Updated: November 21, 2024
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Mutual of Omaha is the best life insurance provider in Buffalo, New York, receiving a MoneyGeek score of 89 for men and 91 for women. Men may pay a monthly premium of $20, while $17 for women.
These scores and premiums are based on a 20-year term policy with $500,000 coverage. When deciding on life insurance, consider various factors such as cost, customer satisfaction, stability and your unique needs.
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 Buffalo, New York.
Coverage costs and company information for life insurance providers were updated in October 2024.
BestLife InsuranceBuffalo, NYBest Life Insurance Companies in Buffalo
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.
Mutual of Omaha offers the best life insurance in Buffalo for both men and women, with a MoneyGeek score of 89 and 91 out of 100, respectively. On average, premiums are $20 per month for men and $17 for women.
Top providers for men:
Top providers for women:
Mutual of Omaha's scores are all thanks to its high customer satisfaction and affordability.
Mutual of Omaha is the premier choice for life insurance in Buffalo for men and women, ensuring affordability without compromising on quality.
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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.
For those in Buffalo looking for the best term life insurance, Mutual of Omaha scored high for men and women, with a MoneyGeek score of 90 and 91, respectively.
The top two term life insurance companies for men are:
The top two term life insurance companies for women are:
Term life insurance provides death benefits if the insured passes away during a specified term. It is often chosen for its lower premiums than permanent life insurance and its suitability for those with temporary financial responsibilities, such as mortgage or education expenses.
Mutual of Omaha is the top term life insurance provider for men and women in Buffalo, with stellar MoneyGeek scores of 90 and 91, respectively. Its affordable average monthly premiums make it a dependable choice for those seeking financial security.
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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.
For individuals in Buffalo seeking the best whole life insurance, Mutual of Omaha is the top choice, with a MoneyGeek score of 91 for both men and women. This score reflects the company's commitment to excellence in cost, customer satisfaction and financial stability.
Top whole life companies for men and women in Buffalo:
Whole life insurance provides a fixed premium and a guaranteed death benefit, making it suitable for those who value predictability and lifelong coverage. Parents may choose it to ensure their child's financial future.
Mutual of Omaha is the best choice for whole life insurance in Buffalo, scoring 91 for both men and women. It's a reliable choice for life insurance needs thanks to its high customer satisfaction and affordability.
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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 Buffalo is Mutual of Omaha for both men and women, boasting a MoneyGeek score of 90. It's the optimal choice for the average individual looking for a reliable insurance policy.
Best universal life insurance for men and women:
Universal life insurance offers flexibility in premiums and death benefits, making it a good choice for long-term coverage with an investment savings element. Young professionals might choose it to secure a fixed insurance cost throughout their lifetime while accruing cash value that can be borrowed if needed.
Mutual of Omaha received a MoneyGeek score of 90 for both men and women, making it a top choice for those looking for reliable universal life insurance.
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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.
Mutual of Omaha stands as the best no-medical-exam life insurance provider in Buffalo, with a MoneyGeek score of 90 for both men and women. It's an excellent choice for individuals seeking straightforward insurance without needing a medical exam.
Top life insurance for men and women that does not require a medical exam:
Life insurance without a medical exam grants coverage without the insured undergoing a health examination. A person with a chronic illness might opt for no-medical-exam insurance to avoid the possibility of being denied coverage or facing exorbitant costs.
Mutual of Omaha is the premier provider of no-medical-exam life insurance in Buffalo for both men and women. Its MoneyGeek score of 90 illustrates its dedication to consumer trust and economic solidity.
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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.
The best term life insurance for seniors is Mutual of Omaha, with a MoneyGeek score of 90 for both men and women. Men can expect a monthly premium of $37, while women are quoted $33.
Age is pivotal in life insurance premiums, with costs typically higher for individuals in their later years. This is due to the increased risk for insurers as policyholders age.
| 1 | Mutual of Omaha | $37 | 90 |
| 2 | Allstate | $30 | 88 |
| 3 | Prudential | $25 | 88 |
| 4 | Nationwide | $56 | 86 |
| 5 | Haven | $42 | 85 |
| 6 | State Farm | $68 | 84 |
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 is the top provider of the best term life insurance for smokers in Buffalo, with a MoneyGeek score of 90 for both men and women. The average monthly premium for men is $36, while for women, it's $32.
