Universal life insurance shines as a beacon of flexibility and security, offering tailored options to fit your unique financial goals. Whether you seek the cost-effective protection of Guaranteed Universal Life (GUL), the growth potential of Indexed Universal Life (IUL), or the investment opportunities of Variable Universal Life (VUL), choosing the right insurer is key. In this guide, we reveal the top 10 universal life insurance companies for 2025, backed by the latest market data, to help you secure your financial future with confidence.
Table of Contents
- Market Overview: Universal Life Insurance Trends
- Our Criteria for the Best Universal Life Insurance Companies
- Top 10 Universal Life Insurance Companies
- Types of Universal Life Insurance
- Universal Life Insurance Comparison
- Conclusion
Market Overview: Universal Life Insurance Trends
The universal life insurance market in the U.S. is thriving, driven by its flexibility and cash value growth potential. According to LIMRA (limra.com), total new annualized premium for U.S. individual life insurance reached $15.9–$16.2 billion in 2024, with universal life products holding a significant share. Indexed Universal Life (IUL) leads with 23–24% market share ($3.8 billion), followed by Variable Universal Life (VUL) at 14–15% ($2.2–$2.4 billion).
| Product Type | 2024 Market Share | Total New Premium (2024) | Growth Trend |
|---|---|---|---|
| Indexed Universal Life (IUL) | 23–24% | $3.8 billion | Up 4–10% YoY |
| Variable Universal Life (VUL) | 14–15% | $2.2–$2.4 billion | Up 15–27% YoY |
| Guaranteed Universal Life (GUL) | Not broken out | N/A | Fastest projected growth |
| Fixed Universal Life | 7% | $1.1 billion | Up 7–13% YoY |
Industry Highlights
- IUL Growth: IUL policy count rose 10–11% year-over-year, with top sellers like National Life Group and Pacific Life leading in premiums and policies.
- VUL Resurgence: VUL sales grew 15–27%, fueled by strong equity markets and flexible investment options.
- GUL Demand: GUL is projected to grow fastest through 2033, appealing to those seeking affordable, predictable coverage.
- Digital Shift: Insurers are leveraging digital tools to streamline sales and enhance policy customization.
Ready to explore universal life insurance options?
Our expert advisors can help you find the perfect Indexed Universal Life (IUL), Variable Universal Life (VUL), or Guaranteed Universal Life (GUL) policy to match your financial goals. Schedule a free 30-minute consultation to discover tailored solutions for wealth-building and protection—no obligation, just expert guidance.
Our Criteria for the Best Universal Life Insurance Companies
We evaluated the top universal life insurance companies based on five key factors to ensure they meet your financial needs:
- Financial Strength: We prioritize companies with strong ratings from A.M. Best (ambest.com), focusing on A- (excellent) or better for stability.
- Flexibility: Universal life insurance should offer adjustable premiums, policy designs, and rider options to suit diverse needs.
- Policy Options: We look for competitive features like index caps, living benefits, policy loans, and overloan protection.
- Customer Service: A solid reputation, based on NAIC, J.D. Power surveys, and our experience, is essential.
- Non-Captive Company: Non-captive insurers allow agents to shop for the best products, prioritizing consumer interests.
Top 10 Universal Life Insurance Companies for 2025
The best universal life insurance company depends on your goals. Below, we highlight top performers across IUL, VUL, and GUL, based on 2024–2025 market data and our criteria.
Top Indexed Universal Life (IUL) Companies
Pacific Life Insurance Company
AM Best Rating: A+ (Superior)
Key Products: Pacific Indexed Accumulator, Pacific Select VUL
Highlights:
- Top IUL seller with $112.7M in Q1 2024 premiums
- Five indexed product options with competitive performance riders
- Flexible premiums and strong cash value growth
- Non-captive, with above-average customer service
Learn more in our Pacific Life review.
North American Company for Life and Health
AM Best Rating: A+ (Superior)
Key Products: Rapid Builder IUL, Legacy Optimizer IUL
Highlights:
- Robust IUL options for wealth building and legacy planning
- High customer service ratings and non-captive structure
- Competitive policy designs with low premium loads
- Strong focus on IUL, with no whole life offerings
Learn more in our North American Company review.
National Life Group
AM Best Rating: A+ (Superior)
Key Products: Indexed Universal Life
Highlights:
- Top IUL seller with $117.3M in Q1 2024 premiums
- Leads in policy count, emphasizing accessibility
- Flexible premiums and living benefits for critical illness
- Non-captive with strong customer feedback
Learn more in our National Life Group review.
