If you’re a nurse, life insurance can help protect any loved ones who rely on your income. That’s why finding the right life insurance company is an essential part of financial planning.
We used industry data, pricing from our partners, and third-party ratings from AM Best and J.D. Power to pick the best life insurance companies for nurses. The best company for you will depend on lots of factors, like your age and coverage needs – but these top companies are a good place to start.
Best term life insurance: Banner Life Insurance Company and William Penn Life Insurance Company of New York
Best whole life insurance: MassMutual
Most affordable life insurance: Banner Life Insurance Company and William Penn Life Insurance Company of New York
Best no-medical-exam life insurance: Pacific Life
Best final expense insurance: Mutual of Omaha
If you’re ready to compare life insurance quotes and find the right coverage, Policygenius can help.
Methodology
Why you can trust our picks
Our recommendations are based on internal and external expert analysis, as well as our Policygenius Life Insurance Price Index, which uses real-time data from leading life insurance companies to determine pricing trends. When reviewing a life insurance company, our editorial team uses a proprietary scoring rubric with five factors — price, policy details, financial strength, transparency, and customer experience — to assign an unbiased rating between one and five stars. These ratings are also taken into consideration as part of our company recommendations. We don’t get paid for our reviews.
Our reviews and recommendations can help you find a reliable insurer for your family’s financial protection, but the best life insurance company for you depends on multiple factors. A licensed agent at Policygenius can support you during the application process to ensure you get the right coverage for your circumstances at the most competitive price.
Best term life insurance for nurses: The Banner Life family of companies
The best term life insurance for nurses is the Banner Life family of companies, which also does business as Banner Life and William Penn in some states. The Banner Life family of companies tops our list because it offers term limits up to 40-years and policies with up to $10 million in coverage for qualified applicants.
Best whole life insurance for nurses: MassMutual
2025 Policygenius award winner
MassMutual
4.9
All 50 states
Why we chose it
MassMutual’s whole life insurance plan provides a lifetime coverage option that builds cash value with the potential to earn dividends.
Pros and cons
Pros
Strong financial stability & good customer satisfaction ratings
Higher potential for dividends for whole life policyholders than many competitors
Term coverage has strong conversion privileges to permanent coverage
Cons
High term life premiums
The best whole life insurance for nurses comes from MassMutual. MassMutual’s whole life rates are more affordable than competitors, and it has a high financial strength rating from AM Best, which is especially important for permanent life insurance.
Most affordable life insurance for nurses: The Banner Life family of companies
We found that the Banner Life family of companies has some of the cheapest life insurance rates on the market. While average rates are low for healthy applicants, the Banner Life family of companies also offers affordable rates for certain pre-existing conditions, like diabetes or heart disease.
Best no-medical exam life insurance for nurses: Pacific Life
2025 Policygenius award winner
Pacific Life
4.8
All 50 states
No-medical-exam option
Why we chose it
Pacific Life offers some of the lowest rates for term life insurance across age brackets. It also has the most competitive rates for many health conditions and builds.
Pros and cons
Pros
Extremely affordable across age brackets
Affordable guaranteed universal life insurance option for people who need lifetime coverage
Favorable underwriting for many health conditions
Cons
Traditional term life not available in NY
There are better carriers for active duty military, people who have a history of alcohol abuse, and people who have been through bankruptcy
The best no-medical-exam life insurance for nurses comes from Pacific Life. Qualified applicants can apply for up to $3 million of coverage. If you’re under the age of 60, you’ll complete a health interview to determine if you can get accelerated approval without a medical exam. The insurer will review your profile to confirm — if you don’t have many health conditions or risk factors, you likely won’t have to take an exam.
Best final expense life insurance for nurses: Mutual of Omaha
Mutual of Omaha
4.5
No-medical-exam option
Why we chose it
Mutual of Omaha is a reputable company that offers a variety of life insurance products — including a no-medical-exam option — so that you can select the type of life insurance that best suits your needs.
Pros and cons
Pros
No-medical-exam options for older applicants
Strong financial and customer ratings
Cons
Policies are more expensive than average
Slow turnaround time
The best final expense life insurance company for nurses is Mutual of Omaha, thanks in part to its affordable rates. Mutual of Omaha also offers two coverage levels depending on your health — up to $25,000 in coverage for simplified coverage or up to $40,000 for preferred coverage.
