SUCCESS

Key Takeaways

Travel Guard and Allianz Travel rank among the best travel insurance companies, offering a mix of comprehensive coverage and reliable service. Other top picks stand out for specialized benefits like high coverage limits and flexible plans.
Travel insurance can reimburse costs tied to lost luggage, missed flights, trip cancellations and emergency medical expenses.
It’s best to purchase travel insurance right after booking a trip to maximize coverage options and eligibility.
Methodology: We reviewed travel insurance quotes for a family of four traveling from New York City to London and evaluated each company based on plan variety, coverage options, reputation, customer service and support and ease of use.

Travel insurance can help limit your financial losses when trips don’t go as planned. From unexpected medical bills abroad to canceled flights and lost baggage, the right policy can save travelers from paying thousands out of pocket.
Policies vary widely in what they cover and how much they pay out, making it especially important to compare providers before you buy. Below, we highlight the best travel insurance companies based on coverage, cost and how well each insurer supports travelers when plans go sideways.

How we chose our top picks
To select our top picks, our team vetted 15 companies after conducting 1,000+ hours of research based on 15+ data points. We read the fine print on travel insurance plans and compared coverage options and prices to determine which insurers offer coverage that could meet the needs of specific groups.
Read the full methodology to learn more.
Our Top Picks for the Best Travel Insurance

Travel Guard – Best for Add-Ons
Allianz Travel – Best for Business Travel
HTH Worldwide – Best for Long-Term Insurance for International Travel
Seven Corners – Best for Large Groups
Travelex – Best for Families with Children
World Nomads – Best for Adventure Sports Coverage

Pros

Lodging expense benefit

Trip saver and exchange specialized coverage included

A child 17 and under is covered per insured

Covers trips to Cuba if the traveler provides additional documentation

Cons

High cost of premiums

Most add-ons are not available for the basic plan

HIGHLIGHTS

Age restrictions
Insures travelers of all ages

Coverage add-ons
CFAR, waiver for pre-existing conditions and extra medical coverage

AM Best rating
A

Why we chose it: We chose Travel Guard (formerly AIG Travel Guard) as the best travel insurance for add-ons because it offers travelers a wide variety of coverage options to customize their plans. Travel Guard is now part of Zurich Cover-More, following Zurich Insurance Group’s acquisition of AIG’s global personal travel insurance business in 2024.
Travel Guard offers unique services such as MedEvac and Bag Trak® as well as coverage options few (if any) other insurers offer: a pet bundle, a wedding bundle (for canceled weddings) and an inconvenience bundle in the event any attractions you wanted to visit are closed.
Travel Guard’s post-departure benefits also cover you if your travel companion cancels unexpectedly and you have to cover the trip’s expenses yourself. Lastly, there’s a Pack N’ GO Plan for last-minute trips which includes post-departure coverage and 24-hour emergency travel assistance.

Pros

Annual plan geared toward frequent business travelers

Allianz TravelSmart App for travel alerts, claims filing and assistance

Cancel Anytime upgrade reimburses up to 80% of nonrefundable trip costs on eligible plans
24-hour multilingual assistance hotline

Free coverage for kids 17 and under on select plans (not available for Pennsylvania residents)

Cons

Lower emergency medical coverage than some competitors
Cancel Anytime eligibility requirements may be restrictive

HIGHLIGHTS

Age restrictions
Insures travelers of all ages

Coverage add-ons
Rental car collision/loss, cancel anytime, cancel for work, pre-existing conditions waiver

AM Best rating
A+

Why we chose it: Allianz Travel is our choice for the best travel insurance for business trips because its annual plan offers comprehensive coverage that includes trip cancellation and interruption, emergency medical and transportation, rental car damage and theft, and business equipment protection.
Allianz offers a range of travel insurance plans, from basic cancellation coverage to comprehensive multi-trip protection. All plans include a 24-hour multilingual assistance hotline and the TravelSmart App, which gives quick access to travel advisories, local medical facilities, mobile claims filing and more.
Allianz also stands out for its Cancel Anytime upgrade, which can reimburse up to 80% of nonrefundable trip costs on eligible plans. Travelers must meet certain requirements, such as purchasing within 14 days of the initial trip deposit. Another one of Allianz’s highlights is its lack of age restrictions (most other insurers limit coverage by age). Some of its plans also cover kids 17 and under traveling with a parent or grandparent.

Pros

Travel medical insurance for groups of five or more
International expatriate comprehensive coverage

Passport app to find doctors, pharmacies, and translations of drug names
Pet medical expense coverage

Cons

12-hour wait for bag delay coverage (24 hours under the economy plan)

“Cancel for any reason” option is only offered in the Preferred plan

Eligibility for the multi-trip plan requires primary health insurance

HIGHLIGHTS

Age restrictions
Insures travelers up to 95 years of age

Coverage add-ons
CFAR and International Expatriate Travel coverage

AM Best rating
A (Nationwide)

Why we chose it: HTH Worldwide is our choice for the best travel insurance for long-term international travel because it offers specialty coverage for expats and students.
HTH’s long-term international health insurance options include policies for expatriates, crew missionaries and students. Benefits include no deductible for office visits, no waiting periods for preventive care services and no waiting period for pre-existing conditions with proof of prior coverage.
HTH Worldwide also offers international health insurance for students with flexible trip duration options. This plan has unlimited annual and lifetime medical care maximums, includes supplies and prescriptions and covers medically necessary COVID-19 testing and treatment.
Other global health and safety services available through HTH Worldwide include 24/7 call assistance, access to elite international doctors and hospitals, and translated medical terms.

