Lincoln Benefit Life Company

What Lincoln Benefit Life Company does

Lincoln Benefit Life Company (LBL) is a U.S. life insurance and annuity carrier founded in 1938 and headquartered in Lincoln, Nebraska, with administrative offices in Rosemont, Illinois. Since being acquired by Kuvare US Holdings, Inc. on December 31, 2019, LBL has operated as a closed-block servicer, no longer actively selling new policies but maintaining approximately 200,000 in-force policies across 49 states. Its product portfolio spans fixed and variable annuities, fixed and variable life insurance (including multiple VUL sub-products such as Consultant VUL, Consultant SL, Consultant Accumulator, Consultant Protector, Investor's Select, and TotalAccumulator), Whole Life II, long-term care insurance, and GenBuilder — a hybrid life-and-investment product serviced on a separate platform.

Revenue is generated primarily through recurring premium and fee income on the in-force annuity and life insurance blocks, supplemented by net investment income on the general account. Distribution of legacy sales was historically indirect, channeled through independent marketing organizations, broker-dealers, registered investment advisors, and banks within the Kuvare network of roughly 3,000 agents. Day-to-day policy administration is largely outsourced: se2 handles annuity and GenBuilder servicing (billing, claims, payments), Alliance-One manages agent licensing and commissions, and Prudential services variable annuity contracts. LBL's underlying technology footprint consists of two customer-facing web portals (annuity and life insurance) for policyholder self-service; there is no disclosed proprietary AI/ML, no public mobile app, and no API surface.

Strategically, LBL functions as a run-off platform within Kuvare's diversified financial services portfolio, which also includes Guaranty Income Life and United Life Insurance Company. Growth in the in-force block has been driven by affiliated reinsurance reserve assumptions — most notably a $1.5 billion fixed annuity transaction in December 2020 and continuing quarterly affiliated reinsurance reports through 2025 Q4. Recent rating actions illustrate the capital tension of this strategy: KBRA downgraded LBL from A- to BBB+ in February 2025 citing earnings strain and elevated reinsurance leverage, while AM Best affirmed a B++ (Good) Financial Strength Rating with stable outlook effective December 17, 2025.

Name

Lincoln Benefit Life Company

Legal name

Lincoln Benefit Life Insurance Company

Website

https://lbl.com

Company type

Private

Founded year

1938

Operating status

Operating

Headcount range

101–250 employees

Short description

Lincoln Benefit Life, founded in 1938 and headquartered in Lincoln, Nebraska, is a closed-block life insurance and annuity carrier owned by Kuvare, servicing approximately 200,000 existing policyholders across 49 states with fixed and variable annuity and life insurance products.

Ownership category

akta.pro rank

Product category

Life Insurance and Annuities

NAICS

Direct Life Insurance Carriers (524113), Direct Life, Health, and Medical Insurance Carriers (52411), Direct Health and Medical Insurance Carriers (524114)

SIC

Life Insurance (6311)

akta.pro primary industry

Traditional Long-Term Care (LTC) Insurance (FSAIAJAA)

Keywords

• Life insurance products
• Annuity products
• Fixed annuities
• Variable life insurance
• Long-term care insurance

Headquarters

HQ city

Lincoln

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Life Insurance Premiums: Collection of insurance premiums from life insurance policyholders including fixed life, variable life, and whole life products
2. Annuity Products: Fixed annuities, variable annuities, and deferred annuity products generating fee and premium income
3. Long-Term Care: Long-term care insurance policies generating premium income

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

Lincoln Benefit Life Company (LBL) provides life insurance and annuity products to individual policyholders, including fixed and variable annuities, fixed and variable life insurance, whole life insurance, long-term care, and specialized products such as GenBuilder. Founded in 1938 and based in Lincoln, Nebraska, LBL no longer actively sells new policies and instead services an existing block of approximately 200,000 policyholders across 49 U.S. states through dedicated customer service teams and web-based portals.

