Best Life Insurance in Salem, OR (August 2024)


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Updated: October 4, 2024

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Protective is the best life insurance company in Salem, Oregon, for both men and women. The MoneyGeek score for men is 92, and the monthly premium cost is $14. For women, the MoneyGeek score is also 92, and the monthly premium cost is $12.

Different factors should be considered when deciding on what type of life insurance to buy. These scores and premium costs are based on a 20-year term policy and $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 Salem, Oregon.

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

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14Companies Compared
 
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MoneyGeek Logo IconBestLife InsuranceSalem, OR
2024

Best Life Insurance Companies in Salem

Overall Best Life Insurance in Salem, OR

How was this MoneyGeek score calculated?

If you're looking for the best life insurance in Salem, Protective is the top choice for both men and women with a MoneyGeek score of 92 and an average monthly premium of $14 for men and $12 for women.

Top providers for men:

  • Protective: MoneyGeek score of 92 out of 100 at $14 per month for men
  • Mutual of Omaha: MoneyGeek score of 91 out of 100 at $17 per month for men

Top providers for women:

  • Protective: MoneyGeek score of 92 out of 100 at $12 per month for women
  • Mutual of Omaha: MoneyGeek score of 90 out of 100 at $15 per month for women

The company offers high MoneyGeek scores, indicating strong performance across multiple metrics like affordability, customer satisfaction and financial stability. This makes it a reliable option for the average individual looking to secure life insurance.

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MoneyGeek Top Pick
Protective

In Salem, Protective emerges as the leading choice for life insurance for both men and women, boasting a MoneyGeek score of 92. Women can secure a policy at approximately $12 monthly, while men can do so for about $14. Protective's exceptional customer satisfaction and affordability make it a standout in the market.

Pros:

  • High customer satisfaction
  • Strong affordability
  • Robust financial stability

Cons:

  • Buying process could improve

Best Term Life Insurance in Salem, OR

How was this MoneyGeek score calculated?

For those in Salem seeking the best term life insurance Protective stands out for both men and women, with a MoneyGeek score of 92 and monthly premiums of $7 for men and $7 for women.

The top two term life insurance companies for men are:

  • Protective: MoneyGeek score of 92 out of 100 at $7 per month for men
  • Mutual of Omaha: MoneyGeek score of 91 out of 100 at $7 per month for men

The top two term life insurance companies for women are:

  • Protective: MoneyGeek score of 92 out of 100 at $7 per month for women
  • Mutual of Omaha: MoneyGeek score of 91 out of 100 at $7 per month for women

Term life insurance offers a straightforward protection plan for a set period, which can be a cost-effective solution for those with temporary financial obligations or those seeking a simple, no-frills insurance option.

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MoneyGeek Top Pick
Protective

Protective stands out as the best term life insurance provider for women and men in Salem, with a MoneyGeek score of 92. Men and women seeking coverage can expect a monthly premium of $7, making it an affordable choice for financial security. Here's a straightforward look at the advantages and drawbacks of choosing Protective for your insurance needs.

Pros:

  • High customer satisfaction
  • Competitive affordability
  • Reliable financial stability

Cons:

  • Average buying process

Best Whole Life Insurance in Salem, OR

How was this MoneyGeek score calculated?

Protective is the best provider of whole life insurance in Portland, with a MoneyGeek score of 92 for both men and women. This score reflects the company's commitment to affordability, customer satisfaction and financial stability.

Top whole life companies for men in Salem:

  • 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 Salem:

  • 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 policy that provides lifetime coverage with a fixed premium and a cash value component. It's a good option for those who want predictable costs and the ability to accumulate savings over time.

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MoneyGeek Top Pick
Protective

Protective stands out as the premier choice for the best whole life insurance in Salem for both men and women. With an impressive MoneyGeek score of 92 for each, the company demonstrates a strong balance of customer satisfaction and financial products. Consumers seeking a reliable insurance provider will find Protective's offerings compelling.

Pros:

  • High customer satisfaction
  • Excellent affordability
  • Strong financial stability

Cons:

  • Buying process could improve

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 Salem, OR

How was this MoneyGeek score calculated?

In Salem Protective offers the best universal life insurance. Protective's score indicates a strong combination of affordability, customer satisfaction, and financial stability, making it a compelling choice for the average individual looking for reliable universal life insurance coverage.

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 universal life insurance for women:

  • 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 flexible premiums and the potential for cash value growth, making it a versatile option for long-term financial planning. For instance, someone interested in estate planning might choose universal life insurance to ensure their beneficiaries are financially supported while also accumulating a cash value that can be accessed during their lifetime.

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MoneyGeek Top Pick
Protective

Protective emerges as the standout choice for the best universal life insurance in Salem, catering to both men and women with a stellar MoneyGeek score of 91. Reflecting a commitment to customer satisfaction and financial stability, Protective offers a robust insurance solution.

Pros:

  • High customer satisfaction
  • Competitive affordability
  • Solid financial stability

Cons:

  • Room for improvement in the buying process

Best No-Medical-Exam Life Insurance in Salem, OR

How was this MoneyGeek score calculated?

In Salem, Protective offers the best no-medical-exam life insurance for both men and women, with a MoneyGeek score of 91. This score reflects the company's strong performance across various metrics.

