Best Life Insurance Companies in Scottsdale, AZ

Our data shows that MassMutual is the overall best life insurance company in Scottsdale, Arizona. It’s also the top option for young adults and senior citizens. However, smokers can save money with Transamerica. These firms provide average life insurance rates as low as around $17 per month for a policy with $250K in coverage or roughly $30 per month for the state-recommended coverage amount.

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Advertising & Editorial DisclosureLast Updated: 12/22/2022
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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.

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2023

Best Life Insurance Companies in Scottsdale, AZ, for 2023

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Best Cheap Life Insurance in Scottsdale

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.

Cheapest Life Insurance Companies for Males and Females in Scottsdale
  • Cheapest For
    $250K Coverage
    $708K Coverage (Recommended)
  • Male

    MassMutual

    Nationwide

  • Female

    MassMutual

    Nationwide

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Life Insurance Costs in Scottsdale for Men and Women

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.

Average Monthly Life Insurance Rates in Scottsdale: Men

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Nationwide
    $18
    $30
  • MassMutual
    $17
    $30
  • Mutual of Omaha
    $18
    $31
  • Transamerica
    $23
    $48
  • AAA
    $25
    $51
  • State Farm
    $31
    $61
  • Prudential
    $45
    $73
  • Progressive Life
    $37
    $79
Average Monthly Life Insurance Rates in Scottsdale: Women

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Nationwide
    $13
    $19
  • Mutual of Omaha
    $14
    $19
  • MassMutual
    $12
    $19
  • Transamerica
    $15
    $31
  • AAA
    $16
    $33
  • State Farm
    $21
    $36
  • Prudential
    $24
    $39
  • Progressive Life
    $23
    $47

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.

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LIFE INSURANCE OFTEN COSTS LESS FOR WOMEN

The National Center for Health Statistics (NCHS) found that women live longer than men do. As a result, they pay less for insurance. Women usually outlive men because men tend to choose risky jobs and skip routine doctor's appointments. As a result of these statistical probabilities, the average price of life insurance for men increases.

Despite the fact that women live longer, studies show that men make up the majority of life insurance policyholders. Whether or not they are the primary breadwinners in their families, women should use insurance to protect the value they provide to their households.

Most Popular Life Insurance Companies in Arizona

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.

Most Popular Life Insurance Companies in Arizona

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  • Company
    Market Share
  • Prudential
    7%
  • Northwestern Mutual
    6%
  • New York Life
    5%
  • Pacific Life
    5%
  • Lincoln Financial
    5%
  • State Farm
    4%
  • John Hancock
    3%
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MONEYGEEK DICTIONARY

A company's market share is the proportion of sales or revenue it brings in compared to other companies in the same industry. MoneyGeek created a list of the most well-known life insurance providers in Scottsdale for this guide using S&P Global's 2020 market intelligence data.

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Cheapest Life Insurance for Young People in Scottsdale

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.

Best Life Insurance Companies for Young People in Scottsdale, AZ

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  • Company
    Monthly Cost
  • MassMutual
    $24
  • AAA
    $25
  • Nationwide
    $28
  • Transamerica
    $31
  • Mutual of Omaha
    $31
  • State Farm
    $32
  • Progressive Life
    $33
  • Prudential
    $68

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.

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LIFE INSURANCE IS CHEAPER FOR YOUNG PEOPLE

Adults under the age of 25 pay less for life insurance. As you get older and are more prone to certain illnesses, your insurance expenses increase. One of the best ways to lower the cost of coverage is to buy life insurance when you are young. The monthly cost will be lower the younger and healthier you are.

Cheapest Life Insurance for Seniors in Scottsdale

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.

Best Life Insurance Companies for Seniors in Scottsdale, AZ

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  • Company
    Monthly Cost
  • MassMutual
    $58
  • Mutual of Omaha
    $66
  • Nationwide
    $67
  • State Farm
    $70
  • AAA
    $88
  • Progressive Life
    $105
  • Transamerica
    $108
  • Prudential
    $121

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.

seniors icon
LIFE INSURANCE COSTS MORE FOR SENIORS

Due to the increased likelihood that their policies will outlive them as they age, seniors pay higher life insurance premiums. However, because their dependents are more likely to be mature adults who can support themselves financially, seniors often don't need as much coverage.

Typically, only costs associated with funeral arrangements, estate taxes and similar expenses are covered by their life insurance policy. As a result, the sample senior insurance coverage offered by MoneyGeek is lower than for other profiles.

Cheapest Life Insurance for Smokers in Scottsdale

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.

Best Life Insurance Companies for Smokers in Scottsdale, AZ

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  • Company
    Monthly Cost
  • Transamerica
    $148
  • MassMutual
    $176
  • State Farm
    $181
  • Nationwide
    $185
  • Mutual of Omaha
    $195
  • Prudential
    $219
  • Progressive Life
    $276
  • AAA
    $325

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.

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LIFE INSURANCE IS VERY EXPENSIVE FOR SMOKERS

Smokers are considered high risk and have higher premiums since smoking can have detrimental long-term health impacts. The good news is that smokers can still get affordable life insurance. MoneyGeek advises purchasing a longer-term coverage (at least 20 years), as smoking amplifies aging-related rate increases.

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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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