Updated: November 22, 2024
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Mutual of Omaha is the top insurance provider for men in Phoenix, Arizona, with a MoneyGeek score of 91 and an average monthly premium of $40. Protective is the best life insurance provider, for women, with a MoneyGeek score of 92 and a monthly premium of $31.
Different factors influence life insurance decisions, and 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 Phoeniz, Arizona.
Coverage costs and company information for life insurance providers were updated in October 2024.
BestLife InsurancePhoenix, AZBest Life Insurance Companies in Phoenix
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.
For men, Mutual of Omaha leads with a MoneyGeek score of 91 and a monthly premium of $40. For women, Protective is the top provider with a MoneyGeek score of 92 and a monthly premium of $31. Here are the top providers for both men and women in Phoenix based on MoneyGeek scores:
Top providers for men:
Top providers for women:
Mutual of Omaha and Protective stand out due to their high MoneyGeek scores, indicating strong affordability, customer satisfaction, and financial stability. This makes them reliable choices for life insurance in Phoenix.
Protective emerges as the best choice for women seeking life insurance in Phoenix, with a MoneyGeek score of 92 and an affordable monthly premium of $31. For men, Mutual of Omaha leads with a score of 91 and a monthly premium of $40. Both companies excel in customer satisfaction and financial stability, ensuring reliable coverage for their clients.
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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 Phoenix, Mutual of Omaha stands out as the best term life insurance provider for men with a MoneyGeek score of 91 at $19 per month, while Protective leads for women, scoring 92 at $17 per month. These companies offer reliable coverage options that resonate with the needs of the average individual seeking term life insurance.
The top two term life insurance companies for men are:
For women, the top two are:
Term life insurance is a straightforward protection plan, providing coverage for a predetermined period. It's an ideal choice for those who need financial security for their loved ones without a lifelong commitment or premium payments. For instance, a parent might opt for term life insurance to ensure their child's education is funded in the event of their untimely passing.
Mutual of Omaha stands out as the premier choice for term life insurance in Phoenix for men, boasting a MoneyGeek score of 91. With a monthly premium of $19, it offers a balance of cost and quality that is hard to beat.
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For women seeking the best term life insurance in Phoenix, Protective stands out with a MoneyGeek score of 92. The company offers a monthly premium of $17, providing a balance of cost and quality 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 provider of the best whole life insurance in Phoenix, with a MoneyGeek score of 92 for both men and women. This score suggests that Protective offers a blend of affordability, customer satisfaction, and financial stability that is well-suited for the average individual seeking a reliable insurance policy.
Top whole life companies for men in Phoenix:
Top whole life companies for women in Phoenix:
Whole life insurance is a permanent policy that provides a death benefit and accumulates cash value over time. Someone might choose best whole life insurance over term life insurance for its lifelong coverage and potential to grow cash value.
Protective is the top choice for whole life insurance in Phoenix for both men and women, with an overall MoneyGeek score of 92 for each. This score reflects a balance of affordability and customer satisfaction that Protective offers to its policyholders.
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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 offers the best universal life insurance provider for both men and women, boasting a MoneyGeek score of 91. Choosing Protective means selecting a company that excels in affordability, customer satisfaction and financial stability.
Best universal life insurance for men:
Best universal life insurance for women:
Universal life insurance offers flexibility in premiums and death benefits, which can be appealing to those who desire a more adaptable approach to their long-term financial planning. For example, a young professional might choose universal life insurance over term life insurance to benefit from the potential cash value growth.
Protective stands out as the premier choice for universal life insurance in Phoenix, catering to both men and women. The company's MoneyGeek score of 91 for both genders underscores its commitment to satisfaction and 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 offers the best life insurance without a medical exam for both men and women in Phoenix, boasting a MoneyGeek score of 91. This score indicates a robust offering that combines affordability, customer satisfaction and financial stability, making it an excellent choice for the average individual in the market for this type of insurance policy. The top MoneyGeek scores for no-medical-exam life insurance are:
Best no-medical-exam life insurance for men:
Best life insurance for women that does not require a medical exam:
This type of life insurance is a policy that does not require a medical examination for approval, offering a quicker and more convenient option for coverage. For instance, someone with a busy schedule or a dislike of medical appointments might choose this insurance to ensure they are covered without the hassle of a traditional health assessment.
Protective stands out as the premier choice for the best no-medical-exam life insurance in Phoenix, catering to both men and women. With a MoneyGeek score of 91 for both genders, Protective offers a blend of satisfaction and financial security to its policyholders. Here's a closer look at the advantages and drawbacks of choosing Protective for your insurance needs.
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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.
The Mutual of Omaha stands out as the top provider of the best term life insurance for seniors in Phoenix for men, boasting a MoneyGeek Score of 91 and a monthly premium of $73. For women, Protective leads with a score of 90 and a premium of $81.
Age influences life insurance costs, with premiums generally increasing as individuals enter their senior years. This is due to the higher risk associated with insuring older individuals. The high MoneyGeek scores for Mutual of Omaha and Protective reflect their strong performance across various metrics, including affordability, customer satisfaction, and financial stability. These factors are pivotal for seniors in Phoenix seeking reliable term life insurance coverage.
| 1 | Mutual of Omaha | $73 | 91 |
| 2 | Nationwide | $66 | 91 |
| 3 | Protective | $101 | 89 |
| 4 | Transamerica | $74 | 88 |
| 5 | Prudential | $67 | 87 |
| 6 | State Farm | $112 | 86 |
| 7 | Allstate | $112 | 85 |
| 8 | AAA | $131 | 85 |
| 9 | Haven | $153 | 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 Phoenix, Mutual of Omaha holds the top spot with a MoneyGeek score of 90 and a monthly premium of $44. Women, on the other hand, will find Allstate at the forefront, boasting a score of 88 and a premium of $31.
