Updated: November 22, 2024
Advertising & Editorial Disclosure
In Albuquerque, New Mexico, Protective is the best life insurance provider for both men and women, receiving a MoneyGeek score of 91. For women, the average monthly premium is $34, while for men, it is $41. These scores and premium costs are based on a 20-year term policy with $500,000 coverage.
Your unique needs may mean a different company is best for you. It's important to evaluate your specific circumstances and preferences before deciding.
Why Trust MoneyGeek? We analyzed 1,488 life insurance quotes alongside customer satisfaction, financial stability reports, product offerings and more to determine the best life insurance companies in Albuquerque, New Mexico.
Coverage costs and company information for life insurance providers were updated in October 2024.
BestLife InsuranceAlbuquerque, NMBest Life Insurance Companies in Albuquerque
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to score and rank the overall best life insurance companies:
This was done using the average profile with a 20-year term policy and $500K coverage.
In Albuquerque, Protective offers the best life insurance for both men and women, with a MoneyGeek score of 91 and monthly premiums of $41 for men and $34 for women.
Top providers for men:
Top providers for women:
Protective enforces affordable premiums for comprehensive coverages.
Protective is the leading life insurance provider in Albuquerque. Its MoneyGeek score is 91 for men and women, with an approximate monthly premiums of $41 and $34, respectively.
Pros:
Cons:
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to score and rank the best term life insurance companies:
Quotes gathered were for a $250K life insurance policy with a 10-year term.
Protective is the leading provider of the best term life insurance in Albuquerque. Its MoneyGeek score is 66 for men and 65 for women, with average monthly premiums of $20 and $19, respectively.
The top two term life insurance companies for men are:
For women, the top two are:
Term life insurance provides coverage for a specified term, often chosen for its affordability and simplicity. For example, parents might purchase a 20-year term policy to ensure their child's education costs are covered in the event of their untimely passing.
Protective is the leading choice for men and women seeking term life insurance in Albuquerque, boasting a MoneyGeek score of 66 and 65, respectively. Its affordable monthly premiums offer a balance of cost and quality service.
Pros:
Cons:
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to score and rank the best whole life insurance companies:
We did not weigh affordability as we did not collect whole life insurance quotes. The company below has the highest score among the companies that offer whole life insurance policies based on a 20-year term at $500K coverage.
The best whole life insurance in Albuquerque is Protective. Its MoneyGeek score of 92 for men and women reflects its exceptional performance across metrics such as affordability, customer satisfaction and financial stability.
Top whole life companies in Albuquerque:
Whole life insurance is a type of permanent life insurance that offers a death benefit with a savings component. Someone might opt for whole life insurance to ensure lifelong coverage and accumulate a cash value that can be borrowed.
Protective is the best whole life insurance provider in Albuquerque for both men and women, boasting a MoneyGeek score of 92. Consumers can trust Protective's comprehensive insurance solution tailored to their needs.
Pros:
Cons:
Ensure you're getting the best rate for your life insurance. Compare quotes from top providers to find the most affordable life insurance coverage for your needs.
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to score and rank the best universal life insurance companies:
We did not weigh affordability as we did not collect universal life insurance quotes. The company below has the highest score among the companies that offer universal life insurance policies, over a 10-year term for $250K coverage.
The best universal life insurance in Albuquerque is Protective, with a MoneyGeek score of 91 for men and women. It's a solid choice for anyone seeking cost-effective life insurance coverage.
The two best universal life insurance providers:
Universal life insurance is a flexible policy that combines life insurance with a savings element. Someone might choose this over a term life insurance for the potential to accumulate cash value that they can borrow in the future.
In Albuquerque, Protective is the best company for universal life insurance. It got a MoneyGeek score of 91 for both men and women, reflecting its strong position in the market and ability to meet its customers' needs.
Pros:
Cons:
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to score and rank the best life insurance companies that don't require a medical exam:
We did not weigh affordability as we did not collect any insurance quotes for this category. The company below has the highest score among the companies that offer life insurance policies without mandatory medical exams, for a 10-year term with $250K coverage if the insuree was in poor health.
When looking for the best no-medical-exam life insurance company in Albuquerque, Protective stands out with a MoneyGeek score of 63.
Top providers of life insurance without a medical exam in Albuquerque:
Life insurance without a mandatory medical assessment does not require a medical exam to be approved, for a quicker and more convenient way to secure coverage. Someone with a busy lifestyle or a minor, pre-existing condition might choose this to avoid the hassle and potential obstacles of a traditional medical underwriting process.
Protective provides the top choice for life insurance without a medical exam in Albuquerque for men and women who want easy application and assurance in their coverage decisions.
Pros:
Cons:
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to score and rank the best term life insurance companies for seniors:
We derived quotes using a $250K life insurance policy with a 10-year term and adjusted the sample buyer's age to 70.
For men seeking the best term life insurance for seniors in Albuquerque, Mutual of Omaha is the top choice, with a MoneyGeek score of 91 and an average monthly premium of $87. Women may opt for Protective, which scored 90 at the same monthly premium.
