Best Life Insurance Companies In Scranton, PA

I would recommend Northwestern Mutual as the top life insurance company in Scranton.

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Updated: 12 July 2024
Written by Bob Phillips
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In a flash, I’d recommend Northwestern Mutual as the top life insurance company in Scranton. Securing your loved ones’ future is essential, and Northwestern Mutual is the way to go!

Sure, they might not have the absolute lowest rates, but their products are first-rate, backed by the biggest life insurance company in the US.

Let’s explore various life insurance types – whole, term, and guaranteed issue – and check out the average costs in Scranton. We’ll find the perfect policy for your needs, so your loved ones won’t face financial hardships down the road.

Trust me, I’ve been in the insurance game, and these insurers are top-notch. While they cater to different folks, they all offer financial stability and top-notch customer service.

Best Life Insurance Companies In Scranton, PA 2024

Best Life Insurance, Scranton 2024

Comparison Of The Best Life Insurance Companies In Scranton, PA

All set to explore the finest life insurance companies in Scranton? Check out this handy table with our top picks based on essential factors. Let's dive right in and find your perfect match!

A.M. Best Rating Best For Overall Rating J.D. Power Rating Online Experience Get A Quote
Penn Mutual

A+

Best Overall Runner-Up

4.8

Not Rated

9.6

Instant Quote
Northwestern Mutual

A++

Best Overall

4.9

794

9.5

Instant Quote
Transamerica

A+

Best For Young Adults

4.5

740

9.4

Instant Quote
MassMutual

A++

Best For Seniors

4.7

780

9.5

Instant Quote
Nationwide

A+

Best For Cheapest Life Insurance

4.8

791

9.6

Instant Quote
USAA

A++

Families

4.6

Not Rated

9.8

Instant Quote
Scroll to see comparisons

Our Methodology

We've got our own special way of doing things here! We look at what customers say about their service, the products they offer, their prices, and how easy their online stuff is. And you know what? My own experience selling life insurance and dealing with agents from other companies has really shaped my views and given me some valuable insights into their offerings and operations. It's the perfect recipe for a well-rounded review!

42

Quotes Analyzed

15+

Years Of Industry Experience

15

Brands Reviewed

28+

Research Hours

Reviews Of The Best Life Insurance Companies In Scranton


Best Overall

Overall Rating
4.9

Key Statistics

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

Why We Like Them

Let’s talk life insurance in the US – and who’s leading the pack? Northwestern Mutual takes the crown as the biggest seller, offering both term and permanent policies. But here’s the real kicker – their term insurance can switch to permanent without the headache of a medical exam!

In Scrantonh, Northwestern Mutual stands tall in the life insurance market, with the largest share among the big players. And it’s not just about fancy ads – they’re all about educating people on life insurance and helping them find the perfect policy.

Their agents are in it for the long haul, leading to a high policy retention rate and rock-solid financial stability. Talk about peace of mind! Plus, in 2023, they’re projected to pay out an incredible $6.8 billion in dividends to their qualifying policyholders. That’s some serious cash!

Here’s why Northwestern Mutual snagged the top spot – they’ve got a bunch of products to pick from. True, their premiums might be a bit higher than other top-notch life insurance companies, but here’s the deal – you can rely on them to keep your policy going for your whole life. That’s real peace of mind!

Benefits & Drawbacks

Benefits
  • State regulators receive only a limited number of complaints.
  • They provide a wide variety of products.
  • Exceptional ability to promptly pay claims.
Drawbacks
  • Rates are higher compared to most competitors.
  • Products can only be purchased through company agents.
  • No option to get quotes or apply online.

Best Overall Runner-Up

Overall Rating
4.8

Key Statistics

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

Why We Like Them

Just outside Scrantonh in Horsham, Pennsylvania, you’ll find Penn Mutual, one of the top ten life insurance companies in the city. They’ve got a strong share of the market and a rich history as an established life insurer – they really know how to pay dividends!

Financially, they’re rock-solid, and their ratings are top-notch. Offering high coverage no-exam life insurance and affordable term life policies, Penn Mutual knows how to take care of its customers.

What’s even more impressive is their low number of complaints – they’re in the top 15% of all life insurance companies! In 2022, they had only two customer complaints, and in 2021, just ten. That’s pretty darn good!

