Life insurance protects your loved ones from financial hardship in the event of your death.
MoneyGeek’s comparison of life insurance companies in and around Sunrise Manor, Nevada, can help you choose the most affordable policy for your needs.
Best Life Insurance Companies in Sunrise Manor, NV, for 2024
Updated: October 18, 2024
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BestLife InsuranceSunrise ManorBest Life Insurance Companies in Sunrise Manor, NV, for 2023
Most Popular in Nevada - New York Life
Best for Young People - Transamerica
Best for Smokers - Transamerica
Best Cheap Life Insurance in Sunrise Manor
MassMutual offers the cheapest policy for men living in Sunrise Manor who want $250K of life insurance coverage, at about $10 per month. A woman, meanwhile, can get the same amount of coverage from the same provider for $8 per month.
However, Nevada recommends life insurance coverage of $788K, based on factors such as per capita income and average mortgage debt. This coverage amount from MassMutual will cost male buyers about $19 per month and female buyers $13 per month.
Cheapest Life Insurance Companies for Males and Females in Sunrise Manor
Cheapest For | $250K Coverage | $788K Coverage (Recommended) |
|---|---|---|
Male | MassMutual | MassMutual |
Female | MassMutual | Nationwide |
Life Insurance Costs in Sunrise Manor for Men and Women
MoneyGeek’s research revealed that people living in Sunrise Manor pay less for life insurance than the average Nevada resident. Men generally pay 10% less and women 20% less.
The gap in insurance costs between men and women is significant because gender plays a big role in determining rates. The average man in the city pays about $17 for a policy with $250K of coverage, while the average woman spends $13 for the same plan.
On average, Nevada residents need $788K in life insurance, taking into account the per capita income from the U.S. Bureau of Economic Analysis, average debt and average age. Men pay about $39 for this coverage, and women pay about $29 monthly.
Additionally, men pay approximately $24 per month for a 10-year term policy regardless of the coverage limit, while women pay about $18.
Average Monthly Life Insurance Rates in Sunrise Manor: Men
| MassMutual | $10 | $19 |
| Nationwide | $11 | $19 |
| Mutual of Omaha | $11 | $20 |
| Transamerica | $10 | $23 |
| AAA | $15 | $34 |
| State Farm | $19 | $40 |
| Progressive Life | $15 | $53 |
| Prudential | $27 | $55 |
Average Monthly Life Insurance Rates in XXXX: Women
| Nationwide | $8 | $13 |
| MassMutual | $8 | $13 |
| Mutual of Omaha | $9 | $13 |
| Transamerica | $10 | $24 |
| State Farm | $16 | $30 |
| Progressive Life | $15 | $33 |
| AAA | $13 | $33 |
| Prudential | $15 | $37 |
Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Sunrise Manor using average buyer profile statistics, including the average age of 30, the average weight of 194 pounds for males and 153 pounds for females, and an average coverage need of $788,000.
LIFE INSURANCE OFTEN COSTS LESS FOR WOMEN
Life insurance companies typically charge women less than men because women tend to live longer. Men have a higher chance of developing diseases that can shorten their lives.
It makes sense, then, that men are more likely to purchase life insurance. However, women also bring home the bacon and are good candidates for life insurance products, which can provide financial security for their families.
Most Popular Life Insurance Companies in Nevada
Nevada’s three most popular life insurance companies are Prudential Financial Inc., New York Life and Lincoln Financial. Prudential Financial Inc. and New York Life each hold 6% of the state’s market share, while Lincoln Financial has a 5% share.
The table below lists Nevada’s top seven life insurance companies, along with their market shares. Combined, they make up 35% of the state's life insurance market.
Most Popular Life Insurance Companies in Nevada
| New York Life | 6% |
| Prudential | 6% |
| Lincoln Financial | 5% |
| Northwestern Mutual | 5% |
| Transamerica | 4% |
| State Farm | 4% |
| Pacific Life | 4% |
MONEYGEEK DICTIONARY
In business, market share is an indicator of how much of the market a company dominates in comparison to other companies in the same industry. In the life insurance business, a company with a high market share has sold more policies than its competitors.
MoneyGeek used S&P Global Market Intelligence's 2020 report to determine which life insurance companies in Nevada are most popular with consumers.
Cheapest Life Insurance for Young People in Sunrise Manor
It’s best to purchase life insurance while you’re young. Young adults in Sunrise Manor, Nevada, may expect to pay between $12 and $21 per month for life insurance. MoneyGeek identified Sunrise Manor's two most cost-effective life insurance companies for young people:
- Transamerica: $12 per month
- Mutual of Omaha: $14 per month
See other life insurance providers in Montgomery with their monthly prices below.
