Online Life Insurance (Compare Rates and Coverage Options)

Clifford PendellWritten by Clifford Pendell
middle aged couple riding bikes

There are hundreds of insurance companies in the United States, but only a handful of providers offer online life insurance with immediate coverage.

Also known as instant issue life insurance, these policies provide affordable life insurance coverage that can be purchased from the privacy of your home in as little as 15 minutes. 

If you need life insurance in a hurry, or would rather avoid insurance agents, medical exams, underwriters, etc. this article will tell you everything you need to know about online life insurance and the providers that offer it. You can also select your state from the map below to instantly compare your options.

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*Product/company availability varies by state. On the next screen, you will see a list of providers that are offer life insurance products online in your state.

Can You Buy Life Insurance Completely Online?

Some highly-rated insurance companies offer policies that can be purchased online without meeting with an insurance agent. To apply for a life insurance policy online, all you need to do is complete an electronic application and answer some health and lifestyle questions. No medical exams are required for an approval.

Most online life insurance policies are approved and issued instantly which makes them ideal for business owners that need to collateralize a small business loan. Purchasing instant issue life insurance online is also convenient for busy executives, truck drivers, world travelers, or anyone that can't stand the thought of having their blood drawn.

Is There Any Life Insurance that Starts Immediately?

Most online life insurance policies offer immediate coverage when your application is approved. These policies are also known as instant issue because the entire process takes about 20 minutes to complete. As soon as you're approved, you will receive a copy of your policy by email and a confirmation that your coverage is active.

Term insurance is the most popular form of life insurance sold online. It offers level premiums and fixed coverage for a period of 10 to 30 years. These policies are commonly purchased by the family breadwinner to provide a source of income replacement for their loved ones, or secure the mortgage until the balance is paid off.

Some whole life insurance providers also offer instant issue life insurance without a medical exam, but these policies are typically limited to $50,000 of coverage because they are usually purchased to cover burial expenses. To learn more about whole life insurance, please see our article, "What is Whole Life Insurance and How Does it Work?"

Best Online Life Insurance Companies

Our independent agency represents 63 top-rated life insurance providers, but only a handful of these companies offer instant issue life insurance that can be purchased online. Most providers offer accelerated underwriting, which does not require a medical exam, but these policies can still takes weeks to get approved and issued.

CompanyIssue AgesPolicy LengthCoverage
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Legal & General logo AM Best: A+ From: 20
To: 60
10 Years -
40 Years   
$100,000 -
$1,000,000   
corebridge financial logo AM Best: A From: 20
To: 60
10 Years -
35 Years   
$100,000 -
$3,000,000   
encova life logo AM Best: A From: 16
To: 70
10 Years -
20 Years   
$25,000 -
$500,000   
foresters financial logo AM Best: A From: 18
To: 75
10 Years -
30 Years   
$50,000 -
$400,000   
Mutual of Omaha logo AM Best: A+ From: 18
To: 70
10 Years -
30 Years   
$25,000 -
$300,000   
SBLI logo AM Best: A- From: 18
To: 55
10 Years -
20 Years   
$100,000 -
$1,000,000   
Symetra financial logo AM Best: A From: 20
To: 60
10 Years -
30 Years   
$100,000 -
$3,000,000   

Here's brief overview of the best online life insurance companies that offer instant issue life insurance and a link to apply for coverage:

1. Banner Life/William Penn

banner-life-insurance-logo

Banner Life and William Penn are owned by Legal & General, a publicly traded company that was founded in 1836. Legal & General is the 6th largest life insurance provider in the world, and they operate as William Penn in New York and New Jersey. Throughout the rest of the United States, Legal & General is known as Banner Life.

William Penn and Banner Life are both A+ (Superior) rated by AM Best and the provider was named “Life Insurance Provider of the Year” in 2021 at the Consumer Moneyfacts Awards. Legal and General currently operates in North America, Europe, and Asia, managing over $780 billion of in force coverage.

