Best Life Insurance in Allen, TX (October 2024)

Protective is the best life insurance provider for men and women in Allen, Texas. For women, it has a MoneyGeek score of 92 and an average monthly premium of $46. For men, the MoneyGeek score is 91, and the average monthly premium is $81. These scores and premium costs are based on a 20-year term policy with $500,000 coverage.

When deciding on life insurance, consider various factors such as your age, health and financial situation. Your unique needs may mean a different company is best for you.

Protective is the best life insurance company in Allen, with a MoneyGeek score of 91 for men and 92 for women. The average monthly premiums are $81 for men and $46 for women.

Top providers for men:

• Protective: MoneyGeek score of 91 out of 100 at $81 per month for men
• Mutual of Omaha: MoneyGeek score of 91 out of 100 at $80 per month for men

Top providers for women:

• Protective: MoneyGeek score of 92 out of 100 at $46 per month for women
• Mutual of Omaha: MoneyGeek score of 89 out of 100 at $60 per month for women

Protective offers the best combination of affordability, customer satisfaction and financial stability, making it a reliable choice for life insurance in Allen.

In Allen, Mutual of Omaha provides the best term life insurance for men, with a MoneyGeek score of 91 and an average monthly premium of $39. Protective leads for women with a MoneyGeek score of 92 and an average monthly premium of $25. These companies' high scores indicate a strong combination of affordability, customer satisfaction and financial stability, essential for the average individual seeking reliable term life insurance coverage.

The top two term life insurance companies for men are:

• Mutual of Omaha: MoneyGeek score of 91 out of 100 at $39 per month for men
• Protective: MoneyGeek score of 91 out of 100 at $40 per month for men

For women, the top two are:

• Protective: MoneyGeek score of 92 out of 100 at $25 per month for women
• Mutual of Omaha: MoneyGeek score of 90 out of 100 at $34 per month for women

Term life insurance provides coverage for a specified period, offering a death benefit to beneficiaries if the policyholder passes away during the term. For example, a parent might purchase a 20-year term policy to ensure their child's education expenses are covered in the event of their untimely death.

Protective provides the best whole life insurance in Allen, with a MoneyGeek score of 92 for men and women. This score signifies the company's excellence in affordability, customer satisfaction, buying process and financial stability.

Top whole life companies for men in Allen:

• Protective: MoneyGeek score of 92 out of 100 for men
• Mutual of Omaha: MoneyGeek score of 91 out of 100 for men

Top whole life companies for women in Allen:

• Protective: MoneyGeek score of 92 out of 100 for women
• Mutual of Omaha: MoneyGeek score of 91 out of 100 for women

Whole life insurance is a permanent policy that provides coverage for the insured's entire lifetime as long as premiums are paid. It can be an attractive option for someone who wants to ensure financial security for their beneficiaries and potentially build cash value over time. For instance, a parent might choose whole life insurance to provide for their children's future, regardless of when the parent passes away.

In Allen, Protective provides the best universal life insurance, with a MoneyGeek score of 91 for men and women. This score indicates the company's excellence in affordability, customer satisfaction and financial stability.

Best universal life insurance for men:

• Protective: MoneyGeek score of 91 out of 100 for men
• Mutual of Omaha: MoneyGeek score of 90 out of 100 for men

Best for women's universal life insurance:

• Protective: MoneyGeek score of 91 out of 100 for women
• Mutual of Omaha: MoneyGeek score of 90 out of 100 for women

Universal life insurance offers flexible premiums and the potential for cash value growth, making it a versatile option for long-term financial planning. For instance, someone might choose universal life insurance over term life insurance because it allows them to accumulate savings that can be borrowed against in the future.

In Allen, Protective provides the best no-medical-exam life insurance for men and women, with a MoneyGeek score of 91 out of 100 for both. This score reflects the company's commitment to affordability, customer satisfaction and financial stability, making it an ideal choice for individuals seeking a straightforward life insurance policy without the hassle of a medical exam.

Best no-medical-exam life insurance for men:

• Protective: MoneyGeek score of 91 out of 100 for men
• Mutual of Omaha: MoneyGeek score of 90 out of 100 for men

Best life insurance for women that does not require a medical exam:

• Protective: MoneyGeek score of 91 out of 100 for women
• Mutual of Omaha: MoneyGeek score of 90 out of 100 for women

Life insurance without a required medical exam allows individuals to obtain coverage without undergoing a medical assessment. This type of policy can benefit those with health concerns or a need for quick coverage.

For men seeking the best term life insurance for seniors in Allen, Mutual of Omaha stands out with a MoneyGeek score of 91 and an average monthly premium of $160. Women find Protective as their top choice, with a MoneyGeek score of 92 and an average monthly premium of $107.

Age influences life insurance premiums, as the risk of health issues increases with age, leading to higher costs. Mutual of Omaha and Protective lead due to their strong performance across affordability, customer satisfaction, buying process, financial stability and product diversity. These factors contribute to their high MoneyGeek scores, making them reliable options for seniors prioritizing security and value.

For men in Allen, Mutual of Omaha provides the best term life insurance for smokers, with a MoneyGeek score of 91 and an average monthly premium of $88. For women, Allstate takes the lead with a MoneyGeek score of 89 and a monthly premium of about $47. These companies' high scores indicate their excellence across various factors, including affordability and customer satisfaction.

Smoking impacts life insurance premiums significantly due to the heightened health risks associated with tobacco use. Insurers often charge smokers higher rates to account for these risks.

For those seeking the best term life insurance for young adults in Allen, Protective stands out with a MoneyGeek Score of 92 for men and women. Its average monthly premiums are $25 and $15, respectively.

Age is a crucial factor in determining life insurance premiums. Younger adults often benefit from lower premiums due to their lower risk of health issues. Protective's high MoneyGeek score reflects its strong affordability, customer satisfaction and financial stability. These factors make it an excellent choice for young adults in Allen looking for reliable coverage at a reasonable cost.

For men seeking the best cheap term life insurance in Allen, Nationwide stands out with a MoneyGeek score of 93 and an average monthly premium of $36. For women, Protective leads with a MoneyGeek score of 92 and a monthly premium of around $25. Nationwide and Protective offer competitive premiums, making them top choices for affordable term life insurance in Allen.

Factors affecting life insurance premiums include age, health, coverage amount and term length. To get the lowest premiums, maintain excellent health, choose a shorter term length and opt for a lower coverage amount.

The average monthly cost of term life insurance in Allen is $29 for men and $24 for women.

Many factors influence life insurance premiums, including age, health, lifestyle, occupation, the amount of coverage and term length. Insurers assess these factors to determine the risk associated with providing coverage.

Life insurance costs in Allen may differ from those in the rest of Texas due to various local factors. Health trends, economic conditions and specific risk factors unique to the area can impact premium costs. Additionally, competition among insurers in Allen can affect pricing, leading to variations compared to other regions in Texas.