10 Best Family Life Insurance Companies of 2026

Life insurance is about protecting your family financially. While money can’t replace you, it's important to have the right amount of insurance to replace your income and help cover family obligations in the event of your untimely death. And while having a policy on yourself is a good start, you may want more insurance to cover your entire family.

Many companies sell life insurance policies for adults and children, which can help cover end-of-life expenses or serve as long-term savings vehicles. Both term and permanent life policies offer several options for coverage, allowing you to create a life insurance plan that works for your family and lifestyle.

We reviewed more than a dozen life insurance companies and selected those that offer flexible family insurance options. Read on to learn more about our top picks for the best family life insurance.

Our Top Picks for Best Family Life Insurance

• State Farm - Best Overall
• Northwestern Mutual - Best for Whole Life Insurance
• MassMutual - Best for Term Life Insurance
• New York Life - Best for Broad Availability
• Guardian Life - Best for Cost and Value
• Pacific Life - Best for Flexible Permanent Life
• Mutual of Omaha - Best for Return of Premium
• Prudential Financial - Best for Mainstream Consumers
• PolicyGenius - Best Online Broker
• USAA - Best for Military and Veterans

Best Family Life Insurance Reviews

Why we chose it: State Farm offers life-insurance plans that can cover you, your spouse, and your children under one “family-style” approach. Their term, whole, and universal life offerings allow policies with substantial coverage (potentially up to $10 million or more, depending on underwriting).

The family package includes child riders that can often be converted into individual policies when children reach adulthood. Long-term coverage (e.g., 30-year terms) can make this especially valuable for families with dependents. Their A++ financial strength and high customer-satisfaction ranking support reliability.

Because many people already know State Farm from auto/home insurance, bundling and familiarity may make it a convenient choice. For families who value service accessibility, a trusted brand name, and straightforward policy types (term, whole, universal), State Farm offers a reliable, user-friendly option.

Why we chose it: Northwestern Mutual consistently ranks at or near the top of life-insurance provider lists for overall strength, customer trust and product flexibility. It offers both term and permanent life insurance policies that can be tailored to a family’s needs, including several whole life options. Coverage starts at $25,000, but maximums depend on underwriting results.

Northwestern gives whole life insurance policyholders the option to adjust payments so their policies are fully funded by a certain age (such as 65 or 90), after which they no longer have to pay premiums. You can also get whole life insurance for your children and transfer it under their names once they reach the age of majority.

What further distinguishes Northwestern Mutual is its emphasis on integrated planning. Many policyholders work with advisors to align life insurance with broader financial goals, such as retirement income or legacy planning. Its whole-life policies often include a cash-value component that may grow over time and can be used for needs beyond death-benefit protection, adding another layer of financial flexibility.

Why we chose it: Active since 1851, MassMutual offers a wide range of insurance options, including term, whole and universal life policies. Qualifying individuals can obtain immediate coverage ranging from $100,000 to $10 million. Term life policies feature 10-, 15-, 20-, 25- or 30-year terms, and policyholders can augment coverage through several optional riders.

MassMutual offers flexible term life coverage, with term options ranging between 10 and 30 years and benefits from $100,000 to $5 million (or more). These policies can also be converted to permanent coverage down the road.

MassMutual is an excellent choice if you’re focused on long-term value and stability. Its mutual ownership model means the company is structured to serve its policyholders rather than outside shareholders, which can translate into dividends for whole-life policyholders and a stronger alignment with customer interests.

MassMutual also offers a very comprehensive set of policy types, allowing families to tailor protection as their financial needs evolve. In practice, this means not only protecting your family with a death benefit but also building features that can support cash value growth. Its strong ratings and lower complaint levels further support its selection for long-term protection and financial strength.

Why we chose it: New York Life’s size, financial strength and breadth of policy types make it a top-tier, dependable option. Whether you need term coverage while kids are young, or a long-term universal/whole life policy, they offer the flexibility and stability many families value.

Because of its market size and reputation, you may find it easier to get coverage, agents, and customer support no matter your state. For families who want dependable life insurance backed by a major, well-established insurer, New York Life represents a solid balance between stability and flexibility.

