Updated: December 21, 2024
Advertising & Editorial Disclosure
In Rochester, Minnesota, Protective is the best life insurance company for both men and women, holding a high MoneyGeek score of 92. The monthly premium for women is $25 on average, while it's $30 for men.
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 Rochester, Minnesota.
Coverage costs and company information for life insurance providers were updated in October 2024.
BestLife InsuranceRochester, MNBest Life Insurance Companies in Rochester
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 Rochester, Protective offers the best life insurance for both men and women, with a MoneyGeek score of 92 out of 100. The monthly premium is around $30 for men and $25 for women.
Top providers for men:
Top providers for women:
Consumers can trust Protective to offer a good balance of affordability, customer satisfaction and financial stability.
In Rochester, Protective is the premier choice for life insurance for men and women. With a MoneyGeek score of 92 and monthly premiums of around $25 for women and $30 for men, it demonstrates affordability and reliability.
Pros:
Cons:
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 Rochester, with a MoneyGeek score of 92 and average monthly premiums of $15 for men and $14 for women. This company stands out for its excellent customer satisfaction and financial stability.
The top two term life insurance companies for men are:
For women, the top two are:
Term life insurance is a policy that covers a specified term and offers a death benefit if the insured passes away during the term. It's often chosen for its simplicity and lower cost than permanent life insurance. For example, a parent might opt for term life insurance to fund their child's education should anything happen to them.
Protective stands out as the leading term life insurance provider for men and women in Rochester, with an impressive MoneyGeek score of 92. Men seeking reliable coverage can expect a monthly premium of $15, while women may pay $14.
Pros:
Cons:
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.
For both men and women seeking the best whole life insurance in Rochester, Protective is the leading choice with a MoneyGeek score of 92. It offers a balance of affordability, customer satisfaction and financial stability.
Top whole life companies in Rochester:
Whole life insurance offers lifelong coverage and includes an investment component that can grow over time. Someone might choose whole life insurance to ensure their family's financial stability while also building cash value that they can borrow against in the future.
Protective stands as the leading provider of whole life insurance in Rochester for men and women, with a MoneyGeek score of 92. This score reflects its strong performance across several key areas.
Pros:
Cons:
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.
The best universal life insurance in Rochester is Protective, with a MoneyGeek score of 91 out of 100. This score reflects Protective's well-rounded policy that effectively meets various consumer needs.
Best universal life insurance companies:
Universal life insurance offers flexible premiums, a death benefit and the potential to build cash value over time. For instance, someone who wants to adjust their premiums and coverage as their financial situation changes might opt for universal life insurance over more rigid policies, providing security and flexibility.
Protective offers the best universal life insurance in Rochester. With a MoneyGeek score of 91, Protective ensures top-notch service with unmatched value for both men and women.
Pros:
Cons:
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 Rochester for men and women, with a MoneyGeek score of 91. Residents seeking life insurance with no mandatory medical exams may find Protective's offerings align well with their needs for comprehensive coverage.
Best no-medical-exam life insurance companies:
Life insurance without a required medical exam allows individuals to obtain coverage quickly. This can be particularly beneficial for those who need immediate coverage or have health issues that could complicate a traditional application process. For instance, someone with a chronic condition might opt for no-medical-exam insurance to avoid being denied or facing higher premiums.
In Rochester, Protective has the best life insurance without a required medical exam for both men and women, boasting a MoneyGeek score of 91. Its high marks reflect a commitment to customer satisfaction and financial stability.
Pros:
Cons:
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 looking for the best term life insurance for seniors in Rochester, Protective stands out for both men and women. It received a MoneyGeek score of 92 for men with a monthly premium of about $66 and a score of 91 for women with a premium of $61.
Age is a factor in life insurance premiums; as individuals age, the risk to insurers increases, often leading to higher costs. Protective's high scores indicate a balance of cost-effectiveness, customer satisfaction and financial stability.
| 1 | Protective | $66 | 92 |
| 2 | Mutual of Omaha | $74 | 91 |
| 3 | Nationwide | $68 | 90 |
| 4 | Allstate | $71 | 88 |
| 5 | AAA | $86 | 88 |
| 6 | Prudential | $62 | 88 |
| 7 | Transamerica | $80 | 87 |
| 8 | State Farm | $128 | 84 |
| 9 | Haven | $128 | 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.
Mutual of Omaha is for men seeking the best term life insurance for smokers in Rochester, with a MoneyGeek score of 91 and an average monthly premium of $40. Women could fare best with Allstate, earning a score of 89 and a monthly cost of approximately $30.
