Best Life Insurance Companies in Boise City, ID

The typical life insurance cost for companies in Boise City can be as little as around $11 per month for a $250K policy or approximately $19 per month for Idaho's recommended coverage level. According to MoneyGeek's analysis, Transamerica is the best life insurance company in Boise City for the average adult. It is also the best for smokers, while MassMutual is the best for seniors and young people.

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Advertising & Editorial DisclosureLast Updated: 12/22/2022
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Everyone's motivation for buying life insurance is unique. It provides financial stability and aids in paying off debts, living expenses and any final costs. You can find the best life insurance company in Boise City by shopping around and comparing prices.

You can review the best life insurance companies in Boise City using MoneyGeek's analysis of average prices based on your age, gender and smoking history.

iconBestLife InsuranceBoise City, ID
2023

Best Life Insurance Companies in Boise City, ID, for 2023

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Best Cheap Life Insurance in Boise City

In Boise City, Transamerica offers the most affordable $250K coverage, with monthly premiums averaging $11 for men and $10 for women.

Despite being less expensive, a policy with a $250K coverage maximum might not be adequate. The average suggested value for the state, which in Idaho is $667K, is based on state-specific factors.

For the recommended coverage amount in Idaho, the cheapest life insurance in Boise City for men and women is from Transamerica at around $19 and $17 per month, respectively.

Cheapest Life Insurance Companies for Males and Females in Boise City
  • Cheapest For
    $250K Coverage
    $667K Coverage (Recommended)
  • Male

    Transamerica

    Transamerica

  • Female

    Transamerica

    Transamerica

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Life Insurance Costs in Boise City for Men and Women

The cost of life insurance varies by gender. For instance, in Boise City, men pay 11% more than the state average, compared to 14% more for women.

Men in Boise City pay an average of $19 per month for coverage up to $250K, compared to around $16 for women.

These rates change significantly if you use Idaho's recommended coverage level, which is based on per capita income from the U.S. Bureau of Economic Analysis, average mortgage debt, personal debt and age.

Based on the estimated $667K in recommended coverage, the average monthly cost of a policy in Idaho is $30 for women and $35 for men. Meanwhile, the average cost of 10-year term insurance for men and women is $23 and $20 per month, respectively, regardless of the coverage level.

Average Monthly Life Insurance Rates in Boise City: Men

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Transamerica
    $11
    $19
  • Nationwide
    $13
    $21
  • MassMutual
    $12
    $21
  • Mutual of Omaha
    $13
    $22
  • AAA
    $15
    $25
  • State Farm
    $20
    $37
  • Prudential
    $32
    $40
  • Progressive Life
    $18
    $55
Average Monthly Life Insurance Rates in Boise City: Women

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Transamerica
    $10
    $17
  • Nationwide
    $13
    $18
  • Mutual of Omaha
    $13
    $18
  • MassMutual
    $12
    $19
  • AAA
    $14
    $24
  • Prudential
    $12
    $30
  • State Farm
    $21
    $34
  • Progressive Life
    $17
    $44

Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Boise City using average buyer profile statistics, including the average age of 30, the average weight of 189 pounds for males and 149 pounds for females, and an average coverage need of $667,000.

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LIFE INSURANCE OFTEN COSTS LESS FOR WOMEN

Gender has a significant impact on the price of life insurance. Women frequently live longer than males, so they pay less. In general, men are more likely to engage in dangerous activities and work in dangerous environments. Because of this, insurers impose higher premiums on them.

According to research, males are more inclined than women to buy life insurance. Nevertheless, any working woman should think about purchasing life insurance to protect her income in the event of death or disability, regardless of who the family's primary provider is.

Most Popular Life Insurance Companies in Idaho

Based on average market shares, Northwestern Mutual (15%), Mass Mutual (5%) and New York Life (4%) are the top three life insurance companies in Idaho. The top seven companies in Idaho collectively control around 39% of the market.

The MoneyGeek chart below lists the top life insurance providers in Idaho, along with their market shares.

Most Popular Life Insurance Companies in Idaho

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  • Company
    Market Share
  • Northwestern Mutual
    15%
  • MassMutual
    5%
  • Pacific Life
    4%
  • Iowa Farm Bureau Federation
    4%
  • State Farm
    4%
  • New York Life
    4%
  • Sammons Enterprises Inc.
    3%
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MONEYGEEK DICTIONARY

Market share, which is the percentage of sales compared to competitors in its industry, is frequently used to gauge how strong a company is in the marketplace. A company that has a significant life insurance market share likely sold more policies than its competitors.

