Largest Life Insurance Companies in Texas 2023
Posted in Statistics last updated on March 12, 2023
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Largest Life Insurance Companies in Texas 2023
Below is a table of the largest life insurance companies in Texas 2023 by premiums market share.
| Rank | Company | Premium |
|---|---|---|
| 1 | Northwestern Mutual Life Insurance Company | $810,109,933 |
| 2 | Metropolitan Life Insurance Company | $763,974,760 |
| 3 | New York Life Insurance Company | $685,832,126 |
| 4 | Lincoln National Life Insurance Company | $631,821,858 |
| 5 | Massachusetts Mutual Life Insurance Company | $525,388,582 |
| 6 | State Farm Life Insurance Company | $471,800,843 |
| 7 | Pacific Life Insurance Company | $468,267,357 |
| 8 | Transamerica Life Insurance Company | $382,157,191 |
| 9. | Pruco Life Insurance Company | $361,785,420 |
| 10 | Minnesota Life Insurance Company | $354,288,534 |
| 11 | American General Life Insurance Company | $324,538,053 |
| 12 | Prudential Insurance Company of America | $289,743,903 |
| 13 | John Hancock Life Insurance Company (U.S.A.) | $282,394,731 |
| 14 | United of Omaha Life Insurance Company | $244,678,557 |
| 15 | Primerica Life Insurance Company | $242,385,216 |
| 16. | Life Insurance Company of The Southwest | $217,439,107 |
| 17. | Guardian Life Insurance Company of America | $217,158,492 |
| 18 | Farmers New World Life Insurance Company | $210,849,503 |
| 19 | American National Insurance Company | $204,690,558 |
| 20. | Southern Farm Bureau Life Insurance Company | $191,333,569 |
| 21. | Nationwide Life and Annuity Insurance Company | $190,158,815 |
| 22. | Unum Life Insurance Company of America | $189,255,457 |
| 23. | New York Life Insurance and Annuity Corporation | $182,992,866 |
| 24. | Midland National Life Insurance Company | $174,320,533 |
| 25. | Protective Life Insurance Company | $173,503,775 |
| 26. | Dearborn Life Insurance Company | $160,476,045 |
| 27. | USAA Life Insurance Company | $148,624,642 |
| 28. | Life Insurance Company of North America | $146,439,314 |
| 29. | Allianz Life Insurance Company of North America | $144,721,668 |
| 30. | Hartford Life and Accident Insurance Company | $137,878,497 |
| 31. | Brighthouse Life Insurance Company | $135,177,475 |
| 32. | American Memorial Life Insurance Company | $123,671,518 |
| 33. | Equitable Financial Life Insurance Company | $117,077,647 |
| 34. | Reliastar Life Insurance Company | $108,746,205 |
| 35. | CMFG Life Insurance Company | $102,061,858 |
| 36. | Securian Life Insurance Company | $97,080,488 |
| 37. | The Penn Mutual Life Insurance Company | $96,862,318 |
| 38. | Globe Life and Accident Insurance Company | $96,409,180 |
| 39. | Riversource Life Insurance Company | $94,277,050 |
| 40. | Lincoln Benefit Life Company | $94,130,768 |
Source: Texas DOI Top life companies based on written premiums and market share 2021
Texas Life Insurance Fact– Each day, life insurers pay out $97 million in life insurance and annuities to Texas families and businesses.
Source: ACLI Fact sheet 2022
What to Look for When Choosing A Life Insurance Company in Texas
- Price– Life insurance is on of the few products can you purchase based on the lowest price. This is because life insurance is on of most regulated industries in America. As long as choose an insurer that is in the Excellent or Superior category from A.M. Best, then you can have the peace of mind the policy will be there to pay out any valid claims in the future.
- Financial Rating– Always look at a life insurance companies A.M. Best rating and only choose one with that is in Excellent or Superior category.
- Underwriting– Each life insurance has their own underwriting guidelines. age, height and weight, cholesterol readings, blood pressure readings (systolic and diastolic), family history, travel, hobbies (such as scuba diving) and many other factors. Make sure you are receiving the best rate for your health and lifestyle by comparing rates from multiple carriers.
Texas Life Insurance Company Ratings 2023
While it’s important to choose a life insurance company that is large and has sizable market share, it’s also important to look at the life insurers financial ratings. More specifically, to look at the ratings from the preeminent rating agency A.M. Best. A great rule of this is to choose an insurer with an ‘Excellent’ or ‘Superior’ rating. Complete list of the life insurance ratings 2023.
Texas Life Insurance Company Rates 2023
Which life insurance companies will have has the lowest rates for residents in Texas 2023? Use our instant quote engine to compare rates instantly from the largest carriers for any coverage amount and policy length. Prices are in order from least to most.
Need More Information?
Take a look at the Life Insurance Guide from the Texas Department of Insurance (TDI).
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