Life insurance premiums vary from person to person in Wisconsin, and can depend on your personal characteristics, such as smoking or using tobacco products—or engaging in high-risk behaviors or having a high-risk job.
We’ve compiled a list of Wisconsin's top life insurance companies to help you find the best company and policy based on your needs.
We used industry data, pricing from Policygenius carrier partners, and third-party ratings like AM Best and J.D. Power to pick the best insurers on the market. Our independent recommendations will help you get life insurance coverage with confidence.
Best life insurance companies in Wisconsin
Best overall: Legal & General America
Cheapest: Legal & General America
Best term life insurance: Legal & General America
Best no-medical-exam life insurance: Pacific Life
Best whole life insurance: MassMutual
Best for seniors: Prudential
Best for young adults: Legal & General America
Best for people with pre-existing conditions: Lincoln Financial
Best for marijuana users: Lincoln Financial
Best for smokers: Legal & General America
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 overall life insurance
2025 Policygenius award winner
Legal & General America
4.9
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
Financial resources, competitive rates, and an easy application process are some of the reasons we chose Legal & General America, which also does business as Banner Life and William Penn, as the best overall life insurance company in Wisconsin. In addition, Legal & General America offers an easy no-medical-exam application process with approval in less time than other insurance companies.
Cheapest life insurance
Legal & General America
With the cost of everything constantly going up, you don’t want to pay more for life insurance than necessary. That’s why we chose Legal & General America as the best choice for cheap life insurance. Since lifestyle choices and personal data affect the cost of life insurance, Legal & General America is also a great selection for people with medical conditions and those who use tobacco.
Best term life insurance
Legal & General America
Most people only need life insurance for a specific length of time. If you have children and want to ensure they're provided for in the event of your death, a term life insurance policy from Legal & General America is likely your best option.
On a term life insurance policy, you make premiums for a predetermined period, such as 10 or 20 years. After the term expires, the policy is canceled. If you pass away during the period, your beneficiary will receive the policy’s total benefit.
Best no-medical-exam life insurance
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 company for no-medical-exam life insurance in Wisconsin is Pacific Life. You may be able to get up to $3 million in coverage without taking a medical exam, and Pacific Life accepts no-med applicants as old as 70.
A no-medical-exam life insurance policy is like a normal term life policy, except getting coverage takes less time since you don’t need to go through a medical exam. You can usually only get this kind of coverage if you’re in good health, though each company has different eligibility rules.
Best whole life insurance
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 ratings
Higher potential for dividends for whole life policyholders than many competitors
Good customer satisfaction ratings
Cons
High term life premiums
Term life not available through Policygenius
Whole life insurance policies build cash value throughout the insurer’s entire life and may be sold for its equivalent value in times of need. Whole life insurance can cost up to 15 times more than term life since it never expires as long as you're living and paying premiums. We selected MassMutual as the best whole life insurance company because it pays more in dividends than other insurers do.
Best for seniors
2025 Policygenius award winner
Prudential
4.1
No-medical-exam option
Why we chose it
With nearly four million policyholders and 150 years to its name, Prudential offers competitive coverage options for seniors, as well as people with some of the most common medical conditions, including asthma, depression, and fibromyalgia.
Pros and cons
Pros
Good for people over 60
More flexible income requirements than some other insurers
Considers applicants with a variety of immigration statuses (visas and green cards)
Cons
Younger applicants will likely find better prices elsewhere
Prudential is an excellent choice for Wisconsin seniors over age 60 who are considering purchasing a life insurance policy. Older adults pay higher rates than younger people, but Prudential’s rates are competitive, and it covers seniors with certain medical conditions that other companies won’t.
Best for young adults
Legal & General America
Legal & General America is the best life insurance company for young adults in Wisconsin. It offers some of the cheapest life insurance rates for people in their 20s and 30s regardless of their health profile. The company offers no-medical-exam and instant-decision options for young people who are in excellent health or have just one or two minor and well-controlled health conditions.
