Updated: November 22, 2024
Advertising & Editorial Disclosure
Based on its MoneyGeek score of 92, Protective is the best life insurance provider in Columbia, Maryland. Its average monthly premium for women is $17, while it's $23 for men.
Different factors influence life insurance decisions, and these scores and premium costs are based on a 20-year term policy with $500,000 coverage. 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 Columbia, Maryland.
Coverage costs and company information for life insurance providers were updated in October 2024.
BestLife InsuranceColumbia, MDBest Life Insurance Companies in Columbia
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.
In Columbia, Maryland, Protective offers the best life insurance for both men and women. It received a MoneyGeek score of 92 out of 100 and average monthly premiums of $23 for men and $17 for women.
Top providers for men:
Top providers for women:
Protective performed well in terms of affordability, customer satisfaction and financial stability.
In Columbia, Protective is the best choice for life insurance for men and women, boasting an impressive MoneyGeek score of 92. The company offers average monthly premiums of $17 for women and $23 for men. Consumers can feel confident in Protective's ability to deliver quality service and financial security.
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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 provides the best term life insurance in Columbia. its MoneyGeek score is 92 with average monthly premiums of $11 for men and $9 for women. The best term life insurance offers a balance of cost and quality, which Protective exemplifies.
The top two term life insurance companies for men are:
For women, the top two are:
Term life insurance is a policy that covers a specified term and offers a death benefit if the insured passes away during the term. It's often chosen for its simplicity and lower cost than permanent life insurance. For example, a parent might opt for term life insurance to fund their child's education should anything happen to them.
Protective is the premier choice for term life insurance for men and women in Columbia, scoring an impressive 92 on the MoneyGeek scale. With average monthly premiums of $11 for men and $9 for women, it offers value and reliability that is hard to match.
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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 provides the best whole life insurance in Columbia, scoring a MoneyGeek score of 92 out of 100 for both men and women. This high score indicates a strong combination of affordability, customer satisfaction and financial stability.
Top companies for whole life insurance in Columbia:
Whole life insurance offers lifelong coverage and includes an investment component that can grow over time. Someone might choose whole life insurance to ensure their family's financial stability while also building cash value that they can borrow against in the future.
Protective is the premier choice for the best whole life insurance in Columbia for both men and women, with a MoneyGeek score of 92. This score reflects the company's commitment to service and product offerings excellence.
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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 is the best universal life insurance provider in Columbia, with a MoneyGeek score of 91. Protective offers affordability, customer satisfaction and financial stability.
Best companies for universal life insurance:
Universal life insurance offers flexible premiums, a death benefit and the potential to build cash value over time. For instance, someone who wants to adjust their premiums and coverage as their financial situation changes might opt for universal life insurance over more rigid policies, providing security and flexibility.
Protective offers the best universal life insurance in Columbia, catering to both men and women. With a MoneyGeek score of 91, it ensures a balanced offering that resonates with individuals seeking financial security and peace of mind.
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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.
Protective is the premier provider of the best no-medical-exam life insurance in Columbia, with a MoneyGeek score of 91. The average individual would benefit from Protective's comprehensive offerings and strong industry reputation.
Best providers of life insurance that do not require a medical exam:
Life insurance without a required medical exam allows individuals to obtain coverage quickly. This can be particularly beneficial for those who need immediate coverage or have health issues that could complicate a traditional application process. For instance, someone with a chronic condition might opt for no-medical-exam insurance to avoid being denied or facing higher premiums.
In Columbia, Protective is the premier provider of no-medical-exam life insurance. With a MoneyGeek score of 91, Protective is a reliable choice for those seeking coverage without the hassle of a medical exam.
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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.
Protective offers the best term life insurance for seniors in Columbia. It scored 92 for men with an average monthly premium of $51 and 92 for women with an average monthly premium of $41.
Age is a factor in life insurance premiums; as individuals age, the risk to insurers increases, often leading to higher costs. Protective's MoneyGeek score reflects its strong performance across affordability, customer satisfaction, buying process and financial stability.
| 1 | Protective | $51 | 92 |
| 2 | Mutual of Omaha | $50 | 92 |
| 3 | Nationwide | $57 | 90 |
| 4 | AAA | $64 | 88 |
| 5 | Transamerica | $55 | 88 |
| 6 | Allstate | $65 | 87 |
| 7 | Prudential | $57 | 87 |
| 8 | State Farm | $103 | 84 |
| 9 | Haven | $92 | 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.
