Best Life Insurance Companies For Seniors in 2023

We ranked the top life insurers based on a combination of consumer experience, complaint index scores from the National Association of Insurance Commissioners, and weighted averages of financial strength ratings.

When determining the best life insurance companies for seniors, our ratings take into account ease of communication and website transparency as well as a company's ability to pay future claims as ranked by A.M. Best,S&P, and others. However, we encourage shoppers to obtain several insurance quotes and compare them in order to find the best rates for them.

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Guardian Life

Guardian Life is best suited for seniors looking for payment flexibility. They offer whole life policies paid up to age 65, 95, 99 and 121. They also have a good choice of variable and universal life policies issued to age 85.

Guardian Life is rated A++ by A.M. Best and AA+ by S&P.

New York Life

New York Life life insurance company is best for those seniors looking for a wide range of coverage. They offer term and whole life policies from $25,000 to the millions.

New York Life is rated A++ by A.M. Best and AA+ by S&P.

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MassMutual lets you choose some rather large term life coverage coverage amounts. This being the case, a policy by MassMutual could be ideal for estate planning and paying estate taxes. Also, if the insured has some large debts that need to be paid off by the beneficiaries.

MassMutual is rated A++ by A.M. Best and AA+ by S&P.

Northwestern Mutual

Northwestern Mutual is best suited if you are looking to earn dividends with your life insurance policy. They have paid their dividends consistently since 1872, so, you can trust their ability to pay you.

Northwestern Mutual is rated A++ by A.M. Best and AA+ by S&P.

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State Farm

State Farm is known for its great reputation and customer satisfaction. The latest J.D. Power’s rating (2022) ranks State Farm number one out of 22 companies for overall customer satisfaction. They offer a broad range of customizable life insurance products.

State Farm is rated A++ by A.M. Best and AA by S&P.


For those seniors looking for a guaranteed issue policy without a medical exam requirement, USAA offers a policy underwritten by Mutual of Omaha. Unlike other life insurance policies, this one is not limited to military families.

Mutual of Omaha is rated A+ by A.M. Best and AA- by S&P.

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