Updated: May 22, 2024
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Life insurance is a good investment as it offers your loved ones financial protection if you suddenly die. MoneyGeek suggests you shop around and compare quotes from various companies to find policies that fit your needs and lifestyle.
We ranked the top life insurance companies in Stockton to help you find the best offers. Our team also highlighted providers with the cheapest rates based on age, gender and smoking history.
BestLife InsuranceStockton, CABest Life Insurance Companies in Stockton, CA, for 2023
Coverage amount and gender are important factors that affect life insurance prices. Transamerica has the most affordable $250K policies in Stockton, priced at $9 per month for men and $7 per month for women.
Although $250K policies are more affordable, most people find such coverage insufficient for their beneficiary’s financial security. The recommended coverage amount in California is $1.13 million, which considers California’s average cost of living, income, personal debt, age and other state-specific factors.
Transamerica again has the cheapest rates in Stockton for $1.13 million policies. The average price for men is $19 per month, and $14 per month for women.
Cheapest For | $250K Coverage | $1,130,000 Coverage (Recommended) |
|---|---|---|
Male | Transamerica | Transamerica |
Female | Transamerica | Transamerica |
Like gender, location also affects life insurance prices. For example, Stockton rates are 9% lower for men and 18% lower for women compared to the state’s average.
On average, life insurance in Stockton with $250K coverage costs $15 for men and $12 for women. However, premium prices vary significantly based on the coverage amount.
After considering information such as the U.S. Bureau of Economic Analysis’ per capita income and California’s average mortgage debt, personal debt and age, the recommended insurance coverage in the state is $1.13 million.
Males in Stockton pay around $40 per month for a $1.13 million policy, while women pay $37 per month. The average price of a 10-year term policy (regardless of coverage limits) is $23 for men and $21 for women.
| Transamerica | Rates for $250K Coverage$9 | Rates for $926K Coverage (Recommended) $19 |
| Nationwide | Rates for $250K Coverage$11 | Rates for $926K Coverage (Recommended) $21 |
| MassMutual | Rates for $250K Coverage$10 | Rates for $926K Coverage (Recommended) $24 |
| Mutual of Omaha | Rates for $250K Coverage$11 | Rates for $926K Coverage (Recommended) $25 |
| AAA | Rates for $250K Coverage$12 | Rates for $926K Coverage (Recommended) $27 |
| Transamerica | Rates for $250K Coverage$7 | Rates for $926K Coverage (Recommended) $14 |
| Nationwide | Rates for $250K Coverage$9 | Rates for $926K Coverage (Recommended) $15 |
| Mutual of Omaha | Rates for $250K Coverage$9 | Rates for $926K Coverage (Recommended) $16 |
| MassMutual | Rates for $250K Coverage$8 | Rates for $926K Coverage (Recommended) $16 |
| Progressive Life | Rates for $250K Coverage$10 | Rates for $926K Coverage (Recommended) $39 |
Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Stockton using average buyer profile statistics, including the average age of 30, the average weight of 179 pounds for males and 142 pounds for females, and an average coverage need of $1,130,000.
One of the most important factors that affect life insurance prices is gender. On average, life insurance is cheaper for women than men because women have a longer life expectancy.
Additionally, men are more likely to engage in risky activities, have dangerous jobs, and skip doctor visits. As a result, they are riskier to insure, and insurance providers charge them more. Just the same, studies show that more men than women buy life insurance.
No matter the role women play in their household’s economy — as breadwinners or stay-at-home caretakers — their dependents will suffer financially if they suddenly pass away. Thus, it also makes sense for women to buy life insurance.
Based on MoneyGeek’s analysis, California’s three most popular life insurance companies based on market share are:
We also found that the seven most popular providers in the state make up 39% of the market. The table below shows these insurers and their market share in California.
| New York Life | Market Share8% |
| Transamerica | Market Share7% |
| Northwestern Mutual | Market Share5% |
| Lincoln Financial | Market Share5% |
| MassMutual | Market Share4% |
A company’s market share is its percentage of sales relative to other companies in its industry. Among life insurance providers, companies with a high market share are those that have sold more policies compared to others. For this guide, we used market share data from S&P Global’s 2020 annual report.
In Stockton, life insurance for young people can range between $16 and $25 per month. MoneyGeek’s analysis shows that the most affordable providers in the city for younger buyers are:
We list life insurance quotes for young people in Stockton in the table below.
| Transamerica | Monthly Cost$16 |
| Mutual of Omaha | Monthly Cost$17 |
| MassMutual | Monthly Cost$17 |
| AAA | Monthly Cost$19 |
| State Farm | Monthly Cost$21 |
Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Stockton who is 5 feet 10 inches in height and weighs 152 pounds with a 20-year term contract at the average coverage need of $360K. We chose a 20-year term to provide a longer coverage period for a younger buyer.
Life insurance is more affordable if you’re 25 years old or below since you’re relatively healthy. However, your rates become more expensive as you grow older and more susceptible to illnesses. Thus, buying life insurance while you’re still young and have lower premium prices is a good idea. Aside from protecting your beneficiaries, doing this can result in significant savings over time.
Seniors in Stockton pay roughly between $35 and $80 per month for life insurance. MoneyGeek studied providers in the city and found that the following have the lowest rates for older buyers:
We detailed life insurance premium prices for seniors in Stockton in the table below.
| Transamerica | Monthly Cost$35 |
| MassMutual | Monthly Cost$37 |
| State Farm | Monthly Cost$40 |
| Nationwide | Monthly Cost$40 |
| AAA | Monthly Cost$42 |
Rates were determined by analyzing quotes for a 60-year-old male non-smoker in Stockton who is 5 feet 10 inches tall and weighs 179 pounds with a 10-year term contract at the average coverage need of $107K.
Life insurance companies charge seniors higher premiums since it’s likely that their policies will outlive them. Luckily, older people don’t need as much coverage as their younger counterparts as they often don’t have financial dependents. Seniors usually need life insurance to pay for burial arrangements, estate taxes and other similar expenses. MoneyGeek’s sample policy for seniors, then, is only around $100K.
An average smoker in Stockton can expect life insurance prices to range from approximately $133 to $199 per month. Based on MoneyGeek’s analysis, the most affordable companies for smokers in the city are:
We collected life insurance quotes in Stockton for smokers in the table below.
| Transamerica | Monthly Cost$133 |
| Nationwide | Monthly Cost$145 |
| State Farm | Monthly Cost$158 |
| Mutual of Omaha | Monthly Cost$161 |
| MassMutual | Monthly Cost$162 |
Rates were determined by analyzing quotes for a 30-year-old male smoker in Stockton who is 5 feet 10 inches tall and weighs 179 pounds with a 20-year term contract at the average coverage need of $1.13 million.
Smokers are considered riskier to insure since they are more likely to develop life-threatening diseases. Because of that, insurance companies charge them higher premiums. If you’re a smoker, you can still find affordable life insurance policies by shopping around. We also suggest that you get a longer-term policy (at least 20 years) since health complications from smoking compound as you age.
Ensure you are getting the best rate for your insurance. Compare quotes from the top insurance companies.
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 Mark Fitzpatrick
Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
