Best Life Insurance Companies in Jacksonville, FL, for 2023

Having life insurance provides you peace of mind that your family or dependents will be financially supported when you pass away. In this review, MoneyGeek analyzed average rates based on age, gender and smoking history to find the best life insurance companies in Jacksonville for different buyer profiles.

When shopping for life insurance, it’s important to consider that your age and preferred coverage level will significantly impact your rates. In Jacksonville, the cheapest insurer is Transamerica for both men and women. For a $250K coverage, men pay around $11 per month, while women only pay $9 per month.

Although a $250K coverage policy is cheaper, meeting Florida’s recommended state coverage of $736K ensures that your family is able to keep up with living costs, average income, average personal debt and other expenses. At this higher coverage level, men pay around $21 per month, while women pay around $17 per month.

MoneyGeek reviewed the average cost of life insurance, which varies not just between different genders, but also within cities in each state. MoneyGeek found that life insurance for men in Jacksonville is 9% higher than the average cost of life insurance in Florida. Meanwhile, the cost of life insurance for women in Jacksonville is equal to the state-wide average cost of life insurance.

Typically, men pay more than women for life insurance policies in Jacksonville: policies that include $250K of coverage cost $19 per month for men but only cost $15 per month for women.

This also applies to Florida’s recommended coverage amount of $736K. Male buyers should expect to pay around $39 per month, while female buyers can expect to pay less at $31 per month.

For a 10-year term life insurance in Jacksonville, men typically pay around $25 per month, while women only pay $20 per month.

Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Jacksonville 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%. Overall, the seven most popular companies in Florida, listed in the table below, comprise 36% of the overall market share.

For young people in Jacksonville, the average cost of premiums range from approximately $15 to $25 per month. The cheapest companies offering life insurance for young people are:

• Transamerica: $15 per month
• Mutual of Omaha: $17 per month

Below is a complete list of the most affordable life insurance companies for young adults in Jacksonville.

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Jacksonville who is 5 feet 10 inches in height and weighs 156 pounds with 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.

In Jacksonville, the average cost of life insurance for seniors ranges from $42 to $87 per month. The cheapest companies for older adults in Jacksonville are:

• MassMutual: $42 per month
• State Farm: $45 per month

Below is a list of life insurance companies with the lowest rates for seniors in Jacksonville.

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

The average life insurance quotes in Jacksonville for people who smoke range from $124 to $220 per month. In Jacksonville, the cheapest life insurance providers for smokers are:

• Transamerica: $124 per month
• State Farm: $145 per month

Aside from these two companies, the table below shows the most affordable insurers in the city for smokers.

Rates were determined by analyzing quotes for a 34-year-old male smoker in Jacksonville who is 5 feet 10 inches tall and weighs 183 pounds with a 20-year term contract at the average coverage need of $736K.

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.