Best Life Insurance Companies In Sacramento, CA

In my opinion, MassMutual is the top pick in Sacramento, but everyone’s situation is different and another company might be a better fit for you.

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Updated: 30 June 2024
Written by Bob Phillips
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If you’re from Sacramento, you’ve probably received a ton of emails, mail, and ads trying to sell you life insurance. And with so many companies claiming to be the best life insurer in the city, it can be tough to know who to trust. But don’t worry, I’m here to help!

The truth is, the best life insurance company for you will depend on a lot of things like your age, health, budget, and other personal factors.

So, in this article, we’re going to look at a variety of the best life insurance companies in Sacramento and weigh the pros and cons of each, including the types of policies they offer, customer ratings, and more. We’ll also discuss how much life insurance costs in the city.

If you’re reading this, chances are you care about taking care of your loved ones after you’re gone. Maybe you’re even interested in building up some cash value to help with retirement, education, or leaving a legacy.

Whatever your goals are, I’m here to help you find the best life insurance policy for you in Sacramento. With 15 years of experience selling life insurance and lots of research, I’ve got you covered.

Best Life Insurance Companies In Sacramento, CA 2024

Best Cheap Life Insurance - Transamerica
Best For Buying Online - Haven Life
Best For Seniors - Mutual of Omaha
Best Runner-Up - Nationwide
Best Life Insurance, Sacramento 2024

Compare The Best Life Insurance Companies In Sacramento, CA

When it comes to purchasing any product or service, including life insurance, comparison shopping is crucial. Yet, one of the most common mistakes people make when buying life insurance is not taking the time to compare different companies.

That's why I've put together this comparison chart based on my experience representing various life insurance providers in Sacramento, insights from friends who've represented others on this list, and extensive research.

It's designed to help you get started in the process of choosing the right insurance company that best suits your needs.

Best For Overall Rating A.M. Best Rating (Best: A++) Customer Satisfaction Ratings (Best: 1000) Online Experience Rating (Best: 10.0) Get A Quote
Haven Life

Online Experience





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Best Overall





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Second Place





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State Farm

Customer Service





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Mutual of Omaha






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Cheapest Term Insurance





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Our Methodology

To determine the ratings above, we took into account several key factors, such as the number of years the companies have been in business, the range of policies they offer, their financial stability, customer satisfaction ratings, and transparency of their websites.

In addition to these criteria, I also factored in my personal experience working with these companies. I have extensive experience with all of them except for Haven Life, so I was able to provide further insights into their strengths and weaknesses.


Quotes Analyzed


Years Of Industry Experience


Brands Reviewed


Research Hours

Reviews Of The Best Life Insurance Companies In Sacramento

Best Overall

Overall Rating

Key Statistics

8/10 Affordability
9/10 Customer Reviews
10/10 Claims/Payouts
10/10 Coverage Level

Why We Like Them

MassMutual, one of the largest life insurance companies in the U.S., was founded in 1851. It offers a wide range of life insurance products, from temporary term life insurance to investment-driven cash value accumulation policies like variable life insurance.

As a mutual company owned by policyholders, MassMutual pays out dividends on some of its permanent life insurance policies, a characteristic shared by many insurance companies with century-old roots.

MassMutual has earned an excellent reputation and is deserving of it. The company has the highest financial ratings, which indicates superior claims-paying ability. Additionally, according to J.D. Powers’ 2022 U.S. Individual Life Insurance Study, MassMutual ranked 9th overall for customer satisfaction.

MassMutual’s life insurance policies are sold through a career agent sales force, which means that agents are company employees. This structure provides a comprehensive product training program that benefits both policyholders and prospective clients.

The company is renowned for offering high coverage limits with its life insurance policies. Its term policies start at $100,000 and can go as high as $10 million, making it an ideal option for high-net-worth individuals and business clients.

While MassMutual may not be known for having the lowest premiums, its high overhead associated with maintaining a career agent sales force contributes to the company’s competitive pricing compared to other companies with career agents, such as New York Life and Northwestern Mutual Life.

Along with various life insurance policies, MassMutual also offers fixed and variable annuities that can be useful for generating a steady income stream. By depositing a lump sum, you can receive regular payments for the rest of your life.

Benefits & Drawbacks

  • Allows for convenient online claims filing, saving time and effort
  • Offers a comprehensive online breakdown of its policies, making it easy to understand options
  • Provides both term and permanent policy options, offering customers flexibility in their coverage
  • Online application for permanent policies is not available, which may be an inconvenience for some customers
  • Term policies are only offered online through a third party.

