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The Best Online Life Insurance Agencies/Companies of 2022

Core to any path for finding financial independence is having the life insurance coverage best-suited to your life circumstances and needs.

Quite often, coverage offered by a term life insurance policy represents a powerful tool for guarding your dependents against untimely death and financial risk and ruin.

The coverage comes more affordable than alternative forms of life insurance and the marketplace contains numerous options for your consideration best-suited to your needs.

When it comes to finding the best life insurance company for your needs, this involves weighing multiple criteria, including financial strength of the backing insurer, the price and terms of the policy in question, and the quality of the customer service provided.

Numerous financial services companies which employ technology to assist a insurer with underwriting operate in this market to compete for your business, each offering highly homogenous products (life insurance to protect against death).

As a result, reviewing multiple companies for their quotes would serve as a good idea in the event one might offer better options than their competitors.

The following represent some of the best online term life insurance companies (meaning the financial services firms which provide your info to an insurer for underwriting) I’ve found online.  Review the summaries below for each company and then click through to the related reviews to learn more about each company’s products and services.

Best Life Insurance Agencies/Companies for 2022

Best Overall: Haven Life

Best for Fast Coverage: Bestow

Best for Low Cost: Ethos Life

Best Customer Ratings: Fabric

Of note, these companies do not underwrite insurance policies, merely the agents who create a simpler way to apply for term life insurance.

The actual policies get underwritten, issued and backed by insurers like North American, MassMutual, C.M. Life Insurance Company and others.

This practice is fairly standard, and is how most online competitors in this space operate.

haven life logo

Haven Life: Best Overall

Haven Life, with a streamlined application process, quoted as taking less than 30 minutes, allows applicants up to age 59 who qualify to buy up to $1,000,000 in coverage without a medical exam.

For its term life insurance products, while the company’s online application takes slightly more time than others listed here, Haven Life tends to offer extremely competitive rates to make up for the extra action.

In particular, Haven Life offers term life insurance for adults aged 59 and younger for up to $3,000,000. For those in the 60 to 64 age bracket, you can apply for a $1,000,000 term life insurance policy.

Read our Haven Life Review here.

Haven Term Policy Options

Products offeredTerm life insurance.
Term options10, 15, 20 and 30 years.
Age availability18 to 64.
Coverage range$100,000 - $3,000,000 (depending on product: Haven Term vs. Haven Term Simplified).
Medical exam required?A medical exam may not be needed for eligible applicants applying for up to $1,000,000 in coverage. Once an application is submitted, you will find out if a medical exam is needed to finalize your rate.
Can be denied for coverage?Yes.
Available inAll states except CA, DE, FL, ND, NY, and SD.
Riders and features offeredAccelerated death benefit (no additional cost), waiver of premium (added cost), and Haven Life Plus, a rider that gives customers in eligible states access to no additional cost benefits like an online legal will or a yearlong fitness app subscription.


bestow logo

Best for Fast Coverage: Bestow

Bestow commits to employing technology to provide competitive life insurance quotes to its customers.  It does so by relying on data and not needing medical examinations (as many life insurers require) in a bid to streamline life insurance approval and underwriting.

The company acts as an agency for North American Company, the actual policy provider.

Because Bestow offers an exceptional opportunity to enjoy a convenience-friendly (i.e., from your smartphone) term life insurance policy without having to take a medical examination nor submitting to any lab exams, you can ascertain whether they can help fulfill your needs sooner.

The policies offered by Bestow serve as an excellent option for individuals aged 18-60 looking for 10, 15, 20, 25, 30-year term life insurance.  In other words, primarily Gen-Zers, Millennials and Gen-Xers looking to provide coverage for themselves and their dependents easily and quickly.

Read our Bestow Review here.

Products offeredTerm life insurance.
Term options10, 15, 20, 25, 30-year
Age availability18 - 60
Medical exam required?No.
Can be denied for coverage?Yes.
Available inAll states except NY.


fabric life logo medium

Best Rated: Fabric

Fabric Insurance recently entered the life insurance space by offering both term life insurance policies and accidental death insurance.

