaint index, which supports its reputation for smooth service and claims handling
• A++ (Superior) AM Best rating, the highest available, offering strong reassurance for long-term commitments
• Well-regarded conversion program, giving you an easy path into permanent coverage later
• Mutual structure, which appeals to buyers who like companies that are built around policyholders

You’ll typically work with a financial professional who helps you choose a term length and coverage amount, then submit an online application. It’s more of a planning conversation than a quick online form, which some buyers prefer.

MassMutual does offer accelerated underwriting on some term applications, but it’s more limited than what you’ll find with digital-first insurers. Eligible applicants — generally under age 50 and applying for up to $2 million in term coverage — may be considered for an expedited, no-exam review.

There isn’t a strict checklist that guarantees approval without an exam. MassMutual reviews your medical history, prescription records and other underwriting data to determine whether you qualify. Many applicants, especially those seeking larger coverage amounts or with more complex health backgrounds, should still expect a traditional medical exam as part of the process.

Vantage Term includes strong conversion options, allowing you to switch to a MassMutual permanent policy without a new medical exam if you do it within the allowed window. That can be a big plus if you expect your insurance needs to grow or change.

• Level term options including a 20-year term aimed at core family protection
• Conversion access to MassMutual’s permanent product lineup
• Rider options like waiver of premium available in many states
• Advisor support to help fit term coverage into a larger financial plan
• Long-standing brand with deep roots in the life insurance industry

• Buyers who want a financially solid insurer and are willing to pay a bit more for it
• People who might want to convert to permanent coverage later
• Consumers who like the idea of a mutual company that’s built around policyholders
• Those who prefer an advisor-guided experience instead of a DIY platform

• Not the cheapest option on the list, especially for very price-sensitive shoppers
• Application and underwriting are more traditional, which may feel slower compared to instant-decision platforms
• No-exam programs are limited to certain profiles and coverage amounts

• Unique Vitality rewards program that turns healthy habits into discounts, helping consumers lower premiums over time and stay engaged in their wellness
• A+ AM Best rating signals long-term financial strength, giving families confidence that claims will be paid when needed
• Competitive mid-range pricing from a major national carrier, appealing to buyers who want a balance of affordability and brand strength
• Multiple term lengths make it easy to match coverage to major milestones, like raising kids, paying a mortgage or planning for retirement
• Strong brand reputation with a large market presence, reassuring buyers who prefer well-established insurers

Applications are advisor-supported, giving buyers a clear explanation of how the policy works and how the Vitality program integrates with coverage. This makes the process straightforward for people who like professional guidance.

John Hancock offers accelerated underwriting through its ExpressTrack program, which allows many healthy applicants to skip the medical exam. It’s available to people ages 18 to 60 who are applying for $3 million or less in coverage. This applies to their standard term lineup, which offers 10-, 15-, 20-, and 30-year terms with coverage starting at $250,000.

Not everyone will qualify for an exam-free decision. Applicants outside the ExpressTrack age or coverage ranges — or those with more complex health histories — should expect a traditional medical exam as part of the process.

Protection Term policies typically allow conversion to permanent coverage during the eligible period without requiring a medical exam, a valuable benefit if your health changes later.

• Access to the John Hancock Vitality program
• 20-year term plus multiple other durations available
• Offers up to $65 million in life insurance coverage, securing enough coverage for high-net worth individuals
• Strong permanent life insurance portfolio for future conversion
• Rider options such as living benefits and waiver of premium
• Backed by a trusted national insurer with decades of experience

• Health-conscious buyers who want savings and perks tied to wellness habits
• Families who want coverage from a large, well-established company
• High net-worth individuals
• Buyers looking for advisor-led guidance and a structured application experience

• Vitality discounts require ongoing engagement, which may not fit all lifestyles
• Traditional underwriting means some applicants will face longer approval times
• Limited no-exam approvals, especially at higher coverage amounts

• Among the lowest premiums in the ranking, giving budget-conscious consumers an easy entry point into reliable life insurance
• A (Excellent) AM Best rating offers financial reassurance, especially important for families depending on long-term protection
• Flexible short-term options (10-20 years) allow buyers to match coverage to shorter goals like paying off debt or protecting pre-retirement years
• Strong fit for younger buyers seeking low-cost coverage, helping them secure protection early while rates are still low
• Appealing option for seniors needing shorter-duration coverage, offering affordability even at older ages

Applications run through agents and broker platforms, with most steps completed electronically. Buyers receive a clear overview of term options, pricing and required documents.

