Best Life Insurance Companies in Seattle, WA, for 2023

Life insurance provides financial support to your dependents if you pass away. MoneyGeek analyzed life insurance providers in Seattle to help you find the best rates and coverage for your needs. We highlighted the best life insurance companies in Seattle for young people, seniors and those who smoke. Our analysis also includes the most popular life insurance companies.

In Seattle, Transamerica offers the cheapest life insurance for men at $12 per month for $250,000 coverage. Meanwhile, MassMutual offers the cheapest $250,000 coverage policies for women at $12 per month.

Not every person will be sufficiently covered by $250,000. The recommended coverage level for Seattle is $965,000 based on state-specific factors like the average income in Seattle, average personal debt and the cost of living in the city.

For $965,000 coverage, the cheapest life insurance company in Seattle for men is Transamerica at $30 per month while Nationwide is the cheapest for women at $22 per month.

Seattle life insurance rates are typically higher than Washington’s state average; insurance rates for men and women in Seattle are more than 27% and 26% than in other parts of the state.

You can use the infographic below to compare average life insurance rates for men and women for $250,000 coverage.

Women typically pay less than men for life insurance in Seattle. On average, men pay $22 per month while women pay $20 per month for a policy with $250,000 of coverage.

This also holds true for policies with higher coverage limits. If you purchase the state-recommended coverage of $965,000, your policy will cost $56 per month if you are a man as opposed to $54 per month if you are a woman.

Buying a 10-year term policy in Seattle will cost an average of $33 per month if you are a man and $32 per month if you are a woman.

Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Seattle using average buyer profile statistics, including the average age of 30, the average weight of 183 pounds for males and 145 pounds for females, and an average coverage need of $965,000.

In Washington, the life insurance companies with the highest market share are New York Life, Northwestern Mutual and Prudential Financial with market shares of 9%, 8% and 5%, respectively.

The seven most popular life insurance companies in Washington constitute 39% of the life insurance market share in the state.

You can use the table below to look up life insurance companies in Washington by market share.

The cost of life insurance for young people in Seattle ranges from approximately $21 to $34 per month. The cheapest life insurance companies for young people in Seattle are:

• Transamerica: $21 per month
• Mutual of Omaha: $23 per month

You can look up average costs of life insurance for young people by company in the table below.

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Seattle who is 5 feet 10 inches tall and weighs 156 pounds with a 20-year term contract at the average coverage need of $340,000. We chose a 20-year term to provide a longer coverage period for a younger buyer.

Life insurance rates for seniors in Seattle range from $47 to $101 per month. The following companies offer the cheapest life insurance companies in Seattle for senior drivers:

• Transamerica: $47 per month
• MassMutual: $50 per month

You can use the table below to compare average life insurance rates in Seattle for seniors by company.

Rates were determined by analyzing quotes for a 60-year-old male non-smoker in Seattle who is 5 feet 10 inches tall and weighs 183 pounds with a 10-year term contract at the average coverage need of $102,000.

Smokers in Seattle pay between $166 to $365 per month for life insurance. The most affordable life insurance companies for smokers in Seattle are:

• Transamerica: $166 per year
• MassMutual: $197 per year

You can compare life insurance rates for seniors by provider in the table below.

Rates were determined by analyzing quotes for a 30-year-old male smoker in Seattle who is 5 feet 10 inches tall and weighs 183 pounds with a 20-year term contract at the average coverage need of $965,000.

MoneyGeek determined the recommended life insurance coverage by factoring in per capita income from the U.S. Bureau of Economics, 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.