Best Life Insurance in Louisiana for 2025 (Top 10 Companies Ranked)

Prudential, AARP, and Mutual of Omaha have the best life insurance in Louisiana. Term life rates are as low as $15 per month with 15-20% bundling discounts.

Prudential offers digital policy management and customizable term life, while AARP has guaranteed acceptance of up to $25,000 for members over 50.

Company	Rank	Bundling	A.M. Best	Best For	Jump to Pros/Cons
	#1	10%	A+	Customized Terms	Prudential
	#2	10%	A++	Senior Benefits	AARP
	#3	8%	A+	High-Risk Jobs	Mutual of Omaha
	#4	15%	A++	Trusted Support	New York Life
	#5	12%	A++	Reliable Dividends	MassMutual
	#6	12%	A++	Doctors & Lawyers	Guardian Life
	#7	9%	A	Hybrid Policies	Transamerica
	#8	10%	A+	High-Value Coverage	Lincoln Financial
	#9	17%	A++	Bundle Discounts	State Farm
	#10	10%	A	Affordable Rates	Banner Life

Keep reading to learn how much life insurance costs and to see when a health test is needed at the top life insurance companies in Louisiana.

Shop around for personalized life insurance quotes that fit your needs and budget by entering your ZIP code.

What You Should Know

• AARP has the best life insurance for seniors in Louisiana
• Banner Life has the cheapest Louisiana life insurance at $15 a month for term life
• Coastal locations can increase your Louisiana life insurance costs

#1 – Prudential: Top Overall Pick

Pros

• Customizable Term Life: Its rates start at $17 monthly in Louisiana, with options to add critical illness coverage for an extra $5-10 monthly. Learn more in our Prudential insurance review.
• Online Portal: The online portal lets Louisiana customers adjust coverage and beneficiaries instantly, with 24/7 customer support.
• Local Agent Support: Local agents in New Orleans, Baton Rouge, and Shreveport offer complimentary policy reviews every six months.

Cons

• Rate Increases: Term life rates can jump by 50-75% after the initial period ends in Louisiana.
• Limited Rural Coverage: Only 12 insurance agents serve Louisiana's rural parishes, leading to longer wait times.

#2 – AARP: Best for Seniors

Pros

• Guaranteed Acceptance: Louisiana members aged 50+ get guaranteed acceptance on policies up to $25,000, regardless of health.
• Quick Claims Processing: The dedicated support team in Baton Rouge processes Louisiana life insurance claims within 5-7 business days.
• Conversion Options: Convert any term policy to permanent coverage before age 70 without a new medical exam (Read More: The Best No Medical Exam Life Insurance Options).

Cons

• Membership Required: Must join AARP first ($16 annual fee) to buy life insurance in Louisiana.
• Coverage Limits: Coverage tops at $100,000, while other Louisiana insurers offer up to $1 million.

#3 – Mutual of Omaha: High-Risk Jobs

Pros

• Occupation Rates: Offers special rates for Louisiana oil rig and shipping workers, with coverage starting at $22 a month.
• Bundle Savings: Louisiana families can bundle life insurance with long-term care coverage. It is also one of the best life insurance companies that allow long-term care withdrawals.
• Multilingual Support: Spanish and Vietnamese-speaking agents available in major Louisiana cities.

Cons

• Coastal Pricing: Coastal parish residents pay 25-40% more for coverage due to environmental risks.
• Medical Requirements: Medical exam requirements start at $50,000 coverage versus $100,000+ with competitors.

#4 – New York Life: Best for Trusted Support

Pros

• Extensive Network: 150+ years serving Louisiana families with local offices in 42 parishes for in-person support.
• Agent Support: As one of the best life insurance companies for independent agents, it features 85 agents across Louisiana who provide free annual policy reviews.
• Guaranteed Returns: Whole life policies in Louisiana offer 4.2% guaranteed return rates on investments.

Cons

• Credit Requirements: Requires credit scores above 650 to get the best Louisiana life insurance rates.
• Processing Time: New customers often wait 2-3 weeks for policy approval, while competitors average 5-7 days.

#5 – MassMutual: Best for Dividend Payments

Pros

• Dividend History: Paid $125 million in dividends to Louisiana policyholders in 2024, averaging $1,200 per customer.
• Business Options: Small business owners in Louisiana can combine life and disability coverage, saving 25% annually (Read More: Best Life Insurance Companies for Disabled Children).
• Financial Strength: Maintains $15 billion in reserves, ensuring reliable claim payments for Louisiana families.

Cons

• Limited Online Services: Must call local agents for policy changes since online services are limited in Louisiana.
• Higher Minimums: Minimum monthly premiums start at $75 in Louisiana, higher than the $50 state average.

#6 – Guardian Life: Best for Doctors and Lawyers

Pros

• Occupation Coverage: Louisiana doctors and lawyers get occupation-specific disability riders for just $10 extra monthly.
• Combined Savings: Offers savings when combining life insurance with car insurance in Louisiana.
• Estate Planning: Provides free estate planning services for policies over $500,000 in Louisiana.

Cons

• Limited Offices: Only eight offices serve Louisiana, mostly in larger cities like New Orleans and Baton Rouge.
• Strict Screening: Medical screening requirements are stricter, with blood tests needed for coverage above $100,000.

#7 – Transamerica: Best for Hybrid Policies

Pros

• Hybrid Plans: As one of the life insurance companies that offer hybrid life insurance/long-term care policies, seasonal workers in Louisiana can choose policies that align with their income.
• Affordable Terms: Term life policies start at $19 a month for Louisiana families under 35.
• Quick Approval: Approves term life policies within 48 hours for Louisiana residents under 45.