Consumers frequently highlight its balanced product suite — strong policy offering variety paired with solid service — as a key strength. While some policy types may be priced above industry averages, policyholders often value its stability and broad agent support network, making it an excellent choice for families who want reliable, versatile coverage with face-to-face guidance.

Why we chose it: Guardian Life is often recommended for families seeking flexible long-term life coverage — particularly those interested in whole or universal life that builds cash value. Its strong financials make it a stable, long-term choice.

Guardian Life is especially appealing to families seeking permanent life insurance (whole or universal) without venturing into the highest-cost carriers. As a mutual insurer, it tends to align policyholder interests with company incentives.

The combination of good financial strength, a variety of plans (from term to cash-value/permanent) and favorable evaluations in 2025 rankings makes Guardian a reliable choice for both medium- and long-term coverage. If you prefer a balance of cost, flexibility, and stability (especially for whole or universal life), Guardian is a strong contender.

---

Why we chose it: Pacific Life stands out for families who want flexibility in permanent life insurance — especially policies that offer investment-like growth (variable/universal) or indexed returns. That makes it attractive if you view life insurance as part of a long-term financial strategy, rather than just as death-benefit protection.

Because many permanent-life policies (indexed/variable universal) depend on investment performance and cash value accumulation, Pacific Life provides a path for potentially higher long-term returns. This could appeal to families targeting wealth growth, estate planning or legacy building. This flexibility, combined with solid financial strength, makes it a top pick for long-term-oriented buyers.

Why we chose it: Mutual of Omaha is a large life insurance company founded in 1909. The company offers a wide range of additional benefits with its life insurance policies. One such rider is the return of premium benefits, which automatically refunds the premiums the policyholder has paid over the life of the policy, including fees and the rider's cost.

Mutual of Omaha also offers an accelerated death benefit that pays out a lump sum if the insured is diagnosed with a terminal illness. Another living benefit is the disability waiver of premium, which waives all premiums for the remainder of the policy term if the insured becomes permanently and totally disabled.

Mutual of Omaha is often recommended when you want solid protection — but without paying top-tier premiums. For families focused on cost-efficiency, especially if they might only need coverage for a few decades (e.g., until the mortgage is paid or children are grown), this insurer strikes a good balance.

Its mix of term and universal life options provides flexibility depending on budget, and its financial strength rating means you’re not trading cost for instability. For value-conscious families, Mutual of Omaha can offer dependable coverage with reasonable pricing.

Why we chose it: Prudential is a good “middle-of-the-road” insurer for families who want reliable term or permanent life coverage without necessarily paying the higher premiums associated with top-tier mutual insurers.

Prudential offers broad availability, national reach, and a mix of term and universal policies that suit many middle-class families seeking dependable protection without the highest premiums.

Prudential’s combination of term life for straightforward protection and indexed universal life for longer-term needs makes it a one-stop solution throughout many stages of life. Its reputation for reliability and balanced pricing further supports its selection for families seeking both simplicity and stability.

Why we chose it: Policygenius is an online insurance marketplace that makes it easier to compare quotes from top-rated life insurance companies. It sells both term and permanent life insurance policies and publishes informational articles and guides to help new applicants make better coverage decisions.

Policygenius only works with well-established life insurance companies, including Protective, Corebridge Direct, Prudential, Brighthouse Financial, Transamerica, Mutual of Omaha, Pacific Life and Symetra. It also has an extensive library of educational articles and resources to help you learn more about the different types of life insurance and the benefits of each coverage option.

You can also work with a Policygenius agent directly to choose the right company and policy for your family. Agents don’t work on commission, so they are not incentivized to recommend any particular policy and can give you an unbiased opinion.

Why we chose it: USAA offers term and permanent life insurance options to military members and their families. Term policies feature benefit amounts from $100,000 up to $10 million and can be customized with child riders.

Term life policies provide up to 30 years of coverage and death benefit amounts starting at $100,000. Coverage is also available for children through a child rider, which can be added to any level term policy. These riders can be converted to a permanent policy before the child's 26th birthday.

USAA also sells whole life and universal life policies that feature fixed or flexible payments. You can get up to $10 million in coverage and stop paying premiums at the age of 85 for whole life policies or age 90 for universal policies.

