Life insurance is designed to financially support your beneficiaries after your death. MoneyGeek collected and analyzed data from different life insurance companies in Portland. Through our research, we found the best companies for young people, seniors and smokers.
Best Life Insurance Companies in Portland, OR, for 2024
Nationwide is the best life insurance provider in Portland, OR. For the state-recommended coverage of $809,000, Nationwide charges $23 per month for men and $18 per month for women, on average.
![Banner image](https://res.cloudinary.com/moneygeek/image/upload/c_scale,q_auto:eco,f_auto,fl_lossy,w_484/v1715118204/life_insurance_image_843366e35e.png)
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Mark Fitzpatrick
Head of P&C Insurance, MoneyGeek
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](https://www.cnbc.com/2020/04/15/cant-keep-up-with-insurance-premiums-heres-what-to-do.html), [NBC News](https://www.nbcnews.com/business/autos/flooded-cars-are-problem-their-owners-future-car-buyers-n1278493) and [Mashable](https://mashable.com/article/tesla-insurance-rates). 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.
![](https://res.cloudinary.com/moneygeek/image/upload/c_scale,q_auto:eco,f_auto,fl_lossy,w_100,b_white/v1654693852/Katherine_Kurtz_headshot_Katherine_Kurtz_fd788e5db8.jpg)
Katherine Kurtz, PhD
Managing Editor
Katherine Kurtz, Ph.D., is the Managing Editor at MoneyGeek, with 15 years of experience in academic and content editing. She holds a doctorate in philosophy from Villanova University, where she also worked as an adjunct professor and the managing editor of *Hypatia*, a peer-reviewed feminist philosophy journal. Kurtz believes in "education as a practice of freedom" (bell hooks) and seeks to empower herself and others by openly sharing financial knowledge and resources.
![](https://res.cloudinary.com/moneygeek/image/upload/c_scale,q_auto:eco,f_auto,fl_lossy,w_100,b_white/v1613177245/Image_from_i_OS_825d26269a.jpg)
Mark Fitzpatrick
Head of P&C Insurance, MoneyGeek
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](https://www.cnbc.com/2020/04/15/cant-keep-up-with-insurance-premiums-heres-what-to-do.html), [NBC News](https://www.nbcnews.com/business/autos/flooded-cars-are-problem-their-owners-future-car-buyers-n1278493) and [Mashable](https://mashable.com/article/tesla-insurance-rates). 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.
![](https://res.cloudinary.com/moneygeek/image/upload/c_scale,q_auto:eco,f_auto,fl_lossy,w_100,b_white/v1654693852/Katherine_Kurtz_headshot_Katherine_Kurtz_fd788e5db8.jpg)
Katherine Kurtz, PhD
Managing Editor
Katherine Kurtz, Ph.D., is the Managing Editor at MoneyGeek, with 15 years of experience in academic and content editing. She holds a doctorate in philosophy from Villanova University, where she also worked as an adjunct professor and the managing editor of *Hypatia*, a peer-reviewed feminist philosophy journal. Kurtz believes in "education as a practice of freedom" (bell hooks) and seeks to empower herself and others by openly sharing financial knowledge and resources.
Updated: May 22, 2024
Advertising & Editorial Disclosure
Best Life Insurance Companies in Portland, OR, for 2023
![Northwestern Mutual](https://res.cloudinary.com/moneygeek/image/upload/c_scale,w_45/v1/MoneyGeek.com/Company%20Logos/northwestern-mutual-logo-small_ptvmkj.png)
![Mutual of Omaha](https://res.cloudinary.com/moneygeek/image/upload/c_scale,w_45/v1/MoneyGeek.com/Company%20Logos/mutual_of_omaha_logo-min_l1pybj.jpg)
Best Cheap Life Insurance in Portland
MassMutual offers the cheapest life insurance for a policy with $250K coverage for men and women at $12 and $10 per month, respectively.
