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Business Insider compiled data from 30 different life insurance companies based on customer service, financial stability, and asset size rankings, along with premium prices where available.
Term vs whole life insurance
To start, you'll need to decide what type of insurance you need. Two main types, whole and term life insurance, divide your options.
Whole life insurance is a lifelong policy that's guaranteed to pay out eventually. But, it is about six to ten times more expensive than term life.
Term life covers a person for a set number of years, and is the most affordable. It's ideal for families with young children, people with debt, or someone with dependents, but only pays out if there's a casualty within that set period. For most people, term life insurance coverage is sufficient, and that's the policy type we focused on while compiling this list.
How to find the best price
Like any other type of insurance, term life policies have many factors that influence the price you'll pay for coverage. Your age, health, location, and amount of coverage necessary will all change the monthly premium. The company you choose will look at all of these factors differently, leading to different prices for every company and each policy.
Do I need life insurance?
If you have dependents — that's people who rely on your income, like children, a non-working spouse, or aging parents you support — you need life insurance. If you don't have dependents but do have debt or own a business, you might also want to consider it.
How do I get life insurance?
There are a few ways to approach getting life insurance once you've decided how much coverage and what type of policy you need.
For more detail
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