November, 23 2017

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Life insurance reviews, news and prices from the top companies

Largest Life Insurance Companies 2017

Largest Life Insurance Companies 2017

There over nine hundred life insurance companies in the United States in 2017 and there are two main ways to determine which are the largest insurers.  The criteria include; by largest writers of premiums, and rank by total assets.  While these are important ways to determine the largest life insurance companies in America it’s not necessarily the best way to choose the right company for your specific situation.  Every life insurance company has their own underwriting guideline which means one insurer may offer a much better rate over another insurer for the same exact policy.

For example, Prudential will often have the lowest rate in the entire country in many areas but will not typically have the lowest rate for someone who is only on a blood pressure medication.  The rule of thumb when shopping for life insurance is to choose a company that has been in business a long time, has a high financial rating and one that will offer you the best price.  All life insurance policies are basically the same so it’s important to choose the company the will offer the best rate for your profile, i.e. health and lifestyle.

 

Largest Life Insurance Companies 2017

 

 

Top 30 Largest Life Insurance Companies By Assets

1.MetLife (now Brighthouse Financial)

2.Prudential

3.Berkshire Hathaway

4.AIG

5.New York Life

6.Manulife (John Hancock)

7.TIAA

8.Lincoln Financial Group

9.Northwestern Mutual

10.State Farm

11.Jackson National

12.MassMutual

13.Aegon (Transamerica)

14.Principal Financial

15.Hartford

16.Voya

17.Nationwide Mutual

18.AXA Equitable

19.USAA

20.Pacific Mutual

21.Aflac

22.Allianz

23.Liberty Mutual

24.Allstate

25.Genworth

26.Travlers

27.Thrivent

28.Protective Life  

29.Unum

30.American Equity

 

Top 10 Largest Writers of Individual Life Insurance By Direct Premiums

1.Northwestern Mutual

2.New York Life

3.MetLife

4.Lincoln National

5.Prudential

6.MassMutual

7.John Hancock

8.State Farm

9.Aegon (Transamerica)

10.Aflac

 

5  Largest Group Life Insurance By Direct Written Premium

1.MetLife

2.Prudential

3.Securian

4.New York Life

5.Cigna

 

Understanding The Largest Life Insurance Companies 2017

As you can see above, it’s no surprise that most most well-known life insurance in America are also the largest life insurance companies in America.  While the size of a life insurance company and it’s brand recognition are important, there are other factors to consider when shopping for life insurance.  The secret when it comes to life insurance, specifically term life insurance, price is the first factor you should look at. Why? This is because all term policies are basically the same and have the same exclusions. This is why it’s so important when shopping for life insurance to compare rates  from all the top companies.  Also, each life insurance company will underwriter you differently. While some companies will offer the top rate class if you are taking a blood pressure medication, others will not. Sames goes other medications and health issues. Some companies want certain risks while others do not.

Take a look below at some sample rates for a 40 year old male:

$500k 20 Year Level Term Guaranteed
A.M. Best Ratings as of:  2017
Protective Life Insurance Company A.M. Best Rating:  A+
Select Preferred Non-Tobacco   P+ Custom Choice No Lapse UL – 20 Year
$336.20 /yr    or     $28.91 /mo
 
Ohio National Life Assurance Corporation A.M. Best Rating:  A+
Super Preferred Non-Smoker   P+ FlexTerm Series X – 20 Year
$340.00 /yr    or     $29.41 /mo
 
Lincoln National Life Insurance Company A.M. Best Rating:  A+
Preferred Plus Non-tobacco   P+ TermAccel (R) Level Term 20 (eApp ONLY)
$346.00 /yr    or     $30.28 /mo
 
American General Life Insurance Company A.M. Best Rating:  A
Preferred Plus Non-Tobacco   P+ Select-a-Term – 20 Year
$354.00 /yr    or     $30.62 /mo
 
Pacific Life Insurance Company A.M. Best Rating:  A+
Super Preferred NonTobacco   P+ Pacific PRIME Term 20
$355.00 /yr    or     $29.59 /mo
 
Ohio National Life Assurance Corporation A.M. Best Rating:  A+
Super Preferred Non-Smoker   P+ FlexTerm Series X – 20 Year Plus
$355.00 /yr    or     $30.71 /mo
 
John Hancock Life Insurance Company USA A.M. Best Rating:  A+
Super Preferred Non-Smoker   P+ Term 20
$358.00 /yr    or     $30.52 /mo
 