The total premiums paid by each company, as reported in the S&P Global 2020 state reports, are the source of MoneyGeek's market share data.

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Cheapest Life Insurance for Young People in Boise City

Younger folks in Boise City could pay life insurance rates that vary from about $17 to $49 per month. The two most affordable life insurance companies in Boise City for young individuals are, on average:

  • MassMutual: $17 monthly
  • AAA: $18 monthly

You can compare other life insurance quotes for young people in Boise City in the MoneyGeek table below.

Best Life Insurance Companies for Young People in Boise City, ID

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  • Company
    Monthly Cost
  • MassMutual
    $17
  • AAA
    $18
  • Nationwide
    $21
  • Transamerica
    $23
  • Mutual of Omaha
    $23
  • State Farm
    $23
  • Progressive Life
    $24
  • Prudential
    $49

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Boise City who is 5 feet 10 inches and 160 pounds that purchases a 20-year term contract at the average coverage need of $240,000. We chose a 20-year term to provide a longer coverage period for a younger buyer.

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LIFE INSURANCE IS CHEAPER FOR YOUNG PEOPLE

People under the age of 25 pay less for life insurance. Your insurance costs will increase as you age and become more prone to certain illnesses. Purchasing life insurance when you are young can help you provide financial security for your family and is one of the best ways to save money on this important insurance coverage.

Cheapest Life Insurance for Seniors in Boise City

Senior life insurance rates in Boise City typically range from $43 to $88 monthly. On average, the top two most affordable life insurance companies in Boise City for seniors are as follows:

  • MassMutual: $43 monthly
  • Mutual of Omaha: $48 monthly

The MoneyGeek table below has more details regarding the best and most affordable senior life insurance companies in Boise City.

Best Life Insurance Companies for Seniors in Boise City, ID

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  • Company
    Monthly Cost
  • MassMutual
    $43
  • Mutual of Omaha
    $48
  • Nationwide
    $49
  • AAA
    $50
  • State Farm
    $51
  • Progressive Life
    $77
  • Transamerica
    $79
  • Prudential
    $88

Rates were determined by analyzing quotes for a 60-year-old male non-smoker in Boise City who is 5 feet 10 inches and 189 pounds that purchases a 10-year term contract at the average coverage need of $73,000.

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LIFE INSURANCE COSTS MORE FOR SENIORS

Senior life insurance prices are higher since your policy is more likely to outlive you as you age. However, seniors generally do not need as much coverage because their beneficiaries are more likely to be financially independent adults.

Senior life insurance plans typically pay for things like funeral fees, estate taxes and other related costs. As a result, the sample senior insurance coverage provided by MoneyGeek is lower than the amount used for other profiles.

Cheapest Life Insurance for Smokers in Boise City

The average monthly cost of life insurance for smokers in Boise City is from $100 to $189. The following life insurance providers offer the most affordable average rates in Boise City for smokers:

  • Transamerica: $100 monthly
  • Nationwide: $119 monthly

See the chart below for further details on the city's most reasonably priced insurers for smokers.

Best Life Insurance Companies for Smokers in Boise City, ID

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  • Company
    Monthly Cost
  • Transamerica
    $100
  • Nationwide
    $119
  • MassMutual
    $121
  • State Farm
    $121
  • Mutual of Omaha
    $132
  • AAA
    $139
  • Prudential
    $151
  • Progressive Life
    $189

Rates were determined by analyzing quotes for a 30-year-old male smoker in Boise City who is 5 feet 10 inches and 189 pounds that purchases a 20-year term contract at the average coverage need of $667,000. If you are a smoker, we suggest buying a longer-term (20-year) policy to provide longer coverage as rates for smokers increase dramatically as you age.

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LIFE INSURANCE IS VERY EXPENSIVE FOR SMOKERS

Smokers are subject to higher premiums from insurers because they are deemed high risk because of the long-term effects of smoking on one's health. Smokers pay almost four times as much per month on average for life insurance as non-smokers do. Despite this, smokers can still afford life insurance. MoneyGeek advises buying insurance for a longer duration (at least 20 years), as smoking raises your premiums as you age.

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Methodology

MoneyGeek determined the recommended life insurance coverage by factoring in per capita income from the U.S. Bureau of Economic Analysis, average mortgage debt, average personal debt and average age. Keep in mind that each buyer is unique and may need more or less coverage depending on their specific circumstances.

About the Author


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Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.


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