Best Life Insurance in South Carolina for 2025 (Check Out the Top 10 Companies)
Get the best life insurance in South Carolina from State Farm, Prudential, and Mutual of Ohama. Locals get term life insurance rates as low as $15 a month.
If you're wondering, is life insurance worth it? This comprehensive life insurance guide explores everything you need to know, from calculating how much life insurance you need in South Carolina to finding the best discounts.
| Company | Rank | Bundling Discount | A.M. Best | Best For | Jump to Pros/Cons |
|---|---|---|---|---|---|
 |
#1 | 17% | B | Personalized Advice | State Farm |
 |
#2 | 13% | A+ | Flexible Policies | Prudential |
 |
#3 | 4% | A+ | Affordable Premiums | Mutual of Omaha |
 |
#4 | 7% | A+ | Reliable Underwriting | Banner Life |
 |
#5 | 11% | A++ | Customer Service | Guardian Life |
 |
#6 | 12% | A++ | Financial Planning | Northwestern Mutual |
 |
#7 | 11% | A++ | Financial Stability | New York Life |
 |
#8 | 5% | A+ | Universal Policies | Pacific Life |
 |
#9 | 6% | A+ | Easy Approval | Transamerica |
 |
#10 | 10% | A+ | Claims Satisfaction | Lincoln |
Keep reading to compare South Carolina life insurance policy types from these top Providers and learn how life insurance can protect your family’s future.
Don't overspend on life insurance. Use our tool to compare rates from top providers near you.
What You Should Know
- The cheapest life insurance in South Carolina starts at $15 per month
- State Farm is the best life insurance company for personalized policies and excellent service
- Bundling discounts helps lower life insurance premiums in SC
#1 – State Farm: Best for Personalized Advice
Pros
- Local Expertise: Local agents are available to give detailed, personalized life insurance advice to South Carolina residents.
- Affordable Term Rates: The $18 monthly term life insurance rates in South Carolina help customers save money.
- Multi-Policy Value: Bundling programs offer South Carolina policyholders substantial life insurance discounts reaching 17%. Get more discounts in our State Farm review.
Cons
- Limited Online Options: Large policy changes need South Carolina residents to schedule visits at local offices.
- Medical Requirements: South Carolina health check-ups are much stricter than other insurers.
#2 – Prudential: Best for Flexible Policies
Pros
- Policy Customization: South Carolina residents can modify their life insurance policies at any time.
- Online Capabilities: South Carolinians receive fully-featured online systems for managing all of their insurance policies.
- Competitive Whole Life: South Carolina whole life insurance rates start at $165 monthly, which is cheaper than most companies. Compare more quotes in our Prudential Insurance review.
Cons
- Complex Options: Multiple policy customization options can overwhelm customers across South Carolina looking for basic coverage.
- Response Times: Wait times for life insurance customer service consistently exceed standard processing times in South Carolina.
#3 – Mutual of Omaha: Best for Affordable Premiums
Pros
- Budget-Friendly Terms: The industry-leading $15 monthly term life insurance rates make coverage highly accessible in South Carolina.
- Simple Application: As one of the best life insurance companies that cover people denied by other insurers, it has no-hassle approval processes throughout South Carolina.
- Health Flexibility: Residents in South Carolina with pre-existing conditions are more likely to be accepted for coverage by Mutual of Omaha.
Cons
- Limited Offices: The total number of service branches serving South Carolina falls well below the market average.
- Basic Features: Available policy riders consistently lag behind other South Carolina life insurance companies'.
#4 – Banner Life: Best for Reliable Underwriting
Pros
- Consistent Approval: Clear life insurance underwriting in South Carolina is important for consumers who prefer transparency.
- Quick Processing: Policy decisions reach applicants within 24-48 hours across all South Carolina regions.
- Competitive Rates: Affordable South Carolina term life insurance starts at $19 monthly.
