This is a really basic product that seems like it should be a commodity - if you die, your beneficiary gets paid. Is there any rationale for not going with the cheapest provider (so long as reputable, decent credit rating, etc)?
Rates for life insurance vary by insurer because each life insurance company has their own set of pricing and acceptance guidelines.
Also, some insurers specialize in insuring certain types of risk, such as, diabetes, smokers, or older people, so they may be more aggressive in their pricing for these types of applicants.
It's important your insurance company has a strong financial rating, which is an indicator of the insurance company's ability to meet their financial obligations.
Also, consider the insurer's customer service and how long the insurer has been in business.
And, make sure you are comparing apples-to-apples when it comes to finding the best plan and price. Some policies may offer lower premiums at the beginning of the coverage, but rates can increase over time.
However, level term life insurance usually provides an affordable option for a period of 10, 15, 20 or 30 years, or until you reach age 65 or 70.
And, make sure you compare term life insurance quotes among the leading life insurance companies to help you find the most competitive rate on your policy.