Best Life Insurance Companies in Scottsdale, AZ, for 2023

Having life insurance can help support your beneficiaries with monetary assistance after your passing. There are different options to choose from when shopping for health insurance, and a careful comparison of prices can help you land better deals.

This MoneyGeek guide aims to help you find the best life insurance companies in Scottsdale, Arizona. It takes a detailed look at their offerings for different buyer profiles.

In Scottsdale, MassMutual offers the most affordable $250K life insurance coverage, with monthly premiums averaging $17 for men and $12 for women.

While it’s less expensive, a policy with a $250K coverage maximum might not be sufficient. Based on state-specific factors, the average recommended amount for a life insurance policy is around $708K in Arizona.

The cheapest insurance for this coverage level in Scottsdale is offered by Nationwide, costing $30 and $19 per month for males and females, respectively.

Depending on your gender, life insurance costs differ. For instance, Scottsdale's female residents spend around 26% more than the state's average, while Scottsdale's male residents pay roughly 52% more.

Scottsdale males pay $30 per month on average for $250K in coverage, compared to $19 per month for women.

If you purchase the state-recommended level of coverage, based on per capita income from the U.S. Bureau of Economics, average personal debt, average mortgage debt and average age, these rates drastically alter.

The average monthly cost of insurance using Arizona's suggested coverage amount of $708K is $36 for women and $60 for males.

Additionally, males pay an average of $39 per month for 10-year term coverage, compared to $24 for women. This is the case regardless of the coverage limits.

Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Scottsdale using average buyer profile statistics, including the average age of 30, the average weight of 197 pounds for males and 156 pounds for females, and an average coverage need of $708,000.

The most well-known life insurance companies in Arizona, on average, are Prudential Financial Inc. (7%), Northwestern Mutual (6%) and Lincoln Financial (5%).

The sum of the market shares of the top seven life insurance companies in Arizona is around 35%. The top seven insurers in the state are shown in the table below.

For younger people in Scottsdale, the typical monthly life insurance premium can be between $24 and $68. On average, the two insurers that are most reasonably priced for young individuals in the city are:

• MassMutual: $24 per month
• AAA: $25 per month

View other Scottsdale life insurance rates for young individuals in the table below.

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Scottsdale who is 5 feet 10 inches, 168 pounds and purchases a 20-year term contract at the average coverage need of $240,000. We chose a 20-year term to provide a longer coverage period for a younger buyer.

In Scottsdale, the average cost of life insurance per month for seniors varies greatly, ranging from $58 to $121. On average, the following companies are the city's most affordable for seniors:

• MassMutual: $58 per month
• Mutual of Omaha: $66 per month

The table below lists more life insurance companies in Scottsdale that offer affordable rates for older residents.

Rates were determined by analyzing quotes for a 60-year-old male non-smoker in Scottsdale who is 5 feet 10 inches, 197 pounds and purchases a 10-year term contract at the average coverage need of $73,000.

Scottsdale residents may pay as little as $148 per month for life insurance or as much as $325 per month for smokers. According to our data, the city's most affordable insurers for smokers are, on average:

• Transamerica: $148 per month
• MassMutual: $176 per month

A complete list of the city's insurance providers that offer smokers lower prices may be seen in the table below.

Rates were determined by analyzing quotes for a 30-year-old male smoker in Scottsdale who is 5 feet 10 inches and 197 pounds that purchases a 20-year term contract at the average coverage need of $708,000. 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.

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.