Cons

• Coverage Caps: Whole life coverage in Louisiana caps at $250,000, while competitors offer up to $1 million.
• Geographic Limitations: No coverage available in Cameron and Plaquemines parishes due to flood risks.

#8 – Lincoln Financial: Best for High-Value Policies

Pros

• High Coverage: High-value policies up to $5 million are available for Louisiana residents without extra requirements.
• Health Consideration: Offers 15% lower rates for Louisiana applicants with controlled diabetes or high blood pressure.
• Business Coverage: Louisiana business owners get special rates on key person insurance, starting at $45 per month.

Cons

• Slow Processing: The application process takes 15-20 days in Louisiana, longer than the 10-day state average.
• Limited Access: Must use independent agents in Louisiana, with no direct purchasing options (Read More: How to Become an Independent Life Insurance Agent).

#9 – State Farm: Best for Bundle Savings

Pros

• Bundle Discounts: As mentioned in our State Farm insurance review, you can bundle life insurance with auto or home policies and save up to 17% in Louisiana.
• Quick Claims: Local claims offices process payouts within 3 days, faster than the 7-day state average.
• Agent Network: Locals can access 250+ support agents across Louisiana's 64 parishes who provide in-person support.

Cons

• Higher Rates: Louisiana term life rates average $27 a month, about $8 higher than competing insurers.
• Limited Tools: Online tools are limited to essential policy viewing for Louisiana customers.

#10 – Banner Life: Best for Affordable Terms

Pros

• Low Rates: Lowest term life rates in Louisiana at $15 per month for healthy applicants aged 25-45.
• No-Exam Options: No-exam policies up to $100,000 are available for Louisiana residents under 50.
• Senior Rates: Special rates for Louisiana seniors aged 65-75, starting at $89/month for $50,000 coverage. Banner Life is one of the best life insurance companies that cover funeral expenses.

Cons

• Single Office: Only one physical life insurance office in Louisiana, located in New Orleans.
• Limited Customization: Can't customize policies with popular riders available from other Louisiana insurers.

Cost of Life Insurance in Louisiana

In Louisiana, life insurance prices change with each coverage plan and insurer. A term plan averages around $22 a month, and a whole-life plan charges $70 per month. Banner Life offers the most competitive rates for term life coverage, starting at $15 per month, while Prudential and Lincoln Financial follow closely at $17 and $18 monthly, respectively.

Insurance Company	Term Policy	Whole Policy
	$24	$70
	$15	$60
	$22	$73
	$18	$69
	$26	$75
	$20	$68
	$29	$80
	$17	$65
	$27	$71
	$19	$66

Whole life insurance shows a broader price range, with Banner Life at $60 monthly, Prudential at $65, and Transamerica at $66. New York Life has the highest rates for both policy types, with term life at $29 and whole life at $80 monthly.

Life insurance rates can change with age, location, state of health, and the coverage amount. Coastal parish residents typically face 10-15% higher premiums due to environmental risks, while healthy individuals can secure 25-30% discounts on monthly rates through wellness programs.

Types of Life Insurance Coverage Available in Louisiana

Most life insurance companies in Louisiana offer multiple types of policies. Before you buy a policy, you should know about the benefits of life insurance. Many insurers require a life insurance exam, but some providers now offer no-exam options for qualifying applicants.

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

It is essential to compare multiple providers and policy types. A life insurance policy in Louisiana typically falls into one of five categories: term life, whole life, universal life, final expense, and no-medical-exam coverage.

Term life offers temporary coverage at lower rates, while whole life provides lifetime protection with a cash value component. Universal life combines flexibility with investment options, and final expense policies help cover end-of-life costs.

Louisiana Life Insurance Discounts & Savings

Those who maintain a life insurance policy in Louisiana can receive 15% savings through automatic payment discounts and up to 25% with loyalty rewards after five years.

Insurance Company	Non-Smoker	Healthy Lifestyle	Bundling	Loyalty	Automatic Payment
	10%	15%	10%	20%	5%
	12%	18%	15%	22%	7%
	15%	20%	12%	18%	10%
	14%	19%	10%	25%	8%
	10%	15%	20%	30%	10%
	13%	17%	15%	20%	12%
	12%	18%	10%	25%	10%
	10%	14%	15%	22%	8%
	15%	20%	13%	18%	10%
	11%	16%	12%	25%	9%

Some insurers give discounts based on a person's job, such as healthcare workers, teachers, and first responders, with monthly rates reduced by 10% to 20%. Most life insurance companies in Louisiana offer significant bundling discounts of 10-17% when combining life coverage with home or auto policies.

Beyond traditional discounts, Louisiana residents can reduce costs by purchasing coverage earlier in life, as rates typically increase 8-10% each year with age. Those applying for life insurance and scoring well on their life insurance exam in Louisiana can save 20-30% through preferred health ratings.

Choosing Your Louisiana Life Insurance Company

Prudential, AARP, and Mutual of Omaha lead with the best life insurance in Louisiana. They stand out for their diverse policy options, guaranteed acceptance for those over 50, and specialized coverage for high-risk maritime workers.

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When choosing cheap life insurance in Louisiana, consider factors like policy type, coastal location premiums, and available discounts that can significantly impact your rates. Enter your ZIP code into our free quote comparison tool to instantly compare Louisiana life insurance quotes.