Best Life Insurance in Texas for 2025 (Top 10 Companies Ranked)
State Farm, Northwestern Mutual, and Prudential lead the way for the best life insurance in Texas. State Farm stands out with competitive term life policies at $20 per month.
Northwestern Mutual is a great option for long-term savings, offering strong cash value growth in whole life policies. Prudential offers affordable term life rates and allows Texans to convert term policies into permanent coverage without a medical exam.
| Insurance Company | Rank | Multi-Vehicle Discount | A.M. Best | Best For | Jump to Pros/Cons |
|---|---|---|---|---|---|
 |
#1 | 17% | B | Tailored Policies | State Farm |
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#2 | 12% | A++ | Flexible Whole Life | Northwestern Mutual |
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#3 | 13% | A+ | Convertible Policies | Prudential |
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#4 | 11% | A++ | High Coverage | New York Life |
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#5 | 7% | A+ | Affordable Premiums | Banner Life |
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#6 | 4% | A+ | Texas Seniors | Mutual of Omaha |
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#7 | 5% | A+ | Cash-Value Growth | Pacific Life |
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#8 | 7% | A- | Guranteed Acceptance | Globe Life |
 |
#9 | 11% | A++ | Disability Riders | Guardian Life |
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#10 | 20% | A+ | Bundling Discounts | Nationwide |
This article breaks down the best life insurance companies in Texas, highlighting monthly life insurance costs and unique policy features. Enter your ZIP code to compare instant life insurance quotes from highly-rated insurers and begin investing in your family’s future.
What You Should Know
- State Farm has the best Texas life insurance customer service
- Northwestern Mutual stands out for its strong cash value growth in whole life policies
- Prudential has the best convertible term life policy in Texas
#1 – State Farm: Top Overall Pick
Pros
- Flexible Term Options: Offers competitive term life insurance in Texas at $20/month, with customizable policy terms. Learn more in our State Farm insurance review.
- Exceptional Customer Support: State Farm life insurance is #1 in customer satisfaction as well as in Texas according to J.D. Power annual surveys.
- 24/7 Agent Network: State Farm’s large agent network means personalized help for seniors and families looking for affordable life insurance in Texas.
Cons
- Limited Digital Tools: If Texas residents want to manage their policy online, they may find limited options.
- Higher Whole Life Premiums: Whole life policies come at a higher cost compared to competitors in Texas.
#2 – Northwestern Mutual: Best TX Whole Life Insurance
Pros
- Strong Cash Value Growth: Whole life insurance policies steadily accumulate cash value at better rates, ideal for long-term investments in Texas.
- High Financial Ratings: Northwestern Mutual’s financial strength provides security for policyholders in Texas. Check out the ratings in our Northwestern Mutual review.
- Various Policy Choices: Term, whole life and universal life policies suit many Texas families and lifestyles.
Cons
- Higher Premium Costs: Its whole life policy begins at $150/month which is unsuitable for frugal Texans.
- Lengthy Application Process: Texas policies require thorough underwriting, which can delay approvals.
#3 – Prudential: Best TX Term Life Insurance
Pros
- Affordable Term Rates: Prudential term life insurance rates in Texas start low at $22/month.
- Convertible Policies: Allows Texan policyholders to convert term life to permanent life insurance without a medical exam.
- Health-Focused Policies: Provides favorable rates for applicants with common health conditions in Texas.
Cons
- Limited Whole Life Options: Primarily focuses on term life policies, offering fewer permanent options for Texans.
- Variable Customer Service: Support quality may vary depending on the agent or region in Texas. More information is available in our Prudential insurance review.
#4 – New York Life: Best for High Coverage Options
Pros
- Flexible Coverage Limits: Offers customizable term and whole life insurance in Texas, including high-value coverage options.
- Living Benefits: Access cash value or death benefits for emergencies, making it great for seniors in Texas.
- Financial Security: A++ financial rating ensures reliable long-term payouts for Texans, making it one of the best life insurance companies for high coverage policies.
Cons
- High Premiums: Texas term life insurance policies start at $30/month, which may not be affordable for everyone.
