Best Life Insurance Companies in Corona, CA

MoneyGeek recommends Transamerica as the best overall insurer as well as the ideal option for young adults, seniors and smokers if you're shopping for the top life insurance companies in Corona, California. Average monthly costs in Corona vary from around $11 for a $250K coverage insurance to approximately $23 for state-recommended coverage.

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Advertising & Editorial DisclosureLast Updated: 12/23/2022
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Life insurance is important because it provides financial support to your beneficiaries after your death. Since the cost of life insurance is determined by factors like your age and lifestyle, it is wise to get quotes from many different companies to find the ideal coverage for you.

MoneyGeek researched several Corona, California, life insurance carriers, their quotes and the type of consumer they are most suited for in this guide.

MoneyGeek Logo IconBestLife InsuranceCorona, CA
2023

Best Life Insurance Companies in Corona, CA, for 2023

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Best Cheap Life Insurance in Corona

Life insurance premiums in Corona tend to be higher for males than for women. Men and women can get $250K coverage for as low as around $11 per month and approximately $8 per month from Transamerica, respectively.

$250K in insurance coverage is inexpensive but may not be sufficient. Based on state-specific factors, the recommended coverage amount in California is $1,130,000.

Transamerica is the cheapest option for this coverage level when it comes to life insurance for men (around $23 per month) and women (roughly $16 per month).

Cheapest Life Insurance Companies for Males and Females in Corona
  • Cheapest For
    $250K Coverage
    $1,130,000 Coverage (Recommended)
  • Male

    Transamerica

    Transamerica

  • Female

    Transamerica

    Transamerica

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Life Insurance Costs in Corona for Men and Women

The average cost of life insurance varies based on the policyholder’s gender. Women in Corona pay around 5% less than the state average in California, while men pay approximately 10% more.

Women pay $14 per month on average for coverage worth $250K, while men pay approximately $18 per month.

Based on the amount of coverage recommended by the state (determined by per capita income from the U.S. Bureau of Economic Analysis, average mortgage debt, average personal debt and average age), the state of California's recommended coverage level of $1,130,000 costs around $43 for women and approximately $48 for men.

10-year term insurance, regardless of coverage limit, costs an average of $25 per month for women and $28 per month for men.

Average Monthly Life Insurance Rates in Corona: Men

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Transamerica
    $11
    $23
  • Nationwide
    $13
    $25
  • MassMutual
    $12
    $29
  • Mutual of Omaha
    $13
    $29
  • AAA
    $15
    $33
  • State Farm
    $19
    $43
  • Prudential
    $31
    $58
  • Progressive Life
    $18
    $68
Average Monthly Life Insurance Rates in Corona: Women

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Transamerica
    $8
    $16
  • Nationwide
    $10
    $17
  • Mutual of Omaha
    $10
    $18
  • MassMutual
    $9
    $19
  • Progressive Life
    $11
    $45
  • AAA
    $16
    $46
  • State Farm
    $19
    $55
  • Prudential
    $18
    $68

Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Corona using average buyer profile statistics, including the average age of 30, the average weight of 179 pounds for males and 142 pounds for females, and an average coverage need of $1,130,000.

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LIFE INSURANCE OFTEN COSTS LESS FOR WOMEN

Men pay more for life insurance than women. Women often pay less than men because they live longer. According to studies, males are more prone than females to do risky things, work in dangerous occupations, commit suicide and suffer heart disease. In many American cities, including Corona, insurers charge males more for life insurance.

Meanwhile, studies found that males are more likely than women to get life insurance. Women are important to their family’s finances, whether they are the primary source of income or stay-at-home caretakers. Therefore, they should consider getting life insurance.

Most Popular Life Insurance Companies in California

The three most popular life insurance carriers in California in terms of average market share are New York Life (8%), Transamerica (7%) and Northwestern Mutual (5%).

The seven best-known insurers control around 37% of the California life insurance industry. The table below shows how much market share the most popular California life insurance companies hold.