Runner-Up For Best Overall

Overall Rating

Key Statistics

9/10 Affordability
8/10 Customer Reviews
8/10 Claims/Payouts
9/10 Coverage Level

Why We Like Them

Located in Columbus, Ohio, Nationwide is a renowned financial services provider that has been in operation since 1925. It’s an excellent choice for those seeking life insurance coverage, and it’s also a close runner-up for being the best overall life insurance company in Sacramento.

Nationwide offers a wide range of life insurance products to meet your specific needs, such as term life, whole life, and universal life policies. The company has a sales force of expert agents that can help you select the right coverage, but it also partners with approved financial professionals who have been carefully vetted by the company.

Aside from individual life insurance policies, Nationwide caters to the business market by offering larger face amounts and annuities. It’s also a popular choice among seniors.

On Nationwide’s website, you’ll find an extensive array of insurance options, including long-term care and pet insurance. The site is user-friendly, and it provides detailed descriptions of the different types of policies available, which can help you make informed decisions about the coverage that suits you best.

Moreover, Nationwide offers bundle discounts to customers who combine their life insurance with auto and homeowners policies. This not only saves you money, but it also makes it easier to manage your policies with one company. By choosing Nationwide, you can protect your family and property with a reliable insurance provider that simplifies your life when paying premiums.

If you’re in Sacramento and thinking about buying life insurance for estate planning purposes, you might want to consider other sources of assistance aside from Nationwide agents. While the company’s agents are experts in property and casualty insurance, they tend to sell life insurance as an add-on to existing policyholders.

However, if you’re looking for a bundle discount that includes life insurance, Nationwide is an excellent option. Unlike some of its top competitors, such as Liberty Mutual, Nationwide does offer life insurance policies, making it a wise choice for those seeking bundled coverage.

Benefits & Drawbacks

  • Provides a range of life insurance options including term, whole, and universal life insurance
  • Competitive premiums that are worth exploring
  • Allows policyholders to customize their coverage with additional riders for added protection
  • Permanent policies are not available for online quotes or applications, which may be a hassle for some customers
  • Age restrictions apply for term insurance, as only those under 70 years of age are eligible

Best For Buying Online

Overall Rating

Key Statistics

9/10 Affordability
9/10 Customer Reviews
10/10 Claims/Payouts
8/10 Coverage Level

Why We Like Them

Haven Life, owned by MassMutual, is a newer player in the life insurance market, but it offers a compelling option for tech-savvy individuals who prefer to shop for insurance from the comfort of their homes in Sacramento.

Haven only offers term life insurance, but its Haven Term product, with a maximum death benefit of $3 million, is very competitive in terms of premiums and is considered one of the best term life insurance options available in Sacramento.

Haven makes the online application process simple and fast, with a streamlined application that takes less than 15 minutes to complete. Plus, all transactions with Haven Life are fully digital, from getting a quote to filing a claim. The website is user-friendly and easy to navigate.

One significant advantage of Haven Life is that it does not require a medical exam. Approval is based solely on the answers to medical questions, which are known for their fairness. This means no medical professionals will visit your home or office, making the process even more convenient.

For those in Sacramento who want to buy term life insurance online, Haven Life is a great option to consider. Owned by MassMutual, you can feel confident that your claim will be paid when the time comes.

Additionally, Haven Life’s customer service has received high ratings, making them a reliable choice.

Benefits & Drawbacks

  • No medical exam needed
  • Flexible terms ranging from 5 to 30 years
  • Coverage amounts from $25,000 to $3 million
  • No permanent life insurance option available
  • No mobile application available for easy access to your policy.

Best Cheap Life Insurance

Overall Rating

Key Statistics

10/10 Affordability
7/10 Customer Reviews
9/10 Claims/Payouts
10/10 Coverage Level

Why We Like Them

Transamerica Life Insurance offers some of the most affordable life insurance options in Sacramento. Their premiums are highly competitive, especially for younger adults, but remain affordable for all age ranges.

Transamerica exclusively sells its life insurance products through independent life insurance agents, or “brokers,” which helps to keep its premiums low. Unlike some other insurers, they don’t have a dedicated sales force.

Their flagship life insurance product is the Trendsetter Super Policy, which offers up to $10 million in term life protection. If you’re in excellent health and purchase this policy with a face amount of $2 million or less, you likely won’t be required to take a medical exam.

The Trendsetter Super Policy is a convertible term life policy, which means that during the conversion period specified in the policy, you can convert your coverage to a permanent life insurance policy.

