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Life insurance is just one way to protect your loved ones, easing their financial burdens when you’re no longer around to provide for them. But today’s insurance industry includes more than 850 providers that specialize in life and annuities. With so much riding on your decision, it’s a lot to sift through.
We regularly review many of the top US insurers — their history, services, support and what you can expect as a policyholder — to empower you when shopping for a life insurance policy that fits your family’s needs.
60+ life insurance providers
Largest life insurance companies in the US
These are the biggest players in the life insurance game, according to the most recent market share report from the National Association of Insurance Commissioners (NAIC). Together, these providers wrote $166,577,249, 584 in direct premiums in 2018.
Along with dominating the life insurance market in the US, these companies are highly rated by A.M. Best. This means they have the cash reserves to pay out claims – which is important because your beneficiaries might not file a claim for years or even decades to come.
|Company, market share and direct premiums written||A.M Best rating||Life insurance products|
|2. Northwestern Mutual|
|3. New York Life|
|5. Lincoln Financial Group|
|7. Transamerica (Aegon USA Group)|
|8. John Hancock Group|
|9. State Farm|
|10. Securian Financial (formerly known as Minnesota Mutual)|
|11. Guardian Life|
|12. Pacific Life Group|
|14. American International Group (AIG)|
|16. Voya Financial|
|18. Protective Life|
|20. Globe Life (formerly known as Torchmark Corporation)|
|21. Sammons (Midland National Life Insurance Co. & North Amrican Co. for Life and Health Insurance)|
|A+ (Superior)|| Midland National:|
|22. UNUM Group|
|23. Mutual of Omaha|
|24. Principal Financial|
|25. Penn Mutual|
How to compare life insurance providers
When you’re researching life insurance providers, ask these questions:
- What types of life insurance do you offer?
- How much coverage can I buy?
- What term lengths can I choose from?
- Do your term policies have age restrictions?
- Are your rates competitive?
- What are the key policy features?
- Can I add riders to my policy?
- Can I adjust my premium or coverage amount?
- What are my payment options?
- Does my policy have the potential to earn dividends?
- Can I buy coverage without taking a medical exam?
- Can I purchase a policy today?
- Can I combine my policy with other insurance products (like disability or critical illness insurance)?
- Do your policies exclude certain occupations or hobbies?
- What’s the average turnaround time for applications?
- How would my beneficiaries file a claim?
- What kind of customer service can I expect?
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