Best Life Insurance Companies in Brownsville, TX

According to MoneyGeek’s industry-wide research, an average adult will find that MassMutual is the best and cheapest life insurance company in Brownsville, Texas. MassMutual is also the top option for seniors and smokers, but Transamerica provides the best rates for young adults.

The average cheapest life insurance in Brownsville is $8 per month for a $250,000 coverage limit policy and $14 for the state-recommended coverage amount of $719,000.

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Advertising & Editorial DisclosureLast Updated: 12/23/2022
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There are many benefits to getting a life insurance policy. The most important is that a policy can help cushion the financial impact of your death, especially if you have dependents, such as young children.

MoneyGeek’s guide helps you find the best life insurance companies in Brownsville, Texas, using an extensive analysis of average rates from a wide range of providers based on various ages and genders, as well as those who smoke.

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2023

Best Life Insurance Companies in Brownsville, TX, for 2023

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Best Cheap Life Insurance in Brownsville

Your gender and coverage amount largely determine how much your life insurance in Brownsville costs.

For $250,000 coverage in Brownsville, the cheapest life insurance company is MassMutual, with an average monthly premium of $8 for men and $7 for women.

You may pay less for a $250K policy, but it may not be enough. MoneyGeek recommends that you purchase a life insurance policy with Texas’ recommended coverage amount of $719,000. This was calculated using state-specific factors, such as cost of living, average income and average personal debt, which means it suits most people in Texas.

At this coverage amount, the lowest average monthly premium for men is from MassMutual at $14 and, for women, Nationwide at $11.

Cheapest Life Insurance Companies for Males and Females in Brownsville
  • Cheapest For
    $250K Coverage
    $719K Coverage (Recommended)
  • Male

    MassMutual

    MassMutual

  • Female

    MassMutual

    Nationwide

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Life Insurance Costs in Brownsville for Men and Women

Insurers factor in your gender when computing your life insurance policy premium. Males in Brownsville pay around 22% less than the average statewide premium in Texas. Meanwhile, women in Brownsville have rates that are around 30% lower than the state average.

A policy with $250,000 coverage in Brownsville costs $14 per month for men and $11 per month for women, on average.

A better alternative that is worth exploring is getting a policy with Texas’ state-recommended coverage amount of $719,000. It considers state-specific factors, such as per capita income from the U.S. Bureau of Economic Analysis, average personal and mortgage debt and average age.

Although this life insurance coverage option is more expensive at an average monthly cost of $31 for men and $23 for women, it is generally considered enough coverage for most people in Texas.

Regardless of the coverage amount, a 10-year term policy costs an average of $19 per month for men and $15 per month for women.

Average Monthly Life Insurance Rates in Brownsville: Men

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • MassMutual
    $8
    $14
  • Nationwide
    $8
    $14
  • Mutual of Omaha
    $9
    $15
  • Transamerica
    $11
    $23
  • State Farm
    $14
    $29
  • AAA
    $15
    $34
  • Progressive Life
    $17
    $37
  • Prudential
    $20
    $43
Average Monthly Life Insurance Rates in Brownsville: Women

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Nationwide
    $7
    $11
  • Mutual of Omaha
    $7
    $11
  • MassMutual
    $7
    $11
  • Transamerica
    $9
    $17
  • State Farm
    $14
    $23
  • AAA
    $12
    $26
  • Progressive Life
    $11
    $27
  • Prudential
    $13
    $36

Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Brownsville using average buyer profile statistics, including the average age of 28, the average weight of 197 pounds for males and 156 pounds for females, and an average coverage need of $719,000.

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LIFE INSURANCE OFTEN COSTS LESS FOR WOMEN

One of the most important determinants of your life insurance cost is your gender. Most insurers charge higher rates for men because men’s life expectancy is typically shorter than women’s. Several reasons may help explain why women tend to outlive men, such as men being less socially connected and, therefore, more inclined to commit suicide, as well as being more likely to engage in risky behaviors or have more dangerous jobs.

Although women tend to live longer, studies have revealed that women are less likely than men to have life insurance. MoneyGeek strongly encourages women to purchase life insurance as a financial safety net that can protect their loved ones in the event of their passing.

Most Popular Life Insurance Companies in Texas

The top three insurance companies by market share in Texas are Northwestern Mutual (around 7%), New York Life (over 6%) and Lincoln Financial (nearly 6%).

The seven most popular companies in Texas account for roughly 35% of the total market share in the state. You can see the most popular life insurance carriers in Texas and their market shares in the table below.

