Best Life Insurance in Oregon for 2025 (Your Guide to the Top 10 Companies)
State Farm, Prudential, and New York Life deliver the best life insurance in Oregon. The cheapest term life rates in Oregon start at $33 per month.
State Farm offers a 17% bundling discount and superior customer service. Prudential boasts an A+ financial strength rating and workplace benefits, while New York Life excels in wealth transfer and long-term planning.
| Company | Rank | Bundling Discount | A.M. Best | Best For | Jump to Pros/Cons |
|---|---|---|---|---|---|
 |
#1 | 17% | B | Customer Service | State Farm |
 |
#2 | 8% | A+ | Financial Strength | Prudential |
 |
#3 | 12% | A++ | Long-Term Planning | New York Life |
 |
#4 | 9% | A++ | Dividends, Whole Life | Northwestern Mutual |
 |
#5 | 6% | A+ | Retirement Planning | Lincoln Financial |
 |
#6 | 4% | A+ | Affordable Term | Banner Life |
 |
#7 | 7% | A++ | Permanent Life | MassMutual |
 |
#8 | 11% | A+ | Comprehensive Coverage | Pacific Life |
 |
#9 | 3% | A+ | Senior Policies | Mutual of Omaha |
 |
#10 | 20% | A+ | Variety of Options | Nationwide |
Discover which of the best life insurance companies best suits your requirements. Compare these top providers to local insurance companies near you using our free comparison tool.
What You Should Know
- The best life insurance companies in Oregon offer tailored options starting at just $33 monthly
- State Farm leads with a 17% bundling discount and standout customer service
- Providers like Prudential and New York Life excel in financial strength and flexibility
#1 – State Farm: Top Overall Pick
Pros
- Bundling Benefits: Provides a 17% discount on life insurance in Oregon. To find out more, explore our State Farm review.
- Client-Focused: Known for dependable and timely life insurance help in Oregon.
- Budget-Friendly Plans: Term policies start at $33 per month, making for cheap life insurance in Oregon.
Cons
- Limited Variety of Coverage: Oregon has fewer State Farm life insurance plan alternatives than other states.
- Modest Financial Rating: A.M. Best gives it a B rating, which is not as high as many life insurance competitors in Oregon.
#2 – Prudential: Best for Financial Strength
Pros
- A+ Financial Rating: Exceptional stability ensures secure life insurance claims in Oregon.
- Flexible Term Conversion: Allows term policies to be easily upgraded to whole life insurance in Oregon.
- Workplace Discounts: Unique savings for business owners who offer Oregon life insurance to employees.
Cons
- Higher Monthly Rates: Premiums are not as competitive as some life insurance providers in Oregon.
- Restricted Add-Ons: Fewer policy enhancements are available for life insurance in Oregon. Learn more in our Prudential review.
#3 – New York Life: Best for Long-Term Planning
Pros
- Wealth Management Focus: Specializes in estate planning and life insurance in Oregon.
- Financial Security: Holds an A++ rating, the highest for long-term reliability.
- Tailored Coverage: Offers highly flexible policy options for varying needs in Oregon. Explore the steps to buy life insurance for someone else.
Cons
- Expensive Premiums: Costs are higher than other life insurance providers in Oregon.
- Complex Plans: Extensive policy features may overwhelm first-time buyers.
#4 – Northwestern Mutual: Best for Dividends and Whole Life
Pros
- Dividend Payments: Regular payouts add value to Oregon whole life insurance policies.
- Loyalty Benefits: Discounts for long-term policyholders in Oregon. Find out how insurance companies make money from premiums and policyholder behavior.
- Top-Tier Strength: An A++ financial rating ensures unmatched stability for life insurance beneficiaries in Oregon.
Cons
- Whole Life Premiums Expensive: Whole life insurance premiums in Oregon are some of the most costly.
- Limited Term Life Offerings: There are few options for those seeking term life insurance in Oregon.
#5 – Lincoln Financial: Best for Retirement Planning
Pros
- Retirement-Oriented Policies: Find out how modified life insurance adapts to changing financial goals.
- Incentives for Wellness: Discounts for maintaining healthy habits in Oregon.
- Financially Strong: Holds an A+ rating for secure life insurance in Oregon.
Cons
- Narrow Focus: Heavily geared toward retirement, limiting broader policy appeal in Oregon.
- Fewer Discounts: Limited bundling or loyalty programs compared to other Oregon life insurance companies.
