Best Life Insurance Companies in Stockton, CA

MoneyGeek evaluated life insurance quotes in Stockton and found that the best company overall, as well as for young people, seniors and smokers, is Transamerica. You can purchase a $250K life insurance policy in Stockton for as low as $9 per month. If you’re looking for a $1.13 million policy (the state’s recommended coverage), the most affordable policy costs $19 per month.

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

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2023

Best Life Insurance Companies in Stockton, CA, for 2023

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Best Cheap Life Insurance in Stockton

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 Life Insurance Companies for Males and Females in Stockton
  • Cheapest For
    $250K Coverage
    $1,130,000 Coverage (Recommended)
  • Male

    Transamerica

    Transamerica

  • Female

    Transamerica

    Transamerica

Life Insurance Costs in Stockton for Men and Women

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.

Average Monthly Life Insurance Rates in Stockton: Men

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Transamerica
    $9
    $19
  • Nationwide
    $11
    $21
  • MassMutual
    $10
    $24
  • Mutual of Omaha
    $11
    $25
  • AAA
    $12
    $27
  • State Farm
    $16
    $36
  • Prudential
    $26
    $49
  • Progressive Life
    $15
    $57
Average Monthly Life Insurance Rates in Stockton: Women

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Transamerica
    $7
    $14
  • Nationwide
    $9
    $15
  • Mutual of Omaha
    $9
    $16
  • MassMutual
    $8
    $16
  • Progressive Life
    $10
    $39
  • AAA
    $14
    $40
  • State Farm
    $16
    $48
  • Prudential
    $16
    $59

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.

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LIFE INSURANCE OFTEN COSTS LESS FOR WOMEN

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.

Most Popular Life Insurance Companies in California

Based on MoneyGeek’s analysis, California’s three most popular life insurance companies based on market share are:

  • New York Life - 8%
  • Transamerica - 7%
  • Northwestern Mutual - 5%

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.

Most Popular Life Insurance Companies in California

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  • Company
    Market Share
  • New York Life
    8%
  • Transamerica
    7%
  • Lincoln Financial
    5%
  • Northwestern Mutual
    5%
  • Prudential
    4%
  • Pacific Life
    4%
  • MassMutual
    4%
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MONEYGEEK DICTIONARY

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.

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Cheapest Life Insurance for Young People in Stockton

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:

  • Transamerica: $16 per month
  • Mutual of Omaha: $17 per month

We list life insurance quotes for young people in Stockton in the table below.

Best Life Insurance Companies for Young People in Stockton, CA

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  • Company
    Monthly Cost
  • Transamerica
    $16
  • Mutual of Omaha
    $17
  • MassMutual
    $17
  • AAA
    $19
  • State Farm
    $21
  • Nationwide
    $21
  • Prudential
    $22
  • Progressive Life
    $25

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.

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LIFE INSURANCE IS CHEAPER FOR YOUNG PEOPLE

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.

Cheapest Life Insurance for Seniors in Stockton

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:

  • Transamerica: $35 per month
  • MassMutual: $37 per month

We detailed life insurance premium prices for seniors in Stockton in the table below.

Best Life Insurance Companies for Seniors in Stockton, CA

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  • Company
    Monthly Cost
  • Transamerica
    $35
  • MassMutual
    $37
  • State Farm
    $40
  • Nationwide
    $40
  • AAA
    $42
  • Mutual of Omaha
    $42
  • Progressive Life
    $63
  • Prudential
    $80

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.

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LIFE INSURANCE COSTS MORE FOR SENIORS

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.

Cheapest Life Insurance for Smokers in Stockton

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:

  • Transamerica: $133 per month
  • Nationwide: $145 per month

We collected life insurance quotes in Stockton for smokers in the table below.

Best Life Insurance Companies for Smokers in Stockton, CA

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  • Company
    Monthly Cost
  • Transamerica
    $133
  • Nationwide
    $145
  • State Farm
    $158
  • Mutual of Omaha
    $161
  • MassMutual
    $162
  • AAA
    $170
  • Prudential
    $185
  • Progressive Life
    $199

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.

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LIFE INSURANCE IS VERY EXPENSIVE FOR SMOKERS

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.

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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


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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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