Although a policy with only $250K of coverage costs less, you may need more coverage based on your needs. To get more coverage, you can opt for a policy that includes the state-recommended coverage limit of $809K, which takes into account the cost of living, average income, average personal debt, average age and other factors specific to Oregon.
For this added coverage, men and women can find the cheapest policies from Nationwide for $23 per month and $18 per month, respectively.
Cheapest Life Insurance Companies for Males and Females in Portland
Cheapest For | $250K Coverage | $809K Coverage (Recommended) |
---|---|---|
Male | MassMutual | Nationwide |
Female | MassMutual | Nationwide |
Life Insurance Costs in Portland for Men and Women
Gender significantly impacts the cost of a life insurance policy. In Portland, the cost of life insurance is 10% higher for men and women than the average cost of life insurance in Oregon.
On average, the cost of a policy with $250K of coverage is $20 per month for men and $18 per month for women.
Moreover, the recommended coverage amount in Oregon is based on factors like the per capita income from the U.S. Bureau of Economics, average mortgage debt, average personal debt and average age. The cost of life insurance with this coverage is $44 per month for men and $39 per month for women.
A 10-year term policy for men and women also varies in cost. On average, it costs $28 per month for men and $24 per month for women.
Average Monthly Life Insurance Rates in Portland: Men
Nationwide | Rates for $250K Coverage$13 | Rates for $926K Coverage (Recommended) $23 |
MassMutual | Rates for $250K Coverage$12 | Rates for $926K Coverage (Recommended) $23 |
Mutual of Omaha | Rates for $250K Coverage$13 | Rates for $926K Coverage (Recommended) $25 |
AAA | Rates for $250K Coverage$15 | Rates for $926K Coverage (Recommended) $29 |
State Farm | Rates for $250K Coverage$21 | Rates for $926K Coverage (Recommended) $44 |
Average Monthly Life Insurance Rates in Portland: Women
Nationwide | Rates for $250K Coverage$12 | Rates for $926K Coverage (Recommended) $18 |
MassMutual | Rates for $250K Coverage$10 | Rates for $926K Coverage (Recommended) $18 |
Mutual of Omaha | Rates for $250K Coverage$12 | Rates for $926K Coverage (Recommended) $18 |
Prudential | Rates for $250K Coverage$21 | Rates for $926K Coverage (Recommended) $41 |
State Farm | Rates for $250K Coverage$22 | Rates for $926K Coverage (Recommended) $42 |
Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Portland using average buyer profile statistics, including the average age of 31, the average weight of 186 pounds for males and 148 pounds for females, and an average coverage need of $809,000.
According to research, women outlive men. This can be attributed to a variety of reasons: men are more likely to engage in risky behavior, develop chronic health conditions and work in hazardous jobs. Because of this, insurers view men as high-risk buyers and often charge them more for life insurance.
Despite the added cost, men are more likely to own life insurance than women. As women occupy a larger percentage of the workforce, they should consider purchasing life insurance as a safeguard for their beneficiaries’ future.
Most Popular Life Insurance Companies in Oregon
The most popular life insurance companies in Oregon are Northwestern Mutual, State Farm and New York Life with market shares of 9%, 6% and 5%, respectively.
We also collected data on seven of the most popular companies in Oregon and found that their total market shares comprise 36% of the life insurance industry. We’ve included these companies, alongside their respective market shares, in the table below.
Most Popular Life Insurance Companies in Oregon
Northwestern Mutual | Market Share9% |
State Farm | Market Share6% |
New York Life | Market Share5% |
Lincoln Financial | Market Share5% |
John Hancock | Market Share4% |
Market share is the percentage of sales a company has in its industry. For example, life insurance providers with high market shares sell more policies than their counterparts. MoneyGeek used data from 2020 S&P Global data reports as its basis for the market share of life insurance companies in Oregon.
Compare Life Insurance Rates
Ensure you're getting the best rate for your life insurance. Compare quotes from the top insurance companies.
