Cheapest Life Insurance Companies of 2023

Life insurance is an important investment that provides financial protection for your loved ones in the event of your unexpected passing. While cost shouldn’t be the only factor when choosing a life insurance policy, it’s still an important consideration for many people. In this article, we’ll take a look at the cheapest life insurance companies of 2023, based on their rates for a 30-year-old non-smoker in good health.

Haven Life

Haven Life is a digital life insurance company that offers competitive rates for term life insurance policies. It is known for its streamlined online application process and quick underwriting, which allows many applicants to receive a decision within minutes. Haven Life’s rates for a 20-year term policy with a $500,000 death benefit start at just $16.63 per month.

Ethos

Ethos is another digital life insurance company that offers affordable term life insurance policies. It is known for its fast and easy online application process and transparent pricing. Ethos’ rates for a 20-year term policy with a $500,000 death benefit start at just $18.30 per month.

Bestow

Bestow is a digital life insurance company that offers affordable term life insurance policies. It is known for its easy and fast online application process, which takes just a few minutes to complete. Bestow’s rates for a 20-year term policy with a $500,000 death benefit start at just $19.58 per month.

Policygenius

Policygenius is a life insurance marketplace that allows users to compare rates from multiple insurance companies. It is known for its user-friendly platform and helpful customer service. Policygenius’ rates for a 20-year term policy with a $500,000 death benefit start at just $19.86 per month.

AIG Direct

AIG Direct is a traditional life insurance company that offers affordable term life insurance policies. It is known for its financial stability and long-standing reputation in the insurance industry. AIG Direct’s rates for a 20-year term policy with a $500,000 death benefit start at just $20.00 per month.

It’s important to note that life insurance rates can vary widely depending on your age, health, and other factors. These rates are based on a 30-year-old non-smoker in good health, so your rates may be higher or lower depending on your specific situation. Additionally, it’s important to consider factors beyond just cost when choosing a life insurance policy, such as the financial stability of the insurance company, the policy’s terms and conditions, and the level of customer service provided.

In conclusion, Haven Life, Ethos, Bestow, Policygenius, and AIG Direct are among the cheapest life insurance companies of 2023. While cost is an important consideration, it’s also important to consider other factors when choosing a life insurance policy. Take the time to compare rates and policies from multiple companies to find the right policy for your needs and budget.