With Banner, qualified applicants between the ages of 20 and 50 are eligible for up to $1,000,000 of simplified term life insurance without a medical exam. Here’s a breakdown of the policies they currently offer to each age group:

Banner’s No Exam Policy Limits:

  • Ages 20 to 50: $100,000 - $1,000,000
  • Ages 51 to 60: $100,000 - $500,000

Their term policies are available for 10, 15, 20, 25, 30, 35, or 40 years and they specialize with applicants that are in average (standard plus) health or better. Like other no-exam life insurance providers, Banner requires a brief phone interview before approving an application.

If you are in good health and under the age of 50, Legal & General is probably your best option for no-exam coverage. They’re “Preferred Best” rate class is available to no-exam applicants, and the company’s guidelines are very lenient when compared to other providers.

banner-life-insurance-logo-banner

2. Corebridge Financial

corebridge-logo-1

Corebridge Financial (formerly known as AIG) is a publicly-traded company that was founded in 2022. They manage more than 350 billion dollars in assets and have been rated by A.M. Best as an A- (Excellent) for their financial strength. As of January 2024, Corebridge offers up to $3,000,000 of instant issue term life insurance.

Qualified Individuals between the ages of 20 to 60, can purchase as little as $100,000 or as much as $3,000,000 in term life insurance coverage without a medical exam. Most applicants are approved within 24 to 48 hours and an electronic copy of your policy will be emailed to you in less than a week.

Corebridge offers some of the most height and weight allowances in the industry. As an example, an applicant with a BMI of up to 31.5 can qualify for a preferred rate class. The company has also challenged their competitors by typically offering the lowest rates to those considered to be in excellent health.

Corebridge's No Exam Policy Limits:

  • Ages 20 to 60: $100,000 - $3,000,0000

Corebridge doesn’t require a phone interview or a medical exam for an approval. Applicants can submit their application online in less than 20 minutes. The company offers 10, 15, 20, 25, 30 and 35-year term policies and their products are available in every state.

corebridge-financial-banner-logo

3. Encova Life

encova-life-insurance-logo

Encova was aquired by the Pan-American Life Insurance Group (PALIG) in May, 2023. PALIG was founded more than 110 years ago and they currently provide life insurance to more than 7.1 million individuals. The company employs 2,100 people across 22 countries and are rated A (Excellent) by AM Best for their financial stability.

With Encova Life, up to $500,000 of instant issue term life insurance is available to qualified applicants between the ages of 16 and 70. These policies do not require a medical exam or a phone interview for approval, and they can be converted into permanent life insurance coverage until the term ends or when the policyholder reaches turns 70. 

The company also offers electronic underwriting that allows them to approve a qualified applicant in as little as 20 minutes. The downside to Encova is that their products are not available in every state, but now that they have partnered with PALIG, we expect their presence to continue expanding. 

Encova's No Exam Policy Limits:

  • Ages 16 to 70: $25,000 - $500,000

Encova currently offers 10, 20, and 30-year level terms without a medical exam. 30-year terms are availabe to eligible applicants until age 48. The company offers 20-year terms to individuals until age 65, and 70-year terms until age 70. Unfortunately, Encova's life insurance policies are not available in every state. 

encova insurance logo banner

4. Foresters Financial

foresters-financial-logo

Foresters Financial is an "A" rated life insurance provider that was founded in 1874. The company offer a variety of term and permanent life insurance products to residents of the United States, Canada, and the United Kingdom. Currently, Foresters offers up to $400,000 of term insurance, $250,000 of universal life, and $50,000 of whole life without an exam.

The Canadian-based company offers one of the fastest approval times in the industry, and most qualifed applicants will receive an approval within 20 minutes of submitting their application. Policyholders can also set a specific date for their policy's premiums to be drafted when applying.

The company is known for their lenient underwriting with health conditions like well-controlled type II diabetes, elevated blood pressure, and obesity. For example, a 6-foot tall male applicant could weigh up to 232 pounds and still qualify for standard life insurance rates without a medical exam.