And here’s the real kicker – some of Penn Mutual’s policies don’t require a medical exam, and they go big – up to $7.5 million in face amounts! Plus, if you qualify, they can get you covered on the same day. Now that’s what I call a fantastic deal for no medical exam life insurance!

Penn Mutual comes in as the runner-up for Best Overall, and it’s no wonder they made the cut. This top-notch company hails from The Keystone State and knows how to pay dividends like a pro! They’ve been at it for a remarkable 174 years – now that’s staying power!

But right behind them is New York Life, coming in a close second with an impressive 169 years of life insurance dividend payments. These two are serious players in the dividend-paying game! They sure know how to keep their policyholders happy.

Benefits & Drawbacks

Benefits
  • They offer both term and permanent policy options.
  • Customer complaints are exceptionally low – a positive indicator!
  • They boast a solid track record of paying dividends.
Drawbacks
  • The website's information is somewhat limited, could benefit from more details.
  • Online quotes are not available – you'll need to contact an agent.
  • Purchasing the policy requires going through an agent.

Best For Seniors

Overall Rating
4.7

Key Statistics

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

Why We Like Them

Way back in 1851, MassMutual stepped up with a bunch of life insurance options – term, whole, and universal life. But here’s the cool part – their variable universal life insurance lets you play it flexi with your premiums and investments!

Trust me, MassMutual is a big name in the game, especially among seniors. They’ve got a strong reputation for financial stability, making them a top choice. And speaking of seniors, they often worry about smaller insurance companies not being able to pay up when it’s needed. But with MassMutual, no need to worry!

Now, let’s talk money. MassMutual’s premiums are super competitive, and that goes double for seniors in the Scrantonh market. They’ve got some great pricing, making them an awesome deal for seniors looking for life insurance. They really know how to take care of their customers!

Look no further, MassMutual takes the crown as the best life insurance company for seniors. Why? It’s a winning combo of low rates and top-notch security – just what older adults need.

Seniors want a life insurer they can trust, and MassMutual has the goods. They’ve got an A++ (Superior) rating from AM Best – the highest financial strength rating possible. And in J.D. Power’s 2022 U.S. Individual Life Insurance Study, they scored way above average in customer satisfaction.

Here’s the real deal – life insurance costs for seniors go up as they age. But MassMutual’s low rates are a real game-changer for retirees on fixed incomes. They know how to keep things affordable for the golden years! They’ve got seniors covered!

Benefits & Drawbacks

Benefits
  • For seniors in Scrantonh, they provide the lowest rates.
  • Financially, the company is rock-solid – offering great stability.
  • Their dedication to serving the senior market is a big plus!
Drawbacks
  • You can only buy their policies through MassMutual agents.
  • No guaranteed issue policy for seniors – could be a drawback.
  • Unfortunately, there's no option to purchase online.

Best For Young Adults

Overall Rating
4.5

Key Statistics

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

Why We Like Them

Check out Transamerica, a major player in Scrantonh’s life insurance scene. They’ve got a bunch of independent agents offering their policies – that’s solid coverage right there!

Here’s the scoop – Transamerica’s term life insurance is a real winner, especially for young adults. It’s super affordable, making it a smart choice for the younger crowd.

And let’s talk tech – they’ve got a smooth online experience for those who prefer to buy insurance online. They know young folks love going digital, so they’ve made it easy to get a quick quote on their website.

But here’s the cool part – if you want a more personal touch, Transamerica has you covered too. Just hit that “Locate an Agent” button, and you’ll find a local agent ready to help you pick the perfect policy for your needs.

All in all, Transamerica’s got your back with their focus on affordability and user-friendliness. If you need life insurance in Scrantonh, they’re a top-notch choice!

Transamerica knows what young folks in Scrantonh and the Northeast need – affordable life insurance! They’ve got just the thing to protect those young families – low-priced, high face amount term life insurance.

The best part? Younger people get lower rates since they’re seen as less risky by insurance companies for death claims. It’s a win-win for everyone!

