Best Life Insurance in Colorado Springs, CO (October 2024)
Updated: October 23, 2024
Advertising & Editorial Disclosure
The best life insurance provider in Colorado Springs, Colorado, for both men and women is Protective. It has a MoneyGeek score of 92 for both categories and a monthly premium of $24 for women and $28 for men. These scores and premium costs are based on a 20-year term policy with $500,000 coverage.
Different factors should be considered when deciding on the type of life insurance to buy. 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 Colorado Springs, Colorado.
Coverage costs and company information for life insurance providers were updated in October 2024.
BestLife InsuranceCO SpringsBest Life Insurance Companies in Colorado Springs
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.
The best life insurance provider in Colorado Springs for both men and women is Protective, with a MoneyGeek score of 92 out of 100 and an average monthly premium of $28 for men and $24 for women.
Top providers for men:
Top providers for women:
Protective offers strong affordability and customer satisfaction ratings, making it a reliable choice for individuals seeking comprehensive life insurance coverage in Colorado Springs.
For both men and women seeking life insurance in Colorado Springs, Protective stands out with a MoneyGeek score of 92. The company offers an average monthly premium of $28 for men and $24 for women, providing a balanced offering for customers prioritizing both cost and quality in their life insurance selection.
Pros:
Cons:
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.
The Protective company stands out as the provider of the best term life insurance in Colorado Springs for both men and women, with a MoneyGeek score of 92 and an average monthly premium of $13. This company offers the highest-rated term life insurance policies, ensuring that the average individual looking for reliable coverage can secure their financial future with confidence and ease.
The top two term life insurance companies for men are:
For women, the top two are:
Term life insurance provides coverage for a specific period. For instance, a parent might choose term insurance to ensure their child's education is funded should anything happen to them during their school years.
In Colorado Springs, Protective stands out as the top choice for term life insurance for men, gaining a MoneyGeek score of 92. With a monthly premium of $13 for both men and women, it offers a balance of cost and quality coverage.
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Cons:
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 ranks as the top provider of the best whole life insurance in Colorado Springs, with a MoneyGeek score of 92 for both men and women. This score reflects a strong balance of affordability, customer satisfaction and financial stability, making Protective an excellent choice for individuals looking for reliable life insurance coverage.
Top whole life companies for men in Colorado Springs:
Top whole life companies for women in Colorado Springs:
Whole life insurance is a type of permanent life insurance that offers a guaranteed death benefit, fixed premiums and a cash value component. One might choose whole life insurance for the peace of mind that comes with lifelong coverage and the potential to accumulate cash value over time.
Protective is the top choice for whole life insurance in Colorado Springs for both men and women, with an overall MoneyGeek score of 92 for each. This score reflects the balance of affordability and customer satisfaction that Protective offers to its policyholders.
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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 stands out as the leading provider of the best universal life insurance in Colorado Springs for both men and women, with a MoneyGeek score of 91. This top ranking reflects the company's commitment to affordability, customer satisfaction and financial stability, making it a solid choice for the average customer seeking life insurance coverage that offers both flexibility and long-term growth potential.
Best universal life insurance for men:
Best universal life insurance for women:
Universal life insurance is a form of permanent life insurance that includes an investment savings element along with a flexible premium structure. For example, someone might choose universal life insurance over term life insurance for the potential to accumulate cash value that can be used later in life, perhaps to supplement retirement income.
Protective stands out as the premier choice for universal life insurance in Colorado Springs, serving both men and women with equal excellence. With a MoneyGeek score of 91 for both genders, Protective demonstrates a strong commitment to customer satisfaction and affordability in the insurance landscape.
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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 life insurance with no mandatory medical exam in Colorado Springs for both men and women is offered by Protective, with a MoneyGeek score of 91. A customer looking to purchase this type of insurance would benefit from Protective's high scores in affordability, customer satisfaction, buying process, financial stability and product diversity.
Best no-medical-exam life insurance for men:
Best no-medical-exam life insurance for women:
Getting life insurance without undergoing a medical examination can be ideal for individuals who want quick coverage or have health issues that could result in higher premiums or denial of coverage with traditional policies. For instance, a person with a chronic condition may choose no medical exam insurance to ensure they can secure a policy promptly.
Protective ranks as the premier choice for no-medical-exam life insurance in Colorado Springs. Men and women alike can rely on Protective, which has a MoneyGeek score of 91 for both genders, indicating a strong performance in key areas evaluated by MoneyGeek. This company ensures that securing life insurance without a medical exam is a straightforward process for Colorado Springs residents seeking peace of mind.
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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 Colorado Springs, Protective stands out as the top provider of the best term life insurance for seniors, with a MoneyGeek score of 92 for men and 91 for women. The average monthly premium for men is $61, while for women, it's $57.
