Updated: November 21, 2024
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For women, Protective offers the best life insurance in New Orleans, Louisiana, with a MoneyGeek score of 92 and a monthly premium of $31. For men, Mutual of Omaha ranks highest with a MoneyGeek score of 91 and a monthly premium of $43.
There are different factors to consider when deciding on what type of life insurance to buy. 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 New Orleans, Louisiana.
Coverage costs and company information for life insurance providers were updated in October 2024.
BestLife InsuranceNew Orleans, LABest Life Insurance Companies in New Orleans
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 New Orleans, Protective offers the best life insurance for men and women, with a MoneyGeek score of 92 out of 100 and a monthly premium of $31. This company stands out for its comprehensive coverage and affordability.
The top providers for men are:
The top providers for women are:
Protective is the best choice for the average individual looking to purchase life insurance in New Orleans due to its high MoneyGeek score and affordable monthly premiums. The company provides a balanced mix of affordability, customer satisfaction and financial stability.
In New Orleans, for men, Mutual of Omaha leads with a MoneyGeek score of 91 and a monthly premium of $43. It offers reliable, tailored coverage options.
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In New Orleans, Protective stands out as the best life insurance choice for women, with a MoneyGeek score of 92 and a monthly premium of $31. It offers reliable coverage, ensuring peace of mind for policyholders.
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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.
In New Orleans, Protective provides the best term life insurance for men and women, with a MoneyGeek score of 91 for men and 92 for women. The monthly premiums are a reasonable $22 for men and $16 for women.
The top providers for men are:
The top providers for women are:
Term life insurance is a straightforward insurance product that provides coverage for a specified term, typically ranging from 10 to 30 years. It's often chosen for its simplicity and lower premiums compared to whole life insurance. For example, a parent might purchase a 20-year term policy to ensure financial stability for their children until they reach adulthood.
Protective provides the best term life insurance in New Orleans. With a MoneyGeek score of 91 for men and 92 for women, it leads the pack, offering a monthly premium of $22 and $16, respectively. This ranking reflects a balance of cost, 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 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.
The best whole life insurance in New Orleans is provided by Protective, for men and women, with a MoneyGeek score of 92 for both. This score reflects a blend of affordability, customer satisfaction and financial stability.
The top providers for women are:
The top providers for women are:
Whole life insurance is a type of permanent life insurance that offers a death benefit along with a savings component. For instance, someone might opt for whole life insurance to ensure lifelong coverage while accumulating a cash value that grows at a guaranteed rate. This can be particularly appealing for those who want a predictable investment component alongside their insurance.
Protective stands out as the premier choice for whole life insurance in New Orleans, catering to men and women with a MoneyGeek score of 92. The company's commitment to excellence resonates through its high customer satisfaction and robust 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.
Protective provides the best universal life insurance in New Orleans, with a MoneyGeek score of 91 for both men and women. This score reflects a strong combination of affordability, customer satisfaction, financial stability and product diversity.
The top providers for men are:
The top providers for women are:
Universal life insurance is a flexible policy that combines life coverage with a savings element, which can accumulate cash value over time. For instance, someone might prefer universal life insurance to have the option to adjust their premiums and death benefits over time, catering to changing financial circumstances.
Protective emerges as the premier provider of universal life insurance in New Orleans, securing the highest MoneyGeek score of 91 for men and women. This distinction underscores the company's commitment to delivering quality service and value to its clients.
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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.
Protective provides the best life insurance with no mandatory medical exam in New Orleans for men and women, with a MoneyGeek score of 91. This high score indicates a strong balance of affordability, customer satisfaction and financial stability.
The top providers for men are:
The top providers for women are:
No-medical-exam life insurance provides coverage without the need for a medical examination, which can be an attractive option for those with health concerns or a desire for a quicker application process. For example, someone with a busy lifestyle or a pre-existing condition may prefer the convenience and accessibility of this insurance over traditional policies that require health screenings.
For those seeking no-medical-exam life insurance in New Orleans, Protective emerges as the premier option for men and women. With a MoneyGeek score of 91 for both, Protective stands out for its robust offerings 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 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 New Orleans, the best term life insurance for seniors is from Mutual of Omaha for men, with a MoneyGeek Score of 91 and a monthly premium of 85. Protective leads for senior women, scoring 92 with a monthly premium of 69.
