Best Life Insurance Companies in Moreno Valley, CA, for 2023

Life insurance provides financial support for your beneficiaries if you pass away. Shopping around and comparing rates from different lenders can help you find the best life insurance in Moreno Valley for you. To help you get started, MoneyGeek found the best life insurance companies in Moreno Valley based on gender, age and smoking history.

Your life insurance premium will differ based on your gender and your policy’s coverage amount. Transamerical offers the cheapest $250K policy in Moreno Valley, charging an average of $9 for men and $7 per month for women.

In most cases, a policy with a $250K coverage limit will not provide enough coverage. To assess how much coverage you should purchase, states provide a recommended coverage amount based on cost of living, household income, average personal debt, age and other state-specific factors. In California, the state’s recommended coverage is $1,130,000.

To ensure the financial security of your family, you may want to purchase the state-recommended coverage amount. For policies with this added coverage, Transamerica offers the best deal for men and women at $19 and $14, respectively.

MoneyGeek calculated the average cost of life insurance for men and women in Moreno Valley based on the level of coverage and the length of the policy. California's average cost of life insurance for men is 8% lower in Moreno Valley than in the rest of the state. The cost of life insurance for Moreno Valley women is also 19% less than the state’s average.

In general, the cost of life insurance is higher for men than women. In Moreno Valley, males pay $16 per month for an insurance policy with a default coverage limit of $250K, while females pay $12 per month.

Depending on the state's recommended coverage amount and variables like per capita income, mortgage debt, personal debt and age, insurance rates may vary significantly. For California's state-recommended coverage amount of $1,130,000, the average policy for men and women in Moreno Valley costs $40 and $37 per month, respectively.

Your policy term length also impacts the cost of your monthly premium. The average cost of a 10-year term policy in Moreno Valley is $23 per month for men and $21 per month for women.

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

The three most popular life insurance companies in California are New York Life, Transamerica and Northwestern Mutual, with respective market shares of 8%, 7% and 5%. The seven most popular companies in California hold 39% of the total market share.

The following table shows which life insurance companies are most popular in California, as compiled by MoneyGeek.

The average cost of a life insurance premium for young adults in Moreno Valley is between $16 and $25 per month. MoneyGeek found that the following companies offer the most affordable life insurance in Moreno Valley to young people:

• Transamerica: $16 per month
• Mutual of Omaha: $17 per month

The table below includes additional life insurance companies in Moreno Valley, alongside their respective rates for young people in the city.

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Moreno Valley who is 5 feet 10 inches and 152 pounds that purchases a 20-year term contract at the average coverage need of $360K. We chose a 20-year term to provide a longer coverage period for a younger buyer.

On average, life insurance for seniors in Moreno Valley costs between $36 and $80 per month. Below are two of the cheapest life insurance companies in Moreno Valley:

• Transamerica: $36 per month
• MassMutual: $37 per month

You can review the table below to compare rates for other affordable life insurance providers for seniors in Moreno Valley.

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

Moreno Valley life insurance quotes for smokers range from $134 to $200 per month, on average. In Moreno Valley, MoneyGeek found the following companies offer the cheapest policies for smokers:

• Transamerica: $134 per month
• Nationwide: $146 per month

More information about cheap insurance providers for smokers in Moreno Valley is included in the table below.

Rates were determined by analyzing quotes for a 30-year-old male smoker in Moreno Valley 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.

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.