Top 10 Term Insurance Plans in the USA: What You Need to Know Before You Buy

Hey there! If you’re thinking about getting term life insurance, you’re on the right track. It’s one of the best ways to make sure your family is financially secure if something happens to you. With so many options out there, picking the right plan can feel like trying to find a needle in a haystack. But don’t worry, I’ve got you covered. Here’s a breakdown of the top 10 term insurance plans in the USA and some crucial details you should check before you buy.

1. Haven Life

Overview: Backed by MassMutual, Haven Life is perfect if you like handling things online. Their process is quick, and their rates are competitive.

Key Features:

  • Coverage up to $3 million
  • Instant coverage available
  • Convertible to a permanent policy

What to Check:

  • Eligibility criteria
  • Policy riders like the accelerated death benefit
  • Premium payment options

Website: Haven Life

2. Banner Life

Overview: Known for being affordable and flexible, Banner Life is a great choice. They’re a part of Legal & General America.

Key Features:

  • Coverage from $100,000 to $10 million
  • Terms from 10 to 40 years
  • Renewable policies

What to Check:

  • Rate guarantee period
  • Conversion options
  • Medical exam requirements

Website: Banner Life

3. Protective Life

Overview: Protective Life is versatile, letting you extend your coverage if you need to.

Key Features:

  • Customizable term lengths
  • Coverage up to $50 million
  • Extendable coverage

What to Check:

  • Premium increases after the initial term
  • Available riders
  • Customer service ratings

Website: Protective Life

4. AIG (American General)

Overview: AIG offers a variety of term lengths and affordable premiums.

Key Features:

  • Coverage up to $10 million
  • Terms from 10 to 35 years
  • Accelerated death benefit rider

What to Check:

  • Financial stability
  • Policy exclusions
  • Conversion privileges

Website: AIG

5. Prudential

Overview: Prudential gives you living benefits and customization options with various riders.

Key Features:

  • Coverage up to $10 million
  • Living needs benefit rider
  • Renewable and convertible policies

What to Check:

  • Term conversion options
  • Policy fee structure
  • Customer satisfaction scores

Website: Prudential

6. Principal

Overview: Principal offers straightforward policies with competitive rates.

Key Features:

  • Coverage from $200,000 to $50 million
  • Terms from 10 to 30 years
  • Renewable policies

What to Check:

  • No-medical-exam options
  • Waiver of premium rider
  • Policy customization options

Website: Principal

7. Lincoln Financial

Overview: Lincoln Financial provides flexible options with various term lengths.

Key Features:

  • Coverage up to $1 million without a medical exam
  • Convertible to permanent insurance
  • Terms from 10 to 30 years

What to Check:

  • Policy renewal conditions
  • Rate increases after term expiration
  • Financial strength

Website: Lincoln Financial

8. Pacific Life

Overview: Pacific Life offers a range of options with the ability to convert to permanent coverage.

Key Features:

  • Coverage up to $3 million
  • Terms from 10 to 30 years
  • Conversion options

What to Check:

  • Policy fees and charges
  • Renewal options
  • Available riders

Website: Pacific Life

9. Mutual of Omaha

Overview: Mutual of Omaha offers various term lengths and optional riders for additional coverage.

Key Features:

  • Coverage up to $1 million
  • Terms from 10 to 30 years
  • Optional riders

What to Check:

  • Rate stability
  • Policy exclusions and limitations
  • Customer service reviews

Website: Mutual of Omaha

10. State Farm

Overview: Known for great customer service, State Farm offers flexible and competitive term policies.

Key Features:

  • Coverage up to $3 million
  • Terms from 10 to 30 years
  • Convertible to permanent policies

What to Check:

  • Premium renewal rates
  • Additional riders
  • Financial strength

Website: State Farm

Essential Details to Check Before Purchasing Term Insurance

  1. Coverage Amount: Make sure the policy offers enough coverage to meet your family’s needs.
  2. Term Length: Choose a term length that fits your financial obligations, like the length of your mortgage or until your kids are financially independent.
  3. Premium Costs: Compare premiums and ensure they fit within your budget. Look for guaranteed level premiums.
  4. Conversion Options: Check if you can convert the policy to a permanent one without a medical exam.
  5. Riders and Add-ons: Consider adding riders like an accelerated death benefit, waiver of premium, or disability income to enhance your coverage.
  6. Medical Exam Requirements: Understand if a medical exam is required and how it might affect your premiums.
  7. Renewal Policies: Know the terms for renewing the policy after the initial term and any changes in premiums.
  8. Insurer’s Financial Strength: Verify the insurer’s financial stability through ratings from agencies like A.M. Best, Moody’s, or Standard & Poor’s.
  9. Customer Service: Research customer reviews to ensure the insurer provides reliable service.
  10. Policy Exclusions: Read the policy to understand any exclusions or limitations that might affect your coverage.


Choosing the right term insurance plan is crucial for securing your family’s financial future. This guide on the top 10 term insurance plans in the USA provides you with the insights needed to make an informed decision. Always remember to check the essential details before purchasing to ensure the policy aligns with your financial goals and offers the best protection for your loved ones.

For more detailed information and to get quotes, visit the respective websites of each insurer. Investing time in research now can save your family from financial stress later.

By following these tips and understanding the top options available, you can confidently select a term insurance plan that provides peace of mind and financial security for your family.