Foresters' No Exam Policy Limits:

  • Ages 18 to 55: $50,000 - $400,000
  • Ages 56 to 75: $50,000 - $150,000

Foresters policies include a free accelerated death benefit that allows the insured to access a portion of their policy's death benefit if they are diagnosed with a terminal illness. Other available add-ons include a family health benefit rider if an immediate family member is affected by a natural disaster, an accidental death rider, and a charity benefit provision.

foresters-financial-logo-banner

5. Mutual of Omaha

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Mutual of Omaha is a Fortune 500 Company that has been operating since 1909. The provider is A+ (Superior) rated by AM Best, and they currently manage more than $45.1 billion in assets. In 2022, they employed more than 5,800 people and provided life insurance to more than 5.1 million individuals and 51,000 employer groups.

In 2016, Mutual of Omaha introduced their Term Life Express policy which offers up to $300,000 of coverage without a medical exam. While their instant issue policies do not offer the most coverage, they do offer some valuable living benefits. These benefits can provide financial assistance if you become terminally ill or require nursing care.

The company also offers two whole life insurance products, depending on the applicant's health. Their final expense policies provide up to $25,000 of coverage with no health questions, and their whole life insurance products can offer up to $50,000 to individuals in average or better health, neither policy requires an exam for approval.

Mutual of Omaha's No Exam Policy Limits:

  • Ages 18 to 70: $25,000 - $300,000

In addition to offering life insurance and retirement solutions, Mutual of Omaha is also recognized for their TV series, 'Wild Kingdom.' They have also been named as one of the "Best Companies to Work For" by numerous organizations including Fortune Magazine in April, 2023.

mutual of omaha logo banner

6. Savings Bank Life Insurance

savings-bank-life-insurance-logo

The Savings Bank Mutual Life Insurance Company, or SBLI, is an A (Excellent) rated insurer that has been operating since 1907. While they are not known as an online life insurance provider, they do offer 10, 15, 20-year terms with up to $1,000,000 of coverage. These policies are available to applicants aged 18 to 55 and no medical exam is required.

With SBLI, the policyholder also has the option to keep their life insurance coverage active after their term has expired. The company's Simple Term policies are annually renewable until the age of 85, and can be converted into permanent coverage until the term expires or before the policyholder turns 70.

Having the ability to convert your term into permanent coverage can be invaluable for someone who develops a health issue that would make them otherwise insurable. Suprisingly, many instant issue life insurance providers like Bestow and Ladder do not offer this option with the term policies they sell. 

SBLI's No Exam Policy Limits:

  • Ages 18 to 50: $100,000 to $1,000,000
  • Ages 51 to 55: $100,000 to $500,000

The Savings Bank Mutual Life Insurance company is a mutual company which means that it is owned by it's policyholders, not investors. The company currently manages more than $1.5 billion in assets and their life insurance products are available to residents of every state except Connecticut.

sbli life insurance logo banner

7. Symetra Financial

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Symetra's SwiftTerm policy offers up to $3,000,000 of instant issue life insurance to eligible applicants aged 18 to 50, and up to $2,000,000 for applicants aged 51 to 60. No medical exams or telephone interviews are required for approval, but the company will electronically review your medical records, prescription history, and MVR reports. 

The company originally began as a subsidiary of Safeco in 1957. In 2016, Symetra was acquired by the Japanese life insurance provider, Sumitomo Life for $3.8 billion. Today, the company manages $58.6 billion in assets and is rated A (Excellent) by AM Best for their financial outlook and stability.

Symetra's No Exam Policy Limits:

  • Ages 18 to 50: $100,000 - $3,000,000
  • Ages 51 to 60: $100,000 - $2,000,000

In addition to life insurance, Symetra also offers group life and disability insurance, group supplemental health insurance, stop loss coverage, and annuities. The provider currently has more than 1.7 million customers, employs more than 2,000 people, and manages more than $58.6 billion in assets. 

symetra life insurance logo banner

How Much Does Online Life Insurance Cost?

