Your life insurance rates depend mostly on the kind of policy you buy and how much coverage you get, along with details about your health and medical history — but where you live doesn’t matter when it comes to life insurance.
That’s why our picks for the best life insurance companies in Nevada are similar to our picks for the best overall companies. But your location will affect some things about buying life insurance, like company availability and local laws.
Policygenius rating | Best for … | AM Best score | Number of complaints | Cost | |
|---|---|---|---|---|---|
4.9/5 ★ | Overall, cheapest, term life | A+ | Fewer than average | $ | |
5.0/5 ★ | No-medical-exam life, young adults | A | More than average | $ | |
4.9/5 ★ | Whole life | A++ | Fewer than average | $$$ | |
4.8/5 ★ | Marijuana | A | Fewer than average | $ | |
4.8/5★ | Guaranteed universal life | A+ | Fewer than average | $ | |
4.6/5 ★ | Pre-existing conditions, smokers | A | More than average | $ | |
4.1/5 ★ | Seniors | A+ | Fewer than average | $$ |
Methodology
Why you can trust our picks
Our recommendations are based on internal and external expert analysis, as well as our Policygenius Life Insurance Price Index, which uses real-time data from leading life insurance companies to determine pricing trends. When reviewing a life insurance company, our editorial team uses a proprietary scoring rubric with five factors — price, policy details, financial strength, transparency, and customer experience — to assign an unbiased rating between one and five stars. These ratings are also taken into consideration as part of our company recommendations. We don’t get paid for our reviews.
Our reviews and recommendations can help you find a reliable insurer for your family’s financial protection, but the best life insurance company for you depends on multiple factors. A licensed agent at Policygenius can support you during the application process to ensure you get the right coverage for your circumstances at the most competitive price.
Best overall life insurance company in Nevada: Legal & General America
The best life insurance company in Nevada is Legal & General America, which also does business as Banner Life and William Penn in some states. We chose Legal & General America because of its strong coverage options and because it has cheap life insurance rates even for applicants with spotty medical records.
Legal & General America also has strong customer service scores — it gets about 60% fewer complaints from its policyholders than what’s expected in the industry, according to the NAIC.
Cheapest life insurance company in Nevada: Legal & General America
Legal & General America has some of the cheapest average life insurance rates overall, but remember: where you live doesn’t affect what you’ll pay for life insurance.
You can find affordable coverage by comparing quotes from multiple life insurance companies before buying a policy. It’s also a good idea to get life insurance while you’re young, since rates will only get more expensive as you age.
Best term life insurance in Nevada: Legal & General America
Legal & General America has the best term life insurance in Nevada. Most companies offer term lengths between 10 and 30 years, but Legal & General offers term limits of up to 40 years. You may also qualify for up to $65 million in coverage.
Term life insurance is the best type of life insurance for most people: Choose how long you want your policy to last (its term) and the amount you want your beneficiaries to get after you die (the death benefit). They can collect the death benefit if you die during the term.
Best no-medical-exam life insurance in Nevada: Brighthouse Financial
Brighthouse Financial is the best company for no-medical-exam life insurance in Nevada. You may be able to get up to $3 million in coverage and a 30-year-term without having to take a medical exam.
A no-medical-exam policy is like a normal term policy except that it usually has lower coverage limits and a faster application process. Skipping the lengthy medical exam process means you might be able to get a policy in as little as 24 hours.
Best whole life insurance in Nevada: MassMutual
MassMutual is the best whole life insurance company in Nevada. MassMutual scores an A++ from AM Best, which indicates top-tier financial strength. A whole life policy lasts for the rest of your life, not a set term, so you want to be sure your insurance company will still be around when you die.
A whole life policy is kind of like a hybrid between a retirement account and life insurance — it also comes with a cash value component that gains value over time, and you can access it before your death.
Best guaranteed universal life insurance in Nevada: Pacific Life
Pacific Life is our pick for the best guaranteed universal life insurance in Nevada. It has a high stability rating (it scored an A+ for financial strength from AM Best) and Pacific Life accepts applicants as old as 80.
Guaranteed universal life insurance is a type of permanent coverage that comes with dependable benefits and low rates. It also has a cash-value component, but it doesn’t gain value as much as other types of permanent life insurance policies.
Best life insurance for seniors in Nevada: Prudential
Prudential is the best life insurance company for seniors in Nevada. You can apply for coverage up to age 70, and you may still find affordable rates from Prudential even if you have high blood pressure, a past heart attack, osteoporosis, or another age-related health condition.
Best life insurance for young adults in Nevada: Brighthouse Financial
Brighthouse Financial is the best life insurance company for young adults in Nevada. It’s usually not hard to find cheap life insurance rates while you’re young, but Brighthouse Financial has cheaper average rates than competitors and offers a fast, no-medical-exam option for certain applicants in good health.
Best life insurance for pre-existing conditions in Nevada: Corebridge Financial
Corebridge Financial is the best life insurance company in Nevada if you have a pre-existing medical condition, like high cholesterol, diabetes, and even a past heart attack. If you have a pre-existing condition that might mean high rates with other companies, there’s a good chance you can still find affordable coverage from Corebridge Financial.