Cons
- Limited Products: Insurance shoppers in South Carolina encounter more restricted policy type selections. (Read More: Everything You Need to Know About Applying for Life Insurance)
- Service Access: Available support options for South Carolina clients primarily rely on phone communication rather than in-person service.
#5 – Guardian Life: Best for Customer Service
Pros
- 24/7 Support: Dedicated service representatives remain continuously available to assist South Carolina clients.
- Claims Excellence: Insurance claim processing times are the best among other South Carolina life insurance companies.
- Health Rewards: Whole life policies in South Carolina include extensive wellness discounts. Learn how to use fitness trackers to save on health insurance.
Cons
- Premium Costs: It has some of the most expensive life insurance rates in South Carolina.
- Can't Buy Online: You must work with a local agent to buy life insurance in South Carolina.
#6 – Northwestern Mutual: Best for Financial Planning
Pros
- Comprehensive Planning: Integrated insurance strategies combine strong investments for South Carolina clients.
- Expert Guidance: Every active policy in South Carolina includes dedicated, certified financial planner access, making them one of the best life insurance companies that work directly with agents.
- Annual Dividends: Whole life policyholders in South Carolina get annual dividends based on market performance.
Cons
- Higher Premiums: Extensive financial planning raises life insurance costs in South Carolina.
- Account Minimums: Advanced planning services require maintaining higher balances from South Carolina policyholders.
#7 – New York Life: Best for Financial Stability
Pros
- Company Strength: The prestigious A++ rating ensures long-term stability for policyholders and beneficiaries in South Carolina.
- Dividend History: Active policy owners in South Carolina receive consistent annual dividend returns.
- Legacy Planning: Whole life policies include comprehensive estate services in South Carolina.
Cons
- Premium Rates: Even though standard insurance costs significantly exceed competitor averages throughout South Carolina it's one of the life insurance companies with rates that stay the same.
- Service Structure: Designated agents must handle all service requests from South Carolina customers.
#8 – Pacific Life: Best for Universal Policies
Pros
- Guaranteed Interest: Universal life in South Carolina come with guaranteed interest credit that never goes below Pacific Life's minimum rate.
- Investment Choice: Comprehensive whole life policies offer diverse investment options in South Carolina.
- Rate Stability: Standard monthly premiums maintain consistent rates across all South Carolina regions.
Cons
- Complex Features: Advanced universal policy features can challenge many insurance shoppers looking for basic coverage in South Carolina.
- Support Structure: Investment-related questions from South Carolina policyholders face extended response times.
#9 – Transamerica: Best for Competitive Rates
Pros
- Easy Qualification: Attracts numerous new policyholders in South Carolina as one of the life insurance companies that accept felons.
- Low Costs: Affordable term life coverage starts at $21 per month in South Carolina.
- Online Tools: Advanced digital management platforms effectively serve customers across South Carolina.
Cons
- Limited Support: Local agent availability consistently falls below industry standards in South Carolina regions.
- Basic Features: Standard insurance policies include fewer comprehensive benefits for South Carolina residents.
#10 – Lincoln Financial: Best for Claims Satisfaction
Pros
- Fast Claims: Efficient five-day payment processing leads industry standards in South Carolina markets.
- Digital Claims: Streamlined online submission systems serve beneficiaries effectively throughout South Carolina.
- Service Quality: Lincoln Financial is also one of life insurance companies that will cover clients that had open heart surgery in South Carolina.
Cons
- Coverage Limits: Strict policy restrictions affect many looking for comprehensive South Carolina life insurance.
- Premium Rates: Elevated insurance costs significantly impact coverage decisions throughout South Carolina.
Affordable Term & Whole Life Insurance Options in SC
For those asking, how much does life insurance cost, whole life policies average higher premiums, with costs like $150 a month from Banner Life or $250 per month from New York Life, reflecting the lifetime value of these policies.
| Insurance Company | Term Policy | Whole Policy |
|---|---|---|
|
$19 | $150 |
|
$25 | $200 |
|
$22 | $170 |
|
$15 | $160 |
|
$30 | $250 |
|
$28 | $230 |
|
$24 | $180 |
|
$20 | $165 |
|
$18 | $163 |
|
$21 | $190 |
When considering the cheapest life insurance in South Carolina, Mutual of Omaha stands out with a term policy at $15 per month. Banner Life and State Farm are the next cheapest companies.