Corebridge Financial offers a streamlined underwriting process for many applicants, and some term policies may be approved without a medical exam. In certain cases, policies can be delivered quickly — sometimes immediately or within about 24 hours — depending on your age, health profile and the amount of coverage you’re applying for.

Because Corebridge evaluates each application individually, there isn’t a single set of criteria for who qualifies for no-exam approval. Your financial professional can review your specific situation and help determine whether you’re likely to be eligible for a faster, exam-free decision.

Most Select-a-Term products include the option to convert to permanent insurance without a medical exam during the eligible conversion period.

• 10-, 15-, 20-year terms and more
• Competitive pricing for both short- and mid-length terms
• Optional riders such as living benefits
• Digital tools available through broker platforms
• Strong brand with broad distribution

• Buyers who need short-term, affordable coverage, since Corebridge’s pricing works well for people wanting protection for 10–20 years without overspending
• Young adults who want budget-friendly coverage early in life, helping them lock in low rates at younger ages
• Older adults and seniors who only need a few years of coverage, since Corebridge remains relatively affordable even at age 60–65
• Shoppers who prefer agent or broker support, offering hands-on guidance while still accessing low premiums

• Higher complaint index means consumers may experience more service issues, such as slower responses or policy servicing delays
• No-exam approvals are limited, so many buyers should expect a medical exam
• Brand recognition varies, which may matter to shoppers who want a widely recognized, longstanding insurer

• Digital TermAccel application offers faster decisions, ideal for consumers who want efficiency
• No-exam term policies provide comparable coverage at competitive pricing, giving consumers convenience without paying more
• A financial strength rating ensures dependable long-term protection, important for families counting on future claims
• Multiple term lengths provide flexibility, helping buyers tailor coverage to their household timeline or budget
• Reliable service reputation reduces friction and uncertainty around servicing and claims
• Balance of digital convenience and advisor support lets consumers choose the buying experience that fits their comfort level

Lincoln offers both advisor-driven and digital-first paths. TermAccel minimizes paperwork and provides faster underwriting for eligible applicants.

TermAccel provides no-medical-exam underwriting for qualifying applicants based on age, coverage needs and health history, and its rates are generally competitive with fully medically underwritten policies.

Lincoln’s term products generally allow conversion to permanent insurance without a medical exam during the conversion period.

• Term options from 10 to 30 years
• Digital tools and e-delivery
• Optional riders such as waiver of premium
• Stable mid-range pricing
• Nationally recognized carrier

• Buyers who want a fast, digital-friendly application, since TermAccel streamlines approval
• Healthy applicants who hope to qualify for no-exam approval, reducing time and inconvenience
• Households wanting dependable mid-range pricing and strong financial stability
• Shoppers who value flexibility to choose between advisor support and online-first processes

• Not all applicants qualify for TermAccel’s quick underwriting, which may shift them to a slower, traditional process
• Pricing isn’t the most competitive for longer terms, which may push budget-focused buyers to other carriers
• Some riders vary by state, limiting customization depending on where the buyer lives

• Trusted national brand gives buyers confidence, especially those who prefer insurers with long histories
• A+ financial strength rating offers strong claims-paying ability, supporting families over decades
• Simple term structure makes it ideal for buyers needing clarity without complexity
• Consistent service record helps reduce friction, especially around billing or policy adjustments
• Agent support provides personalized guidance for buyers who want professional help

Applications are handled through agents, with digital tools used to streamline document collection and processing.

Mutual of Omaha offers a dedicated no-medical-exam term product called Term Life Express, which is available to applicants ages 18 to 70. It comes in 10-, 15-, 20-, and 30-year term lengths with coverage starting at $25,000 and maxing out between $150,000 and $300,000, depending on your age. This option uses simplified underwriting, so healthy applicants can often get approved based on health questions rather than a traditional medical exam.

For higher coverage amounts, Mutual of Omaha generally requires a full medical exam and traditional underwriting, especially for policies exceeding Term Life Express limits.

