Best Life Insurance in Delaware of 2024

Amanda Hester

We have seen pandemics and other catastrophes turning our lives upside down in a matter of seconds, which makes life insurance worth considering.

While several life insurance plans are available here in Delaware, finding the one that suits you the most and gives you the most benefits can be tricky. Continue reading to know about life insurance in Delaware and how to find the best one for your needs.

Affordable term life Insurance coverage


Coverage Up To

No (up to $3M)

Medical Exam


With Ladder, you can customize your insurance coverage depending on your unique needs throughout your term. You can remove coverage when necessary and apply to add more. Rates start from $4.95/month based on a 20-year-old female for a 10-year term, preferred plus health class.

What we like

  • Flexibility to adjust coverage throughout the term
  • Coverage you can manage online
  • No medical exam required for coverage up to $3M

What we don't

  • No riders are availabe
  • Coverage ends at 70 years of age

Complete your application online


Coverage Up To

May Need

Medical Exam


Haven Life simplifies the insurance application process to learn about your coverage options. There are two products: Haven Simple and Haven Term. Haven Simple requires no medical exam and has a lower coverage amount, and Haven Term may require a medical exam and has more options for coverage.

What we like

  • Healthy individuals will get cheaper premiums
  • 100% online application - no need to talk to an agent
  • Wide range of coverage options
  • Haven Term has various riders
  • No medical exam for Haven Simple

What we don't

  • Only offers term life insurance
  • Only selected regions are eligible for riders

What is the cost of life insurance in Delaware?

A life insurance plan will cost you differently depending on the life insurance company. While there are inexpensive life insurance policies on the market, finding it requires a thorough comparison between different insurers.

The average annual cost of life insurance in Delaware is around $657, converting the monthly average cost to $55.

Life insurance premiums in Delaware vary based on various factors like age, gender, and health status. In terms of age, men in Delaware pay higher rates than women because they have a shorter average lifespan. 

It is also worth noting that the government does not regulate the insurance rates in Delaware as this varies from one insurer to another. Also, permanent insurance is usually somewhat pricier compared to term life insurance.

How are life insurance rates determined in Delaware?

When you want to purchase a life policy in Delaware, the life insurance company will assess numerous criteria, such as your age, risk profile, pre-existing ailment, and so on, to decide how much your premium will be. Age is generally the most influential element, although other aspects also have a role.


As previously mentioned, age is a significant factor when determining your life insurance rates. The younger you are when you buy an insurance plan, the more affordable the premium will be since your mortality rate is low. 

On the other hand, the older you are, the more premium you will pay. Also, most insurers consider your age to determine how much coverage you qualify for.


The other life insurance criterion is your gender. The National Center for Health Statistics, a female’s life expectancy is about five years longer than that of men. Hence, if you are a woman, there is a high likelihood that you will pay less for your life insurance policy than a man.


If you work in construction or other high-risk occupations, your life insurance premiums may be slightly higher than those in a low-risk profession. Generally, life insurance rates in Delaware are often higher for people working in law enforcement or firefighting fields.


It may not be surprising that tobacco users are charged a higher premium for their life insurance policies. With cancer being the leading cause of mortality in Delaware, tobacco users can expect to pay up to 65% more for their life policies.

This can also be true for alcohol and drug users. The good news is that Delaware has hundreds of parks and outdoor activities to promote a healthy lifestyle.


Your current and medical history can also impact your life insurance rates. Applicants with health conditions are more likely to get a life insurance payout sooner and are considered riskier. 

Term length and the coverage amount

Generally, the longer the term duration, the more costly the policy. However, if you set your life insurance coverage for a more extended period, you can save more money in the long run.

Your premiums will also be affected by the amount of protection you select. Undoubtedly, the more coverage you purchase, the more expensive your insurance plan is.

Difference between term and whole life insurance in Delaware

The next aspect to consider when selecting an insurance policy is the type of plan best suited for you. There are many different types of life insurance available in Delaware, but they are typically divided into two categories: term and whole life insurance plans.

A term life insurance plan is typically the preferable alternative if you seek a more cost-effective solution. It is usually determined for a specific period, ranging from ten to thirty years.

Because it doesn’t accumulate cash value, term life insurance is the most basic and least expensive life insurance available. It can be purchased for a set time or until you reach a certain age.

In contrast, the death benefit remains constant with a whole life insurance policy and is not affected by a person’s age. It pays out a specific amount regardless of when the individual dies, given that the premium is paid for the entire term.

What Does Life Insurance Cover in Delaware?

The main goal of life insurance is to provide financial security for your loved ones upon your death. Life insurance coverage typically caters to funeral charges, outstanding debts, income replacement, dependent or childcare, college costs, and everyday expenses.

You should also be aware that long-term care needs are covered by life insurance. The overall purpose of this type of coverage is to help make sure that your family’s healthcare expenses and other household expenditures are covered if something happens to you.

If you have a family, life insurance will provide them with funds to compensate for their lost income source for the rest of their lives. Life insurance can also be utilized to assist in paying education fees. Your beneficiaries are allowed to use the policy’s benefits in any way they see fit. In essence, after your beneficiary obtains the payout, they may use it to support their family, run a business, or for whatever other cause.

How to choose the best life insurance plan in Delaware?

With so many life insurance plans available, selecting the most suitable for your needs can be daunting. The best approach to buying a life insurance policy is to choose one that meets your family’s needs and expectations. However, you must also ensure that the premium fits your monthly budget.

Type of life insurance

You have two options for choosing the right life insurance for your needs. A term life insurance is worth considering if you want a policy that protects you for a certain period. A term life insurance may also come in handy when you want a large amount of insurance but are restrained in your budget.

On the other hand, permanent life insurance provides coverage for as long as you live. It would help if you simply chose the right permanent insurance for your needs, whether whole life, variable life, or universal life. 


Calculate your costs and choose a policy within your limit. When estimating the optimal sum, you must not exceed what is necessary for the entire family’s monthly living expenditures.


Choose a policy that matches your lifestyle and provides flexibility whenever possible. You should also check online life insurance solutions that are fully underwritten and do not require a medical exam. 

This will allow you to finish your application online by answering a few questions without engaging any agents. Most insurance companies will be able to provide you with a quick approval or conclusion on the outcome of your coverage.

Know ahead of time the amount you will have to spend if your insurance cannot provide you with benefits in the event of an accident or death. Once your application has been approved, you may verify it and pay your premiums immediately.