Pros

Coverage from five up to 364 days

Allows coverage extensions

Website includes sample scenarios to illustrate how the coverage works

Cons

Hazardous activities not included in coverage (add-on only)

Different plan options for WA, NY, PA, and MO residents

HIGHLIGHTS

Age restrictions
Insures travelers 14 days of age to 100 years old

Coverage add-ons
CFAR, Interruption for Any Reason, Event Ticket Registration Fee

AM Best rating
A+ (United States Fire Insurance Company)

Why we chose it: We chose Seven Corners as the best travel insurance for large groups because it insures parties of 10 or more travelers through comprehensive policies that cover medical expenses and evacuations.
Seven Corners’ simple and budget-friendly Trip Protection Choice plan covers trip cancellation, interruption or delays for specific reasons, including COVID-19 for groups of 10 or more. Its emergency medical protection goes up to $500,000 and offers up to $1,000,000 for medical evacuation and repatriation of remains.
In addition to its group trip travel insurance plans, Seven Corners has three travel medical plan tiers with comprehensive medical coverage for emergency room visits, hospital room and board, and onset of pre-existing medical conditions. These plans include 24/7 multilingual customer service.

Pros

Flight insurance plans available

Pre-existing conditions waiver

Several upgrades available

Cons

Customer service has limited operating hours
No annual or multi-trip plans

HIGHLIGHTS

Age restrictions
Insures travelers of all ages

Coverage add-ons
Pre-existing conditions waiver, adventure sports, accidental death and dismemberment, CFAR, car rental collision, additional medical coverage

AM Best rating
A+ (Zurich Insurance Group)

Why we chose it: Travelex is our choice as the best travel insurance for families with children because it offers plans that cover family members under 17 at no additional cost.
Travelex Insurance Service features three main plans for international trips: Advantage, Ultimate and the low-tier Essential plan for budget-conscious travelers. Essential includes key benefits like cancellation and trip interruption, baggage theft or loss and medical expenses. It also offers six optional upgrades including rental car damage, adventure activities and pet care.
Advantage is an affordable plan for students, backpackers, small groups or those on a budget. These plans cover trip cancellation and interruption at 100% of the trip cost and offer up to $2,000 for trip delays or missed connections.

Pros

Emergency medical coverage up to $250,000 (Epic plan)

Option to add Cancel for Any Reason (CFAR) coverage on Explorer and Epic plans
24/7 emergency support (Generali Global Assistance)

Cons

Does not cover pre-existing conditions

CFAR coverage is only available as an add-on on select plans
Trip Cancellation/Interruption coverage may be lower compared to other providers ($2.5K-$15K)

HIGHLIGHTS

Age restrictions
Insures travelers under 70 years of age

Coverage add-ons
None

AM Best rating
A+ (United States Fire Insurance Company)

Why we chose it: World Nomads is the best travel insurance for travelers who enjoy adventure sports because it covers over 250 sports and adventure activities, including many activities often excluded by other insurers.
Its Standard, Explorer and Epic plans include coverage for activities like scuba diving, skiing and surfing, along with benefits such as emergency medical coverage, emergency evacuation, trip cancellation and lost luggage or theft protection. Coverage limits vary by plan offering up to $250,000 in emergency medical coverage.
While most companies don’t let you purchase or extend coverage during the trip, World Nomads offers a rare alternative; individuals who didn’t purchase coverage before their trip can enroll in the company’s “Buy While Traveling” plan. Those who already purchased a policy can also extend their coverage to keep exploring.

Other travel insurance companies we considered
In this section, we feature popular companies that didn’t make our top picks. While these providers may not have ranked highest in our categories, they offer coverage options that may be a good fit for certain travelers.
TravelInsurance.com
Why it didn’t make the cut: TravelInsurance.com is a travel insurance comparison platform, not a direct insurer. That said, it’s a great tool for users who want to compare plans from top travel insurance providers quickly and easily. Users can input their trip details and receive personalized quotes based on the travelers’ ages and the duration and cost of the trip.
Tin Leg
Why it didn’t make the cut: Tin Leg has no coverage for rental car damage, limited customer service hours and limited baggage and personal effects coverage, even with the premium plan. On the plus side, some policies cover financial default and employment layoff, and the company also offers a rider to cover sports activities and equipment as well as a rider to cover cancellations for medical and work reasons.
Berkshire Hathaway Travel Protection
Why it didn’t make the cut: Berkshire Hathaway didn’t make our list of the best providers because its medical expense maximums are lower than those of competitors. Additionally, the basic plan does not include missed connection or accidental death and dismemberment coverage. Berkshire Hathaway stands out from competitors in one respect: its AirCare plan offers unique flight protection that monitors your flights and processes reimbursements automatically, so you don’t even need to file a claim.
Travel Insurance Guide
Travel insurance reimburses you if you need to cancel or interrupt your trip early. It can also pay for stolen or lost baggage and medical expenses if you get sick or injured during the trip.
Read on to learn how travel insurance works and tips on how to select the right type of coverage.
What does travel insurance cover?
Comprehensive travel insurance covers common travel issues and mishaps, from accidents to baggage delays.
The following are standard coverage options and add-ons.

