Here are the top 10 life insurance companies in USA 2023. The United States offers a variety of products with long back history. According to the life insurance marketing and research association about half of US, households have less life insurance than they must have.
Our team has made a list of the top 10 life insurance companies in USA 2023 which would make it easier to shop for a life insurance policy with the best insurance company. We have well researched and evaluated the companies based on service, financial strength, history, customer service, available plans, riders, etc.
Prudential
Prudential founded in 1875 is one of the largest insurance companies in the United States. providing insurance, life insurance, investment management, mutual funds, asset management, and many more. it was ranked at 52nd position in 2018 Fortune 500 List and 69th position in 2017 Forbes Worlds Biggest Public Companies list.
Pros:
Less Customer complains
Cons:
Average Customer satisfaction
Life insurance policies:
Universal life insurance
Term life insurance
Variable Universal life insurance
Indexed Universal life insurance
Official website: www.pridential.com
Income: $374 million
Market Share in 2020: 5.5%
Rating by our team: 5/5
AM Best Rating: A++
Also Read: Prudential Life Insurance Review 2022
Northwestern Mutual
Northwestern founded in march, 1857 is one of the largest financial security companies based in Milwaukee providing financial planning, education planning, retirement planning, business planning, and much more. it is ranked at 90th position in Fortune 500 List and ranked at 368 in America's Best Employers 2021 by Forbes.
The Subsidiaries provided by the parent company Northwestern Mutual are
Northwestern Mutual Investment Services
Mason Street Advisors
Northwestern Mutual Investment Management Company
Northwestern Long Term Care Insurance Company
Pros:
Less Customer Complains
Highly rated in J.D Power Study
Cons:
Few term Riders are available
Life insurance policies:
Whole life insurance
universal life insurance
Term life insurance
Market share in 2020: 10.6%
Official website: www.nortwestrnmutual.com
Income: $425 million
Rating by our team: 5/5
AM Best Rating: A++
State Farm
State Farm founded in June 1992 is a large group of Insurance companies in the United States of America with 30 operations centers, 343 offices, and 18,000 agents. it provides insurance, financial services, automobile insurance, banking, and mutual funds. it is ranked at 36th position in Fortune 500 List.
Subsidiaries provided by the parent company State Farm are:
State Farm Life Insurance Company
State Farm Life and Accident Assurance
State Farm Fire and Casualty Company
State Farm Mutual Insurance Company of Texas
State Farm County Mutual Insurance Company of Texas
State Farm General Insurance Company
Amberjack ltd
State Farm Variable Product Trust
State Farm Guaranty Insurance Company
State Farm Specialty Insurance Company
Plaza One Realty Co
Insurance Placement Services
SF Insurance Placement Corporation of Canada
State Farm International Life Insurance Company ltd
State Farm Mutual Fund Trust
State Farm Associate's Funds Trust
State Farm International Service
State Farm Investment Management Corp
State Farm VP Management Corp
State Farm Bank F.S.B
State Farm General Insurance Company
State Farm Florida Insurance Company
State Farm Lloyds
Dover Bay Specialty Insurance Company
Official Website: www.statefarm.com
Income: 5.6 billion
Pros:
Safe drivers program and young drivers programs
Customer satisfaction
Cons:
No gap insurance
Life insurance policies:
Whole life insurance
Term life insurance
Universal life insurance
Official website:
Income:
Market share in 2020: 3.5%
Rating by us: 5/5
AM Best Rating: A++
New York Life
New York life founded in the year 1845 is the third-largest life insurance company in the United States of America. provides whole life insurance, universal life insurance, term life insurance, long-term care insurance, and much more. it is ranked at 67 positions in Fortune 500 List and ranked at 364 in America's Best Employers by Forbes.
Official Website: newyorklife.com
Income: 1 billion
Pros:
Customer satisfaction
Less customer complains
Cons:
No online Quotes
Life insurance policies:
Term life insurance
Permanent life insurance
Whole life insurance
Universal life insurance
Variable life insurance
Market share in 2020: 7.1%
Rating by our team: 4.5/5
AM Best Rating: A+
Lincoln Financial
Lincoln financial group founded by Perry Randall in 1905 is one of the largest insurance company headquarters in Radnor, Pennsylvania, United states providing investments, insurance, asset management, group protection, annuities, and much more. it's Fortune 250 American holder company.
