Best Life Insurance Companies in Long Beach, CA

MoneyGeek ranks Transamerica as the best overall life insurance provider in Long Beach for adults. Young adults, seniors and smokers can also find the best life insurance policies with the insurer. Policy prices in Long Beach start at $9 per month for $250K coverage policies and $20 per month for state-recommended policies.

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Advertising & Editorial DisclosureLast Updated: 12/22/2022
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With a life insurance policy, you can provide financial assistance to your beneficiaries if you pass away. We at MoneyGeek are committed to helping you find a Long Beach insurance policy that fits your lifestyle by comparing prices.

Find Long Beach life insurance companies that offer the best rates based on your age, gender and smoking history with MoneyGeek.

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2023

Best Life Insurance Companies in Long Beach, CA, for 2023

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Best Cheap Life Insurance in Long Beach

It is important to note that gender and coverage amount are two major factors affecting life insurance prices. For a policy with a $250K coverage limit in Longbeach, Transamerica is the most affordable company at $9 per month for men and $7 per month for women.

Although a policy with a $250,000 coverage limit is less expensive, it might not be sufficient for most people. An amount of coverage is recommended in each state based on its cost of living, average income, average personal debt and average age.

The recommended coverage amount of $1,130,000 in California will ensure your loved ones are adequately supported financially. Both men and women can get the cheapest insurance for this coverage level with Transamerica. On average, men pay $20 per month, while women pay $16.

Cheapest Life Insurance Companies for Males and Females in Long Beach
  • Cheapest For
    $250K Coverage
    $1,130,000 Coverage (Recommended)
  • Male

    Transamerica

    Transamerica

  • Female

    Transamerica

    Transamerica

Life Insurance Costs in Long Beach for Men and Women

In Long Beach, life insurance for men costs about 3% less than the average cost for men in California, according to MoneyGeek. Meanwhile, Long Beach-based women pay around 8% less than California's average life insurance cost.

By comparing coverage amounts and policy length, MoneyGeek looked at the average life insurance cost in Long Beach for men and women. For a $250K life insurance policy, the average cost is $16 per month for men and $14 per month for women.

For an additional fee, you can purchase California's recommended coverage level of $1,130,000 if you need more coverage. The higher state-recommended coverage in Long Beach costs approximately $42 per month for both men and women.

For a 10-year term policy, regardless of coverage level, the average monthly cost for men is $24 and for women is $23.

Average Monthly Life Insurance Rates in Long Beach: Men

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Transamerica
    $9
    $20
  • Nationwide
    $11
    $23
  • MassMutual
    $11
    $25
  • Mutual of Omaha
    $12
    $26
  • AAA
    $13
    $29
  • State Farm
    $17
    $38
  • Prudential
    $28
    $52
  • Progressive Life
    $16
    $60
Average Monthly Life Insurance Rates in Long Beach: Women

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Transamerica
    $7
    $16
  • Nationwide
    $10
    $16
  • Mutual of Omaha
    $10
    $18
  • MassMutual
    $9
    $18
  • Progressive Life
    $11
    $44
  • AAA
    $15
    $45
  • State Farm
    $18
    $54
  • Prudential
    $17
    $66

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

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LIFE INSURANCE OFTEN COSTS LESS FOR WOMEN

There is a strong correlation between gender and life insurance premiums. According to the National Center for Health Statistics (NCHS), women pay lower insurance premiums because they live longer. There are several factors why women outlive men, including their riskier occupations and their reluctance to see a doctor regularly.

Life insurance policies are mostly held by men, despite statistics showing women live longer. Women should purchase a good life insurance policy regardless of their role in the household. Children, parents in need of care and other dependents will benefit from life insurance.

Most Popular Life Insurance Companies in California

With respective market shares of 8%, 7%, and 5%, New York Life, Transamerica, and Northwestern Mutual are the three most popular life insurance companies in California. In the state of California, the seven largest life insurance companies make up 37% of the market share.