#6 – Banner Life: Best for Affordable Term
Pros
- Cost-effective: With monthly premiums as low as $33, this term life insurance policy is among the cheapest in Oregon.
- Rapid Approvals: In Oregon, quicker coverage is guaranteed by the simplified application procedure.
- Conversion Benefits: Easily converts term insurance into permanent alternatives in Oregon. If you’ve asked yourself, do I need life insurance, find the answer here.
Cons
- Limited Permanent Options: Mainly concentrated on term life, with limited options for permanent coverage.
- Few Riders: Compared to other Oregon providers, there aren't many possibilities for improving the policy.
#7 – MassMutual: Best for Permanent Life
Pros
- In-depth Legacy Planning: Provides substantial estate and wealth transfer options in Oregon.
- Flexible Payment Plans: Oregon permanent life insurance with adjustable premiums.
- Superb Stability: Trust in Oregon life insurance coverage is guaranteed by an A++ A.M. Best rating. Find out which type of life insurance policy generates immediate cash value for instant financial flexibility.
Cons
- Strict Underwriting: More stringent approval process for life insurance in Oregon.
- High Costs: MassMutual permanent life insurance in Oregon has above-average rates.
#8 – Pacific Life: Best for Comprehensive Coverage
Pros
- Broad Policy Range: Extensive options covering various life insurance in Oregon needs.
- Estate Tools: Advanced planning options for asset management in Oregon.
- Discounts by Age: Reduced premiums for younger applicants in Oregon. Find everything you need to know about applying for life insurance and choose the right plan confidently.
Cons
- Limited Customer Interaction: Service channels are not as user-friendly as competitors in Oregon.
- High Policy Costs: Premiums increase significantly for broader coverage options.
#9 – Mutual of Omaha: Best for Senior Policies
Pros
- Simplified Approvals: Easy underwriting process for seniors seeking life insurance in Oregon.
- No-Lapse Features: Policies guarantee coverage continuity for Oregon residents.
- Age-Based Savings: Specialized discounts for senior applicants in Oregon. See how a limited-pay life insurance policy provides flexibility for coverage.
Cons
- Few Options for Younger Buyers: Focused mainly on senior life insurance in Oregon.
- Costlier Comprehensive Policies: Broader life insurance in Oregon coverage has higher rates.
#10 – Nationwide: Best for Variety of Options
Pros
- Extensive Policy Choices: Offers diverse life insurance in Oregon plans for all ages.
- Wellness Benefits: Rewards programs for healthy lifestyle habits in Oregon. To learn more, explore our Nationwide insurance review.
- Multi-Product Discounts: Significant savings for bundling multiple policies in Oregon.
Cons
- Expensive Premiums: Rates are higher than several competitors in Oregon.
- Complicated Policy Terms: Policy details may require professional advice to understand.
Comparing Monthly Premiums for Term and Whole Policies in Oregon
For those wondering how much life insurance costs, companies such as State Farm, Prudential, and New York Life provide unique advantages suited to the requirements of policyholders. If affordable term policies are your goal, Banner Life leads with cheap term life insurance rates starting at $33 per month.
| Insurance Company | Term Policy | Whole Policy |
|---|---|---|
|
$33 | $230 |
|
$38 | $250 |
|
$45 | $265 |
|
$39 | $225 |
 |
$42 | $255 |
|
$48 | $275 |
|
$53 | $310 |
|
$39 | $240 |
|
$43 | $210 |
|
$38 | $225 |
For whole life insurance, Prudential offers a great balance of cost and reliability, with prices beginning at $210 per month and backed by an A+ financial strength rating.
State Farm and Mutual of Omaha provide solid value, offering whole policies at $225 per month with flexible features and excellent customer service. With plans starting at $275 per month, New York Life is a leader in asset transfer and estate solutions if you're interested in long-term planning.