Principal National Life Insurance Co A.M. Best Rating:  A+
Super Preferred non-tobacco   P+ 20-Year Term (2017)
$360.00 /yr    or     $31.50 /mo
 
Independent Order of Foresters A.M. Best Rating:  A
Preferred Plus Non-Tobacco   P+ Foresters Your Term – 20 Year
$360.00 /yr    or     $31.51 /mo
 
Pacific Life Insurance Company A.M. Best Rating:  A+
Preferred Best No Nicotine   P+ PL Promise Term 20
$365.00 /yr    or     $31.03 /mo
 
Massachusetts Mutual Life Ins (Haven) A.M. Best Rating:  A++
Ultra Preferred Non-Tobacco   P+ Haven Term – 20 Year
$367.00 /yr    or     $30.58 /mo
 
The Penn Mutual Life Insurance Company A.M. Best Rating:  A+
Preferred Best Non-Smoker   P+ Guaranteed 20 Year Term
$370.00 /yr    or     $32.19 /mo
 
Minnesota Life Insurance Company A.M. Best Rating:  A+
Preferred Select Non-Tobacco   P+ Advantage Elite Select Life – 20 Year
$370.00 /yr    or     $32.56 /mo
 
Banner Life Insurance Company A.M. Best Rating:  A+
Pfd Plus Non-Tobacco   P+ OPTerm 20 – 20 Year
$379.99 /yr    or     $33.25 /mo
 
Midland National Life Insurance Company A.M. Best Rating:  A+
Preferred Plus Non-tobacco   P+ Premier CS7 – 20 Year Term
$380.00 /yr    or     $33.44 /mo
 
North American Co for Life and Health A.M. Best Rating:  A+
Super Preferred Non-Tobacco   P+ ADDvantage 20
$380.00 /yr    or     $33.44 /mo
 
Minnesota Life Insurance Company A.M. Best Rating:  A+
Preferred Select Non-Tobacco   P+ Advantage Elite – 20 Year (w/ext conv.)
$381.10 /yr    or     $33.54 /mo
 
United of Omaha Life Insurance Company A.M. Best Rating:  A+
Preferred Plus Non-Tobacco   P+ Term Life Answers 20
$382.50 /yr    or     $33.47 /mo
 
Principal National Life Insurance Co A.M. Best Rating:  A+
Super Preferred non-tobacco   P+ 20-Year Term (2017) w /ConvExt
$384.00 /yr    or     $33.60 /mo
 
Nationwide Life and Annuity Insurance Co A.M. Best Rating:  A+
Preferred Plus Nontobacco   P+ YourLife(SM) GLT 20 Year Term
$385.00 /yr    or     $34.27 /mo
 
American National Insurance Company A.M. Best Rating:  A
Preferred Plus Non-tobacco   P+ Signature Term 20
$390.00 /yr    or     $33.70 /mo
 
Cincinnati Life Insurance Company A.M. Best Rating:  A
Preferred Plus Non-Smoker   P+ LifeHorizons Termsetter 20
$405.00 /yr    or     $35.64 /mo
 
AXA Equitable Life Insurance Company A.M. Best Rating:  A
Preferred Elite Non-Tobacco   P+ BrightLife(R) Term 20 (157)
$410.00 /yr    or     $37.64 /mo
 
Mutual Trust Life Insurance Company A.M. Best Rating:  A
Preferred Plus Non-Tobacco   P+ SelecTerm-20
$415.00 /yr    or     $37.35 /mo
 
Symetra Life Insurance Company A.M. Best Rating:  A
Super Preferred Non-Nicotine   P+ Symetra Term 2016 20
$420.00 /yr    or     $36.75 /mo
 
American United Life Insurance Company A.M. Best Rating:  A+
Elite Preferred Nontobacco   P+ American Protector Plus – 20-Year Level
$420.00 /yr    or     $36.96 /mo
 
Savings Bank Life Insurance Co of MA A.M. Best Rating:  A
Preferred Plus Non-Nicotine   P+ T-20/20 – 20 Year TermkR
$424.35 /yr    or     $36.92 /mo
 
Massachusetts Mutual Life Insurance A.M. Best Rating:  A++
Ultra Preferred Non-Tobacco   P+ Vantage Term 20
$425.00 /yr    or     $36.98 /mo
 