MoneyGeek lists California's most popular life insurance companies and their market shares in the table below.

Most Popular Life Insurance Companies in California

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  • Company
    Market Share
  • New York Life
    8%
  • Transamerica
    7%
  • Lincoln Financial
    5%
  • Northwestern Mutual
    5%
  • Prudential
    4%
  • Pacific Life
    4%
  • MassMutual
    4%
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MONEYGEEK DICTIONARY

Comparing a company's sales to its competitors is how it determines its market share. When a company has a high market share, it is more likely to dominate the market. The company with the highest market share sold more policies than the company with the lowest market share.

MoneyGeek's analysis provides market share information based on each company's total premiums from S&P Global.

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Cheapest Life Insurance for Young People in Long Beach

A monthly life insurance premium for a young person in Long Beach typically ranges from $17 to $26. For this age group, MoneyGeek found the cheapest life insurance companies to be:

  • Transamerica: $17 per month
  • Mutual of Omaha: $18 per month

In the table below, you will find the complete list of the most affordable life insurance companies for young adults in Long Beach.

Best Life Insurance Companies for Young People in Long Beach, CA

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  • Company
    Monthly Cost
  • Transamerica
    $17
  • Mutual of Omaha
    $18
  • MassMutual
    $18
  • AAA
    $20
  • State Farm
    $22
  • Nationwide
    $23
  • Prudential
    $23
  • Progressive Life
    $26

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Long Beach who is 5 feet 10 inches and 152 pounds that purchases 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.

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LIFE INSURANCE IS CHEAPER FOR YOUNG PEOPLE

In general, life insurance costs less when you're younger and more as you age. Buying a policy at a young age will help you save on life insurance in Long Beach because rates are lower.

Cheapest Life Insurance for Seniors in Long Beach

Long Beach seniors pay $37 to $85 a month on average for life insurance. MoneyGeek found the following companies to be the cheapest for older adults in Long Beach:

  • Transamerica: $37 per month
  • MassMutual: $39 per month

In the table below, you can find more life insurance companies with the lowest rates for seniors in Long Beach.

Best Life Insurance Companies for Seniors in Long Beach, CA

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  • Company
    Monthly Cost
  • Transamerica
    $37
  • MassMutual
    $39
  • State Farm
    $43
  • Nationwide
    $43
  • AAA
    $44
  • Mutual of Omaha
    $45
  • Progressive Life
    $67
  • Prudential
    $85

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

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LIFE INSURANCE COSTS MORE FOR SENIORS

Older adults are more likely to pay higher life insurance premiums since they are closer to the end of their life expectancy. The cost of premiums can be reduced by getting less coverage. A senior's beneficiaries should not need as much financial support if they are grown adults who can care for themselves.

It is common for seniors to only need life insurance to pay for funeral arrangements and debts remaining after their passing. This is why we provide $94K of coverage in our senior sample policy.

Cheapest Life Insurance for Smokers in Long Beach

In Long Beach, life insurance can cost between $141 and $210 per month for people who smoke. Among the most affordable companies in Long Beach for smokers, MoneyGeek found:

  • Transamerica: $141 per month
  • Nationwide: $154 per month

Here are some other Long Beach companies offering affordable rates to smokers.

Best Life Insurance Companies for Smokers in Long Beach, CA

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  • Company
    Monthly Cost
  • Transamerica
    $141
  • Nationwide
    $154
  • State Farm
    $167
  • Mutual of Omaha
    $171
  • MassMutual
    $171
  • AAA
    $180
  • Prudential
    $196
  • Progressive Life
    $211

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

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LIFE INSURANCE IS VERY EXPENSIVE FOR SMOKERS

As a result of their proneness to life-threatening illnesses, life insurance companies consider smokers risky to insure. This results in higher insurance rates for smokers. Smokers still have access to affordable life insurance options like those provided above. Buying a long-term policy (20 years) is also a good idea if you're a smoker since your rates will exponentially rise as you get older.

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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


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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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