Best Life Insurance Companies in Vancouver, WA

MoneyGeek analyzed life insurance companies in Vancouver and found Transamerica is the best overall, and for young people, seniors and smokers. Moreover, our study shows that the city’s cheapest $250K policy costs approximately $9 per month, while the most affordable $965K policy (the recommended coverage in the state of Washington) is around $22 per month.

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Advertising & Editorial DisclosureLast Updated: 12/23/2022
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Life insurance ensures your loved ones receive financial support if you unexpectedly pass away. MoneyGeek suggests you shop around and compare quotes from various companies to find Vancouver’s best life insurance provider. To help you, our team ranked the city’s life insurance carriers and picked the top ones based on age, lifestyle and other factors.

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2023

Best Life Insurance Companies in Vancouver, WA, for 2023

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Best Cheap Life Insurance in Vancouver

Factors like your gender and preferred coverage limit affect your life insurance premiums. In Vancouver, the cheapest providers for a $250K policy are:

  • For men: Transamerica at $9 per month
  • For women: MassMutual at $8 per month

Although a $250K policy is relatively cheap, you may find it insufficient to cover your family’s needs. In fact, the recommended coverage amount in Washington is $965K, based on the state’s average cost of living, income, debt and other state-specific factors.

If you want a $965K life insurance policy in Vancouver, the following companies offer the most affordable options:

  • For men: Transamerica at $22 per month
  • For women: Nationwide at $15 per month
Cheapest Life Insurance Companies for Males and Females in Vancouver
  • Cheapest For
    $250K Coverage
    $965K Coverage (Recommended)
  • Male

    Transamerica

    Transamerica

  • Female

    MassMutual

    Nationwide

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Life Insurance Costs in Vancouver for Men and Women

In Vancouver, life insurance is cheaper compared to the state’s average — 6% cheaper if you’re a man and 14% more affordable if you’re a woman.

Your gender significantly affects your life insurance premiums. If you’re buying a $250K life insurance policy in Vancouver, you’ll pay around $16 per month if you’re a man but roughly $14 per month if you’re a woman.

Your preferred coverage limit also greatly affects the cost of your life insurance. In Washington, the recommended life insurance coverage is $965K based on the state’s per capita income (from the U.S. Bureau of Economic Analysis), average mortgage debt, personal debt and age.

A $965K policy costs approximately $42 for males and around $37 for females. On the other hand, a 10-year life insurance policy in Vancouver, regardless of coverage limit, costs an average of $25 for men and $22 for women.

Average Monthly Life Insurance Rates in Vancouver: Men

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Transamerica
    $9
    $22
  • Nationwide
    $11
    $23
  • MassMutual
    $10
    $23
  • Mutual of Omaha
    $11
    $25
  • AAA
    $13
    $29
  • State Farm
    $18
    $44
  • Prudential
    $28
    $49
  • Progressive Life
    $15
    $65
Average Monthly Life Insurance Rates in Vancouver: Women

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  • Company
    Rates for $250K Coverage
    Rates for $926K Coverage (Recommended)
  • Nationwide
    $9
    $15
  • MassMutual
    $8
    $16
  • Mutual of Omaha
    $9
    $16
  • Transamerica
    $11
    $28
  • State Farm
    $17
    $38
  • AAA
    $14
    $42
  • Progressive Life
    $16
    $42
  • Prudential
    $16
    $50

Life insurance policy costs were determined by gathering 10-year term quotes from major life insurance companies in Vancouver using average buyer profile statistics, including the average age of 30, the average weight of 183 pounds for males and 145 pounds for females, and an average coverage need of $965,000.

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LIFE INSURANCE OFTEN COSTS LESS FOR WOMEN

On average, women pay less than men for life insurance. Women tend to have a longer life expectancy, so insurance companies consider them safer to insure. Conversely, men are likelier to engage in risky behavior, have dangerous jobs and develop heart diseases than their female counterparts.

Studies show that more men purchase life insurance than women. However, it’s a good idea for women to have life insurance policies. Whether they’re the family’s primary breadwinner or stay-at-home caretaker, they have an important role in their household economies.

Most Popular Life Insurance Companies in Washington

MoneyGeek’s research found that the most popular life insurance companies in Washington in terms of market share are New York Life (9%), Northwestern Mutual (8%) and Prudential Financial Inc. (5%). Further, the state’s seven largest providers have a combined market share of 39%. The table below lists Washington’s largest life insurance carriers.

