Updated: November 21, 2024
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In Madison, Wisconsin, Mutual of Omaha offers the best life insurance for men, with a MoneyGeek score of 91 and an average monthly premium of $35. For women, the best option is Protective, with a MoneyGeek score of 92 and a monthly premium of $24. These scores and premium costs are based on a 20-year term policy with $500,000 coverage.
There are different factors to consider when deciding what 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 Madison, Wisconsin.
Coverage costs and company information for life insurance providers were updated in August 2024.
BestLife InsuranceMadison, WIBest Life Insurance Companies in Madison
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 Madison, the best life insurance provider for men is Mutual of Omaha, with a MoneyGeek score of 91 and an average monthly premium of $35. For women, the top provider is Protective, with a MoneyGeek score of 92 and a monthly cost of $24.
Top providers for men:
Top providers for women:
Mutual of Omaha offers the best value for men, balancing cost and reliability with a high MoneyGeek score. For women, Protective stands out with the highest score and the most affordable premium. These features make them the best choices for individuals looking to purchase life insurance in Madison.
In Madison, Mutual of Omaha is the top choice for men, with a MoneyGeek score of 91 and a monthly cost of around $35. Protective leads for women, with a MoneyGeek score of 92 and $24 per month. Both companies excel in customer satisfaction and financial stability, offering reliable services to their clients. However, the buying process may require patience, as reflected in their lower scores in this category.
Mutual of Omaha
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Protective
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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.
For those seeking the best term life insurance in Madison, Mutual of Omaha stands out for men, with a MoneyGeek score of 92 and an average monthly premium of $15. Protective is the best for women, with a MoneyGeek score of 92 and a monthly cost of around $12. These companies' high scores reflect their commitment to customer satisfaction, affordability and financial stability, making them solid choices for individuals looking for reliable term life insurance coverage.
The top two term life insurance companies for men are:
For women, the top two are:
Term life insurance is a policy that provides coverage for a certain period, offering a death benefit to beneficiaries if the insured passes away during the term. For example, a parent might choose term life insurance to ensure their child's college education is funded in case of their untimely death.
Mutual of Omaha is the premier choice for term life insurance for men in Madison, with a MoneyGeek score of 92. Men can secure coverage at approximately $15 per month, ensuring both affordability and quality service.
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Protective is the premier option for term life insurance for women in Madison. With a MoneyGeek score of 92, it offers a balance of value and reliability. Women can secure coverage at an average monthly premium of $12, ensuring financial protection without undue expense.
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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.
For individuals in Madison seeking the best whole life insurance, Protective is the leading provider for men and women, with a MoneyGeek score of 92 for both genders. This score reflects the company's strong performance in affordability, customer satisfaction, buying process and financial stability, making it an excellent choice for those prioritizing a comprehensive insurance package.
Top whole life companies for men in Madison:
Top whole life companies for women in Madison:
Whole life insurance offers a fixed premium and a guaranteed death benefit, making it suitable for those seeking long-term financial security. For example, an individual may choose whole life insurance to protect their family's future, regardless of market fluctuations or life's uncertainties.
In Madison, Protective is the premier provider of whole life insurance for men and women, with a MoneyGeek score of 92 for both genders. The company's commitment to customer satisfaction and financial stability sets it apart in the market.
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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 provides the best universal life insurance in Madison, with a MoneyGeek score of 91 for men and women. This high score suggests that Protective offers a balance of affordability, customer satisfaction and financial stability, making it a solid choice for long-term financial planning.
Best universal life insurance for men:
Best for women's universal life insurance:
Universal life insurance is a flexible type of permanent life insurance that combines a death benefit with a savings component. For instance, someone might choose universal over term life insurance because it can provide a death benefit while allowing the policyholder to build cash value that can be used during their lifetime.
For those seeking reliable universal life insurance in Madison, Protective is the top choice for men and women. It has a MoneyGeek score of 91 for both genders. The company's commitment to customer satisfaction and financial stability sets it apart in the market. Whether you're a man or a woman, Protective's universal life insurance offerings in Madison stand out for quality and reliability.
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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.
In Madison, Protective provides the best no-medical-exam life insurance in Madison for men and women, with a MoneyGeek score of 91 for both. This score indicates that Protective balances affordability, customer satisfaction and financial stability, making it a strong choice for the average individual seeking life insurance without the hassle of a medical exam.
Best no-medical-exam life insurance for men:
Best life insurance for women that does not require a medical exam:
Life insurance with no mandatory medical exam allows individuals to secure a policy without undergoing a physical examination. For example, someone with a busy schedule or a fear of doctors might choose this insurance to avoid the time and stress of a medical check-up.
In Madison, Protective is the premier choice for life insurance that doesn't require a medical exam, with a MoneyGeek score of 91 for men and women. This score reflects a balance of affordability, customer satisfaction and financial stability, making Protective a reliable option for life insurance seekers in Madison.
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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 Madison, Mutual of Omaha offers the best term life insurance. For men, it has a MoneyGeek score of 92 and an average monthly premium of $62. For women, Protective leads, also with a MoneyGeek score of 92 and a monthly premium of $54.
