Home Life insurance Best life insurance companies The 10 largest life insurance companies The 10 largest life insurance companies The 10 biggest life insurance companies grabbed almost 46% of the market share in the U.S. And Northwestern Mutual was the biggest life insurer of them all. Written by Chris Kissell Chris Kissell Chris Kissell is a Denver-based writer and editor with work featured on U.S. News & World Report, MSN Money, Fox Business, Forbes, Yahoo Finance, Money Talks News and more. Reviewed by John McCormick John McCormick John is the editorial director for CarInsurance.com, Insurance.com and Insure.com. Before joining QuinStreet, John was a deputy editor at The Wall Street Journal and had been an editor and reporter at a number of other media outlets where he covered insurance, personal finance, and technology. Updated on: November 11, 2024 Why you can trust Insure.com Quality Verified At Insure.com, we are committed to providing the timely, accurate and expert information consumers need to make smart insurance decisions. All our content is written and reviewed by industry professionals and insurance experts. Our team carefully vets our rate data to ensure we only provide reliable and up-to-date insurance pricing. We follow the highest editorial standards. Our content is based solely on objective research and data gathering. We maintain strict editorial independence to ensure unbiased coverage of the insurance industry. Choosing a large life insurance company can be beneficial because big companies offer financial stability, reliability, and better claims-paying ability. Larger companies typically have more substantial reserves, allowing them to handle claims efficiently, even during economic downturns. This stability means consumers are less likely to experience issues with delayed or unpaid claims, ensuring their loved ones receive the intended benefits when needed most. Last year, New York Life wrote more in premiums in the U.S. than any other insurer, according to data from the National Association of Insurance Commissioners (NAIC). New York Life is followed by Northwestern Mutual, Metropolitan and Prudential of America. Top 10 largest life insurance companies A full list of the top 10 largest life insurance companies, which is based on the dollar amount of direct premiums written, is below: RankCompanyPremium written1New York Life$13.28 billion2Northwestern Mutual$13.06 billion3Metropolitan$12.28 billion4Prudential of America$10.92 billion5MassMutual Life Insurance$9.20 billion6Lincoln National$8.32 billion7Nationwide$5.80 billion8State Farm$5.75 billion9Aegon U.S. Holding$5.10 billion10Minnesota Mutual$4.95 billion Major insurance companies such as MassMutual have the financial strength to be adept at serving their customers’ needs, says Paul LaPiana, head of MMUS product at MassMutual and senior vice president at MassMutual Financial Advisors. “We need to have access to capital and be strategic about our investments so that we are financially strong and secure,” says LaPiana. He adds that this solid financial footing allows MassMutual to deliver on commitments decades into the future and to pay dividends to policyowners. Below, we break down the largest insurance companies in the U.S. by company, outlining what each offers: 1. New York Life For nearly 180 years, New York Life has sold life insurance to Americans. It is the largest mutual insurer in the U.S. The company takes pride in its financial strength and has paid dividends for over 167 consecutive years. New York Life is based in New York and sells term, whole life, universal and variable universal life insurance policies. 2. Northwestern Mutual This Milwaukee-based insurance company has roots that stretch back to 1859 and says 97% of its clients stay with the insurer year after year. Northwestern Mutual sells term, whole life, universal and variable universal plans. 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Metropolitan Founded in 1868, New York-based MetLife operates in more than 40 markets worldwide. MetLife sells term, group variable universal, group universal and accidental death life insurance policies. 4. Prudential of America Newark, New Jersey-based Prudential began life in 1875. The company hired Julia Babbit, Prudential’s first female life insurance agent, a year later. Prudential sells term, whole, universal, indexed universal, indexed variable and variable universal life insurance policies. 5. MassMutual Life Insurance Like many of the largest life insurance companies, MassMutual has a long history. Founded in 1851, it has consistently issued dividends since the 1860s. The company, based in Springfield, Massachusetts, sells term, whole life, universal and variable universal life insurance policies. 6. Lincoln National Radnor, Pennsylvania-based Lincoln National is a relative newcomer compared to some of the insurers on this list. Founded in 1905, Lincoln National sells term, universal, indexed universal and variable universal life insurance policies. 