Most Popular Life Insurance Companies in Washington

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  • Company
    Market Share
  • New York Life
    9%
  • Northwestern Mutual
    8%
  • Prudential
    5%
  • Lincoln Financial
    5%
  • John Hancock
    4%
  • Pacific Life
    4%
  • State Farm
    4%
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MONEYGEEK DICTIONARY

A company’s market share is the percentage of sales it controls in its industry. Among life insurance providers, a company with a high market share sells more policies than other carriers.

The market share data we used in this study was based on each company’s total premiums written in the state, per data reports from the 2020 S&P Global.

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Cheapest Life Insurance for Young People in Vancouver

Based on MoneyGeek’s analysis, life insurance in Vancouver for young people ranges from $15 and $25 per month. Our pick for the city’s best providers for younger adults are:

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

View life insurance quotes in Vancouver for young people using the table below.

Best Life Insurance Companies for Young People in Vancouver, WA

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  • Company
    Monthly Cost
  • Transamerica
    $15
  • Mutual of Omaha
    $17
  • MassMutual
    $17
  • AAA
    $20
  • State Farm
    $21
  • Prudential
    $21
  • Nationwide
    $22
  • Progressive Life
    $25

MoneyGeek determined rates by analyzing quotes for a 25-year-old male non-smoker in Vancouver who is 5 feet 10 inches and 156 pounds and purchases a 20-year term contract at the average coverage need of $340K. 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 cheapest if you’re 25 years or younger. Because premium prices increase as you age, buying life insurance at a young age is a smart way to save money.

Cheapest Life Insurance for Seniors in Vancouver

Seniors in Vancouver pay between $35 and $75 for life insurance. MoneyGeek’s analysis shows that the best life insurance companies in the city for older adults are:

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

The table below lists the most affordable life insurance companies in Vancouver for seniors.

Best Life Insurance Companies for Seniors in Vancouver, WA

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  • Company
    Monthly Cost
  • Transamerica
    $35
  • MassMutual
    $37
  • State Farm
    $40
  • Nationwide
    $42
  • Mutual of Omaha
    $42
  • AAA
    $43
  • Progressive Life
    $65
  • Prudential
    $75

MoneyGeek determined rates by analyzing quotes for a 60-year-old male non-smoker in Vancouver who is 5 feet 10 inches and 183 pounds and purchases a 10-year term contract at the average coverage need of $102K.

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LIFE INSURANCE COSTS MORE FOR SENIORS

Life insurance companies consider older adults riskier to insure because their policies will likely outlive them. As a result, seniors pay more expensive insurance premiums.

However, most seniors don’t need significant coverage limits, as their beneficiaries tend to be financially independent adults. Typically, a senior’s life insurance proceeds cover burial arrangements and estate liabilities. Thus, the sample policy we used for seniors has a lower coverage limit than the other profiles in this guide.

Cheapest Life Insurance for Smokers in Vancouver

MoneyGeek’s study shows that life insurance quotes in Vancouver range from $124 to $271 per month for smokers. The following are the best providers in the city for people who smoke:

  • Transamerica: $124 per month
  • MassMutual: $146 per month

You can find the cheapest life insurance companies in Vancouver for smokers in the table below.

Best Life Insurance Companies for Smokers in Vancouver, WA

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  • Company
    Monthly Cost
  • Transamerica
    $124
  • MassMutual
    $146
  • State Farm
    $151
  • Nationwide
    $153
  • Mutual of Omaha
    $162
  • Prudential
    $183
  • Progressive Life
    $235
  • AAA
    $271

MoneyGeek determined rates by analyzing quotes for a 30-year-old male smoker in Vancouver who is 5 feet 10 inches and 183 pounds and purchases a 20-year term contract at the average coverage need of $965K. If you are a smoker, we suggest buying a longer-term (20-year) policy to provide longer coverage since rates for smokers dramatically increase as you age.

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LIFE INSURANCE IS VERY EXPENSIVE FOR SMOKERS

Due to the long-term health problems caused by smoking, insurance companies consider smokers high risk and charge them more expensive premiums. However, smokers in Vancouver can still find affordable life insurance. MoneyGeek recommends buying a longer-term policy (with at least 20 years), as rates for smokers only grow exponentially over time.

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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


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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