Updated: November 21, 2024
Advertising & Editorial Disclosure
Protective is the best life insurance company in Norfolk, Virginia, for men and women, with a MoneyGeek score of 92 for both. The monthly premium cost is $19 for women and $23 for men. These scores and premium costs are based on a 20-year term policy with $500,000 coverage.
When deciding on life insurance, consider different factors that may affect your needs. Your unique situation 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 Norfolk, Virginia.
Coverage costs and company information for life insurance providers were updated in August 2024.
BestLife InsuranceNorfolk, VABest Life Insurance Companies in Norfolk
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 Norfolk for men and women, with a MoneyGeek score of 92 out of 100 and a monthly premium of $23 for men and $19 for women. The top providers for men are:
The top providers for men are:
The top providers for women are:
Protective stands out as the best choice for life insurance in Norfolk due to its high MoneyGeek scores for men and women. The company offers competitive monthly premiums and excellent overall value, making it a reliable option for those seeking comprehensive life insurance coverage.
In Norfolk, Protective stands out as the premier choice for life insurance for both men and women. With an overall MoneyGeek score of 92, Protective offers monthly premiums of $19 for women and $23 for men. This reflects the company's commitment to affordability and customer satisfaction, ensuring policyholders receive quality service without breaking the bank.
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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 provides the best term life insurance in Norfolk for men and women, with a MoneyGeek score of 92 out of 100. This score reflects Protective's strong performance across affordability, customer satisfaction, and financial stability, making it a top choice for individuals seeking reliable term life insurance coverage without overpaying. Men can secure a policy at approximately $11 per month, while women can do so for about $10 per month.
The top providers for men are:
The top providers for women are:
Term life insurance is a policy where coverage is provided for a certain period, offering a death benefit if the insured passes away during the term. For example, someone might choose term life insurance to ensure their family's financial stability during their working years, which is typically more affordable compared with permanent life insurance options.
Protective is the best choice for term life insurance in Norfolk for women and men, offering a blend of affordability and quality. With a MoneyGeek score of 92 for both, it provides policies at an estimated monthly premium of $10 for women and $11 for men. Customers can expect a straightforward selection process with a focus on 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.
Protective stands out in Norfolk with the highest MoneyGeek score of 92 for both men and women, making the best whole life insurance provider in the region. This score suggests that Protective excels in affordability, customer satisfaction, buying process, financial stability and product diversity.
The top providers for men are:
The top providers for women are:
Whole life insurance is a permanent policy that provides coverage for the insured's entire lifetime, as long as premiums are paid. It can be an attractive option if you’re seeking a stable, long-term financial planning tool that includes a savings component.
Protective offers the best whole life insurance in Norfolk, offering robust coverage for men and women. With a MoneyGeek Score of 92 for both, Protective demonstrates a strong commitment to customer satisfaction and financial stability. Consumers can feel confident in the company's ability to meet their insurance needs without compromise.
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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 is the best universal life insurance provider in Norfolk, with a MoneyGeek score of 91 for men and women. This score reflects the company's strong performance across affordability, customer satisfaction, buying process, financial stability and product diversity.
The top providers for men are:
The top providers for women are:
Universal life insurance is a type of permanent life insurance that offers flexible premiums and the potential to accumulate cash value over time. It's an attractive option for those who desire long-term coverage with the added benefit of an investment component. This might benefit, for example, a person looking to secure their family's financial future while also investing in their retirement.
Protective offers the best universal life insurance in Norfolk, catering to men and women. With a MoneyGeek score of 91 for both, Protective ensures a balanced offering that resonates with customers' needs.
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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 stands out in Norfolk with the best life insurance with no mandatory medical exam, with a MoneyGeek score of 91 for men and women. Protective's high score suggests a combination of affordability, customer satisfaction, and financial stability, making it a solid choice for individuals seeking coverage without undergoing a medical examination.
The top providers for men are:
The top providers for women are:
No-medical-exam life insurance allows individuals to obtain coverage more quickly and with less hassle than traditional policies. For instance, someone with a busy lifestyle or a minor health issue might choose this option to avoid the time-consuming medical underwriting process.
Protective is the premier choice for no-medical-exam life insurance in Norfolk, serving men and women with exceptional scores. With a MoneyGeek score of 91 for both, this company demonstrates a strong 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 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.
For those in search of the best term life insurance for seniors in Norfolk, Protective stands out with a MoneyGeek score of 92 for men and 91 for women, and monthly premiums of $49 and $45, respectively.
