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Life insurance provides financial assistance to your beneficiaries when you pass away. With so many life insurance companies in Mesa to choose from, comparing quotes can help you find the coverage that best fits your needs and lifestyle.

MoneyGeek Logo IconBestLife InsuranceMesa, AZ
2023

Best Life Insurance Companies in Mesa, AZ, for 2023

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Best Cheap Life Insurance in Mesa

Life insurance rates are mostly influenced by two factors: gender and coverage amount. MassMutual provides the cheapest life insurance in Mesa, Arizona, for $250K coverage to both men and women, with policies costing an average of $11 per month and $9 per month, respectively.

Although life insurance policies with $250K coverage are cheaper, most people may find it insufficient for their needs. For additional coverage, you should consider getting the state-recommended coverage amount, which is based on state-specific factors, such as the cost of living, average personal debt, average income and average age.

In Mesa, Nationwide offers the cheapest life insurance policies that include the state-recommended coverage of $708K to both men and women for $20 and $14 per month, respectively.

Cheapest Life Insurance Companies for Males and Females in Mesa
Cheapest For
$250K Coverage
$708K Coverage (Recommended)

Male

MassMutual

Nationwide

Female

MassMutual

Nationwide

Life Insurance Costs in Mesa for Men and Women

The cost of life insurance varies based on your gender. Women in Mesa, for example, pay 6% less than the state average, while men pay 3% more.

Based on the level of coverage and policy term, MoneyGeek analyzed the estimated cost of life insurance for men and women in Mesa. Men spend roughly $21 per month for life insurance with $250K coverage, while women pay around $14 per month for the same policy.

The more coverage you have, the more your policy will cost. Policies that include the higher state-recommended coverage amount of $708K cost approximately $41 per month for men and $21 per month for women.

Men in Mesa pay $26 per month, on average, for a 10-year term insurance coverage, while women pay approximately $18 per month for the same coverage.

Average Monthly Life Insurance Rates in Mesa: Men
Company
Rates for $250K Coverage
Rates for $926K Coverage (Recommended)

Nationwide

$12

$20

MassMutual

$11

$20

Mutual of Omaha

$12

$21

Transamerica

$16

$33

AAA

$17

$35

State Farm

$21

$41

Prudential

$30

$50

Progressive Life

$25

$54

Average Monthly Life Insurance Rates in Mesa: Women
Company
Rates for $250K Coverage
Rates for $926K Coverage (Recommended)

Nationwide

$10

$14

Mutual of Omaha

$10

$14

MassMutual

$9

$14

Transamerica

$11

$23

AAA

$12

$25

State Farm

$16

$27

Prudential

$18

$29

Progressive Life

$17

$35

Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Mesa using average buyer profile statistics, including the average age of 30, the average weight of 197 pounds for males and 156 pounds for females, and an average coverage need of $708,000.

woman icon
LIFE INSURANCE OFTEN COSTS LESS FOR WOMEN

Gender significantly affects the cost of your life insurance. Because women have a longer average life expectancy than men, they pay less. Statistically, for example, men are more likely to participate in risky activities, develop heart disease and work in hazardous environments. As a result, providers charge men more for life insurance.

However, research suggests that males are more likely than women to get life insurance. Still, it’s a smart idea for women to invest in a life insurance policy as they’re often high-earners and significant contributors to their home’s financial stability.

Most Popular Life Insurance Companies in Arizona

MoneyGeek's study found that Prudential Financial Inc., Northwestern Mutual and Lincoln Financial are the most popular life insurance firms in Arizona based on respective market shares of 7%, 6% and 5%.

When the market shares of Arizona's top seven life insurance firms are added together, the total is 35%. The table below shows the aforementioned top seven insurers in the state.

Most Popular Life Insurance Companies in Arizona
Company
Market Share

Prudential

7%

Northwestern Mutual

6%

New York Life

5%

Pacific Life

5%

Lincoln Financial

5%

State Farm

4%

John Hancock

3%

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MONEYGEEK DICTIONARY

The market share of a company represents its percentage of sales in comparison to others in its industry. A large market share suggests a business has sold more policies than its competitors and is more prominent in the industry. MoneyGeek's market share statistics were collected from premium data available in the S&P Global 2020 Annual Report.

