Best Life Insurance Companies in Fort Worth, TX, for 2024


Enter your ZIP code to get started

Shield

Free. Simple. Secure.

Banner image
ByMark Fitzpatrick
Reviewed byKatherine Kurtz
fact checked icon
ByMark Fitzpatrick
fact checked icon
Reviewed byKatherine Kurtz
fact checked icon

Updated: May 22, 2024

Advertising & Editorial Disclosure

A life insurance policy provides financial support to your beneficiaries after your death. MoneyGeek compared quotes across several life insurance companies in Fort Worth, Texas, based on various factors.

MoneyGeek Logo IconBestLife InsuranceFort Worth, TX
2024

Best Life Insurance Companies in Fort Worth, TX, for 2023

Best Cheap Life Insurance in Fort Worth

In Fort Worth, the most affordable insurance provider for a standard policy limit of $250K is MassMutual. The company charges $10 per month for male buyers and $9 per month for female buyers.

While a policy with lower coverage costs less, it may be inadequate to financially support your beneficiaries. To ensure your dependents are fully covered, you may want to buy a policy with more coverage.

The state recommended coverage level of $719K provides significantly more coverage than a standard policy and is based on the average cost of living, income, age and personal debt specific to Texas. MassMutual offers the cheapest policies for men at $18 per month, while Nationwide provides the cheapest policies for women at $15 per month.

Cheapest Life Insurance Companies for Males and Females in Fort Worth
Cheapest For
$250K Coverage
$719K Coverage (Recommended)

Male

MassMutual

MassMutual

Female

MassMutual

Nationwide

Life Insurance Costs in Fort Worth for Men and Women

Life insurance policy rates also vary by gender. MoneyGeek’s research shows that men in Fort Worth pay 4% more than the average cost of insurance in Texas, while women pay 2% less.

MoneyGeek’s analysis of the average cost of life insurance for buyers in Fort Worth considered coverage level and policy duration, among other factors.

In Fort Worth, policies with a $250K coverage limit cost about $19 per month for men and $16 per month for women. If you purchase a higher-coverage policy, you’ll pay more for insurance. Policies that include the higher state-recommended coverage amount of $719K cost $41 for men and $33 for women.

Rates also vary based on the policy term. If you purchase coverage for a 10-year-term, you will pay $26 per month if you’re a male buyer versus $21 per month if you’re female.

Average Monthly Life Insurance Rates in Fort Worth: Men
MassMutualRates for $250K Coverage$10Rates for $926K Coverage (Recommended) $18
NationwideRates for $250K Coverage$11Rates for $926K Coverage (Recommended) $19
Mutual of OmahaRates for $250K Coverage$11Rates for $926K Coverage (Recommended) $20
TransamericaRates for $250K Coverage$15Rates for $926K Coverage (Recommended) $30
State FarmRates for $250K Coverage$19Rates for $926K Coverage (Recommended) $38
Average Monthly Life Insurance Rates in Fort Worth: Women
NationwideRates for $250K Coverage$10Rates for $926K Coverage (Recommended) $15
Mutual of OmahaRates for $250K Coverage$10Rates for $926K Coverage (Recommended) $15
MassMutualRates for $250K Coverage$9Rates for $926K Coverage (Recommended) $15
TransamericaRates for $250K Coverage$12Rates for $926K Coverage (Recommended) $24
State FarmRates for $250K Coverage$19Rates for $926K Coverage (Recommended) $32

Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Fort Worth using average buyer profile statistics, including the average age of 28, the average weight of 197 pounds for males and 156 pounds for females, and an average coverage need of $719,000.

woman icon
LIFE INSURANCE OFTEN COSTS LESS FOR WOMEN

One of the primary factors that influences the cost of life insurance is gender. Typically, insurers charge men higher premiums than women because men have a shorter life expectancy. Men typically die earlier than women because they’re more likely to develop health-related conditions, like heart disease, and have dangerous jobs.

Although women live longer than men, reports indicate they are less likely to purchase life insurance coverage. MoneyGeek recommends that women purchase life insurance coverage, regardless of their working status, to financially safeguard their dependents and loved ones.

Most Popular Life Insurance Companies in Texas

Based on MoneyGeek’s analysis, the most popular insurers in Fort Worth are Northwestern Mutual, New York Life and Lincoln Financial, with market shares of 7%, 6% and 6%. respectively.

