Best Life Insurance Companies in Lancaster, CA, for 2023

If you have dependents, a life insurance policy can help support them financially after you pass away. Life insurance quotes in Lancaster can vary depending on your profile, so it is best to compare providers to get the best rates.

MoneyGeek ranked the best life insurance companies in Lancaster, California, to help you find the best provider for your needs and background.

Transamerica offers the cheapest life insurance for men and women in Lancaster at an average cost of $10 and $8 per month for $250K coverage, respectively.

A life insurance policy with $250,000 coverage is cheaper but may not be sufficient. The recommended life insurance coverage for California is $1,130,000 based on state-specific factors. For men and women, Transamerica offers the cheapest coverage for the state-recommended coverage, at around $21 and $16 monthly, respectively.

On average, men in Lancaster pay higher rates for life insurance than women. Life insurance rates for men in Lancaster are almost equal to the average rate for the state of California, while women pay around 5% less compared to the state average.

Men in Lancaster pay an average of $17 monthly for a $250K life insurance policy, while women pay roughly $14 monthly.

For life insurance with the recommended state coverage, which is based on factors such as per capita income from the U.S. Bureau of Economic Analysis, average personal debt and the average age in the state, men and women pay an average of $43 per month for the recommended coverage of $1,130,000.

Regardless of the coverage amount, a 10-year policy costs an average of $25 per month for men and $24 per month for women.

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

In California, the three most popular life insurance companies on average are New York Life with 8% market share, Transamerica with 7% and Northwestern Mutual with 5% of the market share.

The seven most popular life insurance companies in California make up roughly 37% of the total life insurance market share in the state. You can look up the most popular companies by market share in California in the table below.

Young people in Lancaster pay between $17 and $27 for life insurance. On average, for young adults, the most affordable life insurance companies in Lancaster are:

• Transamerica: $17 per month
• Mutual of Omaha: $19 per month

You can look up the cheapest life insurance companies for young adults in Lancaster in the table below.

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Lancaster who is 5 feet 10 inches in height and weighs 152 pounds with 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.

If you are a senior looking for life insurance in Lancaster, you can expect to pay between $39 and $87 per month. On average, the cheapest life insurance companies for seniors in Lancaster are:

• Transamerica: $39 per month
• MassMutual: $41 per month

You can compare companies with the cheapest rates for seniors in the table below.

Rates were determined by analyzing quotes for a 60-year-old male non-smoker in Lancaster who is 5 feet 10 inches tall and weighs 179 pounds with a 10-year term contract at the average coverage need of $107,000.

Smokers in Lancaster pay between $146 and $218 for life insurance. On average, the cheapest life insurance companies in Lancaster for smokers are:

• Transamerica: $146 per month
• Nationwide: $159 per month

You can use the table below to compare the most affordable companies for smokers in Lancaster.

Rates were determined by analyzing quotes for a 30-year-old male smoker in Lancaster who is 5 feet 10 inches tall and weighs 179 pounds with a 20-year term contract at the average coverage need of $1,130,000.

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.