Best Life Insurance in Ann Arbor, MI (November 2024)

Based on MoneyGeek scores, the best life insurance provider in Ann Arbor, Michigan, varies by gender. Protective is the top choice for women, with a score of 92 and an average monthly premium of $27. For men, Mutual of Omaha got the highest score of 91, with an average monthly premium of $40.

These scores and premium costs are based on a 20-year term policy with $500,000 coverage. Different factors, such as personal health, age and financial goals, should be considered when deciding on life insurance.

Mutual of Omaha offers the best life insurance for men in Ann Arbor, with a MoneyGeek score of 91 and an average monthly premium of $40. Protective is the top provider for women, with a MoneyGeek score of 92 and an average monthly premium of $27.

Top providers for men:

• Mutual of Omaha: MoneyGeek score of 91 out of 100 at $40 per month for men
• Protective: MoneyGeek score of 91 out of 100 at $42 per month for men

Top providers for women:

• Protective: MoneyGeek score of 92 out of 100 at $27 per month for women
• Mutual of Omaha: MoneyGeek score of 90 out of 100 at $33 per month for women

Mutual of Omaha and Protective provide reliable and cost-effective life insurance options for residents in Ann Arbor.

Men seeking the best term life insurance in Ann Arbor should consider Mutual of Omaha, which has a MoneyGeek score of 92 and an average monthly premium of $17. Women will find Protective the top choice, receiving a score of 91 at $14 per month.

The top two term life insurance companies for men are:

• Mutual of Omaha: MoneyGeek score of 92 out of 100 at $17 per month for men
• Protective: MoneyGeek score of 91 out of 100 at $19 per month for men

For women, the top two are:

• Protective: MoneyGeek score of 91 out of 100 at $14 per month for women
• Mutual of Omaha: MoneyGeek score of 91 out of 100 at $15 per month for women

Term life insurance is a policy that offers death benefits if the insured passes away during a specified term. It is often chosen for its simplicity and lower premiums than permanent life insurance. For example, parents might buy term insurance to ensure their child's education costs are covered in the event of their untimely death.

In Ann Arbor, Protective is the provider of the best whole life insurance for both men and women, with a MoneyGeek score of 92. This score reflects the company's strong performance across key metrics, making it a reliable choice for those seeking financial security through life insurance.

Top whole life companies in Ann Arbor:

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

Whole life insurance is a permanent life insurance that covers the insured's entire lifetime as long as premiums are paid. One might choose whole life insurance over term policies for its cash value component, which can serve as a financial asset against which to borrow in the future.

Protective is the best universal life insurance provider in Ann Arbor for both men and women, boasting a MoneyGeek score of 91 for each. This high score is due to its affordability, customer satisfaction, financial stability and product diversity.

Best providers of universal life insurance:

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

Universal life insurance is a form of permanent life insurance that offers flexible premiums and the potential to accumulate cash value over time. Someone interested in coverage and a savings vehicle that can grow tax-deferred may find the best universal life insurance a suitable option over term or whole life insurance.

Protective is the best no-medical-exam life insurance provider in Ann Arbor for both men and women, boasting a MoneyGeek score of 91. It offers top-tier financial stability, customer satisfaction and product diversity, ensuring a reliable and satisfying insurance experience.

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

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

Life insurance without a medical exam allows individuals to obtain coverage without undergoing a physical examination. It is ideal for those who need insurance quickly or have health issues that might prevent them from passing a traditional medical exam.

For senior men seeking the best term life insurance for seniors in Ann Arbor, Mutual of Omaha leads with a MoneyGeek score of 66 and an average monthly premium of $70. Women find Protective at the forefront, scoring 64 with a $58 average monthly cost.

Age affects insurance premiums; as individuals grow older, the likelihood of health issues increases, leading to higher costs for insurers and higher premiums for consumers.

For those seeking the best term life insurance for smokers in Ann Arbor, Mutual of Omaha is the best option, with a MoneyGeek score of 91 for men and 89 for women. The average monthly premiums are $38 for men and $34 for women.

Insurers consider smoking when determining premiums, as it can significantly increase health risks and the likelihood of claims. Mutual of Omaha is a competitive choice for individuals prioritizing a comprehensive insurance package that meets their needs.

For those seeking the best term life insurance for young adults in Ann Arbor, Mutual of Omaha is the top provider for men, with a MoneyGeek score of 92 and an average monthly premium of $11. For women, Protective got the highest MoneyGeek score of 92 and an average monthly premium of $8.

Term life insurance for young adults is crucial as age significantly impacts the cost of premiums. They typically benefit from lower rates, making it essential to choose a provider with high affordability, customer satisfaction and financial stability.

For the best cheap term life insurance in Ann Arbor, Nationwide tops the list for men with a MoneyGeek score of 93 and an average monthly premium of $17. For women, Protective is the leading provider, with a MoneyGeek score of 92 and an average monthly premium of $16.

Age, health and coverage all influence the cost of life insurance. To get the lowest premiums, maintain good health, avoid tobacco use and compare quotes from different insurers.

The average monthly premium for term life insurance in Ann Arbor is $26 for women and $38 for men.

Many factors can affect the cost of life insurance premiums, including age, health, lifestyle, occupation, coverage amount and the type of policy you choose.

In Ann Arbor, the cost of life insurance might be higher or lower compared to the rest of Michigan for several reasons, such as local health statistics, cost of living and differences in regional underwriting practices. Areas with better overall health might see lower premiums, while higher living expenses might translate to higher premiums.

Understanding these factors can help you make informed decisions about your life insurance needs.