Best Life Insurance Companies in Fontana, CA

Out of the top life insurance companies in Fontana, California, MoneyGeek recommends Transamerica as the best overall insurer for adults, young people, seniors and smokers. The most affordable average rates in Fontana range from $10 per month for a $250K coverage policy to $21 per month for a policy with the state-recommended coverage amount.

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Advertising & Editorial DisclosureLast Updated: 12/22/2022
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Life insurance is an excellent investment in your loved ones’ future, since it allows you to financially support your beneficiaries after you pass away. MoneyGeek analyzed and compared quotes from several providers to identify the best life insurance companies in Fontana, California, according to a variety of buyer profiles.

iconBestLife InsuranceFontana, CA
2023

Best Life Insurance Companies in Fontana, CA, for 2023

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Best Cheap Life Insurance in Fontana

Insurers consider gender and coverage amount when assessing the cost of life insurance. In Fontana, Transamerica offers the most affordable $250K coverage life insurance for men and women at an average of $10 and $7 per month.

Though policies with a $250K coverage limit are the most affordable, they may not offer sufficient coverage for most people. Each state has a recommended coverage amount according to state-specific factors like cost of living, average income, average personal debt and average age. In California, the state-recommended coverage amount is $1,130,000. For this coverage level, Transamerica offers the least expensive life insurance policy for men and women at $21 and $15 per month, respectively.

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

    Transamerica

    Transamerica

  • Female

    Transamerica

    Transamerica

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Life Insurance Costs in Fontana for Men and Women

Based on the amount of coverage and length of the policy, MoneyGeek calculated the average life insurance cost in Fontana for men and women. In Fontana, life insurance costs for men are 2% lower than the average cost in California. Additionally, Fontana women pay 16% less for life insurance than the average cost in the state.

Your gender significantly affects your life insurance cost. Typically, men pay more than women. Males in Fontana pay an average of $17 per month for a policy with a default coverage limit of $250K, while females pay $12.

For California's state-recommended coverage amount of $1,130,000, an average policy in Fontana costs $43 per month for men and $38 per month for women. The state-recommended coverage amount factors in Using the U.S. Bureau of Economic Analysis' recommended coverage amount is based on several factors like per capita income from the U.S. Bureau of Economic Analysis, average mortgage debt, average personal debt and average age.

A life insurance policy’s term also affects the cost of your premium. For a 10-year term, an average policy in Fontana costs $25 per month for men and $21 per month for women.

Average Monthly Life Insurance Rates in Fontana: Men

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Transamerica
    $10
    $21
  • Nationwide
    $12
    $23
  • MassMutual
    $11
    $26
  • Mutual of Omaha
    $12
    $26
  • AAA
    $13
    $29
  • State Farm
    $17
    $39
  • Prudential
    $28
    $52
  • Progressive Life
    $16
    $61
Average Monthly Life Insurance Rates in Fontana: Women

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Transamerica
    $7
    $15
  • Nationwide
    $9
    $15
  • Mutual of Omaha
    $9
    $16
  • MassMutual
    $8
    $17
  • Progressive Life
    $10
    $40
  • AAA
    $14
    $41
  • State Farm
    $16
    $49
  • Prudential
    $16
    $60

Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Fontana 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

In terms of life insurance premiums, men and women pay different amounts. Since men live shorter lives, they usually pay higher rates. Women live longer than men because they're more likely to have safer jobs and regularly visit the doctor.

While the cost of life insurance is lower for women, more men purchase policies. Whether you’re working full time or staying at home, investing in a life insurance policy is an affordable way to safeguard your family’s future.

Most Popular Life Insurance Companies in California

According to MoneyGeek's analysis, New York Life, Transamerica and Northwestern Mutual are the most popular life insurance companies in California, with respective market shares 8%, 7% and 5%.

In California, the top seven life insurance companies account for 39% of the market. Listed below are the seven most popular life insurance companies in California.

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 indicates its share of sales in an industry. A company with a high market share has sold more policies than its competitors.

MoneyGeek’s analysis used each company’s reported total written premium in the 2020 S&P Global data reports as a source of market share data.

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Cheapest Life Insurance for Young People in Fontana

Young people in Fontana often pay between $17 and $26 per month for life insurance premiums. For this age group, MoneyGeek found that the following companies offer the cheapest life insurance in Fontana:

  • Transamerica: $17 per month
  • Mutual of Omaha: $18 per month

In the table below, you can find a complete list of the best life insurance companies for young adults in Fontana.

Best Life Insurance Companies for Young People in Fontana, CA

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  • Company
    Monthly Cost
  • Transamerica
    $17
  • Mutual of Omaha
    $18
  • MassMutual
    $18
  • AAA
    $21
  • State Farm
    $23
  • Nationwide
    $23
  • Prudential
    $23
  • Progressive Life
    $26

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Fontana who is 5 feet 10 inches and 152 pounds that purchases a 20-year term contract at the average coverage need of $360K. 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 costs less for young people and steadily increases as you age. As such, you can save money by purchasing life insurance at a young age since rates are typically lower.

Cheapest Life Insurance for Seniors in Fontana

Seniors in Fontana pay between $38 and $86 per month, on average, for life insurance. In Fontana, the following two companies offer the cheapest life insurance:

  • Transamerica: $38 per month
  • MassMutual: $40 per month

The following is a list of the best and cheapest life insurance companies for seniors in Fontana.

Best Life Insurance Companies for Seniors in Fontana, CA

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  • Company
    Monthly Cost
  • Transamerica
    $38
  • MassMutual
    $40
  • State Farm
    $43
  • Nationwide
    $43
  • AAA
    $45
  • Mutual of Omaha
    $45
  • Progressive Life
    $68
  • Prudential
    $86

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

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LIFE INSURANCE COSTS MORE FOR SENIORS

Because older adults are closer to their life expectancy, they typically pay higher life insurance premiums. If you want to save money as a senior, you can purchase a low-coverage policy. This is typically fine, since seniors’ beneficiaries are usually financially independent. In most cases, seniors only need life insurance to cover funeral expenses and settle any outstanding debts. This is why our example policy coverage for Fontana seniors is $107K.

Cheapest Life Insurance for Smokers in Fontana

In Fontana, the cost of life for smokers ranges from $143 to $213 per month. For smokers in Fontana, MoneyGeek found that the following companies offer the most affordable rates:

  • Transamerica: $143 per month
  • Nationwide: $156 per month

The table below includes information about other cheap insurance providers for smokers in Fontana.

Best Life Insurance Companies for Smokers in Fontana, CA

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  • Company
    Monthly Cost
  • Transamerica
    $143
  • Nationwide
    $156
  • State Farm
    $169
  • Mutual of Omaha
    $173
  • MassMutual
    $174
  • AAA
    $183
  • Prudential
    $199
  • Progressive Life
    $213

Rates were determined by analyzing quotes for a 30-year-old male smoker in Fontana 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.

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LIFE INSURANCE IS VERY EXPENSIVE FOR SMOKERS

Smokers are prone to respiratory-related illnesses that reduce their life expectancies. For this reason, most insurers consider smokers high-risk and charge them more for life insurance. There are, however, insurance companies that offer affordable rates for smokers. One way to reduce your cost, if you’re a smoker, is to buy a longer term, typically a 20-year policy, since rates increase more 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


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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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