Updated: November 21, 2024
Advertising & Editorial Disclosure
Protective is the best life insurance provider for women in Lafayette, Louisiana, with a MoneyGeek score of 92 and an average monthly premium of $30. For men, Mutual of Omaha leads with a MoneyGeek score of 91 and a monthly premium of about $50. These scores and premium costs are based on a 20-year term policy with $500,000 coverage.
Different factors influence life insurance decisions. 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 Lafayette, Louisiana.
Coverage costs and company information for life insurance providers were updated in October 2024.
BestLife InsuranceLafayette, LABest Life Insurance Companies in Lafayette
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 is the best life insurance provider in Lafayette for men, with a MoneyGeek score of 91 out of 100 at about $50 per month. For women, Protective tops the list, with a MoneyGeek score of 92 out of 100 at an average of $30 per month.
Top providers for men:
Top providers for women:
The winning companies offer competitive rates, making them excellent choices for anyone looking to purchase life insurance in Lafayette. Their high MoneyGeek scores reflect good affordability, customer satisfaction, and financial stability, providing peace of mind for policyholders.
Mutual of Omaha is the best life insurance provider in Lafayette, with a MoneyGeek score of 91 out of 100. It offers an average monthly premium of $50. Mutual of Omaha is known for its reliable service, strong customer satisfaction and financial stability.
Pros:
Cons:
Protective is the best life insurance provider for women in Lafayette, with a MoneyGeek score of 92, and an average monthly premium of $30. Protective offers strong customer satisfaction and financial stability, ensuring reliable service and peace of mind for its clients.
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.
Protective offers the best term life insurance for both men and women in Lafayette, with a MoneyGeek score of 91 and 92, respectively. It offers an average monthly premium of $25 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 offers coverage for a specified period, providing a death benefit if the insured passes away during the term. It is often chosen over permanent life insurance for its affordability and simplicity. For instance, a parent might opt for term life insurance to ensure their child's educational expenses are covered until graduation.
Protective provides the best term life insurance for men and women in Lafayette, with a MoneyGeek score of 91 and 92, respectively. Premiums cost at roughly $25 per month for men and $16 for women. With top-notch customer service and robust financial health, Protective stands out in the life insurance market.
Pros:
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 offers the best whole life insurance in Lafayette, with a MoneyGeek score of 92 for both men and women. This top score reflects Protective's commitment to customer satisfaction, affordability and financial stability, making it a reliable choice for individuals looking to secure their financial future with a whole life insurance policy.
Whole life insurance provides 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 can be borrowed against in the future.
Protective offers the best whole life insurance in Lafayette for both men and women, with a MoneyGeek score of 92 for each. Protective stands out due to its strong commitment to customer satisfaction and financial stability.
Pros:
Cons:
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 for both men and women, with a MoneyGeek score of 91. This score reflects a balance of affordability, customer satisfaction, buying process, financial stability and product diversity, making Protective a solid choice for individuals seeking reliable coverage.
Universal life insurance offers a flexible premium and death benefit, along with the potential to build cash value over time. For instance, someone who wants the ability to adjust their premiums and coverage as their financial situation changes might opt for universal life insurance over more rigid policies.
Protective is the top choice for men and women seeking universal life insurance in Lafayette, with a MoneyGeek score of 91 for each. The company's commitment to customer satisfaction and financial stability sets it apart in the market. With Protective, customers in Lafayette can expect a reliable insurance experience tailored to their needs.
Pros:
Cons:
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 Lafayette, Protective offers the best life insurance without the hassle of a mandatory medical exam for both men and women, with a MoneyGeek score of 91.
Life insurance without a medical exam allows individuals to obtain coverage quickly and without the need for a medical checkup. 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 no-medical-exam insurance to avoid the possibility of being denied coverage or facing higher premiums.
In Lafayette, Protective stands out as the leading provider of no-medical-exam life insurance for both men and women, boasting a MoneyGeek score of 91 for each. This score reflects the company's commitment to customer satisfaction and affordability.
Pros:
Cons:
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 men seeking the best term life insurance for seniors in Lafayette, Mutual of Omaha leads with a MoneyGeek score of 91 and an average monthly premium of $100. Women find Protective at the top with a MoneyGeek score of 92 and a $68 monthly premium.
