Complete List Of Life Insurance Companies

Between pondering “How much life insurance do I need?” and researching all the types of life insurance (whole life, term life, universal…oh my!) finding the right life insurance company for your needs can start to feel overwhelming!

We’ve collected the top major life insurance companies in the United States with a brief rundown of what they offer all in one convenient place. So when you are ready to make the plunge, make sure you check here first!

AAA Life Insurance Company

Established in 1969, AAA Life Insurance Company has 1.3 million policies in force and its headquarter is in Livonia, Michigan. They claim to offer the cheapest products and services compared to other competitors and to prove that it is a great company, they have been given an A rating by A.M. Best. AAA Life offers life insurance including term, whole, and universal, and annuities.

• Term life
• Universal life
• Whole life
• Annuities

Aetna

Established in 1850, Aetna was initially named Aetna Insurance Company with the concept of using annuity funds to sell life insurance. In 1853, the annuity department separated from life insurance, and thus Aetna Life Insurance Company was established.

Along the way, Aetna was acquired by CVS Health and now no longer provides just life insurance, but also focuses on health insurance as well. Aetna offers products for both individuals and businesses, including Medicare, health coverage, dental, vision & supplemental, and pharmacy.

• Business and personal lines
• Life insurance

AFLAC

AFLAC was founded in 1955 as the American Family Life Insurance Company of Columbus in Columbus, Georgia. Eventually, the name changed to American Family Life Assurance Company of Columbus, or AFLAC. Headquartered in Columbus, Georgia, the company pioneered cancer insurance and has contributed $100 million to Children’s Healthcare of Atlanta for children’s cancer treatment.

For anyone looking into their products, they offer insurance for both individuals and businesses in accidents, cancer, and life insurance in Georgia and the rest of US.

• Business and personal lines
• Accidental death
• Cancer coverage
• Life insurance

AIG

Started in 1919 as the American Asiatic Underwriters (AAU) in Shanghai, China it has since grown to become one of the leading insurers globally operating in more than 80 countries. AIG has products developed to suit the needs of both individuals and businesses.

AIG has a full suite of individual insurance products: term life, universal life, guaranteed issue whole life which offers limited coverage with no medical exam for people between the ages of 50 and 80, accident and sickness insurance, and a private client group aimed at servicing high net worth clients. On the business insurance side, they offer group health insurance for large corporations.

• Term life
• Universal life
• Guaranteed issue whole life (no medical exam for ages of 50-80)
• Accident and sickness insurance
• Group Health for businesses

AIG Direct

Founded in 1995 by Ron Harris and Laura Huffman, AIG Direct is part of AIG. Products offered include term and whole life insurance, permanent life insurance, universal life insurance, guaranteed issue whole life insurance, and accidental death insurance. They have also come up with a unique product exclusive to AIG Direct called Quality of Life Insurance.

It is similar to a term life policy with the added benefit of including living benefits for those who need help paying medical bills related to some chronic health problems. Since 2018, they created the AIG Direct Scholarship program focused on helping students who have lost their parents with educational expenses.

• Term life
• Whole life
• Permanent life
• Universal life
• Guaranteed-issue whole life
• Accidental death insurance

Alfa Insurance

Established in 1946, Alfa Insurance began as an outgrowth of the Alabama Farmers Federation. Initially, the company started with the goal of providing fire protection to rural residents. Eventually, the company transitioned to offer other insurance products and currently has more than 1 million active policies. Alfa Insurance offers insurance for auto, home, life, farm, and businesses.

• Business and personal lines
• Life insurance

Allianz Life Insurance Company of New York

Established in 1982 and starting operations in 1984 following licensing approval, Allianz Life Insurance is a wholly-owned subsidiary of Allianz of America. They currently have an A+ rating from AM Best and AA by Standard & Poor’s. The main products they offer are two types of annuities: variable and index variable annuities.

Allianz Life’s variable annuities offer market-based growth and are a great fit for people who are willing to take some more risk for greater returns. Their index variable annuities product allows you to accumulate and protect assets for retirement.

• Variable annuities
• Index Variable annuities

Allstate

Established in 1931, Allstate has focused on giving back to its community and society. For the past 40 years, they have been providing services through their Helping Hands Volunteer Program. While some companies may solely focus on life insurance, the unique aspect about Allstate is that it is an all-in-one insurance provider.

Clients can find a wide range of products including auto, home, life, and business insurance. Allstate even has an app called Good Hands Rescue that aims to help stranded drivers receive immediate access to roadside assistance via pay-per-use.

• “All in one” insurance provider

American Family Insurance

Established in 1927, American Family Insurance started as the Farmers Mutual Automobile Insurance company. Eventually, in 1963, the company changed its name to what is now known as American Family Insurance. Headquartered in Madison, Wisconsin, the company was created with the vision to protect the dreams of policyholders as dreams are the most valuable thing in life.

As a part of their commitment to serve people, American Family has given $14.8 million to philanthropic activities. Their product lines range from car, home, life, renters, to business insurance.

