Updated: November 22, 2024
Advertising & Editorial Disclosure
Protective is the best life insurance company in Waco, Texas, with MoneyGeek scores of 91 for men and 92 for women and average monthly premiums of $35 and $26, respectively. These figures are based on a 20-year term policy with $500,000 coverage.
Factors such as age, health rating and term length can influence your life insurance choice. While Protective scores highly in these areas, 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 Waco, Texas.
We updated life insurance providers' coverage costs and company information in October 2024.
BestLife InsuranceWaco, TXBest Life Insurance Companies in Waco
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 offers the best life insurance in Waco, with MoneyGeek scores of 91 for men and 92 for women. The average monthly premiums are $35 for males and $26 for females.
Top providers for men:
Top providers for women:
Protective's high MoneyGeek scores and affordable premiums make it a reliable and cost-effective option.
Protective is Waco's top life insurance provider, with MoneyGeek scores of 91 for men and 92 for women and monthly premiums of $35 and $26, respectively.
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.
Mutual of Omaha is the best term life insurance provider for men in Waco, with a MoneyGeek score of 91 and an average monthly premium of $17. For women, Protective leads with a score of 92 at $14 monthly. These providers offer a balance of affordability, customer satisfaction and financial stability.
Top term life insurance companies for men:
Top term life insurance companies for women:
Term life insurance is an affordable way to ensure financial responsibilities, like a mortgage or education, are covered in case of an untimely death. It suits those who need coverage that aligns with the years they'll be paying off significant debts.
Mutual of Omaha is the top term life insurance provider for men in Waco, with a MoneyGeek score of 91 and a monthly premium of $17. It offers a balance of cost and quality coverage.
Pros:
Cons:
Protective is the top choice for women seeking term life insurance in Waco, earning a MoneyGeek score of 92. With a monthly premium of around $14, the company balances affordability and quality.
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.
Protective is Waco's best whole life insurance provider, with a MoneyGeek score of 92 for men and women. This score indicates the company's excellence in affordability, customer satisfaction and financial stability.
Whole life insurance is a type of permanent policy that provides coverage for the insured's entire life. One might opt for it to ensure lifelong protection and to accumulate cash value, which can serve as a financial resource in the future.
Protective is Waco's leading whole life insurance company, with a MoneyGeek score of 92 for men and women. It ensures comprehensive coverage and peace of mind for its policyholders.
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.
Protective has Waco's best universal life insurance, with a MoneyGeek score of 91 for men and women. Its high score reflects a strong balance of affordability and customer satisfaction.
Universal life insurance is a type of permanent policy that offers adjustable premiums and an investment savings element. Some might choose it over term life insurance for the potential to accumulate cash value that can be used later in life, whether for retirement, education or other financial goals.
Protective is Waco's leading universal life insurance provider, with a MoneyGeek score of 91 for men and women. This score reflects the company's commitment to customer satisfaction and value.
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.
In Waco, Protective offers the best life insurance without a medical exam requirement. Its MoneyGeek score of 91 for men and women indicates strong customer satisfaction, financial stability and product diversity.
Life insurance with no mandatory medical exam provides coverage without a health checkup, benefiting those who need quick coverage or have health issues that could affect their insurability. Someone with a chronic condition may choose this option to secure a policy without the risk of denial based on their medical history.
Protective is the top choice for life insurance without the hassle of a medical examination in Waco. Its MoneyGeek score of 91 for men and women reflects the company's dedication 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 older men seeking the best term life insurance for seniors in Waco, Mutual of Omaha stands out with a MoneyGeek score of 91 and an average monthly premium of $68. Protective is the top choice for women, scoring 92 and charging $61 monthly.
