Best Life Insurance in Salem, OR (August 2024)
Updated: September 19, 2024
Advertising & Editorial Disclosure
Protective is the best life insurance company in Salem, Oregon, for both men and women. The MoneyGeek score for men is 92, and the monthly premium cost is $14. For women, the MoneyGeek score is also 92, and the monthly premium cost is $12.
Different factors should be considered when deciding on what type of life insurance to buy. These scores and premium costs are based on a 20-year term policy and $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 Salem, Oregon.
Coverage costs and company information for life insurance providers were updated in August 2024.
BestLife InsuranceSalem, ORBest Life Insurance Companies in Salem
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.
If you're looking for the best life insurance in Salem, Protective is the top choice for both men and women with a MoneyGeek score of 92 and an average monthly premium of $14 for men and $12 for women.
Top providers for men:
Top providers for women:
The company offers high MoneyGeek scores, indicating strong performance across multiple metrics like affordability, customer satisfaction and financial stability. This makes it a reliable option for the average individual looking to secure life insurance.
In Salem, Protective emerges as the leading choice for life insurance for both men and women, boasting a MoneyGeek score of 92. Women can secure a policy at approximately $12 monthly, while men can do so for about $14. Protective's exceptional customer satisfaction and affordability make it a standout in the market.
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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.
For those in Salem seeking the best term life insurance Protective stands out for both men and women, with a MoneyGeek score of 92 and monthly premiums of $7 for men and $7 for women.
The top two term life insurance companies for men are:
The top two term life insurance companies for women are:
Term life insurance offers a straightforward protection plan for a set period, which can be a cost-effective solution for those with temporary financial obligations or those seeking a simple, no-frills insurance option.
Protective stands out as the best term life insurance provider for women and men in Salem, with a MoneyGeek score of 92. Men and women seeking coverage can expect a monthly premium of $7, making it an affordable choice for financial security. Here's a straightforward 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 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 best provider of whole life insurance in Portland, with a MoneyGeek score of 92 for both men and women. This score reflects the company's commitment to affordability, customer satisfaction and financial stability.
Top whole life companies for men in Salem:
Top whole life companies for women in Salem:
Whole life insurance is a permanent policy that provides lifetime coverage with a fixed premium and a cash value component. It's a good option for those who want predictable costs and the ability to accumulate savings over time.
Protective stands out as the premier choice for the best whole life insurance in Salem for both men and women. With an impressive MoneyGeek score of 92 for each, the company demonstrates a strong balance of customer satisfaction and financial products. Consumers seeking a reliable insurance provider will find Protective's offerings compelling.
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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 Salem Protective offers the best universal life insurance. Protective's score indicates a strong combination of affordability, customer satisfaction, and financial stability, making it a compelling choice for the average individual looking for reliable universal life insurance coverage.
Best universal life insurance for men:
Best universal life insurance for women:
Universal life insurance offers flexible premiums and the potential for cash value growth, making it a versatile option for long-term financial planning. For instance, someone interested in estate planning might choose universal life insurance to ensure their beneficiaries are financially supported while also accumulating a cash value that can be accessed during their lifetime.
Protective emerges as the standout choice for the best universal life insurance in Salem, catering to both men and women with a stellar MoneyGeek score of 91. Reflecting a commitment to customer satisfaction and financial stability, Protective offers a robust insurance solution.
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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.
In Salem, Protective offers the best no-medical-exam life insurance for both men and women, with a MoneyGeek score of 91. This score reflects the company's strong performance across various metrics.
Best no-medical-exam life insurance for men:
Best life insurance for women that does not require a medical exam:
An individual might opt for the best no-medical exam-life insurance over traditional policies to save time and avoid the discomfort of having to deal with a medical exam.
Protective emerges as the leading provider of no-medical-exam life insurance in Salem, securing the highest MoneyGeek scores for both men and women at 91. This reflects their commitment to delivering exceptional value and service across the board.
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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 Salem, the best term life insurance for seniors is Protective. It earns a MoneyGeek score of 91 and has an average monthly premium of $31 for men and $29 for women. Age is a pivotal factor in determining life insurance premiums, with older individuals typically facing higher rates due to increased risk.
| 1 | CompanyProtective | Premium$31 | MG Score out of 10091 |
| 2 | CompanyMutual of Omaha | Premium$30 | MG Score out of 10091 |
| 3 | CompanyNationwide | Premium$36 | MG Score out of 10089 |
| 4 | CompanyAllstate | Premium$28 | MG Score out of 10089 |
| 5 | CompanyAAA | Premium$40 | MG Score out of 10087 |
| 6 | CompanyPrudential | Premium$35 | MG Score out of 10086 |
| 7 | CompanyState Farm | Premium$56 | MG Score out of 10084 |
| 8 | CompanyHaven | Premium$57 | MG Score out of 10082 |
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 Salem, Mutual of Omaha stands out for those seeking the best term life insurance for smokers. Its MoneyGeek score is 92 for men with a monthly premium of $31, and 91 for women with a premium of $30.
