Life Insurance Company Ratings 2023

Are you looking for a complete resource to see all the life insurance company ratings 2023? Then you have come to the right place. When looking to purchase a life insurance policy it’s imperative to check the financial rating before moving forward with an insurer. Knowing the financial rating will provide the knowledge and peace of mind the insurance company is financially sound and will be able to payout a potential future claim.

What Is A Life Insurance Company Rating?

A life insurance company rating is the financial rating (grade) provided from an independent rating agency. The rating is the agency’s opinion of an insurer’s financial strength and ability to meet its ongoing insurance policy and contract obligations. There are four main rating agencies; A.M. Best, S&P, Moody’s and Fitch. A.M. Best is considered the industry standard.

Life Insurance Company Ratings 2023 Chart

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Company	A.M. Best	S&P	Moody’s	Fitch	Comdex Rating
Northwerstern Mutual Life Insurance Company	A++	AA+	Aaa	AAA	100
New York Life Insurance Company	A++	AA+	Aaa	Aaa	100
Thrivent Financial for Lutherans	A++	A++			100
Guardian Life Insurance Company	A++	A++	Aa1		99
TIAA-CREF Life Insurance Company	A++	AA+	Aa1	AAA	99
USAA Life Insurance Company	A++	AA+	Aa1		99
MassMutual Life Insurance Company	A++	AA+	Aa3	AA+	98
State Farm Life Insurance Company	A++	AA	Aa1		98
Knights of Columbus	A+	AA+			98
C.M. Life Insurance Company	A++	AA+	Aa3	AA+	98
MML Bay State Life Insurance Company	A++	AA+	Aa3	AA+	98
Allianz Life Insurance Company of NY	A+	AA	Aa1		97
Sun Life & Health Insurance Company	A+	AA			97
Great-West Life & Annuity	A+	AA	Aa3	AA	96
Minnesota Life Insurance Company	A+	AA-	Aa3	AA	96
American United Life Insurance Company	A+	AA-			95
State Life Insurance Company	A+	AA-			95
Western & Southern Life Insurance Company	A+	AA-	Aa3	AA	96
Integrity Life Insurance Company	A+	AA-	Aa3		96
Lafayette Life Insurance Company	A+	AA-	AA		96
Columbus Life Insurance Company	A+	AA-	Aa3	AA	96
Securian Life Insurance Company	A+	AA-	Aa3	AA	96
National Integrity Life Ins Company of NY	A+	AA-	Aa3	AA	96
MetLife Insurance Company	A+	AA-	Aa3	AA-	95
Prudential Life Insurance Company of America	A+	AA-	Aa3	AA-	95
Pruco Life Insurance Company	A+	AA-	Aa3	AA-	95
Pruco Life Insurance Company of NJ	A+	AA-		AA-	94
Pacific Life Insurance Company	A+	AA-		AA-	95
Pacific Life & Annuity Company	A+	AA-	Aa3	AA-	95
Pacific Life & Annuity Company
Protective Life Insurance Company	A+	AA-	A1	AA-	93
Banner Life Insurance Company	A+	AA-		AA-	94
Allianz Life Insurance Company of NA	A+	AA-		AA-	94
William Penn Life Insurance Company of NY	A+	AA-		AA-	94
John Hancock Life Insurance Company (USA)	A+	AA-	A1	AA-	93
John Hancock Life Insurance Company of NY	A	AA-	A1	AA-	93
Penn Mutual Life Insurance Company	A+	A+	Aa3	AA-	93
Primerica Life Insurance Company	A+	AA-	A1		93
Protective Life Insurance Company	A+	AA-	A1	A+	93
West Coast Life Insurance Company	A+	AA-	A1	AA-	93
RiverSource Life Insurance Company	A+	A+	Aa3		93
Great American Life Insurance Company	A+	A+	Aa3		92
Fidelity Investments Life Insurance Company	A+	A+			91
Empire Fidelity Investments Life	A+	A+			91
American Life Insurance Company	NR	AA-	A1		91
Vantis Life Insurance Company	A+	A	Aa3		91
Penn Insurance & Annuity Co of NY	A+	A	Aa3	AA-	91
Life Insurance Company of the Southwest	A+	A+	A1		90
Hartford Life & Accident Insurance	A+	A+	A1		90
National Life Insurance Company	A+	A+	A1		90
Principal Life Insurance Company	A+	A+	A1	AA-	91
Nationwide Life Insurance Company	A+	A+	A1		90
United of Omaha Life Insurance Company	A+	A+	A1		90
Principal National Life Insurance Company	A+	A+	A1		90
MONY Life Insurance Company	A+	A+	A1	AA-	91
Midland National Life Insurance Company	A+	A+		A+	89
