Best Life Insurance Companies in Seattle, WA

According to MoneyGeek’s research, Transamerica is the best life insurance provider in Seattle for the average adult. Transamerica also offers the best life insurance policies for seniors, young people and smokers. With this insurer, the average cost of life insurance in Seattle can vary from $12 per month for $250,000 in coverage to $30 per month for the state recommended coverage of $965,000.

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

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2023

Best Life Insurance Companies in Seattle, WA, for 2023

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Best Cheap Life Insurance in Seattle

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.

Cheapest Life Insurance Companies for Males and Females in Seattle
  • Cheapest For
    $250K Coverage
    $965K Coverage (Recommended)
  • Male

    Transamerica

    Transamerica

  • Female

    MassMutual

    Nationwide

Life Insurance Costs in Seattle for Men and Women

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.

Average Monthly Life Insurance Rates in Seattle: Men

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Transamerica
    $12
    $30
  • Nationwide
    $15
    $30
  • MassMutual
    $14
    $31
  • Mutual of Omaha
    $15
    $33
  • AAA
    $17
    $39
  • State Farm
    $24
    $59
  • Prudential
    $37
    $66
  • Progressive Life
    $20
    $88
Average Monthly Life Insurance Rates in Seattle: Women

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Nationwide
    $13
    $22
  • MassMutual
    $12
    $23
  • Mutual of Omaha
    $14
    $24
  • Transamerica
    $15
    $40
  • State Farm
    $25
    $55
  • AAA
    $21
    $61
  • Progressive Life
    $23
    $61
  • Prudential
    $24
    $73

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.

woman icon
LIFE INSURANCE OFTEN COSTS LESS FOR WOMEN

Average life insurance costs tend to vary depending on gender because men and women have different life expectancies. On average women will pay less for life insurance because they typically live longer than men. Studies have found that women live longer on average than men, as they aren't as likely to engage in life-threatening activities.

Despite rates being cheaper for women, research shows that men buy more life insurance than women. Women are valuable contributors to their home’s economic stability and should also consider purchasing life insurance.

Most Popular Life Insurance Companies in Washington

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.

Most Popular Life Insurance Companies in Washington

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  • Company
    Market Share
  • New York Life
    9%
  • Northwestern Mutual
    8%
  • Prudential
    5%
  • Lincoln Financial
    5%
  • John Hancock
    4%
  • Pacific Life
    4%
  • State Farm
    4%
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MONEYGEEK DICTIONARY

Market share is used to compare how much revenue a particular company generates in a specific market compared to other companies in the same market. The more popular a company is the higher its market share will be in a given market.

The market share data used in MoneyGeek’s analysis is from 2020 S&P Global data reports.

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Cheapest Life Insurance for Young People in Seattle

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.

Best Life Insurance Companies for Young People in Seattle, WA

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  • Company
    Monthly Cost
  • Transamerica
    $21
  • Mutual of Omaha
    $23
  • MassMutual
    $23
  • AAA
    $27
  • State Farm
    $28
  • Prudential
    $29
  • Nationwide
    $30
  • Progressive Life
    $34

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.

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LIFE INSURANCE IS CHEAPER FOR YOUNG PEOPLE

Buying life insurance in Seattle at a young age is one of the best strategies for saving money on your policy. Young people tend to pay less for life insurance because they have a higher life expectancy. However rates increase as you age, so you will get the best life insurance rates if you buy early.

Cheapest Life Insurance for Seniors in Seattle

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.

Best Life Insurance Companies for Seniors in Seattle, WA

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  • Company
    Monthly Cost
  • Transamerica
    $47
  • MassMutual
    $50
  • State Farm
    $54
  • Nationwide
    $56
  • Mutual of Omaha
    $56
  • AAA
    $58
  • Progressive Life
    $88
  • Prudential
    $101

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.

seniors icon
LIFE INSURANCE COSTS MORE FOR SENIORS

Life insurance rates for seniors tend to be higher because they have a lower life expectancy, meaning that the life insurance policy is likely to outlive them. Because of this increased risk, insurers charge higher premiums.

Since most seniors do not have young dependents who need to be guaranteed future income, lower coverage amounts, like $100,000 coverage used in our sample policy, are usually sufficient. While lower coverage may cover fewer expenses, it’s usually sufficient for burial or funeral expenses.

Cheapest Life Insurance for Smokers in Seattle

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.

Best Life Insurance Companies for Smokers in Seattle, WA

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  • Company
    Monthly Cost
  • Transamerica
    $166
  • MassMutual
    $197
  • State Farm
    $203
  • Nationwide
    $207
  • Mutual of Omaha
    $218
  • Prudential
    $246
  • Progressive Life
    $316
  • AAA
    $365

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.

girlThinking icon
LIFE INSURANCE IS VERY EXPENSIVE FOR SMOKERS

Smokers are more susceptible to health conditions which makes them a high-risk category for insurers. As such, life insurance rates for smokers tend to be high. If you are looking for affordable life insurance for smokers, you can compare rates from different providers to find the cheapest options.

Alternatively, getting a policy with extended coverage like a 20-year term will also help you save on costs since premiums typically increase as you age.

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Insurance Rates

Methodology

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.

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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