• Business and personal lines
• Life insurance

American Fidelity

Established in 1960, American Fidelity has been rated A+ since 1982 by A.M Best. In terms of the company’s goal, American Fidelity aims to provide insurance to various industries. What gives the company a competitive edge is that they have unique products and solutions specifically for the industries they specialize in: Education, Public Sector, Automotive, and Healthcare.

Their product line includes employee benefits including life, cancer, and accident insurance, retirement savings, and stop-loss insurance.

• Employee benefit plans
• Life insurance
• Cancer coverage
• Retirement savings

American General

Established in 1960, American General was acquired by AIG in 2001 in a deal valued at $23 billion. Although not licensed in the state of New York, their policies are backed by the United States Life Insurance Company. Their most popular product is term life insurance.

One thing that sets American General apart from other insurers is their flexibility with their Manage My Policy system. Instead of being locked into one product, this program allows you to review your current policy, give recommendations, and make changes as your life circumstances change.

For example, you would be able to make adjustments to your existing insurance (without needing to purchase a whole new product) if you started a family, bought a home, or had some material changes to your health or income.

• Term life
• Manage My Policy flexible system

American Income Life Insurance Company

American Income Life Insurance Company was founded in 1951 and currently operates in the U.S, Canada, and New Zealand. The company provides supplemental life insurance for labor unions, credit unions, and associations. As of now, American Income Life has 2 million policies in force and $130 million in annual product sales. In New York, the National Income Life Insurance Company underwrites insurance.

Their products include life, supplemental health, and special risk. Unique to American Income Life is their no-cost products like the No-Cost Child Safe Kit that is given with every policy. The Kit records information about the child in case if anything bad happens, then information can be retrieved immediately.

• Supplemental life insurance
• Special risk

American National

Established in 1905 and headquartered in Galveston, Texas, the American National Insurance Company operates in all states except Puerto Rico and New York. That said they’re able to issue policies in New York through other subsidiaries like the American National Life Insurance Company of New York, Farm Family Casualty Insurance Company, and United Farm Family Insurance Company.

With all the brands under this one umbrella, they’re able to offer a full assortment of life insurance products including whole life, term life, universal life, indexed universal life, and guaranteed universal life. Also, they offer a full range of annuity products: fixed deferred annuity, single premium immediate annuity, and index deferred annuity.

• Whole life
• Term life
• Universal life
• Indexed universal life
• Guaranteed universal life

Ameritas

Established in 1887 in Lincoln, Nebraska, Ameritas was the city’s first local insurance company. The company still has its headquarter in Lincoln while providing services all over the U.S. Ameritas started as a life insurance company and later transitioned into other areas including financial and employee benefits.

As a mutual organization, Ameritas is accountable to the clients and focuses on improving and making the company better for its clients. With an A rating by A.M. Best, the company has 4 million policyholders and has been giving over $1.6 million to charities since 2019. Ameritas has a wide variety of products for individuals and businesses including life insurance, dental, vision & hearing, disability income, investments, annuities, and retirement plans.

• Business and personal lines
• Life insurance
• Investments
• Annuities

Amica

Established in 1907, Amica is the oldest mutual insurer of automobiles in the U.S. The company headquarters is located in Lincoln, Rhode Island and their insurances are underwritten by Amica Life Insurance Company. As of 2019, there are 1.6 million active policies and is rated A+ by A.M Best. In terms of their products, they offer auto, home and life insurance.

• Term life
• Whole life

Assurity

Assurity was started in 1890 as the Modern Woodman Accident Association in Lincoln, Nebraska under the guiding concept of people coming together to help each other. Growth is mutual between the company and its customers. To solidify their position, they earned a B Corp certification that is given to companies that have the highest standards in social performance, transparency, and considering all stakeholders in decisions.

Companies that share the B Corp certification include other social enterprises like Ben & Jerry’s and Patagonia. Assurity offers a full suite of products including life insurance, critical illness, disability income, and accidental death coverage for both individuals and businesses.

• Life insurance
• Critical illness
• Disability income
• Accidental death

The Baltimore Life Company

Established in 1882 as The Baltimore Mutual Aid Society of Baltimore City, the company is headquartered in Owing Mills, Maryland. In 1900, the company renamed itself The Baltimore Life Insurance Company of Baltimore City and is licensed in the District of Columbia along with 49 other states.

Each year the company awards charitable grants to non-profit organizations and is rated B++ by A.M Best. To keep in-line with the age of technology, Baltimore introduced INSPeed Now which enables live underwriting through the paperless application. Their products include life insurance, retirement plans, and workplace insurance.

• Life insurance (live online underwriting)
• Retirement plans

Bankers Life

Founded in 1879, Bankers Life is a subsidiary of CNO Financial Group, Inc. The company caters to middle-income retirees or individuals near their retirement. One outstanding thing about Bankers is that they founded the Bankers Life Forget Me Not Day as a way to raise funds for the Alzheimer’s Association, a non-profit organization that helps raise awareness for Alzheimer’s disease.