Smoking significantly impacts life insurance costs due to the heightened health risks it poses, leading to higher premiums for smokers compared to non-smokers.
| 1 | CompanyMutual of Omaha | Premium$31 | MG Score out of 10092 |
| 2 | CompanyNationwide | Premium$42 | MG Score out of 10088 |
| 3 | CompanyProtective | Premium$49 | MG Score out of 10088 |
| 4 | CompanyPrudential | Premium$31 | MG Score out of 10087 |
| 5 | CompanyState Farm | Premium$47 | MG Score out of 10085 |
| 6 | CompanyAllstate | Premium$46 | MG Score out of 10085 |
| 7 | CompanyAAA | Premium$59 | MG Score out of 10085 |
| 8 | CompanyHaven | Premium$54 | MG Score out of 10083 |
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 Salem, Protective stands out with a MoneyGeek score of 92 for both men and women. The average monthly premium for both is $4. Age plays a crucial role in determining life insurance premiums.
Younger adults benefit from lower premiums due to their lower risk profile. Protective achieves its top ranking due to its affordability, high customer satisfaction and solid financial stability.
| 1 | CompanyProtective | Premium$4 | MG Score out of 10092 |
| 2 | CompanyMutual of Omaha | Premium$5 | MG Score out of 10092 |
| 3 | CompanyNationwide | Premium$6 | MG Score out of 10090 |
| 4 | CompanyAAA | Premium$6 | MG Score out of 10089 |
| 5 | CompanyAllstate | Premium$4 | MG Score out of 10089 |
| 6 | CompanyState Farm | Premium$9 | MG Score out of 10087 |
| 7 | CompanyPrudential | Premium$7 | MG Score out of 10087 |
| 8 | CompanyHaven | Premium$6 | MG Score out of 10086 |
| 9 | CompanyBestow | Premium$21 | MG Score out of 10083 |
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.
In Salem, Protective offers the best cheap term life insurance for both men and women, boasting a MoneyGeek score of 92 and an average monthly premium of $7. When searching for the best cheap term life insurance, it's important to understand the factors influencing premiums.
Age, health, coverage amount and term length all play a role in determining costs. For Salem residents, choosing Protective means getting reliable coverage at a competitive rate, making it a top choice for those seeking value and peace of mind.
| 1 | CompanyProtective | Premium$7 | MG Score out of 10092 |
| 2 | CompanyMutual of Omaha | Premium$7 | MG Score out of 10092 |
| 3 | CompanyAllstate | Premium$7 | MG Score out of 10091 |
| 4 | CompanyNationwide | Premium$9 | MG Score out of 10089 |
| 5 | CompanyAAA | Premium$9 | MG Score out of 10088 |
| 6 | CompanyPrudential | Premium$10 | MG Score out of 10085 |
| 7 | CompanyHaven | Premium$11 | MG Score out of 10084 |
| 8 | CompanyState Farm | Premium$14 | MG Score out of 10082 |
The average monthly premium for term life insurance in Salem is $13 for women and $15 for men. Several factors can influence the cost of life insurance premiums, including age, health, lifestyle, occupation and the amount of coverage desired.
Each of these elements can significantly impact the final premium cost. For various reasons, the cost of life insurance in Salem might be higher or lower compared to the rest of Oregon. Local health statistics can play a role, as areas with higher health risks may see increased premiums.
Economic factors, such as the average income level and cost of living, can also influence insurance costs. Additionally, demographic trends, including the age distribution and lifestyle habits of the population, may affect premium rates. Understanding these factors can help consumers make more informed decisions when purchasing life insurance.
Protective has the best life insurance for men in Salem. The company tops the list with a MoneyGeek score of 92. This score reflects high customer satisfaction, financial stability and affordability
The monthly premium cost for the best life insurance for men in Salem is $14. Protective offers this rate for non-smoking men aged 31 to 40 with excellent health, providing a balance of affordability and coverage.
Protective is the best life insurance company for women in Salem. It scores 92 on the MoneyGeek scale.
The monthly premium cost for the best life insurance for women in Salem is $12. Protective offers this rate for non-smoking women aged 31 to 40 with excellent health, making it an affordable and reliable option.
Life insurance in Salem offers competitive rates and high customer satisfaction. For example, Protective's premiums are lower in Salem than in some other Oregon cities. This makes Salem a favorable location for affordable life insurance, especially for non-smokers in excellent health.
If a life insurance company goes bankrupt in Salem, your policy is usually protected by state guaranty associations. These associations cover claims up to a certain limit, ensuring policyholders are not left without coverage. It's essential to check the specific limits and protections offered in Oregon.
Salem residents might need life insurance to ensure financial security for their families. Life insurance can cover funeral expenses, pay off debts and provide income replacement.
To find a lost life insurance policy in Salem, start by checking with the deceased's financial advisors and employers. You can also contact the Oregon Insurance Division or use online resources like the National Association of Insurance Commissioners' Life Insurance Policy Locator.
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.
