For women, the top life insurance provider is Nationwide, with a MoneyGeek Score of 96 and an average monthly premium of $26. For men, Nationwide also comes out on top with the same score of 96 and a slightly higher premium of $27. When searching for the right life insurance policy, consider various factors, including affordability, company stability and customer satisfaction.
Best Life Insurance in New Mexico (December 2024)
Nationwide offers the best overall life insurance and best term life insurance, with scores of 96 and 98, respectively.
Updated: December 24, 2024
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Best Life Insurance Companies in New Mexico
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 New Mexico.
Coverage costs and company information for life insurance providers were updated in May 2024.
Best Life Insurance in New Mexico: Summary
Nationwide | 1 | 96 |
GEICO | 2 | 96 |
Mutual of Omaha | 3 | 95 |
Protective | 4 | 94 |
Allstate | 5 | 94 |
Transamerica | 6 | 94 |
State Farm | 7 | 93 |
Prudential | 8 | 91 |
AAA | 9 | 91 |
Haven | 10 | 90 |
Overall Best Life Insurance in New Mexico
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to score and rank the overall best life insurance companies in New Mexico:
- Affordability: 30%
- Financial Stability: 25%
- Buying Process: 20%
- Customer Satisfaction: 15%
- Product Diversity: 10%
Nationwide is the top-ranked company for the best life insurance in New Mexico, scoring the highest MoneyGeek score for both men and women. Nationwide boasts a MoneyGeek score of 96 for women and 96 for men, with monthly premiums at $26 for women and $27 for men.
Top companies with the highest MoneyGeek scores:
- Nationwide: MoneyGeek score of 96 out of 100 ($27 per month for men; $26 per month for women)
- GEICO: MoneyGeek score of 96 out of 100 ($23 per month for men; $23 per month for women)
- Mutual of Omaha: MoneyGeek score of 95 out of 100 ($27 per month for men; $24 per month for women)
Providing comprehensive insights, MoneyGeek empowers you with clarity and control over your life insurance choices, ensuring your peace of mind in New Mexico.
Best for Men: Nationwide
COMPANY HIGHLIGHTS
Nationwide is the best life insurance provider in New Mexico for men, with an overall MoneyGeek score of 96 and a monthly premium of $27. Nationwide offers a balance of affordability, product range and satisfaction, making it an unrivaled choice.
Pros:
- High marks in customer satisfaction
- Affordable premium rates
- Broad range of insurance products
Best for Women: Nationwide
COMPANY HIGHLIGHTS
Nationwide is the premier choice for the best life insurance in New Mexico for women, offering affordability and comprehensive coverage. It has an overall MoneyGeek score of 96 and an affordable monthly premium of $26.
Pros:
- High customer satisfaction
- Diverse product offerings
- Smooth buying process
Cons:
- Affordability may be a concern
Best Term Life Insurance in New Mexico
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to score and rank the best term life insurance companies in New Mexico:
- Affordability: 30%
- Financial Stability: 25%
- Buying Process: 20%
- Customer Satisfaction: 15%
- Product Diversity: 10%
Costs are based on quotes gathered for a $250,000 life insurance policy with a 10-year term.
Nationwide provides the best term life insurance in New Mexico for both men and women, It has a MoneyGeek score of 98 and 97, respectively, with approximate monthly premiums of $20 for men and $19 for women.
Top providers with the highest MoneyGeek scores for life insurance:
- Nationwide: MoneyGeek score of 98 out of 100 ($20 per month for men; $19 per month for women)
- GEICO: MoneyGeek score of 97 out of 100 ($17 per month for men; $17 per month for women)
- Mutual of Omaha: MoneyGeek score of 95 out of 100 ($21 per month for men; $21 per month for women)
Best Term Life: Nationwide
COMPANY HIGHLIGHTS
Nationwide is the leading choice for the best term life insurance in New Mexico, catering to both men and women. With an impressive overall MoneyGeek score of 98 and an affordable monthly premium of approximately $20, Nationwide stands out as a wise financial decision for life insurance needs.
Pros:
- Outstanding customer satisfaction
- Highly affordable life insurance options
- Diverse product offerings
Best Whole Life Insurance in New Mexico
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to score and rank the best whole life insurance companies in New Mexico:
- Financial Stability: 35%
- Customer Satisfaction: 30%
- Buying Process: 15%
- Product Diversity: 20%
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.
State Farm provides the best whole life insurance in New Mexico for both men and women, with a MoneyGeek score of 99.
