9 Best Online Life Insurance Companies for 2024

It can hardly be a coincidence that no language on Earth has ever produced the phrase “as fun and exciting as shopping for life insurance.”

That’s because insurance shopping is traditionally a frustrating endeavor.

For one thing, no one wants to think about their own mortality, which makes life insurance shopping something of a bummer from the get-go. Then the difficulty of comparing apples to apples among products and the relentless nature of high-pressure insurance salesmen make it even harder to drum up enthusiasm for this important financial task.

It’s no wonder that 40% of Americans have no life insurance whatsoever.

But going without life insurance is a bad idea, and having inadequate life insurance is only marginally better. This is why we put together this list of the best life insurance companies for term quotes.

Thankfully, with the advent of online life insurance sites, shopping for insurance no longer means that you have to sit through a hard sell presentation from an overzealous insurance salesman.

Life insurance is a necessity if anyone depends on your income. There are several life insurance companies that operate fully online, such as Bestow, Ladder, and Fabric. Each will allow you to apply online for term life insurance and get coverage quickly.

Best Online Life Insurance Companies for Term Quotes

You don’t even have to change out of your pajamas to get a life insurance quote from any of the following sites:

Let’s dig into a little more detail for each of these life insurance companies.

1. Fabric


If you’re a young parent wondering how to protect your family without a ton of confusion, Fabric makes a typically complicated process much simpler.

Fabric first launched in 2017, founded by two young fathers who understood the stress on parents exploring the best ways to protect their families. They designed Fabric to solve those particular issues they found in purchasing life insurance, streamlining the process to keep it primarily online.

With Fabric, you get two policy options: Instant and Premium. Fabric Instant only covers accidental death, whereas Fabric Premium is term life insurance.

Fabric Premium policies are available in terms of 10, 15, or 20 years and range from $100,000 to $5 million in coverage. Policies are issued through Vantis Life, a Penn Mutual company.

In less than 10 minutes, you can complete your application online. Fabric makes the life insurance process simple and quick through their online application system. You’ll respond to basic questions about your lifestyle, hobbies, and health. Depending on your health history, state of residency, and other factors, you may need to take a health examination to qualify for Fabric Premium. Luckily, this step is also fairly painless, since you can schedule your exam as a house call. More info…show

Pros: The application is easy, and it takes the guesswork out of vital financial planning for families and young parents.

Cons: Fabric is not available in Montana, and you may need a medical exam for Fabric Premium.

Website: https://meetfabric.com

Check out our full Fabric review.

2. Ladder


Ladder Logo Full Black

Ladder was created with this vision: offer a quick way for people to buy term life insurance rather than going through the hassle of visiting an agent. To do this, Ladder offers term life insurance policies through a 100% digital application up to $8 million, the largest available for an instant term product.

Based in Palo Alto, California, Ladder offers policy fee-free, straight term life insurance at rates that are among the most competitive in the industry. It has no whole life insurance policies because the founders of the company believe that “term life insurance is a straightforward product that makes financial sense for many people and provides affordable coverage”show

Pros: Ladder offers a quick, online application and an instant insurance decision for term policies up to $8 million, along with the ability to change your coverage amount whenever you like. For those applying for coverage over $3 million, Ladder may require a lab to get some more health information. Additionally, the site offers a great insurance calculator that can help you determine what level of coverage you need.

Cons: Ladder does not offer insurance to those over 60 years old.

Website: www.ladderlife.com

3. Bestow


bestow logoThis circa-2016 entry to the online life insurance marketplace started with the crazy idea that buying life insurance doesn’t need to be a drawn-out process.

With Bestow life insurance, there is no medical exam nor do you have to fill out endless paperwork.

In fact, on the Bestow site, you can get a quote, fill out the application, and get term life coverage in minutes. Literally.show

Check out our full Bestow review here.

Pros: Bestow can get you set up with inexpensive coverage that meets your needs within minutes.

Cons: Bestow is not currently available in New York. Adults under age 21 or over age 55 are not eligible for Bestow policies.

Website: www.hellobestow.com

4. Haven Life

Imagine you could fill out a life insurance policy application entirely online and get a decision in real-time with no medical exam, and receive affordable, high-quality coverage.

