1891 Financial Life
1891 Financial Life is a not-for-profit fraternal benefit society, founded in 1891 and headquartered in Schaumburg, Illinois, that underwrites life insurance and annuity products for individuals and families across 17 U.S. states. Its fraternal model bundles policies with member benefits, scholarships, and community programs, distributed through independent agents and a digital channel.
- Company typePrivate
- Founded1891
- HeadquartersSchaumburg, United States
- Headcount11–50
- GTM typeB2C
- OfferingServices
What 1891 Financial Life does
1891 Financial Life is a not-for-profit fraternal benefit society headquartered in Schaumburg, Illinois, licensed to underwrite life insurance and annuity products in 17 U.S. states (CA, CO, IL, IN, IA, KS, MI, MN, MO, MT, NE, ND, OH, OR, SD, WA, WI). The organization was founded in 1891 as the Women's Catholic Order of Foresters by 12 women led by Elizabeth Rodgers and operates today under the leadership of CEO Lisa Bickus. Its core product lines include term life insurance (10/20/30-year terms), Lifetime Protection whole/universal life with cash value accumulation, Simplified Issue Whole Life (no medical exam up to $100,000), Juvenile Term Life for ages 0-18, and a suite of annuity products (Flexible Premium Deferred Annuity, 5-Year Multi-Year Guaranteed Annuity currently promoted at 4.5%, Single Premium Fixed Indexed Annuity, and Single Premium Immediate Annuity). An optional Living Benefits Rider was launched on new life certificates to provide early access to the death benefit upon chronic or terminal illness diagnosis.
The society is built on a fraternal model that bundles insurance products with member-only benefits including scholarships, service grants, community volunteer programs (Join Hands Day, Pop-Up Impact Team events), and a Hearts & Hands matching funds program. Distribution is hybrid: a captive network of independent licensed insurance agents provides high-touch sales, while a consumer-facing digital channel offers online quote requests, bill payment, an eApplication portal, and online illustrations through the Breathe Life partnership announced in 2021. Marketing spans the 1891 Life Lines blog, an eNewsletter, organic social media, earned media features on The Balancing Act, and community events including the quadrennial Member Summit held during the 2026 135th anniversary year.
Revenue mechanics are those of a traditional life insurance and annuity carrier operating on a not-for-profit basis: recurring life insurance premiums, lump-sum and flexible annuity contributions, and membership dues fund operations, member benefits, and community programs rather than shareholder returns. Pricing is quote-based for life insurance (based on age, health, coverage, and policy type) and rate-driven for annuities, with billing cadences of monthly for life insurance and pay-as-you-go for annuity products. The organization has received third-party validation through Forbes, ranking #1 in Term Life Insurance for 2026 and appearing on the World's Best Insurance Companies 2023 list based on a survey of over 30,000 consumers across 15 countries.
1891 Financial Life firmographics
Firmographics- Name
- 1891 Financial Life
- Legal name
- 1891 Financial Life
- Website
- https://1891financiallife.com
- Company type
- Private
- Founded year
- 1891
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- 1891 Financial Life is a not-for-profit fraternal benefit society, founded in 1891 and headquartered in Schaumburg, Illinois, that underwrites life insurance and annuity products for individuals and families across 17 U.S. states. Its fraternal model bundles policies with member benefits, scholarships, and community programs, distributed through independent agents and a digital channel.
- Ownership category
- akta.pro rank
1891 Financial Life industry classification
Industry- Product category
- Life Insurance & Annuities
- NAICS
- Direct Life Insurance Carriers (524113), Direct Life, Health, and Medical Insurance Carriers (52411)
- SIC
- Life Insurance (6311), Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Whole Life Insurance (FSAIABAA)
- akta.pro secondary industries
- Level Term Life Insurance (FSAIAAAA), Guaranteed Issue Whole Life Insurance (FSAIABAG)
Keywords
Where 1891 Financial Life is headquartered
LocationHeadquarters
- HQ city
- Schaumburg
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
1891 Financial Life business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- Life Insurance Premiums: The company collects recurring premium payments from policyholders for life insurance coverage including term life and whole/universal life policies. Premiums are the primary revenue stream funding the not-for-profit society's operations and member benefits.
