Best Life Insurance in Minnesota (October 2024)
Updated: October 23, 2024
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For women, the top life insurance provider is Nationwide, achieving a MoneyGeek score of 97 with a monthly premium of $19. For men, Nationwide is also the best life insurance, with a MoneyGeek score of 97 and a monthly premium of $19.
When considering life insurance, factors such as cost, customer satisfaction and financial stability play important roles in deciding which company aligns best with your individual needs.
BestLife InsuranceMinnesotaBest Life Insurance Companies in Minnesota
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 Minnesota.
Coverage costs and company information for life insurance providers were updated in May 2024.
| Nationwide | 1 | 97 |
| GEICO | 2 | 97 |
| Mutual of Omaha | 3 | 96 |
| Protective | 4 | 95 |
| Allstate | 5 | 94 |
| State Farm | 6 | 94 |
| Prudential | 7 | 93 |
| Transamerica | 8 | 93 |
| AAA | 9 | 92 |
| Haven | 10 | 92 |
| American Family Insurance | 11 | 91 |
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to score and rank the overall best life insurance companies in Minnesota:
Nationwide stands out as the premier provider of life insurance in Minnesota for both men and women, earning a MoneyGeek score of 97 out of 100 with an average monthly premium of $19.
Delving into the top providers, the following are the top three highest MoneyGeek scores:
These scores reflect the insurers' blend of affordability, stability and client satisfaction.
Nationwide is the top-ranked company for the best life insurance in Minnesota for men, earning an impressive MoneyGeek score of 97. With a monthly premium of about $19, it's a financially sound choice for those prioritizing quality coverage and satisfaction.
Pros:
Nationwide stands out as the top choice for the best life insurance in Minnesota for women. With an overall MoneyGeek score of 97 and an estimated monthly premium of $19, Nationwide delivers exceptional value and quality.
Pros:
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to score and rank the best term life insurance companies in Minnesota:
Costs are based on quotes gathered for a $250,000 life insurance policy with a 10-year term.
Nationwide is the top provider of the best term life insurance in Minnesota for both men and women, with a MoneyGeek score of 97 and a monthly premium of $16.
The top three highest MoneyGeek scores are:
Nationwide shines as the leading choice for the best term life insurance in Minnesota, with an outstanding MoneyGeek score of 97 and a modest monthly premium of $16 for men and women.
Pros:
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to score and rank the best whole life insurance companies in Minnesota:
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.
State Farm is the best whole life insurance in Minnesota, with a MoneyGeek score of 99 for both men and women.
The top three highest MoneyGeek scores in Minnesota are:
With an overall MoneyGeek score of 99, State Farm stands as the best choice for the best whole life insurance in Minnesota for men and women.
Pros:
Cons:
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to score and rank the best universal life insurance companies in Minnesota:
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.
Nationwide stands as the leading provider of the best universal life insurance in Minnesota for both men and women, achieving a MoneyGeek score of 99. The top three companies with the highest scores for life insurance consumers are:
Nationwide stands out as the premier company offering the best universal life insurance in Minnesota, tailored for both men and women. It earned an impressive overall MoneyGeek score of 99.
Pros:
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to score and rank the best no-medical-exam life insurance companies in Minnesota:
We did not weigh affordability as we did not collect no-medical-exam life insurance quotes. The company below has the highest score among the companies that offer life insurance policies without mandatory medical exams.
Nationwide emerges as the leading provider of the best no-medical-exam life insurance in Minnesota, earning an impressive MoneyGeek score of 99 for both men and women.
Here are the top three highest MoneyGeek scores:
Nationwide stands out as the leading provider of no-medical-exam life insurance in Minnesota for both men and women, with a stellar MoneyGeek score of 99.
Pros:
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to score and rank the best term life insurance companies for seniors in Minnesota:
We applied the same weighting factors as the term life insurance category; however, the persona for the quote was adjusted to reflect an age of 70 for a more accurate estimate.
Nationwide has emerged as the superior provider for the best term life insurance for seniors in Minnesota, achieving the highest MoneyGeek score for both men and women. Nationwide’s MoneyGeek score is an impressive 98 for men and 97 for women, with its monthly premiums standing at $61 and $59, respectively.
