Best Life Insurance Companies in Fresno, CA, for 2023

Life insurance financially protects your loved ones if you pass away. MoneyGeek's research, which accounts for age, gender and smoking history, can help you find the best life insurance company in Fresno that fits your needs.

The cost of life insurance is impacted by gender and coverage amount. In Fresno, Transamerica offers the cheapest policies with $250K coverage limits for both men and women, at $8 and $7 per month, respectively.

Although a policy with a $250K coverage limit costs less, it may not provide sufficient coverage for your dependents. As such, you may want to opt for a policy that includes the recommended state coverage level. California’s recommended coverage level of $1,130,000 takes into account cost of living, average income, average personal debt, average age and other state-specific variables.

Transamerica offers the cheapest life insurance policies that include California’s recommended coverage level to both men and women at $18 and $14 per month, respectively.

Life insurance premiums vary depending on your gender. In Fresno, men pay 14% less and women pay 19% less than the state average.

For $250K in coverage, men in Fresno pay an average of $15 per month, while women pay $12 per month. If you opt for a policy with California's recommended coverage level, your rates will significantly differ.

Policies that include California’s recommended coverage level of $1,130,000 cost $38 per month for men and $37 per month for women. Regardless of the coverage limit, 10-year term insurance policy costs approximately $22 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 Fresno 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.

New York Life, Transamerica and Northwestern Mutual are the three most popular life insurance companies in California, with respective market shares of 8%, 7% and 5%. The top seven insurers account for 37% of the market in the state.

In the table below, MoneyGeek included the most popular life insurance companies in California, along with their market shares.

Life insurance rates for young people in Fresno can range from $15 to $23 per month. The two cheapest life insurance companies in Fresno for young individuals, as per MoneyGeek's analysis, are:

• Transamerica: $15 per month
• Mutual of Omaha: $16 per month

In the MoneyGeek table below, you can explore alternative providers and life insurance quotes in Fresno for young people.

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in California 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.

Life insurance premiums for seniors in Fresno range from around $33 to $75 per month. The most affordable life insurance companies in Fresno for seniors are as follows:

• Transamerica: $33 per month
• MassMutual: $35 per month

Other affordable life insurance providers for seniors in Fresno can be found in the MoneyGeek table below.

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

Smokers in Fresno pay an average of $126 to $188 per month for life insurance. According to MoneyGeek’s study, the following are the best life insurance companies in Fresno for smokers:

• Transamerica: $126 per month
• Nationwide: $137 per month

Check out the MoneyGeek table below for more information on the most affordable life insurance in Fresno for smokers.

Rates were determined by analyzing quotes for a 30-year-old male smoker in California 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 dramatically as you age.

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.