North American Company Life & Health	A+	A+		A+	89
Cincinnati Life Insurance Company	A+	A+		A+	89
Reliance Standard Life Insurance Company	A++	A+	A1		91
Texas Life Insurance Company	A+			A	87
Liberty National Life Insurance Company	A	AA-	A1	A+	84
Globe Life & Accident Insurance Company	A	AA-		A+	83
American Income Life Insurance Company (AIL)	A	AA-		A+	83
United American Insurance Company	A	AA-		A+	83
Lincoln National Life Insurance Comp	A	A+	A1	A+	82
Zurich American Life Insurance Company	A+	A			87
Transamerica Life Insurance Company	A	A+	A1		81
Equitable Financial Life of America	A	A+	A1		82
Standard Insurance Company	A	A+	A1		81
Modern Woodmen of America	A				82
American General Life Insurance Company	A	A+	A2	A+	80
United State Life Insurance Company of NY	A	A+	A2	A+	80
Symetra Life Insurance Company	A	A	A1		79
CMFG Life Insurance Company	A	A+	A2		79
ReliaStar Life Insurance Company	A	A+	A2	A	79
ReliaStar Life Insurance Company NY	A	A+	A2	A	79
Equitable Financial Life of America	A	A+	A2		79
Ameritas Life Insurance Corporation	A	A+			79
Ameritas Life Insurance Corporation of NY	A	A+			79
Dearborn National Life Insurance Company	A	A+			79
Dearborn National Life Insurance Co of NY	A	A+			79
Brighthouse Life Insurance Company of NY	A	A+			79
Ameritas Life Insurance Corporation of NY	A	A+			79
American Family Life Insurance Company(WI)	A			A+	78
Jackson National Life Insurance Company	A	A	A2	A	76
Jackson National Life Insurance Company of NY	A	A	A2	A	76
Brighthouse Life Insurance Company	A	A+	A3	A	77
Horace Mann Life Insurance Company	A	A	A2	A	76
Cigna Health & Life Insurance Company	A	A	A2		76
American National Insurance Company	A	A		A	76
Mutual Trust Life Insurance Company	A			A	75
Pan-American Life Insurance Company	A			A	75
Accordia Life & Annuity Company	A	A-	A2	A	75
Blue Shield of CA Life & Health	A			A	75
Forethought Life Insurance Company	A	A-	A2	A	75
Aetna Life Insurance Company	A	A-	A2		74
Pacific Guardian Life Insurance Company	A	A			74
Unum Life Insurance Company of America	A	A	A3	A-	73
First Unum Life Insurance Company	A	A	A3	A-	73
Colonial Life & Accident Insurance	A	A	A3	A-	73
First Allmerica Financial Life	A	A-	Aa	A	75
Paul Revere Life Insurance Company	A	A	A3	A-	73
Provident Life & Accident	A	A	A3	A-	73
Provident Life & Casualty	A			A-	72
Americo Financial Life & Annuity	A		A3		71
National Western Life Insurance Company	A	A-			72
Savings Bank Mutual Life Insurance (SBLI)	A	A-			72
Bankers Life & Casualty Company	A	A-	A3	A-	71
Aetna Health & Life Insurance Company	A	A-			71
USAble Life	A	A-		A-	71
Washington National Insurance Company	A	A-	A3	A-	71
Colonial Penn Life Insurance Company	A	A-	A3	A-	71
Ohio National Life Insurance Company (Constellation Insurance)	A		Baa1	A-	70
Security Life of Denver Insurance Company	NR		Baa1	A-	69
Health Net Life Insurance Company	NR	A-	Baa1	A-	69
United Insurance Company of America	A-	A-	A3	A-	61
Fidelity & Guaranty Life Insurance Company	A-	A-	Baa1	A-	60
SBLI USA Life Insurance Company	A-				59
Shenandoah Life Insurance Company	A-				59
Security Benefit Life Insurance Company	A-	A-			58
Gleaner Life Insurance Society	A-				58
United Heritage Life Insurance Company	A-				59
Bankers Conseco Life Insurance Company NY	A-	A-		A-	58
Union National Life Insurance Company	A-	A-		A-	58
Bankers Life of Louisiana	A-				58
Southern Financial Life Insurance Co	A-				58
Lincoln Benefit Life Co	A-				58
Humana Insurance Company of KY	A-	A			54
ShelterPoint Life Insurance Company	A-	A-			51
Union Security Insurance Company	B++	BBB+	Baa1		49
Baltimore Life Insurance Company	B++				48
Catholic Order of Foresters	B++				48
Talcott Resolution Life Insurance Company	B++	BBB	Baa3		47
EquiTrust Life Insurance Company	B++	BBB+			39
Investors Heritage Life Insurance Company	B++			BBB-	39
ELCO Mutual Life & Annuity	B+				35