Age influences life insurance premiums, with costs typically increasing as individuals enter their senior years. Protective's superior MoneyGeek score reflects a strong combination of affordability, customer satisfaction and financial stability. For seniors in Colorado Springs, this means accessing a term life insurance policy that balances cost with quality service and security.
| 1 | Protective | $61 | 92 |
| 2 | Mutual of Omaha | $68 | 91 |
| 3 | Nationwide | $61 | 90 |
| 4 | AAA | $79 | 88 |
| 5 | Allstate | $68 | 88 |
| 6 | Prudential | $60 | 88 |
| 7 | Transamerica | $75 | 87 |
| 8 | State Farm | $107 | 85 |
| 9 | Haven | $118 | 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 customers in search of the best term life insurance for smokers in Colorado Springs, Mutual of Omaha stands out for both men and women. Its policies for men received a MoneyGeek score of 90 with an average monthly premium of $67, while policies for women gained a score of 88 and the same average monthly premium.
Smoking is a factor insurers consider when determining premiums due to the associated health risks, which often lead to higher costs for smokers compared to non-smokers. Mutual of Omaha's high MoneyGeek score reflects a balance of affordability, customer satisfaction and financial stability. These elements are critical for individuals who require dependable coverage that acknowledges the unique risks of smoking.
| 1 | Mutual of Omaha | $67 | 90 |
| 2 | Nationwide | $70 | 89 |
| 3 | AAA | $73 | 88 |
| 4 | Protective | $92 | 88 |
| 5 | Prudential | $53 | 88 |
| 6 | Transamerica | $66 | 87 |
| 7 | State Farm | $88 | 85 |
| 8 | Allstate | $110 | 84 |
| 9 | Haven | $109 | 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.
If you're looking for the best term life insurance for young adults in Colorado Springs, Protective stands out with a MoneyGeek score of 92 and an average monthly premium of $8 for both men and women.
Age significantly impacts life insurance premiums, with younger individuals typically enjoying lower costs. Protective's high MoneyGeek score reflects its strong performance in affordability, customer satisfaction and financial stability.
| 1 | Protective | $8 | 92 |
| 2 | Mutual of Omaha | $10 | 91 |
| 3 | Nationwide | $10 | 89 |
| 4 | AAA | $11 | 88 |
| 5 | Allstate | $10 | 87 |
| 6 | Transamerica | $11 | 86 |
| 7 | Prudential | $12 | 85 |
| 8 | Haven | $12 | 84 |
| 9 | State Farm | $17 | 84 |
| 10 | Bestow | $17 | 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.
If you're looking for the best cheap term life insurance in Colorado Springs, Protective stands out for both men and women. With a MoneyGeek score of 92 and an average monthly premium of $13, Protective offers excellent value.
Protective's high MoneyGeek score is due to its strong affordability, customer satisfaction and financial stability. This makes it a reliable choice for anyone seeking the best cheap term life insurance in Colorado Springs.
Several factors influence the cost of life insurance premiums including age, health, coverage amount and term length. To get the lowest premiums, maintain good health, choose a shorter term and opt for a lower coverage amount.
| 1 | Protective | $13 | 92 |
| 2 | Nationwide | $16 | 91 |
| 3 | Mutual of Omaha | $16 | 90 |
| 4 | Allstate | $16 | 89 |
| 5 | AAA | $19 | 88 |
| 6 | Transamerica | $18 | 88 |
| 7 | Prudential | $18 | 87 |
| 8 | Haven | $22 | 83 |
| 9 | State Farm | $27 | 82 |
The average monthly premium for term life insurance in Colorado Springs is $22 for women and $27 for men. Several factors affect the cost of life insurance premiums. These include age, health, lifestyle, policy type and coverage amount. Each of these elements can significantly influence the monthly premium you pay.
The cost of life insurance in Colorado Springs might differ from the rest of Colorado due to various reasons. Local health statistics, the cost of living and regional risk factors can play a role. For example, if Colorado Springs has higher health care costs or a higher incidence of certain health conditions, premiums might be higher. Conversely, if the area has a lower cost of living or fewer regional risks, premiums could be lower.
Understanding these factors can help you make more informed decisions when purchasing life insurance. Consider your personal circumstances and the specific conditions in your area to find the best policy for you.
Protective offers the best life insurance in Colorado Springs for men, with the highest MoneyGeek score of 92. This company provides excellent coverage and customer satisfaction.
The best life insurance for men in Colorado Springs comes from Protective, with an average monthly premium of $28.
Protective provides the best life insurance in Colorado Springs for women, with a MoneyGeek score of 92. This company excels in coverage and customer satisfaction.
The monthly premium cost for the best life insurance for women in Colorado Springs is $24 with Protective. This cost reflects the company's highest MoneyGeek score of 92.
Life insurance in Colorado Springs is similar to the rest of Colorado in terms of coverage and premium costs. However, local factors such as the cost of living and specific health risks can influence rates. For example, residents in areas with higher healthcare costs might see slightly higher premiums.
If a life insurance company goes bankrupt in Colorado Springs, state guaranty associations typically step in to cover policyholders. These associations ensure that claims are paid and policies remain in force, protecting consumers from financial loss.
Colorado Springs residents might need life insurance to provide financial security for their dependents, cover debts, and ensure that their loved ones are not burdened with expenses. Life insurance can also help with estate planning and provide peace of mind.
To find a lost life insurance policy in Colorado Springs, contact the insurance company directly, check bank statements for premium payments, and use online search tools like the National Association of Insurance Commissioners' Life Insurance Policy Locator.
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.
