Best Life Insurance in Maine for 2025 (Check Out the Top 10 Companies)

State Farm, Geico, and Allstate have the best life insurance in Maine, offering cheap term life coverage starting as low as $40 a month.

State Farm stands out for its flexible term policies, while Geico provides affordable whole life insurance in Maine. You can save even more with discounts from life insurance companies for being healthy.

Company	Rank	Multi-Vehicle Discount	A.M. Best	Best For	Jump to Pros/Cons
	#1	17%	B	Term Options	State Farm
	#2	25%	A++	Universal Options	Geico
	#3	25%	A+	Custom Policies	Allstate
	#4	4%	A+	Affordable Coverage	Mutual of Omaha
	#5	11%	A++	Disability Integration	Guardian Life
	#6	20%	A+	Competitive Rates	Nationwide
	#7	6%	A++	Dividend Payouts	MassMutual
	#8	10%	A+	Bundling Discounts	Prudential
	#9	10%	A+	Flexible Terms	Progressive
	#10	10%	A+	Wellness Incentives	John Hancock

Compare quotes now to find the perfect plan that fits your budget and lifestyle. You can get free quotes for Maine life insurance and secure financial protection for your loved ones by entering your ZIP code into our tool.

What You Should Know

• Find cheap life insurance in Maine with Geico for just $40 a month
• State Farm offers flexible term policies, making it the top pick for affordability
• Get coverage tailored to your needs with top providers like Geico and Allstate

#1 – State Farm: Top Overall Pick

Pros

• Flexible Term Policies: State Farm offers simple and flexible term life insurance options for Maine residents.
• Affordable Rates: Term policies start at $50 per month, making it a budget-friendly option for families in Maine.
• Bundling Discounts: Based on our State Farm review, you can save more in Maine by bundling life insurance with auto or home insurance.

Cons

• Lower Financial Rating: With a B rating, State Farm’s financial stability is slightly below some competitors in Maine.
• Limited Discounts: State Farm offers fewer discount programs in Maine compared to other companies.

#2 – Geico: Best for Universal Options

Pros

• Great Universal Options: Geico provides a variety of universal life insurance plans for Maine residents.
• Low Monthly Rates: Term policies in Maine start at just $40 per month, making it one of the most affordable choices.
• Big Discounts: Geico offers up to 25% off through programs for healthy living and non-smokers in Maine (Read more: Best Life Insurance Companies).

Cons

• Few Local Offices: Geico doesn’t have as many physical locations in Maine as some other providers.
• Limited Whole Life Options: Geico’s whole life insurance choices might not suit everyone in Maine.

#3 – Allstate: Best for Custom Policies

Pros

• Customizable Policies: As mentioned in our Allstate review, it offers life insurance policies that can be tailored to meet specific needs in Maine.
• Affordable Rates: Term policies start at $48 per month, making it an affordable option for Maine families.
• Bundling Savings: Maine residents can save up to 25% by bundling life insurance with home or auto insurance.

Cons

• Expensive Whole Life Policies: Whole life policies in Maine start at $250 per month, which is higher than many competitors.
• Complicated Options: The wide range of choices may be confusing for some customers in Maine.

#4 – Mutual of Omaha: Best for Affordable Coverage

Pros

• Budget-Friendly Rates: Term life policies start at $47 per month, offering an affordable option for Maine residents.
• Healthy Lifestyle Discounts: Non-smokers and healthy individuals in Maine can get extra savings.
• Easy Application Process: Simple options are available for those looking to get covered quickly in Maine. Find life insurance policies that generate immediate cash value.

Cons

• Small Bundling Discounts: Maine customers may find bundling only saves about 4%.
• Limited Online Features: Managing your policy online isn’t as convenient as with other companies in Maine.

#5 – Guardian Life: Best for Disability Integration

Pros

• Disability Coverage Options: Guardian Life makes it easy to combine life insurance with disability coverage in Maine. It also specializes in higher-risk life insurance.
• Strong Financial Ratings: The company’s A++ rating ensures stability and reliability for Maine customers.
• Wellness Discounts: Maine residents can save through rewards programs for healthy lifestyles.

