Life & disability insurance · Memphis, TN (Shelby County)
Disability Income Protection in Memphis, Tennessee
46.8% of Memphis homes are owner-occupied (U.S.: 65.0%), and the median home value is $162,400, well below the U.S. median of $303,400. Individual short- and long-term disability options that can provide monthly income if a covered sickness or injury prevents you from working. Olive, a licensed agent with Manna Financial Services, helps Memphis, TN households compare disability income insurance by phone or video, and the first conversation is free.
What matters for disability income insurance in Memphis
29.8% of Memphis households have children under 18. For young families, term life is usually the lowest-cost way to cover the years until the kids are grown and the house is paid down.
Disability insurance replaces part of your income if illness or injury keeps you from working. With a median household income of $51,211 in Memphis, a policy is usually sized to a percentage of your own earnings, with a waiting period before benefits start.
Memphis by the numbers
- 46.8% of Memphis homes are owner-occupied (U.S.: 65.0%), and the median home value is $162,400, well below the U.S. median of $303,400.
- 7.6% of Memphis workers are self-employed, below the U.S. figure of 9.8%. Self-employed people have no employer plan for health, life or disability coverage.
- The median household income in Memphis is $51,211, well below the U.S. average of $78,538, the 2nd-lowest median household income of the 22 South U.S. communities on this site.
- 17.9% of Memphis adults aged 19 to 64 have no health insurance, well above the U.S. rate of 11.1%.
Memphis and nearby communities
| Place | Self-employed | Median household income | Households with children |
|---|---|---|---|
| Memphis | 7.6% | $51,211 | 29.8% |
| Houston | 11.8% | $62,894 | 31.2% |
| San Antonio | 8.8% | $62,322 | 32.8% |
| Dallas | 11.5% | $67,760 | 28.6% |
| U.S. | 9.8% | $78,538 | 29.8% |
Sources: U.S. Census Bureau, American Community Survey 2019–2023 5-year estimates.
How we help with disability income insurance
- Own-occupation definitions available on select professional designs
- Non-cancelable and guaranteed renewable options on many individual policies
- Benefit tax treatment depends on whether premiums are paid with after-tax dollars
- Coverage discussions for illness, injury, and certain cognitive impairments
Rules that apply in Tennessee
- Life insurance in Tennessee is issued by state-licensed insurance companies, and contractual guarantees are backed by the issuing carrier.
- Death benefits paid to a named beneficiary are generally free of federal income tax and usually pass outside probate.
- Your price depends on age, health, tobacco use, coverage amount and term; the insurance company sets the final rate after underwriting.
Questions from Memphis
Isn't employer group disability enough?
Many employer plans replace only a portion of base salary, cap monthly benefits, and may be taxable when the employer pays the premium — which can leave a meaningful income gap. An individual policy can be designed to help fill that gap, subject to underwriting.
Is it worth getting a quote if I live in Memphis?
Life insurance prices depend on your age, health and the coverage you choose, not your city, so a Memphis resident generally pays the same rate as anyone else in Tennessee with the same profile. You can compare prices online in a few minutes on our quote page.
Do I need to visit an office in Memphis?
No. Olive works with Memphis and Shelby County households by phone or video, so you can compare options from home. Most applications and signatures can be completed online.
Talk with Olive about disability income insurance.
Free, no obligation, by phone or video. Or call or text (937) 388-5346.