The Best & Most Affordable Arizona Life Insurance Quotes & Companies (2021)

The Sonoran Desert, Great Canyon, Petriphied Forest as well as those who live, work and play in the magnificent Arizona landscape and busy cities are home to amazing natural wonders such as Arizona. The lovely life in the warm sun is just a little sweeter for Arizona life insurance policyholders with the assurance of a life insurance policy.

To many, protecting your assets and the future security of your loved ones with the correct life insurance coverage appears to be an impossible effort. With their simple comparison tool, Onlineinsurequote.com transforms overwhelm into simplicity. Onlineinsurequote.com will give you with a selection of quotes from the best life insurance companies to compare and potentially buy straight on the site after you answer a few simple questions.

What Is the Cost of Life Insurance in Arizona?

The average cost of a $1,000,000 20-year term life insurance policy in Arizona ranges from $10.80 to $136.07, depending on your age and other criteria.

Three aspects are significantly involved in the price of life insurance: risk, mortality, and investment management. The risk in life insurance refers not to gain but to loss, such as premature death or a natural disaster that damages your property. These are insurable risks that may be covered by life insurance companies. Insurers must examine the applicant's likelihood of causing a loss to the company. Underwriters evaluate your risk if your application is accepted during the underwriting stage of the application procedure. When you acquire a policy in your thirties and purchase insurance until you are 90, a life insurance company won't consider you a high risk. If you die a few years after paying your premiums and the insurer has to pay out your death benefit, you pose a high risk to the company.

Underwriters evaluate your risk if your application is accepted during the underwriting stage of the application procedure. When you acquire a policy in your thirties and purchase insurance until you are 90, a life insurance company won't consider you a high risk. If you die a few years after paying your premiums and the insurer has to pay out your death benefit, you pose a high risk to the company.

Most life insurance firms calculate mortality based on NAIC figures, which are provided on the Commissioners Standard Ordinary Table (CSO Table). The CSO Table depicts the average mortality experience in the United States for different genders and age groups until the age of 120. The NAIC also analyses state mortality rates, which may have an impact on premiums.

Your policy's investment management includes both interest and costs. Investment interest might be deducted from your premium calculation. Expenses that your insurer anticipates incurring to cover operating costs, provide a margin of safety, and contribute to capital are included in your life insurance premium.

Who Has the Lowest Life Insurance Rates in Arizona?

Because investment management and mortality are unavoidable implications of life insurance, the most significant difference across policies is a risk. Smoking, hazardous employment or hobbies, disease, and a family history of illness all lead to increased premiums.

Insurers employ statistical data to categorize applicants into risk groups. They must be nondiscriminatory and apply the same criteria to all applicants when categorizing them as risks. An applicant who is classed as a standard risk follows the criteria of the insurer and pays normal premiums. A preferred risk has excellent health and low-risk habits, and his or her premiums are lower. A substandard risk is a high risk, thus the premiums are greater.

Life insurance products are not all the same because they must cover people from all walks of life. A policy that is appropriate for a single woman in her 30s may not be appropriate for a growing family. Term life insurance and whole life insurance are the two basic types of policies that comprise the life insurance industry.

Term Life Insurance

Term life insurance is only valid for a set period of time, after which it expires. It will pay out if you die during the policy's term. If you live past the time limit, the policy will expire without paying anything. Term life insurance contracts are often renewable and convertible to permanent life insurance at a premium increase. Furthermore, term life insurance is typically less expensive than whole life insurance.

Term life insurance can also be purchased with term life riders. Riders are add-on policies that are connected to basic policies, usually at an additional cost, to provide further protection. Long-term care riders, which cover the costs of long-term care like as nursing home care, and premium waiver riders, which waive your premiums if you become disabled, are examples of term life riders.

Whole life Insurance

Whole life insurance is any sort of permanent life insurance with a cash value that grows over time. The most traditional type of permanent life insurance is whole life insurance. It provides a guaranteed death benefit as well as a guaranteed monetary value. This separates it from other forms of permanent insurance, such as variable and universal life policies, in which the cash value fluctuates depending on investment performance.

Term life insurance policies are typically less expensive than permanent life insurance policies. In addition, the more life insurance coverage you acquire, the higher your premium. Premiums for a policy with a $100,000 death benefit, or face amount, will be less than premiums for a policy with a $500,000 death benefit. The table below shows the average premium for various age groups in Arizona for a $100,000 10-year term life insurance policy.

What are the best and most affordable life insurance companies in Arizona?

The greatest life insurance company is one that has the finest coverage for your specific needs and budget. Life insurance agents are obligated to ensure that all advice, including your personal finances, is appropriate for customers. Financial gurus typically advise purchasing at least ten times your annual salary in life insurance coverage.

Life insurance companies must have the financial strength to pay claims in order to fulfill their end of the bargain in exchange for your payments. Independent rating services, such as A.M. Best, offer ratings (typically ranging from A to D) to alert consumers to the financial strength of a life insurance firm. D is insolvent, while A has better financial strength.

