Best Life Insurance Companies in Pembroke Pines, FL

Transamerica is the best company for life insurance in Pembroke Pines for the average adult. MoneyGeek also found that Transamerica is the best option for young adults and smokers, but for seniors, MassMutual is the best life insurance provider.

Pembroke Pines life insurance rates can average as little as $12 per month for a policy with $250K coverage and $23 per month for the recommended state coverage level.

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Advertising & Editorial DisclosureLast Updated: 12/23/2022
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Life insurance provides financial security for your beneficiaries when you pass away. Shopping around can help you find the best policy and rates for your needs. MoneyGeek analyzed life insurance companies to help you find the best life insurance companies in Pembroke Pines, Florida. We also ranked the best providers in the city for smokers, young adults and seniors.

iconBestLife InsurancePembroke Pines
2023

Best Life Insurance Companies in Pembroke Pines, FL, for 2023

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Best Cheap Life Insurance in Pembroke Pines

Life insurance quotes in Pembroke Pines vary depending on your gender and the coverage level you purchase. Transamerica offers the cheapest rates for the default coverage level of $250K at an average of $12 per month for men and $10 per month for women.

For a life insurance policy with the recommended coverage of $736K, Transamerica offers the cheapest rates at an average of $18 per month for women and $23 per month for men.

A policy with $250K coverage may be cheaper, but it might not be enough coverage for most people. The recommended coverage for Florida is $736K, based on the cost of living, average income, average personal debt, average age and other state-specific factors.

Cheapest Life Insurance Companies for Males and Females in Pembroke Pines
  • Cheapest For
    $250K Coverage
    $736K Coverage (Recommended)
  • Male

    Transamerica

    Transamerica

  • Female

    Transamerica

    Transamerica

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Life Insurance Costs in Pembroke Pines for Men and Women

Pembroke Pines' life insurance rates are typically higher than the average rate for Florida, with men paying around 19% more than the state average while women pay roughly 10% more than the state average.

Gender is one of the key factors in the cost of life insurance. The average cost of a policy with $250K coverage in Pembroke Pines is $21 per month for men, while women pay $17 monthly for similar coverage.

The average cost for a policy with the recommended coverage in Florida is also higher for men, at an average cost of $42 per month compared to $34 for women. The recommended coverage level for Florida is based on factors such as per capita income from the U.S. Bureau of Economic Analysis, average mortgage debt, average personal debt and average age.

For a 10-year term policy, average rates for men are $27 per month, while average rates for women are $22 per month.

Average Monthly Life Insurance Rates in Pembroke Pines: Men

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Transamerica
    $12
    $23
  • Nationwide
    $14
    $24
  • MassMutual
    $13
    $25
  • Mutual of Omaha
    $15
    $26
  • AAA
    $16
    $30
  • State Farm
    $22
    $40
  • Prudential
    $36
    $48
  • Progressive Life
    $20
    $69
Average Monthly Life Insurance Rates in Pembroke Pines: Women

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Transamerica
    $10
    $18
  • Nationwide
    $13
    $19
  • Mutual of Omaha
    $14
    $20
  • MassMutual
    $12
    $20
  • AAA
    $13
    $26
  • Prudential
    $24
    $32
  • State Farm
    $20
    $35
  • Progressive Life
    $18
    $54

Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Pembroke Pines using average buyer profile statistics, including the average age of 34, the average weight of 183 pounds for males and 145 pounds for females, and an average coverage need of $736,000.

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LIFE INSURANCE OFTEN COSTS LESS FOR WOMEN

The cost of life insurance is typically higher for men than women because men have a lower life expectancy. Risk factors like a higher incidence of heart disease in men and riskier occupations mean that men often die at a younger age than women. This is why life insurance premiums for men are higher.

Although life insurance is cheaper for women, more men buy life insurance. However, it is important for women to get life insurance since they also play an important role in the financial stability of their families.

Most Popular Life Insurance Companies in Florida

In Florida, Northwestern Mutual, Lincoln Financial and MassMutual are the most popular life insurance companies, with 8%, 6% and 5% of the total life insurance market share, respectively. Overall, the seven most popular life insurance providers in Florida make up 36% of the life insurance market share in the state.

You can look up the most popular companies by market share in the table below.