- Annuity Products: Revenue generated from annuity products including Multi-Year Guaranteed Annuities (MYGAs), Fixed Indexed Annuities, Single Premium Immediate Annuities, and Flexible Premium Deferred Annuities. Annuities provide tax-deferred accumulation and lifetime income options.
- Membership Dues/Benefits: As a fraternal benefit society, revenue supports member benefits, social programs, educational initiatives, and volunteer programs. The not-for-profit structure means proceeds fund member benefits rather than shareholder returns.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Term Life Insurance - 10, 20, or 30-year term options |
| Subscription | Monthly | Lifetime Protection (Whole/Universal Life) |
| One time/ perpetual license | Pay-as-you-go | Multi-Year Guaranteed Annuity (5-Year MYGA) |
| One time/ perpetual license | Pay-as-you-go | Single Premium Immediate Annuity (SPIA) |
| Subscription | Multi-year contract | Juvenile Term Life - Ages 0-18 |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels7 records
1891 Financial Life product offering
Product offeringCore offering
1891 Financial Life is a not-for-profit fraternal benefit society that sells individual life insurance policies—including term, whole life, juvenile term, and simplified issue whole life—and annuity products, including multi-year guaranteed, single premium immediate, fixed indexed, and flexible premium deferred annuities. It serves individual members through licensed insurance agents and direct online channels across 17 U.S. states.
Product overview
1891 Financial Life offers a comprehensive portfolio of life insurance and annuity products through a not-for-profit fraternal benefit society model. Life insurance offerings include Lifetime Protection (permanent whole life with cash value), Term Protection (10/20/30-year terms with conversion option), Juvenile Term Life for children ages 0-18, and Simplified Issue Whole Life. Annuity products include Flexible Premium Deferred Annuity, Multi-Year Guaranteed Annuity (MYGA) with 5-year terms, Single Premium Fixed Indexed Annuity linked to market indices with principal protection, and Single Premium Immediate Annuity (SPIA) for immediate income conversion. Optional Living Benefits Rider provides early access to death benefits for chronic/terminal illness. Additional services include a Life Insurance Calculator tool, member benefits, grants, scholarships, and community service programs. Products are available in CA, CO, IL, IN, IA, KS, MI, MN, MO, MT, NE, ND, OH, OR, SD, WA, WI.
Differentiator
Problem solved
Functional benefit
Products and services
- Term Life Insurance Pure term life insurance coverage for income replacement, with industry recognition as Forbes #1 in Term Life Insurance 2026 and World's Best Insurance Companies 2023. Sold to individual members through licensed agents and direct online quotes.
- Whole Life Insurance Permanent life insurance with cash value accumulation for individual members seeking lifetime protection and a savings component, purchased through licensed agents or direct website.
- Juvenile Term Life Insurance Term life insurance on the lives of children, purchased by parents/grandparents to lock in coverage at a young age and access society member benefits such as scholarships.
- Simplified Issue Whole Life Insurance Permanent whole life coverage available with limited underwriting, designed for individual consumers who want final expense or smaller permanent policies without extensive medical exams.
- Multi-Year Guaranteed Annuity (MYGA) Fixed deferred annuity with a multi-year guaranteed interest rate, sold to individuals for tax-deferred retirement savings through licensed agents.
- Single Premium Immediate Annuity (SPIA) Annuity that converts a lump-sum premium into a guaranteed income stream beginning almost immediately, purchased by individuals for retirement income through licensed agents.
- Fixed Indexed Annuity (FIA) Deferred annuity that credits interest based on the performance of an external equity index, with a floor protecting against downside losses, sold to individuals for tax-deferred retirement accumulation.
- Flexible Premium Deferred Annuity (FPDA) Deferred annuity allowing flexible periodic premium payments with tax-deferred accumulation, marketed to individual savers seeking retirement assets.
Quantifiable outcome
- Forbes #1 Ranking in Term Life Insurance for 2026
- +1 more outcomes
Companies that use 1891 Financial Life
Customer profileSegments3 records
Ideal customer profiles3 records
1891 Financial Life technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature4 records
1891 Financial Life partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Breathe Lifecore1891 Financial Life partnered with Breathe Life, a provider of hybrid life insurance distribution solutions, to deliver a modern online purchasing experience for customers. The partnership enables digital application submission and streamlined policy issuance through an integrated platform.