Age is a factor determining the cost of life insurance premiums, as older individuals present a higher risk to insurers. Mutual of Omaha and Protective's high scores indicate a strong balance between affordability, customer satisfaction, buying process, financial stability and product diversity.
| 1 | Mutual of Omaha | $62 | 92 |
| 2 | Protective | $72 | 91 |
| 3 | Nationwide | $62 | 91 |
| 4 | Transamerica | $74 | 87 |
| 5 | AAA | $107 | 86 |
| 6 | Prudential | $74 | 86 |
| 7 | Allstate | $95 | 85 |
| 8 | State Farm | $110 | 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.
Mutual of Omaha stands out with the best term life insurance for smokers. For men, it has a MoneyGeek score of 91 and an average monthly monthly premium of $34. For women, it has a MoneyGeek score of 89 and a monthly premium of $31.
Smoking is a significant factor in determining life insurance premiums due to the associated health risks, which often translate to higher costs for smokers. Mutual of Omaha's high MoneyGeek scores indicate a balance of affordability, customer satisfaction and financial stability. These features are crucial for individuals who want reliable coverage without overpaying.
| 1 | Mutual of Omaha | $34 | 91 |
| 2 | Allstate | $31 | 89 |
| 3 | Nationwide | $42 | 89 |
| 4 | Protective | $51 | 88 |
| 5 | Transamerica | $31 | 88 |
| 6 | Prudential | $33 | 87 |
| 7 | State Farm | $48 | 86 |
| 8 | AAA | $63 | 85 |
| 9 | Haven | $61 | 83 |
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.
The provider of the best term life insurance for young adults in Madison varies by gender. For men, Mutual of Omaha tops the list with a MoneyGeek score of 92 and an average monthly premium of $9. For women, Protective leads with a MoneyGeek score of 92 and a monthly premium of $8. Mutual of Omaha and Protective score high due to their affordability, customer satisfaction and financial stability.
Age significantly impacts life insurance premiums. Younger adults often enjoy lower costs because younger individuals generally pose a lower risk to insurers.
| 1 | Mutual of Omaha | $9 | 92 |
| 2 | Protective | $10 | 92 |
| 3 | Nationwide | $11 | 90 |
| 4 | AAA | $16 | 88 |
| 5 | Transamerica | $11 | 88 |
| 6 | Allstate | $17 | 86 |
| 7 | Haven | $12 | 86 |
| 8 | State Farm | $18 | 86 |
| 9 | Prudential | $15 | 86 |
| 10 | 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.
For the best cheap term life insurance in Madison, Mutual of Omaha is the top provider for men, with a MoneyGeek score of 92 and an average monthly premium of $15. For women, Protective leads with a MoneyGeek score of 92 and a monthly premium of $12. The winning companies have high MoneyGeek scores due to their strong customer satisfaction, affordability and financial stability.
Factors like age, health, coverage amount and term length influence life insurance premiums. To get the lowest premiums, maintain good health, avoid tobacco and compare quotes from different providers.
| 1 | Mutual of Omaha | $15 | 92 |
| 2 | Nationwide | $16 | 92 |
| 3 | Protective | $17 | 91 |
| 4 | Transamerica | $18 | 89 |
| 5 | Prudential | $22 | 85 |
| 6 | Allstate | $26 | 85 |
| 7 | Haven | $22 | 84 |
| 8 | AAA | $25 | 84 |
| 9 | State Farm | $29 | 82 |
In Madison, Wisconsin, the average monthly premium for term life insurance is $32 for men and $24 for women.
Several factors influence these premiums, including age, health, lifestyle, occupation and the length of the policy term. These elements can significantly impact the cost of life insurance for individuals.
The cost of life insurance in Madison might be higher or lower than the rest of Wisconsin due to various local factors. These can include local health statistics that may affect the risk assessment for insurers, economic conditions that influence the purchasing power of residents and crime rates that might impact the perceived risk. The availability of insurance providers in Madison can also play a role in determining the cost of premiums. Understanding these factors can help consumers make informed decisions about their life insurance options.
Mutual of Omaha offers the best life insurance for men in Madison, with a MoneyGeek score of 91 out of 100.
The average monthly premium for the best life insurance for men in Madison is $35 from Mutual of Omaha. This rate makes it a competitive option.
Protective provides the best life insurance for women in Madison for women, with a MoneyGeek score of 92.
Protective offers the best life insurance for women in Madison at an average monthly premium of $24. This affordable rate makes it a preferred option.
Life insurance in Madison may differ from the rest of Wisconsin in terms of premium costs and available providers. For instance, Protective and Mutual of Omaha are top choices in Madison. Residents should compare options within their city to find the best fit for their needs.
If a life insurance company goes bankrupt in Madison, guaranty associations in Wisconsin typically step in. These associations protect policyholders by covering claims up to certain limits. It's crucial to understand these protections and verify the company's financial stability before purchasing a policy.
Madison residents might need life insurance to provide financial security for their families. Life insurance can cover funeral expenses, pay off debts and replace lost income. It's a way to ensure loved ones are cared for in the event of an unexpected death.
To find a lost life insurance policy in Madison, start by checking personal records and contacting the deceased's financial advisors. You can also reach out to the Wisconsin Office of the Commissioner of Insurance or use online tools to search for unclaimed policies. Persistence is key in locating these important documents.
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.