Cons

• Higher Monthly Rates: Term policies start at $60 per month, which is higher than some competitors in Maine.
• Fewer Discount Programs: Guardian Life offers fewer discounts compared to other Maine providers.

#6 – Nationwide: Best for Competitive Rates

Pros

• Affordable Rates: Term life policies start at $53 per month, offering great value for Maine residents.
• Multiple Discounts: Maine customers can save with bundling, healthy lifestyle, and early application discounts.
• Wide Coverage Options: As per Nationwide review, it offers a variety of policies to suit different needs in Maine.

Cons

• Limited Local Agents: Some Maine customers may prefer more in-person support.
• Higher Whole Policy Costs: Whole life insurance rates start at $265 per month, which is higher than some competitors.

#7 – MassMutual: Best for Dividend Payouts

Pros

• Dividend Payments: MassMutual policyholders in Maine can benefit from regular dividend payouts.
• Competitive Term Rates: Term policies start at $65 per month, offering a balance of value and coverage.
• Bundling Discounts: Maine customers can save by combining life insurance with other policies. Learn about modified life insurance.

Cons

• High Premiums: Whole life policies in Maine start at $300 per month, which may not suit budget-conscious buyers.
• Complex Policies: Some Maine customers might find the dividend structure confusing.

#8 – Prudential: Best for Bundling Discounts

Pros

• Bundling Savings: Based on our Prudential review, it offers discounts for Maine residents who combine life insurance with other policies.
• Affordable Term Policies: Term life insurance starts at $55 per month, making it a mid-range option in Maine.
• Health-Focused Discounts: Maine customers can save with wellness and non-smoker rewards programs.

Cons

• Longer Application Process: Some Maine customers report delays in policy approval.
• Limited Whole Life Options: Whole policies may not offer as many flexible features for Maine buyers.

#9 – Progressive: Best for Flexible Terms

Pros

• Customizable Policies: In Our Progressive review, it offers flexible term life insurance options for Maine residents.
• Affordable Rates: Term policies in Maine start at $46 per month, making it a budget-friendly choice.
• Healthy Living Discounts: Maine customers can save with programs that reward healthy habits.

Cons

• Limited Coverage Choices: Whole life policy options are not as extensive in Maine.
• Few Local Agents: Progressive’s physical presence in Maine is smaller compared to competitors.

#10 – John Hancock: Best for Wellness Incentives

Pros

• Wellness Rewards: Maine customers can save through the Vitality Program, which offers incentives for healthy living.
• Affordable Term Rates: Term policies start at $54 per month, providing good value for Maine residents.
• Non-Smoker Discounts: Additional savings are available for non-smokers in Maine making it's one of the best life insurance companies that offer discounts for being healthy.

Cons

• Higher Whole Policy Costs: Whole life policies in Maine start at $270 per month, which might be expensive for some.
• Complex Discounts: Some Maine customers may find the wellness rewards system difficult to navigate.

The Best Life Insurance Rates in Maine

How much does life insurance cost? Maine residents can find competitive life insurance rates. The table below compares the monthly premiums for term and whole life insurance policies from the top Maine life insurance companies on our list.

Insurance Company	Term Policy	Whole Policy
	$48	$250
	$40	$220
	$60	$280
	$54	$270
	$65	$300
	$47	$240
	$53	$265
	$46	$230
	$55	$275
	$50	$260

Term life policies generally offer lower rates, starting at $40 per month with Geico, while whole life insurance premiums are higher, ranging from $220 to $300 per month. Reviewing these rates can help Maine residents find the best coverage based on their budget and financial goals.

Read More: The Ultimate Life Insurance Guide

Comparing Different Life Insurance Policies in Maine

Not all life insurance companies in Maine offer the same types of coverage. The table below shows which insurers provide term, whole, universal, final expense, and guaranteed issue policies.

Insurance Company	Term Life	Whole Life	Universal Life	Final Expense	Guaranteed Issue
	✅	✅	✅	✅	❌
	✅	❌	❌	❌	❌
	✅	✅	✅	❌	❌
	✅	✅	✅	❌	❌
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	✅
	✅	✅	✅	❌	❌
	✅	❌	❌	❌	❌
	✅	✅	✅	❌	❌
	✅	✅	✅	✅	❌

Choosing the right life insurance policy in Maine requires evaluating coverage options, premium costs, and the availability of different policy types. Find out how much life insurance you need in the sections below.

