Your life insurance rates depend on the kind of policy you buy, the amount of coverage you get, and details about your health and medical history — but not on where you live. That’s why many of our picks for the best life insurance companies in Kentucky are the same as our picks for the best overall companies.
But, while location doesn’t affect life insurance rates, it can affect company availability and state-by-state laws, so it’s worth doing some research before buying a policy.
Policygenius rating | Best for … | AM Best score | Number of complaints | Cost | |
|---|---|---|---|---|---|
4.9/5 ★ | Overall, cheapest, term life | A+ | Fewer than average | $ | |
5.0/5 ★ | No-medical-exam life, young adults | A | More than average | $ | |
4.9/5 ★ | Whole life | A++ | Fewer than average | $$$ | |
4.8/5 ★ | Pre-existing conditions, marijuana | A | Fewer than average | $ | |
4.8/5★ | Guaranteed universal life | A+ | Fewer than average | $ | |
4.6/5 ★ | Smokers | A | More than average | $ | |
4.1/5 ★ | Seniors | A+ | Fewer than average | $$ |
Methodology
Why you can trust our picks
Our recommendations are based on internal and external expert analysis, as well as our Policygenius Life Insurance Price Index, which uses real-time data from leading life insurance companies to determine pricing trends. When reviewing a life insurance company, our editorial team uses a proprietary scoring rubric with five factors — price, policy details, financial strength, transparency, and customer experience — to assign an unbiased rating between one and five stars. These ratings are also taken into consideration as part of our company recommendations. We don’t get paid for our reviews.
Our reviews and recommendations can help you find a reliable insurer for your family’s financial protection, but the best life insurance company for you depends on multiple factors. A licensed agent at Policygenius can support you during the application process to ensure you get the right coverage for your circumstances at the most competitive price.
Best overall life insurance company in Kentucky: Legal & General America
The best life insurance company in Kentucky is Legal & General America, which also does business as Banner Life and William Penn in some states. Legal & General America is affordable for healthy applicants, which is usually the case, but it also has cheap life insurance rates for people with certain medical conditions.
Legal & General America also gives its policyholders the option to convert a term life insurance policy to permanent life insurance any time before they turn 70 (or any time before the end of the original term, whichever comes first).
Cheapest life insurance company in Kentucky: Legal & General America
Legal & General America has cheap life insurance rates in Kentucky, but location doesn’t affect the cost of life insurance. Life insurance from Legal & General America just tends to be more affordable than average, no matter the state.
The best way to find an affordable policy is by getting life insurance quotes from different companies before you buy. It’s also cheaper to get a life insurance policy while you’re young, since rates will only get more expensive as you get older.
Best term life insurance in Kentucky: Legal & General America
The best company for term life insurance in Kentucky is Legal & General America. It offers term lengths up to 40 years and policies worth up to $65 million in coverage, at most other insurance companies the maximum term length available is 30 years.
Term life insurance is the simplest option for most people, and it works like this: choose how long your coverage will last (the term) and the amount of money you want your loved ones to receive (the death benefit) after your death. All you have to do is keep up with your payments, and your loved ones will be financially protected if you die during the policy term.
Best no-medical-exam life insurance in Kentucky: Brighthouse Financial
The best company for no-medical-exam life insurance in Kentucky is Brighthouse Financial because it offers up to $3 million in coverage on a 30-year term policy without requiring a medical exam. You may even get approved in as little as 24 hours.
A no-medical exam policy, also called instant approval, just cuts out the in-person medical exam portion of buying life insurance. Insurance companies have their own rules about who can get a no-medical-exam policy, but it helps your chances if you’re young or haven’t had any major medical issues.
Best whole life insurance in Kentucky: MassMutual
MassMutual is the best whole life insurance company in Kentucky. It earned an A++ rating from AM Best for financial strength — key because whole life insurance doesn’t expire, it pays out when you die, no matter when that is.
Whole life policies include a cash-value component, which functions like a retirement account, in addition to the death benefit. The cash-value component gains interest over time, and you can access it while you’re alive.
Best guaranteed universal life insurance in Kentucky: Pacific Life
The best guaranteed universal life insurance company in Kentucky is Pacific Life, which received an A+ financial strength rating from AM Best. Pacific Life also accepts applicants up to 80 years old for guaranteed universal life insurance.
Guaranteed universal life insurance, a type of permanent life insurance, might be a good option for you if you want a policy you know will pay out, but don’t want the high premiums of whole life insurance.
Best life insurance for seniors in Kentucky: Prudential
The best life insurance company for seniors in Kentucky is Prudential. It’s always going to be more expensive to get life insurance once you’re older, especially if you have a history of health issues.
But Prudential offers coverage to applicants up to age 70, and you may qualify for coverage even if you have an age-related health condition, like a past heart attack, osteoporosis, arthritis, and others.