- Complex Options: Policy variety can overwhelm customers new to life insurance in Texas.
#5 – Banner Life: Best Term Life Insurance Rates
Pros
- Low Premium Rates: Banner Life offers some of the cheapest term life insurance in Texas, starting at $18/month.
- Flexible Term Lengths: Provides term options from 10 to 40 years, allowing Texans to find coverage that fits their needs.
- Quick Approvals: Simplified underwriting means faster approvals. Good for those looking for life insurance companies that insure higher risk policies in Texas.
Cons
- No Whole Life Policies: Banner Life specializes in term life, leaving fewer options for permanent coverage seekers in Texas.
- Limited Riders: Fewer add-ons compared to other life insurance providers in Texas.
#6 – Mutual of Omaha: Best for Senior Life Insurance
Pros
- Simplified Underwriting: Texans 65+ can get coverage without a medical exam, making the process quick and easy.
- Final Expense Coverage: Offers Texas residents cheap plans for funeral and end-of-life expenses, starting at $23/month.
- Reliable Service: Mutual of Omaha provides excellent support for Texas seniors citizens, making it a top choice among the best life insurance companies that offer hybrid life insurance and long-term care policies.
Cons
- Lower Coverage Limits: Policies may not provide high enough coverage for younger Texas residents or families.
- Limited Online Tools: Policy management is less advanced compared to digital-focused providers in Texas.
#7 – Pacific Life: Best Cash-Value Growth
Pros
- Investment Options: Texas policyholders with Pacific Life whole life policies can build equity through life insurance with unique investment-linked features.
- High Policy Limits: Offers substantial coverage options, ideal for high-income Texans who need more coverage.
- Competitive Premiums: Balances affordability with high-value term and whole life policies in Texas, starting at $140/month.
Cons
- Complex Policies: Investment features may be confusing for Texans unfamiliar with life insurance options.
- Longer Approval Times: High-value policies require extensive underwriting, leading to slower approval times in Texas.
#8 – Globe Life: Best for No Medical Exam Policies
Pros
- No Medical Exams: Simplified application process with no exams, making it quick for Texans to get coverage. (Read More: The Best No Medical Exam Life Insurance Options)
- Affordable Premiums: Texas life insurance rates start at $19/month.
- Guaranteed Acceptance: Globe Life guarantees acceptance for Texas senior citizens and those with health issues.
Cons
- Lower Coverage Amounts: Policies may not offer enough coverage for families seeking higher limits in Texas.
- Higher Costs Over Time: Premiums can increase as Texas policyholders age, raising long-term costs.
#9 – Guardian Life: Best for Disability and Whole Life Bundles
Pros
- Disability Bundles: Combines life insurance with disability income protection, offering added security for Texans. (Read More: Best Life Insurance Companies for Disabled Children)
- Strong Whole Life Policies: Provides dependable whole life coverage in Texas with cash value growth opportunities.
- Custom Riders: Offers unique life insurance riders in Texas, like an index participation feature for enhanced cash-value growth.
Cons
- Higher Premiums: Term life policies start at $24/month, higher than other Texas life insurance providers.
- Complex Underwriting: Detailed underwriting may delay approvals for certain Texas applicants.
#10 – Nationwide: Best Insurance Bundling Discounts
Pros
- Bundling Savings: Combines life insurance with home and auto policies for 20% discounts in Texas.
- Customizable Term Policies: Offers flexible term life insurance options in Texas with affordable premiums starting at $21/month.
- Strong Financial Ratings: Nationwide’s financial stability ensures dependable long-term coverage for Texas residents. Get full ratings in our review of Nationwide.
Cons
- Limited Senior Options: Fewer plans specifically tailored for seniors seeking life insurance in Texas.
- Average Whole Life Rates: Texas whole life insurance premiums are slightly higher than other budget-focused providers.
