- Best Overall: State Farm.
- Best for Whole Life Policies: Northwestern Mutual.
- Best for Term Policies: MassMutual.
- Best Child Rider Option: Prudential.
- Best Affordable Option: Transamerica.
- Best for Young Families: Banner Life.
- Best for Ease of Signing Up: Bestow.
Which type of life insurance is best for family?
If budgeting is your biggest concern, term life insurance may be the best choice. If you have many dependents, whole life insurance may be a better route. However, if financial planning and cash value are most important to you, universal life insurance may be a strong option.
What type of life insurance is the best?
There are two primary categories of life insurance: term and permanent. Term life insurance lasts for a set timeframe (usually 10 to 30 years), making it a more affordable option, while permanent life insurance lasts your entire lifetime.
What are the 2 most common types of life insurance?
If you only need life insurance for a relatively short period of time (such as only when you have minor children to raise), term may be better as the premiums are more affordable. If you need permanent coverage that lasts your entire life, whole life is likely preferred.