Updated: November 20, 2024
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Protective is the best life insurance company for men and women in Chicago, Illinois. With a MoneyGeek score of 92 for both genders, it offers an average monthly premium of $28 for women and $26 for men. The score 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 stability. 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 Chicago, Illinois.
Coverage costs and company information for life insurance providers were updated in October 2024.
BestLife InsuranceChicago, ILBest Life Insurance Companies in Chicago
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.
Protective is the top provider of life insurance in Chicago, with a MoneyGeek score of 92 for men and women. Its average monthly premium is $26 for men and $28 for women.
Top providers for men:
Top providers for women:
Protective stands out due to its high MoneyGeek score and affordable monthly premiums. This makes it an excellent choice for the average individual looking to purchase life insurance in Chicago.
Protective is the best life insurance provider in Chicago for men and women, with a MoneyGeek score of 92 for each. The company offers average monthly premiums of $28 for women and $26 for men, ensuring accessible financial protection. With high marks in customer satisfaction and affordability, Protective caters to those prioritizing a seamless experience and value for money.
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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 premier choice for men and women seeking the best term life insurance in Chicago, with a MoneyGeek score of 92 for both genders. Its average monthly premium is $13 for men and $15 for women. Protective balances affordability, customer satisfaction and financial stability, making it an ideal option for the average individual seeking reliable term life insurance coverage.
The top two term life insurance companies for men are:
For women, the top two are:
Term life insurance is a policy that provides coverage for a set period. For example, a parent might choose term life insurance to ensure their child's education is funded in the event of their untimely passing.
Protective offers the best term life insurance in Chicago, with a MoneyGeek score of 92 for men and women. Men pay an average monthly premium of $13, while women pay around $15. Protective's high scores in customer satisfaction and affordability make it a compelling option for value-conscious individuals.
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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 Chicago, with a MoneyGeek score of 92 for men and women. This score reflects the company's strong performance across affordability, customer satisfaction, buying process, financial stability and product diversity.
Top whole life companies for men in Chicago:
Top whole life companies for women in Chicago:
Whole life insurance is a permanent insurance policy that provides coverage for the insured's entire life. It can be an appealing choice for those who want the certainty of fixed premiums and a guaranteed death benefit. For example, someone might opt for whole life insurance to ensure their family's financial stability or to leave a legacy, regardless of how long they live.
In Chicago, Protective is the leading provider of whole life insurance for men and women. With a MoneyGeek score of 92 for each, the company ensures comprehensive coverage and satisfaction across the board.
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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.
For those seeking the best universal life insurance in Chicago, Protective stands out with a MoneyGeek score of 91 for men and women. This score reflects the company's commitment to customer satisfaction and financial stability.
Best universal life insurance for men:
Best for women's universal life insurance:
Universal life insurance offers flexibility in premiums and death benefits. For example, if someone wants the potential to build cash value over time while having life insurance coverage, universal life insurance could be a more suitable option than term life insurance.
In Chicago, Protective is the premier choice for universal life insurance for men and women, with a MoneyGeek score of 91 for each. Recognized for its excellence in customer satisfaction and financial stability, Protective offers a reliable option for those seeking quality life insurance coverage.
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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.
In Chicago, Protective offers the best life insurance without the hassle of a mandatory medical exam, with a MoneyGeek score of 91 for men and women.
Best no-medical-exam life insurance for men:
Best life insurance for women that does not require a medical exam:
Life insurance without a required medical exam allows individuals to obtain coverage quickly and without the need for a medical check-up. This can be particularly beneficial for those with health concerns or who require immediate coverage. For instance, someone with a chronic condition might opt for this insurance to avoid the possibility of being denied coverage or facing higher premiums.
In Chicago, Protective offers the best life insurance without a required medical exam, with a MoneyGeek score of 91 for men and women. This company's high score reflects its leading position in overall satisfaction and value.
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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.
For seniors seeking the best term life insurance for seniors in Chicago, Protective stands out with a MoneyGeek score of 92 for men and 91 for women. Its average monthly premiums are $56 and $66, respectively.
Age significantly influences life insurance premiums, with older individuals typically facing higher costs due to increased risk. Protective's high MoneyGeek score considers affordability, customer satisfaction, buying process, financial stability and product diversity. These aspects are crucial for seniors who prioritize cost and confidence in their life insurance provider.
| 1 | Protective | $56 | 92 |
| 2 | Mutual of Omaha | $63 | 91 |
| 3 | Nationwide | $57 | 90 |
| 4 | AAA | $73 | 88 |
| 5 | Prudential | $53 | 88 |
| 6 | Transamerica | $68 | 87 |
| 7 | Allstate | $81 | 86 |
| 8 | State Farm | $109 | 84 |
| 9 | Haven | $108 | 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.
For those seeking the best term life insurance for smokers in Chicago, Mutual of Omaha stands out with a MoneyGeek score of 90 for men and 88 for women. The company offers reliable coverage at an average monthly premium of $61 for men and $76 for women.