This allows you to initially purchase a policy with a large face amount and low premium, then convert it to a whole or universal life insurance policy with a higher premium when your income increases.

Transamerica also offers life insurance to foreign nationals working in the United States. To qualify, you must be from one of the 47 qualifying countries and have a global net worth of at least $1 million.

If you’re looking for the most cost-effective option when it comes to life insurance in Sacramento, Transamerica should be at the top of your list. As someone who has sold Transamerica life insurance, I can attest to the ease of having policies issued and serviced without any issues.

Benefits & Drawbacks

  • Available through numerous independent agents
  • Offers the most affordable rates for term insurance
  • Has a robust ability to pay out claims
  • Products may not be thoroughly understood by independent agents
  • Higher-than-average amount of NAIC complaints reported

Best For Customer Service

Overall Rating

Key Statistics

8/10 Affordability
10/10 Customer Reviews
9/10 Claims/payouts
7/10 Coverage Level

Why We Like Them

In Sacramento, it’s hard to miss a State Farm office in almost every neighborhood. With their local agents, State Farm has built a reputation for being a reliable and helpful insurance provider, there for you “like a good neighbor” not only during the purchasing process but also for customer service needs.

Founded in 1922 as an auto insurance company, State Farm has since expanded to offer a variety of insurance products, including homeowners and renters insurance.

While State Farm may not be the first name that comes to mind for life insurance, their permanent life insurance policies, such as their whole life policy, are of high quality and should not be overlooked.

While their term life insurance rates may not be the most competitive, if you prefer to work with a local agent and don’t mind paying a little extra for that convenience, their rates are still reasonable.

With over 18,000 agents across the United States, as well as 343 claim offices and 30 operations centers, State Farm is committed to customer satisfaction. It’s no surprise they consistently rank highly on JD Power’s annual release of life insurers’ customer satisfaction levels.

As someone who has purchased life insurance from a State Farm agent in Sacramento, I can confirm that their service is exceptional and the buying experience is very convenient.

If you are willing to pay a slightly higher premium for the benefits of superior customer service and neighborhood convenience, then State Farm is definitely worth considering.

Benefits & Drawbacks

  • The option to convert term policies into permanent policies is available
  • Recognized for excellent customer satisfaction ratings
  • A multitude of offices located conveniently
  • Independent agents do not offer policies
  • Some policies may not be available for individuals over the age of 65.

Best For Seniors

Overall Rating

Key Statistics

8/10 Affordability
10/10 Customer Reviews
9/10 Claims/ Payouts
9/10 Coverage Level

Why We Like Them

Most seniors in Sacramento may have grown up or raised their children watching the “Mutual of Omaha’s Wild Kingdom” television show, making them very familiar with Omaha. Mutual of Omaha, located in Omaha, Nebraska, is an aptly named mutual insurance company owned by its policyholders. As an agent, trainer, and manager with the company for five years, I know it well.

While the company sells life insurance to people of all ages through its subsidiary, United of Omaha, it primarily targets Baby Boomers and their parents. In addition to life insurance for seniors, Mutual of Omaha is a popular provider of Medicare Supplement policies and travel insurance.

Mutual of Omaha offers a wide range of life insurance policies, including term, whole, and universal life insurance. Their prices for permanent insurance are on the higher end of the pricing spectrum, but still competitive.

For life insurance for seniors, Mutual of Omaha shines. The insurer is well-known for its “no medical exam” senior whole life insurance policy, available to people between the ages of 45-80.

The policy is marketed as “Final Expense Insurance,” but it is simply a whole life insurance policy with a smaller face amount. While a medical exam is not required, questions regarding medical history must be answered, and the policy’s issuance is not guaranteed.

If you’re a senior in Sacramento looking for smaller face amounts of life insurance (ranging from $5,000 to $25,000) with easy underwriting and application approval, you may want to consider Mutual of Omaha senior life.

Not only is it a well-known provider of senior life insurance, but it also ranks high in customer satisfaction, coming in third in J.D. Powers’ 2022 Life Insurance Survey.

Benefits & Drawbacks

  • Outstanding customer service ratings
  • Specializes in catering to senior's requirements
  • Has a robust financial position
  • No guaranteed issue policy offered
  • Term life insurance rates may be relatively high

How To Find The Best Life Insurance Company For You

Not all life insurance companies are created equal, as they each have their own specialties and target markets.

For instance, if you’re a 35-year-old looking for $1 million in term life insurance coverage, Mutual of Omaha may not be the best fit for you, but Transamerica or Haven Life might be more suitable.