Texas Life Insurance Rates and Claims Data
Life insurance choices in Texas can significantly impact your family's financial security. So, how much does life insurance cost? This table shows monthly Texas life insurance rates for both term and whole life policies from ten major insurance providers.
| Insurance Company | Term Policy | Whole Policy |
|---|---|---|
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$18 | $130 |
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$19 | $128 |
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$24 | $142 |
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$23 | $138 |
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$21 | $136 |
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$30 | $160 |
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$25 | $150 |
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$22 | $140 |
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$22 | $145 |
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$20 | $135 |
The data shows term life insurance in Texas costs between $18 and $30 monthly, with Banner Life offering the lowest rates. For whole life coverage, monthly costs range from $128 to $160, with Globe Life having the most affordable options.
It's important to understand the reality of insurance claims across the state and how they impact your Texas life insurance quotes. This first table breaks down the types of claims filed and their typical costs:
| Claim Type | Portion of Claims | Cost per Claim |
|---|---|---|
| Death by Illness | 40% | $50,000 |
| Accidental Death | 25% | $75,000 |
| Natural Causes | 20% | $40,000 |
| Homicide | 10% | $100,000 |
| Suicide | 5% | $70,000 |
The data reveals that while death by illness represents the highest portion of claims, accidental deaths, and homicides often result in larger payouts. This context becomes even more relevant when we look at claim patterns across major Texas cities:
| City | Accidents per Year | Claims per Year |
|---|---|---|
| Austin | 5,500 | 4,800 |
| Dallas | 9,000 | 8,000 |
| Fort Worth | 4,500 | 3,900 |
| Houston | 12,000 | 10,500 |
| San Antonio | 7,000 | 6,200 |
These statistics paint a clear picture of insurance needs in Texas. Houston sees the highest number of claims at 10,500 per year, which means life insurance rates will be higher there than in other Texas cities.
Best Life Insurance Discounts in Texas: Save More With Leading Providers
When looking for the best life insurance in Texas, check out the valuable discounts offered by major providers, making it easier to find policies that suit your needs and budget.
| Insurance Company | Available Discount |
|---|---|
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Smoker-Free Savings, Simplified Policy , Family Coverage Reward, Health-Conscious Bonus |
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Affordable Family Coverage , No Medical Exam Savings, Smoker-Free Incentive, Simplified Issue Bonus |
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Wellness Program Savings, Health Monitoring , Family Protection Reward, Non-Smoker Incentive |
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New Policyholder , Smoker-Free Reward, Family Protection Savings, Wellness Program Bonus |
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Multi-Policy Savings, Long-Term Loyalty , Smoker-Free Reward, Wellness Program Bonus |
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Family Protection , Long-Term Policy Reward, Smoker-Free Incentive, Healthy Lifestyle Savings |
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Wellness Program , Healthy Living Reward, Smoker-Free Savings, Family Coverage Bonus |
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Healthy Living , Family Bundle Savings, Multi-Policy Incentive, Non-Smoker Reward |
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Simplified Underwriting Savings, Healthy Living Incentive, Wellness Program , Family Bundle Reward |
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Healthy Lifestyle Savings, Smoker-Free , Multi-Policy , Long-Term Loyalty Reward |
These discounts significantly impact the average cost of life insurance in Texas, with multi-policy bundling discounts providing the biggest savings.
| Discount Name | Grade | Savings | Participating Providers |
|---|---|---|---|
| Bundling | A+ | 20% | State Farm, Nationwide |
| Healthy Lifestyle | A | 15% | Pacific Life, Prudential |
| Non-Smoker | A | 15% | Northwestern Mutual, New York Life |
| Loyalty Program | B+ | 10% | State Farm |
| Family Policy | B | 8% | Prudential, Guardian Life |
To determine how much life insurance you need, consider factors like family protection, personal health, and long-term financial goals. Term life insurance is the cheapest, but coverage doesn't last forever.
Remember, comparing providers allows you to find the best rates and unlock benefits like grace periods for missed payments or simplified underwriting options.
Read More: The Essential Insurance Checklist for Millennials
How to Find the Best Life Insurance in Texas
State Farm, Northwestern Mutual, and Prudential are top insurers for the best life insurance in Texas and to help you understand how Texas insurance providers perform overall, here's a detailed breakdown of key industry metrics:
| Category | Grade | Explanation |
|---|---|---|
| Affordability | A | Life insurance premiums are competitive statewide |
| Claims Satisfaction | B+ | Moderate satisfaction with claim processing times |
| Customer Service | B | Good customer support but varies by provider |
State Farm is the best Texas life insurance company for its affordable term life policies and exceptional customer service through its strong agent network.
