Updated: November 21, 2024
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Protective is the best life insurance company in Lowell, Massachusetts, garnering a MoneyGeek score of 91 for both men and women. The average monthly premium is $37 for men and $29 for women.
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 Lowell, Massachusetts.
Coverage costs and company information for life insurance providers were updated in October 2024.
BestLife InsuranceLowell, MABest Life Insurance Companies in Lowell
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.
If you are looking for the best life insurance in Lowell, Protective is your top choice. It received MoneyGeek a score of 91 for men and women, with average monthly premiums of $30 and $22, respectively.
Top providers for men:
Top providers for women:
Protective is an excellent choice for those looking to purchase life insurance in Lowell.
Protective is the best life insurance in Lowell for men and women, with an overall MoneyGeek score of 91. It offers average monthly premiums of $22 for women and $30 for men, ensuring affordability without compromising quality coverage.
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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.
Residents of Lowell seeking the best term life insurance should get Protective. It received a MoneyGeek score of 91, with average monthly premiums of $12 for men and $10 for women.
The top two term life insurance companies for men are:
The top two term life insurance companies for women are:
Term life insurance has a fixed rate of payments maintained for a limited period known as the relevant term. After the term expires, coverage is no longer guaranteed, and the client must either forgo it or obtain further coverage with different payments or conditions. Parents might opt for term life insurance to ensure funding for their children's education even in the event of their untimely death.
Protective is the prime choice for term life insurance in Lowell for both men and women, with a MoneyGeek score of 91. The company offers low monthly premiums, making it accessible for those seeking financial security.
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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 top provider of the best whole life insurance in Lowell for both men and women, boasting a MoneyGeek score of 92.
Top whole life companies in Lowell:
Whole life insurance guarantees a death benefit and a savings component that accumulates cash value over time on a fixed premium. For example, someone might choose whole life insurance to ensure their family is financially secure while also building cash value they can borrow.
In Lowell, Protective is the best choice for whole life insurance for both men and women, with a MoneyGeek score of 92 for each. Its strong performance in key areas assures customers that they can rely on Protective for their insurance needs.
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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.
The best universal life insurance in Lowell is Protective, which got a MoneyGeek score of 91 for its reliable and comprehensive coverage.
Best universal life insurance providers:
Universal life insurance offers flexibility in premiums and death benefits, making it suitable for long-term financial planning. For instance, someone with universal life insurance can adjust their coverage as their financial situation changes.
Protective is the leading choice for universal life insurance in Lowell for men and women, getting a MoneyGeek score of 91. Protective's commitment to customer satisfaction and affordability shines through in its offerings.
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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 no-medical-exam life insurance in Lowell is Protective, leading with a MoneyGeek score of 63. It's the top choice for those who prioritize ease and reliability in their life insurance selection process.
Top two life insurance companies that don't require a medical exam:
Applying for life insurance without a mandatory medical exam can help you obtain coverage quickly. Someone with a busy schedule or a fear of medical procedures might opt for this type of insurance to avoid the traditional underwriting process.
Protective's leading score of 63 for both men and women suggests reliable coverage and service, making it an excellent option for Lowell residents looking for a straightforward life insurance solution.
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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 is the provider of the best term life insurance for seniors in Lowell, with a MoneyGeek score of 91 for men and 90 for women. Men may expect a monthly premium of $60, while women are quoted $48.
Age is a key factor in life insurance premiums; as people age, the risk to insurers increases, leading to higher costs.
| 1 | Protective | $60 | 91 |
| 2 | Mutual of Omaha | $70 | 90 |
| 3 | Nationwide | $62 | 89 |
| 4 | Allstate | $47 | 89 |
| 5 | Transamerica | $50 | 88 |
| 6 | AAA | $72 | 88 |
| 7 | Prudential | $54 | 87 |
| 8 | Haven | $117 | 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 Lowell residents seeking the best term life insurance for smokers, Mutual of Omaha leads with the highest MoneyGeek scores of 90 for men and 89 for women and average monthly premiums of $41 and $34, respectively.
Insurance for smokers is often priced higher due to the associated health risks, which insurers account for when determining premiums.
| 1 | Mutual of Omaha | $41 | 90 |
| 2 | Nationwide | $42 | 89 |
| 3 | Allstate | $30 | 89 |
| 4 | Protective | $55 | 88 |
| 5 | Transamerica | $31 | 88 |
| 6 | AAA | $44 | 88 |
| 7 | Prudential | $36 | 87 |
| 8 | Haven | $70 | 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 is the go-to provider of the best term life insurance for young adults in Lowell. With a MoneyGeek score of 92 and average monthly premiums of $6 for women and $7 for men, it offers excellent value.
Age plays a significant role in determining life insurance premiums. Younger individuals enjoy lower premiums because they are typically healthier and present a lower risk to insurers.
| 1 | Protective | $7 | 92 |
| 2 | Mutual of Omaha | $10 | 91 |
| 3 | Nationwide | $10 | 90 |
| 4 | AAA | $10 | 89 |
| 5 | Allstate | $7 | 89 |
| 6 | Transamerica | $7 | 88 |
| 7 | Prudential | $11 | 86 |
| 8 | Haven | $12 | 86 |
| 9 | Bestow | $28 | 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 Lowell is Protective, with a MoneyGeek score of 91 and average monthly premiums of $10 for women and $12 for men.
Various factors influence the cost of life insurance premiums, including age, health, coverage amount and term length. To secure the lowest premiums, maintain a healthy lifestyle, choose a reasonable coverage amount and opt for a shorter term length if possible.
| 1 | Protective | $12 | 91 |
| 2 | Allstate | $11 | 91 |
| 3 | Transamerica | $11 | 90 |
| 4 | Nationwide | $16 | 88 |
| 5 | Mutual of Omaha | $16 | 87 |
| 6 | AAA | $16 | 87 |
| 7 | Prudential | $16 | 85 |
| 8 | Haven | $21 | 81 |
The average monthly premium for term life insurance in Lowell is $18 for women and $23 for men.
Insurers assess age, health, lifestyle, occupation and other factors to determine someone's risk level, which influences the premium cost.
The cost of life insurance in Lowell might be higher or lower compared to the rest of Massachusetts for various reasons, including local health statistics, economic conditions and regional risk factors. For instance, if Lowell has higher health care costs or a higher prevalence of certain health conditions, this could increase insurance premiums. Conversely, a lower cost of living or better overall health metrics could lead to lower premiums.
Understanding these factors can help consumers make informed decisions about their life insurance needs.
Protective has the best life insurance in Lowell for men, with a MoneyGeek score of 91.
The average monthly premium of the best life insurance for men in Lowell is $30, as offered by Protective.
Protective has the best life insurance in Lowell for women, with a MoneyGeek score of 91,
The average monthly premium for the best life insurance for women in Lowell is $22. Protective offers this rate.
Life insurance in Lowell is consistent with the rest of Massachusetts. Protective ranks highest in both areas, offering competitive rates and strong customer satisfaction. State regulations ensure policyholders are protected, providing peace of mind across the state.
If a life insurance company goes bankrupt in Lowell, state regulations protect policyholders. The Massachusetts Life and Health Insurance Guaranty Association steps in to ensure coverage continues. This safety net helps maintain financial security for policyholders.
Lowell residents might need life insurance to provide financial security for their families. It can cover expenses such as mortgages, education and daily living costs. Life insurance ensures loved ones are protected in the event of an untimely death.
To find a lost life insurance policy in Lowell, start by checking personal records and contacting the insurance company. You can also use the National Association of Insurance Commissioners' Life Insurance Policy Locator service to 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.
