In this article, we will look into the 5 best term life insurance companies heading into 2024. If you want to read our detailed analysis, you can go directly to 15 Best Term Life Insurance Companies Heading into 2024.
5. State Farm
Annual Revenue (2022): $89.30 billion
State Farm is ranked 5th among the best term life insurance companies heading into 2024. The company offers a diverse range of products and services including insurance, financial services, life insurance, health insurance, and auto insurance. It offers term, whole, and universal life insurance plans. Instant Answer Term Insurance is a term life insurance product of the company that provides $50,000 in benefits. State Farm reported an annual revenue of $89.30 billion in 2022.
4. Chubb Limited (NYSE:CB)
Market Cap as of December 22: $90.07 billion
Chubb Limited (NYSE:CB) is a top financial services company. The company offers a comprehensive suite of products covering accident and supplemental health insurance, travel insurance, reinsurance, and life insurance. Within its life insurance portfolio, the company offers Chubb Lifetime Elite, LifePlus, Chubb Life Shield, Chubb Critical Illness Shield, Chubb Health Shield, and Chubb Personal Accident Shield among others. The company’s term life insurance plans include WiseChoice Term Life Protector, Chubb Preferred Term Life Insurance Plan, and Multi-Select Term. As of December 22, the company has a market cap of $90.07 billion.
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3. Ping An Insurance (Group) Company of China, Ltd. (OTC:PNGAY)
Market Cap as of December 22: $90.18 billion
Ping An Insurance (Group) Company of China, Ltd. (OTC:PNGAY) is a leading Chinese insurance company. It is ranked 3rd on our list of the best term life insurance companies heading into 2024. The company offers both term and whole life insurance solutions. As of December 22, the group reports a market cap of $90.18 billion.
2. AIA Group Limited (OTC:AAIGF)
Market Cap as of December 22: $97.53 billion
AIA Group Limited (OTC:AAIGF) is a multinational insurance company, headquartered in Hong Kong. The company offers life insurance, retirement planning, accident, health insurance, and wealth management solutions. It offers both individual and group term life insurance solutions. Group Employee Term Life and AD&D Insurance, Group Term Life Insurance, and Key Person Term Life Insurance are the major term life products of the company. As of December 22, the company boasts a market cap of $97.53 billion.
1. Allianz SE (OTC:ALIZF)
Market Cap as of December 22: $104.24 billion
Allianz SE (OTC:ALIZF) ranks 1st on our list of the best term life insurance companies heading into 2024. The company has business in over 70 countries and territories. It provides insurance and financial services to a clientele of more than 100 million people. It provides term life plans through General America and Term Life. Allianz Life Pro+ Advantage and Index Lock are the term life products of the company. As of December 22, the company reports a market cap of $104.24 billion.
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