Best Life Insurance Companies in Overland Park, KS, for 2023

Life insurance provides financial support to your beneficiaries if you pass away. With the number of life insurance companies in Overland Park, shopping around and comparing rates can help you find the best policy for your needs.

MoneyGeek’s evaluation of the best life insurance companies in Overland Park based on buyer age, gender and lifestyle can help you select the ideal lender for you and your dependents.

Your gender and your policy’s coverage impact the cost of your life insurance. For a policy with a coverage limit of $250K, MassMutual is the most affordable life insurance provider for men and women in Overland Park. Men pay an average of $14 per month, while women pay $12 per month for policies from this insurer.

A policy with a $250K coverage limit is inexpensive, but it may not provide enough coverage for your beneficiaries. A good life insurance benchmark is the state’s recommended coverage amount, which takes into account state-specific factors like average income, average personal debt and average age. In Kansas, the state’s recommended coverage amount is $661K.

For the recommended coverage amount of $661K in Kansas, MassMutual offers the cheapest life insurance for men at $23 per month, while Nationwide offers the cheapest policy for women at $17 per month.

Men in Overland Park pay 37% more than the average cost of life insurance in Kansa. Meanwhile, women in the city pay 23% more than the state average.

It’s evident that gender impacts the cost of life insurance. In Overland Park, men pay approximately $25 per month for a policy with a coverage limit of $250K, while women only pay $20 per month for the same policy.

Rates also change when you select a policy with the state’s recommended coverage amount, in this case $661K. On average, men in Overland Park pay $23 per month, while women pay $17 per month for the recommended coverage amount in Kansas. This amount is based on per capita income from the U.S. Bureau of Economic Analysis, age, average personal debt and average mortgage debt.

Furthermore, the length of your policy will affect the cost of your life insurance. For a 10-year term policy, regardless of coverage amount, men and women in Overland Park pay $34 per month and $26 per month, respectively.

Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Overland Park using average buyer profile statistics, including the average age of 30, the average weight of 202 pounds for males and 160 pounds for females, and an average coverage need of $661,000.

Based on market shares of 10%, 6% and 5%, the three most popular life insurance companies in Kansas are Northwestern Mutual, New York Life and State Farm, respectively. Kansas’s seven most popular life insurance companies comprise approximately 37% of the market share.

Below, MoneyGeek provided Kansas’s most popular life insurance companies and their market shares.

The average cost of life insurance in Overland Park for young adults is between $22 and $34 per month. MoneyGeek found that the following two providers offer the best rates for young people in the city:

• Mutual of Omaha: $22 per month
• MassMutual: $22 per month

In the table below, you can review additional life insurance quotes in Overland Park for young people.

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Overland Park who is 5 feet 10 inches and 172 pounds that purchases a 20-year term contract at the average coverage need of $280K. We chose a 20-year term to provide a more extended coverage period for a younger buyer.

The cost of life insurance in Overland Park for seniors ranges from $52 to $110 per month. Based on our research, the following two companies offer the most affordable life insurance to seniors in the city:

• MassMutual: $52 per month
• Mutual of Omaha: $59 per month.

Below, you’ll see more of the best and most affordable insurance providers in Overland Park for seniors.

Rates were determined by analyzing quotes for a 60-year-old male non-smoker in Overland Park who is 5 feet 10 inches and 202 pounds that purchases a 10-year term contract at the average coverage need of $84K.

For people who smoke in Overland Park, the average cost of life insurance is between $108 and $197 per month. Based on our findings, the following insures offer the cheapest life insurance for smokers in Overland Park:

• Nationwide: $147 per month
• MassMutual: $148 per month

The table below illustrates the rates of the other cheapest insurers in the city for people who smoke.

Rates were determined by analyzing quotes for a 30-year-old male smoker in Overland Park who is 5 feet 10 inches and 202 pounds that purchases a 20-year term contract at the average coverage need of $661K. If you are a smoker, we suggest buying a longer-term (20-year) policy to provide more extended coverage as rates for smokers increase as you age.

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. Remember that each buyer is unique and may need more or less coverage depending on their circumstances.