Updated: November 22, 2024
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If you're looking for the best life insurance in Peoria, Illinois, Protective stands out with a MoneyGeek score of 92 for men and women. The average monthly premium is $24 for men and $23 for women. The score and premiums are based on a 20-year term policy with $500,000 coverage.
Different factors, such as age, health and coverage amount, should be considered 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 Peoria, Illinois.
Coverage costs and company information for life insurance providers were updated in October 2024.
BestLife InsurancePeoria, ILBest Life Insurance Companies in Peoria
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 is the best life insurance provider in Peoria for men and women, with a MoneyGeek score of 92 out of 100 for both. Its average monthly premium is $24 for men and $23 for women.
Top providers for men:
Top providers for women:
Protective stands out due to its high MoneyGeek score and affordable premiums. This combination makes it an excellent choice for the average individual looking to purchase life insurance in Peoria. The company's strong customer satisfaction and financial stability scores enhance its appeal.
In Peoria, Protective is the premier choice for life insurance for men and women, with a MoneyGeek score of 92 for each group. Women pay an average monthly premium of $23, while men pay around $24. Protective is a reliable and affordable option for life insurance coverage.
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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 Peoria for men and women. It has a MoneyGeek score of 92 and an average monthly premium of $12 for both genders. This company stands out for its high customer satisfaction, affordability and financial stability, making it an excellent 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 offers a death benefit over a set term, providing financial security for beneficiaries without the lifelong commitment of whole life policies. For instance, a parent might choose term life insurance to ensure their child's education costs are covered in the event of their untimely passing.
Protective is the best term life insurance provider in Peoria, with a MoneyGeek score of 92 for men and women. Both genders pay an average monthly premium of $12 to access Protective's reliable coverage. This company provides affordable premiums and excels in 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.
Protective provides the best whole life insurance in Peoria, with a MoneyGeek score of 92 for men and women. This score reflects a combination of affordability, customer satisfaction and financial stability, making Protective a top choice for individuals seeking reliable life insurance coverage.
Top whole life companies for men in Peoria:
Top whole life companies for women in Peoria:
Whole life insurance provides lifelong coverage and a cash value component, which can serve as a financial safety net or investment opportunity. For instance, someone might choose whole life insurance to ensure their family's financial stability while building cash value that can be borrowed against in the future.
Protective is the premier choice for the best whole life insurance in Peoria, with a MoneyGeek score of 92 for men and women. The company prioritizes customer satisfaction, affordability and a stable financial outlook.
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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 Peoria, Protective provides the best universal life insurance, with a MoneyGeek score of 91 out of 100 for men and women. This score reflects the company's strong performance across various metrics, including affordability, customer satisfaction and financial stability.
Best universal life insurance for men:
Best for women's universal life insurance:
Universal life insurance offers flexibility in premiums and death benefits, making it a suitable option for those who want long-term coverage with the potential for cash value growth. For instance, an individual with a fluctuating income might prefer universal life insurance over term life insurance for its ability to adjust premium payments according to their financial situation.
Protective is the leading provider of universal life insurance for men and women in Peoria, with a MoneyGeek score of 91 for both. Protective 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.
Protective is the best no-medical-exam life insurance provider in Peoria, with a MoneyGeek score of 91 for men and women. This score reflects the company's commitment to affordability, customer satisfaction and financial stability, making it an excellent choice for individuals looking for reliable coverage without undergoing 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 the need for a physical examination. It can be a significant advantage for those with health concerns or a need for expedited coverage. For example, someone with a chronic condition that could lead to higher premiums or disqualification might opt for life insurance with no required medical exam to ensure they can obtain a policy quickly and with less hassle.
Protective is the premier choice for men and women in Peoria seeking life insurance without a required medical exam. With a MoneyGeek score of 91 for both genders, Protective offers a combination of excellent customer satisfaction, affordability and financial stability. Clients can expect a straightforward and cost-effective insurance experience with Protective's offerings.
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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 Peoria, Protective provides the best term life insurance for seniors, with a MoneyGeek score of 92 for men and $91 for women. Its average monthly premiums are $53 and $54, respectively.
Age influences life insurance premiums; the risk to insurers increases as individuals age, leading to higher costs. Protective's top score reflects its commitment to affordability, customer satisfaction, a seamless buying process, financial stability and a diverse product offering. For seniors in Peoria, this means receiving quality coverage without compromising on value.
| 1 | Protective | $53 | 92 |
| 2 | Mutual of Omaha | $60 | 91 |
| 3 | Nationwide | $54 | 90 |
| 4 | AAA | $69 | 88 |
| 5 | Prudential | $51 | 88 |
| 6 | Transamerica | $65 | 87 |
| 7 | Allstate | $77 | 86 |
| 8 | State Farm | $103 | 84 |
| 9 | Haven | $102 | 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.