Premiums increase with age due to the higher risk associated with insuring older individuals. Mutual of Omaha and Protective are options for seniors who prioritize security and value in their life insurance selection.
| 1 | Mutual of Omaha | $87 | 91 |
| 2 | Protective | $96 | 91 |
| 3 | Nationwide | $72 | 90 |
| 4 | AAA | $94 | 89 |
| 5 | Transamerica | $69 | 88 |
| 6 | Allstate | $82 | 88 |
| 7 | Prudential | $77 | 87 |
| 8 | State Farm | $132 | 86 |
| 9 | Haven | $205 | 82 |
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to score and rank the best term life insurance companies for people who smoke:
We collected quotes using a $250K life insurance policy with a 10-year term and adjusted the sample buyer to reflect an active smoker.
Mutual of Omaha offers the top term life insurance for men and women smokers, with a MoneyGeek score of 61 for men and 55 for women and an average monthly premium of $52.
Smoking significantly influences life insurance premiums due to the associated health risks. Customer satisfaction, affordability and financial stability are crucial factors when choosing the best term life insurance for smokers.
| 1 | Mutual of Omaha | $52 | 90 |
| 2 | Nationwide | $51 | 89 |
| 3 | AAA | $54 | 88 |
| 4 | Transamerica | $46 | 88 |
| 5 | Prudential | $41 | 88 |
| 6 | Protective | $81 | 87 |
| 7 | State Farm | $70 | 86 |
| 8 | Allstate | $78 | 84 |
| 9 | Haven | $94 | 82 |
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to score and rank the best term life insurance companies for young adults:
We collected quotes using a $250K life insurance policy with a 10-year term for a 20-year-old buyer.
For the best term life insurance for young adults in Albuquerque, Protective is the stand-out provider with a MoneyGeek score of 92 and average monthly premiums of $11 for women and $12 for men.
Age impacts life insurance premiums, with younger adults generally benefiting from lower rates. Choosing Protective ensures that young adults receive comprehensive coverage at a competitive price.
| 1 | Protective | $12 | 92 |
| 2 | Mutual of Omaha | $15 | 91 |
| 3 | Nationwide | $14 | 90 |
| 4 | Allstate | $12 | 89 |
| 5 | AAA | $17 | 88 |
| 6 | Transamerica | $13 | 88 |
| 7 | State Farm | $25 | 85 |
| 8 | Prudential | $19 | 85 |
| 9 | Haven | $20 | 84 |
| 10 | Bestow | $27 | 83 |
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to score and rank the best cheap term life insurance companies:
We adjusted the weighting to favor affordability for a $250K life insurance policy with a 10-year term.
The best cheap term life insurance in Albuquerque is Protective. It received MoneyGeek scores of 92 for men and 91 for women, with monthly premiums of $20 and $19, respectively.
Factors affecting life insurance premiums include age, health, coverage amount and term length. To get the lowest premiums, maintain a healthy lifestyle, choose a shorter term and compare multiple quotes.
| 1 | Protective | $20 | 92 |
| 2 | Nationwide | $22 | 92 |
| 3 | Allstate | $20 | 91 |
| 4 | Transamerica | $20 | 91 |
| 5 | Mutual of Omaha | $23 | 90 |
| 6 | AAA | $26 | 88 |
| 7 | Prudential | $27 | 86 |
| 8 | Haven | $35 | 83 |
| 9 | State Farm | $38 | 82 |
The average monthly premium for term life insurance in Albuquerque, New Mexico, is $29 for women and $33 for men. Knowing these rates can help consumers make informed decisions when purchasing life insurance.
Insurance companies assess factors, including age, health, lifestyle and occupation, to determine the risk associated with insuring an individual.
The cost of life insurance in Albuquerque might be higher or lower than in other parts of New Mexico for different reasons, such as local economic conditions, health statistics and lifestyle trends.
For instance, if Albuquerque has higher health care costs or a higher incidence of certain health conditions, premiums might be higher. Conversely, lower living costs or healthier lifestyle trends could result in lower premiums.
Protective has the best life insurance for men in Albuquerque, with a MoneyGeek score of 91. This score reflects its excellent customer satisfaction and financial stability.
The monthly premium cost for the best life insurance for men in Albuquerque is $41. Protective offers this rate, providing a balance of affordability and coverage.
Protective offers the best life insurance for women in Albuquerque, with a MoneyGeek score of 91. This score is based on customer satisfaction and financial stability.
The monthly premium cost for the best life insurance for women in Albuquerque is $34. Protective provides this rate, combining affordability with excellent coverage.
Life insurance companies in Albuquerque may have different premium rates and offerings compared to other parts of New Mexico. For instance, Protective offers competitive rates and high MoneyGeek scores in Albuquerque. However, other cities may have different top-rated companies and premium costs.
If a life insurance company goes bankrupt in Albuquerque, state guaranty associations typically step in. They provide coverage up to certain limits, ensuring policyholders are protected. It's important to check the specific limits and protections offered by New Mexico's guaranty association.
Albuquerque residents might need life insurance to provide financial security for their families. It can cover expenses such as mortgages, education and daily living costs. Life insurance also helps manage debts and ensures loved ones are not burdened financially in the event of an untimely death.
To find a lost life insurance policy in Albuquerque, check through personal documents and bank statements for premium payments. Contact past employers and insurance agents. You can also use online tools and databases, such as the NAIC's Life Insurance Policy Locator, to assist in your search.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
