Best Life Insurance Companies in Las Vegas, NV

MoneyGeek’s research determined that MassMutual is the best life insurance company in Las Vegas for seniors and average adults. Meanwhile, Transamerica provides the cheapest premiums for young people and smokers.

MoneyGeek also found that MassMutual offers the most affordable rates for policies with $250K worth of coverage and those with the state-recommended coverage amount of $788K at $12 and $22 per month, respectively.

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Advertising & Editorial DisclosureLast Updated: 12/22/2022
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Life insurance helps you care for your beneficiaries through financial support even after you pass away. To help you find the best life insurance companies in Las Vegas for your individual profile, we evaluated rates based on gender, age and smoking history.

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2023

Best Life Insurance Companies in Las Vegas, NV, for 2023

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Best Cheap Life Insurance in Las Vegas

Coverage amount and gender are two major factors that determine the cost of your life insurance. In Las Vegas, MassMutual is the cheapest company for men, with premiums costing around $12 per month for $250K in coverage. MassMutual is also the most affordable option for women at $9 per month.

A coverage amount of $250K might not be enough for you and your loved ones. Usually, the state-recommended coverage is a helpful guide to determine how much you might need. In Nevada, the recommended life insurance coverage is $788K. This amount is based on the state’s cost of living, average age, average income, average personal debt and other state-specific factors.

With Nevada’s recommended coverage of $788K, MassMutual provides affordable rates for men at $22 per month while Nationwide has cheap premiums for women at $15 per month.

Cheapest Life Insurance Companies for Males and Females in Las Vegas
  • Cheapest For
    $250K Coverage
    $788K Coverage (Recommended)
  • Male

    MassMutual

    MassMutual

  • Female

    MassMutual

    Nationwide

Life Insurance Costs in Las Vegas for Men and Women

Your gender affects your average life insurance rate in Las Vegas. MoneyGeek’s data revealed that women pay 4% less and men pay 4% more in Las Vegas than the average cost of insurance in Nevada.

Women pay less than men for life insurance in Las Vegas. For $250K in life insurance coverage, women pay roughly $16 per month and men pay $19 per month.

However, this amount of coverage may not be adequate for your needs. If you choose to follow Nevada’s higher recommended coverage amount of $788K, you’ll pay $35 per month if you’re female and $45 per month if you’re male.

Regardless of the coverage limit, a 10-year term policy costs $22 for a female and $27 for a man in Las Vegas.

Average Monthly Life Insurance Rates in Las Vegas: Men

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • MassMutual
    $12
    $22
  • Nationwide
    $12
    $22
  • Mutual of Omaha
    $13
    $23
  • Transamerica
    $12
    $26
  • AAA
    $17
    $39
  • State Farm
    $21
    $46
  • Progressive Life
    $17
    $61
  • Prudential
    $31
    $64
Average Monthly Life Insurance Rates in Las Vegas: Women

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Nationwide
    $10
    $15
  • MassMutual
    $9
    $16
  • Mutual of Omaha
    $10
    $16
  • Transamerica
    $12
    $29
  • State Farm
    $19
    $35
  • Progressive Life
    $18
    $40
  • AAA
    $16
    $40
  • Prudential
    $18
    $44

Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Las Vegas using average buyer profile statistics, including the average age of 30, the average weight of 194 pounds for males and 153 pounds for females, and an average coverage need of $788,000.

woman icon
LIFE INSURANCE OFTEN COSTS LESS FOR WOMEN

When it comes to life insurance costs, gender plays a significant role. Women typically pay cheaper premiums since they have a longer life expectancy. Studies show that men have a higher chance of getting heart diseases, engaging in high-risk behaviors and taking on dangerous jobs. Thus, life insurance premiums for men are usually more expensive.

However, reports reveal that more men purchase life insurance than women do. Even so, women should consider getting life insurance as they provide economic value to their households and also financially support their loved ones.

Most Popular Life Insurance Companies in Nevada

The three most popular life insurance companies in Nevada are Prudential Financial Inc., New York Life and Lincoln Financial with respective market shares of 6%, 6% and 5%. The total market share of the seven most popular insurance companies in Nevada is 34%.

In the table below, you’ll find a table of the seven most popular companies in Nevada.