Overall, the top seven life insurance companies in Fort Worth feature a combined market share of 35%. To compare market segment share information for the top life insurance providers in Texas, you can use the table below.

Most Popular Life Insurance Companies in Texas
Northwestern MutualMarket Share7%
New York LifeMarket Share6%
Lincoln FinancialMarket Share6%
State FarmMarket Share4%
Pacific LifeMarket Share4%
bookshelves icon
MONEYGEEK DICTIONARY

By definition, an insurer’s market share is the number of premiums it has sold compared to the total number of premiums sold by other companies in the same industry. A higher market share means that a company is more popular than others in its industry.

MoneyGeek obtained the market share information used in this study from 2020 S&P Global Data reports based on total premiums written in the state.

Loading...

Cheapest Life Insurance for Young People in Fort Worth

Young buyers in Fort Worth can purchase life insurance policies for an average cost of $14 to $24 per month.

Based on MoneyGeek’s average data, the top life insurance companies in Fort Worth, Texas, for buyers age 25 and under include:

  • Transamerica: $14 per month
  • Mutual of Omaha: $16 per month

Young buyers can compare rates across the cheapest companies in the city using the following table.

Best Life Insurance Companies for Young People in Fort Worth, TX
TransamericaMonthly Cost$14
Mutual of OmahaMonthly Cost$16
MassMutualMonthly Cost$16
AAAMonthly Cost$17
PrudentialMonthly Cost$19

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Fort Worth who is 5 feet 10 inches tall and weighs 167 pounds with a 20-year term contract at the average coverage need of $270K. We chose a 20-year term to provide a longer coverage period for a younger buyer.

teen icon
LIFE INSURANCE IS CHEAPER FOR YOUNG PEOPLE

Life insurance providers in Fort Worth charge young buyers lower premiums, but rates increase considerably as you age. To save on costs, MoneyGeek recommends purchasing a life insurance policy while you’re young.

Cheapest Life Insurance for Seniors in Fort Worth

In Fort Worth, insurers charge seniors between $40 and $83 per month for life insurance. Based on our research, the best insurers in the city for seniors, on average, are:

  • MassMutual: $40 per month
  • Mutual of Omaha: $45 per month

The table below provides information about the best life insurance companies in Fort Worth for senior buyers.

Best Life Insurance Companies for Seniors in Fort Worth, TX
MassMutualMonthly Cost$40
Mutual of OmahaMonthly Cost$45
NationwideMonthly Cost$46
State FarmMonthly Cost$54
Progressive LifeMonthly Cost$72

Rates were determined by analyzing quotes for a 60-year-old male non-smoker in Fort Worth who is 5 feet 10 inches tall and weighs 197 pounds with a 10-year term contract at the average coverage need of $82K.

seniors icon
LIFE INSURANCE COSTS MORE FOR SENIORS

In most cases, seniors can comfortably opt for low-coverage policies, as most have beneficiaries that are financially independent. As such, MoneyGeek’s sample policy for seniors features a lower coverage limit of $100K, which is typically sufficient for funeral expenses and arrangements.

Cheapest Life Insurance for Smokers in Fort Worth

On average, smokers pay more for life insurance than non-smokers, with rates in Fort Worth ranging from $119 to $218 per month.

From MoneyGeek’s research, the following providers offer the best life insurance in Fort Worth for smokers:

  • MassMutual: $119 per month
  • State Farm: $119 per month

You can compare average rates for the best insurers in the city using the table below.

Best Life Insurance Companies for Smokers in Fort Worth, TX
MassMutualMonthly Cost$119
State FarmMonthly Cost$119
NationwideMonthly Cost$120
TransamericaMonthly Cost$133
Mutual of OmahaMonthly Cost$133

Rates were determined by analyzing quotes for a 28-year-old male smoker in Fort Worth who is 5 feet 10 inches tall and weighs 197 pounds with a 20-year term contract at the average coverage need of $719K.

girlThinking icon
LIFE INSURANCE IS VERY EXPENSIVE FOR SMOKERS

Smokers tend to pay more for life insurance in Fort Worth than non-smokers because insurers consider them at a higher risk of developing health problems. However, buyers can still find the cheapest life insurance coverage for smokers in the city.

MoneyGeek recommends getting a longer-term (20-year) policy to ensure longer coverage since rates increase drastically for smokers as they age.

Loading...

Methodology

MoneyGeek determined the recommended life insurance coverage by factoring in per capita income from the U.S. Bureau of Economics, 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 Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.


sources