Best Life Insurance Companies in Santa Clarita, CA

In Santa Clarita, California, a $250K life insurance policy can be as little as $12 per month, while you could pay $27 per month for the level of coverage recommended in the state. Based on MoneyGeek’s analysis, Transamerica is the best life insurance provider for the typical adult in Santa Clarita. It is also the best option for smokers, seniors and young people in Santa Clarita.

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Advertising & Editorial DisclosureLast Updated: 12/22/2022
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Depending on the consumer's needs and expectations, there may be a variety of reasons to buy life insurance. It provides financial stability in addition to aiding with debt payments, living costs and medical expenses.

You can discover Santa Clarita's best life insurance company by shopping about and comparing quotes. Find the top life insurance companies in Santa Clarita by using MoneyGeek's analysis of average life insurance premiums based on your age, gender and smoking history.

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2023

Best Life Insurance Companies in Santa Clarita, CA, for 2023

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Best Cheap Life Insurance in Santa Clarita

In Santa Clarita, Transamerica offers $250K in coverage with the lowest average monthly premiums, including $12 for men and $8 for women. While a policy with $250K in coverage could be less expensive, it might not be enough for your beneficiaries.

The recommended amount for life insurance in California is $1,130,000, which is based on state-specific data.

For state-recommended coverage, Transamerica offers life insurance in Santa Clarita at the lowest rate, with monthly premiums averaging $27 for men and $18 for women.

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

    Transamerica

    Transamerica

  • Female

    Transamerica

    Transamerica

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Life Insurance Costs in Santa Clarita for Men and Women

The price of life insurance in Santa Clarita varies by gender. For instance, men pay 28% more than the state average, while women pay 4% more.

Men in Santa Clarita pay an average of $22 per month for $250K in coverage, while women pay $15.

These rates vary if you use California's recommended coverage level, which is based on per capita income from the U.S. Bureau of Economic Analysis, age, typical mortgage debt and personal debt.

Based on the recommended $1,130,000 in coverage, the average monthly insurance cost in California is $55 for men and $47 for women.

Meanwhile, regardless of the level of coverage, the average monthly cost of 10-year term insurance is $32 for men and $27 for women.

Average Monthly Life Insurance Rates in Santa Clarita: Men

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Transamerica
    $12
    $27
  • Nationwide
    $15
    $30
  • MassMutual
    $14
    $33
  • Mutual of Omaha
    $15
    $34
  • AAA
    $17
    $38
  • State Farm
    $22
    $50
  • Prudential
    $36
    $68
  • Progressive Life
    $21
    $79
Average Monthly Life Insurance Rates in Santa Clarita: Women

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Transamerica
    $8
    $18
  • Nationwide
    $11
    $19
  • Mutual of Omaha
    $11
    $20
  • MassMutual
    $10
    $21
  • Progressive Life
    $12
    $50
  • AAA
    $17
    $51
  • State Farm
    $20
    $61
  • Prudential
    $20
    $75

Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Santa Clarita using average buyer profile statistics, including average age of 30, 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 has a big impact on Santa Clarita’s life insurance premiums. Because women typically outlive men, costs are reduced. Meanwhile, males tend to work in riskier environments and participate in hazardous activities, which is why insurers charge them higher premiums.

In addition, men are more likely than women to buy life insurance. But no matter who is the primary breadwinner in the family, every woman should think about purchasing life insurance to protect her income and the value she brings to her family in response to unanticipated events.

Most Popular Life Insurance Companies in California

As per their average market shares, New York Life (8%), Transamerica (7%) and Northwestern Mutual (5%) are the three leading providers of life insurance in California.

The MoneyGeek graph below represents the major life insurance providers in California, along with their relative market shares. The top seven businesses in the state control around 39% of the market as a whole.

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 percentage of revenue that a company generates in comparison to its competitors in the industry. It is frequently used to assess how powerful a business is in the marketplace.

The data used by MoneyGeek to calculate market share is drawn from the total premiums paid by each business mentioned in the S&P Global 2020 state reports.

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Cheapest Life Insurance for Young People in Santa Clarita

Younger Santa Clarita residents may pay monthly rates for life insurance that vary from $22 to $34. The two cheapest life insurance companies in Santa Clarita for the average young person are:

  • Transamerica: $22 monthly
  • Mutual of Omaha: $24 monthly

You can review other life insurance rates for young people in Santa Clarita in the MoneyGeek table below.

Best Life Insurance Companies for Young People in Santa Clarita, CA

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  • Company
    Monthly Cost
  • Transamerica
    $22
  • Mutual of Omaha
    $24
  • MassMutual
    $24
  • AAA
    $27
  • State Farm
    $29
  • Nationwide
    $30
  • Prudential
    $30
  • Progressive Life
    $34

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Santa Clarita who is 5 feet 10 inches and 152 pounds that purchases 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

For those under 25, the cost of Santa Clarita life insurance is cheaper. Your insurance costs will increase as you get older and you are more susceptible to get specific conditions. When you are young, purchasing life insurance can help you secure the most affordable rates since costs increase as you age.

Cheapest Life Insurance for Seniors in Santa Clarita

In Santa Clarita, the typical range of monthly rates for senior life insurance is $49 to $111. On average, the city's top two life insurance companies that offer seniors affordable rates are:

  • Transamerica: $49 monthly
  • MassMutual: $52 monthly

The table below from MoneyGeek contains further details on the top senior life insurance companies in Santa Clarita.

Best Life Insurance Companies for Seniors in Santa Clarita, CA

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  • Company
    Monthly Cost
  • Transamerica
    $49
  • MassMutual
    $52
  • State Farm
    $56
  • Nationwide
    $56
  • AAA
    $58
  • Mutual of Omaha
    $59
  • Progressive Life
    $88
  • Prudential
    $111

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

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LIFE INSURANCE COSTS MORE FOR SENIORS

Santa Clarita life insurance premiums for seniors are higher since it's more likely that your coverage will outlive you as you age. Seniors frequently do not require as much insurance because their beneficiaries are more likely to be financially independent, mature adults.

Life insurance can help seniors cover expenses like burial costs, debts and taxes. Because of this, MoneyGeek's sample of senior insurance coverage is more limited than the coverage selected for other profiles.

Cheapest Life Insurance for Smokers in Santa Clarita

Santa Clarita residents who smoke can anticipate monthly life insurance costs ranging from $185 to $277. On average, the cheapest life insurance rates in Santa Clarita are offered by the following insurers:

  • Transamerica: $185 monthly
  • Nationwide: $203 monthly

See the MoneyGeek infographic below for more details on the Santa Clarita life insurance companies that are most affordable for smokers.

Best Life Insurance Companies for Smokers in Santa Clarita, CA

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  • Company
    Monthly Cost
  • Transamerica
    $185
  • Nationwide
    $203
  • State Farm
    $220
  • Mutual of Omaha
    $225
  • MassMutual
    $225
  • AAA
    $237
  • Prudential
    $258
  • Progressive Life
    $277

Rates were determined by analyzing quotes for a 30-year-old male smoker in Santa Clarita 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 as you age.

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LIFE INSURANCE IS VERY EXPENSIVE FOR SMOKERS

Smokers are subject to increased premiums from insurers that perceive them as high-risk because of the long-term damaging effects of smoking on one's health. This is why smokers pay higher life insurance premiums on average than non-smokers do. Still, smokers are able to purchase life insurance. MoneyGeek advises buying insurance for a longer length of time (20 years) since smoking raises your premiums as you age.

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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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