Updated: October 18, 2024
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If you have life insurance, you don't have to worry about how your family will be financially supported in the event of your unexpected death. To choose the best life insurance coverage in Chula Vista, it is advisable to shop around and compare costs from different insurers.
Based on your age, gender and smoking history, you can use MoneyGeek’s guide to find the ideal life insurance company in Chula Vista.
BestLife InsuranceChula Vista, CABest Life Insurance Companies in Chula Vista, CA, for 2023
Transamerica has the cheapest rates for $250K in coverage in Chula Vista, averaging $10 for men and $7 for women.
You can save money with a $250K policy, but this may not cover your loved one’s needs. Based on buyer profiles and state-specific factors, California recommends $1,130,000 in coverage.
For this amount, men and women in Chula Vista can get the best premiums from Transamerica for around $23 and $16, respectively.
Cheapest For | $250K Coverage | $1,130,000 Coverage (Recommended) |
|---|---|---|
Male | Transamerica | Transamerica |
Female | Transamerica | Transamerica |
Life insurance premiums are affected by the policy's face value and the policyholder's gender. Chula Vista women pay around 9% less for life insurance than the state average, while males pay about 8% more than the state average.
For a $250K policy, men in the city pay, on average, $18 per month compared to women's $14 monthly average.
In Chula Vista, the recommended $1,130,000 coverage policies (calculated based on per capita income from the U.S. Bureau of Economics, average age, average mortgage debt and personal debt) cost males around $47, while the average for women is $41.
Additionally, regardless of policy limits, men pay an average of $27 per month for a 10-year policy, while women pay an average of $23 per month.
| Transamerica | $10 | $23 |
| Nationwide | $13 | $25 |
| MassMutual | $12 | $28 |
| Mutual of Omaha | $13 | $29 |
| AAA | $14 | $32 |
| State Farm | $19 | $43 |
| Prudential | $31 | $57 |
| Progressive Life | $17 | $67 |
| Transamerica | $7 | $16 |
| Nationwide | $10 | $16 |
| Mutual of Omaha | $10 | $18 |
| MassMutual | $9 | $18 |
| Progressive Life | $11 | $44 |
| AAA | $15 | $45 |
| State Farm | $18 | $53 |
| Prudential | $17 | $66 |
Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Chula Vista using average buyer profile statistics, including the average age of 30, the average weight of 179 pounds for males and 142 pounds for females, and an average coverage need of $1,130,000.
Gender greatly affects life insurance costs. Women have longer life expectancies, according to the National Center for Health Statistics. This is because of factors like men working in dangerous environments. Insurers deem men high-risk and charge them higher premiums than women.
However, men make up the vast majority of life insurance policyholders. Women today contribute more to the household economy, whether they are sole breadwinners or stay-at-home moms. Consequently, they are excellent candidates for life insurance and are likely to be eligible for lower premiums because of their higher life expectancy.
According to the total average market share, New York Life (8%), Transamerica (7%) and Northwestern Mutual (5%) are California's three most popular life insurance providers. Based on our research, the seven most popular life insurance carriers in the state make up around 39% of the market.
The following table details the market shares held by the seven most popular life insurance firms in California.
| New York Life | 8% |
| Transamerica | 7% |
| Northwestern Mutual | 5% |
| Lincoln Financial | 5% |
| MassMutual | 4% |
| Pacific Life | 4% |
| Prudential | 4% |
Market share calculates a company’s sales revenue in comparison to other companies in the same sector. This suggests that a company with a substantial market share in the life insurance sector has outsold its competitors in terms of policy sales.
MoneyGeek analyzed 2020 S&P Global data reports to estimate market share data.
In Chula Vista, young people may get life insurance for around $18 to $29 per month. According to MoneyGeek's analysis, the following insurers provide the city's young people with the most affordable average life insurance premiums:
The table below allows you to compare the costs of life insurance for young adults offered in Chula Vista by various insurers.
| Transamerica | $18 |
| Mutual of Omaha | $20 |
| MassMutual | $20 |
| AAA | $23 |
| State Farm | $25 |
| Nationwide | $25 |
| Prudential | $25 |
| Progressive Life | $29 |
Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Chula Vista who is 5 feet 10 inches, 152 pounds and purchases a 20-year term contract at the average coverage need of $360,000. We chose a 20-year term to provide a longer coverage period for a younger buyer.
Young individuals 25 years of age and under often pay lower rates for life insurance. Your insurance premiums will increase as you become older and are more susceptible to illness. You can save a lot on insurance premiums if you purchase life insurance at a younger age.
Chula Vista's seniors can expect to spend anywhere from $41 to $94 per month for life insurance. MoneyGeek found that, on average, the following companies offer the most affordable life insurance quotes in Chula Vista for seniors:
The table below lists the top-rated and cheapest life insurance companies in Chula Vista for seniors.
| Transamerica | $41 |
| MassMutual | $44 |
| State Farm | $47 |
| Nationwide | $48 |
| AAA | $49 |
| Mutual of Omaha | $50 |
| Progressive Life | $74 |
| Prudential | $94 |
Rates were determined by analyzing quotes for a 60-year-old male non-smoker in Chula Vista who is 5 feet 10 inches, 179 pounds and purchases a 10-year term contract at the average coverage need of $107,000.
Since their policies will likely outlive them, seniors usually pay higher life insurance premiums. However, a policy with a lower face value than the average coverage might be sufficient for elderly buyers. This is because it is likely that their dependents will be grown up and be able to support themselves.
As a result, the proceeds of their policy are often used to cover their funeral costs or clear any outstanding debts. Accordingly, our sample insurance coverage for Chula Vista's elderly population has been set at $107,000, which is lower than the other profiles in our analysis.
Life insurance premiums for Chula Vista’s smokers average between $156 and $234 per month. According to MoneyGeek, the following are the cheapest average life insurance providers for smokers in the city:
You will find a listing of Chula Vista life insurance providers that are the best and cheapest for smokers below.
| Transamerica | $156 |
| Nationwide | $171 |
| State Farm | $185 |
| Mutual of Omaha | $190 |
| MassMutual | $190 |
| AAA | $200 |
| Prudential | $218 |
| Progressive Life | $234 |
Rates were determined by analyzing quotes for a 30-year-old male smoker in Chula Vista who is 5 feet 10 inches and 179 pounds that purchases a 20-year term contract at the average coverage need of $1,130,000. If you are a smoker, we suggest buying a longer-term (20-year) policy to provide longer coverage as rates for smokers increase dramatically as you age.
Smoking causes adverse effects on one's health. It's because of this that insurance companies view smokers as high-risk customers, and their rates are adjusted accordingly. Regardless, smokers can still get low-cost life insurance coverage. Life insurance premiums for smokers continue to rise as they become older, so MoneyGeek recommends smokers in the city opt for a 20-year term policy.
MoneyGeek determined the recommended life insurance coverage by factoring in per capita income from the U.S. Bureau of Economic Analysis, average mortgage debt, average personal debt and average age. Keep in mind that each buyer is unique and may need more or less coverage depending on their specific circumstances.
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.