The top 3 highest MoneyGeek scores for whole life insurance providers are:
- State Farm: MoneyGeek score of 99 out of 100
- Nationwide: MoneyGeek score of 98 out of 100
- Mutual of Omaha: MoneyGeek score of 96 out of 100
State Farm has the best scores, followed closely by Nationwide and Mutual of Omaha.
Best Whole Life: State Farm
COMPANY HIGHLIGHTS
State Farm is the top choice for the best whole life insurance in New Mexico, catering to both men and women. With a MoneyGeek score of 99, the company offers comprehensive coverage and unparalleled customer satisfaction.
Pros:
- Exceptional customer satisfaction
- Wide range of insurance products
- Strong financial stability
Cons:
- Affordability might be an issue
Compare Life Insurance Rates
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.
Best Universal Life Insurance in New Mexico
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to score and rank the best universal life insurance companies in New Mexico:
- Financial Stability: 25%
- Customer Satisfaction: 25%
- Buying Process: 25%
- Product Diversity: 25%
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.
Nationwide is the top provider of the best universal life insurance in New Mexico for both men and women, with a MoneyGeek score of 99.
The three highest MoneyGeek scores are:
- Nationwide: MoneyGeek score of 99 out of 100
- State Farm: MoneyGeek score of 98 out of 100
- Mutual of Omaha: MoneyGeek score of 97 out of 100
Best Universal Life: Nationwide
COMPANY HIGHLIGHTS
Introducing Nationwide, your top-of-the-line choice for universal life insurance in New Mexico. With an overall MoneyGeek score of 99, Nationwide has insurance for both men and women seeking dependable coverage and excellence.
Pros:
- Exceptional client satisfaction
- Offers competitively priced policies
- Wide range of insurance products
Best No-Medical-Exam Life Insurance in New Mexico
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to score and rank the best no-medical-exam life insurance companies in New Mexico:
- Financial Stability: 20%
- Customer Satisfaction: 25%
- Buying Process: 20%
- Product Diversity: 35%
We did not weigh affordability as we did not collect quotes for no-medical-exam life insurance. The company below has the highest score among the companies that offer life insurance policies without mandatory medical exams.
Nationwide offers the best no-medical-exam life insurance in New Mexico for both men and women, with a score of 99.
- Nationwide: MoneyGeek score of 99 out of 100
- State Farm: MoneyGeek score of 99 out of 100
- Mutual of Omaha: MoneyGeek score of 97 out of 100
In New Mexico, Nationwide has the best no-medical-exam life insurance, offering premier coverage without the hassle of a medical exam.
Best No-Medical-Exam: Nationwide
COMPANY HIGHLIGHTS
Nationwide provides the best no-medical-exam life insurance in New Mexico, catering to both men and women. With an overall MoneyGeek score of 99, Nationwide offers service excellence.
Pros:
- High customer satisfaction
- Competitive premiums
- Diverse product offerings
Recommended Life Insurance Coverage Amount:
Best Term Life Insurance for Seniors in New Mexico
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to score and rank the best term life insurance companies for seniors in New Mexico:
- Affordability: 30%
- Financial Stability: 25%
- Buying Process: 20%
- Customer Satisfaction: 15%
- Product Diversity: 10%
The same weighting factors were applied as the term life insurance category; however, the quote was adjusted to reflect an age of 70 for a more accurate estimate.
Nationwide has the best term life insurance for seniors in New Mexico. With a MoneyGeek score of 98 for men and approximately 98 for women, Nationwide provides affordable monthly premiums of $66 for men and $64 for women. This insurer's excellence is largely driven by high satisfaction, stability and diversity scores.
Nationwide | 1 | $66 | 98 |
Mutual of Omaha | 2 | $80 | 96 |
GEICO | 3 | $79 | 96 |
State Farm | 4 | $121 | 95 |
Prudential | 5 | $71 | 95 |
Transamerica | 6 | $63 | 94 |
Protective | 7 | $88 | 94 |
AAA | 8 | $86 | 94 |
Allstate | 9 | $75 | 94 |
Haven | 10 | $188 | 89 |
Best Term Life Insurance for Smokers in New Mexico
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to score and rank the best term life insurance companies in New Mexico for people who smoke:
- Affordability: 30%
- Financial Stability: 25%
- Buying Process: 20%
- Customer Satisfaction: 15%
- Product Diversity: 10%
The same weighting factors were applied as the term life insurance category; however, the quote was adjusted to reflect an active smoker for a more accurate estimate.
