Best Life Insurance Companies in San Bernardino, CA

According to MoneyGeek’s analysis, Transamerica is the top provider of life insurance in San Bernardino, California, for the average adult. The insurer also offers the best life insurance to smokers, seniors and young people in the city.

Life insurance in San Bernardino can cost as low as $8 for a $250K policy or $17 for a policy with the state’s recommended coverage amount.

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Advertising & Editorial DisclosureLast Updated: 12/22/2022
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Aside from providing financial stability to your beneficiaries, life insurance can help your loved ones repay debts and fund funeral arrangements. To find the best life insurance company in San Bernardino for you, it’s important to compare quotes from different providers.

MoneyGeek's review, which evaluated the average cost of life insurance based on age, gender and smoking history, can help you start comparing life insurance quotes in San Bernardino.

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2023

Best Life Insurance Companies in San Bernardino, CA, for 2023

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Best Cheap Life Insurance in San Bernardino

Your life insurance premium is determined based on your gender and preferred coverage amount. For a policy with a $250K coverage limit, Transamerica offers the cheapest rates to both men and women at $8 and $6, respectively.

While a policy with a $250K coverage limit is less expensive, it may not provide enough coverage for your loved ones. To ensure your beneficiaries are fully covered, you may opt for the state’s higher recommended coverage amount of $1,130,000. This coverage amount was calculated using state-specific factors like the average cost of living, income, personal debt and age.

For policies with California’s recommended coverage amount of $1,130,000, Transamerica is the best provider of life insurance in San Bernardino. Men and women can get the cheapest rates from this lender for $17 and $12, respectively.

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

    Transamerica

    Transamerica

  • Female

    Transamerica

    Transamerica

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Life Insurance Costs in San Bernardino for Men and Women

Generally, the cost of life insurance varies between men and women. In San Bernardino, men, for example, pay 17% less than the state average, while women pay 30% less.

For a policy with a $250K coverage limit, men and women in San Bernardino pay an average of $14 per month and $10 per month, respectively. However, if you purchase California's recommended coverage level, these rates drastically change.

Buyers who opt for the higher state-recommended coverage amount of $1,130,000 will pay more for insurance; on average, men in San Bernardino pay $36 per month, while women pay $32 per month. The recommended coverage level is determined by factors including age, typical mortgage debt, personal debt and per capita income from the U.S. Bureau of Economic Analysis.

Meanwhile, a 10-year term insurance policy costs an average of $21 per month for men and $18 per month for women, regardless of the amount of coverage.

Average Monthly Life Insurance Rates in San Bernardino: Men

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Transamerica
    $8
    $17
  • Nationwide
    $10
    $19
  • MassMutual
    $9
    $22
  • Mutual of Omaha
    $10
    $22
  • AAA
    $11
    $25
  • State Farm
    $14
    $33
  • Prudential
    $24
    $44
  • Progressive Life
    $13
    $52
Average Monthly Life Insurance Rates in San Bernardino: Women

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Transamerica
    $6
    $12
  • Nationwide
    $7
    $12
  • Mutual of Omaha
    $7
    $14
  • MassMutual
    $7
    $14
  • Progressive Life
    $8
    $33
  • AAA
    $12
    $34
  • State Farm
    $14
    $41
  • Prudential
    $13
    $50

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

Gender significantly impacts the cost of life insurance in San Bernardino. Women pay less for life insurance because they live longer than men. Typically, women have a longer lifespan than men because they have richer social lives, work in safer occupations and are less prone to heart disease.

Despite this, men are more likely to purchase life insurance than women. For a lower cost than men, women can purchase life insurance to ensure the future well-being of their dependents.

Most Popular Life Insurance Companies in California

The three leading life insurance companies in California are New York Life, Transamerica and Northwestern Mutual, with market shares of 8%, 7% and 5%, respectively.

The table below includes the seven most popular life insurance companies in California that comprise approximately 39% of the market share 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

Market share is the proportion of sales that a company brings in compared to competitors in the same industry. A company with a high market share has sold more policies than its competitors in the same industry.