Family Life Insurance Guide

What is family life insurance?

Family life insurance refers to a comprehensive life insurance plan composed of individual policies tailored to each family member. This type of insurance plan encompasses various policy types, including permanent life insurance for the primary income earner and their spouse, and term life insurance for children.

How does life insurance for families work?

Family life insurance works by obtaining a policy that covers all family members. You could purchase the same policy for each member or individualized policies tailored to their specific needs.

The death benefit and premium costs will vary depending on the policy type chosen for each family member. Additionally, the requirement for a medical exam will depend on the insured individual and the type of life insurance coverage selected.

Who really needs life insurance?

Life insurance can provide your family with valuable peace of mind and financial security, serving as a protective measure in the event of your death. Extending coverage to your spouse and children provides an additional layer of stability, ensuring financial support if you are unable to return to work due to the emotional toll of grieving.

Life insurance serves a multitude of purposes, ranging from replacing your income for a designated period to handling funeral expenses and settling debt. Certain policies — particularly permanent life insurance — come with added advantages such as cash value accumulation, which can allow you to supplement your retirement income or even support future purchases by accessing the accumulated cash value within the policy.

Additionally, securing a life insurance policy for a child at a young age ensures access to lower premium rates. Depending on the chosen policy type, the child can maintain life insurance coverage at that favorable low rate for the rest of their life.

If you have a significant amount of funds that can be allocated to loved ones in the event of your death, a life insurance policy may not be necessary. These funds can be sourced from various channels, including investment and retirement accounts, savings or valuable assets like real estate.

Evaluate how much life insurance you need before committing to a policy.

Types of family life insurance

The best life insurance policy for each family member will depend on that family member’s needs. There are permanent life policies, such as whole or universal life, as well as term policies that last for a set period. Some of these policies may be no-exam life insurance policies, meaning a medical exam isn’t required for approval.

Life insurance for couples

Life insurance for couples, or joint life insurance, involves coverage for two individuals, typically in the form of a permanent policy. Depending on the coverage type, death benefits can be paid out when one of the insured people dies (referred to as “first-to-die” coverage), or when both individuals die (known as “survivorship” or “second-to-die” coverage).

Alternatively, you can purchase a spouse term rider, which provides a specified amount of coverage for your spouse over a predetermined period.

Life insurance for children

The best life insurance for children depends on your family's unique needs. You could purchase individual policies for each child, choosing between term policies that provide coverage for a specified period and permanent life insurance policies.

A second option is to add a child life insurance rider to your own policy, which covers all of your children for a single flat fee. This rider coverage expires when the child reaches the maximum age limit in the rider. However, some life insurance companies offer the option to convert the rider into a separate policy once the child reaches the age limit.

Life insurance for seniors

Life insurance premiums are primarily determined by the risk of death, resulting in higher costs for older adults compared to other age groups. To accommodate this demographic, many life insurance companies provide guaranteed issue policies designed for individuals aged 60 and above.

These policies eliminate the need for a medical exam and ensure coverage is guaranteed regardless of the policyholder's health condition.

Check our guide to the best no-exam life insurance for additional coverage options for seniors.

Riders

A life insurance rider serves as an additional feature that can be added to an existing life insurance policy to provide supplemental coverage. There are many kinds of riders, and the availability and details of each will depend on the particular insurance carrier.

Some examples of common riders and their uses:

• Accelerated death benefit (ADB) - Allows policyholders to access a portion of their life insurance benefits while they’re still alive. This rider is particularly beneficial for individuals who have been diagnosed with a terminal illness and have a short life expectancy. Using the ADB rider, policyholders can receive financial assistance during their lifetime to cover medical expenses or other needs.

• Accidental Death and Dismemberment (ADD) - This rider offers an additional payout alongside the policy’s death benefit if the insured dies or suffers dismemberment due to a covered accident. This rider is particularly popular among policyholders engaged in high-risk occupations or adventurous hobbies such as skydiving.

• Child rider - A child rider is a valuable option typically available to children aged 14 days to 26 years. This rider provides a predetermined amount of coverage for all of your children under a single policy. Once the children reach the maximum age, the rider can be converted to a permanent life policy.