Nationwide offers the best term life insurance for smokers in New Mexico. For men, it has a MoneyGeek score of 97 and a monthly premium cost of $47. Prudential takes the top spot for women, with a MoneyGeek score of 95 and a monthly premium of $28. These companies stand out primarily due to their high satisfaction and affordability scores.
Nationwide | 1 | $47 | 97 |
GEICO | 2 | $41 | 96 |
Mutual of Omaha | 3 | $48 | 96 |
Prudential | 4 | $38 | 95 |
State Farm | 5 | $64 | 95 |
Transamerica | 6 | $42 | 94 |
AAA | 7 | $50 | 93 |
Protective | 8 | $75 | 90 |
Haven | 9 | $86 | 89 |
Allstate | 10 | $72 | 89 |
Best Term Life Insurance for Young Adults in New Mexico
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to score and rank the best term life insurance companies in New Mexico for young adults:
- Affordability: 30%
- Financial Stability: 25%
- Buying Process: 20%
- Customer Satisfaction: 15%
- Product Diversity: 10%
The same weighting factors were applied as the term life insurance category; however, the quote was adjusted to reflect an age of 20 for a more accurate estimate.
Nationwide offers the best term life insurance for young adults in New Mexico with a MoneyGeek Score of 97 for men and women and average monthly premiums of $13 for men and $17 for women. The strongest contributors to Nationwide's score are high satisfaction, process and diversity scores.
Nationwide | 1 | $13 | 97 |
GEICO | 2 | $11 | 97 |
Mutual of Omaha | 3 | $14 | 95 |
Protective | 4 | $11 | 95 |
Allstate | 5 | $11 | 94 |
State Farm | 6 | $23 | 94 |
Transamerica | 7 | $12 | 94 |
AAA | 8 | $15 | 93 |
Prudential | 9 | $18 | 92 |
Haven | 10 | $18 | 91 |
Bestow | 11 | $25 | 89 |
Best Cheap Term Life Insurance in New Mexico
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to score and rank the best cheap term life insurance companies in New Mexico:
- Affordability: 50%
- Financial Stability: 15%
- Buying Process: 20%
- Customer Satisfaction: 5%
- Product Diversity: 10%
The same weighting factors were applied as the term life insurance category; however, the quote was adjusted to reflect a 10-year term with minimum coverage.
Nationwide and Transamerica offer the best cheap term life insurance in New Mexico for men and women, respectively. Nationwide leads for men with a MoneyGeek score of 98 and a monthly premium of $20, while Transamerica stands out for women with a score of 97 and a monthly premium of $16.
Nationwide | $20 | 98 |
GEICO | $17 | 97 |
Transamerica | $18 | 96 |
Allstate | $18 | 96 |
Protective | $19 | 95 |
Mutual of Omaha | $21 | 95 |
AAA | $24 | 92 |
Prudential | $25 | 91 |
State Farm | $35 | 89 |
Haven | $32 | 87 |
Average Cost of Term Life Insurance in New Mexico
The average cost of monthly premiums for life insurance in New Mexico stands at $52 for women and $64 for men. When determining these rates, insurers consider factors like age, health, lifestyle and the amount of coverage.
FAQ: Life Insurance in New Mexico
What is the best life insurance in New Mexico for men?
The best life insurance in New Mexico for men is offered by Nationwide.
How much is life insurance in New Mexico for men?
The cost of life insurance in New Mexico for men is influenced by several factors, including age, health and lifestyle choices. For the top-rated policy for men, you're looking at an average monthly premium of $27.
What is the best life insurance in New Mexico for women?
The best life insurance in New Mexico for women is offered by Nationwide.
How much is life insurance in New Mexico for women?
Age, health and lifestyle and the type of policy chosen are crucial factors affecting life insurance prices in New Mexico. For women, the average monthly premium for the top-rated plan by Nationwide is $26.
About Mark Fitzpatrick
Mark Fitzpatrick is a senior content director at MoneyGeek with over five years of experience analyzing the insurance market, conducting original research and creating content that can be personalized for every buyer. He has been quoted on insurance topics in several publications, including CNBC, NBC News and Mashable.
Mark 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 economics and insurance knowledge to bring transparency around financial topics and help others feel confident in their money moves.
sources
- New Mexico Life Insurance Guaranty Association. "FAQ." Accessed December 10, 2024.