7. Nationwide Nationwide sold its first policy in 1926 when it was the Farm Bureau Mutual Automobile Insurance Co. It changed its name to Nationwide in 1955 due to its ambitions to become a coast-to-coast company. The insurer sells term, whole life, universal and variable insurance. 8. State Farm The nation’s biggest property and casualty insurer also is a major player in the life insurance market. The Bloomington, Illinois, company has been in business for over a century. State Farm sells term and whole life policies. It also sells universal, survivorship universal and joint universal coverage. 9. Aegon U.S. Holding Based in The Hague, Netherlands, Aegon primarily does business through Transamerica in North America, which dates back to the turn of the 20th century. Transamerica sells term, index universal, whole life and final expense life insurance policies. 10. Minnesota Mutual St. Paul-based Minnesota Mutual is a subsidiary of Securian Financial. The company’s history stretches back to 1880. It offers term, whole life and universal life insurance policies. The 10 biggest life insurance companies provide financial stability, large death benefits and excellent customer service. If that’s what you’re looking for, these might be the insurers for you. However, life insurance needs are often unique, and you should always do some additional research to find an insurer that offers what you need. Frequently Asked Questions What is life insurance? Life insurance is a type of coverage that pays a benefit to your chosen beneficiaries upon your death. Most people earmark life insurance proceeds for a spouse or other family members, but some purchase this coverage to leave money to a charity or simply to provide funds for burial expenses. What are the different types of life insurance? There are two major categories of life insurance: Term and whole life. Term life insurance coverage lasts for a certain period and then expires at the end of that time frame. If you die within the term that your policy is still active, your beneficiaries will receive a death benefit. However, if you do not die within this period, the policy expires without a benefit being paid. Whole life insurance also pays a benefit at your death. However, some of the money you contribute to premiums is invested and can be withdrawn while you are still living. Unlike a term policy, a whole life policy remains active as long as you pay the premiums. How does life insurance work? In most cases, life insurance pays out a benefit upon your death to beneficiaries you designate. This is the sole purpose of a term life insurance policy. However, whole life insurance offers other benefits. For example, some of the money you pay in premiums builds cash value and may be available to withdraw while you are still alive. What should I consider when buying life insurance? There are many factors to consider when buying life insurance. If you have a young family, it often makes sense to buy a term policy that remains active only as long as you have great financial responsibilities for raising the family. Term life insurance tends to be cheaper than whole life insurance. With term insurance, once the kids leave the nest and you no longer need to support them, you can simply let your term policy expire. However, whole life insurance can make sense if you want a policy that lasts the rest of your life and an additional investment account. Just remember that whole life insurance is costlier than term life insurance. × Get Free Life Insurance Quotes Today! Zip Code Please enter valid zip Age Age 16 – 20 21 – 24 25 – 34 35 – 44 45 – 54 55 – 64 65+ Coverage Amount Coverage Amount $50,000 – $100,000 $100,000 – $200,000 $200,000 – $300,000 $400,000 – $500,000 $500,000 – $1,000,000 $1,000,000 – $2,000,000 $2,000,000 – $5,000,000 $5,000,000+ Coverage Type Coverage Type Whole Life Term Life Final Expense Not Sure Gender Gender Male Female Non-Binary Tobacco Use Yes No Compare Quotes Chris KissellContributing Researcher . .Chris Kissell is a Denver-based writer and editor with work featured on U.S. News & World Report, MSN Money, Fox Business, Forbes, Yahoo Finance, Money Talks News and more. Related Articles Term Life Insurance Index: Q3 sales steady amid strong market performance By Nupur Gambhir How much term life insurance costs By Huma Naeem How to get life insurance if you’re uninsurable By Penny Gusner What to avoid before the life insurance medical exam By Desiree Ghazi Life insurance for people with dementia By Satta Sarmah-Hightower Life insurance calculator: How much life insurance do you need? By Huma Naeem On this page Top 10 largest life insurance companies1. New York Life2. Northwestern Mutual3. Metropolitan4. Prudential of America5. MassMutual Life Insurance6. Lincoln National7. Nationwide8. State Farm9. Aegon U.S. Holding10. Minnesota MutualFrequently Asked Questions ZIP Code Please enter valid ZIP See rates