Best Life Insurance in Springfield, IL (November 2024)

In Springfield, Illinois, Protective is the best life insurance provider for both men and women. The company has a MoneyGeek score of 92 for both genders, with a monthly premium of $24. These scores and premium costs are based on a 20-year term policy and $500,000 coverage.

When deciding on life insurance, consider various factors such as coverage amount, term length, and your unique needs. While Protective ranks highest in our analysis, your specific requirements may lead you to a different provider.

Protective offers the best life insurance in Springfield for men and women, with a MoneyGeek score of 92 out of 100 and a monthly premium of $24.

The top providers for men are:

• Protective: MoneyGeek score of 92 out of 100 at $24 per month for men
• Mutual of Omaha: MoneyGeek score of 91 out of 100 at $27 per month for men

The top providers for women are:

• Protective: MoneyGeek score of 92 out of 100 at $24 per month for women
• Mutual of Omaha: MoneyGeek score of 91 out of 100 at $27 per month for women

Protective stands out for its high MoneyGeek score and affordable premiums, making it a great choice for the average individual looking to purchase life insurance in Springfield.

In Springfield, Protective stands out with the best term life insurance for both men and women. The company boasts a MoneyGeek score of 68 for men at a monthly premium of $12, and a score of 67 for women at $13 per month. Protective's high scores reflect its balance of affordability, customer satisfaction, and financial stability.

The top providers for men are:

• Protective: MoneyGeek score of 68 out of 100 at $12 per month for men
• Mutual of Omaha: MoneyGeek score of 63 out of 100 at $14 per month for men

The top providers for women are:

• Protective: MoneyGeek score of 67 out of 100 at $13 per month for women
• Mutual of Omaha: MoneyGeek score of 62 out of 100 at $16 per month for women

Term life insurance is a policy that provides coverage at a fixed rate of payments for a limited period, known as the term. For example, if someone has a mortgage that they want to ensure is paid off in the event of their untimely death, a term policy could be the perfect solution at a lower cost compared to whole life insurance.

Protective provides the best whole life insurance in Springfield for men and women, with a MoneyGeek score of 92. This score reflects a combination of affordability, customer satisfaction and financial stability, making Protective a solid choice for the average individual seeking a reliable life insurance policy.

The top providers for men are:

• Protective: MoneyGeek score of 92 out of 100 for men
• Mutual of Omaha: MoneyGeek score of 91 out of 100 for men

The top providers for women are:

• Protective: MoneyGeek score of 92 out of 100 for women
• Mutual of Omaha: MoneyGeek score of 91 out of 100 for women

Whole life insurance is a type of permanent life insurance that offers lifelong coverage and includes an investment component known as cash value. For example, an individual might opt for this insurance over term life insurance to secure a fixed premium and death benefit while also accumulating cash value that can be borrowed against in the future.

In Springfield, Protective stands out as the provider of the best universal life insurance for men and women, with a MoneyGeek score of 91. This score indicates that Protective offers competitive pricing, strong customer satisfaction and financial stability.

The top providers for men are:

• Protective: MoneyGeek score of 91 out of 100 for men
• Mutual of Omaha: MoneyGeek score of 90 out of 100 for men

The top providers for women are:

• Protective: MoneyGeek score of 91 out of 100 for women
• Mutual of Omaha: MoneyGeek score of 90 out of 100 for women

Universal life insurance is a flexible policy that allows policyholders to adjust their premiums and death benefits. It can be a suitable option for someone who desires long-term coverage with the potential for cash value accumulation. For example, a young professional might choose universal life insurance to secure a low-cost death benefit while also investing in their financial future.

In Springfield, Protective stands out as the best life insurance with no mandatory medical exam for men and women, with a MoneyGeek score of 91. This top rating indicates a strong balance of affordability, customer satisfaction, financial stability and product diversity.

The top providers for men are:

• Protective: MoneyGeek score of 91 out of 100 for men
• Mutual of Omaha: MoneyGeek score of 90 out of 100 for men

The top providers for women are:

• Protective: MoneyGeek score of 91 out of 100 for women
• Mutual of Omaha: MoneyGeek score of 90 out of 100 for women

Life insurance without a required medical exam is ideal for those who prefer a quicker application process or have health issues that might make traditional insurance costly or difficult to obtain. For instance, a busy professional with a tight schedule may choose this insurance to secure coverage promptly without the time commitment of a medical check-up.

Protective stands out as the provider of the best term life insurance for seniors in Springfield, with a MoneyGeek score of 92 for men and 91 for women. Men can expect a monthly premium of $52, while women's premiums are at $57.

Age is a determining factor in life insurance costs; as the risk of insuring an individual increases with age, so do the premiums. Protective's top score reflects its excellence in customer satisfaction, financial stability, and product diversity, making it a reliable choice for seniors who prioritize these aspects in their insurance selection.

In Springfield, Mutual of Omaha stands out as the best term life insurance for smokers, scoring a MoneyGeek score of 90 for men with a monthly premium of $57, and 88 for women with a monthly premium of $66. Smoking is a factor in life insurance because it increases health risks, which in turn raises premiums.

Mutual of Omaha achieves the highest MoneyGeek score due to its strong performance across affordability, customer satisfaction, financial stability and product diversity. This indicates a balance of cost-effectiveness and quality service.

Protective offers the best term life insurance for young adults in Springfield, with a MoneyGeek score of 92 and a monthly premium of $68. Age significantly impacts life insurance premiums, with younger adults generally benefiting from lower rates. Protective's high MoneyGeek score is attributed to its strong customer satisfaction, affordability and financial stability.

For men, Protective maintains a MoneyGeek score of 92 with a $68 monthly premium. Similarly, for women, Protective provides the same score and premium. Choosing a provider with a high MoneyGeek score ensures that you receive a balanced combination of affordability, customer satisfaction and financial stability.

For the best cheap term life insurance in Springfield, Protective stands out with a MoneyGeek Score of 92 and monthly premiums of $12 for men and $13 for women. Various factors influence life insurance premiums, including age, health, coverage amount, and term length.

To get the lowest premiums possible, maintain a healthy lifestyle, opt for a shorter term and choose a lower coverage amount if feasible. Protective's high score is attributed to its affordability, customer satisfaction and financial stability.

The average monthly premium for term life insurance in Springfield is $23 for women and $24 for men. Many factors affect the cost of life insurance premiums. These include age, health, lifestyle and the amount of coverage. Insurers also consider occupational risks and family medical history.

The cost of life insurance in Springfield might be different from the rest of Illinois due to local factors. Springfield's demographics, economic conditions, and healthcare access can impact premium rates. Understanding these factors can help you make informed decisions about your life insurance options.