Best Life Insurance Companies in Port St. Lucie, FL, for 2024


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ByMark Fitzpatrick
Reviewed byKatherine Kurtz
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ByMark Fitzpatrick
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Reviewed byKatherine Kurtz
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Updated: January 23, 2024

Advertising & Editorial Disclosure

Life insurance will take care of your beneficiaries when you pass away. Through your policy, your family members won’t have to worry about paying for the funeral or any other final expenses.

MoneyGeek gathered information about life insurance in Port St. Lucie to look for the best and cheapest companies in the city. This guide will help you pick the best company that caters to your needs.

MoneyGeek Logo IconBestLife InsurancePort St. Lucie
2024

Best Life Insurance Companies in Port St. Lucie, FL, for 2023

Best Cheap Life Insurance in Port St. Lucie

The cheapest life insurance in Port St. Lucie for men and women is from Transamerica, with monthly rates averaging $10 for men and $8 for women. For an increased $736K coverage level, Transamerica’s average rates are $21 for men and $16 for women.

A $250K coverage may be cheaper but may not provide enough support. Based on state-specific factors, the recommended coverage amount for Florida is $736K.

Cheapest Life Insurance Companies for Males and Females in Port St. Lucie
Cheapest For
$250K Coverage
$736K Coverage (Recommended)

Male

Transamerica

Transamerica

Female

Transamerica

Transamerica

Life Insurance Costs in Port St. Lucie for Men and Women

The prices of life insurance are different between men and women. Compared to the average cost in Florida, life insurance in Port St. Lucie is 8% more expensive for men but 6% cheaper for women. Therefore, it’s important to note that gender is a major determining factor when it comes to the price of your policy.

A policy with the standard coverage of $250K costs roughly $19 per month for men and $15 for women.

A policy with $736K coverage in Florida costs $39 per month for men and $29 for women, on average. These are based on the per capita income from the U.S. Bureau of Economic Analysis and other state-specific factors.

Regardless of the coverage, a 10-year term costs an average of $25 per month for men and $18 per month for women.

Average Monthly Life Insurance Rates in Port St. Lucie: Men
TransamericaRates for $250K Coverage$10Rates for $926K Coverage (Recommended) $21
NationwideRates for $250K Coverage$13Rates for $926K Coverage (Recommended) $22
MassMutualRates for $250K Coverage$12Rates for $926K Coverage (Recommended) $22
Mutual of OmahaRates for $250K Coverage$13Rates for $926K Coverage (Recommended) $24
AAARates for $250K Coverage$15Rates for $926K Coverage (Recommended) $27
Average Monthly Life Insurance Rates in Port St. Lucie: Women
TransamericaRates for $250K Coverage$8Rates for $926K Coverage (Recommended) $16
NationwideRates for $250K Coverage$11Rates for $926K Coverage (Recommended) $16
Mutual of OmahaRates for $250K Coverage$12Rates for $926K Coverage (Recommended) $17
MassMutualRates for $250K Coverage$10Rates for $926K Coverage (Recommended) $17
AAARates for $250K Coverage$11Rates for $926K Coverage (Recommended) $22

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

Life insurance is more expensive for men because they have a shorter lifespan than women. This is often due to reasons that have underlying social influences. For instance, more men commit suicide than women.

Despite the cheaper rates, fewer women purchase life insurance — therefore creating the life insurance gender gap. Nevertheless, more women should have a life insurance policy as they are often significant contributors to their households and need life insurance just as much as men.

Most Popular Life Insurance Companies in Florida

MoneyGeek gathered information about the seven most popular life insurance companies in Florida. The top three life insurance companies in this state are Northwestern Mutual, Lincoln Financial and MassMutual, with market shares of 8%, 6% and 5%, respectively.

Overall, the total market share of all seven companies is roughly 37%. The table below enumerates the leading companies in Florida with their corresponding market shares to give you an idea of their competitiveness.

Most Popular Life Insurance Companies in Florida
Northwestern MutualMarket Share8%
Lincoln FinancialMarket Share6%
MassMutualMarket Share5%
TransamericaMarket Share5%
John HancockMarket Share4%
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MONEYGEEK DICTIONARY

A company’s market share depends on the number of total sales they have made within the industry. It is computed using the result of dividing the company’s sales by the industry’s total sales. It’s a good indicator of a company’s competitiveness and performance.