For those interested in their products, they have life insurance, long-term care insurance, supplemental health insurance, annuities, and retirement plans.

• Life insurance
• Long term care
• Annuities
• Retirement plans

Banner Life

Banner Life falls under the Legal & General America Company founded in 1981 which is in turn part of Legal & General PLC after being bought in 1989. As of today, there are more than 1.3 Billion policyholders in the US and $5 Billion in total assets despite paying out $1 Billion in claims each year.

In terms of products, they offer term and universal life insurance and annuities. Some unique features of their life insurance products include a waiver of premium, policy conversion, and a flexible payment schedule. They also have a unique pension risk transfer (PRT) product introduced in 2015.

• Term Life
• Universal Life
• Annuities

Brighthouse

Established in 1863 as Travelers Insurance Company, Brighthouse was acquired by NELICO in 1996. Headquartered in Charlotte, North Carolina, the company is ranked 457 in the Fortune 500 and has an A rating given by A.M. Best. The Brighthouse Life Insurance Company provides insurance to all 50 states and in New York, the Brighthouse Life Insurance Company of NY is the one that provides insurance.

With over 2 million customers, the company specializes in life insurance and annuities. Following the belief that mastering a limited number of products will help them provide innovative solutions, their products only include life insurance and annuities.

• Life insurance
• Annuities

Colonial Life

Established in 1937, Colonial Life began as a Mutual Accident Company. In 1939, the company changed its name to Colonial Life & Accident Insurance Company and is currently a subsidiary of the Unum Group. The company has 3.7 million policyholders and more than $1.5 billion of premium in force. Colonial Life offers an array of products for individuals and employers, including life, accidental, disability, cancer, and dental & vision.

• Life insurance
• Accidental death
• Cancer coverage

Country Financial

Country Mutual Insurance Company was established in 1925 and is headquartered in Bloomington, Illinois. The company is ranked 671 in the Fortune 1000 list and rated A+ by A.M. Best. To prove that the company is in good hands, the collective life insurance and annuities in force amount to more than $70 billion.

Country Financials is a company that prioritizes the green initiative and with that mindset, the COUNTRY Financial Green Team was established to help make a difference in the environment. Whatever the clients are looking for, the company strives to satisfy them with their wide range of products including insurance for life, auto, home, health, business, and farm, along with retirement plans for individuals and businesses, and annuities.

• Business and personal lines
• Life insurance
• Retirement plans
• Annuities

ERIE Insurance

Founded in 1925, ERIE Insurance was created on a vision of being an insurance company that emphasizes customer service. Their tagline, “The ERIE is Above all in SERvIcE” has been the same since its founding days with the name ERIE extracted from the word “Service”. Initially, they started as an auto insurance company, but in 1961, they offered their first home insurance service.

ERIE has 5 million policies in force and is listed in the Fortune 500. With its A+ rating given by A.M Best, they provide all types of auto insurance, home & property, life insurance, and business insurance.

• Business and personal lines
• Life insurance

Equitable

Equitable was founded in 1859 under the name Equitable Life Assurance Society of the United States. Headquartered in New York, Equitable provides scholarships to individuals who perform or contribute significantly to their school or community through their Equitable Excellence Scholarship Program.

They offer products not just for individuals, but also for employers and businesses, including life insurance, retirement plans, annuities, and employee benefits such as life, dental, and vision.

• Business and personal lines
• Life insurance
• Retirement plans
• Annuities

Farm Bureau Life Insurance Company

Established in 1945 as Iowa Life Insurance Company, the company is a subsidiary of Farm Bureau Financial Services. With an A rating given by A.Ms Best, the company gives back to society through donations and sponsoring non-profit organizations. Farm Bureau offers products including term life, whole life, universal life, indexed universal life, and annuities.

• Term life
• Universal life
• Indexed universal life
• Whole life
• Annuities

Federal Life

Incorporated in 1899, Federal Life is headquartered in Riverwood, Illinois with a focus on life insurance and annuities. The company has an A+ rating given by Better Business Bureau and maintains its tradition of financial strength and stability.

The unique thing about Federal Life is that it has survived World Wars I and II, the Korean War, the Vietnam War, and even the Great Depression. Their diverse line of products includes life insurance, annuities, retirement plans, and final expense.

• Life insurance
• Final expense plans
• Retirement plans
• Annuities

Fidelity Security Life Insurance Company

Established in 1969 Fidelity Security Life Insurance Company now insures over 12 million policyholders with assets and premiums exceeding $1 Billion. Products offered include supplemental health insurance, life and disability insurance, an annuity product, and a stop loss product aimed at helping organizations protect against unexpected losses or accidents in their employee benefits plans.

Apart from what they offer in terms of products, they also began partnering with OneSight in 2001 to help raise awareness for undiagnosed vision problems amongst children.

