Best Life Insurance Companies in Oxnard, CA

After analyzing many Oxnard life insurance companies, MoneyGeek found that Transamerica is the top insurer overall as well as for young adults, seniors and smokers. In Oxnard, the cheapest costs range from $8 per month for a $250K policy to $18 per month for the state-recommended minimum level of coverage.

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Advertising & Editorial DisclosureLast Updated: 12/22/2022
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Purchasing life insurance is a reasonable decision that will help your dependents if you pass away unexpectedly. MoneyGeek examined rates and reviewed insurance providers in order to identify which life insurance firms in Oxnard, California, offer the best plans for various types of consumers.

iconBestLife InsuranceOxnard, CA
2023

Best Life Insurance Companies in Oxnard, CA, for 2023

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Best Cheap Life Insurance in Oxnard

Transamerica provides the most affordable life insurance coverage for men and women in Oxnard, with monthly premiums of $8 and $7, respectively.

While it’s cheaper, a policy that provides maximum coverage of $250,000 may not be sufficient for most people. State-specific variables determined the suggested coverage amount of $1,130,000 in California.

At this amount of coverage, Transamerica offers the most affordable life insurance in Oxnard, California, for both men and women, at $18 and $14 per month, respectively.

Cheapest Life Insurance Companies for Males and Females in Oxnard
  • Cheapest For
    $250K Coverage
    $1,130,000 Coverage (Recommended)
  • Male

    Transamerica

    Transamerica

  • Female

    Transamerica

    Transamerica

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Life Insurance Costs in Oxnard for Men and Women

MoneyGeek estimated the average cost of life insurance in Oxnard for both men and women. The premiums for life insurance for men in Oxnard are around 16% less than the state average. Similarly, Oxnard women pay approximately 19% less for life insurance than the state average.

Men in Oxnard pay about $14 per month for a $250,000 life insurance policy, while women pay approximately $12 per month for the same coverage.

For California’s recommended coverage amount of $1,130,000, MoneyGeek determined that the average monthly premium for men in Oxnard is $36 and $37 for women. The U.S. Bureau of Economic Analysis's per capita income, average life expectancy, average mortgage debt and average personal debt are among the factors that influence the average coverage needed in California.

Men and women in Oxnard pay an average of $21 per month for a 10-year term insurance coverage, regardless of the amount.

Average Monthly Life Insurance Rates in Oxnard: Men

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Transamerica
    $8
    $18
  • Nationwide
    $10
    $19
  • MassMutual
    $9
    $22
  • Mutual of Omaha
    $10
    $22
  • AAA
    $11
    $25
  • State Farm
    $15
    $33
  • Prudential
    $24
    $44
  • Progressive Life
    $13
    $52
Average Monthly Life Insurance Rates in Oxnard: Women

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Transamerica
    $7
    $14
  • Nationwide
    $8
    $14
  • Mutual of Omaha
    $9
    $16
  • MassMutual
    $8
    $16
  • Progressive Life
    $10
    $39
  • AAA
    $13
    $40
  • State Farm
    $16
    $47
  • Prudential
    $15
    $58

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

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LIFE INSURANCE OFTEN COSTS LESS FOR WOMEN

Your gender is the key determinant of your life insurance premiums. In most regards, men pay more for life insurance than women in Oxnard.

According to a study conducted by the National Center for Health Statistics (NCHS), because women have a longer projected lifespan, they frequently pay the lowest rates for life insurance. In general, women live longer than men due to men's more physically demanding work and other factors.

Despite the fact that women live longer than men, the majority of consumers who get life insurance are men. Whether or not they are the principal breadwinners in their families, it is wise for women to get life insurance.

Most Popular Life Insurance Companies in California

According to our analysis, New York Life, Transamerica and Northwestern Mutual are the three most prominent companies offering life insurance in California. On average, New York Life has the largest market share in the state with 8%, followed by Transamerica at 7% and Northwestern Mutual at 5%.

The combined market shares of California's seven major life insurance companies constitute around 39% of the state's life insurance sector. Here are the seven most prominent providers of life insurance in the state.