Trip cancellation insurance refunds up to 100% of prepaid, non-refundable travel costs if you cancel an upcoming trip for covered reasons.
Trip interruption coverage reimburses you for the unused portion of the trip and any expenses you may incur to get back home. Covered events include natural disasters and medical emergencies. Insurers typically cap reimbursement at 150% of the cost of the trip.
Travel delay coverage reimburses you (up to the policy’s coverage limits) for extra expenses such as meals or lodgings during a flight delay. It may also cover airport delays and any flight change fees necessary to catch up on your travel plans.
Baggage and personal effects coverage refunds you the cost of replacement items if your luggage is lost or delayed during your trip, typically up to $2,500. You must wait a predetermined number of hours before filing a claim and submit purchase receipts or a list of items in your luggage. Coverage may be subject to a deductible.
Emergency medical evacuation coverage reimburses you if you need to be evacuated to the nearest medical facility or to a facility in your country of origin. Maximum benefits usually range between $100,000 and $500,000 but can be as high as $1 million.
Emergency travel medical insurance reimburses you for medical expenses incurred during your trip under certain circumstances. Coverage amounts for medical expenses can range from $15,000 to $50,000. Coverage may apply even if you’re pregnant while traveling.
Worldwide assistance offers 24/7 customer service should you need assistance while traveling. This includes multilingual medical hotlines that can provide medical advice and refer you to local healthcare services.

Popular travel insurance add-ons

Cancel for any reason coverage

CFAR coverage allows you to cancel your travel plans for any reason and get reimbursed for 50% to 75% of pre-paid, non-refundable expenses.

Pre-existing medical condition waiver

Adds coverage for pre-existing medical conditions. Travelers must select this option within a certain number of days after making their initial trip deposit.

Rental car insurance

Covers theft of or damages to a rental car due to causes beyond your control (think collisions, vandalism and weather events).

Adventure sports coverage

Covers injuries or losses caused by participating in adventure sports such as skydiving or bungee jumping.

Identity theft protection

Helps you notify creditors, cancel your cards, and get a replacement for your lost passport, credit card or other important documents.

What does travel insurance not cover?
The most common exclusions in a travel insurance policy are:

Pre-existing medical conditions
Injuries that happen while you’re intoxicated with drugs or alcohol, even if the intoxicating substance is legal to use at the destination
“Foreseeable events” such as epidemics and pandemics that are officially declared by federal or international health agencies. (Insurance claims related to COVID-19 illness may be covered)
Missed flights, where the traveler is at fault
Injuries caused by extreme sports
Theft/loss of personal items such as electronic devices and jewelry
Pregnancy-related conditions

How much does travel insurance cost?
The cost of travel insurance can range from 4% to 10% of the total cost of your trip and depend on:

Your age
Your travel destination
The length of your trip
The types of travel insurance benefits and policy limits you select

Total trip cost

6% of trip cost (estimated travel insurance cost)

$1,000

$60

$1,500

$90

$2,600

$156

$3,200

$192

$5,000

$300

* Insurance for a $2,200 trip for a family of four ranged from $90 to over $300, based on 6% of trip costs.
How much travel insurance do I need?
Before buying travel insurance, consider what losses you would incur if you were forced to cancel the trip because of an unexpected setback or medical emergency.

Non-refundable travel expenses: These include flight tickets, lodging reservations, pet care accommodations, travel activities like guided tours, and transportation expenses booked in advance.
Potential medical emergencies: Travelers may need medical care abroad due to injuries, endemic illnesses and other health emergencies. Some travel insurers recommend a minimum of $50,000 in emergency medical coverage for international trips and $100,000 for cruises and trips to remote locations.
Additional coverage needs: Travelers who engage in adventure sports may need a rider to ensure medical coverage if they get injured. These sports are usually excluded from trip insurance policies.

Is travel insurance worth it?
Travel insurance could be worth it in specific situations. Before buying a policy, consider the following scenarios.

You may want travel insurance if:

You may not need travel insurance if:

You’ve pre-paid for high-cost, non-refundable expenses like tours, concerts or sporting events.

You’re traveling domestically and have alternate coverage (car insurance, medical insurance that covers you across state lines, and a credit card that offers travel benefits).

You’re traveling internationally and need coverage for medical emergencies and evacuation.

You can get reimbursed for trip expenses, especially costly ones.

You’re visiting an area where weather is unpredictable or there is political unrest.

You’re going on a short and relatively low-risk trip.

You plan to participate in high-risk activities such as skiing or scuba diving.

You can afford to cover emergency expenses out of pocket.