Age is a key factor in life insurance premiums; as people age, the risk to insurers increases, which can lead to higher premiums. The high MoneyGeek scores for these companies reflect a strong balance of affordability, customer satisfaction, financial stability and product diversity.
| 1 | Mutual of Omaha | $85 | 91 |
| 2 | Nationwide | $69 | 91 |
| 3 | Protective | $91 | 90 |
| 4 | Prudential | $85 | 86 |
| 5 | Transamerica | $96 | 86 |
| 6 | AAA | $142 | 86 |
| 7 | Allstate | $112 | 86 |
| 8 | State Farm | $143 | 85 |
| 9 | Haven | $154 | 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 men seeking the best term life insurance for smokers in New Orleans, Mutual of Omaha leads with a MoneyGeek score of 90 and a monthly premium of $47. The top provider for women is Allstate, with a score of 89 and a monthly premium of $29.
Smoking influences life insurance premiums as insurers evaluate the heightened risk it poses to an individual's health. Mutual of Omaha and Allstate's high MoneyGeek scores reflect a strong balance between affordability, customer satisfaction, financial stability and product diversity. These factors are vital for those in search of reliable coverage amidst the risks associated with smoking.
| 1 | Mutual of Omaha | $47 | 90 |
| 2 | Nationwide | $45 | 90 |
| 3 | Allstate | $41 | 88 |
| 4 | Transamerica | $42 | 88 |
| 5 | Prudential | $38 | 88 |
| 6 | Protective | $68 | 87 |
| 7 | State Farm | $59 | 86 |
| 8 | AAA | $75 | 86 |
| 9 | Haven | $78 | 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.
For the best term life insurance for young adults in New Orleans, Protective stands out with a MoneyGeek score of 92 for women and 91 for men. The monthly premiums are $10 for women and $13 for men.
Age plays a significant role in the cost of life insurance premiums. Younger adults generally pay lower premiums due to their lower risk of health issues. Protective earned the highest MoneyGeek score due to its affordability, customer satisfaction and financial stability.
| 1 | Protective | $13 | 91 |
| 2 | Mutual of Omaha | $13 | 91 |
| 3 | Nationwide | $12 | 91 |
| 4 | Transamerica | $14 | 87 |
| 5 | AAA | $22 | 86 |
| 6 | Prudential | $17 | 86 |
| 7 | Allstate | $21 | 85 |
| 8 | Haven | $17 | 85 |
| 9 | State Farm | $25 | 85 |
| 10 | Bestow | $27 | 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.
Nationwide offers the best cheap term life insurance for men in New Orleans with a MoneyGeek score of 93 and a monthly premium of $19. For women, Protective tops the list with a MoneyGeek score of 92 and a monthly premium of $16.
Several factors influence the cost of life insurance premiums. These include age, health status, gender and the length and amount of coverage. To get the lowest premiums, maintain good health, avoid tobacco and choose the right coverage amount.
| 1 | Nationwide | $19 | 93 |
| 2 | Mutual of Omaha | $21 | 91 |
| 3 | Protective | $22 | 91 |
| 4 | Transamerica | $23 | 88 |
| 5 | Prudential | $25 | 87 |
| 6 | AAA | $34 | 85 |
| 7 | Allstate | $32 | 84 |
| 8 | Haven | $29 | 84 |
| 9 | State Farm | $38 | 82 |
The average monthly cost of term life insurance in New Orleans is $29 for men and $24 for women. Many factors influence life insurance premiums. These include age, health, lifestyle, occupation, the amount of coverage, and the length of the term. Insurers assess these factors to determine the risk associated with providing coverage.
Life insurance costs in New Orleans may differ from the rest of Louisiana due to various local factors. Health trends, economic conditions, and specific risk factors unique to the area can impact premium costs. Additionally, competition among insurers in New Orleans can affect pricing, leading to variations compared to other regions in the state.
Mutual of Omaha has the best life insurance in New Orleans for men, with a MoneyGeek score of 91.
The monthly premium cost for the best life insurance for men in New Orleans, offered by Mutual of Omaha, is $43.
Protective has the best life insurance in New Orleans for women, with a MoneyGeek score of 92.
The monthly premium cost for the best life insurance for women in New Orleans, offered by Protective, is $31.
Life insurance in New Orleans may have different premium rates and coverage options compared to the rest of Louisiana. For example, factors like local health statistics and environmental risks can affect premiums. New Orleans residents might face higher premiums due to these localized factors.
If a life insurance company goes bankrupt in New Orleans, state guaranty associations typically step in to cover policyholders. These associations provide a safety net, ensuring that claims are paid up to certain limits. Check the specific coverage limits in Louisiana.
New Orleans residents might need life insurance to provide financial security for their families in case of unexpected death. Life insurance can cover funeral costs, debts, and provide income replacement. This is particularly important in a city prone to natural disasters.
To find a lost life insurance policy in New Orleans, start by checking with the deceased's financial advisors or employers. You can also contact the Louisiana Department of Insurance for assistance. Additionally, online search tools like the National Association of Insurance Commissioners' Life Insurance Policy Locator can be helpful.
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.
