Best Life Insurance Companies in Hialeah, FL, for 2023

Life insurance allows you to continue providing for your loved ones after you pass away. The coverage can be used for debt repayment, living expenses, medical bills, etc.

MoneyGeek analyzed life insurance rates based on your age, gender and smoking history, to help you find the best life insurance providers in Hialeah. By shopping around and comparing rates, you can find the provider that best fits your needs.

Your gender and chosen coverage amount affect the cost of your life insurance. Transamerica offers the cheapest policies with a $250K coverage limit to both men and women at $9 per month and $6 per month, respectively.

Although a policy with a $250K coverage cap is less expensive, it may not include enough coverage for your beneficiaries. The state’s recommended coverage amount of $736K is a helpful starting point to assess how much coverage you need. The suggested coverage level was calculated using state-specific statistics for the average cost of living, income, personal debt, age, etc.

For policies that include the state’s recommended coverage amount, Transamerica offers the best life insurance in Hialeah, with average monthly premium costs of $17 for men and $12 for women.

Gender impacts the cost of life insurance in Hialeah. In comparison to the average cost of life insurance across the state, men pay 12% less and women pay 27% less.

​​For policies with a coverage limit of $250K, men in Hialeah pay $15 per month, while women pay $11 per month. If you purchase a policy with Florida's recommended coverage amount, which is based on age, average mortgage debt and personal debt from the U.S. Bureau of Economic Analysis, you’ll pay a higher monthly premium.

The average cost of life insurance for Florida’s recommended coverage amount of $736K is $32 per month for men and $22 per month for women. Meanwhile, the average monthly cost of a 10-year term insurance is $20 for men and $14 for women, regardless of the coverage level.

Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Hialeah using average buyer profile statistics, including the average age of 34, the average weight of 183 pounds for males and 145 pounds for females, and an average coverage need of $736,000.

The three most popular life insurance companies in Florida are Northwestern Mutual, Lincoln Financial and MassMutual, with respective market shares of 8%, 6% and 5%. The top seven companies in the state comprise 37% of the industry.

The leading Florida life insurance companies, along with their market shares, are shown in the table below.

The cost of life insurance for younger Hialeah residents ranges from $12 to $20 per month. The following companies are the two most affordable life insurance providers in Hialeah for young people:

• Transamerica: $12 per month
• Mutual of Omaha: $14 per month

The MoneyGeek table below contains additional life insurance quotes for young individuals in Hialeah.

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Hialeah who is 5 feet 10 inches and 156 pounds that purchases a 20-year term contract at the average coverage need of $280K. We chose a 20-year term to provide a longer coverage period for a younger buyer.

The typical price range for life insurance in Hialeah for seniors is between $33 and $70 per month. The highest-ranked senior-friendly life insurance providers in the city are as follows:

• MassMutual: $34 per month
• State Farm: $37 per month

More details about the top senior life insurance providers in Hialeah can be found in the table below.

Rates were determined by analyzing quotes for a 60-year-old male non-smoker in Hialeah who is 5 feet 10 inches and 183 pounds that purchases a 10-year term contract at the average coverage need of $83K.

Residents in Hialeah who smoke should expect to pay between $101 and $179 per month for life insurance. The following companies in Hialeah provide the most affordable life insurance rates:

• Transamerica: $101 per month
• State Farm: $118 per month

The table below includes more information on providers that offer affordable life insurance for smokers in Hialeah.

Rates were determined by analyzing quotes for a 34-year-old male smoker in Hialeah who is 5 feet 10 inches and 183 pounds that purchases a 20-year term contract at the average coverage need of $736K. If you are a smoker, we suggest buying a longer-term (20-year) policy to provide longer coverage as rates for smokers increase dramatically 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.