Smoking is a key determinant in life insurance premiums, as it presents higher health risks, leading to increased costs. Mutual of Omaha and Allstate's leading scores reflect their competitive offerings and financial stability, making them prime choices for individuals prioritizing affordability and customer satisfaction in their insurance selection.
| 1 | Mutual of Omaha | $44 | 90 |
| 2 | Nationwide | $44 | 89 |
| 3 | Allstate | $41 | 88 |
| 4 | Transamerica | $39 | 88 |
| 5 | Prudential | $35 | 88 |
| 6 | Protective | $68 | 87 |
| 7 | State Farm | $59 | 86 |
| 8 | AAA | $75 | 86 |
| 9 | Haven | $79 | 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.
MoneyGeek has identified Protective as the best term life insurance for young adults in Phoenix, with a MoneyGeek Score of 92 for women and 91 for men. The monthly premium is $10 for women and $13 for men. Age plays a factor in life insurance premiums as younger adults generally pay less due to lower health risks.
Protective stands out with the highest MoneyGeek score, making it a reliable choice for young adults seeking the best term life insurance for young adults in Phoenix. Protective's high scores in customer satisfaction and affordability contribute to its top ranking, offering a comprehensive package for those starting their life insurance journey.
| 1 | Protective | $13 | 91 |
| 2 | Mutual of Omaha | $13 | 91 |
| 3 | Nationwide | $12 | 91 |
| 4 | Transamerica | $14 | 87 |
| 5 | AAA | $20 | 86 |
| 6 | State Farm | $21 | 85 |
| 7 | Prudential | $17 | 85 |
| 8 | Haven | $17 | 84 |
| 9 | Allstate | $21 | 84 |
| 10 | Bestow | $23 | 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 men, Nationwide offers the best cheap term life insurance in Phoenix with a MoneyGeek score of 93 and a monthly premium of $18. For women, Protective is the top provider with a MoneyGeek score of 92 and a monthly premium of $17. Various factors influence the cost of life insurance premiums, including age, health, coverage amount, and term length.
To get the lowest premiums, maintain good health, avoid tobacco, and choose the right coverage amount and term length. The winning companies have the highest MoneyGeek scores due to their affordability, customer satisfaction, and financial stability.
| 1 | Nationwide | $18 | 93 |
| 2 | Mutual of Omaha | $19 | 91 |
| 3 | Protective | $21 | 90 |
| 4 | Transamerica | $21 | 89 |
| 5 | Prudential | $24 | 86 |
| 6 | AAA | $32 | 84 |
| 7 | Allstate | $32 | 83 |
| 8 | State Farm | $32 | 82 |
| 9 | Haven | $29 | 81 |
The average cost of term life insurance in Phoenix is $30 per month for women and $37 per month for men. These costs are rounded to the nearest whole number.
Several factors affect the cost of life insurance premiums. These include age, health, lifestyle choices, the amount of coverage, and the length of the policy term. Insurers assess these factors to determine the risk level and set the premium accordingly.
In Phoenix, the cost of life insurance might be higher or lower compared to the rest of Arizona due to various local factors. For instance, health statistics, crime rates, and the overall cost of living in Phoenix can impact premium rates.
Understanding these factors can help consumers make informed decisions when purchasing life insurance, ensuring they get the coverage they need at a price they can afford.
Mutual of Omaha has the best life insurance for men in Phoenix with a MoneyGeek score of 91. This score indicates a high level of customer satisfaction, financial stability, and overall value.
The monthly premium cost for the best life insurance for men in Phoenix, provided by Mutual of Omaha, is $40. This cost is based on a 20-year term policy with a coverage amount between $250,000 and $500,000.
Protective has the best life insurance for women in Phoenix with a MoneyGeek score of 92. This score reflects the company's excellent affordability, customer satisfaction, and financial stability.
The monthly premium cost for the best life insurance for women in Phoenix, offered by Protective, is $31. This premium is for a 20-year term policy with coverage between $250,000 and $500,000.
Life insurance in Phoenix is similar to the rest of Arizona in terms of policy options and premiums. However, Phoenix's larger population might offer more competition among insurers, potentially leading to better rates and more diverse policy options. Residents should compare options to find the best fit for their needs.
If a life insurance company goes bankrupt in Phoenix, state guaranty associations typically protect policyholders. These associations cover claims up to certain limits, ensuring that policyholders do not lose their coverage. It's important to check the specific limits and protections offered by Arizona's guaranty association.
Phoenix residents might need life insurance to provide financial security for their families in the event of their death. Life insurance can cover funeral expenses, pay off debts, and replace lost income. It can also help fund future expenses, such as children's education or a spouse's retirement.
To find a lost life insurance policy in Phoenix, residents can check with the Arizona Department of Insurance and Financial Institutions. They can also use online search tools like the National Association of Insurance Commissioners' Life Insurance Policy Locator. Contacting the deceased's financial advisor or attorney may also help locate a missing policy.
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.