Genworth Life Insurance Company	C++		Caa1		32
Genworth Life & Annuity Insurance Company	B-		B3		32
Genworth Life Insurance Company of New York	C++		Caa1		32
Southern Farm Bureau Life Insurance Company	A+
Companion Life Insurance Company	A+
Equitable Financial Life & Annuity	A+
American Heritage Life Insurance Company	A+
Woodmen of the World Life	A+
Sentry Life Insurance Company	A+
Jefferson National Life Insurance Company	A+
COUNTRY Life Insurance Company	A+
Auto-Owners Life Insurance Company	A+
Combined Insurance Company of America (Chubb)	A+
Tennessee Farmers Life Insurance Company	A+
Federated Life Insurance Company	A+
Amica Life Insurance Company	A+
Freedom Life Insurance Co America	A+
National Foundation Life Insurance	A+
Farm Bureau Life Insurance Company	A
Farmers New World Life Insurance Company	A
Gerber Life Insurance Company NY	A
National Guardian Life Insurance Company	A
Independent Rrder of Foresters	A
Erie Family Life Insurance Company	A
Oxford Life Insurance Company	A
Farm Bureau Life Insurance Co of Michigan	A
Physicians Mutual Insurance Company	A
Physicians Life Insurance Company	A
Boston Mutual Life Insurance Company	A
Alfa Life Insurance Corporation	A
Automobile Club Southern CA Life (AAA)	A
Shelter Life Insurance Company	A
Great Western Insurance Company	A
American Republic Insurance Company	A
Royal Neighbors of America	A
Fidelity Security Life Insurance Company	A
Auto Club Life Insurance Company (AAA)	A
Anthem Life Insurance Company	A
AAA Life Insurance Company	A
National Teachers Association Life Ins (NTA Life)	A
Standard Life & Accident Insurance	A
American-Amicable Life Insurance Co of TX	A
Globe Life Ins Co of New York	A
Great Southern Life Insurance Company	A
Cincinnati Equitable Life Insurance	A
Lumio Life Insurance Company	A
Garden State Life Insurance Company	A
Starmount Life Insurance Company	A
Greater Georgia Life Ins Co	A
Advance Ins Co of Kansas	A
Christian Fidelity Life Ins Co	A
Anthem Life & Disability Ins Co	A
Patriot Life Insurance Company	A
AAA Life Insurance Company of NY	A
Leaders Life Insurance Company	A
Lumico Life Ins Company	A
Union Labor Life Insurance Company	A-
Kansas City Life Insurance Company	A-
GBU Financial Life	A-
Homesteaders Life Company	A-
Encova Life Insurance Company	A-
Assurity Life Insurance Company	A-
Sagicor Life Insurance Company	A-
United Life Insurance Company	A-
Liberty Bankers Life Insurance Company	A-
Trustmark Insurance Company	A-
Funeral Directors Life Insurance Company	A-
Illinois Mutual Life Insurance Company	A-
Catholic Life Insurance	A-
Lincoln Heritage Life Insurance Company	A-
First Catholic Slovak Ladies (FCSLA Life)	A-
EMC National Life Company	A-
Government Personnel Mutual (GPM Life)	A-
Ozark National Life Ins Company	A-
Guarantee Trust Life Insurance Company	A-
Farm Bureau Life Insurance Co of Missouri	A-
Fidelity Life Association	A-
Nippon Life Insurance Co of America	A-
American Benefit Life Insurance Company	A-
Madison National Life Insurance Company	A-
Bankers Fidelity Life Insurance Company	A-
GPM Health & Life Insurance Company	A-
United Home Life Insurance Company	A-
Kentucky Funeral Directors Life	A-
ShelterPoint Life Insurance Company	A-
Assurity Life Ins Co of NY	A-
SWBC Life Insurance Company	A-
Germania Life Insurance Company	A-
American Health & Life Insurance	B++
Atlantic Coast Life Insurance Company	B++
Family Life Insurance Company	B++
Sentinel Security Life Insurance Company	B++
Grange Life Insurance Company	B++
American Fidelity Life Insurance Company	B++
Old American Insurance Company	B++
Puritan Life Ins Co of America	B++
Manhattan National Life Insurance Co	B++
LifeShield National Insurance Company	B++
Gulf Guaranty Life Insurance Company	B++
Town & Country Life Insurance Company	B+
Mountain Life Insurance Company	B
Columbian Life Insurance Company	C++

