Life insurance is an important financial protection that provides a lump sum to your loved ones in the event of your death. In the United States, there are a large number of life insurance companies that offer various types of life insurance policies. However, it can be difficult to choose the right one for your needs.
Top 10 Biggest Life Insurance Companies in the United States
Here are the top 10 biggest life insurance companies in the United States based on their market share:
Rank |
Company |
Market Share |
|---|---|---|
1 |
Northwestern Mutual |
6.42% |
2 |
New York Life |
5.62% |
3 |
MetLife |
5.51% |
4 |
Prudential Financial |
4.99% |
5 |
Massachusetts Mutual Life Insurance Company |
3.84% |
6 |
American International Group |
3.49% |
7 |
Lincoln National Corporation |
3.42% |
8 |
Aegon |
2.68% |
9 |
Transamerica Corporation |
2.61% |
10 |
Principal Financial Group |
2.50% |
1. Northwestern Mutual
Northwestern Mutual is the largest life insurance company in the United States with a market share of 6.42%. They offer a wide range of life insurance policies, including term life, whole life, and universal life insurance.
Founded in 1857, Northwestern Mutual has been providing financial security to their customers for more than 160 years. They have a strong financial rating from the major rating agencies, including A.M. Best, Moody’s, and Standard & Poor’s.
Northwestern Mutual has a reputation for excellent customer service and financial stability. They have more than $300 billion in assets under management and pay out more than $5 billion in dividends to their policyholders every year.
If you are looking for a reliable and financially stable life insurance company, Northwestern Mutual is definitely worth considering.
FAQ:
Q: What types of life insurance policies does Northwestern Mutual offer?
A: Northwestern Mutual offers term life, whole life, and universal life insurance policies.
Q: Does Northwestern Mutual have a strong financial rating?
A: Yes, Northwestern Mutual has a strong financial rating from the major rating agencies, including A.M. Best, Moody’s, and Standard & Poor’s.
Q: Does Northwestern Mutual pay dividends to their policyholders?
A: Yes, Northwestern Mutual pays out more than $5 billion in dividends to their policyholders every year.
Q: How long has Northwestern Mutual been in business?
A: Northwestern Mutual has been in business for more than 160 years, since 1857.
Q: Is Northwestern Mutual known for good customer service?
A: Yes, Northwestern Mutual has a reputation for excellent customer service.
2. New York Life
New York Life is the second largest life insurance company in the United States with a market share of 5.62%. They are one of the oldest life insurance companies in the country, founded in 1845.
New York Life offers a variety of life insurance policies, including term life, whole life, and universal life insurance. They also offer a range of investment products, including annuities and mutual funds.
New York Life has a strong financial rating from the major rating agencies and a reputation for excellent customer service. They have more than $300 billion in assets under management and pay out more than $1 billion in dividends to their policyholders every year.
If you are looking for a well-established and financially stable life insurance company, New York Life is a great choice.
FAQ:
Q: What types of life insurance policies does New York Life offer?
A: New York Life offers term life, whole life, and universal life insurance policies.
Q: Does New York Life offer investment products?
A: Yes, New York Life offers a range of investment products, including annuities and mutual funds.
Q: Does New York Life have a strong financial rating?
A: Yes, New York Life has a strong financial rating from the major rating agencies.
Q: Does New York Life pay dividends to their policyholders?
A: Yes, New York Life pays out more than $1 billion in dividends to their policyholders every year.
Q: How long has New York Life been in business?
A: New York Life has been in business since 1845, making them one of the oldest life insurance companies in the country.
Q: Is New York Life known for good customer service?
A: Yes, New York Life has a reputation for excellent customer service.
3. MetLife
MetLife is the third largest life insurance company in the United States with a market share of 5.51%. They offer a variety of life insurance policies, including term life, whole life, and universal life insurance.
MetLife was founded in 1868 and has since become one of the largest insurance companies in the world. They have a strong financial rating from the major rating agencies and pay out more than $1 billion in claims to their policyholders every year.
MetLife also offers a range of other insurance products, including dental, vision, and disability insurance. They have a reputation for excellent customer service and a commitment to diversity and inclusion.
If you are looking for a well-established and financially stable life insurance company with a range of insurance products, MetLife is a great choice.
FAQ:
Q: What types of life insurance policies does MetLife offer?
A: MetLife offers term life, whole life, and universal life insurance policies.
Q: Does MetLife offer other insurance products?
A: Yes, MetLife offers a range of other insurance products, including dental, vision, and disability insurance.
Q: Does MetLife have a strong financial rating?
A: Yes, MetLife has a strong financial rating from the major rating agencies.
Q: Does MetLife pay out claims to their policyholders?
A: Yes, MetLife pays out more than $1 billion in claims to their policyholders every year.
Q: How long has MetLife been in business?
A: MetLife was founded in 1868, making them one of the largest insurance companies in the world.
Q: Is MetLife known for good customer service?
A: Yes, MetLife has a reputation for excellent customer service.
4. Prudential Financial
Prudential Financial is the fourth largest life insurance company in the United States with a market share of 4.99%. They offer a variety of life insurance policies, including term life, whole life, and universal life insurance.
Prudential was founded in 1875 and has since become a leading provider of insurance and financial services around the world. They have a strong financial rating from the major rating agencies and pay out more than $3 billion in claims to their policyholders every year.
In addition to life insurance, Prudential also offers a range of other financial products, including retirement planning, investment management, and annuities.
If you are looking for a well-established and financially stable life insurance company with a broad range of financial products, Prudential Financial is a great choice.
FAQ:
Q: What types of life insurance policies does Prudential Financial offer?