Benefits & Drawbacks

Benefits
  • You've got the option to buy term life insurance right online – easy peasy!
  • Need a big policy? No worries – they offer face amounts up to $10 million.
  • If you qualify, you can get up to $2 million coverage without a medical exam.
Drawbacks
  • The minimum term life insurance face amount available is $25,000.
  • Their Final Expense Policy isn't guaranteed issue – keep that in mind.
  • Unfortunately, their J.D. Power customer satisfaction score is a bit low.

Best For Families

Overall Rating
4.6

Key Statistics

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

Why We Like Them

USAA’s got a reputation for serving military families, but guess what? They’re making an awesome exception with life insurance! Now, any U.S. citizen or permanent resident can get in on the action – no military connection required! Just meet some criteria like age, health, lifestyle, and sometimes a medical exam.

And let’s talk financial strength – they’re top-notch with an impressive A+ rating from A.M. Best. So, you can trust them to pay claims smoothly.

Now, here’s the thing – while USAA’s life insurance is open to all, their other products are exclusive to military families. That might be a bummer for non-military folks who want to keep everything under one roof.

But don’t worry, they’ve got your back with a team called “Survivor Relations” that’s all about helping beneficiaries with claims across all their USAA accounts and policies. Solid support, right?

Oh, and if you’re in Scrantonh, here’s a bonus – they’ve got a no-medical-exam policy, thanks to Mutual of Omaha. Talk about convenience!

USAA nails it as Best for Families, and here’s the scoop – they’re now available to all U.S. families, and their rates are super sweet. Their commitment to supporting families through tough times is just what the life insurance world needs.

Benefits & Drawbacks

Benefits
  • Non-military citizens and permanent residents can get life insurance – no exclusions!
  • They offer a wide array of life insurance products, from term to whole and universal life.
  • For some term life policies, no exam required – easy peasy!
Drawbacks
  • They might not have as many term life plans compared to competitors.
  • Unfortunately, non-military families can't access their auto and home insurance.
  • Essential Term is only available to folks between 21 to 35 years old – keep that in mind!

Best For Cheapest Life Insurance

Overall Rating
4.8

Key Statistics

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

Why We Like Them

Searching for affordable life insurance in Scranton? Look no further than Nationwide – they’ve got you covered! With rock-bottom rates, they offer some of the best deals around.

What’s on the menu? Term and permanent policies galore! Whole life, universal life, and even variable universal life insurance. Plus, they’ve got a hassle-free no-exam option if you prefer.

Service is top-notch too! Nationwide’s skilled agents are ready to give you great pricing and excellent support. Finding a local agent is easy with neighborhood offices all over Scranton.

And guess what? They’ve got stellar financial ratings and super happy customers, making them a top player in the life insurance game. Nationwide – a household name across America!

Nationwide takes the crown for Best for Cheap Life Insurance, and they’ve earned it! Their premiums are the lowest in Scranton, and that’s impressive.

Now, don’t be fooled by cheap prices, because with Nationwide, you get top-notch quality too. No need to compromise – they’ve got the best service at a great price.

Benefits & Drawbacks

Benefits
  • Nationwide's got a massive team of skilled agents, so you'll have plenty of help obtaining their policies.
  • They offer a plethora of life insurance products – you won't be short on options.
  • And here's the cherry on top – they've got the best rates in Scrantonh!
Drawbacks
  • Keep in mind, for term life, you've gotta be 70 or younger to apply.
  • Regrettably, there's no option to obtain online quotes or apply for their permanent products.

How To Find The Best Life Insurance Company For You

When looking for insurance companies, remember they all have something special for you. So, find the best fit based on your situation.

For example, if you’re 25 and need $250,000 whole life insurance, try Transamerica. But if you’re 65, MassMutual might be better.

Want online convenience? Consider companies like Haven Life with no agents.

Ask yourself these questions:

  1. How’s their financial rating?
  2. Do they offer the policy you need?
  3. Agent or online?
  4. Are rates competitive for your age?
  5. Are online reviews positive?

Remember, your needs are unique, so find the perfect match for you!