How to get travel insurance
You can buy travel insurance after booking a flight. However, it’s advisable not to delay obtaining a policy. The longer you wait between your initial trip payment and purchasing trip insurance, the greater the chance you’ll miss out on valuable add-ons like coverage for pre-existing conditions and CFAR upgrades.
The best time to purchase travel insurance coverage is right after you’ve booked your trip’s costliest non-refundable expenses, such as flight tickets and lodging.
1. Define your travel insurance needs
Consider your reasons for traveling, including who’s going with you and your planned activities. Also, note how long you’ll be away. You may need an annual travel insurance plan for long trips, which can narrow down your choice of providers.
Business travel insurance is suitable for frequent travelers who need coverage for items like work laptops and phones. Students in overseas programs may want to look into a plan like Trawick International Insurance.
2. Review the policy limits
Each travel insurance benefit has a specific payout limit, which may or may not be enough for your particular situation. For example, individuals traveling with expensive personal belongings such as sports equipment, cameras or jewelry may want a higher payout limit for personal effects or riders for high-value items.
3. Check the policy’s fine print
Before finalizing any document, make sure the trip insurance policy you’re interested in covers the activities you have planned, especially if there are recreational sports involved.
Travelers with pre-existing medical conditions should also confirm whether those are covered under their policy. If not, they may need to look for a different provider or purchase supplemental medical coverage.
Take a moment to check if emergency assistance services are available 24/7 and what kind of assistance you can expect should you have a medical emergency or your belongings be stolen.
4. Compare travel insurance quotes
We recommend getting insurance quotes through comparison sites and marketplaces such as InsureMyTrip.com or SquareMouth Travel Insurance. Even if you’re traveling on a tight budget, you can still find cheap travel insurance that will cover the essentials, such as medical expenses and personal effects.
Consider the following when comparing quotes:

Affordability
Maximum payout limits for baggage loss or theft
Minimum wait time before you can file a claim for baggage loss and trip delays
Policy terms regarding pre-existing medical conditions
Maximum payout limits for medical expenses and emergency evacuation
Available add-ons such as “Cancel for Any Reason”

Credit card travel insurance
Many credit cards offer flight insurance and travel protection for lodging and luggage if you use the card to pay for these trip expenses. That being said, if you compare credit card travel coverage with travel insurance, you’ll see that most credit cards lack medical expenses and emergency evacuation coverage.
Read our guide to the best travel credit cards for more information on how your credit card can help you travel smarter.
Methodology
As part of our methodology, we obtained travel insurance quotes from the online comparison site Travelinsurance.com using the following profile:

Family of four traveling from New York City to London
$2,200 on flight tickets for all four travelers

We then reviewed the available plans and looked at the following factors to evaluate and compare each company:

Plans and coverage: We looked for insurers with a variety of plans and the ability to customize the policy with unique add-ons, such as coverage for extreme sports and lost gear or equipment.
Reputation: To gauge each company’s reputation, we evaluated factors such as customer feedback and ratings, years in business and financial stability as evidenced by AM Best financial strength ratings.
Customer service and support: We rated companies higher for having a 24/7 hotline, a global emergency network, mobile apps, multiple customer support options, and perks like concierge and translation services.
Ease of use: We considered how easily you could get a quote and understand the policy information. Most of our top picks offer just a few plans to keep things simple or provide a comparison page where you can quickly spot the differences in each plan.

Latest News in Travel Insurance
Recent flight disruptions caused by geopolitical events, civil unrest and operational issues have highlighted both the value and limitations of travel insurance. While these types of travel disruptions can leave travelers stranded or facing unexpected expenses, standard travel insurance policies often exclude disruptions caused by acts of war, terrorism or civil unrest.
The federal government is funded through Dec. 11 under a stopgap spending bill signed Sept. 2, easing near-term concerns about another shutdown after a record partial shutdown earlier this year led to long lines at TSA. If you’re booking holiday travel, keep in mind that standard travel insurance generally won’t reimburse you for missing a flight because of long TSA lines. Coverage varies by insurer and policy, so it’s important to review exclusions before purchasing.
Travelers looking for broader flexibility may want to consider Cancel for Any Reason (CFAR) coverage, an optional upgrade that allows policyholders to cancel trips for reasons not otherwise covered by traditional travel insurance policies. According to an analysis of more than 2,700 customer calls and inquiries from SquareMouth Travel Insurance, interest in CFAR coverage has grown as travelers seek more flexibility and a better understanding of how many disruptions fall outside standard policy protections. However, these plans come at a cost. Comprehensive travel insurance can cost 4-10% of your total trip cost, while policies with CFAR coverage can cost as much as 6-18% of the total trip price.
It’s wise to keep receipts of delay-related expenses such as extra nights at a hotel, meals and ground transportation costs, and file a claim. You may be reimbursed if your delays are caused by secondary issues such as mechanical failures and limited aircraft inventory.

Travel Insurance FAQs
Do I need travel insurance?
Travel insurance can provide invaluable peace of mind, especially for international trips with non-refundable expenses. It acts as a financial safety net for unforeseen events, covering flight expenses, medical bills and reservation costs if you get sick or need to cancel or interrupt your trip. However, if your credit card offers travel insurance, additional coverage may be unnecessary.
When should I buy travel insurance?
The best time to buy travel insurance is right after booking your trip’s costliest nonrefundable expenses, such as flights and lodging. Buying early can preserve eligibility for benefits such as pre-existing condition waivers and Cancel for Any Reason coverage, which often have purchase deadlines tied to your initial trip payment.
When is it too late to buy travel insurance?
Once you depart, you typically can’t buy travel insurance. Coverage may be available up to 24 hours before departure, but specifics vary by provider. Last-minute policies cover basics like trip interruptions, delays, medical emergencies and baggage loss, but exclude benefits like “cancel for any reason,” “trip interruption for any reason” and pre-existing condition waivers.
What is a pre-existing condition for travel insurance?
A pre-existing condition is an illness, injury or medical condition you had symptoms of, received treatment for or were tested for before buying travel insurance. Look-back periods typically range from 60 to 180 days, but definitions vary by policy. Some plans may offer a waiver if you buy coverage soon after your initial trip payment and meet other requirements.
How long do travel insurance claims take to process?
Travel insurance claims can take several weeks to process, although timelines vary by insurer, claim type and whether you provide all required documentation. Submitting the correct claim form and all required documents upfront can help avoid delays. Some companies also set deadlines for reporting claims, too. For example, Allianz Travel asks policyholders to file a claim within 90 days of the date of loss.