Most Popular Life Insurance Companies in California

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  • Company
    Market Share
  • New York Life
    8%
  • Transamerica
    7%
  • Lincoln Financial
    5%
  • Northwestern Mutual
    5%
  • Prudential
    4%
  • Pacific Life
    4%
  • MassMutual
    4%
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MONEYGEEK DICTIONARY

A company's market share can be defined as the percentage of total sales or revenue that it earns in contrast to its competitors operating within the same industry. Using market intelligence reports from S&P Global for 2020, MoneyGeek compiled a list of the most popular California life insurance firms for this guide.

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Cheapest Life Insurance for Young People in Oxnard

Monthly life insurance rates for young individuals in Oxnard typically range from around $14 to $22. On average, MoneyGeek determined the best cost-effective life insurance companies for this age group to be:

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

Here is a complete list of the best life insurance providers in Oxnard for young adults.

Best Life Insurance Companies for Young People in Oxnard, CA

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  • Company
    Monthly Cost
  • Transamerica
    $14
  • Mutual of Omaha
    $16
  • MassMutual
    $16
  • AAA
    $18
  • State Farm
    $19
  • Nationwide
    $20
  • Prudential
    $20
  • Progressive Life
    $22

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Oxnard who is 5 feet 10 inches tall and weighs 152 pounds with a 20-year term contract at the average coverage need of $360,000. We chose a 20-year term to provide a longer coverage period for a younger buyer.

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LIFE INSURANCE IS CHEAPER FOR YOUNG PEOPLE

When purchasing life insurance at a younger age, the prices are typically lower. Nonetheless, the expenses of the policy steadily increase with the policyholder's advancing age. Since rates are typically lower, getting life insurance when you are young is the best way to save money on Oxnard life insurance.

Cheapest Life Insurance for Seniors in Oxnard

The average cost of life insurance for seniors in Oxnard ranges from $32 to $73, on average. According to MoneyGeek's study, the most affordable firms for seniors in Oxnard are, on average:

  • Transamerica: $32 per month
  • MassMutual: $34 per month

For a list of other Oxnard life insurance providers with the most affordable premiums for senior citizens, see the table below.

Best Life Insurance Companies for Seniors in Oxnard, CA

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  • Company
    Monthly Cost
  • Transamerica
    $32
  • MassMutual
    $34
  • State Farm
    $37
  • Nationwide
    $37
  • AAA
    $38
  • Mutual of Omaha
    $39
  • Progressive Life
    $58
  • Prudential
    $73

Rates were determined by analyzing quotes for a 60-year-old male non-smoker in Oxnard who is 5 feet 10 inches tall and weighs 179 pounds with a 10-year term contract at the average coverage need of $107,000.

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LIFE INSURANCE COSTS MORE FOR SENIORS

Elderly people often have higher life insurance premiums to pay since they have a shorter expected lifespan than younger people. Purchasing less coverage is one way to save money on life insurance for seniors. If the beneficiaries of a senior's life insurance policy are capable, mature adults, they are more likely to be comfortable with purchasing less coverage.

The majority of senior citizens only require life insurance to cover last expenses and financial obligations. In light of this, the sample policy coverage for older citizens in Oxnard is set at $107,000.

Cheapest Life Insurance for Smokers in Oxnard

In Oxnard, the average monthly cost of life insurance for a smoker ranges from $122 to $181. According to our research, the following insurers offer the lowest average prices to smokers in Oxnard:

  • Transamerica: $122 per month
  • Nationwide: $133 per month

The following table outlines top Oxnard-based insurers who provide inexpensive rates to smokers.

Best Life Insurance Companies for Smokers in Oxnard, CA

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  • Company
    Monthly Cost
  • Transamerica
    $122
  • Nationwide
    $133
  • State Farm
    $144
  • Mutual of Omaha
    $147
  • MassMutual
    $148
  • AAA
    $155
  • Prudential
    $169
  • Progressive Life
    $181

Rates were determined by analyzing quotes for a 30-year-old male smoker in Oxnard who is 5 feet 10 inches tall and weighs 179 pounds with a 20-year term contract at the average coverage need of $1,130,000.

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LIFE INSURANCE IS VERY EXPENSIVE FOR SMOKERS

Due to their increased susceptibility to diseases that diminish life expectancy, life insurance providers view people who smoke as high-risk clients. Therefore, life insurance premiums for smokers are frequently higher. However, smokers have access to affordable life insurance options. Consider purchasing a 20-year coverage if you are a smoker, as the cost of insurance for smokers rises significantly with age.

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Insurance Rates

Methodology

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 the Author


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Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.


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