Guardian Life Insurance Co of America A.M. Best Rating:  A++
Elite   P+ Level Term Gold 20
$430.00 /yr    or     $36.91 /mo
 
Ameritas Life Insurance Corp A.M. Best Rating:  A
Preferred Plus Non-Tobacco   P+ Keystone Term 20
$430.00 /yr    or     $37.00 /mo
 
American General Life Insurance Company A.M. Best Rating:  A
Preferred Non-Tobacco   Pf Select-a-Term – 20 Year
$434.00 /yr    or     $37.54 /mo
 
Protective Life Insurance Company A.M. Best Rating:  A+
Preferred Non-Tobacco   Pf Custom Choice No Lapse UL – 20 Year
$435.53 /yr    or     $37.45 /mo
 
TIAA-CREF Life Insurance Company A.M. Best Rating:  A++
Preferred Plus Non-Tobacco   P+ 20-Year Level Term
$436.00 /yr    or     $38.15 /mo
 
Lincoln National Life Insurance Company A.M. Best Rating:  A+
Preferred Non-tobacco   Pf TermAccel (R) Level Term 20 (eApp ONLY)
$440.00 /yr    or     $38.51 /mo
 
Principal National Life Insurance Co A.M. Best Rating:  A+
Preferred non-tobacco   Pf 20-Year Term (2017)
$445.00 /yr    or     $38.94 /mo
 
Lincoln National Life Insurance Company A.M. Best Rating:  A+
Preferred Plus Non-tobacco   P+ LifeElement (R) Level Term 20 (2017)
$445.00 /yr    or     $38.95 /mo
 
John Hancock Life Insurance Company USA A.M. Best Rating:  A+
Preferred Non-Smoker  Pf Term 20
$447.00 /yr    or     $38.12 /mo
 
Pacific Life Insurance Company A.M. Best Rating:  A+
Preferred Plus NonTobacco   Pf Pacific PRIME Term 20
$450.00 /yr    or     $37.51 /mo
 
Pacific Life Insurance Company A.M. Best Rating:  A+
Preferred No Nicotine   Pf PL Promise Term 20
$450.00 /yr    or     $38.25 /mo
 
Guardian Life Insurance Co of America A.M. Best Rating:  A++
Elite   P+ Level Term Gold 20 (xtended conversion)
$450.00 /yr    or     $38.62 /mo
 
Ohio National Life Assurance Corporation A.M. Best Rating:  A+
Preferred Non-Smoker   Pf FlexTerm Series X – 20 Year
$450.00 /yr    or     $38.93 /mo
 
Banner Life Insurance Company A.M. Best Rating:  A+
Preferred Non-Tobacco   Pf OPTerm 20 – 20 Year
$452.00 /yr    or     $39.55 /mo
 
Minnesota Life Insurance Company A.M. Best Rating:  A+
Preferred Non-Tobacco   Pf Advantage Elite Select Life – 20 Year
$455.00 /yr    or     $40.04 /mo
 
Ohio National Life Assurance Corporation A.M. Best Rating:  A+
Preferred Non-Smoker   Pf FlexTerm Series X – 20 Year Plus
$460.00 /yr    or     $39.79 /mo
 
Independent Order of Foresters A.M. Best Rating:  A
Preferred Non-Tobacco   Pf Foresters Your Term – 20 Year
$460.00 /yr    or     $40.25 /mo
 
The Penn Mutual Life Insurance Company A.M. Best Rating:  A+
Preferred Plus Non-Smoker  P+ Guaranteed 20 Year Term
$465.00 /yr    or     $40.46 /mo
 
Minnesota Life Insurance Company A.M. Best Rating:  A+
Preferred Non-Tobacco   Pf Advantage Elite – 20 Year (w/ext conv.)
$468.65 /yr    or     $41.24 /mo
 
Columbus Life Insurance Company A.M. Best Rating:  A+
Super Preferred Non-tobacco   P+ Nautical Term – 20 Year
$470.00 /yr    or     $39.95 /mo
 
National Life Insurance Company A.M. Best Rating:  A
Elite Preferred Nontobacco   P+ GL-20 – 20 Year Level Term
$470.00 /yr    or     $41.36 /mo
 
American National Insurance Company A.M. Best Rating:  A
Preferred Non-tobacco   Pf Signature Term 20
$475.00 /yr    or     $41.04 /mo
As you can with so many life insurers to choose from it’s important to compare multiple quotes to find the best company for your profile.

Source: NAIC data