Most Popular Life Insurance Companies in Florida

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  • Company
    Market Share
  • Northwestern Mutual
    8%
  • Lincoln Financial
    6%
  • Transamerica
    5%
  • MassMutual
    5%
  • Pacific Life
    4%
  • New York Life
    4%
  • John Hancock
    4%
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MONEYGEEK DICTIONARY

Market share represents the percentage of revenue or sales that a life insurance company generates compared to its competitors in the same market. MoneyGeek analyzed the most popular life insurance companies in Florida based on S&P Global’s 2020 market intelligence reports.

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Cheapest Life Insurance for Young People in Pembroke Pines

Life insurance quotes in Pembroke Pines for young adults can range from $17 to $27 per month, on average. If you are a young person, the cheapest companies for life insurance in Pembroke Pines are:

  • Transamerica: $17 per month
  • Mutual of Omaha: $19 per month

You can compare life insurance rates for young adults in the table below.

Best Life Insurance Companies for Young People in Pembroke Pines, FL

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  • Company
    Monthly Cost
  • Transamerica
    $17
  • Mutual of Omaha
    $19
  • MassMutual
    $19
  • AAA
    $22
  • Prudential
    $22
  • State Farm
    $23
  • Nationwide
    $25
  • Progressive Life
    $27

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Pembroke Pines who is 5 feet 10 inches in height and weighs 156 pounds with a 20-year term contract at the average coverage need of $280K. 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

Life insurance is cheaper for people who are 25 years old and younger since they typically have a long life expectancy. Rates tend to increase as you age, so the best way to save on life insurance premiums is to buy a policy at a young age and compare quotes to find the best life insurance companies for young people.

Cheapest Life Insurance for Seniors in Pembroke Pines

In Pembroke Pines, life insurance premiums for seniors can range from an average of $46 to $95 per month. The cheapest life insurance companies in Pembroke Pines for seniors are:

  • MassMutual: $46 per month
  • State Farm: $49 per month

You can use the table below to compare life insurance rates for seniors in Pembroke Pines.

Best Life Insurance Companies for Seniors in Pembroke Pines, FL

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  • Company
    Monthly Cost
  • MassMutual
    $46
  • State Farm
    $49
  • Mutual of Omaha
    $52
  • Nationwide
    $53
  • AAA
    $54
  • Progressive Life
    $82
  • Prudential
    $94
  • Transamerica
    $95

Rates were determined by analyzing quotes for a 60-year-old male non-smoker in Pembroke Pines who is 5 feet 10 inches tall and weighs 183 pounds with a 10-year term contract at the average coverage need of $83K.

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LIFE INSURANCE COSTS MORE FOR SENIORS

Life insurance costs more for seniors because they are viewed as higher risk due to their lower life expectancy.

Our sample policy coverage for seniors is lower than for other groups because seniors are unlikely to have young dependents, so there is less need for life insurance to cover future income. This means that seniors can be sufficiently covered by a policy that has lower coverage limits.

A policy with lower coverage may cover fewer expenses over time but will help to meet final expenses like burial costs and outstanding debts.

Cheapest Life Insurance for Smokers in Pembroke Pines

If you are a smoker in Pembroke Pines, you will pay between $136 and $241 per month for life insurance, on average. The most affordable life insurance companies for smokers in Pembroke Pines are:

  • Transamerica: $136 per month
  • State Farm: $159 per month

You can use the table below to compare the most affordable life insurance rates for smokers.

Best Life Insurance Companies for Smokers in Pembroke Pines, FL

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  • Company
    Monthly Cost
  • Transamerica
    $136
  • State Farm
    $159
  • MassMutual
    $165
  • Mutual of Omaha
    $168
  • Nationwide
    $176
  • Prudential
    $187
  • AAA
    $192
  • Progressive Life
    $241

Rates were determined by analyzing quotes for a 34-year-old male smoker in Pembroke Pines who is 5 feet 10 inches tall and weighs 183 pounds with a 20-year term contract at the average coverage need of $736K.

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LIFE INSURANCE IS VERY EXPENSIVE FOR SMOKERS

Smokers are at a higher risk for various health conditions compared to non-smokers, so they pay more for life insurance. However, you can still find affordable life insurance for smokers by comparing quotes from different providers. Buying a longer 20-year term policy with extended coverage will also be cheaper since rates for smokers tend to increase exponentially 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


expert-profile

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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