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

Starting at $16 per month, State Farm, Nationwide, and Prudential provide the best life insurance in Tennessee.

Our in-depth analysis reveals how to get discounts from these life insurance companies for being healthy, along with detailed comparisons of rates, coverage options, and unique benefits from the state's top providers. From State Farm's extensive local network to Nationwide's customizable policies and Prudential's financial strength, we'll help you understand policy types, costs, and available discounts to make an informed decision about protecting your family's future.

Company	Rank	Bundling Discount	A.M. Best	Best For	Jump to Pros/Cons
	#1	17%	B	Customer Service	State Farm
	#2	24%	A+	Custom Policies	Nationwide
	#3	9%	A+	Financial Stability	Prudential
	#4	11%	A	Retirement Planning	Transamerica
	#5	14%	A	Term Life	AIG
	#6	8%	A++	Whole Life	New York Life
	#7	11%	A+	Final Expense	Mutual of Omaha
	#8	13%	A+	Term Policies	Lincoln Financial
	#9	9%	A+	Affordable Options	Banner Life
	#10	20%	A	Bundling Discounts	Farmers

Getting affordable life insurance with a medical issue can be a challenge, but it’s not impossible. Use our free quote comparison tool to find the lowest rates.

What You Should Know

• Tennessee term rates: $16-$26 monthly, whole life: $83-$157
• State Farm leads with 127 local offices and bilingual support
• Save 24% through bundling, plus $40-$48 monthly healthy lifestyle discounts

#1 – State Farm: Best for Customer Service

Pros

• Local Support: State Farm maintains 127 local insurance offices across Tennessee to provide face-to-face policyholder assistance.
• Service Quality: Tennessee policyholders can access bilingual customer service representatives through 14 dedicated regional centers, as highlighted in State Farm insurance customer reviews.
• Policy Value: State Farm's $122 whole life policy includes free financial consulting services for Tennessee families, making it a strong option for those seeking the best life insurance Tennessee offers.

Cons

• Digital Limitations: Tennessee policyholders cannot perform beneficiary changes through State Farm's mobile application system.
• Processing Time: Life insurance claims in Tennessee take 14-21 business days for complete processing.

#2 – Nationwide: Best for Custom Policies

Pros

• Flexible Options: Tennessee residents can combine up to five different life insurance riders within one customized policy, as noted in the Nationwide review.
• Coverage Features: Nationwide offers Tennessee families unique critical illness benefits up to $50,000 with life policies.
• Bundle Benefits: The Tennessee policyholder saves 24% when bundling home, auto, and $131 whole life insurance.

Cons

• Premium Costs: Applicants under 30 years pay 15% more than the regional average for term policies, which shows that life insurance in Tennessee is a bit costlier compared to other surrounding states
• Qualification Process: Tennessee applicants must complete medical exams within 48 hours of policy application submission.

#3 – Prudential: Best for Financial Stability

Pros

• Investment Security: Prudential maintains $1.4 trillion in assets, securing policy benefits for Tennessee customers.
• Growth Options: According to the Prudential review, Tennessee policyholders earn a 4.2% guaranteed annual interest rate on whole life cash values.
• Market Position: Prudential's A+ rating ensures Tennessee clients' $126 whole life policies remain financially protected.

Cons

• Service Access: Tennessee policyholders wait an average of 72 hours for specialized advisor appointment scheduling.
• Policy Changes: Beneficiary modifications for Tennessee policies require 15 business days for complete processing.

#4 – Transamerica: Best for Retirement Planning

Pros

Retirement Integration: Tennessee policyholders aged 50+ receive complimentary retirement planning sessions with certified advisors (Read More: Planting for your financial future with insurance).

• Affordable Plans: Transamerica offers Tennessee residents term life at $16 with guaranteed renewal options.
• Investment Tools: Tennessee clients access exclusive retirement calculators that integrate social security and policy benefits.

