Best Term Life Insurance Companies

People select term life insurance if they have a cost that will eventually go away - such as education fees or a mortgage payment. Term life insurance policies are usually less expensive than a permanent insurance policy. When shopping for term life insurance it is important to go to a good company. Therefore, below is a list of the best term life insurance companies in the market.

Jackson National:

Jackson National Life Insurance Company was formed in 1961. Today, the company's sales are over $14.5 billion, and the total assets are close to $75 billion. The group offers individual life insurance, institutional products, fixed and variable annuities, asset management, retail mutual funds, and retail brokerage services to its clients.

Jackson National offers term life insurance policies in durations of ten, fifteen, or twenty years. The policy, called JNL Protector Term Life, is guaranteed for renewal until the policy holder reaches the age of 95. A term policy through Jackson can be converted to a permanent policy until the age of 80.

Lincoln National:

The Lincoln Financial Group was founded in Fort Wayne, Indiana in 1905. Today, Lincoln Financial Group has $171 billion in assets under its management and is headquarter in Philadelphia. Lincoln Financial Group is a diversified financial services company whose main goal is to provide financial solutions that help their customers secure their retirement and manage their life transitions.

Lincoln Nation offers temporary term coverage for periods of one, five, ten years, or longer. The term life product is called Lincoln Life Elements Level Term. The premiums are fixed, and no investment is returned at the end of the contract.

Aviva:

Aviva is the fifth largest insurance company in the world. It has $725 billion in assets under its management. The company's corporate heritage dates back to 1696. Aviva USA is based in Topeka, Kansas. The company offers long-term savings, insurance, annuities, and retirement income products.

Ten, twenty, thirty, and annual renewable term polices are available through Aviva. The premiums are fixed, and the minimum face value is $50,000. Aviva term policies are also convertible to any universal life insurance policy.

State Farm:

State Farm started to sell life insurance during the Great Depression, in 1929. State Farm now has more than $100 billion in coverage.

The company offers term life insurance policies with fixed or adjustable premiums. The term of the policy can be five, ten, twenty, or thirty years and are eligible for renewal until the age of 85 or 95 depending on the state the policy is issued in. A State Farm policy can be converted to a permanent policy until the policy holder reaches the age of 75.

Fidelity:

Fidelity was founded forty years ago and now has subsidiaries in all major financial centers in the world. Fidelity provides financial services and investment resources to individuals and institutions. Fidelity offers mutual fund products, discount brokerage services, retirement services, estate planning, wealth management, and life insurance.

Fidelity offers term life insurance to individuals that are between the age of 18 and 70. The term period can be ten, fifteen, or twenty years.