Best life insurance companies in Oregon

The best life insurance companies in Oregon are Legal & General America, Brighthouse Financial, Corebridge Financial, Lincoln Financial, MassMutual, Prudential, and Pacific Life.

Headshot of Andrew Hurst

By

Andrew HurstSenior Editor & Licensed Auto Insurance ExpertAndrew Hurst is a senior editor and a licensed auto insurance expert at Policygenius. His work has also been featured in The New York Times, The Wall Street Journal, Forbes, USA Today, NPR, Mic, Insurance Business Magazine, ValuePenguin, and Property Casualty 360.

Edited by

Anna SwartzAnna SwartzSenior Managing Editor & Auto Insurance ExpertAnna Swartz is a senior managing editor and auto insurance expert at Policygenius, where she oversees our car insurance coverage. Previously, she was a senior staff writer at Mic.com, as well as an associate writer at The Dodo.
|

Reviewed by

Ian Bloom, CFP®, RLP®Ian Bloom, CFP®, RLP®Certified Financial PlannerIan Bloom, CFP®, RLP®, is a certified financial planner and a member of the Financial Review Council at Policygenius. Previously, he was a financial advisor at MetLife and MassMutual.

Updated|5 min read

Expert reviewedExpert reviewedThis article has been reviewed by a member of ourFinancial Review Council to ensure all sources, statistics, and claims meet the highest standard for accurate and unbiased advice.Learn more about oureditorial review process.

Policygenius content follows strict guidelines for editorial accuracy and integrity. Learn about our editorial standards and how we make money.

Your location doesn’t actually affect your life insurance rates — your life insurance quotes will depend mostly on the type of policy you want, how much coverage you need, and personal details about your health and medical history.

That’s why our recommendations for the best life insurance companies in Oregon are similar to our picks for the best overall life insurance companies. But there are some Oregon-specific life insurance laws and regulations you should know about before you get a policy.

Policygenius rating

Best for …

AM Best score

Number of complaints

Cost

Legal & General America

4.9/5 ★

Overall, cheapest, term life

A+

Fewer than average

$

Brighthouse Financial

5.0/5 ★

No-medical-exam, young adults

A

More than average

$

Corebridge Financial

4.6/5 ★

Smokers

A

More than average

$

Lincoln Financial

4.8/5 ★

Pre-existing conditions, marijuana users

A

Fewer than average

$

MassMutual

4.9/5 ★

Whole life

A++

Fewer than average

$$$

Prudential

4.1/5 ★

Seniors

A+

Fewer than average

$$

Pacific Life

4.8/5★

Guaranteed universal

A+

Fewer than average

$

Collapse table

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.

Read more about our reviews methodology

The best life insurance company in Oregon is Legal & General America, which also does business as Banner Life and William Penn in some states. Legal & General America is our top choice because you may be able to get cheap life insurance rates even if you have a spotty medical record or if you’re a smoker.

We also like that Legal & General receives fewer complaints from its policyholders than some competitors. According to the National Association of Insurance Commissioners, it gets about 60% fewer complaints from its policyholders than what’s expected.

Legal & General America has some of the cheapest average life insurance rates, even for applicants who aren’t in perfect health (but remember that your location doesn’t affect your life insurance rates).

You can find affordable coverage no matter where you live by comparing quotes from multiple life insurance companies before you buy. It’s also a good idea to get coverage while you’re young, since your rates will only get higher as you age.

Ready to shop for life insurance in Oregon?

We found that the best term life insurance in Oregon is Legal & General America, which offers term lengths as long as 40 years. That’s more coverage than the 30-year term most other life insurance companies offer.

Term life insurance is the most straightforward type of life insurance. You choose the length of your policy (its term) and the amount you want your loved ones to get after your death, and if you die while your policy is active your family will collect a payment.

Best no-medical-exam life insurance in Oregon: Brighthouse Financial

Brighthouse Financial is the best company for no-medical-exam life insurance in Oregon. If you’re in good health, you may be approved instantly for up to $3 million in coverage. Brighthouse Financial offers 30-year terms, and you can qualify for coverage until you’re 50 years old.

No-medical-exam life insurance is a normal policy, but the application doesn’t require a medical exam. Instead, the insurance company will ask you questions over the phone and offer you coverage if you meet their requirements, sometimes all in one phone call.

Best whole life insurance in Oregon: MassMutual

MassMutual is the best whole life insurance company in Oregon. We chose MassMutual for its financial strength, which is especially important because whole life is permanent, meaning you want to make sure the company is around as long as you are.

In addition to a death benefit, a whole life policy has a cash value component that can gain interest over time, and even pay out dividends. You can also access your cash value portion while you’re alive.

Best guaranteed universal life insurance in Oregon: Pacific Life

The best company for guaranteed universal life insurance in Oregon is Pacific Life. It has great stability (an A+ for financial strength AM Best), which is important for permanent life insurance. You apply for coverage up until you’re 80 years old.

Guaranteed universal life insurance is worth considering if you’re looking for the lasting coverage of a permanent policy without paying the higher premiums for whole life insurance.

Best life insurance for seniors in Oregon: Prudential

We found that Prudential is the best life insurance option for seniors in Oregon. You may qualify for coverage until you’re 70 years old, even if you have a pre-existing health condition related to your age. Prudential also has a living benefit option that lets you take advantage of part of your benefits if you’re terminally ill.