Cheapest Life Insurance for Young People in Portland
In Portland, life insurance for young people can cost between $17 and $25 per month. The cheapest companies for life insurance in Portland are the following:
- Mutual of Omaha: $17 per month
- MassMutual: $18 per month
To help you find the cheapest life insurance, we gathered data from different insurers in the city. The table below includes the best life insurance companies for young people in Portland.
Best Life Insurance Companies for Young People in Portland, OR
Mutual of Omaha | Monthly Cost$17 |
MassMutual | Monthly Cost$18 |
AAA | Monthly Cost$21 |
Prudential | Monthly Cost$21 |
State Farm | Monthly Cost$21 |
Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Portland who is 5 feet 10 inches in height and weighs 158 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.
Young people can purchase life insurance at a lower cost. Investing in life insurance at a younger age allows you to save more money, especially as premiums increase over time.
Cheapest Life Insurance for Seniors in Portland
The cost of life insurance for seniors in Portland ranges from $42 to $87 per month, depending on the company you choose. The cheapest companies for seniors are the following:
- MassMutual: $42 per month
- Mutual of Omaha: $48 per month
Comparing the cost of the premiums between companies is important to find the best policy for you. The table below shows the cost of life insurance companies in Portland for seniors.
Best Life Insurance Companies for Seniors in Portland, OR
MassMutual | Monthly Cost$42 |
Mutual of Omaha | Monthly Cost$48 |
Nationwide | Monthly Cost$49 |
AAA | Monthly Cost$50 |
State Farm | Monthly Cost$51 |
Rates were determined by analyzing quotes for a 60-year-old male non-smoker in Portland who is 5 feet 10 inches tall and weighs 186 pounds with a 10-year term contract at the average coverage need of $85,000.
Insurance companies typically consider seniors as high-risk buyers because their policies are more likely to outlive them. As a result, they often pay more for life insurance than younger customers. However, seniors can still save money by opting for a policy with lower coverage. Most seniors have beneficiaries that are financially independent, so a high-coverage policy isn’t needed. MoneyGeek set its sample policy coverage to $100K, which is typically sufficient to cover funeral expenses and arrangements.
Cheapest Life Insurance for Smokers in Portland
On average, life insurance in Portland for smokers costs between $150 and $233 per month. The following are the companies that offer the cheapest rates in Portland:
- MassMutual: $150 per month
- State Farm: $152 per month
The table below contains the complete list of companies in Portland that offer life insurance for smokers. Consider comparing the rates of each company to find the best deal for your needs.
Best Life Insurance Companies for Smokers in Portland, OR
MassMutual | Monthly Cost$150 |
State Farm | Monthly Cost$152 |
Nationwide | Monthly Cost$159 |
Mutual of Omaha | Monthly Cost$163 |
AAA | Monthly Cost$175 |
Rates were determined by analyzing quotes for a 31-year-old male smoker in Portland who is 5 feet 10 inches tall and weighs 186 pounds with a 20-year term contract at the average coverage need of $809K.
Insurance companies consider smokers to be high-risk because of the health hazards posed by smoking. Because of this, life insurance for smokers tends to cost more. However, you can still find companies that offer affordable life insurance for smokers. MoneyGeek also recommends a 20-year term policy for smokers, as the cost of insurance increases significantly as you age.
Compare Insurance Rates
Ensure you are getting the best rate for your insurance. Compare quotes from the top insurance companies.
Methodology
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.
About Mark Fitzpatrick
![Mark Fitzpatrick headshot](https://res.cloudinary.com/moneygeek/image/upload/c_scale,q_auto:eco,f_auto,fl_lossy,w_160/v1613177245/Image_from_i_OS_825d26269a.jpg)
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.
sources
- Harvard Health Publishing. "Why Men Often Die Earlier Than Women." Accessed May 26, 2022.
- Life Insurance Marketing and Research Association (LIMRA). "Facts About Life Insurance 2021." Accessed May 26, 2022.
- National Center for Health Statistics. "Provisional Life Expectancy Estimates for January through June, 2020." Accessed May 26, 2022.
- S&P Global. "2020 Annual Report." Accessed May 26, 2022.