Top 20 Largest Life Insurance Companies for 2021

Northwestern Mutual and New York Life are the biggest players in life insurance. Here's how those companies and others compare.

Georgia RoseApr 26, 2021
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The biggest life insurance companies in the United States offer a variety of products, are financially strong and have long histories, some spanning more than 100 years.

Largest life insurance companies in the U.S.

Here are the 20 largest life insurance companies in the United States, 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 2020. Click on the links to learn more about each company and the types of life insurance they offer.

Company

Life insurance options

Market share in 2020

  • Term life

  • Whole life

  • Universal life

  • 10.6%

  • Term life

  • Whole life

  • Universal life

  • Variable universal life

  • 7.1%

  • Term life

  • Whole life

  • Universal life

  • Variable universal life

  • 6.4%

    Term life Universal life Variable universal life Indexed universal life

    5.5%

    Term life Universal life Variable universal life Indexed universal life

    4.7%

    Term life Whole life Universal life

    3.5%

    Term life Universal life Variable universal life Indexed universal life

    3.3%

    Term life Whole life Universal life Variable universal life

    3.2%

    Term life Whole life Universal life Indexed universal life

    3.0%

    10. MetLife

    Life insurance offered through workplace plans only.

    2.8%

    Term life Group whole life Universal life Variable universal life Indexed universal life

    2.7%

    Term life Whole life Universal life Variable universal life Indexed universal life Guaranteed universal life

    2.4%

    Term life Variable universal life Indexed universal life

    2.0%

    Term life

    1.8%

    15. Sammons (Midland National)

    Term life Indexed universal life Guaranteed universal life

    1.8%

    Term life Whole life Universal life Variable universal life

    1.7%

    Term life Whole life Universal life Variable universal life Indexed universal life

    1.6%

    Term life Whole life Variable universal life Indexed universal life Guaranteed universal life

    1.6%

    Term life

    1.6%

    Term life Whole life

    1.5%

    Source: S&P Global Market Intelligence; market share based on 2020 direct ordinary individual life insurance premiums, from U.S. insurance subsidiaries only.

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