Maximizing Savings on Oregon Life Insurance
In Oregon, some of the benefits of buying life insurance are complete protection and the chance for substantial savings via different discounts. Non-smokers can enjoy up to 15% savings across providers like Banner Life, MassMutual, and Pacific Life, while those prioritizing a healthy lifestyle can receive a 12% discount.
| Insurance Company | Available Discounts |
|---|---|
|
Healthy Lifestyle, Family Coverage, Accelerated Underwriting, Term Conversion, Preferred Plus Rates |
|
Multi-Policy, No-Smoker, Employer-Based Discounts, Good Health, Wellness Incentives |
|
Annual Payment, Loyalty, High-Coverage Amounts, Disability Waiver, Legacy Planning |
|
Preferred Health, Age-Based Discounts, No-Lapse Options, Simplified Underwriting, Flexible Premiums |
|
Wellness, Multi-Product, Early Sign-Up, Family Add-Ons, Healthy Habits |
|
Long-Term, Group Discounts, Bundled Financial Products, Wealth Transfer, Flexible Coverage |
|
Loyalty, Preferred Risk, Large-Policy Discounts, Family Continuity, Annual Payment |
|
Preferred Risk, Age-Based Discounts, Healthy Habits, Loyalty Rewards, Estate Planning Options |
|
Workplace Benefits, Financial Planning Packages, Healthy Lifestyle, Multi-Policy, Term Conversion |
|
Good Neighbor, Multi-Line, Safe Policyholder, Loyalty, Accident-Free History |
To lower the cost of life insurance in Oregon, keeping good health is essential — discounts are given to those who do not smoke and live healthy lifestyles. Extra savings can be achieved by combining several policies like life and auto insurance from one provider.
Each company also adds unique perks: State Farm offers multi-line discounts and loyalty rewards for safe policyholders, Prudential provides term conversion options and financial planning packages, and New York Life specializes in group plan discounts and bundled financial products.
| Discount Name | Grade | Savings | Participating Providers |
|---|---|---|---|
| Non-Smoker | A+ | 25% | New York Life, State Farm, Mutual of Omaha |
| Military | A | 25% | Prudential, MassMutual, Nationwide |
| Bundling | A | 20% | State Farm, Nationwide, Lincoln Financial |
| Good Health | A- | 15% | Prudential, MassMutual, Mutual of Omaha |
| Retirement Planning | B+ | 15% | Northwestern Mutual, Lincoln Financial |
| Family Bundle | B+ | 12% | New York Life, Northwestern Mutual |
| Claims-Free | B | 10% | Lincoln Financial, Banner Life, Pacific Life |
| Long-Term Policy | B | 10% | Banner Life, Pacific Life, State Farm |
Keep a good lifestyle and use the discounts offered by top providers to get significant savings on Oregon life insurance. Consider bundling multiple policies with the same Oregon insurance company to get one of the biggest discounts of 20%.
Key Factors in Oregon Life Insurance Claims
Life insurance classifications in Oregon are influenced by the number and type of claims. Natural causes comprise the most significant chunk at 40%, with an average cost of $50,000 per claim. Accidental deaths come next at 30%, costing around $75,000 each.
| Claim Type | Portion of Claims | Cost per Claim |
|---|---|---|
| Natural Causes | 40% | $50,000 |
| Accidental Death | 30% | $75,000 |
| Suicide | 15% | $100,000 |
| Homicide | 10% | $60,000 |
| Other | 5% | $45,000 |
Oregon handles about 15,000 life insurance claims each year, and 2,500 of those are from accidents. On average, claims come out to $150,000, which shows how much they can add up.
| Factor | Value |
|---|---|
| Total Accidents Per Year | 2,500 life insurance claims annually |
| Total Claims Per Year | 15,000 claims annually in Oregon |
| Average Claim Size | $150,000 per claim |
| Percentage of Uninsured Drivers | 13% of Oregon residents lack life insurance |
| Weather-Related Incidents | Impacts life insurance for outdoor jobs |
Surprisingly, 13% of people in Oregon don’t have life insurance, leaving them unprotected. Weather-related accidents are another critical consideration for outdoor workers.
Due to local risk factors and population density, life insurance claims in Oregon differ significantly by city. Portland is a hub for insurance business, with 1,200 incidents and 3,500 claims annually.
| City | Accidents per Year | Claims per Year |
|---|---|---|
| Albany | 80 | 250 |
| Beaverton | 100 | 350 |
| Bend | 200 | 600 |
| Corvallis | 90 | 300 |
| Eugene | 400 | 1,200 |
| Gresham | 180 | 550 |
| Hillsboro | 130 | 400 |
| Medford | 150 | 500 |
| Portland | 1,200 | 3,500 |
| Salem | 350 | 1,000 |
Smaller communities like Albany and Corvallis experience fewer incidences. The more significant claim volumes in larger cities like Eugene and Salem show the necessity of customized coverage in metropolitan settings.
