Updated: November 22, 2024
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The best life insurance company in Cambridge, Massachusetts, is Protective. Its MoneyGeek score is 91 for both men and women, with average monthly premiums of $43 and $36, respectively.
These scores and premium costs are based on a 20-year term policy with $500,000 coverage. Different factors should be considered when picking life insurance. Your unique needs may mean a different company is best for you.
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 Cambridge, Massachusetts.
Coverage costs and company information for life insurance providers were updated in October 2024.
BestLife InsuranceCambridge, MABest Life Insurance Companies in Cambridge
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.
If you're looking for the best life insurance in Cambridge, Protective stands out with its high MoneyGeek score of 91. The average monthly premiums are $43 for men and $36 for women.
Top providers for men:
Top providers for women:
Protective excels in affordability, customer satisfaction and financial stability.
In Cambridge, Protective is the overall best life insurance. It got an impressive MoneyGeek score of 91 and offers average monthly premiums of $36 for women and $43 for men.
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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.
Protective is the top pick for the best term life insurance in Cambridge, with a MoneyGeek score of 91. The average monthly premiums are $18 for men and $16 for women.
The top two term life insurance companies for men are:
For women, the top two are:
Term life insurance is a policy where a beneficiary receives a payout if the policyholder passes away within a set term. For example, parents might buy term insurance to ensure their child's education in the event of their untimely death.
Protective is the leading provider of term life insurance for men and women in Cambridge, offering value and satisfaction. With a MoneyGeek score of 91, Protective's average monthly premiums for men are $18 and $16 for women.
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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.
Protective is the best whole life insurance provider in Cambridge, with a MoneyGeek score of 66.
Top whole life companies in Cambridge:
Whole life insurance is a type of permanent life insurance that offers lifelong coverage and includes an investment component known as the cash value. For example, someone might choose over term life insurance for the benefit of guaranteed cash value growth, which can serve as a financial resource during their lifetime.
Protective emerges as the top choice for the best whole life insurance in Cambridge. With a MoneyGeek score of 66, its robust offerings cater to both men and women.
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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.
Protective leads as the best universal life insurance provider in Cambridge, with a MoneyGeek score of 91 for both men and women and a balance of cost with quality service.
Best companies for universal life insurance:
Universal life insurance is a flexible policy that allows policyholders to adjust their premiums and benefits over time. Cambridge residents who anticipate significant life changes, such as starting a business or a family, might choose it to help them adapt to their evolving financial needs.
Protective is the best universal life insurance provider in Cambridge. With a MoneyGeek score of 91, Protective demonstrates a balance of affordability and customer satisfaction
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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.
The best no-medical-exam life insurance in Cambridge is Protective, with a MoneyGeek score of 63.
Here are the top two companies:
Life insurance with no required medical exam allows individuals to obtain coverage quickly and with less effort than traditional policies. For example, someone with a busy schedule or a fear of medical procedures might choose it to avoid time-consuming doctor visits.
Protective is a dependable option for those seeking life insurance without the hassle of a medical exam in Cambridge, boasting a MoneyGeek score of 63.
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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.
In Cambridge, Protective is the best term life insurance for seniors. It scored 91 for men and 90 for women, with a monthly premium of $86 and $78, respectively.
Age is a determining factor in life insurance premiums; older individuals can expect higher rates due to increased risk.
| 1 | Protective | $86 | 91 |
| 2 | Mutual of Omaha | $101 | 90 |
| 3 | Nationwide | $90 | 89 |
| 4 | Allstate | $67 | 89 |
| 5 | Transamerica | $73 | 88 |
| 6 | AAA | $104 | 88 |
| 7 | Prudential | $79 | 87 |
| 8 | Haven | $169 | 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 stands as the best term life insurance for smokers in Cambridge. Men scored 60 and an average monthly premium of $60, while women scored 57 with a $57 premium.
Smoking influences life insurance premiums significantly due to the associated health risks, typically leading to higher costs for smokers. Mutual of Omaha is a compelling choice for those prioritizing quality and cost-effectiveness.
| 1 | Mutual of Omaha | $60 | 90 |
| 2 | Nationwide | $61 | 89 |
| 3 | Allstate | $44 | 89 |
| 4 | Protective | $80 | 88 |
| 5 | Transamerica | $45 | 88 |
| 6 | AAA | $64 | 88 |
| 7 | Prudential | $52 | 87 |
| 8 | Haven | $101 | 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.
In Cambridge, the best term life insurance for young adults is offered by Protective. It garnered a MoneyGeek score of 92 and offers average monthly premiums of $10 for men and $9 for women.
Age is crucial in determining life insurance premiums, with younger adults typically benefiting from lower rates.
| 1 | Protective | $11 | 92 |
| 2 | Mutual of Omaha | $14 | 91 |
| 3 | Nationwide | $14 | 90 |
| 4 | AAA | $14 | 89 |
| 5 | Allstate | $10 | 89 |
| 6 | Transamerica | $10 | 88 |
| 7 | Prudential | $15 | 86 |
| 8 | Haven | $17 | 86 |
| 9 | Bestow | $41 | 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 Cambridge is Protective, with a MoneyGeek score of 91 and average monthly premiums of $16 for women and $18 for men.
Factors influencing life insurance premiums include age, health, coverage amount and term length. To secure low premiums, maintain good health, choose a suitable coverage amount and select a term length that meets your needs.
| 1 | Protective | $18 | 91 |
| 2 | Allstate | $16 | 91 |
| 3 | Transamerica | $17 | 90 |
| 4 | Nationwide | $23 | 88 |
| 5 | Mutual of Omaha | $23 | 87 |
| 6 | AAA | $23 | 87 |
| 7 | Prudential | $23 | 85 |
| 8 | Haven | $30 | 81 |
The average monthly premium for term life insurance in Cambridge, Massachusetts, is $29 for women and $33 for men. Knowing these rates can help consumers make informed decisions when purchasing life insurance.
Several factors affect life insurance premiums, including age, health, lifestyle and occupation.
The cost of life insurance in Cambridge might be higher or lower than in other parts of Massachusetts for various reasons. Local economic conditions, health statistics and lifestyle trends can all influence insurance premiums. For instance, premiums might be higher if Cambridge has higher health care costs or a higher incidence of certain health conditions. Conversely, lower living costs or healthier lifestyle trends could result in lower premiums.
Protective offers the best life insurance for men in Cambridge based on a MoneyGeek score of 91.
The average monthly premium for the best life insurance for men in Cambridge is $43, as offered by Protective.
Protective offers the best life insurance for women in Cambridge, with a MoneyGeek score of 91.
The average monthly premium for the best life insurance for women in Cambridge is $36, offered by Protective.
Life insurance in Cambridge may differ from the rest of Massachusetts in terms of cost and company performance. For instance, Protective offers competitive rates and high satisfaction scores in Cambridge, which may not be the case in other cities. Additionally, local factors such as demographics and economic conditions can influence insurance offerings.
If a life insurance company goes bankrupt in Cambridge, your policy is generally protected by the state's guaranty association. They ensure that policyholders receive coverage up to certain limits, providing a safety net in the event of company insolvency.
Cambridge residents might need life insurance for several reasons, such as providing financial security for their families, covering outstanding debts or ensuring funds for future expenses like education. Life insurance can also help cover funeral costs and provide peace of mind for policyholders and their loved ones.
To find a lost life insurance policy in Cambridge, start by checking personal records and contacting the deceased's financial advisors. You can also reach out to state insurance departments and use online search tools designed to locate unclaimed policies. These steps can help you track down missing documentation.
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.