Largest Life Insurance Companies In Scranton, PA

Scranton has a thriving life insurance market with plenty of options! Here are the top five giants, ranked by market share:

Company Market Share
Northwestern Mutual 7.49%
Prudential 6.61%
Metropolitan 6.32%
New York Life 6.31
MassMutual 6.29%

Average Cost Of Life Insurance In Scranton, PA

Best Cheap Life Insurance Companies In Scranton For Males

Company Rates for $250,000 Coverage Rates for $926,000 Coverage (Recommended)
MassMutual $11 $19
Prudential Life $20 $54
Mutual of Omaha $12 $21
Progressive Life $26 $50
Nationwide $12 $18
Transamerica $15 $30
State Farm $23 $32

Best Cheap Life Insurance Companies In Scranton For Females

Company Rates for $250,000 Coverage Rates for $926,000 Coverage (Recommended)
MassMutual $10 $16
Transamerica $13 $20
State Farm $17 $34
Nationwide $12 $16
Mutual of Omaha $13 $19
AAA $15 $32

Best Life Insurance Companies For Young People In Scranton, PA

(Male, average age of 25, average weight of 158, average coverage need of $280,00,000)

Company Rates for $310,000 Coverage
MassMutual $17
AAA $24
Progressive Life $22
Prudential $21
Mutual of Omaha $19
Transamerica $16

Best Life Insurance Companies For Seniors In Scranton, PA

(Average age 60, average weight of 186, average coverage need of $85,000)

Company Rates for $93,000 Coverage
Nationwide $45
State Farm $51
Mutual of Omaha $43
Progressive Life $68
MassMutual $43

Factors That Impact The Cost Of Life Insurance In Scranton

Ah, let’s dive into the world of life insurance costs in Scranton! Here are the key factors to consider:

The insurance company: Rates vary between companies.

Gender: Men usually pay more due to shorter life expectancies. Pre-existing conditions can also impact rates.

Smoker or Nonsmoker: Smokers pay more because of shorter lifespans.

Credit Score: Your credit score affects your rate.

Riders: Additional features like disability waiver or child rider can increase the policy cost.

Pennsylvania Life Insurance Laws To Know

Pennsylvania’s got some cool regulations to safeguard you in the world of life insurance – here’s the scoop:

Contestable Period: The first two years after your policy starts, the insurance company can deny claims if they find any funny business on your application.

Free Look Period: You’ve got ten days to check out your policy and get a full refund if you’re not satisfied.

Surrender Penalties: If you’re buying insurance, they must be upfront about any charges for cashing out early.

In The News

WHTM News in Pennsylvania reported on September 29, 2022, that state officials are making sure you know how crucial life insurance is.

When someone you love passes away, it can be really tough – emotionally and mentally. But guess what? Life insurance comes to the rescue, providing that much-needed financial stability during those rough times.

And here’s the real deal – Johnathan Greer, the President and CEO of the Insurance Federation of Pennsylvania, knows firsthand how life insurance can be a real lifeline when you need it most. He’s got personal experience to back it up!

Information About Scranton

Scranton – the Electric City! This lively city in northeastern Pennsylvania has a fascinating history tied to its electric streetcar system, earning it the nickname “Electric City.”

Today, Scranton is known for its charming attractions and landmarks. The Steamtown National Historic Site, a railroad museum, showcases the city’s rich railroad heritage. Visitors can explore the Electric City Trolley Museum, which celebrates the city’s electric trolley history.

Sports enthusiasts in Scranton cheer on their beloved minor league baseball team, the Scranton/Wilkes-Barre RailRiders. And when it comes to culture, the city has an array of cultural institutions, like the Everhart Museum and the Lackawanna Coal Mine Tour, giving visitors a glimpse into the region’s coal mining past.

Scranton is also home to several colleges and universities, including the University of Scranton and Marywood University, contributing to its reputation as an educational center in the region. With its blend of history, culture, and education, Scranton offers a unique and vibrant experience for residents and visitors alike.

FAQs

Is life insurance more expensive in Scranton?

In the realm of life insurance in Scranton, the prices are quite similar to other locations. But what exactly determines these costs? It narrows down to some essential factors: your age, health record, height, weight, and smoking habits.

How much per month is a million dollar life insurance policy in Scranton?

If you’re in Scranton and looking for a million dollar life insurance policy, you might find it at around $18 per month. Just remember, the cost could differ based on whether you’re a male or female.

What is the average monthly cost of life insurance in Scranton?

In Scranton, the average cost for a 10-year term life policy is approximately $18 per month. Now, that’s a sweet deal to ensure your loved ones’ future!

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