Premiums rise as people reach their senior years because of increased health risks. Mutual of Omaha's and Protective's high MoneyGeek scores reflect a balance of cost, customer satisfaction and financial stability.
| 1 | Mutual of Omaha | $68 | 91 |
| 2 | Nationwide | $56 | 91 |
| 3 | Protective | $74 | 90 |
| 4 | Prudential | $68 | 86 |
| 5 | Transamerica | $78 | 86 |
| 6 | Allstate | $92 | 86 |
| 7 | AAA | $108 | 85 |
| 8 | State Farm | $102 | 85 |
| 9 | Haven | $125 | 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 Waco, Mutual of Omaha stands out with a MoneyGeek score of 91 and an average monthly premium of $38. Women will find Allstate as the top option, scoring 89 with a monthly premium of $27.
Smoking raises life insurance costs due to added health risks, which insurers factor into premiums. Mutual of Omaha's top position for men reflects its strong financial stability and customer satisfaction, while Allstate's lead for women indicates a good balance of affordability and product offerings.
| 1 | Mutual of Omaha | $38 | 91 |
| 2 | Nationwide | $35 | 90 |
| 3 | Allstate | $34 | 88 |
| 4 | Transamerica | $34 | 88 |
| 5 | Protective | $53 | 88 |
| 6 | Prudential | $32 | 88 |
| 7 | State Farm | $50 | 85 |
| 8 | AAA | $61 | 85 |
| 9 | Haven | $61 | 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.
Protective offers the best term life insurance for young adults in Waco, with a MoneyGeek score of 92 and average monthly premiums of $11 for men and $9 for women.
Age significantly influences life insurance premiums, with younger adults typically benefiting from lower costs. Protective's high score reflects its affordability, high customer satisfaction and financial stability.
| 1 | Protective | $11 | 92 |
| 2 | Mutual of Omaha | $10 | 91 |
| 3 | Nationwide | $10 | 91 |
| 4 | Transamerica | $12 | 87 |
| 5 | AAA | $16 | 85 |
| 6 | Prudential | $14 | 85 |
| 7 | State Farm | $17 | 85 |
| 8 | Allstate | $17 | 85 |
| 9 | Haven | $14 | 84 |
| 10 | Bestow | $18 | 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 the best cheap term life insurance in Waco, Nationwide leads for men with a MoneyGeek score of 93 and an average monthly premium of $15. Protective is the top option for women, with a MoneyGeek score of 92 at $14 monthly.
Factors like age, health and coverage amount significantly impact premiums. To get the lowest rates, maintain excellent health and choose a shorter term length.
| 1 | Nationwide | $15 | 93 |
| 2 | Mutual of Omaha | $17 | 91 |
| 3 | Protective | $17 | 91 |
| 4 | Transamerica | $19 | 88 |
| 5 | Prudential | $20 | 86 |
| 6 | AAA | $26 | 84 |
| 7 | Allstate | $26 | 84 |
| 8 | State Farm | $27 | 82 |
| 9 | Haven | $24 | 82 |
The average monthly premiums for term life insurance in Waco are $31 for men and $27 for women. Several factors affect costs, including age, health, lifestyle, policy term and coverage amount.
Life insurance costs in Waco may differ from those in the rest of Texas due to local health statistics, lifestyle factors and regional economic conditions. For example, if Waco has higher rates of certain health conditions, this could lead to higher premiums.
Understanding these factors can help you make informed decisions on life insurance.
Protective offers the best life insurance for men in Waco, with the highest MoneyGeek score of 91 out of 100.
The average monthly premium for the best life insurance for men in Waco is $35.
Protective has the best life insurance for women in Waco, with a MoneyGeek score of 92 out of 100.
The average monthly premium for the best life insurance for women in Waco is $26.
Life insurance in Waco is generally similar to the rest of Texas. Protective is a top choice statewide, recognized for its strong customer satisfaction and financial stability. The main difference may be in premiums, which can vary slightly based on location and demographic factors.
If a life insurance company in Waco goes bankrupt, state guaranty associations ensure that policyholders receive coverage up to certain limits, providing a safety net.
Waco residents might need life insurance for various reasons, including financial security for their families, covering debts and ensuring their loved ones are protected. It can also be part of a broader financial planning strategy.
To find a lost life insurance policy in Waco, check personal records and contact the insurance company directly. You can also use online tools and databases to locate lost policies. Keep thorough records to avoid this issue.
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.
