10 Best Life Insurance Companies in Tennessee

Life insurance companies in Tennessee can help protect you and your family.

You’re our first priority. We want you to understand how we make money. This post may contain affiliate links. Biglaw Investor may receive a commission at no additional cost to you if you click on the links in this article. This may influence which products we write about and where and how the products appear on a page. However, it does not influence our evaluations. Our opinions are our own. In some circumstances, if you work with us, we are able to provide an incentive to work with our advertising partners that is unavailable if you work with our advertising partners directly. Our partners cannot pay us to guarantee favorable reviews of their products or services. To read more about how we make money, click here.

Find a Life Insurance policy

Find a policy for you

Lawyers dominate the law. But, an expert in life insurance? That’s not you. We weren’t either. That’s why we provide you with tons of content so you can learn everything you need to know about buying a life insurance policy.

When you’re ready to compare quotes, our unbiased technology searches over 100 insurance companies to instantly find you the lowest rates available. Give it a try.

Compare Quotes

We Compare Top Insurance Companies

Lincoln logo Banner logo Protective logo Pacific Life logo Principal logo Mass Mutual logo Prudential logo

And many more

Other lawyers love us.

We think you will too.

Let’s Get Started
Patrick Waldrop

I got both life insurance and disability insurance from Pradeep Audho. He was really great to work with. Very knowledgeable and helpful without ever being too pushy.” —Patrick Waldrop

Randall Faircloth

Pradeep is incredibly knowledgeable and walked me through several disability policy scenarios and helped me understand the coverages and nuances of the product. More important to me, he continues to be valuable resources for my wife and I when we have questions. Put simply, he’s earned my trust.” —Randall Faircloth

10 Best Life Insurance Companies in Tennessee

Key Terms

  • Life Insurance is a type of insurance that covers the final expenses that arise when somebody dies.
  • Life insurance coverage is the best way to protect your loved ones when you pass away.
  • Tennessee life insurance companies can help you find a policy to suit your needs and budget.

Tennessee is known as the Volunteer State and is located in the southeastern region of the United States. It’s bordered by Kentucky and Virginia to the north, North Carolina to the east, Georgia, Alabama, and Mississippi to the south, and Arkansas and Missouri to the west. With a population of 6.77 million people, it’s the 16th-most populous state. The largest city in Tennessee is Nashville which has a population of 681,928 residents. Nashville is also the state capital.

According to the Centers for Disease Control and Prevention (CDC), the average life expectancy in Tennessee is approximately 73.8 years which is significantly lower than the national average life expectancy, which is currently around 79.05 years in the United States. Over the past few years, the leading causes of death in Tennessee have been heart disease, cancer, and Covid-19. The homicide rate in Tennessee is around 11.5 homicides per 100,000 residents, which is higher than the national average of 7.5.

According to the U.S. Bureau of Labor Statistics, in Tennessee, the 90th percentile income is currently $81,220. The median income in the state is approximately $37,700. Most financial advisors recommend purchasing a life insurance plan that covers your loved ones for between 10X and 20X your annual salary. In Tennessee, this works out to around $812,200 – $1,624,400 dollars for most people.

Show Me Life Insurance Companies

How life insurance works in Tennessee

Life insurance is typically straightforward and easy to understand. The way it works is that you pay a premium for a policy, and if you die during the term of the policy, your beneficiaries are paid a death benefit. This is typically a lump sum of money that is paid out to your loved ones. The money can be used for anything they see fit, including funeral expenses, debts, living expenses, or anything else.

There are two main types of life insurance: term life insurance and whole life insurance. Term life insurance provides coverage for a specific period of time, usually 10-30 years. Once this term expires, so does your coverage. If you die during the term of the policy, your beneficiaries will receive the death benefit.

Whole life insurance provides coverage for your entire life. As long as you continue to pay the premiums, your beneficiaries will receive the death benefit when you die. Whole life policies tare more expensive but they are permanent which means that as long as you pay your premiums your policy won’t expire.

Most people opt to purchase term life insurance. Term life insurance is more affordable and doesn’t mix investing with insurance. If you’re not sure which type of life insurance is best for your situation, then it’s always best to speak with an independent insurance agent about your options.

10 Biggest life insurance companies in Tennessee

Tennessee life insurance companies ranked by premiums written in the state.

RankCompany NameTennessee
Premiums Written
Market Share
1Northwestern Mutual$254,975,1396.98%
3New York Life$188,453,6915.16%
4Tennessee Farmers$174,898,3604.79%
6Mass Mutual Life Ins$172,470,1994.72%
7Lincoln National$145,139,3293.97%
8State Farm$140,813,6283.85%
9Minnesota Mutual$99,936,0782.73%

Get Instant Term Life Insurance Quotes

How much life insurance do you need in Tennessee?

The 90th percentile salary in Tennessee is approximately $81,220. As mentioned, most financial advisors recommend that you purchase a life insurance policy that will cover your beneficiary for at least 10X – 20X your average annual income. In Tennessee that works out to around $812,200 – $1,624,400. This amount will ensure that your loved ones can continue to pay their bills, settle your debts, and cover the cost of your final expenses.

You may also want to purchase additional life insurance to cover:

  • Your mortgage (if you want your spouse and kids to be able to live in the home without worrying about mortgage payments)
  • Children’s education costs (if you want your child’s education to be covered without any additional stress to your spouse)
  • Bereavement therapy costs for your spouse and children (if you want them to spend time with a therapist after your unexpected death)
  • Any other expenses that may be unique to your family or lifestyle

Tennessee life insurance laws

There are a few unique features with respect to Tennessee Life Insurance Laws via the Tennessee Department of Commerce website (tn.gov) that have an impact on your specific policy if you are a resident of the state.

Here’s what you need to know when looking at life insurance quotes:

  • Free look period: Also known as the free examination period, this is the period after enrollment given to policyholders to review their coverage amount and request a no penalty refund if they are not satisfied with the terms. In Tennessee, the free look period is 10 days.
  • Grace period for missed payments: If you miss a life insurance payment in Tennessee, you will be given 31 days to make the payment. During this period your coverage will remain in effect. After this period, your insurance agency has the right to cancel your policy.
  • Time allowable to settle a claim: Life insurance companies in Tennessee have 60 days to process and pay death claims to beneficiaries. They will need to pay interest if it takes longer.
  • Contestable period: In Tennessee, the contestable period for life insurance is two years. In this period, your insurance provider may decline to pay out your claim due to material misrepresentation on your application.

Life insurance is an important part of your financial planning, and it’s something that everyone should consider. If you’re not sure where to start, talk to your financial advisor or an insurance agent about your options. They can help you understand the different types of policies available and how they work. And once you have a policy in place, be sure to review it regularly to make sure it still meets your needs.

Looking for life insurance companies in a different state?

If you want to find the best life insurance companies in other states, click on your state below.

Compare Quotes from 100+ Companies

Joshua Holt is a licensed insurance agent (License #2785989) and founder of Biglaw Investor and Sidebar Insurance LLC, an insurance agency created by lawyers, for lawyers. His insurance expertise lies in the areas of life and disability insurance, particularly covering lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.

Save more money than your friends

One email each week covers personal finance, financial independence, investing and other stuff for lawyers that makes you better.