That seemingly impossible scenario is exactly what Haven Life offers. This company offers competitive and fully medically underwritten term life insurance. Applicants must be non-military, between the ages of 18 and 64, and they must have a valid U.S. driver’s license. The application and approval process is quick and painless, and some applicants will not even have to undergo a medical exam. More info…show

Pros: The application process is lightning fast, and you can have a coverage decision in real-time, instead of waiting weeks. The insurance coverage available is the same quality as you would receive through the traditional application process–it’s just much faster.

Cons: Haven Life does not offer policies to military members or those over 64.

Website: Learn more at havenlife.com.

5. PolicyGenius

Policygenius was created to make navigating insurance a less frustrating process. The cornerstone of the PolicyGenius experience is the Insurance Checkup tool.

For consumers who aren’t sure where their coverage gaps are, the Insurance Checkup can help you figure out both how much and what kind of insurance you need. The entire Checkup process takes approximately five minutes to complete, and it gives you a good starting place for determining where your coverage gaps are–with no sales pitch. If you don’t need a policy, PolicyGenius will not try to sell you one. More info…show

Pros: The site is very user-friendly and intuitive. Customer support is helpful and easily available, and there is no pressure to buy.

Cons: Though Policygenius offers insurance from a number of large carriers, it does not work with smaller niche carriers that could be a better fit for some customers.

Check out our full Policygenuis review.

6. Sproutt


Sproutt is a relative newcomer to the life insurance scene. Founded in 2018, Sproutt takes a unique approach to insurance. Their premise is that in the hundreds of year history of the insurance industry, no company has tried to reward people for being healthy; for being active, eating and sleeping well, or living a balanced life. To help combat that, Sproutt created a tool called GAIA (Guided Artificial Intelligence Assessment), which evaluates your lifestyle in five different categories More info…show

Pros: Better match of your lifestyle to an insurance company that will give you the best rates.

Cons: If you have a complicated health history, you may be better served working with an agent or broker that can offer more personalized service

Website: www.sproutt.com



Members of the military have counted on USAA for excellent banking and other financial services for nearly 100 years. Their high-quality customer service and easy-to-navigate options extend to USAA’s term life insurance offerings. With just a few clicks, anyone can get a quick term life insurance quote on USAA’s site. You do not have to be a member of the military or related to one to qualify for a policy with USAA. More info…show

Pros: USAA offers coverage to military members that helps fill in the gaps, especially for those coming home from deployment. The website is easy to navigate and can quickly give you a sense of the cost. Even non-military customers can qualify for a policy.

Cons: Underwriting for USAA is relatively slow and not especially flexible. This may not be the right option for non-military customers who need coverage in a hurry or who have pre-existing health conditions.

Website: www.usaa.com

8. SelectQuote


Select Quote

Founded back in 1985, SelectQuote was the first company to offer direct marketing of term life insurance, long before the Internet made such direct marketing easy. The company calls itself the #1 Term Life Sales Agency in America, and it offers an unbiased price comparison of the best rates from 11 different highly-rated life insurance companies–something it’s been doing for more than 30 years. More info…show

Pros: You can receive your quote within 10 minutes on the phone, after filling out the necessary information online. SelectQuote works with 11 different insurance companies, meaning rates are very competitive for healthy applicants.

Cons: You must work with SelectQuote over the phone, rather than entirely online. Some reviews have described the agents as somewhat aggressive.

Website: www.selectquote.com

9. Vantis Life

Vantis Life

This company aims to make life insurance easy to understand and easy to buy. Vantis Life, which has been around since 1942 and merged with Penn Mutual Life Insurance Company in 2016, has always geared its offerings toward middle-income Americans. That’s no different with its attractive, intuitive, and smart web design that makes shopping for insurance actually kind of fun. More info…show

Pros: The website is easy to use and can offer an instant quote and a policy decision in minutes. The available tools help you make a decision, and the included riders add value to Vantis’s offerings.

Cons: Not available in every state.

