1891 Financial Life

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.

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

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

• Life insurance products
• Fraternal benefit society
• Annuity products
• Retirement income planning
• Whole life insurance

Headquarters

HQ city

Schaumburg

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. 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.
2. 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.
3. 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

Go-to-market motion3 records

Distribution channels3 records

Marketing channels7 records

Core 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

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

One partnership is on record.

• Breathe LifecoreTechnology or Integration · 5 November 20211891 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

Direct 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

• Xx.com/1891financial
• LinkedInlinkedin.com/company/1891-financial-life
• Facebookfacebook.com/1891FinancialLife

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about 1891 Financial Life