Best Life Insurance in Chicago, IL (October 2024)


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Protective is the best life insurance company for men and women in Chicago, Illinois. With a MoneyGeek score of 92 for both genders, it offers an average monthly premium of $28 for women and $26 for men. The score and premium costs are based on a 20-year term policy with $500,000 coverage.

When deciding on life insurance, consider various factors such as your age, health and financial stability. 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 Chicago, Illinois.

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Coverage costs and company information for life insurance providers were updated in October 2024.

1,488Quotes Analyzed
 
14Companies Compared
 
50ZIP Codes
MoneyGeek Logo IconBestLife InsuranceChicago, IL
2024

Best Life Insurance Companies in Chicago

Overall Best Life Insurance in Chicago, IL

How was this MoneyGeek score calculated?

Protective is the top provider of life insurance in Chicago, with a MoneyGeek score of 92 for men and women. Its average monthly premium is $26 for men and $28 for women.

Top providers for men:

  • Protective: MoneyGeek score of 92 out of 100 at $26 per month for men
  • Mutual of Omaha: MoneyGeek score of 91 out of 100 at $29 per month for men

Top providers for women:

  • Protective: MoneyGeek score of 92 out of 100 at $28 per month for women
  • Mutual of Omaha: MoneyGeek score of 91 out of 100 at $31 per month for women

Protective stands out due to its high MoneyGeek score and affordable monthly premiums. This makes it an excellent choice for the average individual looking to purchase life insurance in Chicago.

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MoneyGeek Top Pick
Protective

Protective is the best life insurance provider in Chicago for men and women, with a MoneyGeek score of 92 for each. The company offers average monthly premiums of $28 for women and $26 for men, ensuring accessible financial protection. With high marks in customer satisfaction and affordability, Protective caters to those prioritizing a seamless experience and value for money.

Pros:

  • High customer satisfaction
  • Excellent affordability
  • Solid financial stability

Cons:

  • Buying process could improve

Best Term Life Insurance in Chicago, IL

How was this MoneyGeek score calculated?

Protective is the premier choice for men and women seeking the best term life insurance in Chicago, with a MoneyGeek score of 92 for both genders. Its average monthly premium is $13 for men and $15 for women. Protective balances affordability, customer satisfaction and financial stability, making it an ideal option for the average individual seeking reliable term life insurance coverage.

The top two term life insurance companies for men are:

  • Protective: MoneyGeek score of 92 out of 100 at $13 per month for men
  • Mutual of Omaha: MoneyGeek score of 91 out of 100 at $15 per month for men

For women, the top two are:

  • Protective: MoneyGeek score of 92 out of 100 at $15 per month for women
  • Mutual of Omaha: MoneyGeek score of 90 out of 100 at $19 per month for women

Term life insurance is a policy that provides coverage for a set period. For example, a parent might choose term life insurance to ensure their child's education is funded in the event of their untimely passing.

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MoneyGeek Top Pick
Protective

Protective offers the best term life insurance in Chicago, with a MoneyGeek score of 92 for men and women. Men pay an average monthly premium of $13, while women pay around $15. Protective's high scores in customer satisfaction and affordability make it a compelling option for value-conscious individuals.

Pros:

  • High customer satisfaction
  • Excellent affordability
  • Solid financial stability

Cons:

  • Buying process could improve

Best Whole Life Insurance in Chicago, IL

How was this MoneyGeek score calculated?

Protective is the best whole life insurance provider in Chicago, with a MoneyGeek score of 92 for men and women. This score reflects the company's strong performance across affordability, customer satisfaction, buying process, financial stability and product diversity.

Top whole life companies for men in Chicago:

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

Top whole life companies for women in Chicago:

  • 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 permanent insurance policy that provides coverage for the insured's entire life. It can be an appealing choice for those who want the certainty of fixed premiums and a guaranteed death benefit. For example, someone might opt for whole life insurance to ensure their family's financial stability or to leave a legacy, regardless of how long they live.

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MoneyGeek Top Pick
Protective

In Chicago, Protective is the leading provider of whole life insurance for men and women. With a MoneyGeek score of 92 for each, the company ensures comprehensive coverage and satisfaction across the board.

Pros:

  • High customer satisfaction
  • Excellent affordability
  • Strong financial stability

Cons:

  • Buying process could improve
  • More product variety desired

Compare Life Insurance Rates

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.

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Best Universal Life Insurance in Chicago, IL

How was this MoneyGeek score calculated?

For those seeking the best universal life insurance in Chicago, Protective stands out with a MoneyGeek score of 91 for men and women. This score reflects the company's commitment to customer satisfaction and financial stability.

Best universal life insurance for men:

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

Best for women's universal life insurance:

  • 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 offers flexibility in premiums and death benefits. For example, if someone wants the potential to build cash value over time while having life insurance coverage, universal life insurance could be a more suitable option than term life insurance.

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MoneyGeek Top Pick
Protective

In Chicago, Protective is the premier choice for universal life insurance for men and women, with a MoneyGeek score of 91 for each. Recognized for its excellence in customer satisfaction and financial stability, Protective offers a reliable option for those seeking quality life insurance coverage.

Pros:

  • High customer satisfaction
  • Excellent affordability
  • Strong financial stability

Cons:

  • Buying process needs improvement

Best No-Medical-Exam Life Insurance in Chicago, IL

How was this MoneyGeek score calculated?

In Chicago, Protective offers the best life insurance without the hassle of a mandatory medical exam, with a MoneyGeek score of 91 for men and women.

