Cheap Term Life Insurance Quotes: Top 10 Companies

Life insurance is a vital financial product that can offer security and peace of mind for your loved ones in case of your passing. However, the cost of life insurance can vary considerably, influenced by factors such as your age, health, and lifestyle.

If you’re in search of economical life insurance quotes, we’ve got you covered. This guide will explore the top 10 cheapest life insurance companies in 2023, providing a snapshot of their monthly premiums and death benefit offerings for a 30-year-old male non-smoker in good health.

1. Pacific Life

Pacific Life is a Fortune 500 company that has been in business since 1868. It offers a wide range of insurance products, including term life insurance, whole life insurance, and universal life insurance.

Pacific Life is known for its strong financial ratings and its commitment to customer service.

Monthly Premium: $18.52

Death Benefit: $250,000

life Insurance Policies Term Range:

2. Corebridge Financial (formerly AIG Life)

Corebridge Financial is a leading provider of life insurance and retirement products. It’s also a Fortune 500 company with a long history of financial stability.

Corebridge Financial offers a variety of term life insurance options, including guaranteed and convertible term policies.

The company also offers a variety of riders, such as accidental death and dismemberment (AD&D) riders and waiver of premium riders.

Monthly Premium: $18.40

Death Benefit: $250,000

life Insurance Policies Term Range:

3. Lincoln Financial

Lincoln Financial is yet another Fortune 500 company that offers a wide range of financial products and services, including life insurance, retirement planning, and investments.

Lincoln Financial is known for its strong financial ratings and its wide range of life insurance products.

Monthly Premium: $18.90

Death Benefit: $250,000

life Insurance Policies Term Range:10 to 40 years

4. SBLI

SBLI is a mutual life insurance company that has been in business since 1901. It offers a variety of life insurance products, including term life insurance, whole life insurance, and universal life insurance.

Monthly Premium: $19.53

Death Benefit: $250,000

life Insurance Policies Term Range: 10 to 30 years

5. Bestow

Bestow is a new type of life insurance company that offers affordable and easy-to-get term life insurance policies.

This company uses technology to streamline the underwriting process and make it easier for people to get life insurance coverage.

Bestow is known for its affordable rates and its easy-to-use online application process. 

Monthly Premium: $18.94

Death Benefit: $250,000

life Insurance Policies Term Range: 10 to 30 years

6. Fidelity

Fidelity is a leading provider of financial services, including life insurance, retirement planning, and investments. Fidelity is known for its strong financial ratings and its wide range of financial products and services. 

Monthly Premium: $18.82

Death Benefit: $250,000

life Insurance Policies Term Range:10 to 40 years

7. Nationwide

Nationwide is a Fortune 100 company that offers a wide range of financial products and services, including life insurance, retirement planning, and investments.

Nationwide is known for its strong financial ratings and its wide range of life insurance products.

Monthly Premium: $19.33

Death Benefit: $250,000

life Insurance Policies Term Range:10 to 30 years

8. State Farm

State Farm is the largest provider of homeowners insurance in the United States. It also offers a variety of other insurance products, including life insurance, auto insurance, and business insurance.

Monthly Premium: $19.87

Death Benefit: $250,000

life Insurance Policies Term Range: 10 to 40 years

9. Transamerica

Transamerica is a leading provider of life insurance and retirement products. It is a Fortune 500 company with a long history of financial stability.

Monthly Premium: $19.54

Death Benefit: $250,000

life Insurance Policies Term Range:10 to 30 years

10. Banner Life

Banner Life is a mutual life insurance company that has been in business since 1911. It offers a variety of life insurance products, including term life insurance, whole life insurance, and universal life insurance.

Monthly Premium: $19.20

Death Benefit: $250,000

life Insurance Policies Term Range:10 to 40 years

Note: It’s essential to keep in mind that these quotes are for reference and your actual premium may vary depending on your specific circumstances, such as your age, health status, and more.

Final Words

Remember that term life insurance is often the most economical choice, but it’s essential to evaluate the specifics of your individual situation to secure the ideal coverage.

By prioritizing your health and making informed choices, you can ensure that your loved ones receive the financial protection they need without straining your budget.