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.
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 Universal life Variable universal 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 | ||