Summary of Money’s 6 Best Travel Insurance Companies of October 2026

Travel Guard – Best for Add-Ons
Allianz Travel – Best for Business Travel
HTH Worldwide – Best for Long-Term Insurance for International Travel
Seven Corners – Best for Large Groups
Travelex – Best for Families with Children
World Nomads – Best for Adventure Sports Coverage

For many households, life insurance provides an essential safety net. Yet only about half of U.S. adults currently have some form of life insurance, and roughly 40% say they need more life insurance. At the same time, individual life insurance premiums reached a record $17.5 billion in 2025, showing the demand for coverage remains strong.
Life insurance can help protect the people who depend on you financially, but figuring out which plan to buy can feel overwhelming. Policies vary widely in price, coverage types and complexity, and some insurers are better suited for certain needs than others.
This guide breaks down the best life insurance companies to consider right now, including picks for fast online approval, flexible coverage and bundling discounts.

Key Takeaways

Ethos, Lantern and Ladder lead our list of the best life insurance companies for their mix of flexible policy options, strong financial strength ratings, responsive customer services and transparent terms.
Life insurance pays a lump sum (called a “death benefit”) to your loved ones if you die, helping cover major expenses such as funeral costs and housing.
You pay premiums to keep coverage active — typically monthly, quarterly, annually or as a one-time payment — in exchange for coverage that provides a payout to your beneficiaries.
Life insurance policies generally fall into two categories: term life insurance and permanent life insurance (such as whole or universal life), so it’s important to compare coverage options, riders and quotes to find the best fit.
Methodology: We reviewed more than 30 life insurance companies across six scoring categories, including product offerings, financial strength ratings, customer satisfaction scores and complaint data, supported by over 1,000 hours of research.

How we chose our top picks
Since 2017, Money’s editorial team has researched and analyzed life insurance providers and their policy options. Our ongoing assessment focuses on insurers’ offerings, customer satisfaction ratings and financial stability. For our complete methodology, click here.

30+ insurers evaluated
6 categories scored
1,000+ hours of research

Our Top Picks for the Best Life Insurance Companies of October 2026

Ethos – Best for Same-Day Coverage
Lantern – Best for Instant Term Life Quotes Online
Ladder – Best for Flexible Coverage
Nationwide – Best for Bundling Discounts
New York Life – Best Whole Life Insurance
Northwestern Mutual – Best for Policy Customization
Policygenius – Best Online Life Insurance Broker
State Farm – Best for Customer Satisfaction and Stability

Pros

Same-day coverage for most approved applicants

No exams — the process is entirely online

Get a free will with your policy

Policy purchase includes free will, estate planning tools and AI-driven financial planning

Cons

Little information publicly available about optional riders

Term life eligibility starts at age 20

Not available in New York

HIGHLIGHTS

AM BEST RATING
A (Excellent) and higher – Mutual of Omaha, Ameritas and TruStage, Banner Life Insurance Company (formerly Legal & General America)

POLICY TYPES
Term – simplified issue and fully underwritten (ages 20 to 65), guaranteed issue (ages 65 to 85)

RIDERS AVAILABLE
Accidental Death Benefit

Why we chose it: Ethos is our top choice for same-day life insurance coverage due to its streamlined application process and ability to accommodate a diverse range of applicants. Individuals aged 20 to 65 can secure term life coverage for 10 to 30 years with coverage amounts ranging from $20,000 to $3 million. Most applicants can skip the medical exam.
Meanwhile, those aged 65 to 85 qualify for guaranteed issue whole life policies, which offer coverage from $10,000 to $25,000 without a medical exam. These policies offer graded benefits for the first two years, providing beneficiaries with 100% of premiums paid plus 30% in case of death within this period, excluding accidental deaths.
Read our full Ethos Life Insurance review

Pros

Ages 18 to 60 are eligible to apply
Term life policies $100,000 – $1.5 million in coverage
Company offers 10, 15, 20, 25, and 30-year terms
Monthly premiums as low as $10

Cons

No riders available

Only sells term life insurance

Policies not available to residents of New York and Maine

HIGHLIGHTS

AM BEST RATING
A+ Rating (Superior) – North American Company for Life and Health Insurance

POLICY TYPES
Term life insurance

RIDERS AVAILABLE
None

Why we chose it: Lantern provides a quick and convenient way to compare term life insurance options online. Using your personal information — such as medical history, hobbies and lifestyle — it determines eligibility and rates efficiently. You can purchase up to $1.5 million in term life coverage within minutes. Policies are issued by Lantern Life Insurance Company directly through the company’s website.
Read our full Lantern Life Insurance review