Best Life Insurance Companies for Young People in Sunrise Manor, NV
| Transamerica | $12 |
| Mutual of Omaha | $14 |
| MassMutual | $14 |
| AAA | $15 |
| Prudential | $16 |
| Nationwide | $17 |
| State Farm | $17 |
| Progressive Life | $21 |
MoneyGeek analyzed quotes for a 25-year-old male non-smoker in Sunrise Manor who is 5 feet 10 inches and 165 pounds with a 20-year term contract at the average coverage need of $270K. We chose a 20-year term to provide a longer coverage period for a younger buyer.
LIFE INSURANCE IS CHEAPER FOR YOUNG PEOPLE
Younger adults pay cheaper life insurance rates because they’re less prone to age-related diseases. However, premiums do increase over time. MoneyGeek recommends buying the best life insurance in Sunrise Manor at an early age to save money.
Cheapest Life Insurance for Seniors in Sunrise Manor
Senior citizens’ life insurance premiums in Sunrise Manor vary from $35 to $72 per month. MoneyGeek identified the two insurance companies that charge seniors the lowest rates as:
- MassMutual: $35 per month
- Mutual of Omaha: $39 per month
Check the table below to view more life insurance companies charging the lowest premiums for seniors living in Sunrise Manor.
Best Life Insurance Companies for Seniors in Sunrise Manor, NV
| MassMutual | $35 |
| Mutual of Omaha | $39 |
| Nationwide | $40 |
| State Farm | $42 |
| AAA | $52 |
| Progressive Life | $63 |
| Transamerica | $70 |
| Prudential | $72 |
MoneyGeek analyzed quotes for a 60-year-old male non-smoker in Sunrise Manor who is 5 feet 10 inches and 194 pounds and purchases a 10-year term contract at the average coverage need of $80K.
LIFE INSURANCE COSTS MORE FOR SENIORS
You may wonder why seniors are viewed as higher-risk customers in the insurance industry and are charged higher premiums. The general reason is their policies are expected to outlive them. Most seniors do well with less insurance coverage because their adult children are no longer financially reliant on them. Insurance policies for seniors should primarily cover burial expenses and other death-related costs.
Cheapest Life Insurance for Smokers in Sunrise Manor
Smokers should expect to pay between $97 and $220 per month for life insurance in Sunrise Manor, Nevada. According to MoneyGeek’s research, Sunrise Manor's most affordable life insurance companies for smokers are:
- Transamerica: $97 per month
- MassMutual: $116 per month
Scan the table below to learn which other insurers in this area offer affordable policies to smokers.
Best Life Insurance Companies for Smokers in Sunrise Manor, NV
| Transamerica | $97 |
| MassMutual | $116 |
| State Farm | $119 |
| Nationwide | $125 |
| Mutual of Omaha | $128 |
| Prudential | $145 |
| Progressive Life | $186 |
| AAA | $220 |
MoneyGeek analyzed quotes for a 30-year-old male smoker in Sunrise Manor who is 5 feet 10 inches and 194 pounds and purchases a 20-year term contract at the average coverage need of $788K.
If you are a smoker, we suggest buying a longer-term (20-year) policy, as rates for smokers dramatically increase as you age.
LIFE INSURANCE IS VERY EXPENSIVE FOR SMOKERS
Because smokers are more likely to develop conditions that shorten life expectancy, life insurance companies view them as high-risk. As a result, smokers often pay higher insurance premiums. Fortunately, smokers have access to several low-cost life insurance options. If you smoke, you might want to explore affordable smoker-specific life insurance.
Methodology
MoneyGeek determined the recommended life insurance coverage by factoring in per capita income from the U.S. Bureau of Economic Analysis, average mortgage debt, personal debt and 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.
sources
- Harvard Health Publishing. "Why Men Often Die Earlier Than Women." Accessed July 7, 2022.
- Life Insurance Marketing and Research Association (LIMRA). "Facts About Life Insurance 2021." Accessed July 7, 2022.
- National Center for Health Statistics. "Provisional Life Expectancy Estimates for January through June, 2020." Accessed July 7, 2022.
- National Library of Medicine. "Women Live Longer Than Men." Accessed July 7, 2022.
- S&P Global. "2020 Annual Report." Accessed July 7, 2022.