Best Life Insurance Companies in Fontana, CA, for 2023

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.