Most Popular Life Insurance Companies in California

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  • Company
    Market Share
  • New York Life
    8%
  • Transamerica
    7%
  • Lincoln Financial
    5%
  • Northwestern Mutual
    5%
  • Prudential
    4%
  • Pacific Life
    4%
  • MassMutual
    4%
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MONEYGEEK DICTIONARY

A company's market share is the fraction of a market that it controls based on its sales. MoneyGeek created a list of the most well-known life insurance firms in California using data from S&P Global's market intelligence for the year 2020.

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Cheapest Life Insurance for Young People in Corona

Life insurance for young individuals in Corona generally costs around $19 to $29 per month. On average, the top two cheapest companies for young adults in Corona are:

  • Transamerica: $19 per month
  • Mutual of Omaha: $21 per month

The table below contains full lists of life insurance carriers in Corona, as well as their monthly premiums.

Best Life Insurance Companies for Young People in Corona, CA

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  • Company
    Monthly Cost
  • Transamerica
    $19
  • Mutual of Omaha
    $21
  • MassMutual
    $21
  • AAA
    $23
  • State Farm
    $25
  • Nationwide
    $26
  • Prudential
    $26
  • Progressive Life
    $29

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Corona who is 5 feet 10 inches and 152 pounds that purchases a 20-year term contract at the average coverage need of $360,000. 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

Life insurance is less expensive if you are young and healthy. The younger you are, the less likely you are to pass away unexpectedly. As a result, your rates will be cheaper than those of those who smoke or are older. Purchasing life insurance in Corona at a young age is ideal since it becomes more costly as you become older.

Cheapest Life Insurance for Seniors in Corona

The cost of senior life insurance in Corona ranges from around $42 to $96. On average, the two most affordable life insurance providers for seniors are:

  • Transamerica: $42 per month
  • MassMutual: $45 per month

The table below provides a list of low-cost life insurance companies that serve seniors in Corona.

Best Life Insurance Companies for Seniors in Corona, CA

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  • Company
    Monthly Cost
  • Transamerica
    $42
  • MassMutual
    $45
  • State Farm
    $48
  • Nationwide
    $49
  • AAA
    $50
  • Mutual of Omaha
    $51
  • Progressive Life
    $76
  • Prudential
    $96

Rates were determined by analyzing quotes for a 60-year-old male non-smoker in Corona who is 5 feet 10 inches and 179 pounds that purchases a 10-year term contract at the average coverage need of $107,000.

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LIFE INSURANCE COSTS MORE FOR SENIORS

Life insurance providers view seniors as high-risk consumers and, as a result, their premiums are likely to be higher since their policy is projected to outlive them. There are, however, ways for seniors to get affordable policies.

Considering that their children are typically adults with stable financial conditions, purchasing life insurance may not be worth the cost. Anyone over the age of 65 should look for life insurance to cover any final costs and any outstanding debts. This is why the sample senior insurance policy has a lower premium than other customer profiles.

Cheapest Life Insurance for Smokers in Corona

Depending on the company and applicant's age, monthly premiums for smokers typically range from around $160 and $239. On average, the most affordable Corona insurers for smokers are:

  • Transamerica: $160 per month
  • Nationwide: $174 per month

Below is a full listing of inexpensive life insurance carriers in Corona, along with their monthly premiums.

Best Life Insurance Companies for Smokers in Corona, CA

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  • Company
    Monthly Cost
  • Transamerica
    $160
  • Nationwide
    $174
  • State Farm
    $189
  • Mutual of Omaha
    $194
  • MassMutual
    $194
  • AAA
    $204
  • Prudential
    $222
  • Progressive Life
    $238

Rates were determined by analyzing quotes for a 30-year-old male smoker in Corona who is 5 feet 10 inches and 179 pounds that purchases a 20-year term contract at the average coverage need of $1,130,000. If you are a smoker, we suggest buying a longer-term (20-year) policy to provide longer coverage as rates for smokers increase as you age.

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LIFE INSURANCE IS VERY EXPENSIVE FOR SMOKERS

Insurance firms charge smokers higher premiums because they are seen as high-risk consumers. This is due to the fact that smoking-related illnesses are more likely to cause a smoker's premature death. However, there are insurers in Corona that provide smokers affordable life insurance. MoneyGeek recommends purchasing 20-year term policies to give coverage for a longer period because the cost of insurance for smokers increases with 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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