The Largest Life Insurance Companies Bankrate Caret RightMain Menu Mortgage Mortgages Financing a home purchase Refinancing your existing loan Finding the right lender Additional Resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Bank Banking Compare Accounts Use calculators Get advice Bank reviews Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Credit Card Credit cards Compare by category Compare by credit needed Compare by issuer Get advice Looking for the perfect credit card? Narrow your search with CardMatch Caret RightMain Menu Loan Loans Personal Loans Student Loans Auto Loans Loan calculators Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Invest Investing Best of Brokerages and robo-advisors Learn the basics Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Home Equity Home equity Get the best rates Lender reviews Use calculators Knowledge base Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Loan Home Improvement Real estate Selling a home Buying a home Finding the right agent Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Insurance Insurance Car insurance Homeowners insurance Other insurance Company reviews Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Retirement Retirement Retirement plans & accounts Learn the basics Retirement calculators Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Advertiser Disclosure

Advertiser Disclosure

We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.

How We Make Money

The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. SHARE:

On This Page

10'000 Hours/Getty Images April 26, 2022 Checkmark Bankrate logo How is this page expert verified? At Bankrate, we take the accuracy of our content seriously. "Expert verified" means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board comprises a panel of financial experts whose objective is to ensure that our content is always objective and balanced. Their reviews hold us accountable for publishing high-quality and trustworthy content. Lizzie Nealon is an insurance contributor for Bankrate and enjoys making home, auto and life insurance digestible for readers so they can prepare for the future. Maggie Kempken is an insurance editor for Bankrate. She helps manage the creation of insurance content that meets the highest quality standards for accuracy and clarity to help Bankrate readers navigate complex information about home, auto and life insurance. She also focuses on ensuring that Bankrate’s insurance content represents and adheres to the Bankrate brand. Kenneth Chavis IV is a senior wealth manager who provides comprehensive financial planning, investment management and tax planning services to business owners, equity compensated executives, engineers, medical doctors and entertainers. Bankrate logo

The Bankrate promise

At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money. Our content is backed by LLC, a licensed entity (NPN: 19966249). For more information, please see our Insurance Disclosure. Bankrate logo

The Bankrate promise

Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Bankrate follows a strict , so you can trust that we’re putting your interests first. All of our content is authored by and edited by , who ensure everything we publish is objective, accurate and trustworthy. Our insurance team is composed of agents, data analysts, and customers like you. They focus on the points consumers care about most — price, customer service, policy features and savings opportunities — so you can feel confident about which provider is right for you. We guide you throughout your search and help you understand your coverage options. We provide up-to-date, reliable market information to help you make confident decisions. We reduce industry jargon so you get the clearest form of information possible. All providers discussed on our site are vetted based on the value they provide. And we constantly review our criteria to ensure we’re putting accuracy first. Bankrate logo

Editorial integrity

Bankrate follows a strict , so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.

Key Principles

We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.

Editorial Independence

Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Bankrate logo

How we make money

You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Bankrate logo

Insurance Disclosure

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. Life insurance is designed to financially provide for your loved ones if you pass away. As such an important part of many Americans’ financial plans, policyholders typically want to make sure their life insurance provider is financially stable and well-respected. Researching the largest life insurance companies may help you find some of the best life insurance companies on the market. Many life insurance policyholders enjoy the peace of mind from doing business with the largest providers on the market. In fact, the top 10 largest life insurance providers account for nearly of market share. This advertising widget is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate. The offers and clickable links that appear on this advertisement are from companies that compensate Homeinsurance.com LLC in different ways. The compensation received and other factors, such as your location, may impact what ads and links appear, and how, where, and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available to you as a consumer. We strive to keep our information accurate and up-to-date, but some information may not be current. Your actual offer terms from an advertiser may be different than the offer terms on this widget. All offers may be subject to additional terms and conditions of the advertiser.

Compare life insurance providers quickly and easily

See which provider is right for you. The amount of coverage you need depends on many factors, including your age, income, mortgage and other debts and anticipated funeral expenses. Whole life insurance combines life insurance with an investment component. Coverage for life Tax-deferred savings benefit if premiums are paid 3 variations of permanent insurance: whole life, universal life and variable life include investment component Term life insurance is precisely what the name implies: an insurance policy that is good for a specific term of time. Fixed premium over term No savings benefits Outliving policy or policy cancellation results in no money back Find matches Powered by HomeInsurance.com (NPN: 8781838) This advertising widget is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate. HomeInsurance.com LLC services are only available in states where it is licensed and insurance coverage through HomeInsurance.com may not be available in all states. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. Bankrate Why Lemonade? It's a fresh twist on life insurance: easy, accessible and affordable. See more providers in Choose from insurers in Show More

