Yes, every state license is covered, but not Federal Waterfowl Stamp and some sort of local Reelfoot Lake permit.
I've had mine long enough that it is now paying for itself... it almost feels like the state is paying ME to hunt and fish. emoBigsmile
It hurts upfront, and how long it takes to pay for itself really depends upon how much you hunt or fish (how much you spend on Tenn. licenses), and how much value you assign to convenience. I always bought a Sportmans License anyway, so when I bought my Lifetime I calculated it would take 8 or 9 years to reach "payoff."
I should add that when I told my wife, she asked, "So if you die before than do I get the money back?" Glad that I have at least outlived that question. emoBigsmile