If your life insurance company goes bankrupt, Arizona's Guaranty Funds may cover your claims. State rules limit how much guaranty funds can pay policyholders who have claims against insolvent corporations. Death benefits in Arizona are limited to $300,000, and long-term care insurance is limited to $300,000 as well. They also pay for property and casualty claims, as well as disability income insurance claims, among other things.

Term life insurance is typically less expensive than full life insurance. Term policies typically have terms ranging from one to thirty years and are typically renewable with a rate rise. A 10-year term life insurance policy's rates will not increase during the term because you can lock in rates for the whole term, and with a face amount of $100,000, premiums should remain cheap.

Best and Most Affordable Life Insurance for Teens

Depending on the life insurance company, a kid can be covered as early as one day old. Life insurance for teenagers is typically inexpensive and can be used to teach your youngster about saving and investing. Term policies having cash value and non-forfeiture options can be converted to permanent insurance. This might provide your teen an early start in financial management if talked with them.

Protective Life

Protective Life Insurance provides insurance to meet the needs of a growing family. It will assist you in determining the appropriate coverage for important life events such as having a baby, establishing a business, and retiring. You can talk to one of its life insurance agents over the phone about a life insurance policy for your teen, or you can get a free online quotation.

Haven Life

Haven Life Insurance accepts applications online. It is supported by its parent firm, MassMutual, which has been in the life insurance business for almost a century and is financially stable. Some policies do not require a medical insurance exam if you are under the age of 65. To receive a quotation and apply for coverage, go to Haven Life's website.
The table below shows the average cost for a 10-year, $100,000 term life insurance policy for teenagers.

Best and cheapest life insurance for those aged 20 to 29

In our twenties, we are usually just figuring out what we want to do professionally, getting started in our chosen field, or making plans to start a family. In our twenties, life insurance provides us with the assurance that debts from college, business loans, or a mortgage will not be a burden on our loved ones if we die.

Sagicor

Sagicor Life was founded in 1954. It is a relatively young corporation with an A+ rating from A.M. Best. It operates in 21 countries and is committed to being free of limits and providing equal opportunities. It provides no-exam term life insurance online, and you can be approved in minutes.

American Family

American Family offers term life insurance with maturities ranging from 10 to 30 years. Premiums remain constant during the term. You can supplement its term life policies with a children's insurance rider and a premium waiver. The table below shows the typical premiums for a 10-year, $100,000 term life policy for people in their twenties.

Best and most affordable life insurance for those aged 30 to 39 years old

Most people buy life insurance in their thirties. Our enterprises may have begun to pick up momentum at this point in our lives, we may have taken out our first mortgage, and we may have children whose lives are more essential than anything else. Life insurance protects our dreams in this world even after we are gone.

Vantis Life

Vantis Life has been in the insurance business for almost 75 years and has an A+ rating from A.M. Best. It offers an online application process and term plans with guaranteed level premiums for terms ranging from 10 to 30 years. Riders are available at no additional cost and may cover long-term care depending on the policy you purchase.

Mutual Omaha

Mutual of Omaha's term life insurance plans provide a guaranteed death benefit, consistent premiums for the term's duration, and large face amounts, as well as the ability to convert policies to permanent insurance. It was founded in 1909 and is known for its high ethics and financial strength. The table below shows the average rates for a $100,000 10-year term life insurance policy for people in their 30s.

Best and most affordable life insurance for those aged 40 to 49 years old

We have laid foundations that we hope to last when we reach our forties. Our life's work has expanded, and our legacy is comprised of everything we have pushed for and created. Life insurance ensures that our loved ones are not financially burdened as a result of the loss of income caused by our death.

Foresters Finance

Foresters Financial's term life insurance policies are reasonably priced, with level rates for the duration of the policy. It has been in operation for about 150 years. It has a renewable and convertible accelerated mortality benefit driver and policies. The rating of Foresters Financial is A of A.M. Best.

MassMutual

For its term life policies, MassMutual provides a rapid online application process. MassMutual, which was founded in 1851, has great financial strength. Its term life insurance products are inexpensive, convertible, and renewable. The table below shows the average cost of a 10-year, $100,000 term life insurance policy for people in their 40s.

Best and most affordable life insurance for those aged 50 to 59 years old

Life insurance may become more significant in our 50s as we plan for retirement and want to ensure we have enough to live comfortably without depleting all of our funds. Life insurance provides an estate to address obligations and leave a legacy for our children, allowing us to enjoy our days off without anxiety when the time comes.

Principle Life

Principal Life offers life insurance to cover every part of your family's needs, including funeral costs, debt, mortgage, retirement, and more. It is a Fortune 500 firm that has been in the life insurance sector since 1879. It also provides disability insurance and trusts.

Pacific Life

Pacific Life provides a wide range of life insurance policies. Its term life policies range in length from 10 to 30 years and, depending on the policy, may include long-term care coverage. Pacific Life has about $200 billion in assets and is expected to pay out $3 billion in claims in 2020. The table below shows the average cost of a 10-year, $100,000 term life insurance policy for people in their 50s.