Smoking is a significant factor in determining life insurance premiums due to the associated health risks, leading to higher costs for smokers.
| 1 | Mutual of Omaha | $36 | 90 |
| 2 | Haven | $26 | 87 |
| 3 | Prudential | $33 | 86 |
| 4 | Nationwide | $62 | 86 |
| 5 | State Farm | $55 | 85 |
| 6 | Allstate | $56 | 85 |
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.
In Buffalo, Mutual of Omaha offers the best term life insurance for young adults, with a MoneyGeek score of 90 and an average monthly premium of $5 for both men and women.
Age plays a significant role in the cost of life insurance premiums. Younger individuals typically benefit from lower rates due to their lower risk profiles.
| 1 | Mutual of Omaha | $5 | 90 |
| 2 | Haven | $3 | 87 |
| 3 | Allstate | $5 | 87 |
| 4 | Nationwide | $8 | 86 |
| 5 | Prudential | $5 | 86 |
| 6 | State Farm | $11 | 84 |
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.
For those seeking the best cheap term life insurance in Buffalo, Mutual of Omaha is the top choice. It has a MoneyGeek score of 90 and average monthly premiums of $7 for women and $8 for men.
Various factors influence the cost of life insurance premiums, including age, health, coverage amount and term length. To secure the lowest premiums, maintain good health, choose the appropriate coverage amount and compare quotes from multiple providers.
| 1 | Mutual of Omaha | $8 | 90 |
| 2 | Haven | $6 | 89 |
| 3 | Allstate | $8 | 89 |
| 4 | Prudential | $7 | 89 |
| 5 | Nationwide | $13 | 86 |
| 6 | State Farm | $17 | 82 |
The average monthly premium for term life insurance in Buffalo, New York, is $29 for women and $33 for men. Knowing these rates can help consumers in the city make informed decisions when purchasing life insurance.
Several factors affect the cost of life insurance premiums, including age, health, lifestyle and occupation. Insurance companies assess these factors to determine the risk associated with insuring an individual.
The cost of life insurance in Buffalo might be higher or lower compared to other parts of New York due to various reasons. Local economic conditions, health statistics and lifestyle trends can influence insurance premiums. For instance, if Buffalo has higher health care costs or incidence of certain health conditions, premiums might be higher. Conversely, lower living costs or healthier lifestyle trends could result in lower premiums.
Mutual of Omaha offers the best life insurance for men in Buffalo, with a MoneyGeek score of 89. This score is the highest among all companies evaluated for men in the city.
The monthly premium cost for the best life insurance for men in Buffalo, offered by Mutual of Omaha, is $20. This cost is based on the highest MoneyGeek score for men in the city.
Mutual of Omaha provides the best life insurance for women in Buffalo, with a MoneyGeek score of 91. This score is the highest among all companies evaluated for women in the city.
The monthly premium cost for the best life insurance for women in Buffalo, offered by Mutual of Omaha, is $17. This cost is based on the highest MoneyGeek score for women in the city.
Life insurance in Buffalo may differ from the rest of New York in terms of company ratings and costs. For example, Mutual of Omaha has the highest MoneyGeek score in Buffalo for both men and women. These scores and corresponding costs might vary in other cities across New York, reflecting regional differences in insurance offerings.
If a life insurance company goes bankrupt in Buffalo, state guaranty associations typically protect policyholders. These associations cover the claims of insolvent insurers, ensuring that policyholders receive their benefits. It's important to check the specific coverage limits and protections offered by the New York state guaranty association.
Buffalo residents might need life insurance for several reasons, including providing financial security for their families, covering outstanding debts and ensuring that loved ones can maintain their standard of living. Life insurance can also help with final expenses and estate planning, offering peace of mind.
To find a lost life insurance policy in Buffalo, start by contacting the insurance company directly. If this is unsuccessful, you can use resources provided by the New York State Department of Financial Services, which offers tools to help locate lost policies. Additionally, checking with the state's unclaimed property office may yield results.
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.