Pros

Term coverage can be adjusted over time
$100,000 to $8 million in term coverage available
30-day free look period, rather than the 10-day norm
Up to $3 million in coverage with no medical exam

Cons

Plans are limited to people aged 20 to 60

Only offers term coverage

No optional riders

HIGHLIGHTS

AM BEST RATING
A (Excellent) to A+ (Superior) – Amica, Allianz, Fidelity Security Life Insurance, S.USA Life

POLICY TYPES
Term Life, No-Exam

RIDERS AVAILABLE
None

Why we chose it: We picked Ladder as the best life insurance company for flexible coverage because it allows you to increase or decrease the amount of coverage on your policy as your needs change. Ladder exclusively offers term life insurance if you’re 20-60 years old, and by completing a simple three-step online application, policyholders can access up to $3 million in coverage. Ladder doesn’t charge cancellation fees, so you can cancel your coverage at any time with no strings attached.
Read our full Ladder Life Insurance review

Pros

Discounts for bundling life with homeowners or auto insurance
Multiple insurance plans and optional riders

Cons

Most policies must be purchased through agents

HIGHLIGHTS

AM BEST RATING
A+ (Superior)

POLICY TYPES
Term, Whole, Universal, Variable

RIDERS AVAILABLE
12, including long-term care, chronic Illness, critical illness, terminal illness, children’s term insurance, premium waiver, waiver of monthly deductions and accidental death benefit

Why we chose it: Nationwide is our pick for the best life insurance company for bundling discounts because policyholders can save on life insurance by combining this coverage with other types of insurance, such as auto and homeowners insurance, long-term care insurance, renters insurance or pet insurance. Nationwide writes term, whole life, variable and universal policies, and has several optional riders you can use to adjust your policy to your needs.
Read our full Nationwide Life Insurance review

Pros

Multiple term, whole and universal life policies available

Highly rated company
Potential to earn dividends

Cons

Must work with an agent
Can’t get an online quote

HIGHLIGHTS

AM BEST RATING
A++ Rating (Superior)

POLICY TYPES
Term, Whole, Universal, Variable Universal

RIDERS AVAILABLE
Accidental death, chronic care, disability waiver of premium, living benefits, spouse’s paid-up insurance purchase option and more

Why we chose it: We picked New York Life as the best life insurance company for whole life coverage because it offers various permanent policies. Its term life policy also includes the option to convert to permanent coverage down the road. The company offers lifetime coverage and various policy options like whole, universal and variable universal life insurance. You can tailor your plan with add-ons such as an accidental death benefit, chronic care and living benefits riders. As a mutual insurance company, the insurer allows policyholders to potentially receive dividends based on their policy type.
Read our full New York Life Insurance review

Pros

Great selection of optional riders
Multiple policy and coverage options
Potential to earn dividends

Highly rated by third parties

Cons

Policies must be purchased through agents
Medical exams required for most policies
Limited online quote tools

HIGHLIGHTS

AM BEST RATING
A++ Rating (Superior)

POLICY TYPES
Term, Whole, Universal, Variable

RIDERS AVAILABLE
Accelerated death benefit, accidental death, waiver of premium, indexed protection, additional purchase and long-term care benefit

Why we chose it: Northwestern Mutual is our top choice for life insurance customization because it offers more riders than most other insurers, allowing greater policy flexibility. Insurance riders allow you to get coverage for loved ones, access your benefits under special circumstances or waive your premiums if you become ill. As a mutual insurer, it also pays dividends to eligible policyholders.
Northwestern Mutual is a reputable company that’s usually listed at the top of the life insurance industry rankings. It ranked above the industry average in J.D. Power’s 2025 U.S. Individual Life Insurance Study and has received fewer National Association of Insurance Commissioners (NAIC) complaints than similarly-sized companies.
Read our full Northwestern Mutual Life Insurance review

Pros

Quickly and easily compare quotes from multiple insurers

Get guidance from real licensed agents
Various types of insurance policies available

Cons

Online quotes aren’t available for all providers

Takes longer to provide a final price than other options

HIGHLIGHTS

AM BEST RATING
No AM Best rating

POLICY TYPES
Term, Whole, Universal, No-exam

RIDERS AVAILABLE
Varies by carrier

Why we chose it: We chose Policygenius as the best online life insurance broker for its one-stop access to policies from many top insurers and its commitment not to sell your information to third parties, unlike other comparison sites.
The platform offers a wide range of term life insurance policies from 10 to 40 years in five-year increments, as well as whole, universal and no-exam options. Users can quickly obtain premium estimates by entering basic personal information and then delve into policy comparisons by providing additional details. Policygenius also hosts a wealth of educational resources for those new to life insurance and provides personalized assistance from licensed insurance agents.
Read our full Policygenius review

Pros

Top-rated for customer satisfaction
Low number of customer complaints
Long list of optional riders
Simplified-issue (no exam) policies available

Cons

Online quotes are not available for all policy options
Most policies require medical exams

HIGHLIGHTS

AM BEST RATING
A+ (Superior)

POLICY TYPES
Term, No-exam, Whole, Universal

RIDERS AVAILABLE
More than 12, including children’s term life insurance, waiver of premium benefit, level term life insurance, waiver of monthly deduction, guaranteed insurability option, payor insurance benefit and accelerate benefit for long term care