A: Prudential Financial offers term life, whole life, and universal life insurance policies.
Q: Does Prudential Financial offer other financial products?
A: Yes, Prudential Financial offers a range of other financial products, including retirement planning, investment management, and annuities.
Q: Does Prudential Financial have a strong financial rating?
A: Yes, Prudential Financial has a strong financial rating from the major rating agencies.
Q: Does Prudential Financial pay out claims to their policyholders?
A: Yes, Prudential Financial pays out more than $3 billion in claims to their policyholders every year.
Q: How long has Prudential Financial been in business?
A: Prudential Financial was founded in 1875, making them a leading provider of insurance and financial services around the world.
Q: Is Prudential Financial known for good customer service?
A: Yes, Prudential Financial has a reputation for excellent customer service.
5. Massachusetts Mutual Life Insurance Company
Massachusetts Mutual Life Insurance Company (MassMutual) is the fifth largest life insurance company in the United States with a market share of 3.84%. They offer a variety of life insurance policies, including term life, whole life, and universal life insurance.
Founded in 1851, MassMutual has been providing financial protection to their customers for more than 170 years. They have a strong financial rating from the major rating agencies and pay out more than $1 billion in claims to their policyholders every year.
In addition to life insurance, MassMutual also offers a range of financial products, including retirement planning, investment management, and annuities.
If you are looking for a well-established and financially stable life insurance company with a long history of providing financial protection, MassMutual is a great choice.
FAQ:
Q: What types of life insurance policies does MassMutual offer?
A: MassMutual offers term life, whole life, and universal life insurance policies.
Q: Does MassMutual offer other financial products?
A: Yes, MassMutual offers a range of other financial products, including retirement planning, investment management, and annuities.
Q: Does MassMutual have a strong financial rating?
A: Yes, MassMutual has a strong financial rating from the major rating agencies.
Q: Does MassMutual pay out claims to their policyholders?
A: Yes, MassMutual pays out more than $1 billion in claims to their policyholders every year.
Q: How long has MassMutual been in business?
A: MassMutual was founded in 1851, making them one of the oldest and most respected life insurance companies in the country.
Q: Is MassMutual known for good customer service?
A: Yes, MassMutual has a reputation for excellent customer service.
6. American International Group
American International Group (AIG) is the sixth largest life insurance company in the United States with a market share of 3.49%. They offer a variety of life insurance policies, including term life, whole life, and universal life insurance.
AIG was founded in 1919 and has since become one of the largest insurance companies in the world. They have a strong financial rating from the major rating agencies and pay out more than $2 billion in claims to their policyholders every year.
In addition to life insurance, AIG also offers a range of other insurance products, including property, casualty, and travel insurance.
If you are looking for a well-established and financially stable life insurance company with a broad range of insurance products, AIG is a great choice.
FAQ:
Q: What types of life insurance policies does AIG offer?
A: AIG offers term life, whole life, and universal life insurance policies.
Q: Does AIG offer other insurance products?
A: Yes, AIG offers a range of other insurance products, including property, casualty, and travel insurance.
Q: Does AIG have a strong financial rating?
A: Yes, AIG has a strong financial rating from the major rating agencies.
Q: Does AIG pay out claims to their policyholders?
A: Yes, AIG pays out more than $2 billion in claims to their policyholders every year.
Q: How long has AIG been in business?
A: AIG was founded in 1919, making them one of the largest insurance companies in the world.
Q: Is AIG known for good customer service?
A: Yes, AIG has a reputation for excellent customer service.
7. Lincoln National Corporation
Lincoln National Corporation is the seventh largest life insurance company in the United States with a market share of 3.42%. They offer a variety of life insurance policies, including term life, whole life, and universal life insurance.
Lincoln National Corporation was founded in 1905 and has since become a leading provider of insurance and financial services. They have a strong financial rating from the major rating agencies and pay out more than $1 billion in claims to their policyholders every year.
In addition to life insurance, Lincoln National Corporation also offers a range of financial products, including retirement planning, investment management, and annuities.
If you are looking for a well-established and financially stable life insurance company with a broad range of financial products, Lincoln National Corporation is a great choice.
FAQ:
Q: What types of life insurance policies does Lincoln National Corporation offer?
A: Lincoln National Corporation offers term life, whole life, and universal life insurance policies.
Q: Does Lincoln National Corporation offer other financial products?
A: Yes, Lincoln National Corporation offers a range of other financial products, including retirement planning, investment management, and annuities.
Q: Does Lincoln National Corporation have a strong financial rating?
A: Yes, Lincoln National Corporation has a strong financial rating from the major rating agencies.
Q: Does Lincoln National Corporation pay out claims to their policyholders?
A: Yes, Lincoln National Corporation pays out more than $1 billion in claims to their policyholders every year.
Q: How long has Lincoln National Corporation been in business?
A: Lincoln National Corporation was founded in 1905, making them a leading provider of insurance and financial services.
Q: Is Lincoln National Corporation known for good customer service?
A: Yes, Lincoln National Corporation has a reputation for excellent customer service.
8. Aegon
Aegon is the eighth largest life insurance company in the United States with a market share of 2.68%. They offer a variety of life insurance policies, including term life, whole life, and universal life insurance.
Aegon was founded in the Netherlands in 1983 and has since become a leading provider of insurance and financial services around the world. They have a strong financial rating from the major rating agencies and pay out more than $1 billion in claims to their policyholders every year.
In addition to life insurance, Aegon also offers a range of other financial products, including retirement planning, investment management, and annuities.
If you are looking for a well-established and financially stable life insurance company with a global presence, Aegon is a great choice.