Best life insurance for marijuana users in Nevada: Lincoln Financial
Lincoln Financial is the best life insurance company in Nevada for people who use marijuana. That’s because Lincoln Financial doesn’t classify marijuana users as smokers, which means lower rates. You can get affordable coverage even if you use marijuana up to 6 times a week.
Don’t hide it from your life insurance company if you use marijuana. Misrepresenting yourself on your application could endanger any future claims, and put your loved ones’ financial security at risk.
Best life insurance for smokers in Nevada: Corebridge Financial
Corebridge Financial is the best life insurance for smokers in Nevada. Corebridge Financial lets you apply for better rates a year after you quit smoking — other companies require a longer period of time before you can reapply for lower rates.
How is life insurance different in Nevada?
Simply living in Nevada won’t affect your life insurance rates, but there are some state-specific rules and regulations that you should know about. [1]
Contestable period: Life insurance companies in Nevada have two years to review your application for any inaccuracies or misrepresentation and then take action, which could mean canceling or rescinding your policy
Free look period: You have 10 days to cancel a new life insurance policy after purchase and still get a full refund from your insurance company.
Grace period: Nevada has a grace period of 30 days for missed payments. Remember that your insurance company can charge you interest on missed premiums, so the longer you wait, the more you’ll owe.
Guaranty Fund protection: If your life insurance company goes bankrupt, Nevada’s Guaranty Association will cover up to $300,000 of your death benefits and $100,000 of your policy’s cash surrender value.
Time to settle a claim: Your life insurance company has to process a claim within two months of receiving proof of death.
Largest life insurance companies in Nevada
Here are the 10 largest life insurance companies in Nevada by market share. [2]
Company | Market share in Nevada |
|---|---|
National Life | 9.70% |
New York Life | 6.19% |
Lincoln Financial | 4.75% |
Prudential | 4.27% |
Pacific Life | 4.05% |
Northwestern Mutual | 3.77% |
Guardian Life | 3.55% |
John Hancock | 3.49% |
State Farm | 3.29% |
Transamerica | 3.14% |
What happens if a life insurance company goes bankrupt in Nevada?
It’s rare for life insurance companies to go bankrupt, but if yours does, the Nevada Life and Health Insurance Guaranty Association will cover up to $300,000 of your policy’s death benefits and $100,000 in cash surrender value. You keep your coverage as long as you keep paying your premiums.
How to find a lost life insurance policy in Nevada
If you have a connection to the deceased person, you can find a lost life insurance policy by searching the Life Insurance Policy Locator Service from the National Association of Insurance Commissioners.
Average life insurance rates in Nevada
Based on our analysis of Policygenius data, the average cost of life insurance in Nevada for a $500,000, 20-year term life insurance policy is $27 per month ($307 per year) for women and $32 per month ($373 per year) for men — but remember that your life insurance rates don’t depend on where you live.
Age | Gender | $250,000 coverage amount | $500,000 coverage amount | $1 million coverage amount |
20 | Female | $15.01 | $22.65 | $33.63 |
Male | $19.18 | $30.20 | $47.51 | |
30 | Female | $15.17 | $22.98 | $36.90 |
Male | $18.19 | $29.32 | $48.89 | |
40 | Female | $21.66 | $35.27 | $60.65 |
Male | $25.39 | $42.94 | $75.24 | |
50 | Female | $43.92 | $78.29 | $139.50 |
Male | $56.69 | $102.50 | $188.29 | |
60 | Female | $107.83 | $194.16 | $354.51 |
Male | $149.38 | $268.04 | $499.98 |
Methodology: Average monthly rates are calculated for male and female non-smokers in a Preferred health classification obtaining a 20-year $250,000, $500,000, or $1,000,000 term life insurance policy. Life insurance averages are based on a composite of policies offered by Policygenius from Brighthouse Financial, Corebridge Financial, Foresters Financial, Legal & General America, Lincoln Financial, Mutual of Omaha, Pacific Life, Protective, Prudential, Symetra, and Transamerica, and the Policygenius Life Insurance Price Index, which uses real-time data from leading life insurance companies to determine pricing trends. Rates may vary by insurer, term, coverage amount, health class, and state. Not all policies are available in all states. Rate illustration valid as of 04/01/2024.
Frequently asked questions
What is the number one life insurance company in Nevada?
The best life insurance company in Nevada is Legal & General America. We chose it for its flexible term limits and affordable rates for healthy applicants, as well as smokers and people with pre-existing conditions.
What is the life insurance free look period and grace period in Nevada?
Nevada has a free look period of 10 days and a grace period of 30 days. The free look period is the time right after you buy a policy when you can cancel your coverage and get a refund, while the grace period is the time your insurance company has to give you to make a missed payment before it cancels your policy.
What types of life insurance are available in Nevada?
You can get many types of life insurance in Nevada, like term and whole, as well as guaranteed universal life insurance and no-med life insurance.
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