For those who want the best for people with pre-existing conditions, providers like Prudential and Lincoln offer competitive rates while maintaining robust coverage. South Carolina providers like this stand out for offering the best no medical exam life insurance options.
Understanding South Carolina Life Insurance Costs
When analyzing the geographic distribution of insurance-related incidents across major cities in South Carolina, we can see clear patterns in both accidents and claims:
| City | Accidents per Year | Claims per Year |
|---|---|---|
| Charleston | 1,200 | 2,500 |
| Columbia | 1,000 | 2,000 |
| Greenville | 900 | 1,800 |
| Myrtle Beach | 800 | 1,700 |
| Spartanburg | 750 | 1,500 |
These statistics highlight the importance of having adequate life insurance coverage in South Carolina, particularly in urban areas where accident rates are higher.
| Claim Type | Portion of Claims | Cost per Claim |
|---|---|---|
| Natural Causes | 50% | $200,000 |
| Accidents | 25% | $150,000 |
| Other Causes | 10% | $180,000 |
| Suicide | 10% | $100,000 |
| Homicide | 5% | $250,000 |
The data suggests a correlation between city size and insurance claim frequency, which could impact your South Carolina insurance costs depending on where you live.
Our Catastrophe Response Team is on the ground and ready to help customers recover from the devastating wildfires. https://t.co/Ad5q6XAYIy
— State Farm (@StateFarm) January 28, 2025
Since accidents account for 25% of life insurance claims in South Carolina, it's crucial for residents in these areas to carefully consider their coverage needs to get the best rates.
How to Save on SC Life Insurance With Healthy Living Habits
The discount options in the table highlight diverse savings opportunities available from the best South Carolina life insurance companies, including the healthy lifestyle discount, which incentivizes maintaining wellness.
| Insurance Company | Available Discounts |
|---|---|
|
Smoker-Free Incentive, Family Coverage Discount, Healthy Lifestyle Savings, Simplified Policy Reward |
|
Wellness Program Discount, Family Protection Bonus, Health Monitoring Savings, Non-Smoker Incentive |
|
Health Conscious Incentive, Family Protection Discount, Smoker-Free Savings, Wellness Program Reward |
|
Family Protection Savings, New Policyholder Discount, Smoker-Free Reward, Long-Term Policy Discount |
|
Wellness Program Savings, Family Bundle Discount, Healthy Living Reward, Long-Term Policy Savings |
|
Healthy Living Incentive, Family Coverage Savings, Smoker-Free Reward, Loyalty Bonus |
|
Multi-Policy Savings, Healthy Living Incentive, Non-Smoker Discount, Family Coverage Reward |
|
Wellness Program Savings, Healthy Living Incentive, Family Bundle Discount, Simplified Underwriting Bonus |
|
Healthy Lifestyle Reward, Multi-Policy Discount, Smoker-Free Savings, Long-Term Loyalty Bonus |
|
Family Bundle Savings, Simplified Underwriting Discount, Wellness Program Savings, Smoker-Free Reward |
Being smoke free, participating in wellness programs, and maintaining other healthy living habts can help you save money on life insurance in South Carolina.