Subsidiaries provided by the Parent Company Lincoln are:
Lincoln Life & Annuity Company of New York
Lincoln National Life Insurance Company
Lincoln Financial Securities
Lincoln Financial Distributors
Lincoln Financial Advisors
First Penn-Pacific Life Insurance Company
Pros:
Access to Live chat and Downloadable forms
Cons:
Average in customer satisfaction
Life Insurance Policies:
Term Life Insurance
Universal Life Insurance
Variable Life Insurance
Indexed Universal Life Insurance
Survivorship Life Insurance
Official Website: www.lfg.com
Revenue: $16 billion
Assets: $298 billion
Market share in 2020: 4.7%
Rating by our team: 4/5
AM Best Rating: A++
MassMutual
The Massachusetts Mutual life insurance company well known as MassMutual founded by George w. rice in may, 1851 is one of the largest life insurance companies providing long-term care insurance, life insurance, disability income insurance, universal life policies, and much more. it is ranked at 93rd position in the 2018 Fortune 500 List and employs more than 10,500 people internationally.
Revenue: $29 billion
Pros:
Less customer complains
Cons:
Takes medical exam for some coverage options
Life Insurance Policies:
Term Life Insurance
Whole Life Insurance
Universal Life Insurance
Variable Universal Life Insurance
Official Website: www.massmutual.com
Market share in 2020: 6.4%
Rating by our team: 5/5
AM Best Rating: A++
The Guardian Life Insurance of America
The Guardian Life Insurance of America founded in 1860 is one of the largest mutual life insurance companies with 3,000 financial representatives and 70+ agencies across the nation. it provides life insurance. vision insurance coverage, annuities investments, dental, etc. it is ranked at 239th position in the 2018 Fortune 500 List.
Pros:
Offers permanent life insurance
Offers survivorship insurance
Cons:
Average customer satisfaction
Life Insurance Policies:
Term Life Insurance
Permanent Life Insurance
Universal Life Insurance
Whole Life Insurance
Guardian EstateGuard
Official Website: www.guardianlife.com and www.guardiananytime.com
Assets: $85.5 billion
Market share in 2020: 3.2%
Rating by our team: 5/5
AM Best Rating: A++
John Hancock
John Hancock founded in 1862 was named in the honor of John Hancock, a patriot. it was acquired by Manulife financial in 2004. John Hancock provides mutual funds, life insurance, retirement plans, long-term care insurance, and much more.
Pros:
Discounts and rewards for healthy habits
Less customer complains
Cons:
Average customer satisfaction
Life Insurance Policies:
Term Life Insurance
Permanent Life Insurance
Universal Life Insurance
Indexed Universal Life Insurance
Variable Life Insurance
Revenue: $1.13 billion
Official Websites: www.johnhancock.com
Market share in 2020: 3.3%
Rating by our team: 4/5
AM Best Rating: A+
Transamerica
Transamerica corporation founded in 1928 is the largest American holding company headquarters in Baltimore, MD, USA. providing life insurance, health insurance, investments, retirement services, whole life insurance, and much more.
Pros:
Offers permanent life insurance
Offers high death benefit options
Cons:
More complaints from customers
Average customer satisfaction
Life Insurance Policies:
Term Life Insurance
Whole Life Insurance
Indexed Universal Life Insurance
Final Expense Insurance
Assets: $2 billion
Official Website: www.transamerica.com
Market share in 2020: 3%
Rating by our team: 4/5
AM Best Rating: A+
MetLife
Metropolitan life insurance company well known as MetLife founded in march 1868 is one among largest life insurance companies with 90 million customers across 60 countries. it provides life insurance, financial services, annuities, dental, Auto & Home, employee benefit programs, etc. its is ranked at 43rd position in the 2018 Fortune 500 List
Subsidiaries provided by the Parent Company MetLife are:
General American
MetLife Legal Plans
MetLife Resources
New England Financial
Walnut Street Securities, Inc
Safeguard Health Enterprises
Pros:
Identify theft protection
Cons:
average customer satisfaction
Life Insurance Policies:
Available only through Workplace
Individual Life Insurance
Permanent Life Insurance
Term Life Insurance
Income: $5.4 billion
Assets: $795.1 billion
Official Website: www.metlife.com
Market share in 2020: 2.8%
Rating by our team: 4/5
AM Best Rating: A+