Northwestern Mutual is ideal for long-term savings, thanks to its robust cash value growth in whole life policies. Prudential stands out with competitive term life rates at $97 per month and the option to convert term life insurance policies into permanent coverage without a medical exam.
To find the best life insurance in Texas, compare multiple quotes online and consider factors like coverage options, health discounts, and everything you need to know about applying for life insurance.
It’s no joke how much money you can save when you bundle with the Personal Price Plan®. It is pretty funny though. 😁 pic.twitter.com/COhT4EGKg0
— State Farm (@StateFarm) December 10, 2024
Looking for cheaper Texas life insurance rates? Enter your ZIP code into our free quote comparison tool today and find the cheapest providers near you.
Frequently Asked Questions
What is the average monthly cost of life insurance in Texas?
The average cost varies by age and health, but typical term life insurance in Texas ranges from $20-$97 monthly for a standard coverage policy.
What is the best insurance to have in Texas?
State Farm leads Texas insurance offerings, with Northwestern Mutual and Prudential following closely. Their policies offer comprehensive coverage and competitive rates for most situations.
How much life insurance do you need in Texas?
Financial experts recommend 10-15 times your annual income. For the average Texan earning $55,000, coverage between $550,000-$825,000 is typically advised.
Read More: What Are Life Insurance Classifications?
What are the best life insurance options for smokers in Texas?
Prudential and Banner Life offer competitive rates for smokers, though premiums are typically 2-3 times higher than non-smoker rates.
Stop overspending on life insurance. Use our tool to compare rates from top providers near you.
What is the contestable period and grace period for missed payments in Texas?
Texas has a two-year contestable period, and insurers typically offer a 30-day grace period for missed payments before policy cancellation.
Read More: What is a non-forfeiture option?
How much per month is a million-dollar life insurance policy in Texas?
A million-dollar term life policy in Texas averages $50-150 monthly for healthy adults aged 30-40, varying by provider and individual factors.
What are the best life insurance options for young adults in Texas?
Term life policies from State Farm and Banner Life offer affordable coverage for young adults, with rates starting around $20 monthly.
What type of Texas life insurance gives the greatest amount of coverage?
Term life insurance typically offers the highest coverage amounts for the lowest premiums, with policies available up to $10 million through providers like Pacific Life.
Read More: Term vs. Whole Life Insurance: How to Choose the Best Option
Which life insurance company has the highest claim ratio in Texas?
Northwestern Mutual leads with a 98.9% claim settlement ratio, followed closely by State Farm and New York Life in Texas.
What is the "free look period" under Texas life insurance laws?
Texas requires a minimum 10-day free look period, allowing policyholders to cancel their policy for a full refund within this timeframe.
What are the factors that impact the cost of life insurance in Texas?
Age, health status, coverage amount, policy type, occupation, and lifestyle choices like marijuana use or smoking significantly affect Texas life insurance rates.
Read More: How Does Age Affect Life Insurance Rates?
What is the best whole life insurance in Texas?
Northwestern Mutual offers the strongest whole life policies in Texas, featuring guaranteed cash value growth and consistent dividend payments.
What is the time allowable to settle a life insurance claim in Texas?
Texas law requires insurance companies to settle valid life insurance claims within 60 days of receiving all necessary documentation.
What's the best life insurance for marijuana users in Texas?
Banner Life and Prudential offer more lenient underwriting and competitive rates for occasional marijuana users, with detailed usage evaluation during application.
Read More: Best Life Insurance Companies That Will Insure Marijuana Smokers
What is the most recommended life insurance?
Term life insurance is most recommended for its affordable premiums and high coverage amounts, with State Farm offering competitive rates starting at $20 monthly.
Give your loved ones the gift of financial security by entering your ZIP code to find life insurance that doesn’t break the bank.