Life Insurance Companies: These Options Will Make Your Decision Easy
- Business Finance
Yaseer Rashid- 0
- 8 minutes read
Life insurance is a good way to protect your family financially in the scenario of your death. The best life insurance companies enable you to secure enough funds to settle debts, replace your income, or cover the expenses that will be faced by your families like caring for aging parents or the education of children.
With that let us have a look at the top 10 life insurance companies across the globe by market share, market share, and market revenue.
Top 10 Life Insurance Companies Across The Globe
Thinking about your own death may not be a good thing. But once you start planning about purchasing life insurance, it is worth spending a little more time ensuring you are satisfied with the company you are purchasing it from. We have offered you the list of the 10 most popular life insurance companies. The top insurance companies have made it big and are thought by many to be the best Life Insurance Companies.
MetLife (Metropolitan Life Insurance Company)
MetLife was established in 1868 and is headquartered in New York. It is among the largest global providers of annuities, insurance, and employee benefit programs, serving nearly 90 million users. Situated in the United States, Latin America, Japan, Asia, Europe and the Middle East via its subsidiaries and affiliates, MetLife counts more than 90 of the top 100 Fortune 500 companies among all its corporate clients. It is the biggest life insurer in the U.S. in respect to total assets. So if you are looking for the best life insurance companies in USA, then you should think about this.
Prudential Financial
Prudential Financial was established in 1875 and it has its headquarters in Newark, NJ. So if you are interested in finding the popular life insurance companies in New Jersey then this can be an option. It is a Fortune 500 and Fortune Global 500 company along with a financial service leader. Some of the primary products it provides include annuities, life insurance, retirement plan, and mutual fund services. It has operations in the United States, Asia, Latin America, and Europe. It is the second largest life insurer in the United States in respect to the total assets.
TIAA-CREF (Teachers Insurance and Annuity Association – College Retirement Equities Fund)
TIAA-CREF was founded in 1918 and has its headquarters in New York. It is a full service financial service entity and the top retirement provider for the people who are employed in the research, academic, cultural, and medical field. TIAA-CREF presently serves 4.8 million users overall and is the third largest life insurer in the United States in terms of total assets.
New York Life Insurance Company
Next on our list of best life insurance companies in New York Life Insurance Company. It was established in 1845 and has its headquarters in New York. It is among the biggest life insurers across the globe presently. New York Life is among the three life insurers to hold the largest life insurance ratings that have been awarded to any life insurer by all the four independent rating agencies. It is the fourth largest life insurance company in the United States in respect to the total assets.
Lincoln National Life Insurance Company
The parent company of Lincoln National Life Insurance Company is Lincoln National Corporation. It was established in 1905 and has its headquarters in Fort Wayne, IN. This is a Fortune 500 company and among the largest investment and insurance management businesses in the U.S. It provides term life, universal life, variable universal life along with whole life insurance policies, and also it is the fifth-largest life insurer in the United States in respect to assets.
MassMutual (Massachusetts Mutual Life Insurance Company)
MassMutual was established in 1851 and has its headquarters in Springfield, MA. It is a Fortune 500 health and life insurance company that has 1,800 offices and nearly 13 million clients globally. Mass Mutual offers financial products like disability income insurance, life insurance, retirement/401(k) plan services, and annuities. It is the sixth biggest life insurer in the United States in terms of assets.
Northwestern Mutual Life Insurance Company
This life insurance company was situated in 1857 and has its headquarter in Milwaukee, WI. It is a US financial services mutual entity that particularizes in annuities, mutual funds, life insurance, and employee benefit services. Along with being a leader in offering individual life insurance in the United States, it is also the industry leader in complete individual life insurance dividends that are paid to policy owners. It has earned its position among the top 10 life insurance companies. It is the 7th largest life insurer in the United States in terms of assets.
Principal Financial Group
Principal Financial Group was established in 1879 and has its headquarters in Des Moines, IA. It is among the largest global financial companies that provide individuals, businesses, and institutional clients with a variation of financial services. Their range of items also has services, retirement plans, insurance, and investment items in 18 nations across Asia, Europe, Australia, Latin America, and the United States. It is the eighth-biggest life insurer in the United States in terms of assets.
Aflac Incorporated
They are popular for their duck. Aflac was established in 1955 and is headquartered in Columbus, GA. It is a Fortune 500 financial services entity that specializes in providing life insurance items in Japan and the United States. This company also has a duck who quacks the name of the company as a mascot. Aflac provides a wide range of insurance policies to more than 50 million users globally. It is specifically known for its payroll deduction insurance coverage, which enables cash payments to policyholders when a serious illness or accident takes place. It is the ninth-biggest life insurer in the U.S. in terms of assets.
Pacific Life Insurance Company
Last but not the least on our list of 10 Best Life Insurance Companies is Pacific Life. Established in 1868 and headquartered in Newport Beach, CA, it offers life insurance items, mutual funds, annuities, and other investment items. Over half of the top 100 U.S. companies are present clients of Pacific Life. It is the tenth biggest life insurer in the U.S. in terms of assets.
Conclusion
Ranking the biggest life insurance companies can be done in various ways. Shares of publicly traded entities can be purchased to help create a well-diversified investment portfolio that has good exposure to the healthcare and financial sectors. Evaluating which types of insurance an entity primarily works with helps decide which firms are competitors and which really are not. Viewing the sales figures, or premiums collected this year, one can also witness how public entities stack up against privately held or mutual entities which make up a huge segment of the industry.
