Best Life Insurance Companies in Hayward, CA

In Hayward, California, Transamerica is the best overall life insurance provider as well as the best option for seniors, young people or those with a smoking history. The cheapest $250K life insurance coverage in the city costs around $11 per month. For a policy that meets California’s state-recommended coverage amount, the cheapest policy costs roughly $23 per month.

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Advertising & Editorial DisclosureLast Updated: 12/23/2022
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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.

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2023

Best Life Insurance Companies in Hayward, CA, for 2023

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Best Cheap Life Insurance in Hayward

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.

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

    Transamerica

    Transamerica

  • Female

    Transamerica

    Transamerica

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Life Insurance Costs in Hayward for Men and 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.

Average Monthly Life Insurance Rates in Hayward: Men

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Transamerica
    $11
    $23
  • Nationwide
    $13
    $25
  • MassMutual
    $12
    $28
  • Mutual of Omaha
    $13
    $29
  • AAA
    $15
    $32
  • State Farm
    $19
    $43
  • Prudential
    $31
    $58
  • Progressive Life
    $17
    $68
Average Monthly Life Insurance Rates in Hayward: Women

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Transamerica
    $9
    $18
  • Nationwide
    $11
    $19
  • Mutual of Omaha
    $11
    $20
  • MassMutual
    $10
    $21
  • Progressive Life
    $12
    $50
  • AAA
    $17
    $52
  • State Farm
    $21
    $61
  • Prudential
    $20
    $75

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.

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LIFE INSURANCE OFTEN COSTS LESS FOR WOMEN

Life insurance quotes for males in Hayward are typically (but not always) more expensive compared to their female counterparts. This is caused by a difference in their life expectancy. Women are likely to live longer than men since men are inclined to participate in dangerous jobs and activities. They are less socially connected, which is correlated to one’s overall health.

When it comes to buying life insurance, men are more likely to buy life insurance than women. Women need life insurance just as likely as men do. As a contributor to their household, it’s a good idea for women to get life insurance.

Most Popular Life Insurance Companies in California

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.

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

A company’s market share records the number of policies a life insurance provider sells in relation to other companies in the same industry. The insurers with the highest market share dominate the market. In this MoneyGeek guide, the market share data is derived from S&P Global’s 2020 market intelligence reports.

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Cheapest Life Insurance for Young People in Hayward

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.

Best Life Insurance Companies for Young People in Hayward, CA

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  • Company
    Monthly Cost
  • Transamerica
    $19
  • Mutual of Omaha
    $20
  • MassMutual
    $20
  • AAA
    $23
  • State Farm
    $25
  • Nationwide
    $25
  • Prudential
    $26
  • Progressive Life
    $29

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.

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LIFE INSURANCE IS CHEAPER FOR YOUNG PEOPLE

Life insurance costs increase as you age. Young people typically get the cheapest life insurance quotes since they are less prone to certain illnesses compared to buyers who are much older. Therefore, it might be a wise financial decision to buy life insurance while you’re young since you will be able to get cheaper rates.

Cheapest Life Insurance for Seniors in Hayward

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.

Best Life Insurance Companies for Seniors in Hayward, CA

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  • Company
    Monthly Cost
  • Transamerica
    $42
  • MassMutual
    $44
  • State Farm
    $48
  • Nationwide
    $48
  • AAA
    $49
  • Mutual of Omaha
    $50
  • Progressive Life
    $75
  • Prudential
    $95

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.

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LIFE INSURANCE COSTS MORE FOR SENIORS

Since seniors are more prone to illnesses, life insurance premiums are often more expensive. However, most seniors may not need as much coverage. Often, their beneficiaries may already be financially independent adults. Thus, MoneyGeek adjusted the coverage amount to pay for at least the funeral and burial expenses, estate taxes and debts. As a result, premiums quoted for seniors in this study are lower than for other groups.

Cheapest Life Insurance for Smokers in Hayward

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.

Best Life Insurance Companies for Smokers in Hayward, CA

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  • Company
    Monthly Cost
  • Transamerica
    $158
  • Nationwide
    $172
  • State Farm
    $187
  • Mutual of Omaha
    $191
  • MassMutual
    $192
  • AAA
    $202
  • Prudential
    $220
  • Progressive Life
    $236

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.

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LIFE INSURANCE IS VERY EXPENSIVE FOR SMOKERS

Smoking comes with many smoking-related illnesses, such as heart attack, stroke and coronary heart disease. These reduce life expectancy. As a result, life insurance quotes for people with a smoking history are often the most expensive. You might be able to find cheap policies by comparing affordable life insurance for smokers. We recommend buying a longer-term policy (at least 20 years) since premiums skyrockets if you have a history of smoking.

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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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