Best Life Insurance in Philadelphia, PA (August 2024)
Updated: September 16, 2024
Advertising & Editorial Disclosure
Protective is the best life insurance company in Philadelphia for both men and women. The MoneyGeek score for men is 91 out of 100, with an average monthly premium of $27. For women, the MoneyGeek score is 92, with an average premium of $24 per month.
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 Philadelphia, Pennsylvania.
Coverage costs and company information for life insurance providers were updated in August 2024.
BestLife InsurancePhiladelphiaBest Life Insurance Companies in Philadelphia
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.
Protective offers the best life insurance in Philadelphia for both men and women, with a MoneyGeek score of 91 for men and 92 for women. The average monthly premium is $27 for men and $24 for women.
Top providers for men:
Top providers for women:
Protective stands out due to its high customer satisfaction scores and affordable premiums. This makes it a great choice for individuals seeking reliable life insurance in Philadelphia.
When it comes to securing life insurance in Philadelphia, Protective stands out for both men and women. With a MoneyGeek score of 92, Protective offers affordable monthly premiums. Consumers can rely on this provider for a straightforward choice in life insurance coverage.
Pros:
Cons:
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.
In Philadelphia, Protective is the best term life insurance provider for both men and women, with a MoneyGeek score of 92 and an average monthly premium of $12.
The top two term life insurance companies for men are:
The top two term life insurance companies for women are:
Term life insurance is a straightforward product designed to offer peace of mind during a set term. For example, a parent might purchase a 20-year term policy to ensure their child's education costs will be covered in the event of their untimely death.
In Philadelphia, men and women seeking the best term life insurance should consider Protective. With a MoneyGeek score of 92, Protective is known for its combination of quality and affordability, offering a monthly premium of $12 for men and women.
Pros:
Cons:
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 Philadelphia, Protective offers the best whole life insurance for both men and women, with a MoneyGeek score of 92. This high score suggests that Protective offers a combination of affordability, customer satisfaction and financial stability that is hard to beat for those seeking a reliable insurance policy.
Top whole life companies for men in Philadelphia:
Top whole life companies for women in Philadelphia:
Whole life insurance provides lifelong coverage, building cash value that can serve as a financial safety net or as an investment component. For example, someone might choose whole life insurance for the guaranteed coverage and the potential to borrow against the policy's cash value.
Protective is the premier provider of whole life insurance in Philadelphia, earning a MoneyGeek score of 92 for both men and women. This score reflects a balance of cost, customer satisfaction and stability.
Pros:
Cons:
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.
Based on comprehensive data, Protective emerges as the provider with the best universal life insurance in Philadelphia for both men and women. It has a MoneyGeek score of 91 for both women and men. This score reflects a balanced offering that meets the needs of the average individual.
Best universal life insurance for men:
Best for women's universal life insurance:
Universal life insurance is a flexible policy that combines life coverage with an investment savings element. For instance, someone seeking long-term financial planning might choose universal life insurance for its potential cash value growth.
Protective stands out as the best universal life insurance provider in Philadelphia, offering exceptional value for both men and women. Protective demonstrates a strong commitment to customer satisfaction and financial stability.
Pros:
Cons:
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.
The Protective company emerges as the top provider of the best no-medical-exam life insurance in Philadelphia, with a MoneyGeek score of 91 for both men and women. The average person in Philadelphia can trust in Protective's reputable service and product offerings.
Best no-medical-exam life insurance for men:
Best life insurance for women that does not require a medical exam:
No-medical-exam life insurance is a policy that grants coverage without the need to undergo a health examination.
Protective stands out as the premier choice for no-medical-exam life insurance in Philadelphia, offering excellent service to both men and women. With an overall MoneyGeek score of 91 for each gender, Protective demonstrates its commitment to quality coverage and customer satisfaction.
Pros
Cons
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.
Protective emerges as the leading provider of the best term life insurance for seniors in Philadelphia, having a MoneyGeek score of 92 for both men and women. Men can expect an average monthly premium of $56, while women are quoted at $55. Age significantly affects life insurance premiums; as individuals enter their senior years, the likelihood of health-related issues increases, which in turn raises the cost of insurance.
| 1 | CompanyProtective | Premium$56 | MG Score out of 10092 |
| 2 | CompanyMutual of Omaha | Premium$60 | MG Score out of 10091 |
| 3 | CompanyNationwide | Premium$56 | MG Score out of 10090 |
| 4 | CompanyAAA | Premium$69 | MG Score out of 10088 |
| 5 | CompanyTransamerica | Premium$55 | MG Score out of 10088 |
| 6 | CompanyAllstate | Premium$68 | MG Score out of 10087 |
| 7 | CompanyPrudential | Premium$70 | MG Score out of 10086 |
| 8 | CompanyState Farm | Premium$104 | MG Score out of 10085 |
| 9 | CompanyHaven | Premium$109 | MG Score out of 10082 |
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.
