Updated: May 22, 2024
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By purchasing a life insurance policy, you protect your beneficiaries financially in the event of your death. With so many life insurance companies in Kansas City, Missouri, comparing quotes and providers is the most effective approach to discovering coverage that fits your needs and way of life.
MoneyGeek's study of each provider's average rates based on different ages, genders and smoking histories reveals the best life insurance companies in Kansas City.
BestLife InsuranceKansas City, MOBest Life Insurance Companies in Kansas City, MO, for 2023
The best life insurance in Kansas City depends on your gender and level of coverage. MassMutual is the best for men for a policy with $250K in coverage, with policies costing an average of $11 per month. For women looking for a comparative policy, Nationwide is the better option, costing $9 per month.
A policy with $250K in coverage may be more affordable but may not provide ample protection. MoneyGeek recommends following the state’s average recommended amount of coverage, which is $625K in Missouri. This is based on the state’s cost of living, average income, average personal debt, average age and other state-specific factors.
The best insurers in Kansas City following the state’s recommended amount of $625K are Nationwide for men ($17 per month) and Mutual of Omaha for women ($14 per month).
Cheapest For | $250K Coverage | $625K Coverage (Recommended) |
|---|---|---|
Male | MassMutual | Nationwide |
Female | MassMutual | Nationwide |
Life insurance costs are heavily influenced by gender. Case in point, women in Kansas City pay 1% more than the rest of Missouri, while men pay 6% more in this city than the state average.
On average, women in Kansas City pay $16 per month for $250K of coverage, while men pay $20. However, rates can also change if you use the state's suggested policy amount, calculated using data from the U.S. Bureau of Economics, average mortgage debt, average personal debt, and average age.
Based on Kansas City's suggested coverage amount of $625K, insurance for women costs an average of $32 per month, while policies for men cost $38 per month.
On the other hand, term life insurance can also affect your rates. In Kansas City, a 10-year term policy costs $21 per month for women and $25 per month for men, regardless of coverage level.
| Nationwide | Rates for $250K Coverage$11 | Rates for $926K Coverage (Recommended) $17 |
| MassMutual | Rates for $250K Coverage$11 | Rates for $926K Coverage (Recommended) $17 |
| Mutual of Omaha | Rates for $250K Coverage$12 | Rates for $926K Coverage (Recommended) $18 |
| Transamerica | Rates for $250K Coverage$16 | Rates for $926K Coverage (Recommended) $31 |
| State Farm | Rates for $250K Coverage$20 | Rates for $926K Coverage (Recommended) $35 |
| Mutual of Omaha | Rates for $250K Coverage$11 | Rates for $926K Coverage (Recommended) $14 |
| MassMutual | Rates for $250K Coverage$9 | Rates for $926K Coverage (Recommended) $14 |
| Nationwide | Rates for $250K Coverage$9 | Rates for $926K Coverage (Recommended) $15 |
| Transamerica | Rates for $250K Coverage$13 | Rates for $926K Coverage (Recommended) $26 |
| State Farm | Rates for $250K Coverage$20 | Rates for $926K Coverage (Recommended) $31 |
Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Kansas City using average buyer profile statistics, including the average age of 30, the average weight of 202 pounds for males and 160 pounds for females, and an average coverage need of $661,000.
The cost of life insurance is greatly influenced by a person's gender — for a reason. Women have a longer life expectancy than men, so they pay lower life insurance premiums. Men are statistically more likely to participate in risky activities, work in harmful jobs and suffer from heart disease. As a result, insurance companies charge men higher premiums.
However, studies suggest that men are more likely than women to get life insurance. Women are vital components of their family dynamics, whether they are breadwinners or primary caregivers, which underscores why they should buy life insurance.
In Missouri, Northwestern Mutual (11%), State Farm (6%) and Lincoln Financial (5%) have the highest market shares. Together, Missouri's top seven life insurance providers make up 37% of the national market.
The following table lists the top seven life insurance companies in Missouri and their market share.
| Northwestern Mutual | Market Share11% |
| State Farm | Market Share6% |
| Lincoln Financial | Market Share5% |
| Prudential | Market Share5% |
| New York Life | Market Share4% |
A company's market share is determined by its sales ratio compared to its competitors, which indicates how strong a company is in the market. A high market share in the life insurance industry indicates that a company has sold more policies than its competitors.
In calculating its market share, MoneyGeek used the total premiums written by each company in the 2020 state reports from S&P Global.
Life insurance premiums for young individuals in Kansas City can range from $14 to $23 per month. According to MoneyGeek’s analysis, the two most affordable and best insurance companies for young people in Kansas are:
Other affordable providers for younger folks looking for life insurance in Kansas City are listed below.
| Transamerica | Monthly Cost$14 |
| Mutual of Omaha | Monthly Cost$16 |
| MassMutual | Monthly Cost$16 |
| AAA | Monthly Cost$18 |
| Prudential | Monthly Cost$19 |
Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Missouri who is 5 feet 10 inches, 170 pounds and purchases a 20-year term contract at the average coverage need of $260,000. We chose a 20-year term to provide a more extended coverage period for a younger buyer.
In Kansas City, adults aged 25 and younger spend less for life insurance. However, policy costs climb as people age and are more likely to get certain illnesses. In this sense, buying life insurance when you're young is one of the most cost-effective strategies. The younger and healthier you are, the lower your life insurance premiums will be.
The cost of life insurance in Kansas City ranges from $41 to $85 per month for seniors. For Kansas City seniors seeking the most affordable policies, these are the best companies:
Find out more about the best and cheapest insurance companies for seniors in Kansas City in the table below.
| MassMutual | Monthly Cost$41 |
| Mutual of Omaha | Monthly Cost$46 |
| Nationwide | Monthly Cost$47 |
| State Farm | Monthly Cost$55 |
| Progressive Life | Monthly Cost$74 |
Rates were determined by analyzing quotes for a 60-year-old male non-smoker in Missouri who is 5 feet 10 inches and 200 pounds that purchases a 10-year term contract at the average coverage need of $77,000.
Seniors pay greater rates because their life insurance policy is more likely to outlast them as they age. However, because a senior's beneficiaries are more likely to be financially self-sufficient, they do not require as much coverage. Instead, their life insurance policies will typically cover funeral costs, estate taxes, and other related costs. As a result, MoneyGeek's sample senior policy coverage is $100,000.
Smokers in Kansas City should expect to pay a lot for life insurance, ranging from $114 to $222.
Kansas City smokers can still find good, affordable insurance. MoneyGeek analyzed life insurance companies in Kansas City, MO, and identified the following as the best life insurance companies for smokers:
Check out the other life insurance providers in Kansas City that are best for smokers below.
| MassMutual | Monthly Cost$114 |
| State Farm | Monthly Cost$115 |
| Nationwide | Monthly Cost$117 |
| Mutual of Omaha | Monthly Cost$123 |
| Transamerica | Monthly Cost$127 |
Rates were determined by analyzing quotes for a 31-year-old male smoker in Missouri who is 5 feet 10 inches and 200 pounds that purchases a 20-year term contract at the average coverage need of $625,000. 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.
Since smoking has long-term health consequences, insurers identify smokers as high-risk individuals and charge them higher premiums. Despite this, low-cost life insurance for smokers exists — it’s just a matter of comparing quotes and providers. MoneyGeek also recommends purchasing a policy for at least 20 years because smoking raises your insurance premiums as you age.
Ensure you are getting the best rate for your insurance. Compare quotes from the top insurance companies.
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.
About Mark Fitzpatrick
Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