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

An individual might opt for the best no-medical exam-life insurance over traditional policies to save time and avoid the discomfort of having to deal with a medical exam.

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MoneyGeek Top Pick
Protective

Protective emerges as the leading provider of no-medical-exam life insurance in Salem, securing the highest MoneyGeek scores for both men and women at 91. This reflects their commitment to delivering exceptional value and service across the board.

Pros:

  • High customer satisfaction
  • Strong affordability
  • Solid 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 Salem, OR

How was this MoneyGeek score calculated?

In Salem, the best term life insurance for seniors is Protective. It earns a MoneyGeek score of 91 and has an average monthly premium of $31 for men and $29 for women. Age is a pivotal factor in determining life insurance premiums, with older individuals typically facing higher rates due to increased risk.

Best Term Life Insurance for Seniors in Salem
Data filtered by:Results filtered by:
gender:
gender:M
1CompanyProtectivePremium$31MG Score out of 10091
2CompanyMutual of OmahaPremium$30MG Score out of 10091
3CompanyNationwidePremium$36MG Score out of 10089
4CompanyAllstatePremium$28MG Score out of 10089
5CompanyAAAPremium$40MG Score out of 10087
6CompanyPrudentialPremium$35MG Score out of 10086
7CompanyState FarmPremium$56MG Score out of 10084
8CompanyHavenPremium$57MG Score out of 10082

Best Term Life Insurance for Smokers in Salem, OR

How was this MoneyGeek score calculated?

In Salem, Mutual of Omaha stands out for those seeking the best term life insurance for smokers. Its MoneyGeek score is 92 for men with a monthly premium of $31, and 91 for women with a premium of $30.

Smoking significantly impacts life insurance costs due to the heightened health risks it poses, leading to higher premiums for smokers compared to non-smokers.

Best Term Life Insurance for Smokers in Salem
Data filtered by:Results filtered by:
gender:
gender:M
1CompanyMutual of OmahaPremium$31MG Score out of 10092
2CompanyNationwidePremium$42MG Score out of 10088
3CompanyProtectivePremium$49MG Score out of 10088
4CompanyPrudentialPremium$31MG Score out of 10087
5CompanyState FarmPremium$47MG Score out of 10085
6CompanyAllstatePremium$46MG Score out of 10085
7CompanyAAAPremium$59MG Score out of 10085
8CompanyHavenPremium$54MG Score out of 10083

Best Term Life Insurance for Young Adults in Salem, OR

How was this MoneyGeek score calculated?

For the best term life insurance for young adults in Salem, Protective stands out with a MoneyGeek score of 92 for both men and women. The average monthly premium for both is $4. Age plays a crucial role in determining life insurance premiums.

Younger adults benefit from lower premiums due to their lower risk profile. Protective achieves its top ranking due to its affordability, high customer satisfaction and solid financial stability.

Best Term Life Insurance for Young Adults in Salem
Data filtered by:Results filtered by:
Sex:
Sex:M
1CompanyProtectivePremium$4MG Score out of 10092
2CompanyMutual of OmahaPremium$5MG Score out of 10092
3CompanyNationwidePremium$6MG Score out of 10090
4CompanyAAAPremium$6MG Score out of 10089
5CompanyAllstatePremium$4MG Score out of 10089
6CompanyState FarmPremium$9MG Score out of 10087
7CompanyPrudentialPremium$7MG Score out of 10087
8CompanyHavenPremium$6MG Score out of 10086
9CompanyBestowPremium$21MG Score out of 10083

Best Cheap Term Life Insurance in Salem, OR

How was this MoneyGeek score calculated?

In Salem, Protective offers the best cheap term life insurance for both men and women, boasting a MoneyGeek score of 92 and an average monthly premium of $7. When searching for the best cheap term life insurance, it's important to understand the factors influencing premiums.

Age, health, coverage amount and term length all play a role in determining costs. For Salem residents, choosing Protective means getting reliable coverage at a competitive rate, making it a top choice for those seeking value and peace of mind.

Best Cheap Term Life Insurance in Salem
Data filtered by:Results filtered by:
Sex:
Sex:M
1CompanyProtectivePremium$7MG Score out of 10092
2CompanyMutual of OmahaPremium$7MG Score out of 10092
3CompanyAllstatePremium$7MG Score out of 10091
4CompanyNationwidePremium$9MG Score out of 10089
5CompanyAAAPremium$9MG Score out of 10088
6CompanyPrudentialPremium$10MG Score out of 10085
7CompanyHavenPremium$11MG Score out of 10084
8CompanyState FarmPremium$14MG Score out of 10082

Average Cost of Term Life Insurance in Salem, OR

The average monthly premium for term life insurance in Salem is $13 for women and $15 for men. Several factors can influence the cost of life insurance premiums, including age, health, lifestyle, occupation and the amount of coverage desired.

Each of these elements can significantly impact the final premium cost. For various reasons, the cost of life insurance in Salem might be higher or lower compared to the rest of Oregon. Local health statistics can play a role, as areas with higher health risks may see increased premiums.

Economic factors, such as the average income level and cost of living, can also influence insurance costs. Additionally, demographic trends, including the age distribution and lifestyle habits of the population, may affect premium rates. Understanding these factors can help consumers make more informed decisions when purchasing life insurance.

FAQ About Life Insurance in Salem, OR

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

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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