Updated: November 21, 2024
Advertising & Editorial Disclosure
Protective is the best life insurance company in Newark, New Jersey, for both men and women. The MoneyGeek score for both men and women is 92 out of 100, with an average monthly premium of $37 for men and $29 for women.
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 Newark, New Jersey.
Coverage costs and company information for life insurance providers were updated in October 2024.
BestLife InsuranceNewark, NJBest Life Insurance Companies in Newark
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 Newark, Protective offers the best life insurance for both men and women, with a MoneyGeek score of 92 out of 100 and an average monthly premium of $16 for men and $13 for women.
Top providers for men:
Top providers for women:
Protective stands out due to its high customer satisfaction scores and competitive monthly premiums. It is a reliable choice for those looking to purchase life insurance in Newark.
In Newark, Protective stands out as the premier choice for life insurance for men and women with an impressive MoneyGeek score of 92. Monthly premiums are set at an average of $13 for women and $16 for men. Protective's commitment to excellence is reflected in its top rankings and competitive pricing, making it a go-to for life insurance needs in the area.
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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.
The best term life insurance in Newark for men and women is offered by Protective, with the same MoneyGeek score of 92.
The top term life insurance companies for men are:
The top term life insurance companies for women are:
Term life insurance is a policy that provides for a specific term length at a fixed premium. It's a safety net often chosen for its simplicity and affordability. For example, a parent might choose term insurance to ensure financial stability for their children until they become adults.
Protective is the premier choice for term life insurance in Newark for men and women, with a MoneyGeek score of 92. The score reflects a strong balance of cost and quality, with a monthly average premium of $7 for excellent health in the 31-40 age group.
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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.
In Newark, the best whole life insurance is Protective, with a MoneyGeek score of 92 for both men and women. Protective's high rank in affordability, customer satisfaction and financial stability makes it an optimal choice for comprehensive coverage and reliable service.
Top whole life companies for men and women in Newark:
Whole life insurance provides lifelong coverage and includes an investment component that can grow over time. Someone may choose whole life insurance to ensure their family's financial stability while building cash value that can be borrowed against in the future.
Protective offers premier whole life insurance in Newark for both men and women. Its MoneyGeek score of 92 reflects the company's commitment to delivering exceptional value and service.
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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.
Protective is the best universal life insurance for both men and women in Newark. It's a solid choice for those seeking affordability, customer satisfaction, financial stability and reliable coverage.
Best universal life insurance for men and women:
Universal life insurance offers flexibility in premiums and benefits for those seeking long-term financial planning tools. An individual might choose this life insurance for its potential cash value growth, which can be an additional resource for retirement or other financial goals.
Protective is the best universal life insurance provider for both men and women. Its MoneyGeek score of 91 is due to its commitment to customer satisfaction and affordability.
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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.
When it comes to the best life insurance with no mandatory medical exam in Newark, Protective stands out for both men and women, with a MoneyGeek score of 91.
Best no-medical-exam life insurance for men and women:
Life insurance that does not require a medical exam is a convenient option for those who prefer a quicker and less invasive process. For example, someone with a busy schedule or a fear of needles might opt for this type of policy.
Protective is the best choice for no-medical-exam life insurance in Newark for men and women, with a MoneyGeek score of 91. Its affordable coverage and commitment to customer satisfaction make it a reliable option.
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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.
The best term life insurance for seniors in Newark is Mutual of Omaha, with a MoneyGeek score of 92 for men and 91 for women and average monthly premiums of $36 and $31, respectively.
Age is a determining factor in life insurance premiums, with costs typically rising due to increased health risks as policyholders grow older. Mutual of Omaha's top scores reflect its balance of affordability, customer satisfaction and financial stability.
| 1 | Mutual of Omaha | $36 | 92 |
| 2 | Protective | $38 | 91 |
| 3 | Nationwide | $41 | 90 |
| 4 | AAA | $47 | 88 |
| 5 | Transamerica | $40 | 87 |
| 6 | Prudential | $41 | 87 |
| 7 | Allstate | $52 | 86 |
| 8 | Haven | $45 | 85 |
| 9 | State Farm | $68 | 84 |
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 the leading provider of the best term life insurance for smokers in Newark, with a MoneyGeek score of 92 for men and 90 for women. Its monthly premiums are $36 for men and $31 for women on average.
