Insurance

Top 20 Largest Life Insurance Companies 2022 Reviews

While undoubtedly a complicated process, choosing the right life insurance company to fit your needs is one of the most important decisions you will make. Among the reasons to compare different companies is that your choice will cover your funeral arrangements and other financial obligations, including tuition, mortgage, and cost of living. Permanent life policies also build cash value over time, which may provide added financial stability during your life. Toady we are discuss about Top 20 Largest Life Insurance Companies 2022.

The best Top 20 Largest Life Insurance Companies 2022 are those that are financially sound, provide robust customer service, make the application process easy, and offer a wide range of features. To choose the best life insurance companies, we measured 91 insurers in these categories, collected more than 50 points of data for each insurer, and considered third-party ratings.

Top Largest Life Insurance Companies Details

Northwestern Mutual ranks number one among the largest life insurance companies with over $14 billion in direct premiums written and a 7.49% market share. It collects about $1 billion more in premiums than the next provider on the list, New York Life. MetLife, Prudential, and Mass Mutual make up the rest of the top five.

Company
Life insurance options

Market share in 2021

1. Northwestern Mutual

  • Term life

  • Whole life

  • Universal life

11.5%

2. New York Life

  • Term life

  • Whole life

  • Universal life

  • Variable universal life

7.3%

3. MassMutual

  • Term life

  • Whole life

  • Universal life

  • Variable universal life

7.1%

4. Prudential

Term life Universal life Variable universal life Indexed universal life

5.1%

5. Lincoln Financial

Term life Universal life Variable universal life Indexed universal life

4.2%

6. State Farm

Term life Whole life Universal life

3.3%

7. John Hancock

Term life Universal life Variable universal life Indexed universal life

3.2%

8. Guardian

Term life Whole life Universal life Variable universal life

3%

9. Transamerica

Term life Whole life Universal life Indexed universal life

2.8%

10. Pacific Life

Term life Universal life Variable universal life Indexed universal life

2.8%

11. Sammons (Midland National)

Term life Indexed universal life Guaranteed universal life

2.6%

12. MetLife

Life insurance offered through workplace plans only.

2.5%

13. Protective Life

Term life Whole life Universal life Variable universal life Indexed universal life

2.2%

14. AIG

Term life Whole life Variable universal life Indexed universal life Guaranteed universal life

2.2%

15. Nationwide

Term life Whole life Universal life Variable universal life

1.8%

16. Equitable (formerly AXA)

Term life Variable universal life Indexed universal life

1.8%

17. Primerica

Term life

1.7%

18. Penn Mutual

Term life Whole life Variable universal life Indexed universal life Guaranteed universal life

1.6%

19. National Life

Term life Whole life Universal life Variable universal life Indexed universal life

1.6%

20. Globe Life

Term life Whole life

1.5%

Why We Chose Top Largest Life Insurance Companies 

Nationwide garnered an A+ financial stability rating from AM Best, received very few customer complaints over the past three years, and was the second-ranked out of 21 life insurers for customer satisfaction in J.D. Power’s U.S. Individual Life Insurance Study.1 Plus, it boasts a wide range of policy types and riders, no-exam applications for up to $5 million in coverage for healthy individuals, and generous living benefits. This host of exceptional features puts it squarely at the top of our best life insurance companies list.

Nationwide has been in business for nearly a century and offers term, whole life, universal life (UL), variable UL (VUL), indexed UL (IUL), and final expense policies. Many of these policies can be opened with no medical exam, and applications may be approved the same day. The company also includes three accelerated death benefit riders on most of its policies at no cost. This allows policyholders to access part of their death benefit while still alive if they are diagnosed with a chronic, critical, or terminal illness. Note that if you’re looking for a final expense or burial insurance policy, you’ll need to be an existing customer to get one with Nationwide.

Rahat Ali

I'm Rahat Ali here with you. I write about Informative content. If you are looking for Education, Travel, Telecom, official contact info of any Company, Organization, or Person, let's read my content on this website.
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