Product overview

Lincoln Benefit Life offers a diversified portfolio of life insurance and annuity products designed to serve middle market consumers. The product lineup includes fixed annuities and variable annuities (both serviced through Prudential for variable contracts), fixed and variable life insurance products, Whole Life II permanent coverage, long-term care insurance, and GenBuilder policies. Variable life products are offered through multiple sub-brands including Consultant VUL, Consultant SL, Consultant Accumulator, Consultant Protector, Investor's Select, and TotalAccumulator. While LBL no longer actively sells new policies, the company remains committed to servicing existing policyholders across approximately 200,000 policies in 49 states.

Differentiator

Problem solved

Functional benefit

Products and services

• Fixed Annuities
• Variable Annuities
• Fixed Indexed Annuities
• Multi-Year Guaranteed Annuities
• Fixed Life Insurance
• Variable Life Insurance
• Whole Life II
• Long-Term Care
• GenBuilder
• Consultant VUL
• Consultant SL
• Consultant Accumulator VUL
• Consultant Protector VUL
• Investor's Select VUL
• TotalAccumulator VUL

Quantifiable outcome

• Servicing approximately 200,000 policyholders in 49 states
• +1 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Two partnerships are on record, tiered minor and core.

• Alliance-One Services, Inc.minorImplementation/ SI/ Consulting Partner · 22 January 2018Alliance-One handles agent-related services including agent maintenance, licensing and commissions for life insurance policies sold by LBL agents. Licensing and agent maintenance for independent agents in the MBA channel is administered by Alliance-One.
• se2coreImplementation/ SI/ Consulting Partner · 21 February 2015se2 is a third-party administrator handling all administrative services for LBL's annuity and GenBuilder business including billing, customer service, claim requests, and payment processing. All customer service representatives are based in the United States.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Guaranty Income Life Insurance Company: Sister company within the Kuvare family (acquired 2016) offering a comparable mix of life insurance and annuity products to middle-market consumers. Operates under the same parent platform and reinsurance strategy, making it the closest functional and structural comparable.
• United Life Insurance Company: Another Kuvare-owned life insurance carrier (acquired 2018) based in Cedar Rapids, Iowa. Comparable in product mix (life and annuities), run-off orientation, and middle-market distribution model, making it directly comparable within the same ownership platform.
• Sagicor Life Insurance Company: Mid-market life insurance and annuity carrier operating in the U.S. with a focus on simplified-issue and fixed products distributed through independent agents. Comparable product set, distribution approach, and customer segment to LBL.
• National Western Life Insurance Group: Privately held annuity and life insurance carrier focused on fixed and indexed annuities through independent agents. Closely comparable product mix (fixed annuities and whole life) and middle-market distribution strategy.
• F&G Annuities & Life: Publicly traded annuity and life insurance carrier with a heavy concentration in fixed indexed annuities and multi-year guaranteed annuities distributed through independent agents. Direct overlap in annuity product set and IMO/broker-dealer distribution.
• American Equity Investment Life Holding: Fixed annuity specialist (now owned by Brookfield Reinsurance following 2024 take-private) with strong distribution through IMOs and broker-dealers. Highly comparable annuity product set and agent-driven GTM motion.
• Globe Life Inc. Publicly traded life and supplemental health insurance carrier focused on middle-market American families, distributed through agent networks. Comparable customer profile, life insurance emphasis, and indirect distribution strategy.
• Genworth Financial: Publicly traded life insurance and long-term care insurer with a sizable legacy LTC block and a run-off-oriented U.S. Life segment. Closely comparable in life + LTC product mix and in-force servicing focus.
• Sammons Financial Group (North American Company for Life and Health): Privately held insurance group offering fixed and indexed annuities, life insurance, and disability products through independent agents. Comparable product portfolio, distribution model, and middle-market customer focus.

Broad incumbents

• Resolution Life: Globally active closed-block life insurance consolidator (formerly LBL's parent before Kuvare). Comparable run-off/closed-block strategy and platform approach to managing legacy life and annuity liabilities at scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/lincolnbenefitlife

Compliance4 records

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 Lincoln Benefit Life Company