Age influences the cost of premiums, with older individuals typically facing higher rates due to the increased risk to insurers. Protective's high MoneyGeek scores reflect a strong balance of affordability, customer satisfaction, and financial stability, making it a compelling choice for seniors prioritizing cost and quality in their insurance selection.
| 1 | Protective | $49 | 92 |
| 2 | Mutual of Omaha | $55 | 91 |
| 3 | Nationwide | $50 | 90 |
| 4 | Allstate | $53 | 88 |
| 5 | AAA | $65 | 88 |
| 6 | Prudential | $48 | 88 |
| 7 | Transamerica | $61 | 87 |
| 8 | State Farm | $97 | 84 |
| 9 | Haven | $96 | 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 those seeking the best term life insurance for smokers in Norfolk, Mutual of Omaha stands out with the highest MoneyGeek scores for men and women. The company offers a monthly premium of $54 for men and $53 for women, with scores of 90 and 88, respectively.
Smoking is a key factor in determining life insurance premiums because it poses greater health risks and potential costs for insurers. Mutual of Omaha's high scores reflect its solid performance in affordability, customer satisfaction, buying process, and financial stability, making it a compelling choice for individuals who smoke.
| 1 | Mutual of Omaha | $54 | 90 |
| 2 | Nationwide | $57 | 89 |
| 3 | AAA | $59 | 88 |
| 4 | Protective | $75 | 88 |
| 5 | Prudential | $43 | 88 |
| 6 | Transamerica | $53 | 87 |
| 7 | State Farm | $71 | 85 |
| 8 | Allstate | $87 | 84 |
| 9 | Haven | $89 | 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 Norfolk, Protective stands out with a MoneyGeek score of 92 and a monthly premium of $7 for men and $6 for women.
Age is a significant factor in determining life insurance premiums, with younger adults generally benefiting from lower costs. Protective's high MoneyGeek score reflects its strong performance in affordability, customer satisfaction, and financial stability.
| 1 | Protective | $7 | 92 |
| 2 | Mutual of Omaha | $8 | 91 |
| 3 | Nationwide | $9 | 89 |
| 4 | AAA | $9 | 88 |
| 5 | Allstate | $8 | 88 |
| 6 | Transamerica | $9 | 87 |
| 7 | Prudential | $10 | 86 |
| 8 | Haven | $10 | 85 |
| 9 | State Farm | $16 | 84 |
| 10 | Bestow | $14 | 84 |
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 Norfolk, Protective stands out with a MoneyGeek score of 92 and monthly premiums of $11 for men and $10 for women. Factors influencing life insurance premiums include age, health, coverage amount and term length.
To secure the lowest premiums, maintain a healthy lifestyle, choose an appropriate coverage amount, and consider a shorter term length. Protective's top ranking is due to its balance of affordability, customer satisfaction and financial stability.
| 1 | Protective | $11 | 92 |
| 2 | Nationwide | $13 | 91 |
| 3 | Mutual of Omaha | $13 | 90 |
| 4 | Allstate | $13 | 89 |
| 5 | AAA | $15 | 88 |
| 6 | Transamerica | $14 | 88 |
| 7 | Prudential | $14 | 87 |
| 8 | Haven | $18 | 84 |
| 9 | State Farm | $25 | 82 |
The average cost of term life insurance premiums in Norfolk is $22 per month for men and $18 per month for women. Several factors affect the cost of life insurance premiums. These include age, health, lifestyle, occupation and the amount of coverage. Insurers assess these factors to determine the risk associated with insuring a person.
The cost of life insurance in Norfolk might be higher or lower compared with the rest of Virginia due to various regional factors. Local health statistics can influence premiums because areas with higher rates of chronic illnesses might see higher costs. The cost of living can also play a role, with higher living costs potentially leading to higher premiums. Regional insurance regulations and market competition can impact the cost of premiums.
Protective offers the best life insurance for men in Norfolk, indicating strong performance across various metrics such as affordability, customer satisfaction and financial stability.
The monthly premium cost for the best life insurance for men in Norfolk, provided by Protective, is $23. This cost reflects the company's balance of affordability and comprehensive coverage.
Protective is the top choice for life insurance for women in Norfolk. The company excels in various categories, including customer satisfaction and affordability, making it a reliable option.
The monthly premium cost for the best life insurance for women in Norfolk, offered by Protective, is $19. This premium provides excellent value given the company's high overall performance.
Life insurance in Norfolk is similar to the rest of Virginia in terms of coverage options and costs. However, local providers like Protective may offer tailored plans that cater specifically to Norfolk residents. Comparing local and statewide options can help find the best fit.
If a life insurance company goes bankrupt in Norfolk, state regulations ensure policyholders are protected. The Virginia Life, Accident, and Sickness Insurance Guaranty Association steps in to cover claims, providing financial security despite the company's insolvency.
Norfolk residents may need life insurance for various reasons, including providing financial security for dependents, covering outstanding debts and ensuring peace of mind. Life insurance can also help with estate planning and final expenses, offering comprehensive financial protection.
To find a lost life insurance policy in Norfolk, residents can contact the Virginia State Corporation Commission or use online tools like the National Association of Insurance Commissioners' Life Insurance Policy Locator. These resources help track down missing policies efficiently.
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.
