The electric dipole strength distribution in 120Sn between 5 and 22 MeV has been determined at RCNP Osaka from a polarization transfer analysis of proton inelastic scattering at E_0 = 295 MeV and forward angles including 0{deg}. Combined with photoabsorption data an electric dipole polarizability alpha_D(120Sn) = 8.93(36) fm^3 is extracted. The dipole polarizability as isovector observable par excellence carries direct information on the nuclear symmetry energy and its density dependence. The correlation of the new value with the well established alpha_D(208Pb) serves as a test of its prediction by nuclear energy density functionals (EDFs). Models based on modern Skyrme interactions describe the data fairly well while most calculations based on relativistic Hamiltonians cannot.