In Columbia, Mutual of Omaha provides the best term life insurance for smokers. It received a MoneyGeek score of 92 for men and 90 for women, with average monthly premiums of $49 and $41, respectively.
Smoking significantly affects life insurance premiums due to the health risks it poses, often leading to higher rates for smokers than nonsmokers. Mutual of Omaha provides valuable coverage at competitive prices. This information is crucial for smokers who need a reliable policy that can accommodate their circumstances without compromising quality or cost.
| 1 | Mutual of Omaha | $49 | 92 |
| 2 | Allstate | $48 | 89 |
| 3 | AAA | $58 | 88 |
| 4 | Transamerica | $49 | 88 |
| 5 | Nationwide | $66 | 88 |
| 6 | Prudential | $50 | 87 |
| 7 | Protective | $78 | 87 |
| 8 | State Farm | $75 | 85 |
| 9 | Haven | $86 | 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.
For those seeking the best term life insurance for young adults in Columbia, Protective stands out, with a MoneyGeek score of 92 and average monthly premiums of $5 for women and $7 for men.
Age is crucial in determining life insurance premiums, with younger adults typically benefiting from lower rates. Choosing a reliable term life insurance is essential for securing financial protection at a reasonable cost.
| 1 | Protective | $7 | 92 |
| 2 | Mutual of Omaha | $7 | 92 |
| 3 | Nationwide | $9 | 90 |
| 4 | AAA | $9 | 89 |
| 5 | Transamerica | $8 | 88 |
| 6 | Allstate | $11 | 88 |
| 7 | State Farm | $16 | 87 |
| 8 | Prudential | $11 | 86 |
| 9 | Haven | $9 | 86 |
| 10 | Bestow | $33 | 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 Columbia for men is Nationwide with a MoneyGeek score of 93 and an average monthly premium of $17. For women, Protective is the top choice, with a MoneyGeek score of 92 and an average monthly premium of $16. Nationwide scores high due to its easy buying process and affordability, while Protective excels in customer satisfaction and financial stability.
Factors such as age, health, coverage amount and term length affect life insurance costs. To get the lowest premiums, maintain good health, choose a shorter term and opt for a lower coverage amount.
| 1 | Protective | $11 | 92 |
| 2 | Mutual of Omaha | $11 | 92 |
| 3 | Nationwide | $14 | 90 |
| 4 | Transamerica | $13 | 89 |
| 5 | AAA | $15 | 89 |
| 6 | Allstate | $18 | 86 |
| 7 | Prudential | $17 | 86 |
| 8 | Haven | $17 | 85 |
| 9 | State Farm | $26 | 82 |
The average monthly cost of term life insurance in Columbia is $19 for women and $24 for men.
Many factors affect life insurance premiums, including age, health, lifestyle and the amount of coverage you choose. Insurers assess these factors to determine the risk for them by insuring you.
Local health statistics, economic factors and regional risk factors may contribute to the differences in life insurance costs in Columbia compared to the rest of Maryland. Always consider your circumstances and the specific conditions of your area when evaluating your options.
Protective has the best life insurance for men in Columbia. Its MoneyGeek score is 92, making it a top choice for male residents.
The average monthly premium for the best life insurance for men in Columbia is $23. Protective offers this rate.
Protective has the best life insurance for women in Columbia. Its MoneyGeek score is 92, making it a top choice for female residents.
The average monthly premium for the best life insurance for women in Columbia is $17. Protective offers this rate.
Life insurance in Columbia may offer more competitive rates and higher customer satisfaction than in other parts of Maryland. For example, Protective has a high MoneyGeek score and affordable premiums, which may not be available in other cities within the state.
If a life insurance company goes bankrupt in Columbia, state guaranty associations typically protect policyholders. These associations ensure that claims are paid up to certain limits, providing a safety net for residents holding policies with the bankrupt company.
Columbia residents may need life insurance to provide financial security for their families, cover debts and ensure long-term stability. In the event of the policyholder's death, life insurance can help pay for mortgages, education expenses and daily living costs.
To find a lost life insurance policy in Columbia, residents can check personal records, contact previous employers or use online databases. Additionally, contacting the state insurance department can help locate unclaimed policies.
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.
