Best Life Insurance Companies in Grand Prairie, TX, for 2023

In the event of your unexpected passing, life insurance provides financial support to your beneficiaries. With a large number of life insurance providers in Grand Prairie, Texas, shopping around and comparing quotes help you find the best policy that suits your needs and lifestyle.

Review the best life insurance companies in Grand Prairie using MoneyGeek’s analysis of their average rates based on your gender, age and lifestyle.

MassMutual is the most affordable for men and women for $250K in coverage in Grand Prairie, Texas. Men pay an average of $10 per month, while women spend approximately $9 monthly.

A policy with $250K coverage is affordable but may not be sufficient. The state-recommended coverage amount is $719K. This is based on state-specific factors.

For the recommended coverage amount in Grand Prairie, MassMutual offers the cheapest life insurance for men at approximately $18 per month. Nationwide provides the cheapest coverage for women at around $15 per month.

Gender affects the average cost of life insurance. Men in Grand Prairie pay around 4% more than the average for Texas. Women pay less than 1% more than the average in Grand Prairie, Texas.

For a $250K life insurance policy in Grand Prairie, men pay approximately $19 per month, while women pay around $16 monthly.

The state’s recommended coverage amount of $719K, which is based on per capita income from the U.S. Bureau of Economic Analysis, average mortgage debt, average personal debt and age, costs an average of $40 per month for men and $33 per month for women.

The average cost of a 10-year term policy for women is $22 per month. Men pay around $26 per month. These costs are regardless of the coverage limit.

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

Reviewing their average market share, the three most popular life insurance companies in Texas are Northwestern Mutual (7%), New York Life (6%) and Lincoln Financial (6%). Texas's seven most popular companies make up approximately 35% of the market share.

Below, MoneyGeek shows Texas's most popular life insurance providers and their market shares.

Average life insurance costs in Grand Prairie for young adults range between $14 and $24 per month. On average, the two most affordable life insurance providers for young people in Grand Prairie are:

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

You can look through other life insurance quotes in Texas for young people in the table below.

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Grand Prairie who is 5 feet 10 inches and 167 pounds that purchases a 20-year term contract at the average coverage need of $270,000. We chose a 20-year term to provide a more extended coverage period for a younger buyer.

Life insurance in Grand Prairie costs between $40 and $82 per month. The top two most affordable life insurance providers in Grand Prairie for the elderly are, on average:

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

In the table below, you’ll see more of the best insurance providers in Grand Prairie for seniors.

Rates were determined by analyzing quotes for a 60-year-old male non-smoker in Grand Prairie who is 5 feet 10 inches and 197 pounds that purchases a 10-year term contract at the average coverage need of $82,000.

For people who smoke in Grand Prairie, the average cost of life insurance quotes goes from $118 to $216 per month. MoneyGeek found that, on average, the most affordable life insurance companies for smokers in Grand Prairie are:

• MassMutual: $118 per month
• State Farm: $118 per month

Check out the table below to see the other most affordable insurers in the city for people who smoke.

Rates were determined by analyzing quotes for a 28-year-old male smoker in Grand Prairie who is 5 feet 10 inches and 197 pounds that purchases a 20-year term contract at the average coverage need of $719,000. If you are a smoker, we suggest buying a longer-term (20-year) policy to provide more extended coverage as rates for smokers increase as you age.

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. Remember that each buyer is unique and may need more or less coverage depending on their circumstances.