Best and Cheapest Life insurance for People 60 to 69 Years Old

By the age of 60, it is time to not only take care of oneself, but also to spend time with loved ones and even an expanding family. Most individuals retire in their 60s and want to ensure that they can enjoy the greatest parts of life, such as spending time with grandchildren. A life insurance coverage allows you to enjoy your time while knowing that your future is protected.

SBLI

SBLI's term life insurance policies are reasonable and convertible, and a medical exam is not necessary for policies of $750,000 or less if you are between the ages of 18 and 60. SBLI was founded in 1907 and has A ratings from A.M. Best and S&P. It has paid out nearly $4 billion in benefits and dividends to its policyholders since 1907.

Prudential

Prudential offers a choice of term life insurance plans that include benefits such as set premiums and a guaranteed death benefit. In accordance with the policy, you can add riders who benefit from living, children's riders and other perks. The graph below depicts the typical rates for a 10-year, $100,000 term life insurance policy for people in their 60s.

Best and most affordable life insurance for those aged 70 to 79 years old

Life insurance will be more difficult to obtain in our 70s, and businesses will normally charge higher premiums to insure us. Protecting our estates helps our children and grandkids to focus on what is actually essential rather than worrying about final expenses or outstanding debt.

Assurity

Assurity Life provides a wide range of life insurance policies, including disability and critical illness coverage. Its term life insurance are low-cost, with level premiums and a death benefit that is guaranteed. Assurity is a mutual firm that was founded in 1890, and its policyholders are its first focus.

North American

Life insurance products of North America are designed to help you meet your pension, mortgage and life insurance requirements. North American, a subsidiary of Sammons Financial Group Company, has approximately 600,000 life insurance and annuity contracts in force. The graph below depicts the typical rates for a 10-year, $100,000 term life insurance policy for people in their 70s.

Using Online insure quote, you can find the right business with the correct coverage for you faster. Simply enter a few basic details, such as your age and state of residence, and Online insure quote will generate a list of quotations from top life insurance companies for you to compare.

Are Arizona Life Insurance Companies Reliable?

Each state regulates life insurance in the United States. The Arizona Department of Insurance and Financial Institutions (DIFI) is in charge of establishing and implementing insurance principles and legislation in the state. They serve and safeguard consumers by investigating and assisting in the resolution of complaints against insurance companies, as well as ensuring insurers' solvency, among other functions.

For violations of Arizona insurance laws, the Arizona Department of Insurance issues administrative orders against insurers and insurance agents. They look into health insurance, vehicle insurance, annuities, and adjusters. They look into charges of insurance fraud, unfair practises, and other issues. The majority of states adhere to model laws issued by the National Association of Insurance Commissioners (NAIC).

The National Association of Insurance Commissioners

The NAIC draughts insurance model laws in order to ensure consistency in state insurance rules. It is a non-profit organisation composed of insurance commissioners from each state. The majority of states adhere to their model legislation. They collaborate to protect customers, educate state regulators, and improve the licencing of insurers and insurance producers.

If you are sceptical or hesitant to trust an insurance agent or life insurance business licenced to sell insurance in the state of Arizona, you can look up the agent's or firm's licence information at insurance.az.gov. In addition, click on “Enforcement Actions” to check if the company or agent has been disciplined.

The Arizona Department of Insurance's website offers advice on what to look for in a suspect insurance producer or company, as well as how to avoid scams. Unsolicited prices or offers, a lack of a real address, and dubious documents are all red flags. If you have a complaint about an insurer or agent, or if they have violated Arizona law, go to the DIFI's website and file a complaint.

Arizona Life Insurance Frequently Asked Questions

Is life insurance costly in Arizona?

The cost of life insurance is primarily determined by your age and health. Your premiums will be lower if you are younger and healthier.

How can I tell if a life insurance provider is legitimate?

The Arizona Department of Insurance and Financial Institutions has advice on what to watch for when dealing with dodgy businesses. Unsolicited calls and a lack of a real address are also red flags. Arizona DIFI can be found online, and the department is situated at 100 N. 15th Avenue, Suite 261 in Phoenix, Arizona, 85007.

What should I do if my insurer declares bankruptcy?

If your company goes bankrupt, the state of Arizona's Guaranty Funds will reimburse up to $300,000 in life insurance claims. Examine a company's ratings from independent rating firms to ensure its financial stability.

Conclusion

Life in Arizona should leave you with fond recollections of warm nights and desert sunsets. Giving you and your loved ones a life insurance policy to secure your business and possessions, as well as to cover any outstanding obligations, allows you to enjoy the best of the present without worrying about the future.

Allow Online insure quote to assist you in locating the best life insurance policy for you and those you care about. Online insure quote is a life insurance quote comparison tool that helps expedite your search and place you in the hands of the proper insurance company to meet your insurance needs.