• Stop loss product for employee benefit plans
• Supplemental health
• Life insurance
• Annuities
• Disability insurance

Foresters Financial

Established in 1874, Foresters Financial services over 3 million policyholders in the U.S, Canada, and the UK. With an A rating from AM Best, they offer a full range of life insurance products including term life, whole life, and universal life. But what sets them apart from other life insurers is the benefits they give to help policyholders thrive financially and from a health perspective. Every policyholder becomes a member and gets access to benefits like a diabetes member benefit giving discounts on Accu-Chek machines.

Everyday Money is a toll-free helpline that connects them with a financial counsellor and to support lifelong learning, they provide an online library accessible from anywhere. They also support orphans through their scholarship program and the orphan benefit which gives $900 per month to each child with deceased parents.

• Term life
• Whole life
• Universal life
• Orphan benefit

Geico

Geico was founded in 1936 and became a wholly-owned subsidiary of Berkshire Hathaway in 1996. The company has an A++ rating given by A.M Best and according to A.M Best, Geico is the second-largest auto insurer in the U.S. While the company emphasizes auto insurance, they also provide insurance in other categories as well.

Those searching for insurance will find the following products: vehicle, property, business, and other insurances including travel and pet insurance (partnered with Embrace Pet Insurance across multiple states including Colorado, Indiana, and Ohio).

• Term life
• Whole life
• Universal life

Gerber Life Insurance

Founded in 1967, the mission of Gerber Life Insurance was to provide insurance to young families with a limited budget. Gerber’s products are divided into 3 categories: adult life insurance, child life insurance, and college savings. In their adult category, they provide a term, whole life and guaranteed life insurance product alongside accident protection insurance.

For children, they provide a grow-up plan while is an exclusive whole life insurance product for children which doubles its coverage when the child turns 18. The Gerber Life Young Adult plan is a whole life policy for young adults between the ages of 15 and 17 which also doubles upon turning 18. For college savings, the Gerber Life College Plan provides a secure and easy way for families to save for college.

• Adult life (term, whole life, guaranteed life)
• Child life (whole life “grow up” plan and young adults plan)
• College savings

Global Life

Established in 1900 as the Liberty National Life Insurance company, the company has the highest number of life insurance policies compared to any other company in the U.S. With an A rating given by A.M Best, the company has written 16 million policies and has active insurance policies worth $82 billion. Although Global Life offers multiple insurance products, they mostly focus on life insurance.

Their products include life, health, and worksite advantages. Compared to life and health insurance, Worksite Advantage is underwritten by Global Life Liberty National Division that targets specifically businesses.

• Business and personal lines
• Life insurance

GTL

Founded in 1936, GTL is headquartered in Glenview, Illinois and is the first insurance company to offer life insurance to HIV patients in 1990. GTL is a mid-sized mutual insurer that is focused on serving its customers with no outer investors involved. To support its community, GTL has strategic relationships with non-profit organizations for charitable activities. The company offers a suite of products including life, accident, and health insurance along with special risk programs.

• Life insurance
• Accidental death
• Special risk programs

Guardian Life

Established in 1860 by a group of immigrants, Guardian Life was built upon these three simple ideas: do the right thing, hold ourselves to high standards, and know that people count. Since 1868, the company has been paying dividends every year, has 29 million policyholders to date, and has $699 billion active insurance.

With its A++ rating by A.M Best, Guardian Life banks on being a mutual company that is answerable only to their customers. Their product lines include life and health insurance, including dental, accidental, and cancer, annuities, and solutions for businesses.

• Business and personal lines
• Life insurance
• Accidental death
• Cancer coverage
• Annuities

Haven Life

Haven Life was founded by Yaron Ben-Zvi to provide life insurance quickly and easily using technology. It is a wholly-owned subsidiary of and all products are backed by MassMutual – a 160 year old insurance company. Instead of waiting weeks for underwriters to evaluate a policy, their technology helps give the best rates and advice on which plan is best instantly. Products offered include Haven Term, Haven Simple, and AgeUp.

Haven Term is a term life insurance product offering between $100,000 and $3M in coverage. Haven Simple is a simplified insurance product that is sold completely online with no medical exam required and coverage up to $500,000. AgeUp is an annuity product aimed at people over 90 to help them fill any financial shortfalls. Payouts under this product start at 91 years old and end when the insured is 100.

• Haven Term
• Haven Simple (no medical)
• AgeUp (ages 91-100)

John Hancock Insurance

Established in 1862, John Hancock Insurance has more than 2.6 million policyholders and pays $5.7 billion in claims each year. With an A+ rating by the A.M Best, the insurance in New Work is underwritten by John Hancock Life Insurance Company of New York. In 2015, they started the Vitality Program which comes with all Life Insurance Products.

The two programs offered are Vitality Plus and Vitality Go and the products include Term Life and Permanent Life. Anyone who signs up with John Hancock is in good hands; health and wellness benefits are given to clients, ranging from edible products to useful gadgets.

