Life Insurance for Nurses (Discounts & Rates)

Life insurance for nurses comes in three main types; group life policies direct from employers, private life insurance policies, and organizational policies. Group term life insurance is the most affordable option but provides lower coverage amounts. Organizational policies are designed specifically for nurses and come with discounts to make them likely the second most affordable option. Private policies allow for more customization in coverage but are the most expensive.

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D. Gilson is a writer and author of essays, poetry, and scholarship that explore the relationship between popular culture, literature, sexuality, and memoir. His latest book is Jesus Freak, with Will Stockton, part of Bloomsbury’s 33 1/3 Series. His other books include I Will Say This Exactly One Time and Crush. His first chapbook, Catch & Release, won the 2012 Robin Becker Prize from Seve...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insuranc...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Apr 22, 2021

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The Highlights

  • Nurses can get life insurance directly through their work, from private insurers, and through nursing organizations
  • Group life insurance is the most affordable option. However, it will provide less coverage than other policies
  • Private life insurance policies are sometimes more expensive but allow more coverage and flexibility
  • Organizational policies are often tailored for nurses and can be affordable and provide more coverage, and are a great middle-ground

Nurses put their lives on the line to help patients every single day; as such, they deserve access to affordable life insurance for nurses.

Luckily, nurses have several options when it comes to purchasing life insurance, including group life insurance through their employers.

Keep reading to learn more about what life insurance options are available for nurses and which option is the most affordable.

Are you ready to look for affordable life insurance for nurses? Enter your ZIP code above, and we will help you find life insurance rates for nurses from companies near you.

What options do nurses have for life insurance?

As a nurse, you have three primary ways of obtaining life insurance; insurance through your job, a private policy, or specialized policies funded or crafted by nursing organizations.

Each type of policy comes with its own benefits, and you may have the option of purchasing multiple policies if you feel you need additional coverage.

Group Life Insurance

This type of life insurance is offered through your employer. Group life insurance usually offers term life policies at a discount to all full-time employees.

This can be a very convenient way to get coverage at a discounted rate, with premiums deducted directly from your paycheck.

However, these policies often offer lower coverage amounts than traditional policies, and most won’t be transferable if you change employers.

Specialized Life Insurance Options

There are organizations designed to provide special benefits to those in the medical field. For nurses, the two most popular personal insurance options are the NSO and the ANA.

Both groups provide life insurance options for members. However, there is a fee for retaining membership with these organizations.

These policies are advantageous if you are a member, as they will offer discounted rates that may be hard to beat compared to private policies.

However, they may not offer you the type of policy you want. Many of the life insurance options designed by these organizations provide term policies only.

Private Life Insurance Options

The last option would be to purchase an individual life insurance policy wholly separate from the job, like those offered by MassMutual, Haven Life, or Prosperity Life.

Some life insurance policies may provide discounts based on where you work or offer better rates and more coverage than the nursing-specific policies available.

As stated before, many of these organizations will work solely with term life insurance policies, so if you are after a permanent policy, going private may work better for you.

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What is the most affordable life insurance for nurses?

On average, group life insurance policies and the specialized policies crafted by nursing organizations are more affordable options for life insurance.

However, not all coverage is equal. If you are looking for higher coverage amounts or permanent coverage, you may need to turn to private policies that come with higher premiums.

That being said, if you have the budget, you may consider getting more than one policy at a time.

If you have a group life insurance policy for a lower amount, like $25,000, you can get another small term life insurance policy from a private insurer, say for another $50,000.

This gives you $75,000 in coverage for as long as you maintain your job, and you are getting it at a discount between the two policies.

Another great way to save on nurse life insurance is to shop around before making your final decision.

Which life insurance company for nurses is the best? Get a quote from multiple providers, then compare coverage amounts and premiums for private, group, and specialized policies.

Are you ready to buy life insurance for nurses? Enter your ZIP code below to find life insurance quotes for nurses.

Are you looking for free insurance quotes?

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