Protective Insurance offers the best life insurance in Minnesota and nationwide, earning a MoneyGeek score of 4.7 out of 5 for customer service, affordability, and coverage options. We also recommend Guardian Life, Lincoln Financial and Prudential as some of the best affordable alternatives.
Best Life Insurance Companies in Minnesota (2025)
MoneyGeek scored the best life insurance companies in Minnesota based on thousands of quotes and reviews to help you find your ideal policy.
Discover affordable life insurance in Minnesota below.
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Updated: October 25, 2025
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Key Takeaways
Life insurance rates don’t change by state, but in Minnesota, the best providers are Protective Insurance, Guardian Life, Lincoln Financial and Prudential.
Lincoln Financial delivers the cheapest life insurance options in Minnesota and nationwide, with monthly rates averaging $35 (men) and $30 (women).
The top life insurance company in Minnesota depends on your coverage needs**. Legal & General** leads for term life insurance, and Pacific Life excels at no-exam term coverage. North American, Ethos and Mutual of Omaha offer the strongest permanent life insurance options for Minnesota residents.
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
Overall | Protective Insurance | 4.7 | $44 (men) $37 (women) | $532 (men) $443 (women) |
Customer Experience | Guardian Life | 4.6 | $51 (men) $40 (women) | $612 (men) $480 (women) |
Affordability | Lincoln Financial | 4.5 | $35 (men) $30 (women) | $417 (men) $359 (women) |
Coverage Options | Prudential | 4.1 | $61 (men) $48 (women) | $735 (men) $578 (women) |
Rates are based on average quotes for adult (ages 30–49) nonsmokers with a $500,000 20-year term policy. These are estimates based on MoneyGeek's analysis and may not reflect your actual premium. Actual rates vary based on health, lifestyle, and other underwriting factors. Contact insurers directly for personalized quotes.
Best Overall: Protective
Protective
MoneyGeek Rating
4.7/ 5
4.8/5Affordability
4.6/5Customer Experience
4.3/5Coverage Options
Average Monthly Cost
$44 (men); $37 (women)Based on a 20-year term policy with $500,000 coverage amount for adult (ages 30–49) nonsmokers with average weight and health ratings.Average Annual Cost
$532 (men); $443 (women)Based on a 20-year term policy with $500,000 coverage amount for adult (ages 30–49) nonsmokers with average weight and health ratings.
Best Customer Experience: Guardian Life
Guardian Life
MoneyGeek Rating
4.6/ 5
4.6/5Affordability
4.9/5Customer Experience
4/5Coverage Options
Average Monthly Cost
$51 (men); $40 (women)Based on a 20-year term policy with $500,000 coverage amount for adult (ages 30–49) nonsmokers with average weight and health ratings.Average Annual Cost
$612 (men); $480 (women)Based on a 20-year term policy with $500,000 coverage amount for adult (ages 30–49) nonsmokers with average weight and health ratings.
Best for Affordability: Lincoln Financial
Lincoln Financial
MoneyGeek Rating
4.5/ 5
5/5Affordability
3.6/5Customer Experience
4.5/5Coverage Options
Average Monthly Cost
$35 (men); $30 (women)Based on a 20-year term policy with $500,000 coverage amount for adult (ages 30–49) nonsmokers with average weight and health ratings.Average Annual Cost
$417 (men); $359 (women)Based on a 20-year term policy with $500,000 coverage amount for adult (ages 30–49) nonsmokers with average weight and health ratings.
Best Coverage Options: Prudential
Prudential
MoneyGeek Rating
4.1/ 5
4.2/5Affordability
3.4/5Customer Experience
4.8/5Coverage Options
Average Monthly Cost
$61 (men); $48 (women)Based on a 20-year term policy with $500,000 coverage amount for adult (ages 30–49) nonsmokers with average weight and health ratings.Average Annual Cost
$735 (men); $578 (women)Based on a 20-year term policy with $500,000 coverage amount for adult (ages 30–49) nonsmokers with average weight and health ratings.
Best Life Insurance in Minnesota by Policy Type
While the top life insurance provider is a great option for many, your best choice might differ based on your needs. Below, we dive into the leading providers tailored for different policy types.
Whole and Universal | North American | 5 | Whole: $691 (men) $602 (women) Universal: $295 (men) $251 (women) | Whole: $8,287 (men) $7,221 (women) Universal: $3,535 (men) $3,016 (women) |
Indexed Universal | Ethos | 5 | $328 (men) $275 (women) | $3,935 (men) $3,297 (women) |
Term | Legal & General | 4.7 | $44 (men) $35 (women) | $523 (men) $415 (women) |
Guaranteed Acceptance | Mutual of Omaha | 4.7 | $40 (men) $30 (women) | $482 (men) $365 (women) |
No-Exam | Pacific Life | 4.5 | $47 (men) $39 (women) | $566 (men) $464 (women) |
Rates are estimates based on MoneyGeek's analysis and may not reflect your actual premium. Individual rates vary based on health, lifestyle, and other underwriting factors. Contact insurers directly for personalized quotes.
