Life Insurance for Ministers

Life insurance for ministers is about $26/mo on average. However, life insurance rates are based on personal factors, such as age, gender, policy type, death benefits, and company. To secure cheap life insurance quotes for ministers, you'll have to shop around and compare the top providers for the best rates.

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Chris Tepedino is a feature writer that has written extensively about home, life, and car insurance for numerous websites. He has a college degree in communication from the University of Tennessee and has experience reporting, researching investigative pieces, and crafting detailed, data-driven features. His works have been featured on CB Blog Nation, Flow Words, Healing Law, WIBW Kansas, and C...

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Laura Walker graduated college with a BS in Criminal Justice with a minor in Political Science. She married her husband and began working in the family insurance business in 2005. She became a licensed agent and wrote P&C business focusing on personal lines insurance for 10 years. Laura serviced existing business and wrote new business. She now uses her insurance background to help educate...

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Reviewed by Laura Walker
Former Licensed Agent

UPDATED: Jul 16, 2021

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The Rundown

  • Life insurance quotes for ministers is the same as most people in the United States
  • Some companies focus on customers who are pastors or church members
  • Term life insurance is one of the best options for ministers

Life insurance for ministers is no different than life insurance for any other person in the United States.

While some companies provide life insurance specifically to church officials, some of the best policies come from providers with years of experience.

So what life insurance companies are best for minister life insurance? Continue reading to learn to buy life insurance for ministers, what policy types are best, and which companies provide the best insurance service.

Are you ready to search for life insurance quotes for ministers? Enter your ZIP code in the free comparison tool above to compare the top insurance companies near you.

How much are life insurance rates for ministers?

Minister life insurance is the same as most people who want life insurance. For 20-year-old females, life insurance rates are as low as $8 per month for a $100,000 term life policy. Male policyholders pay at least $1 more per month.

However, life insurance rates for pastors increase every five to ten years. How much more? Increases depend on health, lifestyle, policy type, and coverage limit.

On average, your monthly life insurance premium could increase by $7 to $14. Since most people get life insurance later in their mid-30s and early 40s, the average cost of life insurance is about $26 per month.

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What are the best life insurance policies for ministers?

Ministers, pastors, etc., have the same opportunities to buy life insurance. This means that clergy have the same rights to life insurance as anyone else. Here is a list of life insurance policy types for ministers.

While term life insurance is the cheapest option, it only lasts for a decade or two. It depends on the company that has your policy.

Pastors are key church members, so pastor life insurance should include debts and other expenses to ensure the church continues after they pass away.

All life insurance types can include church, family, and anyone the policyholder chooses.

How much is personal life insurance for pastors? That depends on the expenses of the policyholder. Ministers can maximize their life insurance death benefits (coverage limits), but higher policy limits mean more expensive rates.

What are the best life insurance companies for ministers?

Affordable life insurance for ministers is possible at any company. But which companies are best for life insurance? Let’s look at the top companies and their financial strength and customer satisfaction ratings.

Life Insurance Companies with the Highest Ratings
CompaniesBetter Business Bureau (BBB)A.M. BestJ.D. Power
AXA EquitableA+A+752
Banner LifeA+A+N/A
Guardian LifeA+A++760
John HancockA+A+739
Lincoln FinancialA+A+744
Mass MutualA+A++780
Mutual of OmahaA+A+766
Pacific LifeA+A+N/A
Principal FinancialA+A+774
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While some customers and businesses question the BBB, A.M. Best and J.D. Power are exceptional rating agencies.

What about companies that target ministers and pastors? Church Pension Group and Guide Stone Insurance are insurance companies that provide coverage to church officials.

Try getting a quote from them and compare to the best companies to see which is better.

Life Insurance for Ministers: What are the best life insurance policy features?

Each company has unique features for its life insurance policies. However, the standard features are nestled in life insurance riders.

What are life insurance riders? Life insurance riders are add-ons that expand your life insurance policy.

For example, accident death & dismemberment (AD&D) provides a payout if a policyholder dies in an accident or loses a limb. Life insurance may cost extra with a rider, but it’s not a massive increase.

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Life Insurance for Ministers: What’s the bottom line?

Term life insurance is the most cost-efficient option for ministers, but there are permanent life insurance policy advantages at a higher cost. Ministers can insure their church and members by adding them as beneficiaries.

Are smaller life insurance companies better? Now that you know more life insurance for ministers, use our free online quote tool to see which companies are best in your local area.

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