Fabric operates as an online-first business and offers a customer service team of insurance agents who have received outstanding reviews for their prompt and professional insurance advice.

Fabric has a core term life insurance product offering called Premium. To remain competitive in the online term life insurance market, Fabric keeps the rates on this product in line with competitors.

Fabric’s term life insurance, Fabric Premium, has available term lengths of 10, 15 or 20 years in length. The insurance policy face values start with a minimum of $100,000 and a maximum of $5,000,000, increasing in increments of $50,000.

Fabric has received the most 5-star reviews from customers on TrustPilot (1,487 out of 1,754 total as of 7/21/2021) of the companies reviewed here.

Read our Fabric Review here.

Fabric Term Life Policy Options

Products offeredTerm life insurance and accidental death.
Term options10, 15 and 20 years.
Age availability18 to 60.
Coverage range$100,000 up to $5,000,000.
Medical exam required?May be required if more health information is needed. Better rates possible with medical exam.
Can be denied for coverage?Yes.
Available inAll states except MT, CA*, and NY*.
*Must purchase Fabric Instant (accidental death) first, then can purchase Fabric Premium.


ethos logo medium

Lowest Cost: Ethos

Ethos represents another new player in the online term life insurance market. The company has received major financial backing from notable names in the financing field like Sequoia Capital and Stanford University.

This diversified and well-backed insurance startup offers just as wide of a variety of term life insurance policies, ranging from 10 years to 30 years.

Like Bestow, Ethos also offers policies without a medical exam up to $1,000,000.  Additionally, for those in need of a larger insurance policy to meet their needs, Ethos also offers higher coverage policies for those who wish to submit to a medical exam.

Read our Ethos Review here.

Ethos Life Policy Options

Products offeredTerm life insurance.
Term options10, 15, 20 and 30 years.
Age availability18 to 75.
Coverage range$100,000 up to $1,500,000.
Medical exam required?May be required on policies of $1,000,000 or more if more health information is needed.
Can be denied for coverage?Yes.
Available inAll states except NY.

How to Choose the Best Life Insurance Company for You

Before examining the policy details, it would make for a smart decision to review the companies offering the policies first.  Understand their financial strength and ability to fulfill their financial obligation for the policy, review their customer satisfaction scores, get prices, and review their product offerings.

Understand financial strength and ability to fulfill their obligation

Financial strength remains essential for life insurance companies because you purchase life insurance for a long-term guarantee many years from now.

When it comes time to submit a payment claim down the road, you will want the insurer to exist and have the financial wherewithal to honor those claims against the policy.

  • To understand the financial strength of insurers, credit rating agencies review insurers’ financial statements regularly (e.g., Fitch, Standard & Poor’s (S&P), A.M. Best, Moody’s, etc.).
  • I would suggest only considering those insurers considered “investment grade” because this demonstrates clear prioritization of maintaining a pristine financial condition.

Review customer satisfaction scores

Naturally, when making an informed purchase decision, you want to read the reviews of other customers who have used a product or service.

Because the other customers’ experiences can help you decide whether you want to do business with a company, you should make it a point to root around for clues about how the company’s brand and reputation fare in the public domain. To learn more about a company’s reputation, consider looking through:

  • Scores from J.D. Power. This independent ratings firm publishes customer satisfaction scores for over twenty of the largest life insurers annually.
  • Complaints filed against the company with state regulators, the Better Business Bureau (BBB), or any other formal agency assigned to recording such matters.

Get prices

The cost of coverage varies among companies, therefore, you should compare prices to get the best deal for your circumstances.  Some life insurers offer a one-size-fits-all policy which does not necessarily customize to your unique needs and situation.

This could come complete with added insurance riders and endorsements you might not need.

Once you have shopped around and gotten a better understanding of what each policy costs and covers, you can verify the information on the insurance declaration page (DEC page), which details your important policy information.

  • Review your personal insurance needs and do not price compare apples-to-oranges policies.
  • Identify if the policy covers what you need and not what the insurer wants, thereby right-sizing your insurance needs.

