Updated: November 21, 2024
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Protective provides the overall best life insurance in Miami, Florida, with the highest MoneyGeek score of 92 for both men and women. Its average monthly premiums are $24 and $19, respectively. The company's score and premium costs are based on a 20-year term policy with $500,000 coverage.
Various factors influence your decision on 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 Miami, Florida.
Coverage costs and company information for life insurance providers were updated in August 2024.
BestLife InsuranceMiami, FLBest Life Insurance Companies in Miami
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.
Protective offers the best life insurance in Miami for men and women, with a MoneyGeek score of 92 for both. The average monthly premiums are $24 for men and $19 for women.
Top providers for men:
Top providers for women:
Protective stands out for its high MoneyGeek scores and affordable premiums. These factors make it a reliable option for individuals purchasing life insurance in Miami.
In Miami, Protective is the best life insurance provider for men and women, with a MoneyGeek score of 92 for both. The company offers a monthly premium of $19 for women and $24 for men, reflecting its commitment to affordability and customer satisfaction.
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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 is the best term life insurance provider in Miami for men and women. For men, it has a MoneyGeek score of 92 and an average monthly premium of $11. For women, its MoneyGeek score is 91, and the average monthly premium is $9. The company stands out for its high customer satisfaction, affordability and financial stability, making it a solid choice for individuals seeking 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 specific period and offers a death benefit if the insured passes away during the term. It is often chosen over permanent insurance for its lower cost and the ability to match the term to a specific need, such as a 20-year mortgage.
Protective is the premier choice for term life insurance in Miami, with a MoneyGeek score of 92 for men and 91 for women. The company balances value and reliability, offering life insurance at an average of $11 per month for men and $9 for women. Protective's high ratings reflect its commitment to customer satisfaction and financial stability, making it a wise choice for term life insurance coverage.
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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 best whole life insurance provider in Miami, with a MoneyGeek score of 92 for both men and women. This score reflects its commitment to excellence across various metrics, including customer satisfaction and financial stability, making it a top choice for individuals seeking reliable life insurance coverage. With Protective leading the ranks, policyholders can anticipate a seamless buying process with robust product offerings.
Top whole life companies for men in Miami:
Top whole life companies for women in Miami:
Whole life insurance offers a guaranteed death benefit, fixed premiums and a cash value component that grows over time. For instance, someone might opt for whole life insurance to ensure lifelong coverage and as part of their estate planning, providing their beneficiaries peace of mind and financial security.
Protective is the leading provider of whole life insurance in Miami, securing the top spot with a MoneyGeek score of 92 for both men and women. This score reflects a strong balance of affordability, customer satisfaction and financial stability.
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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.
In Miami, Protective is the best universal life insurance provider for men and women, boasting a MoneyGeek score of 91 for both. This score indicates a strong combination of affordability, customer satisfaction and financial stability. Protective is a reliable choice for the average individual seeking life insurance coverage that can adapt to their changing needs.
Best universal life insurance for men:
Best for women's universal life insurance:
Universal life insurance is a flexible policy that allows policyholders to adjust their premiums and death benefits. For example, someone might choose universal life insurance over term life insurance to benefit from the policy's cash value component, which can be used as a tax-deferred investment or to cover premiums later in life.
Protective is the leading provider of universal life insurance in Miami, offering top-tier services for both men and women. With a MoneyGeek score of 91 for both, the company stands out for its commitment to customer satisfaction and financial stability.
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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 Miami, Protective provides the best life insurance without a required medical exam, with a MoneyGeek score of 91 for men and women. This score indicates a strong performance across several metrics, including affordability and customer satisfaction.
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 obtain coverage quickly and without needing a medical assessment. For instance, someone with a busy schedule or a fear of medical procedures might choose this type of insurance for its convenience and speed.
Protective is the premier choice in Miami for life insurance that doesn't require a medical exam. It caters to men and women and has a MoneyGeek score of 91 for both. The company offers reliable coverage tailored to diverse needs without compromising on quality.
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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 Miami, Protective provides the best term life insurance for seniors, with the highest MoneyGeek score of 91 for both men and women. Men can expect an average monthly premium of $47, while women are quoted around $41 per month.
Age is a determining factor in life insurance premiums. As individuals enter their senior years, premiums generally increase due to higher associated risks. Protective's leading score indicates its balanced offering, which reflects strong customer satisfaction, a straightforward buying process and financial stability.
| 1 | Protective | $47 | 91 |
| 2 | Mutual of Omaha | $51 | 91 |
| 3 | Nationwide | $48 | 90 |
| 4 | Allstate | $42 | 89 |
| 5 | AAA | $60 | 88 |
| 6 | Transamerica | $48 | 87 |
| 7 | Prudential | $63 | 85 |
| 8 | State Farm | $82 | 84 |
| 9 | Haven | $94 | 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 offers the best term life insurance for smokers in Miami. It has a MoneyGeek score of 91 and an average monthly premium of $31 for men. For women, it has a MoneyGeek score of 90 and a monthly premium of around $27.
