Updated: May 22, 2024
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Having life insurance is one way to ensure that your beneficiaries can get by financially when you pass away. Since there are numerous life insurance companies in North Las Vegas, Nevada, to choose from, it can be hard to find the best for your circumstances.
This MoneyGeek guide listed the best life insurance companies in North Las Vegas, Nevada, for different buyer profiles.
BestLife InsuranceNorth Las VegasBest Life Insurance Companies in North Las Vegas, NV, for 2023
Life insurance quotes in North Las Vegas vary based on gender and the coverage amount. The cheapest policy with a $250K coverage amount is offered by MassMutual at $11 monthly for men and $8 monthly for women.
Although it is affordable, a $250K coverage-limit policy might be insufficient. Based on state-specific factors and buyer profiles, Nevada recommends policies with at least $788,000 in coverage.
The cheapest policies with this coverage limit for men come from MassMutual at an average of $22 monthly. Nationwide offers the cheapest $788K policies for women at an average of $14 monthly.
Cheapest For | $250K Coverage | $788K Coverage (Recommended) |
|---|---|---|
Male | MassMutual | MassMutual |
Female | MassMutual | Nationwide |
Gender and policy amount are two of the many factors that impact life insurance costs. In North Las Vegas, men pay approximately 3% more than the state average, while women pay about 10% less than the state average.
A $250K coverage-limit policy costs $19 per month for men and $15 per month for women.
By increasing the coverage level to meet Nevada’s recommended coverage amount of $788,000 (based on factors like per capita income from the U.S. Bureau of Economic Analysis, average mortgage debt, average personal debt and average age), the cost of monthly premiums jumps to $45 for men and $33 for women.
Additionally, men pay an average of $27 per month and women pay an average of $20 per month for a 10-year term policy regardless of the limit.
| MassMutual | Rates for $250K Coverage$11 | Rates for $926K Coverage (Recommended) $22 |
| Nationwide | Rates for $250K Coverage$12 | Rates for $926K Coverage (Recommended) $22 |
| Mutual of Omaha | Rates for $250K Coverage$12 | Rates for $926K Coverage (Recommended) $23 |
| Transamerica | Rates for $250K Coverage$12 | Rates for $926K Coverage (Recommended) $26 |
| AAA | Rates for $250K Coverage$17 | Rates for $926K Coverage (Recommended) $39 |
| Nationwide | Rates for $250K Coverage$9 | Rates for $926K Coverage (Recommended) $14 |
| MassMutual | Rates for $250K Coverage$8 | Rates for $926K Coverage (Recommended) $15 |
| Mutual of Omaha | Rates for $250K Coverage$10 | Rates for $926K Coverage (Recommended) $15 |
| Transamerica | Rates for $250K Coverage$11 | Rates for $926K Coverage (Recommended) $27 |
| State Farm | Rates for $250K Coverage$18 | Rates for $926K Coverage (Recommended) $33 |
Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in North 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.
Gender plays a role in determining life insurance costs. North Las Vegas charges men higher insurance costs than women since men have a shorter life expectancy than women. According to a Harvard study, women tend to outlive men as they are less likely to engage in dangerous activities than men.
However, a study found that men are more likely to buy life insurance than women. Whether you are a working woman whose family depends on you for financial support, a single mom primarily responsible for your child or a stay-at-home mom, it’s a good idea to get life insurance.
Based on averages determined by MoneyGeek’s analysis, Prudential Financial Inc. (6%), New York Life (6%) and Lincoln Financial (5%) have the highest market share in North Las Vegas. Overall, the seven most popular companies in the city make up roughly 35% of the market share.
In the table below, MoneyGeek listed the most popular life insurance companies in North Las Vegas according to their market shares.
| New York Life | Market Share6% |
| Prudential | Market Share6% |
| Lincoln Financial | Market Share5% |
| Northwestern Mutual | Market Share5% |
| Transamerica | Market Share4% |
Market share reflects the percentage of sales relative to other companies in the industry. Companies with the highest market share dominate the market. In this guide, the market share data is derived from S&P Global’s 2020 market intelligence reports.
In North Las Vegas, the average life insurance premiums for young people can range between $14 and $24 per month. MoneyGeek found that, on average, the two most affordable insurers for young people in North Las Vegas are:
Compare life insurance quotes in North Las Vegas for young people in the table below.
| Transamerica | Monthly Cost$14 |
| Mutual of Omaha | Monthly Cost$16 |
| MassMutual | Monthly Cost$16 |
| AAA | Monthly Cost$17 |
| Prudential | Monthly Cost$19 |
Rates were determined by analyzing quotes for a 25-year-old male non-smoker in North Las Vegas who is 5 feet 10 inches, 165 pounds and purchases a 20-year term contract at the average coverage need of $270,000. We chose a 20-year term to provide a longer coverage period for a younger buyer.
Getting life insurance before you are 25 is cheaper than when you’re older. It also gets expensive as you age since policy costs increase as you become more prone to certain illnesses. Purchasing life insurance while you’re young is one of the best strategies to get cheaper life insurance.
Average North Las Vegas life insurance quotes for seniors range between $40 and $82 per month. Based on MoneyGeek’s study, the top life insurance companies with the cheapest average rates for seniors include:
See the table below to compare the best and the cheapest insurers in North Las Vegas for seniors.
| MassMutual | Monthly Cost$40 |
| Mutual of Omaha | Monthly Cost$45 |
| Nationwide | Monthly Cost$46 |
| State Farm | Monthly Cost$48 |
| AAA | Monthly Cost$60 |
Rates were determined by analyzing quotes for a 60-year-old male non-smoker in North Las Vegas who is 5 feet 10 inches, 194 pounds and purchases a 10-year term contract at the average coverage need of $80,000.
Seniors are usually viewed as risky to insure and therefore have higher life insurance premiums than the average adult. However, they usually don’t need that much coverage as their beneficiaries are more likely to be financially independent adults. At the very least, life insurance coverage is expected to cover funeral and burial expenses as well as estate taxes or debts. As a result, MoneyGeek’s quoted premiums for seniors are lower than the limits for other demographics.
If you’re a smoker looking for life insurance in North Las Vegas, expect insurance premiums to range between $111 and $251 per month. On average, the top two most affordable companies in North Las Vegas for smokers are:
The table below shows a list of the best and cheapest life insurance companies in North Las Vegas for smokers.
| Transamerica | Monthly Cost$111 |
| MassMutual | Monthly Cost$132 |
| State Farm | Monthly Cost$136 |
| Nationwide | Monthly Cost$142 |
| Mutual of Omaha | Monthly Cost$146 |
Rates were determined by analyzing quotes for a 30-year-old male smoker in North Las Vegas who is 5 feet 10 inches, 194 pounds and purchases a 20-year term contract at the average coverage need of $788,000. If you are a smoker, we suggest buying a longer-term (20-year) policy to provide longer coverage as rates for smokers increase significantly as you age.
People who smoke are prone to smoking-related illnesses, including heart attack, stroke and coronary heart diseases, which reduce their life expectancy. Therefore, smokers are deemed risky to insure, causing life insurance rates to increase. You can still get affordable life insurance for smokers by comparing insurers that offer cheap rates for your profile. MoneyGeek recommends buying at least a 20-year term policy since premiums increase exponentially with a history of smoking.
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.