• Term life
• Permanent life

Kansas City Life Insurance

Established in 1895, Kansas City Life Insurance was initially called Bankers Life Association. In 1900, the company adopted the name Kansas City Life Insurance. The company headquarters is in Kansas City, Montana and is licensed in the District of Columbia and 48 states in the U.S. With an A rating given by A.M. Best, Kansas City offers products including life insurance and annuities.

• Life insurance
• Annuities

Liberty Mutual

Founded in 1912, Liberty Mutual believes in innovation and thinking outside of the role of insurance. The company is globally ranked 6th largest property and casualty insurer based on gross written premium. Liberty Mutual operates in 29 countries around the world and in 2020, they ranked 77th in the Fortune 500 based on their revenues.

For business units, they offer personal insurance lines, commercial insurance lines, and Liberty Mutual Investments. They also offer other products including auto, home, property & casualty insurance for business, and other types of insurance like life and accidental.

• Business and personal lines
• Investments
• Life insurance
• Accidental death

Lincoln Financial Group

Lincoln Financial Group was established in 1905 in Fort Wayne and was ranked 188th on Fortune 500 by revenue and 22nd by assets. In 2006, the company merged with Jefferson Pilot Financial. Lincoln Financial is the first and only company that uses Abraham Lincon’s name as its brand identity. In fact, Lincoln’s son, Robert Todd Lincoln, was the one that permitted Lincoln Financials to freely use his father’s name.

As of now, the group has two insurance companies, The Lincoln National Life Insurance Company and Lincoln Life & Annuity Company of New York. Both companies were rated A+ by A.M Best and as a company that cares about its community, 2% pre-tax income is given in charitable activities. The company offers a range of products from Life Insurance, including Term Life and Permanent Life, to Annuities, which includes Fixed, Fixed Indexed, and Variable.

• Term life
• Permanent life
• Annuities (fixed, fixed index, variable).

MassMutual

Established in 1951, MassMutual began its operation on the vision of securing the future of its clients and protecting their family members. MassMutual is a mutual organization, which is only accountable to its customers. Since 1869, the company has been given dividends and any policyholders can get a share of the dividends.

Ranked 84th of the list of the Fortune 500, the company has been given an A++ rating by A.M. Best and currently has $77 5 billion policies in force. As a way to give back to its people, MassMutual is also a partner of Hampden Country Bar Association’s Legal Clinic (HCLC), which aims to provide legal assistance to the underserved communities.

The company has products including annuities, retirement plans for businesses, workplace insurance for businesses, disability income, and a range of life insurance including whole life, term universal, and variable. In addition, our research has shown that MassMutual is one of the best life insurance providers in Massachusetts.

• Business and personal lines
• Whole life
• Term life
• Universal life
• Variable life

MetLife

Founded in 1863, MetLife insured civil war soldiers against war disabilities and is currently operating in 40 countries. The company is well recognized in America, Europe, Asia, Middle East and Africa and has been given an A + + rating by A.M Best. With their presence and great rating, they are serving more than 90 companies in the top 100 companies that are listed on the Fortune 500.

MetLife has products including insurance (life, auto, home, health), business insurance (employee benefits), retirement plans, and annuities.

• Personal and business lines
• Life insurance
• Retirement plans
• Annuities

Mutual of Omaha

Mutual of Omaha was founded in 1909 as Mutual Benefit Health & Accident Association and is given an A1 rating by Moody’s Investor Service. Interestingly, they even have a web series called the Wild Kingdom that features nature and the animal world! Mutual of Omaha has various products tailored for individuals and businesses and employers.

For those looking for personal products, they have Medicare, life insurance including term, whole, universal and accidental death, and financial services including annuities, investments and mortgages. For businesses and employers, they provide group benefits, solutions for businesses, and group investments.

• Business and personal lines
• Term life
• Whole life
• Universal life
• Accidental life
• Annuities, investments, mortgages

National Life

Established in 1848, National Life is one of the first mutual insurance companies in the U.S. In 1968, the company established National Life Group and transitioned to a full range of financial services. The great thing about the company is that since 1850, they have been giving dividends every single year. National Life offers a variety of products including life and business insurance, mutual funds, annuities, and retirement plans.

• Business and personal lines
• Life insurance
• Mutual funds
• Annuities
• Retirement plans

Nationwide

Nationwide started in 1926 under the name Farm Bureau Mutual Automobile Insurance Company as a company that focuses on automobile insurance during the rise of the automobile industry. Eventually, the company changed its name to Nationwide in 1955 and its Home Office is currently located in Columbus, Ohio. A.M Best rates Nationwide as an A+ company. In terms of their products, clients can be sure that they will find what they are looking for.

The company offers various personal and individual insurance, including automobile, property, life, annuities, mutual funds, retirement plans, and even has specialty insurance for pets, weddings, and travel. For business owners or organizations, Nationwide provides business liability, commercial property, and commercial auto.

As a cost-effective option, business owners can choose the business owner’s policy which includes business and equipment breakdown coverages and commercial property.

