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. Get discounts from these life insurance companies for being healthy to save more money.

Use this guide to find detailed comparisons of rates, coverage options, and unique benefits from the state's top ten life insurance companies.

Company	Rank	Bundling Discount	A.M. Best	Best For	Jump to Pros/Cons
	#1	17%	A++	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	Rate Stability	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	No Medical Exam	Farmers

Getting affordable TN 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 life insurance rates range fom $16-$26 monthly
• State Farm leads with 127 local offices and bilingual support
• Save 24% through bundling policies, plus $40-$48 a month with 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 customer reviews.
• Policy Value: State Farm's $122 a month whole life policy includes free financial consulting services for Tennessee families.

Cons

• Digital Limitations: Tennessee policyholders cannot make changes to their life insurance policies 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.
• Coverage Features: Nationwide offers Tennessee families unique critical illness benefits on life insurance, up to $50,000.
• Bundle Benefits: Tennessee policyholders save 24% when bundling multiple policies. See more discounts in our Nationwide review.

Cons

• Premium Costs: Applicants under 30 years pay 15% more than the regional average for Tennessee life insurance rates.
• Qualification Process: Tennessee life insurance 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 and a superior A+ A.M. Best rating, securing policy benefits for Tennessee customers.
• Growth Options: Tennessee policyholders earn a 4.2% guaranteed annual interest rate on whole life cash values.
• Flexible Underwriting: According to Prudential Insurance reviews, Tennessee residents with pre-existing conditions get better rates..

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 over 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 monthly with guaranteed renewal options.
• Investment Tools: Tennessee clients access exclusive life insurance calculators that integrate social security benefits with their policy.

Cons

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

#5 – AIG: Best for Rate Stability

Pros

• Rate Stability: Tennessee customers receive a five-year rate lock guarantee regardless of health changes.
• Term Options: Tennessee residents choose from 10-30-year terms with guaranteed level premiums starting at $22 per month.
• Conversion Rights: AIG allows Tennessee policyholders to convert term policies before age 70 without medical exams.

Cons

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

#6 – New York Life: Best for Whole Life

Pros

• 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.
• Claim Processing: Life insurance beneficiaries in Tennessee will receive payouts within 7 days with direct deposit (Read More: These Life Insurance Companies Will Pay Out Within 10 Days).

Cons

• Initial Cost: Tennessee whole life insurance rates 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: Whole life policies include immediate coverage for Tennessee applicants with health conditions, starting at $95 per month.

Cons

• Coverage Limits: Tennessee's final expense policies cap at $40,000, below the average of $50,000. Compare 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 a month 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: Lincoln Financial life insurance customer service in Tennessee operates limited hours from 8 a.m. to 6 p.m. 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: For cheap life insurance in Tennessee, Banner Life's whole life policies for $83 per month are the lowest on this list.
• 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. Learn how age affects life insurance rates.

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 No Medical Exam

Pros

• No Medical Exam: Farmers offers up to $150,000 in term life insurance in Tennessee without a medical exam.
• Discount Value: Policyholders save 20% when bundling Tennessee life insurance with auto or home coverage.
• Package Options: Farmers offers six customizable multi-policy life insurance packages in Tennessee with life coverage, making it one of the best life insurance for parents.

Cons

• Base Rates: Whole life policies in Tennessee start at $145 monthly, which is the third highest among the top providers.
• No Other Discounts: Insurance bundling is the only discount available on Farmers life insurance in Tennessee.

Life Insurance Coverage Options & Costs in Tennessee

What is the average monthly cost of life insurance in Tennessee? When you compare the best life insurance providers based on rates and coverage options, you'll find that term policies range from $16 to $26 per month and whole life policies from $83 to $157 monthly. See the table below for monthly rates from top insurers:

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

Transamerica offers the most affordable term policy at $16 per month, while Banner Life provides the most competitive whole life coverage at $83 a month, though companies like State Farm and Nationwide may offer better overall value when considering their additional benefits and coverage features.

How much life insurance you need in Tennessee depends on various factors, including your financial obligations and family situation. Check out our term vs. whole life insurance guide to choose the best option for you.

Life Insurance Policy Types in Tennessee

Among the largest life insurance companies in Tennessee, each one offers a variety of policies. Banner Life is the only TN life insurance company that doesn't offer coverage without a medical exam.

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

In Tennessee, the best no medical exam life insurance options are Farmers, Mutual of Omaha, and Nationwide. State Farm also offers final expense coverage without a medical exam for applicants up to the age of 80.

We're honored! State Farm has been ranked #1 in Customer Satisfaction among Life Insurance Providers 3 years in a row and Best in Product Offerings by J.D. Power. Call your agent or click to get a quote today. https://t.co/qWy8GXkArU pic.twitter.com/ug4MT7a43r

— State Farm (@StateFarm) January 16, 2023

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. Many providers also offer life insurance add-ons, such as critical illness riders or accidental death benefits, allowing Tennesseans to customize their coverage for added financial protection.

Although most traditional policies require a life insurance blood test, most major carriers offer flexible underwriting approaches to accommodate different applicant situations.

How to Qualify For Life Insurance Discounts in Tennessee

The factors that impact the cost of life insurance in Tennessee are clearly reflected in providers' discount structures, with non-smoker and healthy living discounts offering some of the biggest savings.

Insurance Company	Good Health	Employer-Sponsored	Non-Smoker	Healthy Lifestyle	Family History
	14%	30%	20%	7%	20%
	12%	7%	12%	7%	10%
	13%	9%	8%	7%	10%
	15%	6%	15%	7%	12%
	14%	9%	10%	7%	5%
	14%	9%	12%	7%	5%
	15%	10%	10%	7%	10%
	14%	30%	20%	7%	20%
	12%	10%	8%	10%	15%
	14%	9%	20%	7%	5%

For life insurance companies that specialize in higher risk cases, providers like Farmers and New York Life maintain competitive rates despite the elevated risk, offering healthy lifestyle discounts of 7%, while non-smoker discounts reach up to 20% with AIG and Prudential.

Under Tennessee life insurance laws, insurers must provide transparent discount options, with employer-sponsored discounts offering the highest savings at 30%, available through AIG and Prudential.

Finding Your Best Life Insurance Match in Tennessee

Among the best life insurance companies in Tennessee, three providers stand out for their exceptional offerings. State Farm claims the top position with the best life insurance in Tennessee, distinguished by its extensive network of local offices across the state and 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.

All of these listed companies will help you decide on the best Tennessee life insurance coverage for your family. Enter your ZIP code to get free quotes from local providers today.