Scale indicators4 records
Recent moves6 records
Expansion highlights4 records
1891 Financial Life competitors and assessment
Company assessmentDirect peers
- Catholic Financial Life: A Catholic fraternal benefit society offering life insurance and annuities to members nationwide. Direct peer given nearly identical faith-based fraternal model, product suite, and member-benefit structure.
- Knights of Columbus: One of the largest Catholic fraternal benefit societies in the US, offering life insurance, disability income, long-term care, and annuities. Highly comparable faith-based fraternal insurer with a similarly broad product portfolio.
- Modern Woodmen of America: A fraternal benefit society providing life insurance, annuities, and financial products with a member-community model. Highly comparable in structure, product mix, and mid-market agent-led distribution.
- WoodmenLife: A fraternal benefit society offering life insurance and annuity products. Comparable member-benefit-driven model with similar geographic and product positioning, though serving a broader fraternal membership.
- Foresters Financial: A fraternal benefit society providing life insurance and savings products to members across the US and Canada. Directly comparable fraternal model with a focus on member benefits and community programs.
- Royal Neighbors of America: A fraternal benefit society issuing life insurance and annuity certificates to women members. Closely comparable in fraternal structure, women's heritage, and life/annuity product mix.
Broad incumbents
- Thrivent Financial: A large fraternal financial services organization offering life insurance, annuities, and wealth management with a faith-based (Christian) member community. Comparable fraternal DNA but at significantly greater scale and breadth.
- National Western Life Insurance Group: A small-cap stock life insurer specializing in life insurance and annuity products for niche and middle-income markets. Comparable product focus and middle-market positioning, though structured as a for-profit public company.
Emerging players
- Assurity Life Insurance Company: A mutual life and disability insurer offering individual life, disability, and annuity products with a focus on simplified-issue and small-business markets. Comparable in offering accessible life products to middle-market consumers.
- Sagicor Life Insurance Company: A life and annuity insurer serving US consumers with a focus on final expense, indexed annuities, and life products. Comparable niche-market life/annuity orientation and middle-income customer base.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
1891 Financial Life social profiles
Digital presence1891 Financial Life financial estimates
Financial estimateRevenue estimate
Valuation estimate
1891 Financial Life leadership team
Management profileNumber of profiles
Profiles1 record
1891 Financial Life funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
1891 Financial Life M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about 1891 Financial Life
What does 1891 Financial Life do?
1891 Financial Life is a not-for-profit fraternal benefit society that sells individual life insurance policies—including term, whole life, juvenile term, and simplified issue whole life—and annuity products, including multi-year guaranteed, single premium immediate, fixed indexed, and flexible premium deferred annuities. It serves individual members through licensed insurance agents and direct online channels across 17 U.S. states.
Is 1891 Financial Life a public or private company?
1891 Financial Life is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was 1891 Financial Life founded?
1891 Financial Life was founded in 1891. It employs 11 to 50 people.
Where is 1891 Financial Life based?
1891 Financial Life is headquartered in Schaumburg, United States, in the North America region.
How does 1891 Financial Life make money?
Three revenue lines are on record. Life Insurance Premiums are the primary driver. The others are annuity Products and membership Dues/Benefits.
Who are 1891 Financial Life's main competitors?
Direct peers on record are Catholic Financial Life, Knights of Columbus, Modern Woodmen of America, WoodmenLife, Foresters Financial and Royal Neighbors of America. Broad incumbents are Thrivent Financial and National Western Life Insurance Group. Emerging players are Assurity Life Insurance Company and Sagicor Life Insurance Company.
Does 1891 Financial Life have an API?
No public API is recorded for 1891 Financial Life.
What industry is 1891 Financial Life in?
1891 Financial Life's product category is Life Insurance & Annuities. Its primary akta.pro industry code is FSAIABAA, Whole Life Insurance, with a secondary code of FSAIAAAA, Level Term Life Insurance. Its NAICS code is 524113 and its SIC code is 6311.