• Family income - This rider alters the structure of the death benefit associated with an insured person’s policy, transforming it from a one-time lump-sum payment into monthly installments. Rather than receiving the entire payout in a single lump sum, beneficiaries receive a regular income stream.

• Guaranteed insurability - Guaranteed insurability allows you to purchase additional coverage at predetermined dates, without needing to undergo medical exams or repeat the policy underwriting process.

• Spouse term rider - This rider offers a specified amount of coverage for your spouse. Civil unions and domestic partnerships are recognized in accordance with applicable state laws.

• Term conversion - Often included in term policies, this rider allows the policyholder to convert their term policy into a permanent policy without requiring a medical exam or other underwriting.

• Term rider - You can increase your death benefit for a specific amount of time (or term) with a term rider.

• Terminal illness - This rider offers policyholders a valuable option if they are diagnosed with a terminal illness. The terminal illness riders allow them access to a portion of their death benefit funds before they die. The specific amount available depends on the insurance plan's terms and conditions.

What is the average cost of family life insurance?

Policygenius estimates that a healthy 30-year-old male buying a 20-year, $500,000 term policy pays about $30 per month ($360 per year). Actual rates vary based on coverage amount and term length, plus factors like age and health (and insurers typically price by sex/gender).

Here’s an example based on two 35-year-old parents in excellent health:

• Parent 1: $500,000 coverage for a 20-year term life insurance policy at $18-$34/month
• Parent 2: $500,000 coverage for a 20-year-term life insurance policy at $18-$34/month
• Child rider, includes all children: $50,000 coverage for a 20-year term at $21-$30/month
• Total family life insurance plan cost: $57-$98/month

Another example: a permanent life insurance policy for each family member. Parents are assumed to be 35 years old and in excellent health.

• Parent 1: $150,000 policy at $135-$152/month
• Parent 2: $150,000 policy: $135-$152/month
• Child 1, 10-year-old male: $25,000 policy at $25.54/month
• Child 2, 3-year-old female: $25,000 policy at $21.29/month
• Total family life insurance plan cost: $316.83-$350.83/month

How to choose the best family life insurance

As you begin mapping out your family's life insurance needs, try following these steps.

• Assess your current economic situation - Consider your savings and financial assets against your debts, such as your remaining mortgage amount.

• Decide how much coverage you need - Life insurance can cover final expenses as well as replace your income in the event of your death. Use our guide to find out how much life insurance you need.

• Determine what type of insurance you want - There is temporary coverage (term life insurance) and permanent (whole, universal) coverage available for both adults and children. Consider options like couples' life insurance, child riders, and permanent policies for children.

• Compare life insurance quotes - Shop around to find the best rate on the kind of coverage you want. Premium costs vary across insurance providers.

How We Found the Best Family Life Insurance

We researched over 20 life insurance companies that offer family life insurance policy options and evaluated them based on price, policies, coverage, term lengths and AM Best Rating. Given the breadth of life insurance choices, we aimed to include several types of insurance companies that offer policy options for a variety of circumstances.

The best life insurance companies included in our family life insurance list scored high in the following categories:

• Cost: The companies on our list charge fair prices for family life insurance policies and optional riders.

• Policy offerings: We included companies that offer several types of family life insurance policies to choose from, or at least flexible policy options for the type of insurance they provide.

• AM Best rating: AM Best is an independent organization that reviews the financial strength and stability of over 16,000 insurance companies in the U.S. Ratings range from “D” to “A++” and reflect the overall financial health of a company. Every company on our list was rated A- or higher, with many earning the highest ranking, A++. This ensures the company can pay claims without financial issues.

Summary of the Best Family Life Insurance of 2026

• State Farm - Best Overall
• Northwestern Mutual - Best for Whole Life Insurance
• MassMutual - Best for Term Life Insurance
• New York Life - Best for Broad Availability
• Guardian Life - Best for Cost and Value
• Pacific Life - Best for Flexible Permanent Life
• Mutual of Omaha - Best for Return of Premium
• Prudential Financial - Best for Mainstream Consumers
• PolicyGenius - Best Online Broker
• USAA - Best for Military and Veterans