Why we chose it: State Farm is our choice for the best life insurance company for customer satisfaction and stability due to its excellent reputation for customer service. In the last five years, State Farm has earned the top spot in J.D. Power’s U.S. Individual Life Insurance Study, except in 2025, where it placed second by a small margin. The insurer also holds an A+ (Superior) rating from AM Best, indicating excellent financial stability.
State Farm sells term life insurance (10, 20 or 30 years), plus whole and universal life insurance policies. Although most of its plans require medical exams, it does offer no-exam options as well as a long list of optional riders.
Read our full State Farm Life Insurance review

Other life insurance companies we considered
The following companies have competitive offerings but aren’t among our top picks because they didn’t excel in one of several of our criteria.

Amica Mutual
Amica Mutual stands out as a top choice for property and casualty insurance. It recently earned the highest ranking in the J.D. Power U.S. Insurance Digital Experience Survey and is among the best homeowners insurers we’ve evaluated, offering comprehensive coverage and unique features.
Why Amica didn’t make the cut: Despite its strong reputation in other insurance areas, Amica’s life insurance products are relatively unknown. The insurer isn’t included in J.D. Power’s U.S. Life Insurance Study and lacks NAIC complaint data. That being said, Amica offers affordable term life coverage (10-, 20-, and 30-year policies ranging from $11 to $25 per month), but has a limited selection of policies.
Read our full Amica Life Insurance review

Lemonade
Lemonade offers term life insurance with no medical exam. Customers can complete the full online application in around five minutes and purchase 10- to 40-year term policies with up to 1.5 million in coverage. Policyholders must download Lemonade’s mobile app to manage their policy, submit claims and access customer service.
Why Lemonade didn’t make the cut: The company didn’t make our top picks due to its limited insurance offerings and lack of detailed information about riders and policies on its website.

MassMutual
MassMutual’s insurance portfolio includes term and permanent life insurance, including a term life policy that can be purchased online. Customers can also convert their term life insurance to a permanent policy without a medical exam. MassMutual features a life insurance calculator to help prospective clients assess their insurance needs.
Why MassMutual didn’t make the cut: Unlike other insurers on top list, MassMutual offers few optional riders, so customers have limited options for policy customization.
Read our full MassMutual Life Insurance review

USAA
USAA offers various life insurance options, including term and permanent coverage. Policies start at $12 a month and coverage amounts go up to $10 million. Additionally, policyholders receive complimentary survivor assistance and the option for disability protection. There’s also simplified whole life coverage available for children.
Why USAA didn’t make the cut: The company’s website lacks comprehensive information about available riders and cash value policies. To learn more, you must speak to a USAA representative over the phone.
Read our full USAA Life Insurance review

What You Need to Know About Life Insurance
Younger Americans often overestimate the cost of life insurance, which can keep them from getting coverage. The 2026 Insurance Barometer Study from LIMRA and Life Happens found that healthy adults under 30 estimated the cost of a typical term life insurance policy at five to six times its actual cost. Meanwhile, 38% of U.S. adults — approximately 92 million people — say they need life insurance or more coverage than they currently have.
In reality, life insurance costs vary based on factors like policy type, coverage amount, term length, age, health and lifestyle. Drinking, smoking and high-risk activities lead to higher premiums, as do chronic health conditions and risky occupations like roofing or construction.
Types of life insurance policies
Life insurance is a contract where the insurer promises to pay a death benefit to the policy’s beneficiary upon the policyholder’s death. This benefit is funded by the policyholder’s lifetime premium payments.
Life insurance policies fall into two main categories:

Permanent life insurance – Policies last your entire life and may have a cash value component that can be accessed for various purposes. Learn more about permanent policies through our guides on whole life insurance, universal life insurance, variable life insurance and joint life insurance.

Term life insurance – Provides coverage for a set number of years — anywhere from 10 to 40 — and does not include a cash value (final expense insurance falls in this category). Read more about this option on our term life insurance guide.

For term or whole life coverage without a medical exam, consider a simplified or guaranteed issue policy. Read more about this option on our guide to no-exam life insurance.
How to compare life insurance policies
When comparing the best life insurers, consider the following factors.

Policy types: Check if the insurer offers both term and permanent life insurance options. Some newer insurers, especially those online, may focus on term life and guaranteed-issue policies.
Application process: Determine if the application is entirely online or if you need to work with an agent during underwriting.
Medical exam requirements: Understand whether a medical exam is necessary. Some companies offer no-exam life insurance.
Riders: Check if the policy can be enhanced with riders. Some companies include riders in the policy, while others sell them separately. Availability varies.
Coverage: Note the minimum and maximum coverage amounts offered. These can vary significantly among insurers.
Pricing: Compare life insurance premiums from different insurers. Prices vary based on how they assess risk. It’s best to get quotes from multiple companies.
Company reputation: To ensure the company is reputable, check AM Best for financial strength ratings, the National Association of Insurance Commissioners (NAIC) for customer complaints, the Better Business Bureau (BBB) for customer reviews and the latest J.D. Power Individual Life Insurance Study for industry rankings.