• Business and personal lines
• Life insurance
• Annuities
• Mutual funds
• Retirement plans

NEA Benefits

Established in 1967, NEA benefits was built by The National Education Association to help public school employees. Their mission is to make the lives of the public-school employees better with their services and solutions. To fulfill their mission, they have partnered with various brands that share the same vision for helping public school education. Their products include Medicare Supplement and life, auto, and home insurance.

• Employee plans
• Life insurance

New York Life

Having a history of 175 years, New York Life was established in 1845 to be a true Mutual Company that is accountable to its customers with no outside investors involved. It is the #1 mutual insurer in the U.S and is rated A++ by A.M Best. The company has been paying dividends every single year since 1854 and in 2020, the company paid $1.9 billion in dividends. New York Life offers products including life insurance, retirement income, investments, and premier services for businesses.

• Life insurance
• Retirement income
• Investments

Nippon Life Benefits

Nippon Life Benefits was established in 1991 as a means to provide innovative employee benefits. The company is a subsidiary of Japan Nippon Life Insurance Company, which is one of the world’s largest mutual insurance companies. With a 95% customer satisfaction survey rating given by its active customers, it’s no wonder that the A.M Best has given the company an A- rating. Its line of products includes medical, dental, life, and vision insurance.

• Life insurance

North American

Founded in 1886, North American was initially known as the North American Accident Association. Right now, the company is currently a member of Sammons Financials. North American was ranked within the Top Five “Best Places to Work List 2020” by Glassdoor and was rated A+ by the A.M Best. As of December 2019, 395,939 life insurance and 220,859 annuity policies have been written and in 2019 alone, North American gave out $593 million in death claims.

As a company that values its people and its community, they donated $3.5 million in 2019 for charities. Their product lines include life insurance and annuities. For those seeking to purchase life insurance, they offer term life, guaranteed universal life, and indexed universal life. As for annuities, their options include a fixed index, multi-year guarantee, and single premium immediately.

• Term life
• Guaranteed universal life
• Indexed universal life
• Annuities

Northwestern Mutual

Established in 1859, Northwestern Mutual is a mutual company that holds itself accountable to its customers. With over 4.5 million customers, the company tops the Best Life Insurance Life Company by NerdWallet in 2020. Not only that, but the company is also rated A++ by A.M Best. Northwestern Mutual has over 4.5 million customers and offers a range of products including life and disability insurance, retirement plans, education savings, and business solutions.

• Business and personal lines
• Life insurance
• Retirement plans

Oxford Life Insurance Company

Founded in 1965 in the Grand Canyon State of Arizona, the company was built on the concept of providing financial security to help seniors after their retirement. Oxford Life Family of Companies includes Christian Fidelity Life Insurance Company (CFLIC) and North American Insurance Company, a pioneer in Medicare supplement insurance. Oxford Life is also a member of AMERCO, which is a publicly-traded financial holding network.

They have a range of life insurance and annuity products that will surely suit everyone’s needs. Their life insurance products include the Oxford Life Prosperity Select, which provides a lifetime financial protection with just one premium payment with no further payments for the coverage. The two others include the Oxford Life Assurance Once and the Oxford Life Assurance, which helps cover funerals or other expenses that may incur upon death.

As for annuities, there are 4 selections to choose from: Oxford Life Royal Selection (8% premium bonus), Oxford Life Silver Selection (4% premium bonus), Oxford Life Select Series (growth of the S&P 500 index), and Oxford Life Multi-select. The difference between these annuities is that the first three options are fixed indexed while the fourth option is multi-year guaranteed. As if the selection was not enough, they also provide Medicare Supplement Insurance.

• Oxford Life Prosperity Select (lifetime financial protection with one premium payment)
• Oxford Life Assurance Once
• Oxford Life Assurance
• Annuities

Pacific Life Insurance

Established in 1868 as The Pacific Mutual Life Insurance Company of California in Sacramento, the company was built on the foundation of selling a promise from a company to the policyholder. To show their support of whales and marine mammal preservation, the company logo has been featuring a humpback whale since 1997.

With an A+ rating from A.M Best, clients can choose a range of products from annuities, life insurance, mutual funds, and pension solutions. For those who are interested in annuities, Pacific Life offers variable, fixed index, immediate, and deferred income annuities. In terms of life insurance products, they have the variable universal, indexed universal, term, whole, and universal life insurance.

• Variable universal
• Indexed universal
• Term life
• Whole life
• Universal life
• Annuities

Penn Mutual

Established in 1847 in Philadelphia, Pennsylvania, Penn Mutual is headquartered in Horsham Township, Pennsylvania with a focus on life insurance and annuities in Philadelphia and across the US. Their sole focus on those two products makes them a pure insurance company, unlike other companies that cover other areas. Penn Mutual was created with a belief that generic products are not for everyone. Instead, products should be made based on the client’s requirements in mind.

With an A+ rating given by A.M. Best, their products target both individuals and businesses. Their insurance products include whole life, survivorship whole life, indexed universal life, and variable universal life while their annuities include indexed, fixed, variable, and single premium immediate.

