Best Life Insurance Companies in San Diego, CA, for 2023

MassMutual is a well-established life insurance provider in the United States, with a history dating back to 1851. San Diego residents can take advantage of the extensive range of life insurance products the company offers, from temporary life insurance to permanent variable life insurance that includes investment-driven cash value accumulation.

Being a mutual company, MassMutual is partially owned by policyholders and pays out dividends on some of its permanent life insurance policies, similar to other century-old life insurance companies.

MassMutual has a superb reputation backed by the highest possible financial ratings, which shows its superior ability to pay out claims. The 2022 U.S. Individual Life Insurance Study by J.D. Power ranked MassMutual 9th overall for customer satisfaction.

In San Diego, MassMutual’s life policies are marketed by a sales force of career agents who are employees of the company. This approach guarantees that agents undergo thorough product training, which ultimately benefits both policyholders and potential clients.

The company is known for offering high insurance coverage limits with its life insurance policies, making it advantageous for high-net-worth individuals and business clients in San Diego. Term policies start at $100,000 and can go up to $10 million.

While MassMutual’s premiums may not be the lowest, they are competitive compared to other companies with career agents such as New York Life and Northwestern Mutual Life. The high overhead associated with maintaining a career agent sales force may cause MassMutual’s premiums to be more expensive than those of other insurers that sell policies through independent life insurance agents.

MassMutual, a top life insurance company in San Diego, provides a comprehensive range of life insurance policies, including term life insurance and permanent life insurance with cash value accumulation. Beyond life insurance, the company also offers fixed and variable annuities, which can provide a lifetime income stream with a one-time deposit.

Dating back to 1925, Nationwide is a global financial services company headquartered in Columbus, Ohio, that provides a wide range of insurance products, including life insurance, health insurance, annuities, and more. In San Diego, Nationwide is a top provider of life insurance that cater to diverse needs and budgets.

Nationwide offers various life insurance policies, including term life insurance, whole life insurance, and universal life insurance, to ensure customers have a comprehensive range of choices. The company sells its life insurance policies through its insurance agent sales force and approved financial professionals who undergo rigorous vetting by the company.

Nationwide is also a popular choice for seniors in San Diego, thanks to its larger face amounts and annuities for businesses. The company’s website features a user-friendly interface that offers detailed product descriptions, making it easy for customers to make informed decisions. In addition to life insurance, Nationwide also offers other insurance products, such as long-term care and pet insurance.

Nationwide’s life insurance policies come with a unique bundle discount that can reduce premiums for customers who combine their life insurance policies with auto and homeowners insurance policies. This bundling not only simplifies premium payments but also provides comprehensive protection for families and properties with one company.

If you’re seeking life insurance for estate planning purposes in San Diego, Nationwide might not be your top choice. The company primarily focuses on selling property and casualty insurance through their agents and tends to promote life insurance as an add-on to existing policyholders. However, if you’re interested in bundling your life insurance with other policies, such as auto or home insurance, Nationwide is a solid option. Compared to Liberty Mutual and other competitors, Nationwide stands out for including life insurance in their bundle discounts.

Mutual of Omaha is a well-known name among seniors in San Diego, thanks to its reputation for offering quality life insurance products tailored to the needs of Baby Boomers and their parents. As a former agent, trainer, and manager at the company, I can attest to its commitment to providing excellent service to its policyholders.

While Mutual of Omaha’s subsidiary, United of Omaha, offers life insurance to people of all ages, the company’s focus on serving seniors is what sets it apart. Their Medicare Supplement policies are popular among seniors, and their travel insurance kiosks can often be found at San Diego airports.

Mutual of Omaha offers a range of life insurance options, including term life insurance, whole life insurance, and universal life insurance. While their permanent insurance rates may be on the higher side, they remain competitive. However, their strongest offerings are in the senior life insurance market. In San Diego, they offer a “Final Expense Insurance” policy marketed to people between 45 and 80, which does not require a medical exam but does ask questions about medical history. While the policy is not guaranteed to be issued, it provides a valuable option for seniors seeking affordable insurance coverage.

