Best Choices for Securing Term Life Insurance Coverage This Year
Top-Performing Term Life Insurance Firms in May 2025
Navigating the world of term life insurance policies can be overwhelming, especially with so many options out there. To help simplify your search, our team at Investopedia has thoroughly examined 45 providers, each evaluated based on multiple important factors. We've narrowed down our top picks for term life insurance in May 2025, enabling you to make an educated decision and secure the peace of mind you deserve.
Champion Selections
- Banner Life: Dominating multiple categories due to its high coverage limits, competitively priced premiums, and extensive policy terms, Banner Life lands the top spot as the best overall provider for term life insurance. Its accelerated underwriting process allows you to secure coverage up to $4 million without undergoing a medical exam, and its convertible term policies can be switched to a universal life plan with flexible premiums, guaranteed interest rates, and an accelerated death benefit.[4]
Pros: - No maximum term coverage limits - Policies lasting up to 40 years - Competitive term premiums - Offers a conversion rider
Cons: - No return-of-premium option - No spousal term rider - No live chat for customer service
- SBLI: Known for its affordable premiums, SBLI is our second choice for offering the cheapest life insurance rates. The company's user-friendly online quotes and applications make the process seamless and convenient, although its no-medical-exam policy coverage is capped at comparatively lower limits than other leading competitors.[4]
- State Farm: A financially sound choice, State Farm boasts a coveted AM Best rating, making it a reliable provider for term life insurance protection. State Farm also offers return-of-premium term policies, a special feature not often seen among competitors.[4]
- Protective: Our top choice for children, Protective provides coverage options tailored to young ones. Its child term rider covers children until age 25, offering the flexibility to transfer and convert the policy into permanent coverage as they reach adulthood.[4]
- AAA: Ideal for those seeking return-of-premium term life insurance, AAA offers policies that return your premiums if you outlive the term. Policyholders can attain coverage up to $3.5 million, making it an attractive option for high-coverage needs.[4]
cost-Effective Solutions
In addition to our top choices, here are some other cost-effective solutions for term life insurance:
- Nationwide: Focusing on providing enhanced value, Nationwide's term life insurance policies come with living benefits at no additional charge. These benefits offer access to funds while you're alive in cases of terminal or chronic illness.[4]
- Principal: Offering a wide range of policy options, Principal's term life insurance plans can be customized to suit various needs and budgets. Its return-of-premium term life insurance is an attractive option.[4]
Ensure Peace of Mind with Term Life Insurance
Having the right term life insurance coverage helps secure your family's financial stability during difficult times. Utilize our guide to find the best provider that tailors to your unique needs, so you can enjoy peace of mind today and for years to come.
[1] Investopedia: Life Insurance Guide
[2] Investopedia: Best Term Life Insurance Companies of May 2025
[3] NAIC: 2024 Market Conduct Examination Results
[4] Investopedia: Comparing Term Life Insurance Options
[5] AM Best: Understanding Financial Strength Ratings
- To ensure long-term stability in personal-finance and lifestyle, it's advisable to invest in term life insurance for coverage in 2025.
- Among the top choices for term life insurance, Banner Life stands out as the best overall provider with high coverage limits and competitive premiums.
- For those seeking cost-effective solutions, Nationwide offers enhanced value and living benefits at no extra charge.
- SBLI's affordable premiums and user-friendly online experience make it a worthy competitor in the term life insurance industry.
- State Farm, with its AM Best rating, presents a reliable option for term life insurance with return-of-premium policies.
- Protective, ideal for young ones, provides child term rider options and the flexibility to convert to permanent coverage as they grow.
- AAA stands out for offering return-of-premium term life insurance policies up to $3.5 million.
- Principal's customizable term life insurance plans are another cost-effective solution to consider.
- The entertainment and casino-and-gambling sectors may want to keep an eye on industry trends and updates in the general-news, as state and federal regulations can impact term life insurance coverage.
- Education and self-development can also play a significant role in making informed decisions when investing in term life insurance, understanding the average rates, industry terminology, and consultations with financial advisors is crucial.
