Best Life Insurance Companies in Tucson, AZ

Among the best Tucson life insurance companies, MoneyGeek recommends Nationwide if you're an average adult, MassMutual if you're young or a senior and Transamerica if you're a smoker. A $250K coverage policy costs $10 per month, while a state-recommended policy costs $17 per month.

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Advertising & Editorial DisclosureLast Updated: 12/22/2022
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You can provide your beneficiaries with financial support if you pass away by purchasing a life insurance policy. Our goal at MoneyGeek is to help you find the most affordable and suitable policy for your lifestyle by shopping around and comparing prices in Tucson using our guide.

Compare Tucson life insurance companies using MoneyGeek's comparison of average rates for your age, gender and smoking history.

MoneyGeek Logo IconBestLife InsuranceTucson, AZ
2023

Best Life Insurance Companies in Tucson, AZ, for 2023

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Best Cheap Life Insurance in Tucson

Depending on your gender and policy limit, insurers charge different premiums. In the city of Tucson, MassMutual charges an average of $10 per month for $250K of coverage for men and $8 per month for women.

Despite being more affordable, a $250K policy may not be enough for your beneficiaries. Based on state-specific factors such as income, debt, age and cost of living, state-average recommended amounts can be used to benchmark a life insurance policy. The state of Arizona allocates $708K for this purpose.

The cheapest life insurance policy for Arizona is offered by Nationwide for $17 a month for males and $12 a month for females.

Cheapest Life Insurance Companies for Males and Females in Tucson
  • Cheapest For
    $250K Coverage
    $708K Coverage (Recommended)
  • Male

    MassMutual

    Nationwide

  • Female

    MassMutual

    Nationwide

Life Insurance Costs in Tucson for Men and Women

You can expect life insurance to cost more or less depending on your gender. The cost of life insurance in Tucson is 16% lower than the average in Arizona for women, and 11% lower for men.

A $250K policy costs females on average $13 a month, while a male policy costs $18 a month. However, if you use the U.S. Bureau of Economics' recommended coverage amount, which takes into account per capita income, average mortgage debt, average personal debt and average age, these rates change significantly.

Based on Arizona's recommended $708K coverage amount, the average monthly premium for women is $24 and for men is $35.

It might also be a good idea to purchase a term insurance policy. Women pay an average of $16 per month for a 10-year term policy, regardless of the coverage limit, while men pay $23 per month.

Average Monthly Life Insurance Rates in Tucson: Men

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Nationwide
    $11
    $17
  • MassMutual
    $10
    $17
  • Mutual of Omaha
    $11
    $18
  • Transamerica
    $13
    $28
  • AAA
    $15
    $30
  • State Farm
    $18
    $36
  • Prudential
    $26
    $43
  • Progressive Life
    $22
    $47
Average Monthly Life Insurance Rates in Tucson: Women

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Nationwide
    $9
    $12
  • Mutual of Omaha
    $9
    $13
  • MassMutual
    $8
    $13
  • Transamerica
    $10
    $20
  • AAA
    $11
    $22
  • State Farm
    $14
    $24
  • Prudential
    $16
    $26
  • Progressive Life
    $16
    $31

Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Tucson using average buyer profile statistics, including the average age of 30, the average weight of 197 pounds for males and 156 pounds for females, and an average coverage need of $708,000.

woman icon
LIFE INSURANCE OFTEN COSTS LESS FOR WOMEN

Generally, men pay more premium than women for a life insurance. In part, this is due to the fact that women live longer, according to the National Center for Health Statistics (NCHS). Women outlive men for several reasons, including their riskier occupations and their reluctance to see doctors regularly.

Despite statistics showing women live longer, most life insurance policies are held by men. It is important for women, regardless of their role in the household, to purchase a good life insurance policy. A life insurance policy offers protection to dependents such as children, elderly parents and others in the event of death.

Most Popular Life Insurance Companies in Arizona

With market shares of 7%, 6%, and 5%, respectively, Prudential Financial, Northwestern Mutual and Lincoln Financial dominate Arizona's insurance market. A total of 35% of Arizona's market share is accounted for by the seven most popular companies.

Following is a table that shows the market shares of Arizona's top life insurance companies.

