Updated: May 22, 2024
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A life insurance policy helps to financially provide for your beneficiaries when you pass away. Shopping around and comparing providers in Macon-Bibb can help you find the best rates for your profile and needs.
MoneyGeek analyzed life insurance providers to help you find the best life insurance companies in Macon-Bibb, Georgia. We also ranked the best companies for different profiles, including smokers, young adults and seniors.
BestLife InsuranceMacon-Bibb, GABest Life Insurance Companies in Macon-Bibb, GA, for 2023
At an average cost of $9 per month for men and women, Mass Mutual is the cheapest company in Macon-Bibb for a policy with $250K coverage.
For the state recommended coverage of $680,000, MassMutual is the cheapest option for men, at an average of $16 per month. Nationwide is the cheapest option for women, at around $14 per month.
It is cheaper to buy a policy with $250,000 coverage, but it might not be adequate. The recommended coverage of $680,000 is based on state-specific factors.
Cheapest For | $250K Coverage | $680K Coverage (Recommended) |
|---|---|---|
Male | MassMutual | MassMutual |
Female | MassMutual | Nationwide |
Macon-Bibb life insurance rates are typically lower than the average rates for the state of Georgia. Life insurance rates for men are up to 6% lower than the state average, while women pay up to 16% less than the state average.
A life insurance policy with the default coverage of $250K in Macon-Bibb costs an average of $18 per month for men and approximately $13 per month for women.
For a policy with the recommended state coverage of $680,000, the average cost for men is $36 per month, while women pay approximately $24 per month. This recommendation is based on factors like per capita income from the U.S. Bureau of Economic Analysis, average personal debt and the average age in the state.
Additionally, for a 10-year term policy, men pay around $23 per month while women pay roughly $16 per month. This is regardless of the coverage amount.
| MassMutual | Rates for $250K Coverage$9 | Rates for $926K Coverage (Recommended) $16 |
| Nationwide | Rates for $250K Coverage$10 | Rates for $926K Coverage (Recommended) $16 |
| Mutual of Omaha | Rates for $250K Coverage$10 | Rates for $926K Coverage (Recommended) $17 |
| State Farm | Rates for $250K Coverage$17 | Rates for $926K Coverage (Recommended) $33 |
| AAA | Rates for $250K Coverage$18 | Rates for $926K Coverage (Recommended) $41 |
| Nationwide | Rates for $250K Coverage$10 | Rates for $926K Coverage (Recommended) $14 |
| Mutual of Omaha | Rates for $250K Coverage$10 | Rates for $926K Coverage (Recommended) $14 |
| MassMutual | Rates for $250K Coverage$9 | Rates for $926K Coverage (Recommended) $14 |
| AAA | Rates for $250K Coverage$10 | Rates for $926K Coverage (Recommended) $18 |
| Prudential | Rates for $250K Coverage$18 | Rates for $926K Coverage (Recommended) $23 |
Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Macon-Bibb using average buyer profile statistics, including the average age of 30, the average weight of 193 pounds for males and 153 pounds for females, and an average coverage need of $680,000.
Life insurance costs less for women because, on average, women tend to have a longer life expectancy. This makes them less risky to insure. Men are at a higher risk for heart disease and are also more likely to engage in risky behavior. These are just some of the factors that make their life expectancy shorter.
According to studies, more men buy life insurance compared to women despite costs being cheaper for women. However, it is equally important for women to get life insurance since they play a role in the financial stability of their families, so a policy will help to protect their dependents.
The three most popular life insurance companies in Georgia are Northwestern Mutual with 11% of the average market share, Lincoln Financial with 5% and State Farm with 5%. Overall, the seven most popular companies make up approximately 36% of the total life insurance market share in Georgia. You can use the table below to see how life insurance companies compare by market share in Georgia.
| Northwestern Mutual | Market Share11% |
| Lincoln Financial | Market Share5% |
| State Farm | Market Share5% |
| MassMutual | Market Share5% |
| New York Life | Market Share4% |
Market share is the percentage of revenue or sales that a company generates compared to its competitors in the same market. MoneyGeek analyzed the most popular life insurance companies in Georgia based on market share data from S&P Global’s 2020 market intelligence reports.
Life insurance quotes in Macon-Bibb for young adults can range from $14 to $20 per month. On average, the cheapest life insurance companies in Macon-Bibb for young adults are:
You can compare the most affordable life insurance companies for young adults in the table below.
| Mutual of Omaha | Monthly Cost$14 |
| MassMutual | Monthly Cost$14 |
| AAA | Monthly Cost$15 |
| Prudential | Monthly Cost$16 |
| State Farm | Monthly Cost$17 |
Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Macon-Bibb who is 5 feet 10 inches in height and weighs 164 pounds with a 20-year term contract at the average coverage need of $260,000. We chose a 20-year term to provide a longer coverage period for a younger buyer.
Life insurance is cheaper for young adults ages 25 or younger, but rates tend to increase as you get older. This means that buying a life insurance policy at a young age is the best way to save on your life insurance costs. You can also get the best rates by comparing quotes from different lenders to find the most affordable life insurance for young adults.
In Macon-Bibb, life insurance premiums for seniors can range from $36 to $74 per month. If you are a senior looking for affordable life insurance, the cheapest life insurance companies in Macon-Bibb are, on average:
You can use the table below to compare life insurance rates for seniors in Macon-Bibb.
| MassMutual | Monthly Cost$36 |
| Mutual of Omaha | Monthly Cost$41 |
| Nationwide | Monthly Cost$41 |
| State Farm | Monthly Cost$48 |
| Progressive Life | Monthly Cost$65 |
Rates were determined by analyzing quotes for a 60-year-old male non-smoker in Macon-Bibb who is 5 feet 10 inches tall and weighs 193 pounds with a 10-year term contract at the average coverage need of $77,000.
The cost of life insurance is typically higher for seniors because they have a shorter life expectancy, which makes them riskier to insure. This means buying a life insurance policy as a senior will be more expensive.
Since most seniors typically do not have younger dependents who need coverage for future income, they can opt for a life insurance policy with lower coverage. This is why our sample policy coverage for seniors has a lower coverage than for other groups. Most seniors only need enough coverage to cover funerals and other final expenses, so lower coverage amounts are usually sufficient.
Life insurance quotes in Macon-Bibb for smokers can range from around $104 to $198 per month. On average, the most affordable companies for smokers in Macon-Bibb are:
You can use the table below to compare average life insurance rates for smokers in Macon-Bibb.
| MassMutual | Monthly Cost$104 |
| State Farm | Monthly Cost$104 |
| Nationwide | Monthly Cost$108 |
| Mutual of Omaha | Monthly Cost$114 |
| Progressive Life | Monthly Cost$160 |
Rates were determined by analyzing quotes for a 30-year-old male smoker in Macon-Bibb who is 5 feet 10 inches tall and weighs 193 pounds with a 20-year term contract at the average coverage need of $680,000.
Since smoking is a risk factor for various health conditions, smokers are considered riskier to insure. This makes their life insurance costs higher than rates for non-smokers. However, if you are a smoker in Macon-Bibb, you can still find affordable life insurance for smokers.
MoneyGeek also recommends buying a longer 20-year term policy with extended coverage since rates for smokers tend to increase exponentially with 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 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.
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.
