Best Life Insurance Companies in Tallahassee, FL, for 2023

Life insurance provides financial support to your beneficiaries in the event that you pass away. With numerous life insurance companies in Tallahassee, Florida, shopping around and comparing rates will help you find the right policy for your needs.

Using MoneyGeek’s study, you can review the best life insurance companies in Tallahassee based on your age, gender and lifestyle to find the right one for you.

Life insurance premiums are impacted by the buyer’s gender and selected coverage amount. For a policy with a coverage limit of $250K, Transamerica is the most affordable life insurance company for men and women in Tallahassee. With this provider, men pay an average monthly premium of $10, while women pay $9 per month.

A policy with a $250K coverage limit is affordable, but it may not provide enough coverage for your beneficiaries. A good life insurance benchmark is the state’s recommended coverage amount, which is based on several state-specific factors like average income, mortgage and personal debt. In Florida, the state recommended coverage amount is $736K.

For Florida’s recommended coverage amount of $736K, Transamerica provides the cheapest life insurance for men and women at $20 per month and $17 per month, respectively.

Men in Tallahassee pay approximately 6% more than the average cost of life insurance in Florida, while women pay 4% more than the state average.

The average cost of life insurance changes based on your gender. For a policy with a $250K coverage limit, men in Tallahassee pay $19 per month, while women pay $16 per month.

Rates for the state’s recommended coverage amount are higher than those for the standard coverage limit. The state’s recommended coverage amount is based on state-specific factors like average age, personal debt, personal mortgage debt and per capita income from the U.S. Bureau of Economic Analysis. For the recommended coverage amount in Florida of $736K, men in Tallahassee pay $38 per month, while women pay $32 per month.

For a 10-year term policy, regardless of coverage amount, women pay an average of $20 per month, while men pay $24 per month.

Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Tallahassee using average buyer profile statistics, including the average age of 34, the average weight of 183 pounds for males and 145 pounds for females, and an average coverage need of $736,000.

The three most popular life insurance companies in Florida are Northwestern Mutual, Lincoln Financial and MassMutual, with respective market shares of 8%, 6% and 5%. The seven most popular companies in Florida comprise 36% of the market share.

The top-seven life insurance companies in Florida, along with their respective market shares, are included in the table below.

The cost of life insurance in Tallahassee for young adults ranges from $15 to $24 per month. MoneyGeek found that the following two companies offer the most affordable life insurance for young people in the city:

• Transamerica: $15 per month
• Mutual of Omaha: $17 per month

In the table below, you’ll see the other life insurance quotes in Tallahassee for young adults.

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Tallahassee who is 5 feet 10 inches and 156 pounds that purchases a 20-year term contract at the average coverage need of $280K. We chose a 20-year term to provide a more extended coverage period for a younger buyer.

Seniors in Tallahassee can expect to pay between $41 and $85 per month for life insurance. Based on our findings, the following two providers offer the most affordable life insurance policies to seniors in Tallahassee:

• MassMutual: $41 per month
• State Farm: $44 per month

The table below shows the best and most affordable insurance companies in Tallahassee for seniors.

Rates were determined by analyzing quotes for a 60-year-old male non-smoker in Tallahassee who is 5 feet 10 inches and 183 pounds that purchases a 10-year term contract at the average coverage need of $83K.

In Tallahassee, the average cost of life insurance for smokers is between $115 and $203 per month. MoneyGeek found that the following companies offer the most affordable life insurance to smokers in Tallahassee:

• Transamerica: $122 per month
• State Farm: $142 per month

The table below includes rates from additional affordable insurance providers for smokers in the city.

Rates were determined by analyzing quotes for a 34-year-old male smoker in Tallahassee who is 5 feet 10 inches and 183 pounds that purchases a 20-year term contract at the average coverage need of $736K. If you are a smoker, we suggest buying a longer-term (20-year) policy to provide more extended coverage as rates for smokers increase faster as you age.

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. Remember that each buyer is unique and may need more or less coverage depending on their circumstances.