Most Popular Life Insurance Companies in Arizona

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  • Company
    Market Share
  • Prudential
    7%
  • Northwestern Mutual
    6%
  • New York Life
    5%
  • Pacific Life
    5%
  • Lincoln Financial
    5%
  • State Farm
    4%
  • John Hancock
    3%
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MONEYGEEK DICTIONARY

Market share is determined by comparing a company's sales with those of its competitors. Market dominance is more likely to occur when a company has a high market share. In insurance, market share determines how many policies a company sells. The company with the highest market share sold the most policies.

Using S&P Global data, MoneyGeek provides market share information based on each company's total premiums.

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Cheapest Life Insurance for Young People in Tucson

A Tucson life insurance policy can cost between $14 and $40 a month for a younger adult. For young people in Tucson, MoneyGeek found the following two insurers to be most affordable:

  • MassMutual: $14 per month
  • AAA: $15 per month

Below is a table of cheap life insurance for young people in Tucson offered by other providers.

Best Life Insurance Companies for Young People in Tucson, AZ

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  • Company
    Monthly Cost
  • MassMutual
    $14
  • AAA
    $15
  • Nationwide
    $17
  • Transamerica
    $18
  • Mutual of Omaha
    $18
  • State Farm
    $19
  • Progressive Life
    $19
  • Prudential
    $40

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Tucson who is 5 feet 10 inches and 168 pounds that purchases a 20-year term contract at the average coverage need of $240,000. 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

When you are under 25, life insurance is less expensive, but as you age, the price increases. Therefore, buying life insurance early is one of the best ways to save on a policy. Your monthly payment will be lower if you are younger and healthier.

Cheapest Life Insurance for Seniors in Tucson

Life insurance rates for Tucson seniors range between $34 and $71. Seniors can find affordable life insurance in Tucson with the following companies:

  • MassMutual: $34 per month
  • Mutual of Omaha: $39 per month

More information about the best and cheapest insurers for seniors can be found in the table below.

Best Life Insurance Companies for Seniors in Tucson, AZ

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  • Company
    Monthly Cost
  • MassMutual
    $34
  • Mutual of Omaha
    $39
  • Nationwide
    $39
  • State Farm
    $41
  • AAA
    $52
  • Progressive Life
    $62
  • Transamerica
    $63
  • Prudential
    $71

Rates were determined by analyzing quotes for a 60-year-old male non-smoker in Tucson who is 5 feet 10 inches and 197 pounds that purchases a 10-year term contract at the average coverage need of $73,000.

seniors icon
LIFE INSURANCE COSTS MORE FOR SENIORS

In older adults, life insurance premiums are more likely to be higher since their lives are shorter. By getting less coverage, premiums can be reduced. If the beneficiaries are grown adults, they shouldn't require as much financial support. Hence, having less coverage is more practical.

Life insurance is usually only needed to cover funeral expenses and debts left over after a senior passes away. The $94K of coverage we provide in our senior sample policy reflects this need.

Cheapest Life Insurance for Smokers in Tucson

Those who smoke in Tucson can expect to pay between $87 and $191 per month for life insurance. In Tucson, MoneyGeek found the following companies to be the cheapest for smokers:

  • Transamerica: $87 per month
  • MassMutual: $103 per month

A list of Tucson insurance providers that offer more affordable coverage for smokers can be found below.

Best Life Insurance Companies for Smokers in Tucson, AZ

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  • Company
    Monthly Cost
  • Transamerica
    $87
  • MassMutual
    $103
  • State Farm
    $106
  • Nationwide
    $109
  • Mutual of Omaha
    $114
  • Prudential
    $129
  • Progressive Life
    $162
  • AAA
    $191

Rates were determined by analyzing quotes for a 30-year-old male smoker in Tucson who is 5 feet 10 inches and 197 pounds that purchases a 20-year term contract at the average coverage need of $708,000.

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LIFE INSURANCE IS VERY EXPENSIVE FOR SMOKERS

Due to the adverse health effects of smoking, insurers charge smokers higher premiums. However, you can still get cheap life insurance if you smoke. MoneyGeek recommends that smokers buy a long-term policy of at least 20 years since their rates increase exponentially with 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 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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