Best Life Insurance Companies in St. Louis, MO

Life insurance provides your beneficiaries with financial support when you pass away. MoneyGeek reviewed average rates for life insurance companies in St. Louis, Missouri, across different buyer profiles and insurance providers, to help you find the best insurer for your needs.

For a policy with a coverage amount of $250K, MassMutual offers the cheapest life insurance in St. Louis for male buyers at $10 per month, while Nationwide has the best rates for female buyers at $9 per month.

A $250K coverage limit costs less but offers fewer benefits for your loved ones after you pass away. The higher state-recommended coverage limit of $625K, which accounts for average cost of living, age, income and personal debt, would provide more coverage for your dependents.

The cheapest insurer for Missouri’s recommended coverage limit of $625K for men is Nationwide, at $16 per month, while Mutual of Omaha is the cheapest for women, at $14 per month.

The average cost of life insurance varies by gender. According to MoneyGeek’s research, the cost of a $250K-coverage life insurance policy for both men and women is less than 1% higher in St. Louis than the average cost of life insurance in the state of Missouri.

MoneyGeek determined average life insurance rates in St. Louis for male and female buyers based on the coverage level and duration of the policy. We found that men pay an average of $19 per month for $250K of coverage, while women only pay $17 per month.

For the state-recommended coverage limit of $625K, average rates increase to $36 per month for male buyers and $32 per month for women.

The average cost of premiums also varies significantly depending on the duration of coverage. For a 10-year term policy, regardless of the coverage amount, the average monthly rates for men and women are $24 and $21, respectively.

Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in St. Louis using average buyer profile statistics, including the average age of 31, the average weight of 200 pounds for males and 159 pounds for females, and an average coverage need of $625,000.

According to MoneyGeek’s findings, Northwestern Mutual, State Farm and Lincoln Financial are the most popular insurance companies in Missouri, with respective market shares of 11%, 6% and 5%.

The seven best insurance companies in St. Louis, Missouri, comprise 37% of the market segment share in the state. These companies are listed, alongside their market shares, in the table below.

In St. Louis, young people pay between $13 and $22 per month for life insurance coverage. According to MoneyGeek, the following companies offer the cheapest life insurance in St. Louis for young buyers:

• Transamerica: $13 per month
• Mutual of Omaha: $15 per month

A complete list of the most affordable life insurance policy providers for young people in the city is available in the table below.

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Missouri who is 5 feet 10 inches tall and weighs 170 pounds with a 20-year term contract at the average coverage need of $260K. We chose a 20-year term to provide a longer coverage period for a younger buyer.

Older buyers in St. Louis can purchase life insurance from $39 to $80 per month. As per MoneyGeek’s analysis, the following companies offer the cheapest life insurance for seniors in St. Louis:

• MassMutual: $39 per month
• Mutual of Omaha: $44 per month

The following table lists the best life insurance companies in St. Louis alongside their respective rates for seniors.

Rates were determined by analyzing quotes for a 60-year-old male non-smoker in St. Louis who is 5 feet 10 inches tall and weighs 200 pounds with a 10-year term contract at the average coverage need of $77K.

If you’re a smoker, you’ll pay between $108 and $210 per month for a life insurance policy in St. Louis. Based on MoneyGeek’s research, the most affordable life insurance companies in St. Louis for smokers are:

• MassMutual: $108 per month
• State Farm: $109 per month

The following table lists the best life insurance companies in St. Louis for smokers and their average rates.

Rates were determined by analyzing quotes for a 31-year-old male smoker in St. Louis who is 5 feet 10 inches tall and weighs 200 pounds with a 20-year term contract at the average coverage need of $625K.

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.