Best no-medical-exam life insurance for men:

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

Best life insurance for women that does not require a medical exam:

  • 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 allows individuals to obtain coverage quickly and without the need for a medical check-up. This can be particularly beneficial for those with health concerns or who require immediate coverage. For instance, someone with a chronic condition might opt for this insurance to avoid the possibility of being denied coverage or facing higher premiums.

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MoneyGeek Top Pick
Protective

In Chicago, Protective offers the best life insurance without a required medical exam, with a MoneyGeek score of 91 for men and women. This company's high score reflects its leading position in overall satisfaction and value.

Pros:

  • High customer satisfaction
  • Excellent affordability
  • Strong financial stability

Cons:

  • Buying process could improve

How Much Life Insurance Do You Need?

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Best Term Life Insurance for Seniors in Chicago, IL

How was this MoneyGeek score calculated?

For seniors seeking the best term life insurance for seniors in Chicago, Protective stands out with a MoneyGeek score of 92 for men and 91 for women. Its average monthly premiums are $56 and $66, respectively.

Age significantly influences life insurance premiums, with older individuals typically facing higher costs due to increased risk. Protective's high MoneyGeek score considers affordability, customer satisfaction, buying process, financial stability and product diversity. These aspects are crucial for seniors who prioritize cost and confidence in their life insurance provider.

Best Term Life Insurance for Seniors in Chicago
Data filtered by:Results filtered by:
gender:
gender:M
1Protective$5692
2Mutual of Omaha$6391
3Nationwide$5790
4AAA$7388
5Prudential$5388
6Transamerica$6887
7Allstate$8186
8State Farm$10984
9Haven$10882

Best Term Life Insurance for Smokers in Chicago, IL

How was this MoneyGeek score calculated?

For those seeking the best term life insurance for smokers in Chicago, Mutual of Omaha stands out with a MoneyGeek score of 90 for men and 88 for women. The company offers reliable coverage at an average monthly premium of $61 for men and $76 for women.

Smoking influences life insurance premiums significantly due to the health risks it poses. Insurers view smokers as higher risk, which is reflected in increased premium costs. Mutual of Omaha's high MoneyGeek score indicates a strong balance of affordability, customer satisfaction, buying process and financial stability. For individuals looking for dependable term life insurance options amidst the complexities of smoking-related risks, Mutual of Omaha is a worthwhile consideration.

Best Term Life Insurance for Smokers in Chicago
Data filtered by:Results filtered by:
gender:
gender:M
1Mutual of Omaha$6190
2Nationwide$6489
3AAA$6688
4Protective$8488
5Prudential$4788
6Transamerica$5987
7State Farm$7985
8Allstate$7785
9Haven$9982

Best Term Life Insurance for Young Adults in Chicago, IL

How was this MoneyGeek score calculated?

**Protective ** offers the best term life insurance for young adults in Chicago, with a MoneyGeek score of 92 for men and women. Its average monthly premium is $8 and $9, respectively. Protective has the highest MoneyGeek score due to its strong affordability, customer satisfaction and financial stability.

Age significantly impacts the cost of life insurance premiums. Younger individuals typically pay lower premiums because they are generally healthier and pose less risk to insurers. For young adults in Chicago, choosing Protective ensures a balance of cost and quality coverage.

Best Term Life Insurance for Young Adults in Chicago
Data filtered by:Results filtered by:
Sex:
Sex:M
1Protective$892
2Mutual of Omaha$991
3Nationwide$1089
4AAA$1188
5Transamerica$1087
6Prudential$1186
7Haven$1185
8Allstate$1584
9State Farm$1884
10Bestow$1683

Best Cheap Term Life Insurance in Chicago, IL

How was this MoneyGeek score calculated?

For the best cheap term life insurance in Chicago, Protective stands out with a MoneyGeek score of 92 for men and women. Its average monthly premium is $13 and $15, respectively. Protective's high MoneyGeek score is due to its affordability, customer satisfaction and financial stability.

Factors that affect life insurance premiums include age, health, coverage amount and term length. To get the lowest premiums possible, maintain excellent health, choose a shorter term length and opt for a lower coverage amount.

Best Cheap Term Life Insurance in Chicago
Data filtered by:Results filtered by:
Sex:
Sex:M
1Protective$1392
2Nationwide$1591
3Mutual of Omaha$1590
4AAA$1789
5Transamerica$1688
6Prudential$1688
7Haven$2084
8Allstate$2284
9State Farm$2882

Average Cost of Term Life Insurance in Chicago, IL

The average monthly premium for term life insurance in Chicago is $27 for women and $26 for men. Many factors can affect the cost of life insurance premiums, including age, health, lifestyle, occupation and the amount of coverage you choose.

Life insurance costs in Chicago might differ from those in the rest of Illinois for several reasons. Chicago's higher cost of living can drive up premiums. Additionally, health care costs in the city might be higher, influencing life insurance rates. Different risk factors, such as crime rates and population density, can also play a role.

Understanding these factors can help you make informed decisions about your life insurance needs. By considering your personal circumstances and the regional differences, you can find the best coverage for your situation.

FAQ About Life Insurance in Chicago, IL

What company has the best life insurance in Chicago for men?
What is the monthly premium cost for the best life insurance for men in Chicago?
What company has the best life insurance in Chicago for women?
What is the monthly premium cost for the best life insurance for women in Chicago?
Is there anything different about life insurance in Chicago compared to the rest of Illinois?
What happens to your life insurance if a company goes bankrupt in Chicago?
Why might Chicago residents need life insurance?
How do you find a lost life insurance policy in Chicago?

About Mark Fitzpatrick


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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.


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