On the other hand, if you prefer to work directly with an agent, a company like MassMutual or State Farm may be a better choice for you than insurers that rely on independent agents.

It takes time and effort to find the right life insurance company. Asking yourself these five key questions can help you narrow down your search:

  1. Are customers generally satisfied with the company according to online reviews?
  2. What is the company’s financial rating?
  3. Do I need assistance from a local agent to find the most suitable policy for my needs?
  4. Does the company offer the type of policy I’m interested in?
  5. Are the company’s rates competitive for my age bracket?

Answering these questions will enable you to make a wise decision that is tailored to your individual needs. Keep in mind that your circumstances are distinct to you, so the life insurance provider that is appropriate for you may not be the same as the one that worked for your parents or friends. The most important thing is ensuring that your family is safeguarded and will be financially secure in the long run.

Largest Life Insurance Companies In Sacramento

While market share is not always an indicator of the best life insurance company for you, some people do consider it when making their decision. If you fall into this category, here are the top life insurance companies in the Sacramento market based on their market share:

Rank Company Name California Market Share
1 New York Life 8.64%
2 Transamerica 7.00%
3 Northwestern Mutual 6.28%
4 MassMutual 5.00%
5 Prudential 4.77%
6 Lincoln National 4.16%
7 Met Life 4.02%
8 Pacific Life 3.61%
9 National Life 3.25%
10 John Hancock 2.91%

Being on this list doesn’t necessarily mean a company is the best choice for you. Sometimes, it just means that they have a larger advertising budget or more agents selling their policies in the Sacramento area than other insurers.

Average Cost Of Life Insurance In Sacramento

Average Monthly Life Insurance Rates For Men In Sacramento

Company Rates for $250,000 Death Benefit Rates for $1 Million Death Benefit
Nationwide $14 $26
MassMutual $10 $27
Transamerica $14 $25
Mutual of Omaha $17 $22
AAA $13 $31
State Farm $18 $36

Average Monthly Life Insurance Rates For Women In Sacramento

Company Rates for $250,000 Death Benefit Rates for $1 Million Death Benefit
Nationwide $10 $14
Mutual of Omaha $11 $16
MassMutual $13 $22
Progressive Life $15 $48
State Farm $20 $49
Prudential $21 $68

To figure out how much it might cost you to buy a life insurance policy, we collected quotes for 10-year term policies from several major insurance companies in Sacramento. We used statistics that represent an average buyer, including an average age of 30 and average weights of 179 pounds for males and 142 pounds for females..

Factors That Impact The Cost Of Your Life Insurance Policy In Sacramento

When it comes to determining the cost of life insurance, different companies have their own underwriting processes. However, there are certain factors that all insurers consider, such as:

  • Occupation
  • Policy face amount
  • Weight
  • Smoker/Nonsmoker
  • Age
  • Medical history
  • Gender
  • Hobbies
  • Height

Life insurance premiums are not determined based on your location.

California Life Insurance Laws To Know

As a resident of California, there are a few important features of California Life Insurance Laws that may impact your decision when enrolling in a life insurance policy. These include:

The “free look period”: This is the period in which a new policy owner can cancel the policy without penalty. In California, the free look period lasts for up to 10 days.

The grace period: This is the time frame in which a policyholder can pay a missing premium without penalty, and the insurance coverage remains active. In California, insurers are required to provide a minimum grace period of 60 days.

Time period for claim settlement: Once a life insurance company in California receives satisfactory proof of death, they are required to settle the payment within 30 days. Failure to make the payment within this time frame will result in interest on the unpaid amount.

Contestable period: This is the time frame in which an insurer can challenge potentially fraudulent or misrepresented claims on the coverage application. In California, life insurance policies become incontestable (except for non-payment of premiums) after a maximum of two years.


Is life insurance more expensive in California?

In California, life insurance is not more expensive compared to other states. This is because life insurance companies cannot charge different rates in different states, unlike other types of insurance such as home or auto insurance. This means that the cost of life insurance premiums in California is determined by the same factors as in other states, such as age, health, and lifestyle. So, if you are considering buying life insurance in California, you don’t have to worry about paying more simply because you live in the state.

Which company has the lowest life insurance rates in Sacramento?

Transamerica has been found to have the most affordable rates for both men and women across the board.

How much per month is a $1 million life insurance policy in Sacramento?

Based on the findings, a 30-year-old male can obtain a 10-year term life insurance policy worth $1 million for around $20 per month, while a female of the same age can expect to pay approximately $17 for the same coverage.

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