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Cheapest Life Insurance for Young People in Mesa

Life insurance premiums for younger people in Mesa can range from $16 to $46 per month. MoneyGeek discovered that the two cheapest insurers in the city for young people are:

  • MassMutual: $16 per month
  • AAA: $17 per month

In the table below, you can compare various life insurance quotes in Mesa for young individuals.

Best Life Insurance Companies for Young People in Mesa, AZ
Company
Monthly Cost

MassMutual

$16

AAA

$17

Nationwide

$19

Transamerica

$21

Mutual of Omaha

$21

State Farm

$22

Progressive Life

$22

Prudential

$46

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Mesa who is 5 feet 10 inches and 168 pounds that purchases a 20-year term contract at the average coverage need of $240K. We chose a 20-year term to provide a longer coverage period for a younger buyer.

teen icon
LIFE INSURANCE IS CHEAPER FOR YOUNG PEOPLE

Life insurance costs less for younger individuals and becomes more expensive as you age. To save money, it's best to buy life insurance when you're young.

Cheapest Life Insurance for Seniors in Mesa

The average cost of life insurance for seniors in Mesa ranges from $40 to $82 per month. According to MoneyGeek's research, the city's cheapest firms for seniors are:

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

More life insurance providers with the best prices for seniors in Mesa may be found in the table below.

Best Life Insurance Companies for Seniors in Mesa, AZ
Company
Monthly Cost

MassMutual

$40

Mutual of Omaha

$45

Nationwide

$46

State Farm

$48

AAA

$60

Progressive Life

$71

Transamerica

$73

Prudential

$82

Rates were determined by analyzing quotes for a 60-year-old male non-smoker in Mesa who is 5 feet 10 inches and 197 pounds that purchases a 10-year term contract at the average coverage need of $73K.

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LIFE INSURANCE COSTS MORE FOR SENIORS

Seniors pay more for life insurance because their policies are likely to outlast them. However, they usually don't require as much coverage since their dependents are more likely to be financially independent. As such, if you’re older, you can save money on life insurance by opting for a policy with lower coverage. MoneyGeek's sample senior insurance coverage of $100K is typically enough to cover funeral expenses and arrangements.

Cheapest Life Insurance for Smokers in Mesa

On average, smokers in Mesa pay between $100 and $221 per month for life insurance. According to MoneyGeek, the cheapest life insurance carriers in Mesa for smokers are:

  • Transamerica: $100 per month
  • MassMutual: $119 per month

Check out the chart below for more information on the city's least expensive insurers for smokers.

Best Life Insurance Companies for Smokers in Mesa, AZ
Company
Monthly Cost

Transamerica

$100

MassMutual

$119

State Farm

$123

Nationwide

$126

Mutual of Omaha

$132

Prudential

$149

Progressive Life

$187

AAA

$221

Rates were determined by analyzing quotes for a 30-year-old male smoker in Mesa who is 5 feet 10 inches and 197 pounds that purchases a 20-year term contract at the average coverage need of $708K. 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.

girlThinking icon
LIFE INSURANCE IS VERY EXPENSIVE FOR SMOKERS

Smokers are considered high-risk by life insurance companies because they are more susceptible to chronic, life-threatening diseases. As a result, smokers typically pay higher insurance premiums. With that said, there are still several cheap life insurance options for smokers. If you smoke, consider purchasing a 20-year term coverage because smokers' rates increase significantly with age.

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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 Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick is a senior content director at MoneyGeek with over five years of experience analyzing the insurance market, conducting original research and creating content that can be personalized for every buyer. He has been quoted on insurance topics in several publications, including CNBC, NBC News and Mashable.

Mark 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 economics and insurance knowledge to bring transparency around financial topics and help others feel confident in their money moves.


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