Best Life Insurance Companies in Cincinnati, OH

Having life insurance can financially protect your beneficiaries from the loss of your income after you pass away. If you’re planning on buying a policy, plenty of companies offer life insurance in Cincinnati. To help make the process easier for you, MoneyGeek analyzed average rates and found the best life insurance companies in Cincinnati based on age, gender and smoking history.

Several variables affect the cost of life insurance, including gender and the coverage amount. After comparing several life insurance companies in Cincinnati, MoneyGeek found MassMutual has the most affordable $250,000 policy for both men and women, with an average monthly rate of $10 and $9, respectively.

Although a policy with $250K in coverage is less expensive, it may not provide adequate financial support for your dependents. You should consider Ohio’s recommended coverage amount of $614,000 ⁠— based on the cost of living, average income, average personal debt, average age and other state-specific factors.

At the $614K coverage level, Nationwide is the cheapest life insurance company in Cincinnati, offering a policy at an average cost of $15 per month for men and $13 per month for women.

Your gender can mean lower or higher life insurance costs, as can your location in Ohio. Based on MoneyGeek’s analysis, men in Cincinnati pay around 3% less than the average for Ohio. Meanwhile, women pay roughly 4% less.

MoneyGeek compared average life insurance rates for men and women in Cincinnati based on coverage amount and policy term. For a policy with $250K coverage, men pay around $19 per month, whereas women pay approximately $16 per month.

Meanwhile, a policy with Ohio’s recommended coverage amount of $614,000 has an average monthly cost of $34 for men and $30 for women in Cincinnati.

As for policy length, a 10-year term policy costs men an average of $23 per month and women $20 per month on average.

Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Cincinnati using average buyer profile statistics, including the average age of 31, the average weight of 200 pounds for males and 159 pounds for females, and an average coverage need of $614,000.

MoneyGeek analyzed which life insurance companies in Ohio have the largest market share. We found Northwestern Mutual at around 8%, Lincoln Financial at roughly 7% and State Farm at nearly 5% are the most popular insurers in the state.

Overall, the seven most popular life insurance carriers in Ohio take up around 35% of the state’s life insurance market. MoneyGeek listed the seven most popular companies in the table below with their market shares.

In Cincinnati, the average cost of life insurance for young people ranges from $13 to $22 per month. MoneyGeek found, on average, that the two companies offering the cheapest life insurance in Cincinnati for young people are:

• Transamerica: $13 per month
• Mutual of Omaha: $15 per month

The table below provides the complete list of the cheapest life insurance companies in Cincinnati for young people.

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Cincinnati who is 5 feet 10 inches tall and weighs 170 pounds with a 20-year term contract at the average needed coverage amount of $270,000. We chose a 20-year term to provide a longer coverage period for a younger buyer.

For seniors, the average cost of life insurance in Cincinnati is as low as $37 per month or as high as $77 per month. According to MoneyGeek’s analysis, on average, the most affordable companies for older adults in need of life insurance in Cincinnati are:

• MassMutual: $37 per month
• Mutual of Omaha: $42 per month

Review the table below for the complete list of the cheapest life insurance companies in Cincinnati for seniors.

Rates were determined by analyzing quotes for a 60-year-old male non-smoker in Cincinnati who is 5 feet 10 inches tall and weighs 200 pounds with a 10-year term contract containing the average needed coverage amount of $80,000.

The average cost of life insurance for smokers in Cincinnati is between $103 and $188 per month. Based on MoneyGeek’s research, on average, the two companies offering the lowest life insurance policy rate for those who smoke in Cincinnati are:

• MassMutual: $103 per month
• State Farm: $104 per month

Check the table below for more of the cheapest life insurance companies in Cincinnati for smokers.

Rates were determined by analyzing quotes for a 31-year-old male smoker in Cincinnati who is 5 feet 10 inches tall and weighs 200 pounds with a 20-year term contract that has the average needed coverage amount of $614,000.

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.