• Business and personal lines
• Whole life
• Survivorship whole life
• Indexed universal life
• Variable universal life
• Annuities

Principal Life Insurance Company

Started in 1879 and headquartered in Des Moines, Iowa, Principal Life Insurance Company was founded on the concept of providing the best financial tools to its consumers. The company is given an A1 rating given by Moody’s Investors Service and is a member of the Fortune 500.

Principal Life offers a full assortment of products including life insurance, income protection, estate planning, annuities, mutual funds, retirement plan, and Principal SimpleInvest. To create a personalized investment mix, Principal SimpleInvest requires 3 things: current age, estimated retirement age, and how inept the client is at making a financial decision.

• Life insurance
• Income protection
• Estate planning
• Annuities
• Mutual funds
• Retirement plan
• Principal SimpleInvest

Progressive

Established in 1937, Progressive was built on the foundation to serve the unserved market of providing affordable basic insurance to everyone. The company began with auto insurance services but has now expanded into other areas. Progressive was the 3rd largest auto insurer in the U.S in 2017 and has 20.4 million active policies. Their line of products includes life, auto, property, commercial, and bundles (auto and property).

• Term life
• Universal life
• Whole life
• Bundled coverages

Progressive is a popular insurance choice in many locations:

• Los Angeles, CA – Progressive comes with an average monthly life insurance rate of $10 ($250,000 death benefit) for women, making it a great life insurance choice for women in L.A.
• Louisiana – Progressive is a great life insurance choice for seniors in Louisiana with a monthly cost of $69.17 (based on $75,000 of coverage for a 60-year-old male non-smoker buying a 10-year term life contract). In addition, Progressive is the best overall provider for manufactured home insurance in Louisiana offering great discounts designed for new homeowners.

Protective

Founded in 1907 in Birmingham, Alabama, Protective believes that its mission is to be the protector of tomorrow (as stated in their name). With an A1 rating given by Moody’s Investor Service, the company aims to serve its community by donating a share of its income in charitable events through their Protective Life Foundation. Their products include life insurance, particularly term, whole and universal, and fixed, immediate, indexed, and variable annuities.

• Term life
• Whole life
• Universal life
• Annuities

Prudential

Established in 1875 in Newark, New Jersey, Prudential is known for its ability to deliver the promise they make with their customers. The company has $1.648 trillion in assets under management and $4 trillion of life insurance in force globally. With 50 million policyholders, they operate out of the US, Asia, Europe, and Latin America. Prudential has a great selection for individuals including financial education, life insurance, health insurance, retirement, annuities, investments, workplace benefits and LINK by Prudential.

The thing that sets LINK apart from other products is that it is a tool that is developed to help clients plan their insurance. All the client needs to do is create a timeline with definite goals and plan how they will achieve that goal. Once that is complete, the advisors will reach out to discuss the insurance. for the business and employers’ side of products, group insurance and retirement solutions are available.

• Life insurance
• Retirement planning
• Annuities
• Investments
• Financial education

Sagicor Life Insurance Company

Sagicor Life Insurance Company was established in 1954 and built upon the foundation of Trust and to be there for the customer on each and every step of their journey. The company is licensed in 45 states and is rated A- by A.M Best. A wholly-owned subsidiary, the Sagicor Financial Company Limited, has been around for the last 175 years. Their products include permanent life insurance, term life insurance and annuities.

• Permanent life
• Term life
• Annuities

SBLI

Founded in 1907, SBLI has over 1 million policyholders since its establishment. The company has an A rating given by A.M Best and has given out over $4 billion in benefits. Unlike other companies, SBLI has this thing called SBLI Idea, a unique concept that focuses on making the customers the number one priority. They strive to treat their customers with the utmost care that SBLI Idea is even guaranteed by SBLI.

While other companies provide a range of products, SBLI only focuses on life insurance, which includes final expense, SBLI term, SBLI whole, accelerated underwriting, life insurance riders, SmartTerm 360, and SBLI Advantages Program. The great thing about SmartTerm 360 is that it is designed to fix the problem of having extra coverage.

Unlike other policies, SmartTerm 360 policy evolves with time and changes depending on the client’s needs and requirements.

• Final expense
• Term life
• Whole life
• Life insurance riders
• SmartTerm 360 (evolving coverage)

Securian Financial

Established in 1880 as The Bankers Association of Minnesota, Securian became the first life insurance company in Minnesota. In 1901, the company was restructured to a mutual insurance company and changed its name to Minnesota Mutual Life Insurance Company. In 2018, it adopted its parent company’s brand and later changed its name to Securian Financial.

Securin Financials is the 8th largest life insurance company in the U.S. based on the insurance in force and is rated A+ by A.M. Best. The company also has $1.3 trillion life insurance in force, over 21 million customers, and is ranked 455 in the Fortune 500. In terms of their products, they offer life insurance, accidental & illness insurance, and annuities.

• Life insurance
• Accidental death
• Annuities

Shelter Insurance

Established in 1946 as MFA Mutual Insurance Company, the company began its journey as a provider of car insurance specifically for those returning from World War II. Over time, the company transitioned to life insurance and other insurance products. Shelter Insurance is built on the belief that integrity and innovation is the key for success.