Age impacts life insurance premiums, as insurers weigh the increased health risks that come with age. Mutual of Omaha and Protective stand out due to their strong performance across affordability for seniors, customer satisfaction, buying process, financial stability and product diversity
| 1 | Mutual of Omaha | $100 | 91 |
| 2 | Nationwide | $81 | 91 |
| 3 | Protective | $107 | 90 |
| 4 | Prudential | $99 | 86 |
| 5 | Transamerica | $112 | 86 |
| 6 | AAA | $166 | 86 |
| 7 | Allstate | $131 | 86 |
| 8 | State Farm | $168 | 85 |
| 9 | Haven | $181 | 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 men seeking the best term life insurance for smokers in Lafayette, Mutual of Omaha leads with a MoneyGeek score of 90 and an average monthly premium of $56. Women find Allstate at the top, scoring 89 with about $29 premium.
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 and Allstate's top scores reflect their commitment to providing valuable coverage at competitive prices, making them strong contenders for reliable term life insurance.
| 1 | Mutual of Omaha | $56 | 90 |
| 2 | Nationwide | $53 | 90 |
| 3 | Allstate | $48 | 88 |
| 4 | Transamerica | $50 | 88 |
| 5 | Prudential | $45 | 88 |
| 6 | Protective | $80 | 87 |
| 7 | State Farm | $70 | 86 |
| 8 | AAA | $88 | 86 |
| 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 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 Lafayette, Protective stands out with a MoneyGeek score of 91 for men and 92 for women, offering monthly premiums of $16 and $10, respectively. Protective earned the highest MoneyGeek score due to its balanced affordability, customer satisfaction and financial stability.
Age significantly impacts the cost of life insurance premiums. Younger individuals typically pay lower premiums because they are considered lower risk.
| 1 | Protective | $16 | 91 |
| 2 | Mutual of Omaha | $16 | 91 |
| 3 | Nationwide | $15 | 91 |
| 4 | Transamerica | $17 | 87 |
| 5 | AAA | $25 | 86 |
| 6 | Prudential | $20 | 86 |
| 7 | Allstate | $24 | 85 |
| 8 | Haven | $20 | 85 |
| 9 | State Farm | $29 | 85 |
| 10 | Bestow | $32 | 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 men in Lafayette, Nationwide offers the best cheap term life insurance with a MoneyGeek score of 93 and a monthly premium of $17. For women, Protective leads with a MoneyGeek score of 92 and a monthly premium of $16. Both of them rank highly due to their affordability, customer satisfaction and financial stability.
Age, health and coverage all influence the cost of life insurance. To get the lowest premiums, you should strive to maintain good health, avoid tobacco use and compare quotes from different insurers.
| 1 | Nationwide | $22 | 93 |
| 2 | Mutual of Omaha | $25 | 91 |
| 3 | Protective | $25 | 91 |
| 4 | Transamerica | $27 | 88 |
| 5 | Prudential | $30 | 87 |
| 6 | AAA | $40 | 85 |
| 7 | Allstate | $37 | 84 |
| 8 | Haven | $34 | 84 |
| 9 | State Farm | $45 | 82 |
The average monthly cost of term life insurance in Lafayette is $29 for men and $24 for women.
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.
Life insurance costs in Lafayette may differ from the rest of Louisiana due to various local factors. Health trends, economic conditions and specific risk factors unique to the area can impact premium costs. Additionally, competition among insurers in Lafayette can affect pricing, leading to variations compared to other regions in the state.
Mutual of Omaha offers the best life insurance for men in Lafayette, with a MoneyGeek score of 91 out of 100.
The monthly premium cost for the best life insurance for men in Lafayette, provided by Mutual of Omaha, is $50.
Protective offers the best life insurance for women in Lafayette, with a MoneyGeek score of 92 out of 100.
Protective provides the best life insurance for women in Lafayette at a monthly premium of $30.
Life insurance in Lafayette may offer different premium rates and coverage options compared to other areas in Louisiana. For example, Mutual of Omaha and Protective have distinct offerings in Lafayette that may not be available statewide. These differences can impact the affordability and suitability of policies for residents.
If a life insurance company goes bankrupt in Lafayette, policyholders are typically protected by state guaranty associations. These associations ensure that claims are paid up to certain limits, providing a safety net for policyholders in such events.
Lafayette residents might need life insurance to provide financial security for their families in the event of their death. Life insurance can cover expenses such as funeral costs, outstanding debts, and future living expenses, ensuring that loved ones are financially supported.
To find a lost life insurance policy in Lafayette, residents can start by checking with the deceased's employer, financial advisor, or lawyer. They can also contact the Louisiana Department of Insurance for assistance in locating 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.