Top Variable Universal Life (VUL) Companies
Prudential Insurance Company of America
AM Best Rating: A+ (Superior)
Key Products: PruLife Index Advantage UL, VUL Protector
Highlights:
- Strong VUL offerings with 50+ investment options
- Entered IUL market in 2012, with proven performance
- Non-captive, with high J.D. Power customer satisfaction
- Flexible designs for wealth transfer and income protection
Learn more in our Prudential review.
John Hancock
AM Best Rating: A+ (Superior)
Key Products: Accumulation VUL
Highlights:
- $69.1M in IUL premiums in Q1 2024, with strong VUL growth
- Innovative wealth-building options and investment portfolios
- Non-captive, with solid customer service
- Optional VUL TargetTrack for allocation planning
Learn more in our John Hancock review.
Top Guaranteed Universal Life (GUL) Companies
Penn Mutual Life Insurance Company
AM Best Rating: A+ (Superior)
Key Products: Guaranteed Choice UL, Accumulation Builder IUL
Highlights:
- Strong GUL offerings for affordable, long-term coverage
- Competitive IUL and whole life products for diversification
- Non-captive, with above-average customer service
- Flexible riders, including living benefits
Learn more in our Penn Mutual review.
Protective Life
AM Best Rating: A+ (Superior)
Key Products: Protective Custom Choice UL
Highlights:
- Leading GUL provider with affordable premiums
- Flexible coverage terms and no-lapse guarantees
- Non-captive, with strong financial stability
- High customer satisfaction for simplicity
Learn more in our Protective Life review.
Types of Universal Life Insurance
Universal life insurance comes in three main types, each catering to different financial goals:
Guaranteed Universal Life (GUL)
A guaranteed universal life insurance policy focuses on cost-effective, long-term protection with minimal cash value growth. It often includes a guaranteed death benefit as long as premiums are paid.
Indexed Universal Life (IUL)
An indexed universal life insurance policy emphasizes cash value growth tied to market indexes like the S&P 500, with downside protection. The death benefit can be fixed or grow with the policy.
Variable Universal Life (VUL)
A variable universal life insurance policy allows cash value investment in subaccounts resembling mutual funds, offering higher risk and reward potential.
Universal Life Insurance Comparison
Compare top companies based on key metrics to find the best fit:
| Company | AM Best Rating | Key UL Products | Strengths |
|---|---|---|---|
| Pacific Life | A+ (Superior) | IUL, VUL, UL | Market leader, diverse options |
| National Life Group | A+ (Superior) | IUL | Top IUL sales, policy count |
| Penn Mutual | A+ (Superior) | GUL, IUL, UL | Affordable GUL, flexibility |
| Prudential | A+ (Superior) | IUL, VUL, UL | Strong VUL, customer service |
Find the Perfect Universal Life Insurance Policy for Your Future
Ready to unlock the flexibility and security of universal life insurance? Our independent advisory team will provide a personalized analysis to help you choose the best Indexed Universal Life (IUL), Variable Universal Life (VUL), or Guaranteed Universal Life (GUL) policy for your financial goals.
- ✓ Get a tailored comparison of top universal life insurance policies based on your needs
- ✓ Explore how IUL, VUL, or GUL can support wealth-building and protection
- ✓ Understand tax advantages, cash value growth, and living benefits
- ✓ Receive expert guidance on policy flexibility and rider options
Schedule your complimentary 30-minute universal life insurance consultation today and take control of your financial strategy.
No obligation. No pressure. Just clear, expert insights to help you decide if universal life insurance is your key to financial freedom.
7 comments
Michelle M
Good afternoon,
I would like to establish an IUL for myself
And an IUL for my son here in CA. My use and interest is tax savings as well as fund vehicle for investments.
Thank you.
Michelle M
Good afternoon,
I would like to establish an IUL for myself
And an IUL for my son here in CA. My use and interest is tax savings as well as fund vehicle for investments.
Thank you
Insurance&Estates
Hello Michelle, if you haven’t connected yet with our IUL expert Jason Herring, go ahead and reach out to him at jason@insuranceandestates.com to request a call.
Best, Steve Gibbs for I&E
michelle grant
Send me raites and information about Universal insurance. Michelle from Rhode island.
Insurance&Estates
Hi Michelle, thanks for commenting. Your request has been forwarded to Jason Herring who should be reaching out to you. You can also contact him directly at jason@insuranceandestates.com.
Best, Steve Gibbs for I&E
Jay D Reagan
I’m interested in gain financial independence, build wealth, plan for retirement!
Insurance&Estates
Hello Jay, thanks for reading and your enthusiastic comment. I’ve forwarded your interest to Jason Herring and someone will check in with you to see if you can help move you toward your goals.
Best, Steve Gibbs for I&E.