Updated: May 22, 2024
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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.
BestLife InsuranceSanta ClaritaBest Life Insurance Companies in Santa Clarita, CA, for 2023
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 For | $250K Coverage | $1,130,000 Coverage (Recommended) |
|---|---|---|
Male | Transamerica | Transamerica |
Female | Transamerica | Transamerica |
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.
| Transamerica | Rates for $250K Coverage$12 | Rates for $926K Coverage (Recommended) $27 |
| Nationwide | Rates for $250K Coverage$15 | Rates for $926K Coverage (Recommended) $30 |
| MassMutual | Rates for $250K Coverage$14 | Rates for $926K Coverage (Recommended) $33 |
| Mutual of Omaha | Rates for $250K Coverage$15 | Rates for $926K Coverage (Recommended) $34 |
| AAA | Rates for $250K Coverage$17 | Rates for $926K Coverage (Recommended) $38 |
| Transamerica | Rates for $250K Coverage$8 | Rates for $926K Coverage (Recommended) $18 |
| Nationwide | Rates for $250K Coverage$11 | Rates for $926K Coverage (Recommended) $19 |
| Mutual of Omaha | Rates for $250K Coverage$11 | Rates for $926K Coverage (Recommended) $20 |
| MassMutual | Rates for $250K Coverage$10 | Rates for $926K Coverage (Recommended) $21 |
| Progressive Life | Rates for $250K Coverage$12 | Rates for $926K Coverage (Recommended) $50 |
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.
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.
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.
| New York Life | Market Share8% |
| Transamerica | Market Share7% |
| Northwestern Mutual | Market Share5% |
| Lincoln Financial | Market Share5% |
| MassMutual | Market Share4% |
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.
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:
You can review other life insurance rates for young people in Santa Clarita in the MoneyGeek table below.
| Transamerica | Monthly Cost$22 |
| Mutual of Omaha | Monthly Cost$24 |
| MassMutual | Monthly Cost$24 |
| AAA | Monthly Cost$27 |
| State Farm | Monthly Cost$29 |
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.
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.
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:
The table below from MoneyGeek contains further details on the top senior life insurance companies in Santa Clarita.
| Transamerica | Monthly Cost$49 |
| MassMutual | Monthly Cost$52 |
| State Farm | Monthly Cost$56 |
| Nationwide | Monthly Cost$56 |
| AAA | Monthly Cost$58 |
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.
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.
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:
See the MoneyGeek infographic below for more details on the Santa Clarita life insurance companies that are most affordable for smokers.
| Transamerica | Monthly Cost$185 |
| Nationwide | Monthly Cost$203 |
| State Farm | Monthly Cost$220 |
| Mutual of Omaha | Monthly Cost$225 |
| MassMutual | Monthly Cost$225 |
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.
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.
Ensure you are getting the best rate for your insurance. Compare quotes from the top insurance companies.
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
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.
