Investopedia has released its highly-anticipated list of the best life insurance companies for March 2025, with Nationwide securing the top spot. The insurer earned this distinction due to its wide array of products and features, solid financial standing, and strong customer satisfaction ratings. While Nationwide stands out in several categories, it’s essential for consumers to determine which insurer best aligns with their specific needs.
Life insurance plays a vital role in safeguarding loved ones financially following a death. However, the selection process can be intricate, as the industry offers a range of options. To assist consumers, Investopedia conducted an in-depth analysis, evaluating 70 criteria across 45 life insurance companies. These criteria included factors such as pricing, policy types, features, and customer satisfaction, ensuring a comprehensive assessment.
Investopedia’s 10 Best Life Insurance Companies for March 2025:
- Best Overall, Best Children’s Life Insurance, Best for People Over 50: Nationwide
- Best Term Life Insurance: Banner by Legal & General
- Best Whole Life Insurance: Lafayette Life
- Cheapest Term Premiums: SBLI
- Best No-Medical-Exam Insurance: Penn Mutual
- Best for Financial Strength, Best for Customer Satisfaction: Thrivent
- Best for Universal Life: Pacific Life
- Also Great for No-Medical Exam Life Insurance: Symetra
- Also Great for Children’s Life Insurance: Protective Life
- Also Great for Whole Life Insurance: MassMutual
Why Nationwide?
Nationwide’s success stems from a multitude of factors. Its extensive product selection, which Investopedia found one of the broadest among the companies surveyed, is a key strength. Additionally, Nationwide provides a wide range of riders, including three no-cost living benefits. These riders allow policyholders to access their death benefit while still alive if they develop a chronic, critical, or terminal illness.
Customers generally have positive experiences with the company, with few complaints filed with state regulators. Furthermore, in the 2024 J.D. Power U.S. Individual Life Insurance Study, Nationwide ranked fourth out of 22 companies.
One potential drawback is that Nationwide does not offer dividends on its whole life policies. For those seeking dividends, mutual companies such as Lafayette or MassMutual may be a better fit. Additionally, Nationwide does not sell term life insurance to applicants over the age of 70. The company was founded in 1925 and is based in Columbus, Ohio.
Policy Types and Riders Available
Nationwide offers the following policy types:
- Term life
- Whole life
- Children’s whole life
- Universal life
- Indexed universal life
- Variable universal life
- No-medical-exam life (term)
- Final expense
Available Riders include:
- Term conversion
- Child term
- Guaranteed insurability rider
- Waiver of premium
- Accidental death benefit
- Terminal illness
- Long-term care
- Chronic illness
- Critical illness
Across the board, Nationwide’s blend of features, customer satisfaction, and financial strength solidify its place as a top choice in the life insurance market.
