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Mutual life insurers
- Mutual life insurers 17
- Shareholder-owned life insurers 20
- P&C-affiliated life insurers 12
- Farm Bureau life insurers 7
- Fraternal benefit societies 6
- Final expense and senior market specialists 9
- Worksite and supplemental insurers 7
- Annuity and retirement specialists 12
- Closed-block and legacy administrators 8
- Health insurer life affiliates 2
| # | Insurer | Type | Market share (2024) | AM Best |
|---|---|---|---|---|
| 1 | Northwestern MutualThe largest U.S. individual life insurer by premiums, a policyowner-owned mutual from Milwaukee that sells participating whole life through its own advisors. | Mutual life insurers | 8.74% | A++ (Superior) |
| 2 | New York LifeThe largest U.S. mutual life insurer, sold through career agents; it also runs the AARP life insurance program and the former Cigna group life business. | Mutual life insurers | 5.80% | A++ (Superior) |
| 3 | MassMutualSpringfield, Massachusetts mutual founded in 1851, a leading seller of participating whole life through financial professionals; it also owns MassMutual Ascend. | Mutual life insurers | 5.57% | A++ (Superior) |
| 8 | Pacific LifeNewport Beach life and annuity insurer under a mutual holding company, sold through independent advisors and best known for indexed and variable universal life. | Mutual life insurers | 3.31% | A+ (Superior) |
| 11 | Guardian LifeA New York mutual founded in 1860 that sells participating whole life, term and disability coverage through financial professionals and pays annual dividends. | Mutual life insurers | 2.75% | A++ (Superior) |
| 14 | National Life GroupA Vermont mutual holding company group founded in 1848, known for indexed universal life with Living Benefits sold through independent agents. | Mutual life insurers | 2.18% | A+ (Superior) |
| 15 | Penn MutualA Philadelphia-area mutual founded in 1847, selling participating whole life, term, indexed and variable universal life through financial professionals. | Mutual life insurers | 2.06% | A+ (Superior) |
| 17 | Mutual of OmahaAn Omaha-based, policyholder-owned insurer founded in 1909 that sells term, final expense whole life and indexed UL, plus Medicare supplement and LTC coverage. | Mutual life insurers | 1.82% | A+ (Superior) |
| 21 | Securian FinancialSt. Paul-based insurer owned by a mutual holding company, selling IUL, VUL and term through independent advisors plus coverage via employers and lenders. | Mutual life insurers | 1.31% | A+ (Superior) |
| 25 | Western & Southern Financial GroupCincinnati mutual holding company group whose brands include Western & Southern Life, Gerber Life, Columbus Life, Lafayette Life and Integrity Life. | Mutual life insurers | 1.19% | A+ (Superior) |
| 31 | TruStageThe credit union movement's insurer, formerly CUNA Mutual Group: no-exam term and whole life sold direct to credit union members, plus funeral preneed coverage. | Mutual life insurers | 0.75% | A (Excellent) |
| 34 | OneAmerica FinancialIndianapolis mutual holding company group (American United Life, State Life) known for Asset Care hybrid whole life with long-term care benefits. | Mutual life insurers | 0.66% | A+ (Superior) |
| 35 | AmeritasLincoln, Nebraska mutual holding company selling term, participating whole life, universal and variable life through advisors, plus dental and disability. | Mutual life insurers | 0.61% | A (Excellent) |
| 65 | Security Mutual Life of New YorkBinghamton, New York mutual founded in 1886, selling participating whole life, term, worksite life and annuities through independent agents nationwide. | Mutual life insurers | 0.24% | A- (Excellent) |
| 66 | SBLIA Massachusetts mutual founded in 1907 under a law conceived by Louis Brandeis, known for low-cost term life sold online, by phone and through brokers. | Mutual life insurers | 0.22% | A (Excellent) |
| 78 | Pan-American LifeNew Orleans mutual holding company insurer, founded in 1911, selling participating whole life, term and IUL in the U.S. through Mutual Trust Life Solutions. | Mutual life insurers | 0.16% | A (Excellent) |
| 99 | AssurityLincoln, Nebraska mutual holding company and Certified B Corp selling term, whole and universal life plus disability cover through independent agents. | Mutual life insurers | 0.07% | A- (Excellent) |
Ranked by 2024 U.S. individual life insurance direct premiums written (states and U.S. territories), from the NAIC 2024 Life/Fraternal Market Share Report. NAIC groups combine affiliated companies, so a group may sell under several brand names.