In terms of their products, Shelter Insurance offers auto, farm, home, business, and life insurance. The unique aspect of this company is that in terms of their life insurance, they also offer life insurance for children under the Junior Special Insurance.

• Business and personal lines
• Life insurance
• Junior Special life insurance for children

Sproutt

Based in New York City, Sproutt is a venture capital-backed life insurance company with a twist. On top of the typical life insurance policies (of which there are 7), they have developed an in-house Guided Artificial Intelligence Assessment (GAIA) system to provide tailor-made recommendations based on the 5 key pillars of longevity: movement, sleep, balance, nutrition, and emotional health.

Because of this unique system, they are able to offer both whole life and term life insurance policies with no medical exams required. They also have a guaranteed life insurance product designed for people with severe health conditions who want to ensure they have enough to cover funeral expenses.

• Seven typical life insurance options, plus
• Whole life (no medical)
• Term life (no medical)
• Guaranteed life for severe health conditions (funeral coverage)

State Farm

Established in 1922, StateFarm sold its very first auto policy during its first year. Over time, StateFarm transitioned from being an auto insurer to offering multiple financial products including educational plans, retirement plans, annuities, mutual funds, and health, car, business and life insurance.

Headquartered in Bloomington, Illinois, StateFarm has 84 million policies in place and is ranked 36th in Fortune 500 in terms of its revenues. Being one of the best insurance companies around, it is no wonder that the company is ranked as the #1 auto and home insurer in the U.S.

• Life insurance
• Retirement plans
• Annuities
• Mutual funds

Texas Life Insurance Company

Founded in 1901, Texas Life Insurance Company is the oldest life insurance company in Texas. The company specializes in providing insurance for worksites and even provides Voluntary Permanent Life Insurance. To be covered under this insurance, employees can get it through their employers via a payroll deduction.

With an A+ rating given by A.M. Best, Texas Life is licensed in the District of Columbia and every state in the U.S. except for New York (if you’re looking for coverage in NY, read our guide to the best life insurance companies in New York).

• Employee life insurance plans

Thrivent

Established in 1902, Thrivent was built to provide insurance to the Lutheran Community. A mutual company that is only accountable to its clients, it is ranked 368 in the Fortune 500 and is rated A++ By A.M Best. As of now, Thrivent has served over 2 million clients and offers a wide range of services including financial solutions, investments, insurance, and banking services. In terms of their products, the company offers life insurance, annuities, disability income insurance, and long-term care insurance.

• Life insurance
• Annuities
• Investments
• Long-term care insurance

TransAmerica

Established in 1904 and acquired by Aegon in 1999, TransAmerica is built on the foundation that financial security should be available to everyone. The company encourages its customers to place importance on their health in the pursuit of financial success. TransAmerica promotes this idea of taking care of their health and that if one’s health is not good, then there is no use of wealth.

The company has an A rating given by A.M Best and while it is not licensed in New York, the New York TransAmerica Financial Life Insurance Company is the one that underwrites insurance. Their line of products includes retirement solutions, mutual funds, annuities, insurance, employee benefits, and exchange-traded funds.

• Life insurance
• Retirement solutions
• Mutual funds
• Annuities

TruStage

Founded in 1935, TruStage is headquartered in Madison, Wisconsin and is rated A by A.M. Best. TruStage has relationships with 3500 credit unions to assist their customers and has insurance written by CMFG Life Insurance Company. Currently, the company has 20 million policyholders to date.

The best part about TruStage is that the insurance application process is simple and requires no medical exam. In their product line, they have life, accidental death & disbursement, auto, property, and health insurance.

• Life insurance
• Accidental death

UnitedHealthcare

Founded in 1998, UnitedHealthcare was built with the vision that caring for others has no limit. In 1988, UnitedHealth Group became the parent company of UnitedHealthcare and as of now, the company has over 26 million customers. Unlike other companies, UnitedHealthcare only provides services related to health and well being, instead of offering a suite of products.

The company’s healthcare products include Medicare for individuals over the age of 65, Medicaid for individuals with low income, and insurance for dental, vision, and businesses.

• Business and personal lines
• Supplemental life insurance
• Accidental death
• Term life

USAA Life Insurance Company

USAA Life Insurance Company was founded in 1963 alongside USAA Life Insurance Company of New York. The company itself is a subsidiary of the USAA Group, which was established in 1922. Originally, the company was made for the military and their family but now has extended its services to the public.

What sets USAA Life apart from its competitors is that they have a team of professionals known as the Survivor Relations TEAM (SRT) dedicated to grieving clients. Losing a loved one is especially difficult and in those tough times, the SRT is there to provide consultation to the surviving members.

Their product lines include term life insurance, permanent life insurance, guaranteed income annuities, and guaranteed savings annuities.

• Term life
• Permanent life
• Guaranteed income annuities
• Guaranteed savings annuities