Why nurses need life insurance
There are a few reasons why it’s a good idea for nurses to have life insurance.
Protecting your family: Life insurance can help your family cover expenses and avoid taking on more debt in the event of your unexpected death.
Paying off debt: Your dependents can use a life insurance payment to pay off any debts you might leave behind, like student loans, taxes, or a mortgage.
Supplementing employer insurance coverage: While you might get some life insurance through work, that kind of coverage typically isn’t enough to provide for your family.
If you’re not sure how much life insurance you need and how long your coverage should last, we can help. Our agents can go over your coverage options with you and walk you through the entire process.
How working as a nurse will affect getting life insurance
There’s nothing about being a nurse on its own that will affect your ability to get life insurance. That said, if you travel to certain countries outside of the U.S. for work, or if you’re a medical missionary, you might have a harder time finding life insurance.
Also, any medication you’ve been prescribed will show up on a prescription history check, so be sure to be honest about your health when you apply for coverage.
→ Learn more about how your job affects your life insurance rates
How much does life insurance cost for nurses?
The average cost of life insurance for a nurse is about $46 per month for a 20-term life policy with a $1 million death benefit payout.
Your exact rates ultimately depend on several factors, including your gender, age, and health. If you have limited or well-maintained health issues, you’ll likely be able to get the coverage you need at an affordable rate.
Term life insurance rates for nurses
The rates below offer an estimate for what you might pay for a 20-year term life insurance policy with a $1 million death benefit payout.
Age | Gender | $1 million coverage amount |
|---|---|---|
20 | Female | $32.38 |
Male | $44.72 | |
30 | Female | $35.48 |
Male | $45.94 | |
40 | Female | $58.49 |
Male | $71.45 | |
50 | Female | $131.18 |
Male | $174.90 | |
60 | Female | 354.88 |
Male | $500.52 |
Methodology: Average monthly estimated rates are calculated for male and female smokers and non-smokers in the Preferred health classification, obtaining a 20-year $1,00,000 term life insurance policy. Life insurance rates are based on policies offered by Policygenius from Brighthouse Financial, Corebridge Financial, Foresters Financial, Legal & General America, Lincoln Financial, Mutual of Omaha, Pacific Life, Protective, Prudential, Symetra, and Transamerica, and may vary by insurer, term, coverage amount, health class, and state. Not all policies are available in all states. Rate illustration valid as of 01/01/2024.
Whole life insurance rates for nurses
The following is an estimate for what you might pay for a whole life insurance policy with a $1 million death benefit payout.
Age | Gender | $1 million coverage amount |
|---|---|---|
20 | Female | $545 |
Male | $639 | |
30 | Female | $801 |
Male | $920 | |
40 | Female | $1,161 |
Male | $1,372 | |
50 | Female | $1,826 |
Male | $2,117 | |
60 | Female | $3,065 |
Male | $3,556 | |
70 | Female | $5,580 |
Male | $6,198 |
Methodology: Average monthly estimated rates are calculated for male and female insureds obtaining a whole life insurance policy of $1,000,000 from MassMutual. Life insurance rates are based on policies offered by Policygenius and may vary by insurer, term, coverage amount, health class, and state. Not all policies are available in all states. Rate illustration valid as of 01/01/2024.
Final expense life insurance rates for nurses
The following is an estimate for what you might pay for a $25,000 final expense life insurance policy.
Age | Gender | $25,000 coverage amount |
|---|---|---|
50 | Female | $74.47 |
Male | $98.96 | |
60 | Female | $105.21 |
Male | $140.69 | |
70 | Female | $158.19 |
Male | $215.16 |
Methodology: Average monthly estimated rates are calculated for male and female insureds obtaining a final expense life insurance policy of $25,000 from Mutual of Omaha. Life insurance rates are based on policies offered by Policygenius and may vary by insurer, term, coverage amount, health class, and state. Not all policies are available in all states. Rate illustration valid as of 01/01/2024.
→ Learn more about life insurance rates