Best life insurance for young adults in Oregon: Brighthouse Financial

Brighthouse Financial is the best life insurance company for young adults in Oregon. If you’re a young adult who’s at least 20 years old, you can qualify for up to $3 million in coverage from Brighthouse Financial’s instant-approval life insurance.

Best life insurance for pre-existing conditions in Oregon: Lincoln Financial

The best life insurance company in Oregon if you have a pre-existing medical condition is Lincoln Financial. It can be hard to find coverage at all if you have certain pre-existing conditions, but Lincoln Financial may offer you life insurance even if you’ve had a heart attack, or if you have asthma, epilepsy, and other conditions.

Best life insurance for marijuana users in Oregon: Lincoln Financial

Lincoln Financial is the best company in Oregon for life insurance if you use marijuana. That’s because Lincoln Financial won’t classify you as a smoker, meaning you can get cheaper rates than tobacco users. You may even be able to get affordable rates if you’re a regular user.

Make sure to be honest with your life insurance company if you use marijuana. If you die and your insurance company finds out you weren’t up front about your marijuana use, your loved ones may not be able to collect the death benefit.

Best life insurance for smokers in Oregon: Corebridge Financial

The best life insurance company for smokers in Oregon is Corebridge Financial. Your rates will still be more expensive than non-smoking rates but you can apply for better rates after one smoke-free year. Corebridge Financial also allows cigar smokers to qualify for the best rate tier provided they smoke four cigars a month or fewer.

Ready to shop for life insurance in Indiana?

How is life insurance different in Oregon?

There are some state-specific laws and regulations in Oregon that can affect your life insurance. [1] Here’s what you need to know before you buy life insurance:

  • Contestable period: Oregon has a two-year contestable period. This means that if you die in the two years after you get a policy, the insurance company can deny a claim if it finds out that you misrepresented yourself.

  • Free look period: The mandatory free look period in Oregon is 10 days from when you buy a policy or 30 days if you switch from another policy. During this time you can cancel your life insurance and receive a full refund.

  • Grace period: The grace period for a missed payment in Oregon is 30 days. You’ll also have to pay slightly more if you miss a payment since what you owe will gain interest.

  • Guaranty Fund protection: If your life insurance company goes bankrupt, Oregon’s Guaranty Association will step in and 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 30 after receiving proof of death to process a claim or pay interest on your death benefit.

Largest life insurance companies in Oregon

Many of the largest life insurance companies in the country offer policies in Oregon. Here are the 10 largest life insurance companies in Oregon by market share. [2]

A bar graph showing the largest life insurance companies in Oregon by market share. Northwestern Mutual is the largest life insurance company in Oregon.

Company

Market share in Oregon

Northwestern Mutual

7.94%

New York Life

6.13%

Minnesota Mutual

5.13%

Prudential

5.05%

State Farm

4.92%

Lincoln Financial

3.92%

Pacific Guardian

3.14%

Pacific Life

3.13%

MetLife

3.07%

MassMutual

2.84%

Collapse table

What happens if a life insurance company goes bankrupt in Oregon?

If your life insurance company goes bankrupt, the Oregon Life and Health Insurance Guaranty Association will cover part of your policy’s benefits. You can find coverage from another company or stick with the Guaranty Assocation’s coverage.

Oregon’s Guaranty Association covers you for up to $300,000 in death benefits and $100,000 in cash surrender value. If you move to another state, your new state’s Guaranty Association will take over.

How to find a lost life insurance policy in Oregon

You can use the Life Insurance Policy Locator Service from the National Association of Insurance Commissioners to find a lost life insurance policy, but only if you have a connection to the deceased person.

Average life insurance rates in Oregon

Based on our analysis of Policygenius data from 2024, the average monthly cost of life insurance in Oregon for a healthy 35-year-old in buying 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 — though your exact premiums will depend on other factors specific to you.

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

Collapse table

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 06/01/2024.

Ready to shop for life insurance in Oregon?

References

dropdown arrow

Policygenius uses external sources, including government data, industry studies, and reputable news organizations to supplement proprietary marketplace data and internal expertise. Learn more about how we use and vet external sources as part of oureditorial standards.

  1. Department of Consumer & Business Services

    . "

    Your Rights When Purchasing Insurance and Annuities

    ." Accessed January 12, 2024.

  2. National Association of Insurance Commissioners

    . "

    Life and fraternal insurance industry 2021: Top 25 groups and companies by countrywide premium

    ." Accessed August 21, 2023.

Author

Andrew Hurst is a senior editor and a licensed auto insurance expert at Policygenius. His work has also been featured in The New York Times, The Wall Street Journal, Forbes, USA Today, NPR, Mic, Insurance Business Magazine, ValuePenguin, and Property Casualty 360.

Editor

Anna Swartz is a senior managing editor and auto insurance expert at Policygenius, where she oversees our car insurance coverage. Previously, she was a senior staff writer at Mic.com, as well as an associate writer at The Dodo.

Expert reviewer

Ian Bloom, CFP®, RLP®, is a certified financial planner and a member of the Financial Review Council at Policygenius. Previously, he was a financial advisor at MetLife and MassMutual.

Questions about this page? Email us at .