For seniors looking for life insurance policies with smaller face amounts and an easy application process in San Diego, Mutual of Omaha Senior Life is a great choice. With face amounts ranging from $5,000 to $25,000 and lenient underwriting, the company’s “Final Expense Insurance” policy is a popular option for those seeking coverage. Additionally, Mutual of Omaha’s customer service has received high praise and ranked third in J.D. Power’s 2022 Life Insurance Survey, ensuring that seniors can trust the company to meet their needs.

Consider Transamerica Life Insurance when looking for affordable life insurance in San Diego. This company is well-known for its competitive premiums, making life insurance policies accessible to individuals of all ages, including younger adults. Unlike other providers, Transamerica solely relies on independent life insurance agents or brokers to sell its policies, allowing the company to keep its premiums low while providing high-quality service.

Transamerica’s Trendsetter Super Policy is a popular choice, offering up to $10 million in term life protection. If your policy’s face amount is $2 million or below and you are in excellent health, you may not need to undergo a medical exam to purchase this policy.

The Trendsetter Super Policy is a convertible term life insurance policy, giving you the flexibility to convert your coverage to a permanent life insurance policy during the conversion period specified in the policy. This feature enables you to start with a large face amount and low premium and then convert it to a whole life insurance 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 be eligible for this coverage, you must have a global net worth of at least $1 million and citizenship from one of the 47 qualifying countries.

When it comes to affordable life insurance options in San Diego, Transamerica is a great choice. With its reputation for competitive premiums and customer-friendly policies, Transamerica makes the process of purchasing life insurance a breeze. As a former Transamerica agent myself, I can attest to the company’s commitment to providing a seamless and hassle-free experience for its customers.

State Farm is a well-known insurance provider in San Diego, with offices scattered throughout the city. The company was established in 1922, with a primary focus on auto insurance, and has since expanded to offer a variety of insurance products, including homeowners and renters insurance.

Although State Farm is not particularly recognized for its life insurance products, its permanent life insurance policies, such as whole life insurance, are of excellent quality and shouldn’t be overlooked. While their term life insurance rates may not be the most affordable, working with a local agent can offer added value.

With over 18,000 agents across the United States, including San Diego, State Farm is dedicated to providing excellent customer service. The company has 343 claim offices and 30 operations centers, demonstrating its commitment to customer satisfaction. This is evident in their consistent ranking as one of the top life insurers in JD Power’s annual customer satisfaction survey.

I recently purchased life insurance from a local State Farm insurance agent in San Diego, and I must say their service was exceptional, and the buying process was convenient. If you are someone who values convenience and outstanding customer service and is willing to pay a little extra for it, State Farm insurance would be an excellent option for life insurance in San Diego. Their vast network of agents and claim offices reflects the company’s dedication to serving its clients, and their permanent life insurance policies are of top-notch quality.

Owned by MassMutual, Haven Life is a pretty new insurance provider in San Diego that exclusively offers term life insurance policies. If you prefer a fully digital process for purchasing life insurance in San Diego, Haven Life is an excellent option. Their primary product is Haven Term, which provides a maximum death benefit of $3 million and competitive premiums.

Haven Life stands out for its hassle-free process that can be completed entirely online. You only need to provide basic personal information, select your desired coverage amount, and answer some medical questions to complete the streamlined application in under 15 minutes. From getting a quote to filing a death claim, everything can be done online, and the website is user-friendly with clear instructions.

One of the benefits of Haven Life is that there’s no need to undergo a medical exam or meet with a paramedical professional in person. Instead, approval is based solely on your answers to medical questions, and the underwriting process is known for being fair. If you’re tech-savvy and looking for a hassle-free way to purchase term life insurance in San Diego, Haven Life is an excellent option to consider.

Haven Life is a no brainer for those seeking a fully digital, streamlined process when purchasing term life insurance. As a subsidiary of MassMutual, you can have peace of mind knowing that your claims will be paid, and their customer service has received high ratings.