8 Best Term Life Insurance Companies in April 2025

Term life insurance is one of the simplest and most affordable ways to protect your loved ones financially in the event of your passing. With fixed premiums and coverage amounts over a set term—typically 10, 20, or 30 years—it offers peace of mind without the complexities of whole or universal life policies.

But with so many insurers on the market, choosing the right one can be overwhelming. To help you make a confident decision, we’ve reviewed dozens of providers and selected the 8 best term life insurance companies in April 2025, based on pricing, financial strength, customer service, and unique features.

1. Haven Life – Best Overall

Why we like it: Backed by MassMutual, a top-rated insurer, Haven Life offers a fast, fully online experience and competitive rates for healthy applicants.

Coverage Amounts: $100,000 to $3 million

Term Lengths: 10, 15, 20, 25, and 30 years

Medical Exam: Often not required for healthy applicants under 60

Best For: Tech-savvy individuals who want fast, hassle-free coverage

What stands out: Haven Life's application can be completed online in minutes, and many applicants receive an instant decision. You also get free perks like a digital will and fitness discounts through the Haven Life Plus program.

Why we like it: Banner Life consistently offers some of the lowest rates in the industry, especially for longer terms and higher coverage amounts.

Coverage Amounts: $100,000 to $10 million

Term Lengths: 10 to 40 years

Medical Exam: Typically required

Best For: People who prioritize affordability over digital features

What stands out: Banner Life allows you to renew or convert your term policy to permanent insurance, offering flexibility as your needs change over time.

3. State Farm – Best for Personalized Agent Support

Why we like it: State Farm is renowned for its top-tier customer service and nationwide network of local agents, perfect for those who prefer in-person guidance.

Coverage Amounts: $100,000+

Term Lengths: 10, 20, and 30 years

Medical Exam: Often required

Best For: Seniors or those new to insurance who want help from a local agent

What stands out: State Farm has earned consistently high ratings for customer satisfaction. Its "Select Term" policies are customizable and convertible to whole life.

4. Bestow – Best for No-Medical-Exam Policies

Why we like it: Bestow uses advanced algorithms to underwrite policies instantly, without requiring any medical exams or blood tests.

Coverage Amounts: $50,000 to $1.5 million

Term Lengths: 10, 15, 20, 25, and 30 years

Medical Exam: Never required

Best For: Healthy individuals aged 18–60 who want quick approval

What stands out: Bestow’s lightning-fast application process and full transparency on pricing make it a great choice for busy professionals.

5. Northwestern Mutual – Best for Financial Strength

Why we like it: With an A++ rating from AM Best, Northwestern Mutual is one of the most financially stable life insurers in the U.S.

Coverage Amounts: Varies; typically requires consultation

Term Lengths: Customizable

Medical Exam: Required

Best For: High-net-worth individuals who value long-term planning

What stands out: Though more traditional and less digital than other providers, Northwestern Mutual offers strong customer service and seamless term-to-permanent conversions.

6. Protective Life – Best for Long-Term Coverage

Why we like it: Protective offers term life insurance coverage for up to 40 years—longer than most competitors.

Coverage Amounts: $100,000 to $50 million

Term Lengths: 10 to 40 years

Medical Exam: Usually required

Best For: Young adults who want long-lasting, affordable protection

What stands out: Protective’s term policies are among the most competitively priced, and you can easily convert them into permanent insurance later.

7. Ethos – Best for Ease of Use

Why we like it: Ethos provides a sleek, user-friendly experience, allowing many applicants to get insured in just 10 minutes—with no phone calls or paperwork.

Coverage Amounts: $20,000 to $2 million

Term Lengths: 10 to 30 years

Medical Exam: Often not required

Best For: Millennials and Gen Z buyers looking for simplicity

What stands out: Ethos stands out for its transparency, speed, and no-pressure buying process. It’s ideal for those new to life insurance.

8. Mutual of Omaha – Best for Seniors

Why we like it: Mutual of Omaha is especially accommodating to older applicants, with simplified underwriting and solid coverage options for those over 60.

Coverage Amounts: $100,000 to $1 million

Term Lengths: 10, 15, 20, and 30 years

Medical Exam: May not be required for smaller policies

Best For: Older adults who want straightforward term coverage

What stands out: Mutual of Omaha’s flexible underwriting and strong reputation among seniors make it a trusted choice for late-in-life protection.

How to Choose the Best Term Life Insurance for You

When shopping for term life insurance, keep these key factors in mind:

Length of Term: Choose a term that covers your major financial responsibilities—like mortgage payments or child-rearing years.

Coverage Amount: Aim for 10–15 times your annual income or enough to cover your family’s living expenses, debts, and future goals.

Health & Lifestyle: Your age, health history, and even hobbies can impact pricing and eligibility.

Medical Exam Requirements: Some insurers offer no-exam policies, but they may come at a slightly higher cost.

Final Thoughts

The best term life insurance company for you depends on your age, health, budget, and whether you prefer a traditional or tech-forward experience. Whether you're looking for the lowest premiums, quick approval, or strong customer support, the 8 companies above offer some of the most trusted and competitive options available in April 2025.

Life can be unpredictable, but the right term life insurance can ensure that your loved ones stay financially secure—no matter what the future holds.