Top Picks for Life Insurance in Oregon
This ultimate life insurance guide for Oregon highlights the best coverage options to match your needs and budget. State Farm, Prudential, and New York Life provide the best life insurance in Oregon.
State Farm is a cost-effective option with a 17% bundling discount. New York Life is a leader in asset transfer with estate planning tools, and Prudential distinguishes out with an A+ financial strength rating, guaranteeing long-term dependability.
Getting the proper coverage is essential for financial stability because 13% of Oregonians are uninsured, and 15,000 life insurance claims are filed yearly. Residents can obtain the most economical, customized policy by comparing provider quotes and looking into discounts such as 25% for non-smokers.
Enter your ZIP code to find affordable life insurance no matter where you live.
Frequently Asked Questions
Who is the most trusted life insurance company in Oregon?
State Farm, Prudential, and New York Life are the most trusted life insurance companies due to their financial strength and customer satisfaction.
Which Oregon health plan is best?
Oregon Health Plan (OHP) is highly rated for affordability and accessibility, especially for low-income residents.
What type of life insurance in Oregon is the best to get?
When considering term vs. whole life insurance, term life insurance is a more economical choice for short-term needs because it provides protection for a set period of time. Protect yourself for the rest of your life with whole life insurance, which not only pays a benefit but also grows in value as you age.
Is life insurance cheaper in Oregon?
Due to state regulations and provider competition, Oregon generally offers lower insurance rates than the national average.
What are the three main types of life insurance in Oregon?
Each of the three most common forms of life insurance — term, whole, and universal — offers a unique combination of protections and payment terms.
Which private life insurance in Oregon is best?
Due to their comprehensive policies and financial reliability, New York Life, Prudential, and Northwestern Mutual are among the top private life insurance providers. They ensure policyholders receive robust protection tailored to their specific needs and long-term goals.
Can I have more than one life insurance policy in Oregon?
Indeed, you can have more than one life insurance policy in Oregon, including whole life and term plans, to satisfy different coverage requirements. Many policies also include a non-forfeiture option, allowing you to retain some benefits if you discontinue premium payments.
What doesn't life insurance in Oregon cover?
Life insurance in Oregon typically excludes coverage for fraud, self-inflicted injuries, and deaths related to criminal activities.
What is the largest healthcare provider in Oregon?
Providence Health & Services is the largest healthcare provider in Oregon, offering extensive hospital and clinic networks.
How expensive is life insurance in Oregon?
Life insurance in Oregon varies in cost, with term policies starting at $33 per month and whole life policies averaging $210 to $310 per month, depending on the provider and coverage.
How much is health insurance in Oregon monthly?
For eligible citizens, subsidies can drastically lower the average monthly cost of health insurance in Oregon by about $450. To find affordable health insurance, explore available subsidies, compare plans from multiple providers, and consider options like the Oregon Health Plan for low-income households.
Which Oregon life insurance is best, term or permanent?
Term life insurance is best for affordability and short-term needs, while permanent life insurance is ideal for lifelong coverage and cash-value benefits.
What is the life insurance in Oregon that pays you back?
Return-of-premium life insurance reimburses your paid premiums if you outlive the policy term.
How do you choose the best life insurance in Oregon for you?
To choose the best life insurance in Oregon, compare rates, coverage options, and financial ratings from providers like State Farm, Prudential, and New York Life. Enter your ZIP code to find the best Oregon life insurance company near you.
Which Oregon life insurance can you borrow from?
You can borrow from whole-life or universal insurance policies with accrued cash value. Policies with an automatic premium loan provision can also use the accumulated cash value to pay missed premiums, ensuring the policy remains active without lapses.
What is the minimum life insurance required in Oregon?
There is no minimum life insurance required in Oregon, as life insurance is not mandated by law. However, policies with features like a non-forfeiture option can provide valuable financial security for your beneficiaries.
What life insurance company in Oregon pays the most claims?
State Farm is a top choice for life insurance in Oregon, recognized for its reliable claim payouts and customer service. Learn when your insurance company will pay your claim.
Do you get your money back if you cancel your life insurance in Oregon?
That depends on your policy and provider. Most term life insurance policies do not refund policyholders unless you buy a return of premium rider. Find out how to cancel insurance with your insurer to save the most money.
What is the cash value of a $250,000 life insurance policy in Oregon?
Depending on the provider, policy type, and premium payments, a $250,000 life insurance policy's cash value could fluctuate for years before it grows appreciably.
Use our free comparison tool to see how much whole life insurance will save you.