Best life insurance for nurses: What you need to know
The best life insurance companies for nurses are Legal & General America, MassMutual, Brighthouse Financial, and Mutual of Omaha.
By
Tory CrowleyTory CrowleyAssociate Editor & Licensed Life Insurance AgentTory Crowley is an associate life insurance and annuities editor and a licensed insurance agent at Policygenius. Previously, she worked directly with clients at Policygenius, advising nearly 3,000 of them on life insurance options. She has also worked at the Daily News and various nonprofit organizations.&Andrew HurstAndrew HurstSenior Editor & Licensed Auto Insurance ExpertAndrew Hurst is a senior editor at Policygenius who has spent his entire career writing about life, disability, home, auto, and health insurance. His work has been featured in The New York Times, The Wall Street Journal, the Washington Post, Forbes, USA Today, NPR, Mic, Insurance Business Magazine, and Property Casualty 360.
Edited by
Antonio Ruiz-CamachoAntonio Ruiz-CamachoAssociate Content DirectorAntonio is a former associate content director who helped lead our life insurance and annuities editorial team at Policygenius. Previously, he was a senior director of content at Bankrate and CreditCards.com, as well as a principal writer covering personal finance at CNET.
Expert reviewedExpert reviewedThis article has been reviewed by a member of ourFinancial Review Council to ensure all sources, statistics, and claims meet the highest standard for accurate and unbiased advice.Learn more about oureditorial review process.
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.
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 scoringrubric 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: Legal & General America
2024 Policygenius award winner
Legal & General America
Policygenius rating
Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.
4.9
AM Best rating
AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A+
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
$
$
$
$
$
30+ year terms
All 50 states
No-medical-exam option
Why we chose it
Legal & General America, which also does business as Banner Life and William Penn, has some of the longest term lengths — up to 40 years — and most competitive life insurance rates available, even for people with a history of medical conditions.
Pros and cons
Pros
Competitive rates for a variety of health conditions
Fast instant-decision option for qualifying applicants
Variety of term lengths up to 40 years
Cons
Application underwriting can take longer than average
Does not have the most competitive rates for older applicants
The best term life insurance for nurses is Legal & General America, which also does business as Banner Life and William Penn in some states. Legal & General America tops our list because it offers term limits up to 40-years and policies with up to $10 million in coverage for qualified applicants.
What is term life insurance?
Term life insurance is the cheapest and most practical type of life insurance for most people. Here’s how it works: If you die during the time your policy is active — its “term” — your family receives a payment.
Best whole life insurance for nurses: MassMutual
2024 Policygenius award winner
MassMutual
Policygenius rating
Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.
4.9
AM Best rating
AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A++
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
$
$
$
$
$
All 50 states
Why we chose it
MassMutual’s whole life insurance plan provides a lifetime coverage option that builds cash value with the potential to earn dividends.
Pros and cons
Pros
Strong financial stability ratings
Higher potential for dividends for whole life policyholders than many competitors
The best whole life insurance for nurses comes from MassMutual. MassMutual’s whole life rates are more affordable than competitors, and it has a high financial strength rating from AM Best, which is especially important for permanent life insurance.
What is whole life insurance?
Whole life insurance might be right for you if you want to use your life insurance as an investment, or provide for dependents with lifelong needs. Whole life insurance never expires and comes with a cash value component that gains interest over time. If you’re already maximizing your contributions to tax-advantaged accounts like a Roth IRA or a 401(k) and are seeking another investment option, whole life insurance might work for you.
Most affordable life insurance for nurses: Legal & General America
2024 Policygenius award winner
Legal & General America
Policygenius rating
Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.
4.9
AM Best rating
AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A+
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
$
$
$
$
$
30+ year terms
All 50 states
No-medical-exam option
Why we chose it
Legal & General America, which also does business as Banner Life and William Penn, has some of the longest term lengths — up to 40 years — and most competitive life insurance rates available, even for people with a history of medical conditions.
Pros and cons
Pros
Competitive rates for a variety of health conditions
Fast instant-decision option for qualifying applicants
Variety of term lengths up to 40 years
Cons
Application underwriting can take longer than average
Does not have the most competitive rates for older applicants
We found that Legal&GeneralAmerica has some of the cheapest life insurance rates on the market. While average rates are low for healthy applicants, Legal & General America also offers affordable rates for certain pre-existing conditions, like diabetes or heart disease.
Best no-medical exam life insurance for nurses: Brighthouse Financial
2024 Policygenius award winner
Brighthouse Financial
Policygenius rating
Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.
5.0
AM Best rating
AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
$
$
$
$
$
No-medical-exam option
Why we chose it
Brighthouse Financial offers competitive rates, comprehensive coverage, and application decisions in as little as 24 hours, making it a great choice for people who want to get life insurance coverage without having to take the medical exam.
Pros and cons
Pros
Extremely affordable
Instant-decision applications
Best-in-class no-exam option
Cons
Traditional term life not available in CA, IL, LA, ME, or NY
The best no-medical-exam life insurance company for nurses is BrighthouseFinancial. If you’re eligible for a no-med policy, you may be able to get up to $3 million in coverage without taking a medical exam. You may even be able to get a policy in one phone call.
How does no-medical exam life insurance work?
You answer health questions by phone instead of in an in-person exam, then the insurance company reviews your answers to determine whether you’re eligible — it’s best for healthy applicants with few risk factors.
Best final expense life insurance for nurses: Mutual of Omaha
Mutual of Omaha
Policygenius rating
Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.
4.5
AM Best rating
AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A+
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
$
$
$
$
$
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.
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.
What is final expense life insurance?
If you can’t get standard life insurance coverage, final expense coverage is a good way to pay for end-of-life costs, like funeral and burial expenses. This type of coverage is permanent (meaning it lasts for the rest of your life) and usually offers a death benefit between $10,000 and $40,000.
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.
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.
What do our licensed experts say?
“As a licensed agent, I’ve helped multiple healthcare workers apply for life insurance. In some cases, a medication they tried in the past affected their insurance offers — even if that medication didn’t represent their overall health." - Tory Crowley
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
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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
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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
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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.
Tory Crowley is an associate life insurance and annuities editor and a licensed insurance agent at Policygenius. Previously, she worked directly with clients at Policygenius, advising nearly 3,000 of them on life insurance options. She has also worked at the Daily News and various nonprofit organizations.
Andrew Hurst is a senior editor at Policygenius who has spent his entire career writing about life, disability, home, auto, and health insurance. His work has been featured in The New York Times, The Wall Street Journal, the Washington Post, Forbes, USA Today, NPR, Mic, Insurance Business Magazine, and Property Casualty 360.
Antonio is a former associate content director who helped lead our life insurance and annuities editorial team at Policygenius. Previously, he was a senior director of content at Bankrate and CreditCards.com, as well as a principal writer covering personal finance at CNET.
Ian Bloom, CFP®, RLP®, is a certified financial planner and a member of the Financial Review Council at Policygenius. Previously, he was a financial advisor at MetLife and MassMutual.