Nationwide distinguishes itself through its exceptional satisfaction and stability scores, alongside competitive affordability, which make it the leading choice for term life insurance.
| Nationwide | 1 | $61 | 98 |
| GEICO | 2 | $57 | 96 |
| Mutual of Omaha | 3 | $67 | 96 |
| Prudential | 4 | $56 | 95 |
| Protective | 5 | $60 | 95 |
| Allstate | 6 | $64 | 93 |
| State Farm | 7 | $116 | 93 |
| AAA | 8 | $78 | 92 |
| Transamerica | 9 | $72 | 92 |
| Haven | 10 | $115 | 89 |
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to score and rank the best term life insurance companies in Minnesota for people who smoke:
We applied the same weighting factors as the term life insurance category; however, the persona for the quote was adjusted to reflect an active smoker for a more accurate estimate.
Nationwide stands out as the best term life insurance provider for smokers in Minnesota for both men and women, with a MoneyGeek score of 96 for men and 95 for women. The monthly premium costs are $68 for men and $66 for women.
These scores highlight Nationwide's excellence in customer satisfaction, affordability, diversity, process and stability, which contribute significantly to its top MoneyGeek score.
| Nationwide | 1 | $68 | 96 |
| GEICO | 2 | $52 | 96 |
| Prudential | 3 | $50 | 95 |
| Mutual of Omaha | 4 | $65 | 95 |
| State Farm | 5 | $83 | 95 |
| Transamerica | 6 | $63 | 93 |
| Protective | 7 | $89 | 91 |
| Haven | 8 | $105 | 90 |
| Allstate | 9 | $103 | 89 |
| AAA | 10 | $111 | 89 |
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to score and rank the best term life insurance companies in Minnesota for young adults:
We applied the same weighting factors as the term life insurance category; however, the persona for the quote was adjusted to reflect an age of 20 for a more accurate estimate.
Nationwide stands as the top provider of the best term life insurance for young adults in Minnesota, for both men and women. It earned a MoneyGeek score of 97 with approximate monthly premiums of $10 for both genders.
Nationwide distinguishes itself through its top-notch customer satisfaction and commitment to affordability and process efficiency.
| Nationwide | 1 | $10 | 97 |
| GEICO | 2 | $8 | 97 |
| Mutual of Omaha | 3 | $10 | 96 |
| Protective | 4 | $8 | 95 |
| Prudential | 5 | $11 | 93 |
| AAA | 6 | $11 | 93 |
| Allstate | 7 | $10 | 93 |
| State Farm | 8 | $19 | 93 |
| Transamerica | 9 | $10 | 92 |
| Haven | 10 | $12 | 92 |
| Bestow | 11 | $17 | 91 |
How was this MoneyGeek score calculated?
MoneyGeek used the following weights to score and rank the best cheap term life insurance companies in Minnesota:
We applied the same weighting factors as the term life insurance category; however, the quote was adjusted to reflect a 10-year term with minimum coverage.
Nationwide stands out as the top provider of the best cheap term life insurance in Minnesota, with a MoneyGeek score of 97 for both men and women. It offers notable plans at approximately $16 per month, representing a balance between affordability and comprehensive coverage.
| Nationwide | $16 | 97 |
| GEICO | $13 | 97 |
| Mutual of Omaha | $16 | 96 |
| Protective | $13 | 96 |
| Allstate | $16 | 95 |
| Transamerica | $17 | 94 |
| Prudential | $17 | 93 |
| AAA | $18 | 93 |
| Haven | $21 | 89 |
| State Farm | $30 | 89 |
The average cost of monthly premiums in Minnesota is $64 for women and $77 for men. Factors influencing the average cost of life insurance in Minnesota include age, health, occupation, coverage amount and term length. Policies for older individuals or those with health concerns typically incur higher costs due to increased risk.
The best life insurance for men in Minnesota is provided by Nationwide.
For the best life insurance according to MoneyGeek, men can expect an average monthly premium of $19. This cost reflects a blend of affordability and quality coverage.
The best life insurance in Minnesota for women is Nationwide.
Nationwide offers the best policy at an average monthly premium of $19.
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.