Most Term Life Answers policies include the option to convert to permanent coverage without a medical exam during the conversion period.

• 20-year term plus additional durations
• Optional riders including waiver of premium
• Clear, easy-to-understand design
• Strong service reputation
• Broad agent network

• Buyers wanting life insurance from a nationally recognized, trusted brand
• Families who prefer in-person or phone-based guidance during the application
• People who may convert to permanent insurance down the road
• First-time buyers who want simple, straightforward term coverage without complexity

• Premiums are higher compared to several competitors, especially for younger buyers
• Digital experience is not as modern as online-first insurers, leading to a slower process
• No-exam options are limited for higher coverage amounts, meaning many applicants will need a medical exam

• Best-in-class underwriting for smokers, helping tobacco users secure more affordable rates
• A+ financial strength rating provides long-term security for families
• Flexible underwriting accommodates various health profiles, improving approval odds for complex cases
• Advisor support helps guide applicants through a more detailed underwriting process
• Long-standing reputation offers reassurance for buyers who want a stable insurer

Prudential uses an advisor-led approach that benefits applicants with complex medical histories or tobacco use.

Prudential offers a no-exam pathway through its PruFast Track program. It’s available to eligible applicants ages 18 to 60 applying for $250,000 to $3 million in coverage. Healthy applicants who meet Prudential’s risk criteria may be able to bypass the traditional medical exam and receive a faster underwriting decision.

However, not everyone will qualify. Applicants with certain health conditions — and especially smokers — are more likely to require a full medical exam and traditional underwriting.

Term Essential policies allow for conversion to a permanent policy without a medical exam during the conversion window.

• Several term lengths available
• Strong permanent product options
• Living benefits available
• Advisor-guided process

• Smokers or tobacco users looking for more favorable pricing than other insurers provide
• Applicants with more complicated health histories who need flexible underwriting
• Families wanting stability from a financially strong, established brand
• Buyers planning to convert to permanent insurance later, preserving insurability

• Premiums for healthy, non-smoking applicants may be higher than competing insurers
• Underwriting can be slower for buyers needing full medical review
• Limited no-exam options reduce convenience for applicants seeking fast approval

• Very low premiums help make high-quality coverage accessible to more families
• Excellent financial rating provides reassurance despite lower pricing
• Living benefits offer financial support during serious medical situations
• Multiple term lengths match different budgets and planning needs
• Broad distribution through agents and brokers offers shopping flexibility

Applications are handled by agents or brokers through digital forms and streamlined submission.

Transamerica offers accelerated underwriting on its Trendsetter Super and Trendsetter LB term policies, and many applicants may qualify for no-medical-exam approval. Eligible buyers can apply for up to $2 million in coverage without completing a traditional exam, as long as they meet Transamerica’s age and health criteria.

While exam-free approval isn’t guaranteed, qualified applicants can receive the same policy — at comparable premiums — with a much faster decision and far fewer steps. Those applying for higher coverage amounts or with more complex health histories may still need a medical exam.

Most Trendsetter Super policies include a conversion option to permanent insurance without a medical exam.

• 10-, 15-, 20-, 25-, 30-year terms
• Living benefit riders
• Renewable beyond initial term
• Strong pricing for budget-conscious buyers

• Budget-focused buyers who want strong coverage at one of the lowest prices in the market
• Families who value built-in living benefits for added financial protection
• Shoppers comfortable working with agents or brokers for personalized guidance
• Buyers prioritizing affordability over brand prestige or complaint levels

• Higher complaint index suggests more customer service issues compared to competitors
• Experience can vary by agent, affecting consistency
• Limited no-exam pathways may lead to medical exams for many applicants
• Term life insurance isn’t available in New York

• A++ AM Best rating delivers top-tier financial strength, reassuring term buyers who want an insurer with exceptional long-term claims-paying ability
• Very low complaint index reflects reliable, consistent service, helping reduce billing issues, processing delays or communication problems
• Advisor-guided process offers personalized support, making it easier for buyers to understand term coverage and choose the right duration
• Strong brand reputation and long history, appealing to consumers who prefer well-established insurers
• Clear, stable policy structure, giving buyers straightforward term life coverage without added complexity

Guardian uses a traditional advisor-supported process that includes a needs review and electronic application. This hands-on approach benefits shoppers who appreciate guidance but is slower than digital-first platforms.

