Best Life Insurance Companies in New Mexico (2025)

State Farm offers the best life insurance in New Mexico, earning a MoneyGeek score of 99 out of 100 for customer service, affordability, and coverage options. For other affordable options, we recommend GEICO, Haven, Nationwide and Mutual of Omaha.

*Rates presented are for coverage levels between $250-$500K for a 20 year term life insurance plan for a 40-year-old man in good health who does not smoke.

While the top life insurance provider is a solid choice for many, your best option might differ based on your needs. Below, we break down the leading providers for various common profiles.

To help you find the best life insurance fit, we've included a filterable table below that tailors our recommendations to your profile.

Rates in this table differ from the main comparison due to the broader age range (41 to 50 vs. 40) and flexible term selection rather than a fixed 20-year term.

Here's a breakdown of how to find the best life insurance in New Mexico.

In New Mexico, MoneyGeek's top three life insurance picks are State Farm, GEICO and Haven. Assess your coverage needs, research companies and compare quotes to find the most affordable and suitable policy for you.

Explore expert answers to common life insurance questions for New Mexico residents.

MoneyGeek created a scoring system to compare life insurance companies across five categories and ranked them based on their scores. We selected companies to review based on their broad national coverage and ability to provide an online quote.

MoneyGeek's Scoring System

Companies can earn up to five points in each of five categories. These category scores calculate an overall MoneyGeek score out of 100. We applied the following base weightings to score insurers:

• Affordability: 60%
• Financial Stability: 5%
• Buying Process: 5%
• Customer Satisfaction: 20%
• Product Diversity: 10%

Each company's score incorporates:

• Cost data obtained through online quotes
• Financial strength ratings from AM Best and the number of years in business
• Customer satisfaction data from the National Association of Insurance Commissioners (NAIC) customer complaint index (we reviewed annual complaint data from 2020 to 2022, the most recent year available)
• Availability of tools for the buying process, such as online product materials and multiple payment options
• Diversity of life insurance products offered

Sample Customer Profile

MoneyGeek used a standard profile to obtain life insurance quotes in New Mexico:

• 40-year-old nonsmoker
• Average height and healthy weight
• Excellent health rating

We modified the profile by age, gender, height, weight, tobacco use, health rating and geographic location to collect a variety of quotes and determine the best life insurance company for several types of customers. We collected quotes for term life insurance with varying term lengths and coverage amounts, as well.

When necessary, we identified trends in the dataset and used those patterns to calculate projections and extend the data beyond what was originally collected.