The life insurance companies without a Comdex score didn’t receive enough ratings other than from A.M. Best to calculate a score. Since A.M. Best is the gold standard rating agency, many top companies only seek their rating.

Why Are Life Insurance Company Ratings Important?

Choosing a life insurance company with a high rating will help ensure the company is financially strong and will have the ability to payout a claim in the future.

How To Read Life Insurance Company Ratings

As seen in the chart above, there are four main rating agencies when it comes to life insurance. The most commonly used and prominent is A.M. Best. This is because A.M. Best is the only global credit rating agency solely dedicated to the insurance industry. There is also S&P, Moody’s and Fitch. Another metric to check is the Comdex Score. Below are the rating tables and definitions to help you quickly evaluate the financial strength of a life insurance company.

A.M. Best

Secure	Vulnerable
A++, A+ (Superior)	B, B- (Fair)
A, A- (Excellent)	C++, C+ (Marginal)
B++, B+ (Good)	C, C- (Weak)
	D (Poor)
	E (Under Regulatory Supervision)
	F (In Liquidation)
	S (Suspended)

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Fitch Ratings

AAA: Highest credit quality– ‘AAA’ ratings denote the lowest expectation of default risk. They are assigned only in cases of exceptionally strong capacity for payment of financial commitments. This capacity is highly unlikely to be adversely affected by foreseeable events.

AA: Very high credit quality– ‘AA’ ratings denote expectations of very low default risk. They indicate very strong capacity for payment of financial commitments. This capacity is not significantly vulnerable to foreseeable events.

A: High credit quality– ‘A’ ratings denote expectations of low default risk. The capacity for payment of financial commitments is considered strong. This capacity may, nevertheless, be more vulnerable to adverse business or economic conditions than is the case for higher ratings.

BBB: Good credit quality– BBB’ ratings indicate that expectations of default risk are currently low. The capacity for payment of financial commitments is considered adequate but adverse business or economic conditions are more likely to impair this capacity.

BB: Speculative– ‘BB’ ratings indicate an elevated vulnerability to default risk, particularly in the event of adverse changes in business or economic conditions over time; however, business or financial flexibility exists which supports the servicing of financial commitments.

B: Highly speculative– ‘B’ ratings indicate that material default risk is present, but a limited margin of safety remains. Financial commitments are currently being met; however, capacity for continued payment is vulnerable to deterioration in the business and economic environment.

CCC: Substantial credit risk– Default is a real possibility.

CC: Very high levels of credit risk– Default of some kind appears probable.

C: Exceptionally high levels of credit risk– Default is imminent or inevitable, or the issuer is in standstill. Conditions that are indicative of a ‘C’ category rating for an issuer include:

a. the issuer has entered into a grace or cure period following non-payment of a material financial obligation;
b. the issuer has entered into a temporary negotiated waiver or standstill agreement following a payment default on a material financial obligation; or
c. Fitch Ratings otherwise believes a condition of ‘RD’ or ‘D’ to be imminent or inevitable, including through the formal announcement of a distressed debt exchange.

RD: Restricted default– RD’ ratings indicate an issuer that in Fitch Ratings’ opinion has experienced an uncured payment default on a bond, loan or other material financial obligation but which has not entered into bankruptcy filings, administration, receivership, liquidation or other formal winding-up procedure, and which has not otherwise ceased operating. This would include:

a. the selective payment default on a specific class or currency of debt;
b. the uncured expiry of any applicable grace period, cure period or default forbearance period following a payment default on a bank loan, capital markets security or other material financial obligation;
c. the extension of multiple waivers or forbearance periods upon a payment default on one or more material financial obligations, either in series or in parallel; or
d. execution of a distressed debt exchange on one or more material financial obligations.

D: Default– ‘D’ ratings indicate an issuer that in Fitch Ratings’ opinion has entered into bankruptcy filings, administration, receivership, liquidation or other formal winding-up procedure, or which has otherwise ceased business.

