Best Life Insurance Companies in Tulsa, OK, for 2023

If you have a life insurance policy, your family and loved ones won’t have to face financial troubles after you pass away. It’s best to shop around and compare quotes from different life insurance companies in Tulsa to find the right one for your needs.

In this guide, MoneyGeek researched different companies offering life insurance quotes in Tulsa and found the ones offering the cheapest policies based on your gender, age and smoking habits.

Your life insurance premiums can vary depending on your gender and the coverage amount. In Tulsa, Mass Mutual offers the most affordable $250K coverage amount policy for men and women, charging $10 and $9 per month, respectively.

While it costs less to buy a policy with $250K worth of coverage, it may not be enough. For buyers in Oklahoma, MoneyGeek recommends having a policy with at least $602K worth of coverage. We determined this amount after analyzing the cost of living, average income, average personal debt, average age and other state-specific factors.

Our research shows that Mass Mutual is the cheapest option for men for this coverage amount, with an average cost of $16 per month. For women, Nationwide is the most affordable option, charging an average of $13 per month.

Your gender can play a significant role in determining your life insurance costs. Compared to the average cost of life insurance in Oklahoma, men pay an average of 2% more for a policy. On the other hand, women spend about 6% less.

In Tulsa, men pay an average of $19 per month for a $250K coverage amount policy, while the same policy costs women $15 per month. This difference in costs is more significant when we look at the cost of a policy with the state’s recommended coverage amount, which is based on several factors such as per capita income from the U.S. Bureau of Economics, average mortgage debt and average personal debt and average age.

For the recommended coverage amount, men pay an average monthly cost of $37, while women spend an average of $28 per month for the same policy.

On the other hand, the cost of a 10-year term policy for men in Tulsa is $25 per month, while it’s $19 per month for women.

Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Tulsa using average buyer profile statistics, including the average age of 30, the average weight of 198 pounds for males and 157 pounds for females, and an average coverage need of $602,000.

In Oklahoma, the three most popular insurance companies based on market share are Northwestern Mutual (7%), Mass Mutual (7%) and New York Life (6%). MoneyGeek’s research shows that the seven most popular companies in the state make up 37% of the insurance market.

We listed the seven most popular insurance companies in the table below.

MoneyGeek found that the cost of a policy for youngsters in Tulsa can range from an average of $15 per month to $32 per month. On average, our research shows that the following companies offer the cheapest policies for young people in the city:

• Mutual of Omaha: $15 per month
• Mass Mutual: $15 per month

We listed other cheap options for young people in Tulsa in the table below.

Rates were determined by analyzing quotes for a 25-year-old male non-smoker in Tulsa who is 5 feet 10 inches in height and weighs 169 pounds with a 20-year term contract at the average coverage need of $250,000. We chose a 20-year term to provide a longer coverage period for a younger buyer.

In Tulsa, the cost of life insurance for seniors ranges from an average of $39 per month to $81 per month. MoneyGeek researched the following insurers offering the most affordable policies for seniors in the city on average:

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

We listed the other cheap options for seniors in Tulsa in the table below.

Rates were determined by analyzing quotes for a 60-year-old male non-smoker in Tulsa who is 5 feet 10 inches tall and weighs 198 pounds with a 10-year term contract at the average coverage need of $74,000.

If you’re a smoker in Tulsa, the average life insurance cost can range from $101 per month to $185 per month. MoneyGeek analyzed different insurance companies and found that, on average, the following companies offer the cheapest policies for smokers in the city:

• Mass Mutual: $101 per month
• Nationwide: $102 per month

The table below lists other affordable options for smokers in Tulsa.

Rates were determined by analyzing quotes for a 30-year-old male smoker in Tulsa who is 5 feet 10 inches tall and weighs 198 pounds with a 20-year term contract at the average coverage need of $602,000.

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.