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Who Has the Most Life Insurance Policy Holders in the US?

What you should know about Life Insurance Ratings and In-force Ratings

Click on any search engine, and search, “What insurance company is the largest?” Ads and articles display life insurance companies ranked according to the size of the company, usually rated by how many premiums are sold in a quarter or a year.1

It’s important to understand what these ratings really mean and how to interpret them.

Beside the size of a company, other factors should also be considered when searching for the right insurance company and plan for you and your beneficiaries.

In this article, you will learn the difference between insurance providers who sell the most policies versus in-force policies sold. You will learn how independent sources rank an insurance company. Below are several important factors to consider.

  1. Life Insurance Ratings: How NAIC, S & P Global, and A.M. Best rank.
  2. What is the history of a life insurance company?
  3. How is the customer service? How are claims processed?
  4. What type of insurance products does the company sell?
  5. Does the life insurance company offer products appropriate for your budget or earning power?

Independent Resources for Insurance Ratings

Insurance ratings are usually cited by how many premiums the company has sold. In other words, how many insurance policies were sold, and the dollar amount of the insurance sold (the premium) during a specific period.

An in-force rating means an insurance policy is active. The premiums are being paid, or are fully paid, and the insurance company is providing coverage to the policyholder.

An in-force rating may indicate other factors that are important. First, it demonstrates the longevity of a policy, which means policyholders are keeping and maintaining their insurance policy. Other factors for in-force ratings may include satisfied customers who have chosen the appropriate type of policy and costs that work for their budget.

The National Association of Insurance Commissioners (NAIC) annually reports the top 25 insurance companies, according to countrywide premiums sold as life insurance plans. These are the policies sold, plus the collective dollar amount of premiums and annuities sold, in a specific time period (12 months).

S & P Global Ratings, an American credit rating agency, reports the in-force insurance policies. This company provides high-quality, objective, independent, and rigorous analytical information to the marketplace. Sources cited require membership, but can be found online. The S & P Global rating is a forward-looking view derived from dependable data on the growth of the company.3

Globe Life is one of the 20 largest life insurance companies in the United States based on market share for individual policies.

A.M. Best Company is a trusted and independent rating service that looks at the insurance company’s financial stability and rates accordingly.

A.M. Best assesses the creditworthiness of and reports on more than 16,000 insurance companies worldwide.

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A.M. Best Company, an independent insurance analyst since 1899, awarded Globe Life an A (Excellent) rating (as of 8/22) based on its latest analysis of financial strength, management skills, and integrity. 2

The ratings reflect Globe Life’s balance sheet strength, which A.M. Best assesses as strong, as well as its very strong operating performance, favorable business profile, and appropriate enterprise risk management (ERM).

Compared with other widely-known life insurance companies, Globe Life consistently ranks first in the number of In-Force policies year-over-year (see graph below). This ranking is found on S & P Global (2021).

Total Policy Count In Force

Globe Life Inc.
2021 15,178K
2020 13,967K
2019 12,569K
State Farm
Prudential Financial Inc.
Northwestern Mutual
Met Life
New York Life

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How Long Has the Company Been in Business?

The age of a company is an important factor to consider. A company that has significant longevity generally demonstrates stability. You want a company whose financial stability is healthy. Visit the insurance company’s website for information about how the insurance company was formed and its history.

Check out an insurance company’s annual reports. The financial annual report is usually found on the company’s website, or you can call and request one. What is their year-over-year growth? Typically, you can view past annual reports and see if they are growing or if they are financially stable (see chart above for Globe Life reference).

Several new insurance companies have sprung up on the internet and media in recent years. Be careful and perform your due diligence regarding new insurance companies. Seek out an independent licensed insurance agent or broker and get their insight. Find out all you can about the company. There are insurance scams you want to avoid.  Protect yourself and your money. You may have a tough time or wait a long time to recoup any paid premiums.

Since our roots began in 1900, Globe Life has been committed to empowering our customers by offering products to help secure their financial future, allowing them to face the unexpected from a position of strength.

How is the Customer Service? Are Claims Paid?

Don’t forget customer service. What good is an insurance policy if you don’t understand it, or a beneficiary needs guidance and assistance when the time comes to claim the insurance benefit?

Ask a licensed insurance agent or broker information on submitting a claim and how the benefit is paid. Understand the process, and with the help of your insurance agent if needed, be able to explain to your beneficiaries the process of securing the insurance benefit.

Personalized service is important to Globe Life where our agents give you one-on-one customer service.

What type of insurance products does the company sell?

You may be looking for more than a life insurance plan. Or perhaps you aren’t sure if you want a whole life or term life plan. Looking at the diversity of products an insurance company sells may be helpful in giving you options and having a one-stop insurance company and agent to work with.

With over $92.5 billion of insurance in force, Globe Life is committed to providing secure life and supplemental health insurance protection to our policyholders today and in the future. You can be assured Globe Life will be there when you need us the most.

What are the premiums (rates) for your budget or earning power?

An insurance premium is the amount of money an individual or business pays for an insurance policy. What your current earning power or budget is determines the type of coverage you can purchase. Choosing an insurance company who specializes in a price range you can afford can make a difference in your options.

With this information, you are now ready to make informed decisions for your future beneficiaries. Call a licensed insurance agent today.


  1. Life Insurance Biggest Companies, Nerdwallet.com
  2. AM Best Ratings
  3. S & P Global
  4. Globe Life Reviews
  5. About Globe Life

Other sources:


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