Similarly, discounts such as long-term loyalty rewards and family protection savings make options like State Farm and New York Life Best for seniors, ensuring affordability and value for various life stages.
| Discount Name | Grade | Savings | Participating Providers |
|---|---|---|---|
| Health & Wellness | A | 20% | State Farm, Prudential, Guardian Life, Lincoln Financial |
| Bundling | A | 15% | State Farm, Prudential, Lincoln Financial, Transamerica |
| No Smoking | A | 15% | State Farm, Transamerica, Guardian Life, Lincoln Financial |
| Term Life | A | 10% | Prudential, New York Life, Transamerica |
| Family Coverage | B+ | 12% | State Farm, Transamerica, Guardian Life, Lincoln Financial |
| Loyalty | B | 12% | State Farm, Guardian Life, Mutual of Omaha |
| Long-Term Policy | B | 10% | Northwestern Mutual, New York Life, Mutual of Omaha |
| Automatic Payment | B | 7% | MassMutual, Prudential, Lincoln Financial |
Healthy living discounts have the biggest savings, up to 20% from top company State Farm. State Farm also has competitive discounts for being smoke-free and bundling multiple types of insurance.
The Best South Carolina Life Insurance Companies
Choosing the best life insurance in South Carolina from State Farm, Prudential, or Mutual of Omaha will help you plan your financial future with insurance.
State Farm offers the best South Carolina life insurance with personalized customer service and competitive discounts for bundling and healthy living.
Overall, South Carolina is a great state for affordable life insurance with a stable economy and fewer claims than average. However, rates may be higher in coastal areas with increased natural disaster risks.
| Category | Grade | Explanation |
|---|---|---|
| Traffic Density | A | Heavy traffic congestion areas |
| Economic Stability | B+ | Stable economy keeps premiums moderate |
| Average Claim Size | B | Moderate average claim values |
| Climate Change Risk | B | Climate risk increases premiums |
| Health Risk Factors | B | Obesity, smoking, health issues |
| Life Expectancy | B | Average lifespan of 77 years |
| Demographic Shifts | B- | Aging population may raise premiums |
| Crime Rate | C | Moderate crime affecting premiums |
| Natural Disaster Risk | C | Hurricane-prone and storm risks |
| Uninsured Drivers Rate | C | High rate of uninsured drivers |
If you’re looking for affordable life insurance premiums, try our comparison tool and find the cheapest coverage that fits your needs.
Frequently Asked Questions
How much does life insurance cost in South Carolina?
Life insurance premiums in South Carolina can vary depending on factors like age, health, and coverage amount. On average, rates start at approximately $86 a month.
Who is the most trustworthy South Carolina life insurance company?
State Farm, Prudential, and Mutual of Omaha are considered some of the most trustworthy life insurance companies due to their strong financial ratings and reputation for customer service.
What is the best type of life insurance to get in South Carolina?
The best type of life insurance depends on your needs. Term life insurance is ideal for short-term coverage, while whole life offers lifelong protection with cash value accumulation.
Read More: Whole vs. Universal Life Insurance
How much does a $1,000,000 life insurance policy cost per month in South Carolina?
A $1,000,000 life insurance policy typically costs between $15 and $250 monthly, depending on factors like age, health, and whether it's a term or whole life policy.
Is term or whole life better?
Term life insurance is more affordable and suited for temporary needs, while whole life provides lifelong coverage and builds cash value, making it more expensive.
Find cheap life insurance quotes by entering your ZIP code into our free quote comparison tool.
What are the cons of whole life insurance?
Whole life insurance can be expensive, and the cash value growth is typically slower than other investment options. It may not be suitable for those on a tight budget.
Read More: Modified Whole Life Insurance: Everything You Want to Know
Can you cash out a South Carolina life insurance policy?
With certain types of life insurance, such as whole life, you can cash out or take a loan against the policy's accumulated cash value.
Can you have multiple life insurance policies in South Carolina?
Yes, you can have multiple life insurance policies. This can be beneficial for additional coverage if needed, but be mindful of the total premiums.
Free instant life insurance quotes are just a click away. Enter your ZIP code to get started.
What disqualifies a life insurance payout in South Carolina?
Life insurance payouts may be disqualified in cases of fraud, misrepresentation, suicide within the first two years, or death resulting from high-risk activities not covered under the policy.
How much is health insurance in South Carolina per month?
To find affordable health insurance in South Carolina can vary widely based on age, coverage, and plan type. On average, expect to pay between $300 and $600 per month for individual coverage.