WoodmenLife

What WoodmenLife does

WoodmenLife, formally Woodmen of the World Life Insurance Society, is an Omaha, Nebraska-based fraternal benefit society founded in 1890 that provides life insurance and retirement products to individual consumers across all 50 U.S. states. The company operates as a not-for-profit membership organization owned by its members rather than shareholders, governed by a 12-member National Board of Directors with a majority of independent directors, and held approximately $11.3 billion in assets as of December 31, 2025. Its core product set spans multiple life insurance lines — term, whole, universal (including indexed universal life and no-lapse guarantee universal life), family term, and final expense — alongside Medicare supplement insurance and a full retirement annuity suite covering SPDA, FPDA, immediate, non-qualified, and variable annuities. Securities products, including mutual funds and 529 College Savings Plans, are distributed through its wholly-owned subsidiary Woodmen Financial Services, Inc., a FINRA/SIPC member.

WoodmenLife monetizes through recurring insurance premiums and annuity contributions, with rate cards publicly disclosed for fixed deferred annuities (SPDA lock-in rates from 3.70% to 4.70% and FPDA from 3.55% to 4.55% depending on premium tier) and variable annuity fees including mortality and expense risk charges, surrender charges, and administrative fees. Distribution is sales-led: a network of licensed field representatives operates from headquarters in Omaha and regional offices in 18+ states, supported by a member self-serve portal at member.mywoodmen.org. The fraternal structure layers community engagement — local chapters, scholarships, volunteering, and a WoodmenLife Magazine — on top of the financial product offering.

The company has held an A+ (Superior) financial strength rating from AM Best for 50+ years (effective February 20, 2026) and was ranked #1 in the permanent life insurance category in the Forbes 2026 America's Best Insurance Companies list out of more than 3,100 eligible insurers, based on a survey of over 18,000 policyholders. Additional recognition includes a BBB A+ accredited rating, the International Torch Award for Ethics 2025, and Greater Omaha Chamber Business Excellence awards. Leadership includes President and CEO Patrick Dees and Governance Committee Chair Dr. James W. Shaver. No external funding, M&A, or AI/technology platform disclosures are present in the source data.

Name

WoodmenLife

Legal name

Woodmen of the World Life Insurance Society

Website

https://woodmenlife.org

Company type

Private

Founded year

1890

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

WoodmenLife is a 135-year-old Omaha-based fraternal benefit society offering life insurance, Medicare supplement, annuities, and securities products to U.S. consumers in all 50 states through a field-sales network and member portal, holding approximately $11.3 billion in assets.

Ownership category

akta.pro rank

Headquarters

HQ city

Omaha

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Life Insurance Premiums: WoodmenLife generates revenue primarily through life insurance premiums, including term life, whole life, universal life, and final expense insurance products. The company has been in operation for over 135 years.
2. Annuity Products: The company offers various annuity products including deferred fixed annuities (SPDA and FPDA), immediate annuities, variable annuities, and non-qualified annuities. These products generate revenue through premium payments and fees.
3. Medicare Supplement Insurance: WoodmenLife provides Medicare supplement insurance plans that help fill gaps in Medicare coverage, generating premium revenue.
4. Securities and Investment Products: Through its wholly-owned subsidiary Woodmen Financial Services, Inc. (WFS), the company offers securities including mutual funds and 529 College Savings Plans, operating as a FINRA/SIPC member.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

WoodmenLife is a fraternal benefit society selling life insurance (term, whole, universal, indexed universal, no-lapse guarantee universal, final expense, and family term), Medicare supplement insurance, and retirement annuity products (deferred fixed annuities, immediate annuities, variable annuities, and non-qualified annuities). Through subsidiary Woodmen Financial Services, Inc. it also distributes mutual funds and 529 College Savings Plans. Products are sold primarily through a network of licensed field representatives across the United States.

Product overview

WoodmenLife is a fraternal benefit society offering a comprehensive portfolio of life insurance and retirement financial products. The core offerings include various life insurance types (term life, whole life, universal life with indexed and no-lapse guarantee variants, and final expense), Medicare supplement insurance, and a full range of retirement products including deferred fixed annuities (SPDA and FPDA), immediate annuities, non-qualified annuities, and variable annuities. Products are offered alongside member extras including financial education resources, scholarships, and community programs. The company operates through a network of representatives and regional offices across the United States, with securities offered through its subsidiary Woodmen Financial Services, Inc.

Differentiator

Problem solved

Functional benefit

Brands

• Woodmen Financial Services, Inc. A wholly owned subsidiary providing securities and investment services, member FINRA/SIPC.

Products and services

• Life Insurance Core life insurance product line providing financial security for loved ones after death, encompassing term, whole, and universal life options. Designed for individuals and families seeking to protect beneficiaries against the financial impact of the policyholder's death.
• Family Term Life

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• American Fraternal AllianceminorOthersWoodmenLife is a member of the American Fraternal Alliance, which unites 59 not-for-profit fraternal benefit societies operating in 50 states, the District of Columbia and Canada. Alliance members represent nearly 8 million people, making it one of America's largest member-volunteer networks.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Thrivent: Large fraternal benefit society providing life insurance, annuities, and investment products to members, with comparable faith- and community-oriented values and a similar not-for-profit member-owned structure.
• Knights of Columbus: Catholic fraternal benefit society offering life insurance, disability income, and annuities through a member-rep and chapter-based model—directly comparable to WoodmenLife's fraternal structure and field distribution.
• Modern Woodmen of America: Direct peer fraternal benefit society offering life insurance and annuities with a similar field-rep distribution model and community-based membership approach; near-identical target customer of working American families.

Broad incumbents

• Sammons Financial Group: Midwestern-based insurer with life insurance and annuity subsidiaries (North American Company, Midland National); directly comparable product mix and middle-American customer target.
• Northwestern Mutual: Largest U.S. mutual life insurer offering permanent and term life, disability income, and annuities via a financial advisor-led model; benchmark for top-tier financial strength ratings and advisor-driven distribution.
• Ameritas: Nebraska-headquartered mutual insurer offering individual life, annuities, and retirement plans with comparable mid-market American customer focus and traditional agent distribution.
• Lincoln Financial Group: Publicly traded insurer and annuity provider with strong life insurance and retirement plan offerings; competitor for fixed and variable annuity market share and life insurance distribution.
• New York Life: Largest U.S. mutual life insurer with extensive life, annuity, and long-term care products distributed through a career-agent force—competes directly for the same life insurance and retirement customer.
• Globe Life: Large U.S. life and supplemental health insurer targeting middle-income American families; directly comparable customer segment and product emphasis on life insurance.
• Mutual of Omaha: Omaha-headquartered mutual insurer offering individual life, Medicare supplement, and retirement products; comparable in product mix and geographic customer base though broader and stock-distribution adjacent.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/woodmenlife
• YouTubeyoutube.com/user/ProducerWOW
• Facebookfacebook.com/WoodmenLife
• Instagraminstagram.com/woodmenlife

Compliance16 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 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 WoodmenLife