Smokers face higher premiums due to the increased health risks associated with tobacco use. For those in Newark, Mutual of Omaha provides a strong option for life insurance coverage that accommodates the specific needs of smokers.
| 1 | Mutual of Omaha | $36 | 91 |
| 2 | Allstate | $34 | 89 |
| 3 | Protective | $59 | 88 |
| 4 | AAA | $43 | 88 |
| 5 | Transamerica | $36 | 88 |
| 6 | Nationwide | $49 | 88 |
| 7 | Prudential | $35 | 87 |
| 8 | State Farm | $55 | 85 |
| 9 | Haven | $64 | 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.
The best term life insurance for young adults in Newark is offered by Protective, with a MoneyGeek score of 92 and average monthly premiums of $4 for women and $5 for men.
Age is crucial in determining life insurance premiums, with younger adults typically benefiting from lower costs. Choosing the best term life insurance is essential for securing financial protection at a reasonable cost, and Protective is a top choice for young adults seeking reliable and cost-effective insurance.
| 1 | Protective | $5 | 92 |
| 2 | Mutual of Omaha | $5 | 92 |
| 3 | Nationwide | $6 | 90 |
| 4 | AAA | $6 | 89 |
| 5 | Transamerica | $6 | 88 |
| 6 | Allstate | $8 | 88 |
| 7 | State Farm | $10 | 87 |
| 8 | Prudential | $8 | 87 |
| 9 | Haven | $8 | 86 |
| 10 | Bestow | $28 | 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.
Those seeking the best cheap term life insurance in Newark can choose Protective. It earned a MoneyGeek score of 92 and offers average monthly premiums of $7 for women and $8 for men.
Age, health, coverage amount and term length are a few factors that influence the cost of life insurance premiums. To secure low premiums, maintain a healthy lifestyle, avoid tobacco and choose a term length that fits your needs.
| 1 | Protective | $8 | 92 |
| 2 | Mutual of Omaha | $8 | 92 |
| 3 | Nationwide | $10 | 90 |
| 4 | Transamerica | $9 | 89 |
| 5 | AAA | $10 | 89 |
| 6 | Allstate | $13 | 85 |
| 7 | Prudential | $12 | 85 |
| 8 | Haven | $12 | 85 |
| 9 | State Farm | $17 | 82 |
The average monthly premiums for term life insurance in Newark is $14 for women and $17 for men, but they can vary based on individual circumstances.
Key influences affecting life insurance premiums' cost include age, health, lifestyle and occupation. For instance, younger and healthier individuals typically pay lower premiums, while those with risky occupations or lifestyles may face higher costs.
The cost of life insurance in Newark might be higher or lower compared to the rest of New Jersey due to several local factors, such as health statistics, crime rates and economic conditions. Areas with higher crime rates or poorer health outcomes may see higher premiums, but strong local economies help keep costs down.
Understand the local context and consider personal circumstances to navigate the life insurance market better.
Protective has the best life insurance for men in Newark. It offers a high MoneyGeek score of 92, making it the top choice. This score reflects its affordability, customer satisfaction, financial stability and product diversity.
The monthly premium cost for the best life insurance for men in Newark is $16. This cost is based on a 31-40 age group with excellent health, non-tobacco use and a coverage term of 20 years.
Protective has the best life insurance for women in Newark. It also holds the highest MoneyGeek score of 92, making it the top choice for women. This score is based on multiple factors including affordability and customer satisfaction.
The monthly premium cost for the best life insurance for women in Newark is $13. This cost applies to women aged 31-40 with excellent health, non-tobacco use and a coverage term of 20 years.
Life insurance in Newark is similar to the rest of New Jersey in terms of coverage options and costs. Protective offers the best life insurance in both Newark and the state overall. Premiums and coverage terms are consistent across locations.
If a life insurance company goes bankrupt in Newark, state guaranty associations protect policyholders. They ensure that life insurance policies are honored up to certain limits, providing financial security even if the company fails.
Newark residents need life insurance to provide financial security for their families. It can cover funeral costs, pay off debts and replace lost income. Life insurance ensures that loved ones are not burdened with financial hardships after a death.
To find a lost life insurance policy in Newark, contact the insurance company directly. If that fails, use state resources like the New Jersey Department of Banking and Insurance, which can help locate missing 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.