In Peoria, Mutual of Omaha stands out with the best term life insurance for smokers, with a MoneyGeek score of 90 for men and 88 for women. Men pay an average monthly premium of $58, while women pay around $63.
Smoking significantly affects life insurance costs due to the associated health risks, leading to higher premiums for smokers. Mutual of Omaha's high MoneyGeek score reflects its strong performance across affordability, customer satisfaction, buying process and financial stability. For smokers in Peoria, this translates to reliable coverage at a reasonable cost.
| 1 | Mutual of Omaha | $58 | 90 |
| 2 | Nationwide | $60 | 89 |
| 3 | AAA | $62 | 88 |
| 4 | Protective | $79 | 88 |
| 5 | Prudential | $44 | 88 |
| 6 | Transamerica | $56 | 87 |
| 7 | State Farm | $74 | 85 |
| 8 | Allstate | $72 | 85 |
| 9 | Haven | $93 | 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 Peoria, Protective stands out with a MoneyGeek score of 92 and an average monthly premium of $7 for men and women. Protective's high MoneyGeek score is attributed to its affordability, excellent customer satisfaction and robust financial stability.
Age is a critical factor in the cost of life insurance premiums. Younger adults typically pay lower premiums because they are considered lower risk. Protective's competitive rates and strong performance in key areas ensure that young adults can secure reliable coverage at an affordable price.
| 1 | Protective | $7 | 92 |
| 2 | Mutual of Omaha | $9 | 91 |
| 3 | Nationwide | $9 | 89 |
| 4 | AAA | $10 | 88 |
| 5 | Transamerica | $9 | 87 |
| 6 | Prudential | $10 | 86 |
| 7 | Haven | $11 | 85 |
| 8 | Allstate | $14 | 84 |
| 9 | State Farm | $17 | 84 |
| 10 | Bestow | $15 | 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 those seeking the best cheap term life insurance in Peoria, Protective stands out with a MoneyGeek score of 92 and an average monthly premium of $12 for men and women. Protective's high score is due to its affordability, customer satisfaction and financial stability.
Factors influencing life insurance premiums include age, health rating and coverage amount. To get the lowest premiums, maintain a healthy lifestyle and choose the right coverage amount.
| 1 | Protective | $12 | 92 |
| 2 | Nationwide | $14 | 91 |
| 3 | Mutual of Omaha | $14 | 90 |
| 4 | AAA | $16 | 89 |
| 5 | Transamerica | $15 | 88 |
| 6 | Prudential | $15 | 88 |
| 7 | Haven | $19 | 84 |
| 8 | Allstate | $21 | 84 |
| 9 | State Farm | $26 | 82 |
The average monthly premium for term life insurance in Peoria, Illinois, is $29 for women and $33 for men. Knowing these rates can help consumers make informed decisions when purchasing life insurance.
Several factors affect the cost of life insurance premiums, including age, health, lifestyle and occupation. Insurance companies assess these factors to determine the risk associated with insuring an individual.
The cost of life insurance in Peoria might be higher or lower than in other parts of Illinois for various reasons. Local economic conditions, health statistics and lifestyle trends can all influence insurance premiums. For instance, premiums might be higher if Peoria has higher health care costs or a higher incidence of certain health conditions. Conversely, lower living costs or healthier lifestyle trends could result in lower premiums.
Protective has the best life insurance for men in Peoria. Its MoneyGeek score of 92 out of 100 indicates its overall performance and quality.
The average monthly premium for the best life insurance for men in Peoria is $24. Protective offers this rate, which is affordable for quality coverage.
Protective has the best life insurance for women in Peoria, with a MoneyGeek score of 92 out of 100.
The average monthly premium for the best life insurance for women in Peoria is $23. Protective offers this rate, ensuring women can access affordable and reliable life insurance.
Life insurance in Peoria may differ from the rest of Illinois in terms of premium costs and available coverage options. For example, Peoria's rates might be more competitive due to local economic factors. Additionally, the best-rated companies and their scores can vary, impacting consumer choices.
If a life insurance company goes bankrupt in Peoria, state guaranty associations typically step in to protect policyholders. These associations ensure that coverage continues up to a certain limit, providing a safety net for consumers even if their insurer fails.
Peoria residents might need life insurance for various reasons, such as providing financial security for their families, covering debts or ensuring their loved ones can maintain their standard of living. Life insurance can also help with estate planning and covering final expenses.
To find a lost life insurance policy in Peoria, start by checking personal records and contacting the deceased's financial advisors. You can also reach out to the Illinois Department of Insurance or use online search tools designed to locate unclaimed policies.
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.