How to purchase life insurance
1. Understand how different types of life insurance policies work
Learn the differences between term versus whole life insurance. Term life may suit young, healthy individuals who want income replacement for a specific period, such as the duration of a mortgage. Permanent life insurance offers lifetime coverage and growth potential but higher premiums.
2. Choose a policy term
If you’re sold on term life insurance, your next step should be to choose a life insurance term length. To do so, consider how long you need to provide for your dependents and the duration of any other financial obligations. Remember that the longer the term, the higher the premium.
3. Determine how much coverage you need
To determine how much life insurance you really need, add up potential end-of-life expenses, family lifestyle adjustments, debts and hidden income (e.g., employer benefits). Then, subtract potential income sources (e.g., Social Security) and adjust for inflation.
4. Shop for quotes
Once you’ve decided on a type of policy and coverage amount, get life insurance quotes from several different companies. Insurers price risk differently, so you could get widely different estimates based on your age, gender, health and lifestyle.
5. Make an apples-to-apples comparison
When comparing policies, request quotes for the same policy type, term length (if applicable), and coverage amount. Factor in unique features, optional riders, and discounts. Also, weigh insurers’ reputation for customer service and financial stability.

Methodology
As part of the review process to find the best life insurance companies, we:

Assessed each company’s ability to pay claims on time
Compared product offerings against industry competitors
Examined financial strength ratings as reported by credit rating agencies such as AM Best
Analyzed customer satisfaction ratings as reported by J.D. Power in the latest U.S. Life Insurance Satisfaction Study
Studied complaints regarding their individual life insurance policies, based on National Association of Insurance Commissioners (NAIC) data

We also interviewed representatives from various companies. While we strive for accuracy in regulatory and legal information, it may not be complete or fully up to date.
Latest News
In 2026, more insurance companies are increasingly incorporating artificial intelligence (AI) into their day-to-day operations. But customers aren’t convinced that the technology will work to their benefit, according to J.D. Power’s Artificial Intelligence and Insurance Pulse Survey. Only 26% of respondents believe AI tools will benefit customers and providers equally, while 68% feel insurers stand to gain the most from artificial intelligence.
The survey also measured customers’ comfort levels with AI usage for specific processes like calculating premiums, communicating with policyholders and customer service chats. Respondents were most comfortable with insurers using AI for routine steps like automated claim status updates, billing and even answering basic customer service questions. However, comfort drops sharply when it comes to higher-stakes decisions. Nearly half of respondents feel uneasy about their insurers using AI to process claims.
Customers are particularly concerned about using AI to calculate premiums. Thirty percent of respondents said there should only be partial use of AI in pricing, and only as long as there are ironclad safeguards in place. About one-third want limited AI use until the industry can guarantee the technology won’t introduce biases or violate ethical standards.
Younger consumers are delaying or avoiding life insurance
Younger adults are increasingly delaying traditional milestones such as marriage and parenthood, which have historically been key reasons for purchasing life insurance. According to Capgemini’s latest World Life Insurance Report, 68% of consumers under age 40 consider life insurance important to their financial futures, yet many remain uninsured or underinsured.
The report also found that 32% of younger adults believe life insurance doesn’t fit their current stage of life, while 28% cite affordability concerns and 25% say confusing products and application processes have discouraged them from purchasing coverage.
Life insurance shoppers face a confusing buying process
Nearly half (47%) of consumers are considering purchasing life insurance, but that interest isn’t necessarily translating into new policies, according to Capgemini’s latest World Life Insurance Report. One in four consumers who start the buying process drop out before completing it due to confusing or unclear information.
The communication gap can continue after a policy is purchased, too. About 36% of policyholders say they rarely or never hear from their insurer after buying coverage, according to the report. For consumers, that can make it especially important to understand what a policy covers, how much it costs and whether the coverage still fits their needs before signing up.

Best Life Insurance FAQs
How much life insurance do I need?
A common rule of thumb is to buy enough life insurance to replace about 10 to 15 times your annual income, but your coverage needs may be higher if you have dependents, education costs and other income your family could lose after your death.
How much is life insurance per month?
The cost of a life insurance policy will depend on factors such as the applicant’s age, sex and overall health, as well as the type of policy and coverage amount they select. The average life insurance policy costs roughly $26 per month, but can range from as low as $10 to more than $200.
What is the difference between term and permanent life insurance?
Term life insurance provides coverage for a set period, typically 10 to 40 years, while permanent life insurance provides lifelong coverage and may build cash value. Term policies generally cost less, making them a common choice for covering temporary financial obligations, while permanent policies can provide longer-term protection and additional financial benefits.
Can you get life insurance without a medical exam?
Yes — many insurers offer life insurance without a medical exam, although no-exam policies may have lower coverage limits or higher premiums. Money’s picks include Ethos, which offers a streamlined online application process, and Ladder, which offers up to $3 million in coverage without one. State Farm also offers simplified-issue policies that don’t require an exam.

Summary of Money’s Best Life Insurance Companies of October 2026

Ethos – Best for Same-Day Coverage
Lantern – Best for Instant Term Life Quotes Online
Ladder – Best for Flexible Coverage
Nationwide – Best for Bundling Discounts
New York Life – Best Whole Life Insurance
Northwestern Mutual – Best for Policy Customization
Policygenius – Best Online Life Insurance Broker
State Farm – Best for Customer Satisfaction and Stability