9 Best Term Life Insurance of 2026

Ladder is the strongest fit for families who want speed and expect their needs to change. The whole application runs online with health questions only for coverage of $3 million or less, and Ladder says it may ask for a free at-home health check above that. Its distinctive feature is Laddering: after the policy is issued you can lower coverage, and the premium with it, as your mortgage balance drops or your children become independent, or apply to raise it. Ladder publishes a $5 a month starting rate, which applies to a 20-year-old in the Preferred Plus class buying $100,000 for 10 years, so parents in their thirties should expect more. The calculator offers 10 to 30 year terms. Policies are issued by Amica Life, Fidelity Security Life or S.USA Life depending on product, and are not sold in New York. You get a full refund within 30 days and can cancel later without a fee. We compared documented features and published prices.

Banner Life, part of Legal & General America, is the carrier behind several online brands, and buying from it directly gives you the most choice on this list. Level terms run from 10 to 40 years in five-year steps, which lets parents of a newborn cover the full span until their child is through college and beyond. Coverage starts at $100,000 and goes beyond $10 million, and issue ages run from 20 to 75. Banner publishes a starting price of $8 a month. Its rider menu is the deepest here: term riders let you stack a shorter policy on top of a long base policy, a child rider covers children until age 25, and an accelerated death benefit rider is included on term policies effective 2011 or later, subject to availability. Banner reports 1.6 million U.S. policyholders and a No. 2 ranking for term life sales in LIMRA's 2025 survey. Its term page makes no promise of a no-exam decision, so plan for a longer underwriting path. We compared documented features and published prices.

Fabric is the digital term life brand of Gerber Life, part of Western & Southern Financial Group, and it is built explicitly around parents. Terms run from 10 to 30 years with coverage from $100,000 to $5 million, the highest ceiling among the app-first options on this list. Fabric says qualified applicants can get instant coverage without a medical exam and that the application can take as little as 10 minutes, with a licensed team available if you need help. It publishes a starting price of $7.85 a month for a 25-year-old woman with $100,000 in coverage. A price lock guarantee keeps the premium fixed as long as you pay, there is a 30-day money back guarantee, and you can cancel any time with no hidden fees. The same app offers free wills and custodial investment accounts for children. The main caveat is that the no-exam path is not guaranteed, and some sample pricing on the page dates from 2024. We compared documented features and published prices.

Lemonade Term Life is a simple way to buy a Banner Life policy through an app many families already have for renters, home, car or pet cover. Lemonade's agency sells the policy and Banner Life underwrites and issues it, using its OPTerm and RiseTerm forms, so the insurer standing behind the claim is the same carrier ranked second on this list. Lemonade publishes a starting price of $8 a month and says about 90% of applications are approved. Its page lists six underwriting classes, from preferred plus non-tobacco to standard tobacco, and notes that the application asks about lifestyle and health. Coverage is sold in 49 states and DC but not New York. The page publishes less detail on term lengths, coverage caps and riders than Banner's own site, so check those during the quote. For families who value a clean digital process and want everything in one app, it is an easy choice. We compared documented features and published prices.

Ethos is the quickest route to coverage on this list. You answer health questions online, there is no medical exam, and Ethos says most applicants get an instant decision and many are covered the same day in as little as 10 minutes. It compares rates from several carriers and offers term lengths from 10 to 40 years with up to $3 million in coverage. Applicants must be U.S. citizens or permanent residents, and term life is available up to age 69, with coverage able to run to age 80. Eligible policies include a free will and trust through a Perks rider, which Ethos values at $898 for a policyholder and spouse, though that perk is not available in every state. Every policy has a 30-day free look, and applying does not touch your credit score. The trade-off is price: Ethos publishes plans from $30 a month, the highest floor here. Ethos is licensed in 49 states and DC, not New York. We compared documented features and published prices.

State Farm suits families who would rather sit down with an agent and want flexibility later. Its Select Term policy comes in 10, 20 or 30 year terms with a level premium for the initial term, and you can keep it in force afterwards at increasing cost up to age 95. State Farm publishes sample rates for a 25-year-old woman in excellent health in Illinois buying $250,000: $15.02 a month for 10 years, $15.22 for 20 years and $19.14 for 30 years. A Return of Premium version refunds what you paid if you outlive a 20 or 30 year term. For speed, Instant Answer Term offers $50,000 of coverage with an in-office decision in minutes and no medical tests, though that amount is small for most families. State Farm also lets you convert any of its term coverage to permanent insurance regardless of your health. Online quotes are available for Select Term, but most buying runs through local agents. We compared documented features and published prices.

Northwestern Mutual is for families who want life insurance folded into a wider financial plan rather than bought in ten minutes. Its term range includes Level Term 20, where the premium stays flat for 20 years, and annual renewable policies such as Term 10 and Term 80, which cost less at first but rise every year; Term 80 can keep coverage going until you turn 80. Northwestern Mutual publishes an example: a healthy 35-year-old woman in the premier class buying $500,000 of Term to Age 80 with waiver of premium starts at $253 a year, about 69 cents a day, and a man of the same age at $306 a year, with premiums increasing annually. Any of its term policies can be converted in part or in full to whole life. The trade-off is process: there is no online application, and an advisor handles the quote and underwriting conversation, which takes longer than the digital brands. We compared documented features and published prices.

Guardian's term life appeals to families who think they may want permanent coverage later. Its level term policies usually run 10, 15 or 20 years with a fixed death benefit and premium. Every Guardian level term policy can be converted to a permanent whole life policy in the first five years without a new medical exam, and an optional Extended Conversion Rider stretches that right across the whole policy, the most generous conversion terms on this list. You can start with an instant online quote, but Guardian's own guide says insurers typically require a medical exam and ask about your occupation and lifestyle, so underwriting is slower than the no-exam brands. Guardian does not publish a starting price on its term page, so we could not include one. Riders may cost extra and may not be offered in every state. We compared documented features and published prices.

Mutual of Omaha offers a straightforward term policy underwritten by United of Omaha Life Insurance Company. Its term page promises a fixed death benefit, premiums that never increase throughout the life of the policy and the option to convert to a permanent plan, and positions the product for families who need cover until their children are grown or a mortgage is paid off. You can start with an online quote or a needs calculator, or call an agent. Mutual of Omaha lists age, gender, term duration, health and tobacco use as price factors but does not publish a starting price, term lengths or coverage limits on its main term page, and it makes no claim of a no-exam or instant decision. That limited disclosure is why it ranks last here despite a familiar brand. It is still worth a quote if you already hold Medicare supplement or other cover with the company. We compared documented features and published prices.