Maine Term Life Insurance

Term life insurance offers temporary coverage at lower premiums, making it a cost-effective choice for many Maine residents. The table below compares monthly rates for different term life coverage amounts.

Insurance Company	$100K	$250K	$500K	$1M
	$22	$50	$90	$160
	$25	$55	$100	$175
	$30	$65	$120	$210
	$27	$60	$110	$200
	$26	$58	$105	$180
	$23	$52	$95	$170
	$28	$60	$110	$190
	$30	$68	$120	$210
	$32	$70	$125	$220
	$20	$45	$85	$150

State Farm offers the lowest rates across all coverage levels, making it the most budget-friendly choice. With monthly premiums starting at just $20 for $100,000 in coverage and $150 for $1 million policies, it provides significant savings compared to other insurers.

Allstate and Mutual of Omaha are also affordable options, with slightly higher prices but still competitive rates. These companies are ideal for individuals looking for low-cost term life insurance in Maine.

Maine Whole Life Insurance

Whole life insurance gives lifelong coverage with a guaranteed payout and a cash value that grows over time. Unlike term life insurance, which lasts for a set number of years, whole life never expires as long as payments are made. Because of this, it costs more than term life insurance.

Insurance Company	$50K	$100K	$250K	$500K
	$130	$240	$570	$1,050
	$140	$250	$580	$1,100
	$135	$250	$600	$1,150
	$145	$270	$630	$1,180
	$140	$260	$620	$1,150
	$125	$220	$540	$1,020
	$145	$265	$630	$1,200
	$160	$290	$680	$1,300
	$150	$275	$650	$1,250
	$120	$210	$490	$880

The cash value feature is one of the benefits of buying life insurance, but also a big reason for the higher price since part of the premium goes into an account that can be withdrawn. State Farm has the lowest rates, starting at $120 per month for $50,000 in coverage and up to $880 monthly for $500,000 policies, making it a great choice for those wanting lifelong coverage at a lower cost.

Geico is ranked best for universal life insurance because it offers flexible payments and competitive pricing, with $140 a month for $50,000 in coverage and $1,100 monthly for $500,000. This makes Geico a good option for people who want long-term coverage with the ability to adjust their policy as needed.

How to Find The Best Maine Life Insurance Discounts

Maine residents can lower their life insurance costs by taking advantage of discounts offered by top companies. One of the biggest ways to save is through bundling, where combining life insurance with auto or home insurance can cut costs by up to 25%. Allstate and Geico offer the highest bundling discounts.

Insurance Company	Bundling	Healthy Lifestyle	Group/Employer	Auto-Pay
	25%	6%	5%	3%
	25%	4%	5%	3%
	15%	10%	5%	4%
	20%	12%	7%	5%
	18%	8%	6%	4%
	22%	9%	6%	5%
	20%	7%	6%	4%
	10%	3%	4%	2%
	10%	6%	5%	3%
	17%	7%	5%	4%

Another way to save is with healthy lifestyle discounts, which reward non-smokers and people who stay in good health. John Hancock offers the biggest savings here at 12%.

Some companies also give discounts for employer-sponsored group plans, with John Hancock offering the highest savings at 7%. Signing up for automatic payments can lower costs even more, with discounts ranging from 2% to 5%, depending on the insurer.

Using these discounts can help Maine residents save a lot on life insurance. Comparing different discounts can lead to big savings while keeping the right protection for your family.

Read More: How do life insurance companies make money?

Getting a Personalized Life Insurance Quotes in Maine

Finding the best life insurance in Maine starts with comparing quotes from online marketplaces for insurance. This ensures you get the most affordable and comprehensive coverage.

We found that State Farm, Geico, and Allstate are the best life insurance companies in Maine for most residents who need budget-friendly term life insurance or universal whole life policies. They also offer competitive discounts for bundling multiple policies.

However, everyone's financial goals are different. Find the right provider near you by requesting personalized Maine life insurance quotes. Enter your ZIP code in our free tool to get started today.