MoneyGeek used the state’s total written premiums included in the 2020 S&P Global data reports to analyze each company’s market share.

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Cheapest Life Insurance for Young People in San Bernardino

Life insurance premiums for young people in San Bernardino range between $14 and $22 per month. The two most affordable life insurance providers in San Bernardino for young individuals, on average, are:

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

The MoneyGeek table below includes rates from additional providers for young individuals in San Bernardino.

Best Life Insurance Companies for Young People in San Bernardino, CA

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  • Company
    Monthly Cost
  • Transamerica
    $14
  • Mutual of Omaha
    $16
  • MassMutual
    $16
  • AAA
    $17
  • State Farm
    $19
  • Nationwide
    $19
  • Prudential
    $20
  • Progressive Life
    $22

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in San Bernardino who is 5 feet 10 inches and 152 pounds that purchases a 20-year term contract at the average coverage need of $360K. 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 in San Bernardino is often less expensive for those under the age of 25. As you get older and are more prone to age-related health conditions, the cost of your insurance premium will increase. To save money, MoneyGeek recommends buying life insurance when you're young.

Cheapest Life Insurance for Seniors in San Bernardino

On average, seniors in San Bernardino pay between $32 and $72 per month for life insurance. The following two companies offer the cheapest rates for seniors in San Bernardino:

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

More information about San Bernardino's top life insurance providers for seniors can be found in the table below.

Best Life Insurance Companies for Seniors in San Bernardino, CA

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  • Company
    Monthly Cost
  • Transamerica
    $32
  • MassMutual
    $34
  • State Farm
    $37
  • Nationwide
    $37
  • AAA
    $38
  • Mutual of Omaha
    $38
  • Progressive Life
    $57
  • Prudential
    $72

Rates were determined by analyzing quotes for a 60-year-old male non-smoker in San Bernardino who is 5 feet 10 inches and 179 pounds that purchases a 10-year term contract at the average coverage need of $107K.

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LIFE INSURANCE COSTS MORE FOR SENIORS

Life insurance in San Bernardino costs more for seniors as their policies are expected to outlive them. However, since their beneficiaries are more likely to be financially independent, seniors typically do not need as much coverage. MoneyGeek’s lower sample coverage amount of $107K for seniors is typically enough to cover burial costs, inheritance taxes and other associated fees.

Cheapest Life Insurance for Smokers in San Bernardino

Smokers in San Bernardino should expect to pay a monthly life insurance premium between $121 and $180. The following life insurance companies in San Bernardino provide the cheapest available rates:

  • Transamerica: $121 per month
  • Nationwide: $132 per month

For additional information about San Bernardino life insurance providers that offer the most affordable policies for smokers, see the MoneyGeek table below.

Best Life Insurance Companies for Smokers in San Bernardino, CA

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  • Company
    Monthly Cost
  • Transamerica
    $121
  • Nationwide
    $132
  • State Farm
    $143
  • Mutual of Omaha
    $147
  • MassMutual
    $147
  • AAA
    $154
  • Prudential
    $168
  • Progressive Life
    $180

Rates were determined by analyzing quotes for a 30-year-old male smoker in San Bernardino who is 5 feet 10 inches and 179 pounds that purchases a 20-year term contract at the average coverage need of $1,130,000. If you are a smoker, we suggest buying a longer-term (20-year) policy to provide longer coverage as rates for smokers increase dramatically as you age.

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LIFE INSURANCE IS VERY EXPENSIVE FOR SMOKERS

Life insurance costs more for smokers because insurers view them as high-risk individuals, as they’re more susceptible to life-threatening health conditions. Smokers can still find affordable life insurance by shopping around and comparing quotes. As a smoker, your insurance rates will exponentially increase as you age. To avoid paying a costly insurance premium, MoneyGeek recommends purchasing insurance for a longer period of time — at least 20 years.

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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 the Author


Mark Fitzpatrick headshot

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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