Cons

• Limited Offices: Transamerica operates only three physical service centers across Tennessee's major metropolitan areas.
• Plan Complexity: Tennessee policyholders must complete 2-hour training to understand retirement-linked policy features.

#5 – AIG: Best for Term Life

Pros

• Term Options: Tennessee residents choose from 10-30-year terms with guaranteed level premiums starting at $22.
• Conversion Rights: AIG allows Tennessee policyholders to convert term policies before age 70 without medical exams.
• Rate Stability: Tennessee customers receive a 5-year rate lock guarantee regardless of health changes, according to our AIG review, ensuring stability and peace of mind for policyholders.

Cons

• Customer Interface: Tennessee clients report average 45-minute wait times for online chat support assistance.
• Response Times: Policy service requests from Tennessee customers require 5-7 business days for completion.

#6 – New York Life: Best for Whole Life

Pros

• Cash Value: Tennessee policyholders' $157 whole life policies earn dividends after the first policy year.
• Dividend History: Tennessee customers received average annual dividend payments of 7.2% last fiscal year.
• Policy Stability: New York Life guarantees Tennessee residents' death benefits doubled after 25 years (Read More: In the Event of Death, These Life Insurance Companies Will Pay Out Within 10 Days).

Cons

• Initial Cost: Tennessee whole life premiums cost 23% above the state average for similar coverage.
• Agent Availability: Tennessee's 45 authorized agents serve an average of 2,500 policyholders each.

#7 – Mutual of Omaha: Best for Final Expense

Pros

• Quick Approval: Tennessee seniors receive final expense policy decisions within 24 hours of application submission.
• Accessible Coverage: Tennessee residents aged 45-85 qualify without medical exams for up to $40,000 coverage.
• Competitive Rates: $95 whole life policies include immediate coverage for Tennessee applicants with health conditions.

Cons

• Coverage Limits: Tennessee's final expense policies cap at $40,000, below the competitor's average of $50,000, making it important to compare options when considering life insurance companies that cover funeral expenses for adequate coverage.
• Age Restrictions: Tennessee applicants over 85 cannot qualify for new final expense coverage.

#8 – Lincoln Financial: Best for Term Policies

Pros

• Rate Competitiveness: Lincoln Financial offers Tennessee residents $20 term rates locked for 20 years.
• Term Flexibility: Tennessee policyholders can adjust coverage amounts every five years without new medical exams.
• Conversion Benefits: Tennessee clients convert term policies to permanent coverage at original health ratings (Read More: Modified Life Insurance: Everything You Want to Know).

Cons

• Support Hours: Tennessee customer service operates limited hours from 8 am to 6 pm Eastern Time.
• Digital Tools: Tennessee policyholders cannot submit claims through Lincoln Financial's online portal.

#9 – Banner Life: Best for Affordable Options

Pros

• Low Rates: Banner Life's $83 whole life policies rank lowest among Tennessee's top ten providers.
• Simple Process: Tennessee applicants receive policy decisions within 48 hours using accelerated underwriting.
• Value Options: Tennessee residents under 40 save 40% on term life premiums compared to the state average, with age affecting life insurance rates playing a significant role in determining premiums. This factor is crucial when selecting the right life insurance coverage in Tennessee.

Cons

• Limited Features: Tennessee policies exclude common riders like disability income and critical illness coverage.
• Service Network: Banner Life employs only 25 licensed agents across Tennessee's 95 counties.

#10 – Farmers: Best for Bundling Discounts

Pros

• Discount Value: Tennessee policyholders save 20% when bundling life insurance with auto and home coverage.
• Package Options: Farmers offers Tennessee families six customizable multi-policy insurance packages with life coverage, making it a strong contender when exploring the best life insurance for parents who want tailored protection for their family's future.
• Savings Growth: In Tennessee, customers get an additional 2% discount every year for maintaining bundled policies.

Cons

• Base Rates: Whole life policies in Tennessee start at $145, which is the third highest among the top providers.
• Coverage Gaps: Tennessee bundle packages exclude certain life insurance riders that are available in standalone policies.