Best Whole and Universal: North American
North American
MoneyGeek Rating
5/ 5
5/5Affordability
5/5Customer Experience
5/5Coverage Options
Average Monthly Cost
Whole: $691 (men); $602 (women) Universal: $295 (men); $251 (women)Based on average quotes for adult (ages 30–49) nonsmokers with $500,000 coverage amount.Average Annual Cost
Whole: $8,287 (men); $7,221 (women) Universal: $3,535 (men); $3,016 (women)Based on average quotes for adult (ages 30–49) nonsmokers with $500,000 coverage amount.
Best Indexed Universal: Ethos
Ethos
MoneyGeek Rating
5/ 5
5/5Affordability
5/5Customer Experience
5/5Coverage Options
Average Monthly Cost
$328 (men); $275 (women)Based on average quotes for adult (ages 30–49) nonsmokers with $500,000 coverage amount.Average Annual Cost
$3,935 (men); $3,297 (women)Based on average quotes for adult (ages 30–49) nonsmokers with $500,000 coverage amount.
Best Term: Legal & General
Legal & General
MoneyGeek Rating
4.7/ 5
4.7/5Affordability
4.7/5Customer Experience
4.7/5Coverage Options
Average Monthly Cost
$44 (men); $35 (women)Based on average quotes for an adult (ages 30–49) nonsmoker with a 20-year term policy and $500,000 coverage amount.Average Annual Cost
$523 (men); $415 (women)Based on average quotes for an adult (ages 30–49) nonsmoker with a 20-year term policy and $500,000 coverage amount.
Best Guaranteed Acceptance: Mutual of Omaha
Mutual of Omaha
MoneyGeek Rating
4.7/ 5
4.9/5Affordability
4.5/5Customer Experience
4.8/5Coverage Options
Average Monthly Cost
$40 (men); $30 (women)Based on average quotes for 50-year-old nonsmokers with $10,000 coverage amount.Average Annual Cost
$482 (men); $365 (women)Based on average quotes for 50-year-old nonsmokers with $10,000 coverage amount.
Best No-Exam Term: Pacific Life
Pacific Life
MoneyGeek Rating
4.5/ 5
4.4/5Affordability
4.5/5Customer Experience
4.7/5Coverage Options
Average Monthly Cost
$47 (men); $39 (women)Based on average quotes for a 40-year-old with a 20-year term policy and $500,000 coverage amount.Average Annual Cost
$566 (men); $464 (women)Based on average quotes for a 40-year-old with a 20-year term policy and $500,000 coverage amount.
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 profile.
Data filtered by:
Select
Female
$100,000
10 years
| Lincoln Financial | 4 | 48 |
| Foresters Financial | 4 | 53 |
| Assurity | 4 | 54 |
| Protective Insurance | 5 | 58 |
| North American | 5 | 58 |
| Midland National | 5 | 58 |
| Cincinnati Life | 5 | 60 |
| Prudential | 5 | 66 |
| CoreBridge | 6 | 70 |
| SBLI | 6 | 71 |
| Legal & General | 6 | 73 |
| Ameritas | 6 | 75 |
| Columbus Life | 6 | 75 |
| Pacific Life | 6 | 76 |
| Mutual of Omaha | 6 | 77 |
| Gerber Life (Fabric) | 7 | 78 |
| AAA | 7 | 78 |
| Life Insurance Co of The South West | 6 | 80 |
| National Life Group | 6 | 80 |
| Transamerica | 7 | 87 |
| Nationwide | 8 | 93 |
| Fidelity Life | 8 | 97 |
| John Hancock | 9 | 103 |
| Ethos | 16 | 195 |
Rates are based on a term life insurance policy for nonsmokers with average weight and health ratings. Individual costs will vary based on policy type and your profile.
Rates in this table may differ from those mentioned in the best companies' profiles, as we used an age range of 30-49 for main comparisons, while this shows average rates for ages 20, 30, 40, 50, 60 and 70.
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:
- 1Decide 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. Use our life insurance needs calculator to quickly calculate your coverage needs.
- 2Research 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.
- 3Compare 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.
- 4Compare 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 life insurance companies are Protective Insurance, Guardian Life, Lincoln Financial, Prudential, North American, Ethos, Legal & General, Mutual of Omaha and Pacific Life, 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, Protective Insurance 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
Minnesota residents need life insurance companies that offer competitive rates and dependable service when beneficiaries file claims. Our research focused on identifying insurers that excel in both areas while maintaining strong financial foundations.
We evaluated companies using a weighted scoring system:
- Affordability: 55%
- Customer experience: 30%
- Coverage options: 15%
Sample Profile Details
- Nonsmoker
- Average health rating
- 5'9" tall, 160 pounds
We varied this profile across age groups, gender, health ratings, tobacco use, and geographic regions to capture diverse pricing scenarios.
Our final rankings reflect averaged quotes from adults ages 30–49, representing the core demographic seeking life insurance coverage.
Research Components:
- Rate collection through online quote systems for term and permanent policies
- Financial strength analysis using A.M. Best ratings and company longevity data
- Customer satisfaction measurement via NAIC complaint ratios and J.D. Power scores
- Digital experience evaluation, including online materials and payment flexibility
- Product range assessment across different life insurance types
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.