For those searching for the best term life insurance for smokers in Philadelphia, Mutual of Omaha stands out with the highest MoneyGeek scores for both men and women. Men receive a MoneyGeek score of 91 and an average monthly premium of $32, while women score 90 with a monthly premium of $31. Smoking is a significant factor in determining life insurance premiums, as it increases health risks and the likelihood of insurance claims.
| 1 | CompanyMutual of Omaha | Premium$32 | MG Score out of 10091 |
| 2 | CompanyAllstate | Premium$29 | MG Score out of 10089 |
| 3 | CompanyNationwide | Premium$40 | MG Score out of 10088 |
| 4 | CompanyAAA | Premium$38 | MG Score out of 10088 |
| 5 | CompanyTransamerica | Premium$30 | MG Score out of 10088 |
| 6 | CompanyProtective | Premium$51 | MG Score out of 10087 |
| 7 | CompanyPrudential | Premium$32 | MG Score out of 10087 |
| 8 | CompanyState Farm | Premium$45 | MG Score out of 10086 |
| 9 | CompanyHaven | Premium$58 | MG Score out of 10082 |
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.
For the best term life insurance for young adults in Philadelphia, Protective tops the list for both men and women with a MoneyGeek score of 92. The monthly premium is $8 on average for men and $7 for women. Age plays a significant role in determining life insurance premiums.
Younger adults often benefit from lower rates as they are generally healthier and pose less risk to insurers. Protective's high MoneyGeek score reflects its strong performance in affordability, customer satisfaction and financial stability.
| 1 | CompanyProtective | Premium$8 | MG Score out of 10092 |
| 2 | CompanyMutual of Omaha | Premium$9 | MG Score out of 10091 |
| 3 | CompanyNationwide | Premium$9 | MG Score out of 10090 |
| 4 | CompanyAAA | Premium$10 | MG Score out of 10089 |
| 5 | CompanyTransamerica | Premium$8 | MG Score out of 10088 |
| 6 | CompanyAllstate | Premium$12 | MG Score out of 10086 |
| 7 | CompanyHaven | Premium$11 | MG Score out of 10085 |
| 8 | CompanyPrudential | Premium$14 | MG Score out of 10084 |
| 9 | CompanyState Farm | Premium$17 | MG Score out of 10084 |
| 10 | CompanyBestow | Premium$19 | MG Score out of 10083 |
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.
Protective offers the best cheap term life insurance in Philadelphia for both men and women. With a MoneyGeek score of 92 and an average monthly premium of $12, it offers a balanced mix of affordability, customer satisfaction and financial stability. Premiums are influenced by several factors, including age, health, coverage amount and term length.
| 1 | CompanyProtective | Premium$12 | MG Score out of 10092 |
| 2 | CompanyNationwide | Premium$15 | MG Score out of 10091 |
| 3 | CompanyMutual of Omaha | Premium$14 | MG Score out of 10091 |
| 4 | CompanyTransamerica | Premium$13 | MG Score out of 10090 |
| 5 | CompanyAAA | Premium$16 | MG Score out of 10089 |
| 6 | CompanyAllstate | Premium$19 | MG Score out of 10086 |
| 7 | CompanyPrudential | Premium$21 | MG Score out of 10084 |
| 8 | CompanyHaven | Premium$20 | MG Score out of 10084 |
| 9 | CompanyState Farm | Premium$26 | MG Score out of 10082 |
The average monthly premium for term life insurance in Philadelphia is $24 for women and $27 for men. These costs are influenced by several factors, including age, health, lifestyle, occupation and the amount of coverage desired.
The cost of life insurance in Philadelphia might be higher or lower compared to the rest of Pennsylvania due to various reasons. Health care costs in Philadelphia may be different from those in other parts of the state. Additionally, lifestyle and economic conditions in the city can affect insurance rates. For instance, urban areas might have higher living costs, impacting the overall cost of insurance premiums.
By considering these factors, consumers can better navigate their options and find the most suitable life insurance plan for their needs.
Protective has the best life insurance in Philadelphia for men, with a MoneyGeek score of 92. This company ranks first in the state for its comprehensive coverage and customer satisfaction.
The monthly premium cost for the best life insurance for men in Philadelphia is $27. This cost is based on the highest MoneyGeek score and includes comprehensive coverage and excellent customer satisfaction.
Protective has the best life insurance in Philadelphia for women, with a MoneyGeek score of 92. This company ranks first in the state for its customer satisfaction and comprehensive coverage.
The monthly premium cost for the best life insurance for women in Philadelphia is $24. This cost is based on the highest MoneyGeek score and includes comprehensive coverage and excellent customer satisfaction.
Life insurance in Philadelphia may offer more competitive rates and better coverage options due to the higher population density and increased competition among insurers. For example, Protective offers the highest-rated policies in Philadelphia, which may not be the case in smaller towns or rural areas.
If a life insurance company goes bankrupt in Philadelphia, state guaranty associations typically step in to protect policyholders. These associations provide coverage up to certain limits, ensuring that policyholders do not lose their benefits.
Philadelphia residents might need life insurance to provide financial security for their dependents, cover outstanding debts or ensure that funeral expenses are paid. Life insurance can also offer peace of mind, knowing that loved ones will be taken care of in the event of an untimely death.
To find a lost life insurance policy in Philadelphia, start by checking with the deceased's financial advisor, attorney, or employer. You can also contact the Pennsylvania Department of Insurance or use online tools like the National Association of Insurance Commissioners' Life Insurance Policy Locator.
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.
