Discussing life insurance can be uncomfortable, but it’s vital to ensure you and your loved ones are financially secure. You need a life insurance agent who is honest and offers competitive rates. We researched the best life insurance in Oklahoma City to help you start planning.
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How we chose the best
ConsumerAffairs thoroughly researched consumer reviews and company information.
Death can be unpredictable and leave many financial consequences in its wake.
Life insurance lessens these consequences for family and loved ones who are left behind. Life insurance policies provide funds to pay funeral and end-of-life medical expenses, serve as replacement income and cover mortgage payments and other debt.
There are two main types of life insurance in OKC: term life and whole life. The chart below highlights the key differences.
Term life insurance
Whole life insurance
Coverage for a specific period of time
Common terms of 10, 20 and 30 years
No cash value
Premium could remain level or increase
Typically less expensive than whole life
Coverage for life
Also known as permanent
Has cash value
Premium remains level through policy life
Typically more expensive than term life
Universal and variable life insurance policies are also available in Oklahoma City. Both of these are variations of whole life insurance that allow you more flexibility to adjust your policy and offer different investment options.
Life insurance policies become more expensive as you age, so it’s better to plan early rather than wait to purchase one. Premiums also increase in price if you are facing a serious illness or otherwise in poor health. Other factors that affect the cost of life insurance in Oklahoma City include:
Because of the importance and high value of life insurance policies, you want to ensure your provider is honest, offers competitive rates and has a history of financial strength.
Oklahoma City has local branches of major life insurance carriers like State Farm, New York Life Insurance Group, Allstate, MetLife, Prudential Financial and Farmers. There are also a handful of local companies that you can work with, such as Globe Life Insurance, Lynnae Insurance Group and Centennial Insurance Group.
Policygenius is an online company that gathers quotes from multiple agents in your area. After you fill out a short questionnaire online, the company provides premium rates and available coverage types based on your individual needs. Customers in Oklahoma City say using Policygenius is a pressure-free experience.
EverQuote acts as a middleman for choosing insurance. Customers enter information online, and representatives handle research and matching with insurance companies. Many customers in Oklahoma City say it is a fast and hassle-free experience, but others complain about the company’s information-sharing practices.
Globle Life Insurance
Globe Life Insurance, founded in Oklahoma City in 1951, has executive offices in Oklahoma City and McKinney, Texas. The company has an A+ rating with the Better Business Bureau and A.M. Best. It offers term, whole and children’s life insurance policies. Customers in Oklahoma City give the company high reviews for its affordable policies.
Lynnae Insurance Group
Lynnae Insurance Group was started locally in 2002 to provide a new approach to insurance in Oklahoma. It represents American National Property and Casualty Co. The company offers term, whole, universal and key man life insurance. Oklahoma City customers praise the company’s customer service and affordable rates.
Our partners independently research and analyze the companies mentioned in our guides and when needed, consult with subject matter experts to add valuable information that helps consumers make smart purchase decisions. Our partners will not include companies on these guides that do not meet specific quality standards. The compensation we receive from our partners may impact how and where companies appear on our site, including the order in which they appear.
Our partners independently research companies, and use editorial discretion to award companies with special recognition (i.e. Best Value) based on their staff’s judgment or subject matter expert’s judgment. Our partners do this to help you identify companies that will meet your specific buying needs, and do not receive compensation for these designations.