Smoking significantly affects life insurance premiums due to the health risks it poses, often leading to higher rates for smokers than nonsmokers. Mutual of Omaha and Allstate's top scores reflect their commitment to providing valuable coverage at competitive prices. This information is crucial for smokers who need a reliable policy that can accommodate their circumstances without compromising quality or cost.
| 1 | Mutual of Omaha | $72 | 90 |
| 2 | Nationwide | $76 | 89 |
| 3 | Protective | $98 | 88 |
| 4 | Prudential | $55 | 88 |
| 5 | Transamerica | $69 | 87 |
| 6 | State Farm | $92 | 86 |
| 7 | AAA | $123 | 85 |
| 8 | Allstate | $114 | 85 |
| 9 | Haven | $117 | 83 |
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.
In Rochester, Protective offers the best term life insurance for young adults. It got a MoneyGeek score of 92, with average monthly premiums of $9 for men and $8 for women.
Age is crucial in determining life insurance premiums, with younger adults typically benefiting from lower rates. Choosing a reliable term life insurance is essential for securing financial protection at a reasonable cost.
| 1 | Protective | $9 | 92 |
| 2 | Mutual of Omaha | $11 | 91 |
| 3 | Nationwide | $11 | 89 |
| 4 | AAA | $12 | 88 |
| 5 | Allstate | $11 | 88 |
| 6 | Transamerica | $12 | 87 |
| 7 | Prudential | $12 | 86 |
| 8 | Haven | $13 | 85 |
| 9 | State Farm | $21 | 84 |
| 10 | Bestow | $19 | 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 those seeking the best cheap term life insurance in Rochester, Protective is at the top with a MoneyGeek score of 92 and average monthly premiums of $14 for men and $14 for women.
Factors such as age, health, coverage amount and term length affect life insurance costs. To get the lowest premiums, maintain good health, choose a shorter term and opt for a lower coverage amount.
| 1 | Protective | $15 | 92 |
| 2 | Nationwide | $18 | 91 |
| 3 | Mutual of Omaha | $18 | 90 |
| 4 | Allstate | $18 | 89 |
| 5 | AAA | $20 | 88 |
| 6 | Transamerica | $19 | 88 |
| 7 | Prudential | $19 | 88 |
| 8 | Haven | $24 | 84 |
| 9 | State Farm | $33 | 82 |
The average monthly premium for term life insurance in Rochester, Minnesota, is $29 for women and $33 for men.
Many factors affect life insurance premiums, including age, health, lifestyle and the amount of coverage you choose. Insurers assess these factors to determine the risk for them by insuring you.
The cost of life insurance in Rochester might differ from the rest of Minnesota due to local lifestyle trends, economic conditions, specific regional risk factors and other reasons. For example, premiums might be higher if a region has higher health care costs or a higher case of certain health conditions. Conversely, areas with lower living costs or better overall health statistics might see lower premiums.
Always consider your circumstances and the specific conditions of your area when evaluating your options.
Protective has the best life insurance in Rochester for men. The company achieved the highest MoneyGeek score.
The average monthly premium for the best life insurance for men in Rochester is $30, offered by Protective.
Protective has the best life insurance in Rochester for women. It received the highest MoneyGeek score.
The average monthly premium for the best life insurance for women in Rochester is $25, offered by Protective.
Life insurance in Rochester might differ from the rest of Minnesota in terms of company preferences and premium costs. For instance, Protective has the highest MoneyGeek score for both men and women in Rochester, but this may not be the case in other cities. Additionally, Rochester's specific demographics and health statistics could influence insurance offerings and rates.
State guaranty associations typically protect policyholders if a life insurance company goes bankrupt in Rochester. These associations may cover claims up to certain limits, ensuring that policyholders do not lose their coverage entirely. It's important to check with the Minnesota Life and Health Insurance Guaranty Association for specific coverage limits.
Rochester residents might need life insurance to provide financial security for their families in case of unexpected death. Life insurance can cover expenses such as mortgage payments, education costs and daily living expenses. Additionally, residents working in high-risk occupations or with significant debts may find life insurance particularly beneficial.
To find a lost life insurance policy in Rochester, check personal records and contact the deceased's financial advisors or attorneys. You can also reach out to the insurance company directly. If these steps fail, the National Association of Insurance Commissioners (NAIC) offers a Life Insurance Policy Locator Service to help locate lost 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.