Evaluate product selection

Just because life insurance aims to accomplish one primary goal: transferring the financial risk of death, does not mean numerous flavors of life insurance do not exist.

In fact, some insurers may sell similar policies, while others focus more on certain products, such as whole life insurance or term life insurance or even on certain customers, such as Millennials.

When conducting your life insurance policy search, having general knowledge about the type of life insurance you will want to purchase can go a long way toward filtering many companies from your radar.

You can learn more about the product offerings of the life insurance companies listed by clicking on the links shown below each insurer.

  • Filter for the type of life insurance product you need (e.g., whole-life vs. term life).
  • Target those companies which cater to each of these products.


family walking along pier sunset

How to Comparison Shop for Life Insurance

After walking through the primary concerns above, the next step involves comparison shopping for life insurance.  Make no mistake about it, this can be annoying.

Fortunately, with the advent of the internet, one remarkable feature from shopping for life insurance in the past comes from no longer needing to talk to an agent/salesperson to get a quote.

To align their sales pitches more with the increasingly on-demand nature of our society, online life insurance companies have made changes to how we purchase life insurance. Buying life insurance you need to provide financial comfort to your family has never been easier as a result.

Though, with all good developments, some challenges come along with them.  For instance, this ease of receiving an online quote has also led to a growing range of options.

Having a wide set of companies to review can pose a daunting task. Luckily, as observed previously, the process for receiving a life insurance quote at most companies has become quick and painless.  Regardless, knowing where to shop can still prove a hassle.

Because of this, we have curated a list of top online companies that sell life insurance to save you time and effort.  To make this list, the companies included must make shopping for life insurance easy by keeping the process online and quick.

And remember, getting a quote doesn’t cost you anything! Check out our list below!

Best Online Life Insurance Agencies - 2020

BestowHaven LifeFabricEthos
bestow life insurancehaven life insurance logo 1fabric life insurance
ethos life insurance
Products offered?Term life insurance only.Term life insurance only.Term life insurance and accidental death.Term life insurance.
Term options10 and 20 years.10, 15, 20 and 30 years.10, 15 and 20 years.10, 15, 20 and 30 years.
Age AvailabilityFor 20-year policies, 21 to 45 (21 to 43 for male tobacco users); for 10-year policies, 21 to 54.18 to 64.18 to 60.18 to 75.
Coverage amount availableUp to $1,000,000 for 10- and 20-year terms.$100,000 up to $3,000,000.$100,000 up to $5,000,000.$100,000 up to $1,500,000.
Medical exam required?No.Depends. A medical exam may not be needed for eligible applicants applying for up to $1,000,000 in coverage. Once an application is submitted, you will find out if a medical exam is needed to finalize your rate. Depends. May be required if more health information is needed. Better rates possible with medical exam.Depends. May be required on policies over $1,000,000 or if more health information is needed.
Can be declined for coverage?Yes.Yes.Yes.Yes.
Available inAll states except NY.All states except CA, DE, FL, ND, NY, and SD.All states except MT, CA*, and NY*.All states except NY.
*Must purchase Fabric Instant (accidental death) first, then can purchase Fabric Premium.
Prices, products offered and coverage terms effective as of publication.

Who Should Shop For Life Insurance Online?

Many seek to do business online for a good deal of their financial needs these days.  Because Millennials and Gen-Xers have grown up in an era of the internet, these generations will represent the most likely candidates to consider shopping for life insurance online.

Therefore, if you find yourself as a Millennial or Gen-Xers, have relatively good health, and know exactly what you need from an insurance plan, then shopping for life insurance online makes sound financial sense.

If you know you want a good deal on a product you need, comparison shopping for life insurance online would make for a wise use of your time.  Shop around for the lowest premium for the amount of term life insurance coverage you need.

managing a portfolio of investments

What If I Get Denied?

In the case you receive a denial for a term life insurance policy, your next best bet would involve reaching out directly to a life insurance agent who can assist with navigating the underwriting process and getting your next-best rate.