List of life insurance companies

The National Association of Insurance Commissioners (NAIC) keeps an of the largest life insurance companies. The list is ordered by market share, calculated based on the value of premiums written per year. Northwestern Mutual is the largest life insurance company, according to 2021 NAIC data, holding nearly 9% of market share. Northwestern Mutual is followed closely by New York Life Group and Metropolitan Group, holding 8.3% and 7.18% of market share, respectively. Also on the list are many other life insurance companies you will likely find familiar. Rank Company Market share Premiums written (billions)
(776 industry average) 1 8.93% 14.271 807/1,000 2 8.30% 13.264 777/1,000 3 7.18% 11.476 756/1,000 4 6.66% 10.644 753/1,000 5 6.29% 10.042 782/1,000 6 5.20% 8.301 773/1,000 7 3.29% 5.254 822/1,000 8 3.15% 5.039 781/1,000 9 2.84% 4.533 775/1,000 10 2.84% 4.533 801/1,000

Choosing small vs large life insurance companies

When choosing the , is it best to stick with an insurer on the list of life insurance companies who write the most premiums? Not necessarily. There are certainly advantages to going with a major insurer, but taking a look at smaller companies is, at the very least, worthy of consideration.

What to look for beyond size

The most obvious reason to go with a large life insurance company is that they typically have more financial assets and, therefore, probably have an easier time achieving financial stability. A company’s financial stability rating is a good indicator of the company’s historic ability to pay out claims. Choosing a company with a high financial strength score may provide peace of mind when buying life insurance, as it is considered a financial product. AM Best rates the ability of insurance companies to meet their insurance obligations on a scale from A++ (Superior) to D (Poor). The financial strength scores of A++ (Superior) and A+ (Excellent) are highly coveted. There are other factors to consider, as well. Things like a company’s business ethics, customer service, community endeavors and technology development are all things that can help one company to stand out over another.

Choosing a large life insurance company

Large life insurance companies also tend to have more years in the business. Northwestern Mutual, for example, the biggest life insurance company in 2021, was founded in 1857. With more than a century and a half writing policies, this company is a leader in the industry with a strong track record of policyholder satisfaction. The digital tools offered by large life insurers are often superior to those offered by smaller competitors. For example, you might be able to manage your life insurance policy through a smartphone app or get instant quotes online from a company that has the resources to put into these features. Smaller companies may not have the budget to develop advanced technological tools. On a similar note, larger life insurance companies can sometimes offer easier access to customer service channels. You may be able to get in touch with a company representative without having to pick up the phone, thanks to mobile apps and live web chat. But if you would rather dial in, larger companies typically extend phone hours or even provide 24/7 support.

Choosing a small life insurance company

On the other hand, small life insurance companies can sometimes have the upper hand by providing more tailored and personalized customer service. If you do business with a small life insurer, you might work with the same representative for years or even decades. This type of relationship may offer better recommendations for your individual needs – not to mention possibly providing friendlier and more personal service overall. Smaller life insurance companies sometimes provide more specialized coverage. For example, some small life insurers are created specifically for certain groups such as or educators. A small specialty life insurer might also be a good choice if you are looking for a very precise type of coverage, such as . Last but not least, if you have been denied coverage from a major life insurance company, it is worth asking around with smaller competitors. While large life insurers can afford to turn down customers, small companies may be more flexible in order to win business. It is possible that a smaller insurer may be willing to accept greater risk than a larger insurance company.

Frequently asked questions

What is the largest life insurance company

As of 2021, Northwestern Mutual is the largest life insurance company. Northwestern Mutual writes about $14.2 billion in premiums per year and holds 8.93% of market share in the life insurance industry.

Is it better to choose a large life insurance company

Every insurance company is different, whether large or small. But there are a few reasons you might want to go with a large life insurance company. Larger insurers might have more years in business and could have more financial assets, which might mean a better chance at long-term stability. These companies may also offer policies with higher death benefit amounts. Major life insurers sometimes also have better customer resources, such as digital tools and apps, and a more accessible customer service department. These advantages may not be true for every large life insurance company, however, so you may want to do a little research to find out more about each company’s reputation before purchasing a policy.

What are the advantages of a small life insurance company

Purchasing life insurance from a smaller company may have its own advantages, although not every small insurance company will offer the same experience. Smaller companies oftentimes offer more specialized life insurance options, so you may be able to find a small insurer that offers tailored policies to your individual situation. You might also get more personalized customer service from a small company versus a large life insurance company. Finally, in some cases, smaller companies can be more accepting to those who have been denied life insurance from major insurers. SHARE: Lizzie Nealon is an insurance contributor for Bankrate and enjoys making home, auto and life insurance digestible for readers so they can prepare for the future. Maggie Kempken is an insurance editor for Bankrate. She helps manage the creation of insurance content that meets the highest quality standards for accuracy and clarity to help Bankrate readers navigate complex information about home, auto and life insurance. She also focuses on ensuring that Bankrate’s insurance content represents and adheres to the Bankrate brand. Kenneth Chavis IV is a senior wealth manager who provides comprehensive financial planning, investment management and tax planning services to business owners, equity compensated executives, engineers, medical doctors and entertainers.

Related Articles