State Farm offers the best life insurance in Minnesota and nationwide, earning a MoneyGeek score of 99 out of 100 for customer service, affordability, and coverage options. We also recommend GEICO, Nationwide, Haven, and Mutual of Omaha as some of the best affordable alternatives.
Best Life Insurance Companies in Minnesota (June 2025)
Updated: July 1, 2025
Advertising & Editorial Disclosure
Key Takeaways
Life insurance rates don’t change by state, but in Minnesota, the best providers are State Farm, GEICO, Nationwide, Haven and Mutual of Omaha.
GEICO delivers the cheapest life insurance options in Minnesota and nationwide, with monthly rates beginning at $3.
To get the best life insurance in Minnesota, we recommend deciding on coverage beforehand, researching costs and companies, and comparing plenty of providers.
Best Life Insurance Providers in Minnesota
| State Farm | 99 | $6 |
| GEICO | 98 | $3 |
| Nationwide | 97 | $4 |
| Haven | 97 | $6 |
| Mutual of Omaha | 96 | $4 |
*Rates presented are for coverage levels between $250-$500K for a 20 year term life insurance plan for a 40-year-old man in good health who does not smoke.
Best Life Insurance in Minnesota by Category
While the top life insurance provider is a great option for many, your best choice might differ based on your unique needs. Below, we dive into the leading providers tailored for different common profiles.
| Young Adults | Progressive | $2 |
| Seniors | GEICO | $21 |
| Smokers | Progressive | $10 |
| High Coverage | Assurity | $19 |
Compare Personalized Best Minnesota Life Insurance Picks
To help you find the best life insurance fit, we've included a filterable table below, making it easy to match options to your unique profile.
Data filtered by:Results filtered by:
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Age:41-50
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Gender:M
Select
Coverage Level:250k-500k
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Term:10
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Health Level:Excellent
| State Farm | 99 | $10 |
| GEICO | 98 | $6 |
| Nationwide | 97 | $7 |
| Haven | 97 | $15 |
| Mutual of Omaha | 96 | $7 |
| Protective | 95 | $10 |
| Prudential | 94 | $8 |
| Allstate | 92 | $11 |
| AAA | 92 | $12 |
| Transamerica | 90 | $7 |
Rates in this table differ from the main comparison due to the broader age range (41 to 50 vs. 40) and flexible term selection rather than a fixed 20-year term.
How to Find the Best Life Insurance in Minnesota
Here are some straightforward tips to help you discover the ideal life insurance policy in the North Star State:
- 1
Decide coverage beforehand
Determining how much life insurance you need is essential before making a purchase. This allows you to compare prices fairly and avoid being oversold by agents.
- 2
Research costs for your profile
Check average life insurance costs for your desired coverage level and personal profile. This helps gauge if you’re getting a good deal. Often, location doesn’t affect your life insurance rates.
- 3
Compare company reputations
While rates generally don’t vary by state, knowing a company’s reputation in your area can ensure a better choice. Use J.D. Power, online forums, and independent agents to assess providers.
- 4
Compare quotes through multiple avenues
Compare quotes from several companies to secure the best deal. Prices can fluctuate based on who provides the quote, whether through an independent agent or an online source.
Best Life Insurance in Minnesota: Bottom Line
In Minnesota, the top three life insurance companies are State Farm, GEICO, and Nationwide, according to MoneyGeek's analysis. You should assess your coverage needs and compare quotes to ensure you get the best deal possible.
Minnesota Life Insurance: FAQ
Explore our expert answers to common questions about life insurance options in Minnesota.
What is the best life insurance in Minnesota?
In Minnesota, State Farm earns the top spot for life insurance with good service, reasonable pricing, and quality term policies.
How do you get the best life insurance in Minnesota?
To secure the best life insurance in Minnesota, set your coverage needs, scrutinize insurer reputations, and compare quotes from multiple companies for an informed decision.
Do life insurance rates differ by state?
No, life insurance rates usually maintain consistency across states, but policy options and riders can differ based on geographic location.
How We Decided the Best Life Insurance in Minnesota
MoneyGeek created a scoring system to compare life insurance companies across five categories and ranked them based on their scores. We selected companies to review based on their broad national coverage and ability to provide an online quote.
MoneyGeek's Scoring System
In our unique scoring system, companies can earn up to five points in each of five categories. We then use these category scores to calculate an overall MoneyGeek score out of 100. We applied the following base weightings to score insurers:
- Affordability: 60%
- Financial Stability: 5%
- Buying Process: 5%
- Customer Satisfaction: 20%
- Product Diversity: 10%
Each company's score incorporates:
- Cost data obtained through online quotes
- Financial strength ratings from AM Best and the number of years in business
- Customer satisfaction data from the National Association of Insurance Commissioners (NAIC) customer complaint index (we reviewed annual complaint data from 2020 to 2022, the most recent year available)
- Availability of tools to aid in the buying process, such as online product materials and multiple payment options
- Diversity of life insurance products offered
Sample Customer Profile
MoneyGeek used a standard profile to obtain life insurance quotes in Minnesota:
- 40-year-old nonsmoker
- Average height and healthy weight
- Excellent health rating
We modified the profile by age, gender, height, weight, tobacco use, health rating and geographic location to collect a variety of quotes and determine the best life insurance company for several types of customers. We collected quotes for term life insurance with varying term lengths and coverage amounts, as well.
When necessary, we identified trends in the dataset and used those patterns to calculate projections and extend the data beyond what was originally collected.
About Mark Fitzpatrick
Mark Fitzpatrick is a senior content director at MoneyGeek with over five years of experience analyzing the insurance market, conducting original research and creating content that can be personalized for every buyer. He has been quoted on insurance topics in several publications, including CNBC, NBC News and Mashable.
Mark 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 economics and insurance knowledge to bring transparency around financial topics and help others feel confident in their money moves.