Top 3 Cheapest Life Insurance Companies in 2021

It’s never too early to invest in a good life insurance policy. The longer you wait, the more expensive life insurance gets. Plus, if/when you have a family, life insurance can help ensure your loved ones (and your outstanding loans/debt) are covered if something ever happens to you. To give you a headstart in selecting your policy, we’ve distilled the vast number of life insurance companies down to the 5 best (and cheapest) in the market.

So without further ado, here are the companies offering the most affordable life insurance :

1. Northwestern Mutual

Ranking #1 as the Best Life Insurance Company by Nerdwallet in 2021, Northwestern offers affordable all kinds of life insurance policies and advertises a $1-per-day term life insurance policy (you can choose how many years). And you can rest easy knowing your money is safe with these guys - because they’ve been around for over 150 years.

2. State Farm

State Farm’s term life policies provide coverage up to age 95 whereas most other companies stop coverage as soon as you hit 80. Also, they have a term policy for upto 50 years of age called the Instant Answer, wherein you won’t need to take a medical exam or physical. It’s a great option if you want to protect your family when your kids are young or pay off a home mortgage well before retirement.

3. Mutual of Omaha

Mutual of Omaha has been around for more than a hundred years, offering term life coverage for anyone between 18 to 80 years old. You can combine their life insurance policy with an accidental death policy for anyone between 18 to 70 years of age, which can be renewed for ten years afterwards. Why would you need to consider the accidental death policy? This kind of coverage protects your loved one if you end up in either a work-related or non-work related accident up to $1 million. If the insured dies while driving, Mutual pays upto $300,000 and up to $1 million if killed as a paying passenger in an aircraft, boat or bus.

For more information on affordable yet worthwhile life insurance coverage, contact the experts at iLifeInsurance today.