The best life insurance policy for you comes down to your needs and budget. For most people, term life insurance is sufficient and the cheapest type of coverage. It lasts a set period and provides , Life insurance premiums are typically based on your age and health, and they can differ significantly among policies. For example, the average monthly cost of a $500,000, 20-year term policy for a , AARP Level Benefit Term Life Insurance: AARP offers term life insurance to its members ages 50 to 74 and their spouses ages 45 to 74 through its partnership with New York Life. You can get $10,000 , These annual life insurance rates are based on a $500,000 term life policy for a nonsmoking 40-year-old applicant in good health. Cost of term life insurance for nonsmokers for various term , Allstate's agents offer term and permanent life insurance policies from partner carriers such as John Hancock and Protective Life. You can get a term life insurance quote on the Allstate website., Guardian: Best for people with health conditions. MassMutual: Best for flexible payment options. Northwestern Mutual: Best for low consumer complaints. New York Life: Best for fast applications .