Because most of the online life insurance companies outlined here (and not listed) rely on technology to screen their potential customers, you may not fall into their pre-defined criteria.  As a result, they will deny you coverage.

Know this does not mean you cannot receive insurance for your needs.  Instead, it likely represents a more complex situation than others desired by these companies and you would have better luck working directly with a life insurance agent.

This may also entail going through a medical examination to assess the risks of insuring you.

However, none of this means you cannot receive insurance for your needs.

Term vs. Whole Life

From the above, with little exception, these companies primarily offer term life insurance coverage.  Few of them offer other products like accidental death or whole life insurance coverage.

Term life insurance offers straightforward pricing and benefits, often resulting in the product becoming fairly ubiquitous and a commodity.

On the other hand, whole life may represent more risk to the insurance company, so the underwriting process may involve a more detailed assessment and analysis to insure you.

Because that policy lasts for your entire life, they will likely want more information about your medical history, risk factors, among many other variables. As a result, streamlining the whole life insurance application process can be a bit more difficult.

We find that term life insurance will cover most people’s needs, but in some instances, whole life makes more sense.  Visit my post for more information around whether term life insurance is worth it.

Final Thoughts

Shopping for life insurance rarely represents an inspiring experience.  After all, you want coverage to protect your loved ones should you die and still have need for continued financial support.

Therefore, shopping for life insurance often poses a daunting challenge, facing mortality but also not trying to pay too much.

While the list provided here does not provide a comprehensive listing of all online life insurance companies, it does represent some of the better-rated companies in the space.

When reviewing the above companies, remember shopping around works to your benefit because none of these cost money to receive a free insurance quote.  Quite often, you also have the ability to receive a free quote in under 15 minutes, saving you precious time and patience.

In other words, set aside time to shop around and get multiple quotes.  Assess the measures discussed above and make sure you get the best premiums for your life insurance needs.


*Haven Term Simplified is a Simplified Issue Term Life Insurance Policy (ICC19PCM-SI 0819 in certain states, including NC) issued by the C.M. Life Insurance Company, Enfield, CT 06082 and offered exclusively through Haven Life Insurance Agency, LLC. Policy and rider form numbers and features may vary by state and may not be available in all states. Our Agency license number in California is OK71922 and in Arkansas 100139527.

Haven Life Plus (Plus) is the marketing name for the Plus Rider which is included as part of the Haven Term policy. The rider is not available in every state and is subject to change at any time. Neither Haven Life nor MassMutual are responsible for the provision of the benefits and services made accessible under the Plus Rider, which are provided by third party vendors (partners).

Haven Term is a Term Life Insurance Policy (DTC and ICC17DTC in certain states, including NC) issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001 and offered exclusively through Haven Life Insurance Agency, LLC. Policy and rider form numbers and features may vary by state and may not be available in all states. In NY, Haven Term is DTC-NY. In CA, Haven Term is DTC-CA. Our Agency license number in California is OK71922 and in Arkansas, 100139527

About the Author

Riley Adams is the Founder and CEO of WealthUp (previously Young and the Invested). He is a licensed CPA who worked at Google as a Senior Financial Analyst overseeing advertising incentive programs for the company’s largest advertising partners and agencies. Previously, he worked as a utility regulatory strategy analyst at Entergy Corporation for six years in New Orleans.

His work has appeared in major publications like Kiplinger, MarketWatch, MSN, TurboTax, Nasdaq, Yahoo! Finance, The Globe and Mail, and CNBC’s Acorns. Riley currently holds areas of expertise in investing, taxes, real estate, cryptocurrencies and personal finance where he has been cited as an authoritative source in outlets like CNBC, Time, NBC News, APM’s Marketplace, HuffPost, Business Insider, Slate, NerdWallet, Investopedia, The Balance and Fast Company.

Riley holds a Masters of Science in Applied Economics and Demography from Pennsylvania State University and a Bachelor of Arts in Economics and Bachelor of Science in Business Administration and Finance from Centenary College of Louisiana.