Smoking influences life insurance premiums significantly. Due to the higher health risks it poses, insurers adjust their rates accordingly. Mutual of Omaha's top scores reflect its strong performance across several metrics, including affordability, customer satisfaction and financial stability. It is a compelling choice for smokers in Miami who prioritize a balance of cost and quality in their life insurance coverage.
| 1 | Mutual of Omaha | $31 | 91 |
| 2 | Nationwide | $36 | 89 |
| 3 | AAA | $34 | 89 |
| 4 | Transamerica | $27 | 88 |
| 5 | Protective | $46 | 88 |
| 6 | Prudential | $30 | 87 |
| 7 | State Farm | $42 | 86 |
| 8 | Allstate | $42 | 85 |
| 9 | Haven | $56 | 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 provides the best term life insurance for young adults in Miami. It has a MoneyGeek score of 92 for both men and women. Its average monthly premiums are $7 for men and $6 for women.
Age is a key factor in determining life insurance premiums. Younger individuals often pay lower premiums because they are generally healthier and pose less risk to insurers. Protective's high MoneyGeek score is due to its excellent customer satisfaction, strong financial stability and competitive affordability. Choosing Protective for term life insurance in Miami ensures young adults receive the best value and coverage.
| 1 | Protective | $7 | 92 |
| 2 | Mutual of Omaha | $8 | 91 |
| 3 | Nationwide | $8 | 90 |
| 4 | AAA | $9 | 89 |
| 5 | Allstate | $7 | 89 |
| 6 | Transamerica | $7 | 88 |
| 7 | State Farm | $14 | 86 |
| 8 | Haven | $10 | 86 |
| 9 | Prudential | $13 | 85 |
| 10 | Bestow | $21 | 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.
In Miami, Protective offers the best cheap term life insurance. It has a MoneyGeek score of 92 and an average monthly premium of $11 for men. For women, it has a MoneyGeek score of 91 and an average monthly premium of $9. Protective's high MoneyGeek score reflects its affordability, customer satisfaction and financial stability, making it a strong choice for those seeking value in Miami.
The cost of term life insurance is influenced by factors such as age, health and coverage amount. To get the lowest premiums, maintain good health, avoid tobacco and choose appropriate coverage.
| 1 | Protective | $11 | 92 |
| 2 | Allstate | $11 | 91 |
| 3 | Nationwide | $13 | 91 |
| 4 | Mutual of Omaha | $12 | 90 |
| 5 | Transamerica | $11 | 90 |
| 6 | AAA | $14 | 88 |
| 7 | Haven | $17 | 83 |
| 8 | State Farm | $21 | 82 |
| 9 | Prudential | $19 | 82 |
The average monthly cost of term life insurance in Miami, Florida, is $18 for women and $22 for men.
Many factors affect life insurance premiums, including age, health, lifestyle, coverage amount, policy term and location. In Miami, the cost of life insurance might be higher or lower than in the rest of Florida due to local health statistics, cost of living and specific risk factors. Understanding these variables can help you make informed decisions about your life insurance needs.
Protective offers the best life insurance in Miami for men. The company has the highest MoneyGeek score of 92 out of 100, making it a reliable choice for life insurance coverage.
The average monthly premium for the best life insurance for men in Miami is $24. This rate reflects the cost for a nonsmoking male aged 31 to 40 with excellent health.
Protective provides the best life insurance in Miami for women. The company's high MoneyGeek score of 92 out of 100 indicates strong customer satisfaction and financial stability.
The monthly premium for the best life insurance for women in Miami is around $19. This rate applies to a nonsmoking female aged 31 to 40 with excellent health.
Life insurance in Miami is similar to the rest of Florida in terms of coverage and premiums. However, Miami's diverse population might influence specific needs and preferences. For example, higher living costs in Miami could lead to higher coverage amounts.
If a life insurance company goes bankrupt in Miami, guaranty associations in Florida typically protect policyholders. These associations ensure that claims are paid up to certain limits, providing a safety net for policyholders.
Miami residents might need life insurance for financial security. Life insurance can cover funeral expenses, pay off debts and provide for dependents in case of an unexpected death.
To find a lost life insurance policy in Miami, contact the insurance company directly. If that doesn't work, reach out to the Florida Department of Financial Services for assistance.
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.
