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Last updated on Sep 09, 2020

The Best Whole Life Insurance

From 41 life insurance providers, we found the seven best to support you your whole life. ​

Enter your ZIP code to find providers, plans, and prices in your area.

The Best Whole Life Insurance

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50 hours of research

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13 companies considered

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7 top picks

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Many insurance companies offer whole life insurance as a way for policyholders to diversify their financial plans for retirement, as it provides guaranteed cash value and benefits. While term life insurance is more affordable than whole life insurance, the latter makes the most sense for older people and those with solid financial portfolios and complex end-of-life considerations.

After analyzing product offerings, coverage, pricing, industry ratings and real customer reviews, these are our picks for the best whole life insurance companies in 2020.

Top 10 Providers


Reviews.com ScoreCustomer Experience Score Financial Strength ScoreBest for
Northwestern Mutual55/55/5Customization
State Farm55/54/5Flexible pricing structures 
Nationwide4.84/52/5Lots of policy options
USAA4.7Unrated3/5Military customer support
New York Life4.24/54/5Conversions
Mutual of Omaha4.24/53/5New member benefits
Protective Life4.23/53/5Customer service
Guardian Life44/51/5Accessibility
Pacific Life43/53/5Cheap premiums
Liberty Mutual3.44/52/5Online management

*Data as of 08/25/20.

Northwestern Mutual


Best Overall
Northwestern Mutual
Northwestern Mutual


Northwestern earned a spot as best whole life insurance overall for offering guaranteed, tax-deferred cash growth over time and customization options. They don’t have the usual limitations on how you can use it, so this can be an option for a safety net. The company offers security for its customers, operating since 1857 with the industry’s highest ratings for customer satisfaction and financial stability. Northwestern Mutual also got a spot in our overall list of best life insurance companies.

To learn more about this provider, check out our full review of Northwestern Mutual Life Insurance

✓ Best For:

  • Excellent customer service
  • Flexible policies

Not For:

Online quotes

More facts:

State Farm

Most
Flexible Premiums
State Farm
State Farm


State Farm made it to our list of best whole life insurance companies for its flexibility. You can set up your policy to work as a single premium option, or you can work with limited payments, like premiums payable up to age 100 and premiums payable up to a set number of years. It helps make whole life insurance more easily attainable.

To learn more about this provider, check out our full review of State Farm.

✓ Best For:

  • Financial security
  • Customer service

Not For:

  • Outside coverage area
  • Newcomers

More facts:

Nationwide

Best
Policy Options
Nationwide
Nationwide


Nationwide offers some of the most highly customized policies for whole life insurance. Customers love the service, but you’ll also have to give up on dividends if you choose Nationwide for your policy. The company’s biggest appeal is the myriad of options for their life insurance, which makes it a top contender. Nationwide also made it to our list of the best cheap life insurance providers.

To learn more about this provider, check out our full review of Nationwide.

✓ Best For:

  • Policy options
  • Financial stability

✗ Not For:

  • Budget-friendly alternatives
  • Dividends for whole life insurance

More facts:

USAA

Best for the
Military
USAA Life
USAA Life


Though unrated for its life insurance, USAA is known as a leader in the industry for exceptional customer service. One major drawback is that this company only services active or former members of the military and their families.

To learn more about this provider, check out our full review of USAA.

✓ Best For:

  • Customer satisfaction
  • Guaranteed cash value

Not For:

  • Non-military
  • Variety of policies

More facts:

New York Life

Best for
Flexibility
New York Life
New York Life


As one of the biggest insurance providers, New York Life is available everywhere with affordable policies and great customer service. Online tools are lacking, but you receive personalized service from a local agent. New York Life also made it to our list of best providers for term insurance for its flexibility and customization options. 

To learn more about this provider, check out our full review of New York Life.

✓ Best For:

  • Option to earn dividends
  • Flexible policies

Not For:

  • Online quotes
  • Online account management

More facts:

Mutual of Omaha

Best
Introductory Benefits
Mutual of Omaha
Mutual of Omaha


Policyholders with Mutual of Omaha receive death benefits with possible tax-deferred cash growth. There are several forms of whole life insurance available, even including a children’s whole life policy, with an easy application process. However, this is not the cheapest option for many policyholders.

To learn more about this provider, check out our full review of Mutual of Omaha.

✓ Best For:

  • Pricing available online
  • Guaranteed issue policy

Not For:

  • Variety of policy options
  • Online resources

More facts:

Protective Life

Best
Customer Support
Protective Life
Protective Life


Protective Life offers fixed cash value and affordable policies, but this company is also among the more expensive options for those who are considered high-risk. If you can guarantee your policy now, you’ll receive great benefits – just as long as you know that you can’t change it later. 

To learn more about this provider, check out our full review of Protective Life.

✓ Best For:

  • Fixed cash value
  • Excellent online resources

Not For:

  • Smokers
  • Adjustable policies

More facts:

Guardian Life

Best
Mobile Tools
Guardian Life Insurance
Guardian Life Insurance


With Guardian Life, you have to work with an actual agent, but it’s worth it for many to receive  perks like cash value and death benefits. These policies are not the cheapest, and Guardian Life does not allow you to transfer your policy, so you want to be 100% sure before you commit to a policy. 

To learn more about this provider, check out our full review of Guardian Life.

✓ Best For:

  • Dividends
  • Great financial stability

Not For:

  • Online resources

More facts:

Pacific Life

Best for
Affordability
Pacific Life
Pacific Life


Pacific Life specializes in custom life insurance policies with a selection of riders you can use as add-ons to get the level of coverage you need. Coverage is available in all 50 states, and its strong financial ratings mean efficient claims processing. You’ll have to work with a representative, but you’re likely to walk away with the coverage that you want. 

To learn more about this provider, check out our full review of Pacific Life.

✓ Best For:

  • Efficient claims processing
  • Multiple riders

Not For:

  • Online quotes

More facts:

Liberty Mutual

Best
Claims Processing
Liberty Mutual Life Insurance
Liberty Mutual Life Insurance


Since 1912, Liberty Mutual has been popular for its insurance products, including life insurance. It’s available in all 50 states and Washington, D.C., offering accessibility and a quick approval process. While the customer service is just average, it is worth it for those looking for a nationwide provider with multiple insurance options.

To learn more about this provider, check out our full review of Liberty Mutual.

✓ Best For:

  • Availability
  • Fast approval

Not For:

  • Customer service
  • Website transparency

More facts:

Further Reading:

How We Chose the Best Whole Life Insurance Companies

Reviews.com scores services and companies using five quantifiable criteria to help readers choose the best one for them. For the life  insurance companies, our editorial team compared financial strength, number of riders offered, coverage options, customer satisfaction scores and website functionality from each company and averaged the scores to produce our very own Reviews.com rating. Since life insurance rates vary widely among different profiles, we encourage you to continue researching options that fit your specific needs.

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