Most Popular Life Insurance Companies in Nevada

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  • Company
    Market Share
  • Prudential
    6%
  • New York Life
    6%
  • Northwestern Mutual
    5%
  • Lincoln Financial
    5%
  • Pacific Life
    4%
  • State Farm
    4%
  • Transamerica
    4%
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MONEYGEEK DICTIONARY

A market share is defined as the percentage of a company’s revenue when compared to its competitors. Based on S&P Global’s 2020 market intelligence reports, MoneyGeek assessed the top-performing insurance providers in Nevada.

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Cheapest Life Insurance for Young People in Las Vegas

The average cost of life insurance for young people in Las Vegas ranges between $14 and $24 per month. MoneyGeek listed the cheapest companies for this age group:

  • Transamerica: $14 per month
  • Mutual of Omaha: $16 per month

Below, you’ll find a complete list of the cheapest life insurance providers in Las Vegas for young adults.

Best Life Insurance Companies for Young People in Las Vegas, NV

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  • Company
    Monthly Cost
  • Transamerica
    $14
  • Mutual of Omaha
    $16
  • MassMutual
    $16
  • AAA
    $17
  • Prudential
    $19
  • Nationwide
    $19
  • State Farm
    $20
  • Progressive Life
    $24

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Nevada who is 5 feet 10 inches and 165 pounds that purchases a 20-year term contract at the average coverage need of $270K. We chose a 20-year term to provide a longer coverage period for a younger buyer.

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LIFE INSURANCE IS CHEAPER FOR YOUNG PEOPLE

Typically, life insurance is cheaper when you’re younger and becomes more expensive as you age. To save on life insurance, we recommend purchasing a policy at a young age. Adults who are 25-years-old and below pay lower premiums than if they bought life insurance later in life.

Cheapest Life Insurance for Seniors in Las Vegas

In Las Vegas, the average life insurance quote for seniors costs $40 to $82 per month. According to MoneyGeek’s data, the two cheapest companies are:

  • MassMutual: $40 per month
  • Mutual of Omaha: $45 per month

You can browse the table below to see more life insurance companies that offer the cheapest rates for seniors in Las Vegas.

Best Life Insurance Companies for Seniors in Las Vegas, NV

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  • Company
    Monthly Cost
  • MassMutual
    $40
  • Mutual of Omaha
    $45
  • Nationwide
    $46
  • State Farm
    $48
  • AAA
    $60
  • Progressive Life
    $72
  • Transamerica
    $80
  • Prudential
    $82

Rates were determined by analyzing quotes for a 60-year-old male non-smoker in Nevada who is 5 feet 10 inches and 194 pounds that purchases a 10-year term contract at the average coverage need of $80K.

seniors icon
LIFE INSURANCE COSTS MORE FOR SENIORS

Life insurance companies consider seniors high-risk since their policies may outlive them. Thus, premiums for seniors are more expensive. However, seniors can still save by purchasing less coverage. Since their beneficiaries are typically grown up and financially dependent, a high-coverage policy isn’t required. Due to this, MoneyGeek used a sample policy for seniors with a coverage amount of $100K, which typically covers the cost of funeral arrangements and other debts.

Cheapest Life Insurance for Smokers in Las Vegas

On average, life insurance for smokers in Las Vegas costs between $112 and $253 per month. Based on MoneyGeek’s data, the most affordable insurance providers for smokers in Las Vegas are:

  • Transamerica: $112 per month
  • MassMutual: $133 per month

In the table below, we’ve provided a complete list of affordable life insurance providers for smokers in Las Vegas.

Best Life Insurance Companies for Smokers in Las Vegas, NV

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  • Company
    Monthly Cost
  • Transamerica
    $112
  • MassMutual
    $133
  • State Farm
    $137
  • Nationwide
    $143
  • Mutual of Omaha
    $147
  • Prudential
    $166
  • Progressive Life
    $214
  • AAA
    $253

Rates were determined by analyzing quotes for a 30-year-old male smoker in Nevada who is 5 feet 10 inches and 194 pounds that purchases a 20-year term contract at the average coverage need of $788K. 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.

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LIFE INSURANCE IS VERY EXPENSIVE FOR SMOKERS

Insurers charge smokers more for insurance because they’re more prone to illness and therefore riskier to insure. Fortunately, MoneyGeek created a list of affordable life insurance policies for smokers.

If you smoke, it might be ideal to purchase a 20-year policy since insurance rates for smokers significantly increase as you age.

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Insurance Rates

Methodology

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 the Author


Mark Fitzpatrick headshot

Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.


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