Website: www.vantislife.com

How to Evaluate Term Life Insurance Options

When comparing life insurance options, make sure you look at providers that offer coverage in your state. Not every life insurance company offers policies in all 50 U.S. states.

In addition, make sure you check each company’s rating from A.M. Best, Fitch, Standard & Poor’s and Moody’s to ensure it has a good financial rating. Your policy will be in effect for a number of years. So you want a company that will be around–and in good financial standing–for years to come.

Look at Policy Options

Another important consideration should be the types of policies offered by each company. Review all options, terms, and riders so you can create a policy that fits your needs. Another option to consider is guaranteed renewability. This is the option to convert your term life plan to a whole life policy without a new medical exam.

Factor in Premiums

How much you pay for the exact same coverage can vary from company to company. The best thing you can do is get several different quotes so you can compare between options, coverage, and prices.

Each person’s insurance quote is going to be unique. They are based on a number of factors, including perceived risks on part of the insurer. To find the best option for you, narrow down your list of potential insurers based on the policy options they provide. From there, get three to five quotes so you have a better idea of what it will cost.

Consider Customer Service

When doing your research about each company, look at what other people are saying about their experience. This will help you decide if you want to do business with that insurer. Too many complaints can be a big red flag.

Filing an insurance claim is stressful enough, especially with a life insurance company. You want a provider that will make the process easier for your loved ones. Then you don’t have to worry about how they will get the money.

To evaluate each company, first, pick up the phone and call the customer service line with some questions. The associates should be knowledgeable and answer your queries without trying to oversell you.

In addition, review the company’s customer satisfaction scores from J.D. Power & Associates as well as complaints filed against the company with state regulators. Finally, check the company’s history with the Better Business Bureau and review any complaints you may see on file.

Related: Buy the Best Life Insurance in 7 Easy Steps [The Ultimate Guide]

Determine How Much Insurance You Need

There is no cut and dried answer for how much life insurance you should get. However, there is a rule of thumb that recommends getting eight to 10 times your current annual salary. You may end up needing more or less coverage depending on your particular situation.

One of the factors to consider is whether you have any coverage through your current job. Some companies offer one to two times an employee’s annual salary at no cost. Check with your Human Resources department. Other considerations include:

  • the ages of your kids
  • your spouse’s income (or lack thereof)
  • how much debt you have
  • your estate plans

There are online calculators available that can help you get a ballpark estimate. Just fill out a few questions about your family’s finances and get an estimate of the coverage you actually need.

Related: The Different Types of Insurance and What Insurance You Need

The Bottom Line

If you have people who depend on you, getting a term life insurance policy can be a good investment. Having something in place will help you rest easy at night. That’s because you’ll know your loved ones will be covered in case something happens to you.

Before you purchase a life insurance policy, make sure you do your research. Look at different providers and compare policy options to find the best fit for your particular situation. Get at least three quotes before making your final decision.

No one will ever consider life insurance shopping to be a rollicking good time. But using any of the sites on this list can help take the sting out of this dreaded financial task. And it’s good to know your family has a protection plan in case anything happens to you.

Do you have term life insurance? What has been your experience?

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  1. Avatar Jim @ Route To Retire says:

    Nice post! I bought my policy (and my wife’s) through my insurance agent a handful of years ago and think I did pretty well on it. I’ve actually never thought about running the numbers again, but it might be worth checking out some of these suggestions to see if I can get a better rate.

    Thanks, PT!

    — Jim

  2. Avatar Steven Goodwin says:

    Some interesting companies you have here. I started out just grabbing a term policy through my insurance agent, that was a mistake. Once I smartened up, I went through Zander Insurance and ended up cutting my rate in half for the same policy and extended it by about a year due to when I took the policy out. It was a really easy way to get it done and they sent someone out to the house and everything! I might have to run some quotes for my wife through these other options as well since we need to up her policy anyways as she’s making more money now. I’ve always tried to keep 10-12x our income in insurance with around a 20 year term. Thanks for the suggestions!

    1. Avatar Philip Taylor says:

      I used Zander too way back in the day to get a quote. https://ptmoney.com/buy-life-insurance/ Ended up going another direction (with my bank at the time), but they are certainly recommended as one of the top brokers.

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