To get the market shares of the companies, MoneyGeek used data from the 2020 S&P Global reports on the companies’ total premiums.

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Cheapest Life Insurance for Young People in Port St. Lucie

Life insurance in Port St. Lucie for young people can cost from an average of $15 to $25 per month. If you’re young and looking for the cheapest life insurance in the city, consider checking out the following companies:

  • Transamerica: $15 per month
  • Mutual of Omaha: $17 per month

To help young people compare the cost of life insurance in the city, MoneyGeek has provided a complete list of companies in Port St. Lucie.

Best Life Insurance Companies for Young People in Port St. Lucie, FL
TransamericaMonthly Cost$15
Mutual of OmahaMonthly Cost$17
MassMutualMonthly Cost$17
AAAMonthly Cost$20
PrudentialMonthly Cost$20

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Port St. Lucie who is 5 feet 10 inches in height and weighs 156 pounds with a 20-year term contract at the average coverage need of $280,000. 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

Life insurance is less expensive if you get it at a young age, preferably when you’re 25 years old or younger. However, the cost of your premium increases as you grow older.

It’s better to buy life insurance while you’re young since it helps you save more money. The later in life you wait to get a policy, the more it will cost you in premiums.

Cheapest Life Insurance for Seniors in Port St. Lucie

Seniors in Port St. Lucie can purchase life insurance at an average of $42 to $86, depending on their insurance company. The least expensive life insurance companies in Port St. Lucie for seniors are the following:

  • MassMutual: $42 per month
  • State Farm: $45 per month

The table below shows a list of rates for life insurance for seniors in Port St. Lucie.

Best Life Insurance Companies for Seniors in Port St. Lucie, FL
MassMutualMonthly Cost$42
State FarmMonthly Cost$45
Mutual of OmahaMonthly Cost$47
NationwideMonthly Cost$48
AAAMonthly Cost$49

Rates were determined by analyzing quotes for a 60-year-old male non-smoker in Port St. Lucie who is 5 feet 10 inches tall and weighs 183 pounds with a 10-year term contract at the average coverage need of $83,000.

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LIFE INSURANCE COSTS MORE FOR SENIORS

Life insurance for seniors is expected to survive the policyholder. As a result, seniors pay more for life insurance because insurers see them as high-risk individuals.

Many seniors can have less coverage for their policies because their children are no longer dependent on them for finances. Because their children are more likely to have their own careers, a senior’s policy has less income to replace. Instead, their policy mainly seeks to cover funeral or burial expenses and other necessary costs.

Because of this, MoneyGeek’s sample profile for seniors has a smaller coverage amount compared to our other sample profiles.

Cheapest Life Insurance for Smokers in Port St. Lucie

In Port St. Lucie, the rates of life insurance for smokers range from an average of $124 to $219 per month. To get the cheapest policies, consider purchasing life insurance from the following companies:

  • Transamerica: $124 per month
  • State Farm: $144 per month

MoneyGeek compiled a list of companies and their rates for life insurance for smokers in this city. You can refer to this table to find the best company that fits your budget.

Best Life Insurance Companies for Smokers in Port St. Lucie, FL
TransamericaMonthly Cost$124
State FarmMonthly Cost$144
MassMutualMonthly Cost$150
Mutual of OmahaMonthly Cost$153
NationwideMonthly Cost$160

Rates were determined by analyzing quotes for a 34-year-old male smoker in Port St. Lucie who is 5 feet 10 inches tall and weighs 183 pounds with a 20-year term contract at the average coverage need of $736,000.

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LIFE INSURANCE IS VERY EXPENSIVE FOR SMOKERS

Smoking causes a wide array of diseases that can compromise the health and lives of smokers. As a result, insurers consider smokers as high-risk individuals, making the cost of their life insurance more expensive than a regular policy.

The recommended life insurance for smokers is a policy with a 20-year term. This policy gives them extended coverage and helps avoid the significant increase in the cost of life insurance as the policyholder grows older.

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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 Mark Fitzpatrick


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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.


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