Best Life Insurance Companies in Houston, TX, for 2024

When your family depends on you, having life insurance guarantees that they have enough funds to handle expenses in the event of your passing. MoneyGeek’s analysis of the best life insurance companies in Houston compares prices and lists the best policies for different buyer profiles.

When looking for the cheapest life insurance in Houston, buyers should take into account how their gender and preferred coverage level could affect their premiums. For a $250K coverage policy in Houston, MassMutual offers the cheapest policies for men at around $10 per month. The same insurer offers the cheapest rates for women at around $9 per month.

Based on the cost of living, average income, average personal debt, average age and other state-specific factors, MoneyGeek recommends having at least $719,000 in coverage if you live in Houston, Texas. Though a $250K coverage policy is cheaper, buyers should consider purchasing the recommended coverage in Texas to ensure that their family has the needed security.

For this coverage level, MassMutual offers the cheapest policies for male buyers at $17 per month. Nationwide offers the cheapest policies for female buyers at around $14 per month.

The average cost of life insurance varies greatly by gender but also within cities. MoneyGeek found that life insurance for men in Houston is 4% cheaper than the average cost in all of Texas. Meanwhile, life insurance cost for women in Houston is 7% cheaper than the average cost of life insurance state-wide.

Gender and location affect rates significantly. To see how the costs differ between buyer profiles, MoneyGeek compared the average cost between male and female buyers in Houston and further compared it to other cities in Texas.

For a $250K coverage, the average cost of policies costs $18 for males and $15 for females. Increasing the coverage level to $719,000, which is the recommended amount of coverage if you’re in Texas, the average cost of policies averages at around $37 monthly for male buyers and $31 monthly for female buyers.

Opting for a term life insurance, male buyers can expect to pay around $24 per month for a 10-year term. Female buyers can expect to pay around $20 per month for the same term length.

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

The three most popular life insurance companies in Texas are Northwestern Mutual (7%), New York Life (6%) and Lincoln Financial (6%). Overall, the seven most popular companies in Florida make up about 35% of the overall market share.

MoneyGeek lists down the most popular life insurance companies in Texas and their market shares below.

In Houston, the cost of life insurance for young people ranges from approximately $13 to $22 per month. For this age group, MoneyGeek recommends the following companies with the cheapest average rates:

• Transamerica: $13 per month
• Mutual of Omaha: $15 per month

See the complete list of the most affordable life insurance companies for young adults in Detroit.

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

Seniors pay around $37 up to $76 per month for life insurance in Houston. Based on MoneyGeek’s research, the cheapest companies on average for older adults in Houston are:

• MassMutual: $37 per month
• Mutual of Omaha: $42 per month

Refer to the table below for other life insurance companies with the lowest rates for seniors in Houston.

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

Smokers in Houston should expect to pay between $109 and $201 per month on average for life insurance quotes in Houston. According to MoneyGeek, the cheapest life insurance providers on average for smokers in Houston City are:

• MassMutual: $109 per month
• State Farm: $109 per month

Refer to the table below to see more of the most affordable insurers in the city for smokers.

Rates were determined by analyzing quotes for a 28-year-old male smoker in Houston who is 5 feet 10 inches tall and weighs 197 pounds with 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 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 Economics, 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.