Best Life Insurance in Memphis, TN (November 2024)

The best life insurance company in Memphis, Tennessee, differs for men and women based on MoneyGeek scores. For men, the top company is Mutual of Omaha with a MoneyGeek score of 91 and a monthly premium of $26. For women, the best option is Protective with a MoneyGeek score of 92 and a monthly premium of $18.

Different factors should be considered when deciding on what type of life insurance to buy. These scores and premium costs are based on a 20-year term policy and $500,000 coverage. Your unique needs may mean a different company is best for you.

Protective offers the best life insurance for women in Memphis with a MoneyGeek score of 92 and a monthly premium of $18. For men, Mutual of Omaha leads with a MoneyGeek score of 91 and a monthly premium of $26.

The top providers for men are:

• Mutual of Omaha: MoneyGeek score of 91 out of 100 at $26 per month for men
• Protective: MoneyGeek score of 91 out of 100 at $27 per month for men

The top providers for women are:

• Protective: MoneyGeek score of 92 out of 100 at $18 per month for women
• Mutual of Omaha: MoneyGeek score of 90 out of 100 at $23 per month for women

Mutual of Omaha and Protective stand out due to their high MoneyGeek scores and competitive premiums. These companies offer a balance of affordability, customer satisfaction, and financial stability, making them ideal choices for the average person seeking life insurance in Memphis.

The Mutual of Omaha offers the best term life insurance for men in Memphis, with a MoneyGeek score of 92 and a monthly premium of $11. For women, Protective leads with a score of 92 and a monthly premium of $9. These scores reflect the companies' exceptional balance of affordability, customer satisfaction, and financial stability, making them ideal for individuals seeking reliable term life insurance coverage in Memphis. Learn more about the best term life insurance.

Top MoneyGeek scores for term life insurance in Memphis:

• Mutual of Omaha: MoneyGeek score of 92 out of 100 at $11 per month for men
• Protective: MoneyGeek score of 92 out of 100 at $9 per month for women
• Protective: MoneyGeek score of 91 out of 100 at $12 per month for men
• Mutual of Omaha: MoneyGeek score of 91 out of 100 at $10 per month for women

Term life insurance is a policy where a beneficiary receives a payout if the insured person dies within a specified term. It is often chosen for its simplicity and lower cost compared to whole life insurance. For example, a parent might buy term insurance to ensure their child's education is funded in the event of their untimely death.

For those seeking the best whole life insurance in Memphis, Protective stands out with a MoneyGeek score of 92 for men and women. This company offers a strong combination of affordability, customer satisfaction and financial stability.

• Protective: MoneyGeek score of 92 out of 100 for men

• Mutual of Omaha: MoneyGeek score of 91 out of 100 for men

• Protective: MoneyGeek score of 92 out of 100 for women

• Mutual of Omaha: MoneyGeek score of 91 out of 100 for women

Whole life insurance is a permanent policy that provides coverage for the life of the insured, as long as premiums are paid. It can be an attractive option for those who want the security of a fixed premium and a cash value component that grows over time. For example, someone might prefer whole life insurance to ensure they leave a legacy for their heirs, regardless of how long they live.

Protective provides the best universal life insurance in Memphis for men and women, boasting a MoneyGeek score of 91. The company's high scores suggest it provides excellent customer satisfaction, a smooth buying process, and strong financial stability.

The top providers for men are:

• Protective: MoneyGeek score of 91 out of 100 for men
• Mutual of Omaha: MoneyGeek score of 90 out of 100 for men

The top providers for women are:

• Protective: MoneyGeek score of 91 out of 100 for women
• Mutual of Omaha: MoneyGeek score of 90 out of 100 for women

Universal life insurance is a flexible policy that allows policyholders to adjust their premiums and death benefits. For example, someone might prefer universal life insurance for its potential cash value growth, which can serve as an additional financial resource in retirement.

In Memphis, Protective stands out as the provider with the life insurance without a required medical exam for men and women, with a MoneyGeek score of 91. This score indicates a strong balance of affordability, customer satisfaction, and financial stability. The top MoneyGeek scores in Memphis are as follows:

The top providers for men are:

• Protective: MoneyGeek score of 91 out of 100 for men
• Mutual of Omaha: MoneyGeek score of 90 out of 100 for men

The top providers for women are:

• Protective: MoneyGeek score of 91 out of 100 for women
• Mutual of Omaha: MoneyGeek score of 90 out of 100 for women

No-medical-exam life insurance allows individuals to obtain coverage quickly and without the need to undergo a health assessment. For example, someone with a busy schedule or a dislike of medical exams might opt for this type of insurance to save time and avoid discomfort.

For those in search of the best term life insurance for seniors in Memphis, Protective stands out with the highest MoneyGeek score of 92 for men and women. Men can expect a monthly premium of $44, while women are quoted at $39.

Age influences life insurance premiums because it correlates with the insurer's risk; older individuals often face higher rates due to increased health risks. Protective's top score signifies a balance of affordability, customer satisfaction, and financial stability, crucial for seniors prioritizing security and value in their insurance choices.

Mutual of Omaha stands out as the best term life insurance for smokers in Memphis, with a MoneyGeek score of 91 for men and 89 for women. Men can expect to pay a monthly premium of $24, while women are quoted at $23.

Smoking is a key determinant in premium costs due to the heightened health risks it poses, which are factored into insurance evaluations. Mutual of Omaha's high MoneyGeek scores reflect their strong customer satisfaction, financial stability, and product diversity, making them a reliable choice for smokers in Memphis seeking life insurance coverage.

In Memphis, the best term life insurance for young adults is offered by Protective for women with a MoneyGeek score of 92 and a monthly premium of $6. For men, Mutual of Omaha leads with a MoneyGeek score of 92 and a monthly premium of $7.

Age plays a significant role in determining life insurance premiums. Younger adults generally benefit from lower premiums due to their lower risk profiles. Protective and Mutual of Omaha have the highest MoneyGeek scores because of their affordability, customer satisfaction and financial stability.

The best cheap term life insurance in Memphis varies by gender. For men, Mutual of Omaha leads with a MoneyGeek score of 92 and a monthly premium of $11. For women, Protective tops the list with a MoneyGeek score of 92 and a monthly premium of $9. They have high MoneyGeek scores due to their affordability, customer satisfaction and financial stability.

Factors influencing life insurance premiums include age, health, coverage amount, and term length. To get the lowest premiums possible, maintain good health, avoid tobacco, and choose a shorter term length with adequate coverage.

The average monthly premium for term life insurance in Memphis is $19 for women and $24 for men. Several factors influence the cost of life insurance premiums, including age, health, and lifestyle. For example, younger individuals generally pay lower premiums. Health conditions like diabetes or heart disease can increase premiums. Lifestyle choices, such as smoking, also play a role.

The cost of life insurance in Memphis might be different than the rest of Tennessee due to various reasons. Regional health statistics can impact rates. Economic conditions in Memphis might differ from other areas, affecting the cost of living and, consequently, insurance premiums. Lifestyle factors prevalent in Memphis, such as higher smoking rates or different dietary habits, can also influence the cost.