Best for people with pre-existing conditions
2025 Policygenius award winner
Lincoln Financial
4.8
No-medical-exam option
Why we chose it
Lincoln Financial offers a diverse array of life insurance policies, including competitive no-med and high-net-worth options.
Pros and cons
Pros
Affordable rates
Good for many existing health conditions, including depression, stroke, and heart conditions
Good for marijuana users, including daily users
Cons
Term life not available in New York
Lincoln Financial is the best choice for most Wisconsin residents with pre-existing medical conditions like diabetes, arthritis, or cancer thanks to its affordable rates, flexible policies, and no-medical-exam options.
Best for marijuana users
Lincoln Financial
Most life insurance companies assign expensive "smoker" rates to marijuana users, but Lincoln Financial offers many marijuana users more affordable rates, making it an obvious top choice.
Best for smokers
Legal & General America
Tobacco smokers typically pay much higher life insurance premiums than people who don't smoke, but Legal & General America offers the most affordable rates on the market for smokers. Even better, policyholders who have quit smoking for one year can have their premiums reduced.
Comparing the best life insurance companies in Wisconsin
Company | Policygenius rating | Best for | Types of policies | |
|---|---|---|---|---|
Legal & General America | 4.9 / 5 | Overall, cheapest, term life, smokers, young adults | Term life, no-medical-exam life, universal life | |
MassMutual | 4.9 / 5 | Whole life | Term life, no-medical-exam life, whole life, universal life, variable universal life | |
Pacific Life | 4.8 / 5 | No-medical-exam life | Term life, no-medical-exam life, universal life, indexed universal life, variable universal life | |
Lincoln Financial | 4.8 / 5 | Marijuana users, people with pre-existing conditions | Term life, no-medical-exam life, indexed universal life, variable universal life | |
Prudential | 4.1 / 5 | Seniors | Term life, no-medical-exam life, short-term life, universal life, indexed universal life |
What is the average cost of life insurance in Wisconsin?
The price you pay for a life insurance policy in Wisconsin differs from person to person. Personal data, such as whether you smoke or have a medical condition, can affect your rates. Based on Policygenius data from 2023, the average monthly cost of a $500,000, 20-year term life insurance policy in Wisconsin for a healthy, non-smoking 35-year-old is $25.76 for women and $30.79 for men.
What happens if a life insurance company goes bankrupt in Wisconsin?
The Wisconsin Insurance Security Fund protects policyholders in the state if a life insurance company they do business with goes bankrupt. However, the fund doesn’t cover all types of policies, and policyholders can expect delays in payment while going through the bankruptcy process. Fortunately, it is extremely rare for a life insurance company to declare bankruptcy in the United States.
How to find a lost life insurance policy in Wisconsin
To find out about unclaimed death benefits or other missing financial assets, Wisconsin residents may contact the Wisconsin Department of Revenue or the Life Insurance Policy Locator Service, a nationwide database sponsored by the National Association of Insurance Commissioners.
Wisconsin life insurance laws
These Wisconsin laws and statutes protect the rights of policyholders and govern how life insurance companies conduct business in the state.
Free look period
Life insurance policies sold in Wisconsin offer a 10-day or 30-day period for purchasers to review the plan. New policyholders may return the policy during this period if they find it unacceptable.
Guaranty Fund protection
There are protections for policyholders in Wisconsin if a life insurance company becomes insolvent. The Wisconsin Insurance Security Fund is a non-profit entity that continues to provide policy coverage and pay policyholders' claims during the bankruptcy period.
Contestable period
The contestable period for a life insurance policy in Wisconsin is two years. Specifically, an insurer can reject a claim for up to two years if it determines that a policyholder lied on their application.
Time allowable to settle a claim
Wisconsin beneficiaries can expect payments within 30 days after a death claim is submitted to their insurer. After a month, interest accrues on the beneficiary’s account until the claim is paid.
Grace period for missed payments
Wisconsin life insurance policyholders have at least 31 days to make a payment on a life insurance policy.
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