Best Life Insurance Companies in Eugene, OR, for 2023

While life insurance can be a delicate subject for some, it offers financial support to your loved ones after you pass away. MoneyGeek encourages you to find not just a life insurance company in Eugene, Oregon, but the best life insurance company that fits your needs. Our guide details the best options for various ages, men and women and smokers.

The cost of your life insurance in Eugene depends greatly on your gender and coverage amount. MassMutual has the most affordable monthly quotes for a $250,000 coverage policy for men at $10 and women at $8, on average.

Because $250,000 in coverage may not be enough for where you live, there are different life insurance recommended coverage amounts per state. The Oregon recommendation is a coverage amount of $809,000, which considers state-specific factors, including average personal debt, average income and cost of living.

For Oregon’s recommended life insurance coverage amount of $809,000, Nationwide offers the cheapest average premium per month for men at $19 and women at $14.

Your gender affects the cost of your life insurance premium in Eugene, as does location. In comparison to Oregon’s average state-wide cost, men pay around 9% less and women 10% less for life insurance in Eugene.

In Eugene, the average cost of a $250,000 coverage policy is $17 per month for men and $14 per month for women.

The state-recommended coverage amount in Oregon is $809,000, which is based on factors such as per capita income (as reported by the U.S. Bureau of Economic Analysis), average personal debt, average mortgage debt and average age.

The premium for an $809,000 coverage policy, on average, costs men $37 per month, whereas women pay $32 per month.

Regardless of the coverage limit, the average cost for a policy with a 10-year term is $23 per month for men and $20 per month for women.

Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Eugene using average buyer profile statistics, including the average age of 31, the average weight of 186 pounds for males and 148 pounds for females, and an average coverage need of $809,000.

Based on market share, Northwestern Mutual (around 9%), State Farm (nearly 6%) and New York Life (roughly 5%) are the three most popular life insurance providers in Oregon. The seven most popular life insurance companies in Oregon take up a total of around 36% of the industry.

Below is a table that features the seven biggest life insurance companies in Oregon by market share.

For a young adult, the average life insurance quote in Eugene ranges between $14 and $21 each month. MoneyGeek found the two cheapest life insurance companies for young people in Eugene based on their average rates are:

• Mutual of Omaha: $14 per month
• MassMutual: $15 per month

Browse through the complete list of life insurance companies for young adults in the below table and their rates in Eugene.

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Eugene who is 5 feet 10 inches and 158 pounds that purchases a 20-year term contract at the average coverage need of $280,000. We chose a 20-year term to provide a longer coverage period for a younger buyer.

Seniors in Eugene pay an average cost of $35 to $73 per month for life insurance. The following companies provide the most affordable life insurance rates for older adults in Eugene:

• MassMutual: $35 per month
• Mutual of Omaha: $40 per month

Below is a full list of life insurance providers in Eugene and their rates for seniors.

Rates were determined by analyzing quotes for a 60-year-old male non-smoker in Eugene who is 5 feet 10 inches and 186 pounds that purchases a 10-year term contract at the average coverage need of $85,000.

Smokers pay roughly $125 to $193 per month for life insurance in Eugene. MoneyGeek’s research revealed the two cheapest life insurance companies for smokers in Eugene based on average rates are:

• MassMutual: $125 per month
• State Farm: $126 per month

Find a full list below of life insurance companies in Eugene that offer policies to individuals who smoke and their rates.

Rates were determined by analyzing quotes for a 31-year-old male smoker in Eugene who is 5 feet 10 inches and 186 pounds that purchases a 20-year term contract at the average coverage need of $809,000.

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.