Best life insurance for young adults in Kentucky: Brighthouse Financial
The best life insurance company for young adults in Kentucky is Brighthouse Financial. Young applicants may qualify for a 30-year term policy — even if they’re smokers. If you’re in good health, you may be able to get up to $3 million in coverage without a medical exam.
Best life insurance for pre-existing conditions in Kentucky: Lincoln Financial
The best life insurance company in Kentucky if you have a pre-existing medical condition is Lincoln Financial. That’s because Lincoln Financial still offers coverage to people with certain common pre-existing conditions on their medical records, like a past heart attack, high blood pressure, asthma, and even some forms of cancer.
Best life insurance for marijuana users in Kentucky: Lincoln Financial
Lincoln Financial is the best life insurance company in Kentucky if you use marijuana because it doesn’t classify marijuana users as smokers. That means you won’t have to pay the high rates that smokers pay for life insurance coverage — even if you’re a regular marijuana user.
Make sure you’re honest about using marijuana when applying for life insurance, since your insurance company can deny a future claim or rescind your policy if it finds out you misrepresented yourself when you applied.
Best life insurance for smokers in Kentucky: Corebridge Financial
The best life insurance company for smokers in Kentucky is Corebridge Financial. You can apply for better rates from Corebridge a year after you quit smoking — other insurance companies require you to wait anywhere from three to five years post-quitting. Corebridge Financial also offers affordable rates if you smoke cigars — but not for other forms of tobacco.
How is life insurance different in Kentucky?
There are some state-specific rules and regulations in Kentucky that you should know about before you get a policy. [1]
Contestable period: Your life insurance company can deny a claim or rescind your policy if it finds out in the first two years that you misrepresented yourself when you applied for coverage.
Free look period: After you receive a life insurance policy, you have 10 days to cancel it and still get a full refund.
Grace period: Kentucky requires that insurance companies give you at least 30 days to make up for a missed payment before canceling your coverage.
Guaranty Fund protection: The Kentucky Guaranty Association will cover up to $300,000 of your death benefits and $100,000 of your policy’s cash surrender value if your insurance company goes bankrupt.
Time to settle a claim: Your life insurance company has to process a claim within 30 days of receiving proof of death or pay up to 12% interest for every day it doesn’t settle a claim.
Largest life insurance companies in Kentucky
Here are the 10 largest life insurance companies in Kentucky by market share. [2]
Market share in Kentucky | |
|---|---|
Northwestern Mutual | 7.82% |
MetLife | 7.81% |
Transamerica | 5.35% |
New York Life | 4.62% |
Lincoln Financial | 4.50% |
Prudential | 4.24% |
State Farm | 4.16% |
Minnesota Mutual | 2.83% |
Mutual of Omaha | 2.53% |
MassMutual | 2.38% |
What happens if a life insurance company goes bankrupt in Kentucky?
If your life insurance company goes bankrupt, the Kentucky Life and Health Insurance Guaranty Association will replace part of your benefits. It will cover up to $300,000 of a policy’s death benefits and $100,000 in its cash surrender value, but this isn’t much coverage, so it’s still worth getting a new policy.
How to find a lost life insurance policy in Kentucky
If you have a connection to the deceased person, you can find a lost life insurance policy in Kentucky by searching the Life Insurance Policy Locator Service from the National Association of Insurance Commissioners.
Average life insurance rates in Kentucky
According to Policygenius data, the average cost of life insurance in Kentucky for a $500,000, 20-year term life insurance policy is $27 per month ($307 per year) for women and $32 per month ($373 per year) for men — but keep in mind that your location doesn’t factor in to the cost of life insurance.
Age | Gender | $250,000 coverage amount | $500,000 coverage amount | $1 million coverage amount |
|---|---|---|---|---|
20 | Female | $15 | $23 | $34 |
Male | $19 | $29 | $48 | |
30 | Female | $15 | $23 | $37 |
Male | $18 | $29 | $49 | |
40 | Female | $22 | $35 | $61 |
Male | $25 | $43 | $75 | |
50 | Female | $44 | $78 | $139 |
Male | $57 | $102 | $188 | |
60 | Female | $108 | $194 | $355 |
Male | $149 | $268 | $500 |
Methodology: Average monthly rates are calculated for male and female non-smokers in a Preferred health classification obtaining a 20-year $250,000, $500,000, or $1,000,000 term life insurance policy. Life insurance averages are based on a composite of policies offered by Policygenius from Brighthouse Financial, Corebridge Financial, Foresters Financial, Legal & General America, Lincoln Financial, Mutual of Omaha, Pacific Life, Protective, Prudential, Symetra, and Transamerica, and the Policygenius Life Insurance Price Index, which uses real-time data from leading life insurance companies to determine pricing trends. Rates may vary by insurer, term, coverage amount, health class, and state. Not all policies are available in all states. Rate illustration valid as of 09/01/2024.
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