The shortest term available with most life insurance companies is ten years. During this time, your rates are guaranteed, regardless of any changes to your health. Below we've provided some actual life insurance rates by age and gender.

Instant Issue Life Insurance Quotes for A Female (10-Year Term)

Age$50,000$100,000$250,000$500,000$750,000$1,000,000
30$6.83$7.10$8.59$10.87$12.62$15.13
35$7.26$7.22$8.94$11.78$14.00$16.03
40$7.92$7.97$10.83$15.16$19.09$23.62
45$8.96$9.94$15.04$23.58$31.81$37.10
50$11.31$12.90$19.96$32.69$45.21$56.29
55$14.53$17.51$27.86$49.42$70.73$89.56
*Displayed monthly rates are accurate as of 01/08/2024 are are provided for illustrative purposes only.

Instant Issue Life Insurance Quotes for A Male (10-Year Term)

Age$50,000$100,000$250,000$500,000$750,000$1,000,000
30$7.66$7.79$9.77$13.03$15.90$17.69
35$7.66$7.96$9.81$13.46$17.17$19.39
40$8.48$8.59$11.92$17.32$22.92$26.15
45$10.14$11.02$16.86$27.17$37.56$43.34
50$13.09$14.21$23.15$39.68$56.68$68.66
55$17.27$20.64$36.74$66.68$96.82$120.86
*Displayed monthly rates are accurate as of 01/08/2024 and are provided for illustrative purposes only.

After you apply online, you'll have an option to view you rates and confirm coverage before you are billed for your policy. If you have buyer's remorse, don't worry, most life companies provide you at least 30 days to cancel your policy with a full-refund.

Should I Get Term Life or Whole life?

Before you decide on term life insurance or whole life insurance, you'll want to consider the reason or reasons you are shopping for life insurance.

Term life insurance provides the most coverage for the least amount of money and is sold in 5-year increments. If you want to provide a source of replacement income for your family, consider the number of years until you plan to retire, or the number of years until you expect your children to become financially independent.

Some people also determine their policy's term by considering their financial obligations, like paying off their home, or sending their children to college. In these situations, its best to buy a term policy that will extend past the number of years that you expect to have these debts or obligations.

If you still need some coverage after your term has ended, you may be able to convert your term into permanent coverage. However, it’s still important to structure your policy around your needs. Once your term has ended, your remaining financial obligations and debt should be minimal.

The Case for Whole Life Insurance

If you're only reason for purchasing life insurance to leave an inheritance, fund a trust, or provide money for your final expenses, we recommend avoiding term insurance. In these situations, do not risk outliving your policy, even if your term policy offers a conversion option.

Instead, secure an affordable permanent policy and lock in your rates for the rest of your life. Traditional whole life insurance policies generally offer up to $50,000 of coverage that is guaranteed until the age of 100 or later.To learn more about whole life insurance it's alternatives, please see our article,"Is Whole Life Insurance Right for You?"

How We Can Help

JRC Insurance Group is an independently-owned life insurance agency that represents 63 top-rated life insurance companies. By working with a variety of companies, we're able to shop the market on your behalf, allowing us to match you with the best life insurance policy for your needs.

Our shopping service is free and there is no cost to apply. To learn more about your options for coverage before you apply online, call us toll-free at 855-247-9555, or request a free instant online quote for life insurance below to compare rates from almost dozens of insurance providers.

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Written by:

Clifford Pendell

Clifford Pendell

Managing Partner and Co-founder

Cliff is a licensed life insurance agent and one of the owners of JRC Insurance Group. He has helped thousands of families of businesses with their life insurance needs since 2012 and specializes with applicants who are less than perfect health. In his spare time he enjoys spending time with family, traveling, and the great outdoors.

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