Most Popular Life Insurance Companies in Texas

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  • Company
    Market Share
  • Northwestern Mutual
    7%
  • Lincoln Financial
    6%
  • New York Life
    6%
  • Transamerica
    4%
  • MassMutual
    4%
  • Pacific Life
    4%
  • State Farm
    4%
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MONEYGEEK DICTIONARY

A good way to get an idea of a company’s popularity and size is through its market share. That is the percentage of sales that a company gets out of the total sales within its specific industry. For example, a life insurance company that holds a 50% market share earns half of the total sales for all life insurance products within the state or country.

MoneyGeek’s analysis used market share data based on total premiums in the 2020 state reports from S&P Global.

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Cheapest Life Insurance for Young People in Brownsville

On average, young adults in Brownsville pay anywhere from $11 to $18 per month for life insurance.

The most affordable life insurance companies in Brownsville for young people, on average, are:

  • Transamerica: $11 per month
  • Mutual of Omaha: $12 per month

Below is MoneyGeek’s summary table with a complete list of the life insurance providers and their respective rates for young adults aged 25 and below in Brownsville.

Best Life Insurance Companies for Young People in Brownsville, TX

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  • Company
    Monthly Cost
  • Transamerica
    $11
  • Mutual of Omaha
    $12
  • MassMutual
    $12
  • AAA
    $13
  • Prudential
    $14
  • Nationwide
    $15
  • State Farm
    $17
  • Progressive Life
    $18

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Brownsville who is 5 feet 10 inches tall and weighs 167 pounds with a 20-year term contract at the average coverage need of $270,000. 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

Policies are substantially cheaper for people who are 25 years old and younger compared to other age groups. But, premiums get more expensive as the policyholder gets older and becomes more likely to develop age- and lifestyle-related illnesses. Therefore, one of the best financial strategies is to purchase life insurance at a young age. Doing so will let you enjoy the benefits of a lower rate for a longer period.

Cheapest Life Insurance for Seniors in Brownsville

Life insurance for seniors in Brownsville costs roughly $30 to $62 a month.

MoneyGeek found that, on average, the cheapest life insurance companies for seniors in Brownsville are:

  • MassMutual: $30 per month
  • Mutual of Omaha: $34 per month

Our table below shows a complete list of the life insurance providers for seniors in Brownsville with their respective rates.

Best Life Insurance Companies for Seniors in Brownsville, TX

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  • Company
    Monthly Cost
  • MassMutual
    $30
  • Mutual of Omaha
    $34
  • Nationwide
    $35
  • State Farm
    $40
  • Progressive Life
    $54
  • AAA
    $57
  • Transamerica
    $62
  • Prudential
    $62

Rates were determined by analyzing quotes for a 60-year-old male non-smoker in Brownsville who is 5 feet 10 inches tall and weighs 197 pounds with a 10-year term contract at the average coverage need of $82,000.

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LIFE INSURANCE COSTS MORE FOR SENIORS

Insurance providers use age to determine how risky it is to cover an individual. Seniors get a higher risk label because their policy is likely to outlive them, so they pay more.

But seniors can save on their policies by getting less coverage. Most elderly individuals do not need a large amount of life insurance since their children are no longer financially dependent on them. Therefore, their policies are only meant to pay for funeral and burial arrangements, for example, which is not a substantial cost.

With this in mind, MoneyGeek’s sample coverage policy amount for seniors is less than the coverage for other ages.

Cheapest Life Insurance for Smokers in Brownsville

Smokers in Brownsville pay anywhere from around $89 to $164 monthly for a life insurance policy.

MoneyGeek found that the following life insurance companies offer the average lowest rates for smokers in Brownsville:

  • MassMutual: $89 per month
  • State Farm: $90 per month

The table below shows MoneyGeek’s complete list of the life insurance companies in Brownsville for smokers with their respective rates.

Best Life Insurance Companies for Smokers in Brownsville, TX

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  • Company
    Monthly Cost
  • MassMutual
    $89
  • State Farm
    $90
  • Nationwide
    $90
  • Transamerica
    $100
  • Mutual of Omaha
    $100
  • Progressive Life
    $140
  • Prudential
    $149
  • AAA
    $164

Rates were determined by analyzing quotes for a 28-year-old male smoker in Brownsville who is 5 feet 10 inches tall and weighs 197 pounds with a 20-year term contract at the average coverage need of $719,000.

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LIFE INSURANCE IS VERY EXPENSIVE FOR SMOKERS

Smokers are riskier to insure since the habit predisposes them to many serious and long-term health risks that could ultimately shorten their lifespan. To offset this increased risk, companies require them to pay more for life insurance.

There are options for cheap life insurance for individuals who smoke. MoneyGeek also recommends buying a longer-term policy — at least a 20-year term — to shield against the dramatic increases in rates that insurers typically charge smokers as they 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


Mark Fitzpatrick headshot

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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