Life Insurance Coverage Options & Costs in Tennessee

The best life insurance companies in Tennessee offer diverse policy options to meet varying coverage needs and budgets. When you compare the best life insurance providers in Tennessee based on their rates and coverage options, you'll find that term policies range from $16 to $26 and whole life policies from $83 to $157. See the table below for monthly rates from top insurers:

How much life insurance do you need in Tennessee depends on various factors, including your financial obligations and family situation. To understand What is the average monthly cost of life insurance in Tennessee, note that term policies average around $20.80 monthly, while whole life policies average approximately $119.80.

Insurance Company	Term Policy	Whole Policy
	$22	$125
	$18	$83
	$26	$145
	$20	$110
	$17	$95
	$24	$131
	$23	$157
	$22	$126
	$20	$122
	$16	$104

How to find the best life insurance company for you involves comparing these rates - for instance, Transamerica offers the most affordable term policy at $16, while Banner Life provides the most competitive whole life coverage at $83, though companies like State Farm and Nationwide may offer better overall value when considering their additional benefits and coverage features.

Read More: Term vs. Whole Life Insurance: How to Choose the Best Option

Life Insurance Policy Types in Tennessee

Among the largest life insurance companies in Tennessee, nine out of ten insurers offer comprehensive coverage options, including term, whole, universal, and final expense policies.

Insurance Company	Term Life	Whole Life	Universal Life	Final Expense	No-Medical-Exam
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	❌
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	✅

When exploring the best no medical exam life insurance options, it is worth noting that only Banner Life does not have such a convenient type of coverage, while the absolute leaders in the market propose all five categories of policy.

With such a wide array of options, residents in Tennessee can choose a policy that fits their health status, financial goals, and specific insurance needs. Although most traditional policies require a life insurance blood test, most major carriers offer flexible underwriting approaches to accommodate different applicant situations.

Life Insurance Discounts & Rate Factors in TN

The factors that impact the cost of life insurance in Tennessee are clearly reflected in providers' discount structures, with non-smoker rates offering savings between $40-$48 monthly. Under Tennessee life insurance laws, insurers must provide transparent discount options, which currently show loyalty rewards offering the highest savings at $46-$55 monthly.

Insurance Company	Non-Smoker	Healthy Lifestyle	Bundling	Loyalty	Automatic Payment
	$45	$47	$50	$52	$49
	$40	$42	$44	$46	$43
	$48	$50	$53	$55	$52
	$43	$45	$47	$49	$46
	$41	$44	$46	$48	$45
	$42	$45	$48	$50	$46
	$47	$49	$52	$55	$50
	$44	$47	$50	$52	$48
	$46	$48	$51	$53	$49
	$42	$45	$48	$50	$46

For life insurance companies that specialize in higher risk cases, firms like Farmers and New York Life maintain competitive rates despite the elevated risk, offering healthy lifestyle discounts at $50 and $49 respectively, while automated payment options can save policyholders an average of $47 monthly across all providers.

Finding Your Best Life Insurance Match in Tennessee

Among the best life insurance companies in Tennessee, 3 providers stand out for their exceptional offerings. State Farm claims the top position as best overall, distinguished by its extensive network of 127 local offices across Tennessee and unique bilingual customer service through 14 dedicated regional centers.

Nationwide emerges as the best overall runner-up, setting itself apart with the industry's highest bundling discount of 24% and the ability to combine up to five different insurance riders in a single policy. Rounding out the top three is Prudential, differentiated by its impressive $1.4 trillion in assets and industry-leading 4.2% guaranteed annual interest rate on whole life cash values.

Each of these top providers does something a little better than anyone else: Great local presence with personalized service, unmatched policy options for customization in Nationwide, or superior financial stability with Prudential.All these advantages listed will help one in Tennessee decide on coverage that best fits an individual's given insurance priorities. Free instant life insurance quotes are just a click away. Enter your ZIP code to get started.