Best Life Insurance Companies in Hayward, CA, for 2023

If you are the main provider in your family, life insurance gives you peace of mind that your family can get by financially if you pass away. Life insurance quotes in Hayward city differ depending on your buyer profile. It can be hard to choose the right insurers without comparing offers from several providers.

Compare rates from the best life insurance companies in Hayward, California, using MoneyGeek’s guide.

The cheapest life insurance company in Hayward is Transamerica, which sells policies at around $11 per month for men and approximately $9 per month for women.

Although a $250K coverage limit is the cheapest option in the city, you may want to increase your coverage to meet the state’s recommended amount. The recommended amount of coverage in California is $1,130,000 and is based on state-specific factors.

Transamerica offers the cheapest policy for this coverage limit at around $23 per month for men and approximately $18 per month for women.

Between men and women, life insurance quotes in Hayward are typically more expensive for men than women. Likewise, life insurance in Hayward for men and women is typically higher than the state average. Men pay approximately 9% more than the average, while women pay roughly 5% more.

A $250K coverage-limit policy in Hayward costs around $18 per month for men and roughly $16 per month for women.

To meet California’s recommended coverage of $1,130,000, which is based on factors like per capita income from the U.S. Bureau of Economic Analysis, average mortgage debt, average personal debt and average age, the cost of monthly premiums is around $47 for men and $48 for women.

Additionally, a 10-year term policy costs $27 per month for men and $27 per month for women, regardless of the coverage amount.

Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Hayward 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 (roughly 8%), Transamerica (approximately 7%) and Northwestern Mutual (around 5%) are the three top companies in Hayward that take up the most market share. Based on MoneyGeek’s analysis, the seven most popular companies in the city make up an average of 37% of the total market share.

MoneyGeek listed down the most popular life insurance companies in Hayward according to their market shares in the table below.

For young people in Hayward, the average life insurance premiums can range from $19 to $29 per month. Based on MoneyGeek’s rankings, the top two most affordable insurers for young people in Hayward are, on average:

• Transamerica: $19 per month
• Mutual of Omaha: $20 per month

You can see life insurance quotes in Hayward for young people in the table below.

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Hayward who is 5 feet 10 inches and 152 pounds that purchases 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.

If you’re a senior in Hayward, life insurance quotes can range from around $42 to $95 per month. On average, the top life insurance companies with the cheapest rates for seniors are:

• Transamerica: $42 per month
• MassMutual: $44 per month

Compare the best and the cheapest life insurance in Hayward for seniors in the table below.

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

Smokers in Hayward pay life insurance premiums ranging between $158 and $236 per month. On average, the top two most affordable companies in Hayward for smokers are:

• Transamerica: $158 per month
• Nationwide: $172 per month

MoneyGeek listed the best and cheapest life insurance companies in Hayward for smokers in the table below.

Rates were determined by analyzing quotes for a 30-year-old male smoker in Hayward 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 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. Keep in mind that each buyer is unique and may need more or less coverage depending on their specific circumstances.