Moody’s Investors Service

»Aaa– highest rating, representing minimum credit risk

»Aa1, Aa2, Aa3– high-grade

»A1, A2, A3– upper-medium grade

»Baa1, Baa2

Standard & Poor’s (S&P)

AAA	An obligation rated ‘AAA’ has the highest rating assigned by Standard & Poor’s. The obligor’s capacity to meet its financial commitment on the obligation is extremely strong.
AA	An obligation rated ‘AA’ differs from the highest-rated obligations only to a small degree. The obligor’s capacity to meet its financial commitment on the obligation is very strong.
A	An obligation rated ‘A’ is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligations in higher-rated categories. However, the obligor’s capacity to meet its financial commitment on the obligation is still strong.
BBB	An obligation rated ‘BBB’ exhibits adequate protection parameters. However, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity of the obligor to meet its financial commitment on the obligation.
BB; B; CCC; CC; and C	Obligations rated ‘BB’, ‘B’, ‘CCC’, ‘CC’, and ‘C’ are regarded as having significant speculative characteristics. ‘BB’ indicates the least degree of speculation and ‘C’ the highest. While such obligations will likely have some quality and protective characteristics, these may be outweighed by large uncertainties or major exposures to adverse conditions.
BB	An obligation rated ‘BB’ is less vulnerable to nonpayment than other speculative issues. However, it faces major ongoing uncertainties or exposure to adverse business, financial, or economic conditions which could lead to the obligor’s inadequate capacity to meet its financial commitment on the obligation.
B	An obligation rated ‘B’ is more vulnerable to nonpayment than obligations rated ‘BB’, but the obligor currently has the capacity to meet its financial commitment on the obligation. Adverse business, financial, or economic conditions will likely impair the obligor’s capacity or willingness to meet its financial commitment on the obligation.
CCC	An obligation rated ‘CCC’ is currently vulnerable to nonpayment, and is dependent upon favorable business, financial, and economic conditions for the obligor to meet its financial commitment on the obligation. In the event of adverse business, financial, or economic conditions, the obligor is not likely to have the capacity to meet its financial commitment on the obligation.
CC	An obligation rated ‘CC’ is currently highly vulnerable to nonpayment. The ‘CC’ rating is used when a default has not yet occurred, but Standard & Poor’s expects default to be a virtual certainty, regardless of the anticipated time to default.
C	An obligation rated ‘C’ is currently highly vulnerable to nonpayment,and the obligation is expected to have lower relative seniority or lower ultimate recovery compared to obligations that are rated higher.
D	An obligation rated ‘D’ is in default or in breach of an imputed promise. For non-hybrid capital instruments, the ‘D’ rating category is used when payments on an obligation are not made on the date due, unless Standard & Poor’s believes that such payments will be made within five business days in the absence of a stated grace period or within the earlier of the stated grace period or 30 calendar days. The ‘D’ rating also will be used upon the filing of a bankruptcy petition or the taking of similar action and where default on an obligation is a virtual certainty, for example due to automatic stay provisions. An obligation’s rating is lowered to ‘D’ if it is subject to a distressed exchange offer.
NR	This indicates that no rating has been requested, or that there is insufficient information on which to base a rating, or that Standard & Poor’s does not rate a particular obligation as a matter of policy.

Comdex Score

Comdex Ranking

The Comdex score is the average ranking a company receives from the four major rating agencies in America. The Comdex score is not a rating itself, but rather an unbiased number that can be used to quickly and easily compare the ratings a company has received from the top rating agency.

How to Read It?

Rather than using letters, Comdex uses numbers on a scale of 1 to 100, with 100 being the best possible score and 1 being the lowest score. The Comdex ranking is objective and based exclusively on the calculated ratings from the four major rating agencies.

Insurance Rating Services Used in Calculation

Comdex is determined on the evaluations from the following rating services:

AM Best
Standard & Poor’s
Moody’s Investors Services
Fitch

A company must receive ratings from at least two of the four major rating agencies in order to receive a Comdex score.

Conclusion

Always look at the life insurance company ratings 2023 before selecting the insurer that will protect your family or business. A good rule of thumb is to always choose a company with an [A] Excellent rating or better from A.M. Best. By following this axiom, you will have the peace of mind that the industry leading rating agency has assessed that the insurance company has an Excellent or Superior ability to meet their ongoing insurance obligations.

*Ratings as of 7/19/2023. Ratings are subject to change

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