Best Life Insurance Companies in Garden Grove, CA

If you are looking for life insurance in Garden Grove, California, MoneyGeek found that Transamerica is the best provider overall in the city. It is also the best option for the average adult, seniors, smokers and young adults. On average, life insurance quotes in Garden Grove can be as low as $9 per month for a policy with $250K coverage and $20 monthly for a policy with the recommended coverage for California.

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Advertising & Editorial DisclosureLast Updated: 12/23/2022
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Life insurance provides financial security for your beneficiaries or dependents when you pass away. MoneyGeek compared and ranked the best life insurance companies in Garden Grove, California, to help you find the best rates in the city. Our analysis also considered the best options for smokers, seniors and young adults looking for life insurance in Garden Grove.

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2023

Best Life Insurance Companies in Garden Grove, CA, for 2023

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Best Cheap Life Insurance in Garden Grove

In Garden Grove, a $250K policy is the cheapest from Transamerica. The insurer charges around $9 per month for men and roughly $7 per month for women.

Although a policy with $250,000 coverage may be more affordable, it might not be enough coverage for most people.

For the recommended state coverage of $1,130,000, which is based on state-specific factors, Transamerica offers the average cheapest rates at $20 per month for men and $14 per month for women.

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

    Transamerica

    Transamerica

  • Female

    Transamerica

    Transamerica

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Life Insurance Costs in Garden Grove for Men and Women

Garden Grove life insurance rates can vary significantly depending on your gender. Men in the city pay 7% less than the average life insurance rate for California, while women’s rates are up to 17% cheaper than the state average.

Men in Garden Grove pay an average of $16 per month for a $250K policy, while women pay approximately $12 per month.

In Garden Grove, the cost of a life insurance policy with the recommended coverage is $40 monthly for men and $38 monthly for women. The recommended coverage is $1,130,000, which is based on factors like per capita income from the U.S. Bureau of Economic Analysis, average personal debt and the average age in the state.

A 10-year policy costs an average of $23 per month for men, while women will pay $21 per month, regardless of coverage level.

Average Monthly Life Insurance Rates in Garden Grove: Men

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Transamerica
    $9
    $20
  • Nationwide
    $11
    $22
  • MassMutual
    $10
    $24
  • Mutual of Omaha
    $11
    $25
  • AAA
    $13
    $28
  • State Farm
    $16
    $37
  • Prudential
    $27
    $50
  • Progressive Life
    $15
    $58
Average Monthly Life Insurance Rates in Garden Grove: Women

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Transamerica
    $7
    $14
  • Nationwide
    $9
    $15
  • Mutual of Omaha
    $9
    $16
  • MassMutual
    $8
    $17
  • Progressive Life
    $10
    $40
  • AAA
    $14
    $41
  • State Farm
    $16
    $48
  • Prudential
    $16
    $59

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

The cost of life insurance is typically higher for men than women because men generally have a shorter life expectancy. Risk factors like higher susceptibility to cardiovascular disease in men make it more expensive for men to buy life insurance.

However, studies have found that more men buy life insurance compared to women despite costs being cheaper for women. It is important for women to get life insurance since they play a role in the financial stability of their families, so a policy will help to protect their dependents.

Most Popular Life Insurance Companies in California

In California, New York Life, with around 8% of the market share, Transamerica, with roughly 7%, and Northwestern Mutual, with approximately 5% of the market share, are the three most popular life insurance companies in the state.

Up to 37% of the total life insurance market share in California is taken up by the seven most popular life insurance companies. To see how companies compare by market share, you can look up the most popular life insurance companies in the table below.

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

The percentage of revenue that a company generates compared to its competitors in the same industry makes up its market share. MoneyGeek analyzed the most popular life insurance companies in California using market share data from S&P Global’s 2020 market intelligence reports.

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Cheapest Life Insurance for Young People in Garden Grove

The cost of life insurance in Garden Grove for young adults can range from around $16 to $25 per month. On average, the most affordable life insurance companies in Garden Grove for young people are:

  • Transamerica: $16 per month
  • Mutual of Omaha: $17 per month

You can compare the most affordable life insurance companies for young adults in the table below.

Best Life Insurance Companies for Young People in Garden Grove, CA

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  • Company
    Monthly Cost
  • Transamerica
    $16
  • Mutual of Omaha
    $17
  • MassMutual
    $17
  • AAA
    $20
  • State Farm
    $21
  • Nationwide
    $22
  • Prudential
    $22
  • Progressive Life
    $25

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Garden Grove who is 5 feet 10 inches in height and weighs 152 pounds with a 20-year term contract at the average coverage need of $360,000. 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

If you are 25 or younger, you will pay lower rates for life insurance because younger people typically have a higher life expectancy. This means that if you want to save on your life insurance costs, buying a life insurance policy at a young age is the best way to do it.

Cheapest Life Insurance for Seniors in Garden Grove

If you are a senior in Garden Grove, you can expect to pay between $36 and $81 per month. On average, the companies with the cheapest life insurance rates for seniors in Garden Grove are:

  • Transamerica: $36 per month
  • MassMutual: $38 per month

You can look up the most affordable companies for seniors in the table below.

Best Life Insurance Companies for Seniors in Garden Grove, CA

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  • Company
    Monthly Cost
  • Transamerica
    $36
  • MassMutual
    $38
  • State Farm
    $41
  • Nationwide
    $41
  • AAA
    $42
  • Mutual of Omaha
    $43
  • Progressive Life
    $65
  • Prudential
    $81

Rates were determined by analyzing quotes for a 60-year-old male non-smoker in Garden Grove who is 5 feet 10 inches tall and weighs 179 pounds with a 10-year term contract at the average coverage need of $107,000.

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LIFE INSURANCE COSTS MORE FOR SENIORS

Since seniors are viewed as high risk, they typically pay higher premiums for life insurance in Garden Grove. However, since most seniors are unlikely to have younger dependents who need coverage for future income, they can get away with having a policy with less coverage. This is why our sample policy coverage for seniors is lower than for other groups.

Most seniors only need enough coverage to cover funerals and other final expenses, so lower coverage amounts are usually sufficient.

Cheapest Life Insurance for Smokers in Garden Grove

Life insurance in Garden Grove for smokers costs between $136 and $202 per month. The most affordable companies for smokers in Garden grove are, on average:

  • Transamerica: $136 per month
  • Nationwide: $148 per month

You can use the table below to compare average life insurance rates for smokers in Garden Grove.

Best Life Insurance Companies for Smokers in Garden Grove, CA

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  • Company
    Monthly Cost
  • Transamerica
    $136
  • Nationwide
    $148
  • State Farm
    $161
  • Mutual of Omaha
    $164
  • MassMutual
    $165
  • AAA
    $173
  • Prudential
    $189
  • Progressive Life
    $202

Rates were determined by analyzing quotes for a 30-year-old male smoker in Garden Grove who is 5 feet 10 inches tall and weighs 179 pounds with 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 viewed as a higher risk to insure since they are more likely to develop smoking-related diseases. This makes life insurance more costly for them. However, you can still get affordable life insurance for smokers by comparing quotes from different providers. Buying a longer 20-year term policy can also help you save on costs since rates tend to increase as you age.

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Insurance Rates

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


Mark Fitzpatrick headshot

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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