Chelsey Tucker graduated with a Bachelor of History degree from Metropolitan State University in 2019. She now writes about insurance with her specialty being life insurance and has been quoted on Help Smart Phone and MEL Magazine.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com.

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent Daniel Walker

UPDATED: Jan 28, 2022

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The Lowdown

  • The best life insurance companies to work for can vary by state, due to product eligibility and salary
  • MassMutual, New York Life, and Principal Financial tend to have the highest ratings from employees and customers
  • The top life insurance market share contributors aren’t always the best life insurance companies to work for

If you’re working on — or have recently earned — your life insurance agent license, you might be wondering about the best life insurance companies to work for. After all of your hard work, you don’t want to wind up employed by a company that won’t treat you well.

There are many different life insurance companies to choose from and not all of them hire agents the same way. We’ll highlight the best life insurance companies to work for based on various employee ratings and reviews.

Keep reading to learn more about the best life insurance companies to work for, or enter your ZIP code above to access a list of free quotes from the top life insurance companies in your area.

What are the best life insurance companies to work for?

Becoming a life insurance agent can be a rewarding career that is quite lucrative in some states. Depending on where you live, and according to ZipRecruiter, you can expect to make somewhere between $30 to $40 an hour in most cases. Of course, you can expect to earn more if you live near an expensive citiy than if you reside in a rural area.

For those looking to sell life insurance, you might consider the general notion that volume is king, meaning the more you sell, the more you make. This can be true to an extent, but you still want to consider the workplace environment and the respective commissions you can earn with each company.

As of now, these are the top life insurance companies according to market share:

  • MetLife, Inc.
  • Equitable Holdings, Inc. (AXA Equitable)
  • Prudential
  • New York Life
  • MassMutual
  • Principal
  • Lincoln National
  • Western and Southern Financial Group (includes Gerber)
  • Transamerica
  • AIG

If you only aim to sell life insurance, these companies have a strong following from which you could benefit. This depends on whether or not you want to work exclusively for one company or if you prefer to operate as an independent agent who sells a variety of life insurance products from different companies.

What are the best life insurance employer ratings?

One of the most important things to do before you select an employer is to be sure that you’ll enjoy where you’re working. Nobody likes to waste time working for a company with which they’re miserable. For starters, we’ll analyze the employer ratings for the companies listed above.

Ratings for the Best Life Insurance Companies to Work For
CompanyGlassDoorIndeedBest QualityWorst Quality
MetLife3.83.8Work-life balanceManagement rigidity
AXA Equitable3.83.3Work-life balanceMergers (layoffs)
Prudential3.93.9BenefitsWork-life balance
New York Life3.83.7TrainingCold calls
MassMutual3.83.7Work-life balanceTurnover
Principal43.9Work-life balanceLeaders
Lincoln National3.63.6BenefitsWork-life balance
Western and Southern33.3BenefitsIncome
Transamerica3.13.5Work-life balanceManagement
AIG3.63.7BenefitsManagement continuity
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As you can see, the table above reveals how the largest companies compare for employees. Your experience can be largely dependent on the company you work for and what you prioritize from your employer. As is evident, some life insurance companies emphasize benefits while others focus on work-life balance.

The best life insurance companies to work for as an agent can vary based on many factors. The best life insurance companies to work for part-time will most likely have a strong work-life balance, while that might not be as important for full-time agents.

Again, working directly for a life insurance company as a captive agent means that your income, benefits, and work-life balance will all be dependent on that company. If you decide to work as an independent agent, you’ll have more flexibility with those variables. However, you may not achieve a following as easily without being represented by a big brand.

Which life insurance companies are the best to buy from?

While finances and the workplace environment are clearly important to consider, many people want to know that they’re selling a respectable product that others can trust. Financial stability is great, unless you begin feeling guilty for selling overpriced products that nobody can actually use.

Despite having a large market share, many of the companies listed above aren’t rated well for customer satisfaction, according to J.D. Power. The best life insurance companies for customer satisfaction include the following:

  1. State Farm
  2. Nationwide
  3. Northwestern Mutual
  4. Pacific Life
  5. Mutual of Omaha
  6. Globe Life
  7. MassMutual*
  8. John Hancock
  9. New York Life*
  10. Principal Financial*

Of these companies, only three are within the top 10 by market share. MassMutual, New York Life, and Principal were actually highly rated for employee satisfaction as well. However, MassMutual and New York Life weren’t rated quite as well as Principal Financial.

If strong morals are important to you, the companies above would have been the best life insurance companies to work for in 2021 and could be moving forward.

More About the Best Life Insurance Companies to Work For

Based on the information above, it might be beneficial to choose one of the three above-referenced companies, if possible. Of course, you’ll still be expected to interview before you get hired by these companies.

Keep in mind that there are other major insurance providers that might be better employers if you decide to obtain a license to sell other forms of insurance, like health insurance. For example, Northwestern Mutual has ratings similar to those of Principal, but it wasn’t among the top life insurance companies.

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Additionally, you won’t be able to work for every life insurance company in every state. For example, per the company website, Principal Financial only offers life insurance products in approximately 27 states. You’ll want to ensure that you select a company with a strong network in your region, particularly if you live near a state border.

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The Best Life Insurance Companies to Work For: The Bottom Line

There are many life insurance companies to choose from as a prospective employee. It’s important to consider your values and match them with a reputable life insurance company that sells products in your area. Supporting your moral beliefs could help you remain with a company long-term.

We hope you enjoyed learning about the best life insurance companies to work for. Before you go, enter your ZIP code to obtain free quotes from the top life insurance companies in your area.