The Top 20 Largest Life Insurance Companies
Northwestern Mutual and New York Life are the biggest players in life insurance. Here's how those companies and others compare.
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The biggest life insurance companies offer a variety of products, are financially strong and have long histories, some spanning more than 100 years.
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Largest life insurance companies in the U.S.
Here are the 20 largest life insurance companies listed in order of market share for individual life insurance, according to data from S&P Global Market Intelligence. Market share is based on the total amount of premiums written for U.S. policyholders in 2019. Click on the links to learn more about each company.
Company | Life insurance options | Market share in 2019 |
|---|---|---|
Term Life Universal life Whole life | 10.3% | |
Term life Whole life | 7.0% | |
3. MassMutual | Term life Universal life Variable universal life Whole life | 6.4% |
Term life Indexed universal life Universal life Variable universal life | 5.6% | |
5. Prudential | Term life Indexed universal life Universal life Variable universal life | 5.3% |
6. John Hancock | Term life Indexed universal life Universal life Variable universal life Whole life for seniors with guaranteed acceptance | 3.4% |
7. State Farm | Term life Universal life Whole life | 3.4% |
8. Transamerica | Term life Indexed universal life Universal life Whole life, including final expense policies for seniors | 3.2% |
9. Guardian | Term life Universal life Variable universal life Whole life | 3.1% |
10. MetLife | Term life Indexed universal life Universal life Variable universal life Whole life | 3.0% |
11. Pacific Life | Life insurance offered through workplace plans only. | 2.6% |
Term life Universal life Variable universal life Whole life, including guaranteed-acceptance policies for seniors | 2.4% | |
13. Equitable Holdings (AXA) | Term life Universal life Variable universal life Whole life | 2.1% |
14. Protective Life | Term life Universal life | 1.8% |
15. Primerica | Term life Indexed universal life Universal life Variable universal life Whole life | 1.7% |
Term life | 1.6% | |
17. Nationwide | Midland National: Term life Indexed universal life Universal life Variable universal life Whole life North American: Term life Indexed universal life Universal life | 1.6% |
18. Securian | Indexed universal life Universal life Variable universal life | 1.4% |
19. Sammons (Midland National Life Insurance Co. and North American Co. for Life and Health Insurance) | Term life Indexed universal life Universal life Variable universal life Whole life | 1.4% |
20. Voya Financial | Term life Universal life Variable universal life Whole life | 1.4% |
Source: S&P Global Market Intelligence; market share based on 2019 direct ordinary individual life insurance premiums | ||
