Best Life Insurance Companies in Frisco, TX, for 2024

If you pass away, your beneficiaries are financially protected by life insurance. Since it’s an investment in your loved one’s future, it’s important to choose a policy that best suits your needs. To accomplish this, you should shop around and compare quotes from several life insurance providers in Frisco. MoneyGeek's guide identified the best life insurance companies in Frisco based on age, gender and smoking history.

There are several factors influencing your premium cost, including your policy’s coverage amount and your gender. In Frisco, MassMutual provides the cheapest $250K policy, at an average cost of $18 per month for men and $13 per month for women.

A policy with a coverage limit of $250K may be less expensive, but it usually doesn’t offer enough coverage for most people. Policies that include the state-recommended coverage amount of $719K cost more, but account for state-specific factors like cost of living, household income, average debt and age.

To make sure your family is adequately covered, you should consider purchasing California’s recommended coverage amount. For the state-recommended coverage amount, men can get the cheapest policy from MassMutual for $32 per month, while women can get the least expensive policies from Nationwide for $22 per month.

Frisco life insurance prices were calculated by MoneyGeek based on coverage amount and policy length. Men in Frisco pay 81% more than the average cost of life insurance in Texas. Women in the city also pay 42% more than the state’s average cost for life insurance.

In general, men pay more for life insurance than women. For example, males in Frisco pay an average of $33 per month for a $250K policy, while females pay an average of $23 per month.

If you opt for a policy that includes the state’s recommended coverage amount, your rates will increase. In Frisco, policies with the state’s recommended coverage amount of $719K cost an average of $71 per month for men and $47 for women. The state-recommended coverage amount accounts for state-specific factors like per capita income, average mortgage debt, average personal debt and average age.

Policy terms also affect the cost of life insurance premiums. For a 10-year term policy, men in Frisco pay an average of $45 per month and women pay $31 per month, regardless of coverage amount.

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

Based on MoneyGeek’s analysis, Northwestern Mutual, New York Life and Lincoln Financial dominate the Texas life insurance industry, with respective market shares 7%, 6% and 6%.

A total of 35% of the Texas life insurance market is held by the top seven companies. The following are the top seven life insurance companies in Texas with their corresponding market shares.

The cost of life insurance for young adults in Frisco varies from $24 to $41 per month. In Frisco, MoneyGeek found the following two insurers to be the most affordable:

• Transamerica: $24 per month
• Mutual of Omaha: $28 per month

In the table below, MoneyGeek included other quotes from affordable life insurance companies for young people in Frisco.

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Frisco who is 5 feet 10 inches and 167 pounds that purchases 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.

The average monthly cost of life insurance for seniors in Frisco is between $70 and $144. Seniors in Frisco can get the cheapest life insurance from the following two companies:

• MassMutual: $70 per month
• Mutual of Omaha: $79 per month

Below, we’ve included a comprehensive list of the best cheapest life insurance companies for seniors in Frisco.

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

Life insurance in Frisco costs between $207 and $380 per month for smokers. The following two companies offer the cheapest life insurance policies for smokers in Frisco:

• MassMutual: $207 per month
• State Farm: $207 per month

You can find out which insurers in the city offer the most affordable policies for smokers by checking out the table below.

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

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.