Best Life Insurance Companies in Omaha, NE, for 2023

Having life insurance ensures the protection of your loved ones from financial hardships after your death. If you want the cheapest rates while looking for life insurance quotes in Omaha, it's best to shop around and compare different policies.

In this guide, MoneyGeek researched Omaha's best life insurance companies to help you find the most suitable policy based on your age, gender and smoking history.

Your gender and coverage amount significantly impact your life insurance rates. In Omaha, Transamerica offers the cheapest $250K coverage amount policy for men at an average cost of $10 per month. For women, Mass Mutual’s policies are the most affordable, with an average monthly cost of $10.

A policy with $250K worth of coverage will be cheaper. However, MoneyGeek recommends that you buy a policy with at least $710K worth of coverage in Omaha. We determined this amount after analyzing the cost of living, average income, average personal debt, average age and other important factors of the state.

For a policy with $710K worth of coverage, Transamerica is the cheapest option for men with an average cost of $20 per month, while for women, Nationwide’s policies are the most affordable at an average monthly price of $15.

Your gender affects how much you pay for life insurance in Omaha. Compared to the average cost of life insurance in Nebraska, men pay approximately 6% more for a policy, while women pay only 1% more.

In Omaha, men pay an average of $19 per month for a policy with $250K worth of coverage, while women spend an average monthly cost of $17 for the same policy.

The rates significantly change for a policy with the state’s recommended coverage amount, usually based on several factors such as per capita income from the U.S. Bureau of Economics, average mortgage debt, average personal debt and average age. Nebraska’s recommended coverage amount is $710K. On average, men pay $36 per month for a policy with this coverage amount, while women pay $36 per month.

For a 10-year term policy, men pay an average of $23 per month, while the average cost of a 10-year term policy for women is $23 per month, regardless of the coverage limit.

Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Omaha using average buyer profile statistics, including the average age of 32, the average weight of 183 pounds for males and 145 pounds for females, and an average coverage need of $710,000.

In Nebraska, the three most popular companies based on market share are Northwestern Mutual (10%), Pacific Life (6%) and State Farm (5%). MoneyGeek found that the seven most popular insurance companies in the state make up 38% of the insurance market. We listed the seven most popular insurance companies in the table below.

If you’re a young person looking for life insurance in Omaha, expect to pay anywhere between $14 to $24 per month for a policy. MoneyGeek researched the following two insurers offering the cheapest life insurance in the city for young adults on average:

• Transamerica: $14 per month
• Mutual of Omaha: $16 per month

In the table below, we researched other companies offering life insurance quotes in Omaha for young people.

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Omaha who is 5 feet 10 inches in height and weighs 156 pounds with a 20-year term contract at the average coverage amount of $270,000. We chose a 20-year term to provide a longer coverage period for a younger buyer.

In Omaha, the cost of a life insurance policy for seniors ranges between an average of $41 and $84 per month. MoneyGeek’s research shows that the following companies offer the most affordable policies for seniors in the city on average:

• Mass Mutual: $41 per month
• State Farm: $44 per month

The table below will help you explore other companies offering life insurance for seniors in the city.

Rates were determined by analyzing quotes for a 60-year-old male non-smoker in Omaha who is 5 feet 10 inches tall and weighs 183 pounds with a 10-year term contract at the average coverage need of $80,000.

On average, the cost of a life insurance policy for smokers ranges between $112 and $202. MoneyGeek researched different insurers and found that, on average, the following companies offer the most affordable policies for smokers in Omaha:

• Transamerica: $112 per month
• State Farm: $133 per month

We listed other insurance companies that offer life insurance policies for smokers in the city in the table below.

Rates were determined by analyzing quotes for a 32-year-old male smoker in Omaha who is 5 feet 10 inches tall and weighs 183 pounds with a 20-year term contract at the average coverage level of $710,000.

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.