Smoking influences life insurance premiums significantly due to the health risks it poses. Insurers view smokers as higher risk, which is reflected in increased premium costs. Mutual of Omaha's high MoneyGeek score indicates a strong balance of affordability, customer satisfaction, buying process and financial stability. For individuals looking for dependable term life insurance options amidst the complexities of smoking-related risks, Mutual of Omaha is a worthwhile consideration.
| 1 | Mutual of Omaha | $61 | 90 |
| 2 | Nationwide | $64 | 89 |
| 3 | AAA | $66 | 88 |
| 4 | Protective | $84 | 88 |
| 5 | Prudential | $47 | 88 |
| 6 | Transamerica | $59 | 87 |
| 7 | State Farm | $79 | 85 |
| 8 | Allstate | $77 | 85 |
| 9 | Haven | $99 | 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.
**Protective ** offers the best term life insurance for young adults in Chicago, with a MoneyGeek score of 92 for men and women. Its average monthly premium is $8 and $9, respectively. Protective has the highest MoneyGeek score due to its strong affordability, customer satisfaction and financial stability.
Age significantly impacts the cost of life insurance premiums. Younger individuals typically pay lower premiums because they are generally healthier and pose less risk to insurers. For young adults in Chicago, choosing Protective ensures a balance of cost and quality coverage.
| 1 | Protective | $8 | 92 |
| 2 | Mutual of Omaha | $9 | 91 |
| 3 | Nationwide | $10 | 89 |
| 4 | AAA | $11 | 88 |
| 5 | Transamerica | $10 | 87 |
| 6 | Prudential | $11 | 86 |
| 7 | Haven | $11 | 85 |
| 8 | Allstate | $15 | 84 |
| 9 | State Farm | $18 | 84 |
| 10 | Bestow | $16 | 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.
For the best cheap term life insurance in Chicago, Protective stands out with a MoneyGeek score of 92 for men and women. Its average monthly premium is $13 and $15, respectively. Protective's high MoneyGeek score is due to its affordability, customer satisfaction and financial stability.
Factors that affect life insurance premiums include age, health, coverage amount and term length. To get the lowest premiums possible, maintain excellent health, choose a shorter term length and opt for a lower coverage amount.
| 1 | Protective | $13 | 92 |
| 2 | Nationwide | $15 | 91 |
| 3 | Mutual of Omaha | $15 | 90 |
| 4 | AAA | $17 | 89 |
| 5 | Transamerica | $16 | 88 |
| 6 | Prudential | $16 | 88 |
| 7 | Haven | $20 | 84 |
| 8 | Allstate | $22 | 84 |
| 9 | State Farm | $28 | 82 |
The average monthly premium for term life insurance in Chicago is $27 for women and $26 for men. Many factors can affect the cost of life insurance premiums, including age, health, lifestyle, occupation and the amount of coverage you choose.
Life insurance costs in Chicago might differ from those in the rest of Illinois for several reasons. Chicago's higher cost of living can drive up premiums. Additionally, health care costs in the city might be higher, influencing life insurance rates. Different risk factors, such as crime rates and population density, can also play a role.
Understanding these factors can help you make informed decisions about your life insurance needs. By considering your personal circumstances and the regional differences, you can find the best coverage for your situation.
Protective offers the best life insurance for men in Chicago, with a MoneyGeek score of 92 out of 100. The company stands out for its affordability and customer satisfaction.
The average monthly premium for the best life insurance for men in Chicago is $26. This rate is based on Protective's MoneyGeek score of 92 and is a cost-effective option for men looking for life insurance.
Protective provides the best life insurance for women in Chicago. With a MoneyGeek score of 92 out of 100, Protective excels in affordability and customer satisfaction.
The average monthly premium for the best life insurance for women in Chicago is $28. This cost aligns with Protective's highest MoneyGeek score of 92, offering a competitive and affordable option for women.
Life insurance in Chicago may differ from the rest of Illinois in terms of premium costs and coverage options. For instance, Chicago residents might find more competitive rates due to the higher population density and market competition. Local regulations and market dynamics can also influence the availability and variety of life insurance products.
If a life insurance company goes bankrupt in Chicago, policyholders are generally protected by state guaranty associations. These associations step in to cover claims and ensure that policyholders do not lose their coverage. It's essential to check the specific limits and protections offered by the Illinois Life and Health Insurance Guaranty Association.
Chicago residents might need life insurance for various reasons, including providing financial security for their families, covering debts and mortgages, and ensuring future educational expenses for children. Life insurance can also help with estate planning and provide a financial cushion in case of unexpected events.
To find a lost life insurance policy in Chicago, start by checking personal records and contacting the deceased's financial advisors or attorneys. You can also contact the Illinois Department of Insurance and use its policy locator service. Additionally, directly contacting the insurance company can help locate the policy.
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.
