To help you make an informed choice, Budget Life has developed a ranking system to determine the best term life insurance companies with the most competitive rates. The list is based on two primary factors -- financial strength and the lowest life insurance rates. Budget Life periodically collects term life insurance quotes for $500,000 policies from the Compulife Software Inc. database, which has provided over 1.9 million term life insurance comparisons since 2002.

Budget Life's top 15 life insurance companies

1. Cincinnati Life Insurance Company

You may contact them at:

The Cincinnati Life Insurance Company
6200 South Gilmore Road
Fairfield, OH 45014
(513) 870-2000

2. Genworth Life and Annuity Insurance Co

You may either contact them at:

Genworth Life and Annuity Insurance Company
6620 West Broad Street
Richmond, Virginia 23230
(804) 662-2400 

3. Genworth Life Insurance Company

You may either contact them at:

Genworth Life Insurance Company
6604 West Broad St.
Richmond, VA 23230
(206) 625-1755 

4. Banner Life Insurance Company

You may either contact them at:

Banner Life Insurance Company
1701 Research Blvd.
Rockville, MD 20850
(800) 638-8428 

5. Ohio National Life Assurance Corporation

You may either contact them at:

Ohio National Life Assurance Corporation
1 Financial Way
Cincinnati, OH 45242
(513) 794-6100 

6.  ReliaStar Life Insurance Company

You may contact them at:

ReliaStar Life Insurance Company
5780 Powers Ferry Road NW
Atlanta, GA 30327
(612) 372-5432

7. Security Mutual Life Insurance Co of NY

You may contact them at:

Security Mutual Life Insurance Company of New York
Court House Square
P.O. Box 1625
Binghamton, NY 13902
(607) 723-3551 

8. Savings Bank Life Insurance Co of MA

You may contact them at:

Savings Bank Life Insurance Company of MA
One Linscott Road
Woburn, Massachusetts 01801
(781) 938-3500 

9. Liberty Life Insurance Company

You may contact them at:

Liberty Life Insurance Company
P.O. Box 789
2000 Wade Hampton Boulevard
Greenville, SC 29602
(864) 609-8111

10.  Minnesota Life Insurance Company

You may contact them at:

Minnesota Life Insurance Company
Minnesota Mutual Center
400 Robert Street North
St. Paul, MN 55101
(651) 665-3500 

11.  Transamerica Life Insurance Company

You may contact them at:

Transamerica Life Insurance Company
1150 South Olive St.
Los Angeles, CA 90015
(800) 293-0005 

12. Ameritas Life Insurance Corporation

You may contact them at:

Ameritas Life Insurance Corporation
P.O. Box 81889
Lincoln, NE 68501
(800)745-6665 

13. Northwestern Mutual Life Insurance

You may contact them at:

Northwestern Mutual Life Insurance Company
720 East Wisconsin Avenue
Milwaukee, WI 53202
(414) 271-1444 

14.  National Life Insurance Co of Vermont

15. Midland National Life Insurance Company

You may contact them at:

Midland National Life Insurance Company
1 Midland Plaza
Sioux Falls, SD 57193
(605) 335-5700 

Financial strength is an important consideration when buying term life insurance; therefore, only companies rated A- or better by A.M. Best Company, a credit rating organization, are included in the list.