For applicants age 50 and under with solid health, Guardian can approve up to $3 million in coverage without requiring a medical exam.

Guardian’s Level Term 20 policy includes a built-in conversion option, but it’s only available during the first five years of the term. Policyholders who want a longer window can add the Extended Conversion Rider at the time of purchase, which allows conversion to a permanent Guardian whole life policy at any point during the 20-year level term. This setup gives buyers flexibility, but only if they elect the rider upfront.

• Level Term available in 20-year duration and additional terms
• Access to strong permanent life portfolio if conversion is ever needed
• Advisor-based planning support
• Consistently low complaint levels
• Very strong financial foundation

• Term buyers who prioritize exceptional financial strength, ensuring long-term dependability from their insurer
• Families who want a low-hassle ownership experience, supported by Guardian’s consistently strong service record
• Consumers who appreciate advisor-led guidance, especially when choosing term length or reviewing future needs
• People who value stability and predictability, and prefer a well-established insurer with a long track record

• Premiums are higher than many competitors, making it less appealing for buyers focused heavily on price
• Advisor-led application process is slower, which may not suit shoppers looking for a fast, digital-first approval
• Limited no-exam options, meaning most applicants at higher coverage levels should expect a medical exam

• Trusted household brand
• A financial rating offers reliable claims protection
• Straightforward policy design reduces complexity for first-time buyers
• AAA member benefits and savings can boost overall value, make coverage feel more cost-effective
• Agent support provides guidance throughout the process

Applications are started online or by phone and completed with a licensed AAA Life agent.

AAA Life offers a simplified underwriting path for certain applicants, and some may be approved without a medical exam based on their health questions and third-party data checks like MIB reports, prescription history and motor-vehicle records. Applicants in good health — especially younger buyers — may qualify for immediate approval on coverage amounts up to $3.5 million, while others may be asked to complete a medical exam if more information is needed.

Most policies allow conversion to permanent coverage without a medical exam or underwriting, but this option is limited to before you reach 65.

• 20-year term policy that’s easy to understand and budget for
• Members may qualify for exclusive discounts that help lower the overall cost of coverage
• Optional riders, including return of premium, to customize the policy to your needs
• The application is an agent-led process, giving you personal guidance from start to finish
• AAA is a widely recognized brand, which can offer added peace of mind when choosing coverage

• AAA members wanting convenience and brand familiarity
• First-time buyers who prefer simple coverage guided by an agent
• Families wanting a recognizable, trusted brand for life insurance
• Shoppers who value straightforward policies without complexity

• Premiums are higher than most competitors, reducing affordability
• High complaint index may mean more customer service problems
• No-exam perks are limited for higher coverage amounts

• Trusted national brand with strong local agent support, ideal for in-person assistance
• A financial rating indicates strong long-term claims-paying ability
• Simple policy design avoids confusion for buyers wanting basic coverage
• Bundling opportunities can streamline insurance management
• Local agents provide personalized service many families appreciate

Applications are completed with Farmers agents who handle quotes, document submissions and ongoing support.

Farmers’ Simple Term provides a simplified path to coverage by removing the medical exam requirement. Approval is based on your responses to health and background questions, and coverage amounts typically fall between $75,000 and $150,000.

Farmers Simple Term includes the option to convert to a Farmers whole life policy that builds cash value, allowing you to move from temporary to permanent coverage without a medical exam.

• Farmers offers a straightforward 20-year term structure that’s easy to understand
• Customers get personalized guidance from local agents who help with quotes, questions and applications
• The policy features clear, simple terms without complicated add-ons
• Farmers’ nationwide brand recognition provides added peace of mind for long-term reliability

• Existing Farmers customers who want the convenience of managing multiple policies with one insurer
• Families who prefer face-to-face guidance throughout the buying process
• Shoppers seeking a simple, no-frills term policy with predictable features
• Buyers who value in-person support and a dedicated local agent

• Premiums are among the highest in the ranking, reducing affordability
• Limited digital tools can slow the process for buyers who prefer an online-first experience
• No-exam eligibility is narrow, meaning many applicants may need a medical exam