September, 23 2017

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Cheapest Life Insurance Companies for Healthy People

Cheapest Life Insurance Companies for Healthy People

Cheapest Life Insurance Companies for Healthy People

If you’re a healthy individual and in the market for life insurance, which insurers offer the best rates?  The answer will depend on many different factors such as your; age, build, family history, medication history, driving history, occupation, avocation and tobacco use.  The reality is there are over 900 life insurance companies and each one will underwrite and price you differently. 

For the purposes of this article, let’s take a look at the sample rates & companies for a 40-year old male, in excellent health (top health class), for a $500,000 policy on a 20-year level term.  Click on each company for more information.

Company A.M.Best Rating Annual  Monthly Policy Rating Class

American General Life Insurance Company       A

$349.00

$30.54

Select-a-Term – 20 Year Preferred Plus Non-Tobacco
Protective Life Insurance Company       A+

$351.79

$30.26

Custom Choice UL – 20 Year No Lapse Select Preferred Non-Tobacco
Ohio National Life Assurance Corporation       A+

$355.00

$30.71

FlexTerm Series IX – 20 Year Plus Super Preferred Non-Smoker
Genworth Life and Annuity Insurance Co       A

$355.00

$31.06

Colony Term 20 Preferred Best No Nicotine Use
Pacific Life Insurance Company       A+

$375.00

$31.26

Pacific PRIME Term 20 Super Preferred NonTobacco
Cincinnati Life Insurance Company       A

$385.00

$33.88

LifeHorizons Termsetter 20 Super Select Non-Smoker
Nationwide Life and Annuity Insurance Co       A+

$385.00

$34.27

YourLife(SM) GLT 20 Year Term Preferred Plus Nontobacco
American National Insurance Company       A

$390.00

$33.70

ANICO Signature Term 20 Preferred Plus Non-tobacco
Standard Life and Accident Insurance Co       A

$390.00

$33.70

Advantage Shield Term 20 Preferred Plus Non-tobacco
The Penn Mutual Life Insurance Company       A+

$390.00

$33.93

Guaranteed 20 Year Term (CA) Preferred Best Non-Smoker
American United Life Insurance Company       A+

$390.00

$34.71

American Protector Plus – LTP 20/20 Elite Preferred Nontobacco
Transamerica Life Insurance Company       A+

$395.00

$34.56

Trendsetter Super 20 Preferred Plus Non-Smoker
Savings Bank Life Insurance Co of MA       A+

$400.00

$34.80

T-20/20 – 20 Year Term Preferred Plus Non-Nicotine
North American Co for Life and Health       A+

$405.00

$35.44

ADDvantage 20 Super Preferred Non-Tobacco
Midland National Life Insurance Company       A+

$405.00

$35.76

Premier CS4 – 20 Year Term Preferred Plus Non-tobacco
AAA Life Insurance Company       A-

$410.00

$36.08

20 Year Level Term Super Preferred Non-Nicotine
AXA Equitable Life Insurance Company       A+

$410.00

$37.64

Equitable Term 20 (151X) Preferred Elite Non-Tobacco
MetLife Investors USA Insurance Company       A+

$414.00

$37.26

Guaranteed Level Term 20 Elite Plus Nonsmoker
ReliaStar Life Insurance Company (ING)       A

$415.00

$36.31

TermSmart 20 – 20 Year Term Super Preferred Non-Tobacco
MTL Insurance Company       A-

$415.00

$37.35

SelecTerm-20 Preferred Plus Non-Tobacco
Banner Life Insurance Company       A+

$420.00

$36.75

OPTerm 20 – 20 Year Term Preferred Plus Non-Smoker
Principal National Life Insurance Co       A+

$423.84

$37.09

20-Year Term (2014) Super Preferred non-tobacco
Guardian Life Insurance Co of America       A++

$430.00

$36.91

Level Term Gold 20 Elite
Symetra Life Insurance Company       A

$430.00

$37.63

20 Year Level Term Super Preferred Non-Nicotine
TIAA-CREF Life Insurance Company       A++

$436.00

$38.15

20-Year Level Term Preferred Plus Non-Tobacco
Minnesota Life Insurance Company       A+

$440.00

$38.72

Advantage Elite Select Life – 20 Year Preferred Select Non-Tobacco
Lincoln National Life Insurance Company       A+

$445.00

$39.61

LifeElement (SM) Level Term – 20 Year Preferred Plus Non-tobacco
Ameritas Life Insurance Corp       A

$460.00

$39.58

Keystone Term 20 (CA, IN, OR, PA) Preferred Plus Non-Tobacco
Columbus Life Insurance Company       A+

$470.00

$39.95

Nautical Term – 20 Year Super Preferred Non-tobacco
Independent Order of Foresters       A

$470.00

$41.13

Foresters Lifefirst – 20 Year Preferred Plus Non-Tobacco
National Life Insurance Co of Vermont       A

$470.00

$41.36

GL-20 – 20 Year Level Term Elite Preferred Nontobacco
Primerica Life Insurance Company       A+

$475.00

$45.13

Custom Advantage – 20 Year Preferred Plus Non-Smoker
Massachusetts Mutual Life Insurance       A++

$485.00

$42.20

Vantage Term 20 Ultra Preferred Non-Tobacco
EMC National Life Company       A-

$485.00

$43.17

Term Select – 20 Year Preferred Plus Non-Tobacco
United of Omaha Life Insurance Company       A+

$487.50

$42.66

Term Life Answers 20 Preferred Plus Non-Tobacco

 

 

Conclusion

The cheapest life insurance companies for healthy people provide a great value and are highly rated.  The bottom line is you can’t go wrong in choosing any of the insurers listed above.  Since there isn’t one universal life insurance company that will offer the cheapest rate for everyone, it’s important to compare quotes and policy features from different companies and choose the best one for you and your family.