Gleaner Life Insurance Society

What Gleaner Life Insurance Society does

Gleaner Life Insurance Society is a 501(c)(8) fraternal benefit society founded on October 12, 1894 by Grant Slocum and headquartered on a 106-acre campus in Adrian, Michigan. The organization sells life insurance and annuity products to retail consumers and small businesses in 19 U.S. states through a network of licensed independent agents, with policy administration, claims, and member services run from the Home Office by roughly 51-100 employees. Its life portfolio includes term life (Value Term), indexed universal life (Strategic Choice IUL, S&P 500-linked with a 0.50% floor and 3.00% cap), whole life (Blueprint Whole Life Series with single- and level-premium options), and juvenile coverage (Just For Kids, $10,000 face for a $125 one-time premium). Its annuity portfolio, branded Foundation Series, spans a flexible-premium deferred annuity (Foundation 9, currently 4.00%-5.20% credited by balance tier with a 1.00% guaranteed minimum), 2/4/6-year single-premium deferred annuities (MYGA2/4/6), a single-premium immediate annuity (SPIA, $25K minimum, 14 payout options), and two indexed annuities (Strategic Choice 7-year with 0.25% floor and 10% penalty-free withdrawals; Strategic Advantage 10-year with 0% floor and 15% minimum participation rate).

The business model is subscription/recurring in nature: ongoing life premiums, annuity contributions, and investment income on the $1.18B asset base (as of December 31, 2024) generate the society's revenue, with statutory surplus of $111.3M, zero debt, and a $110.45 solvency ratio (above the average of 25 leading life insurers) providing a conservative capital cushion. As a not-for-profit, Gleaner is owned by its certificate-holding members, who elect the board biennially and vote on constitutional changes. Member benefits are layered on top of the financial products, including access to local arbors (service clubs in seven states), scholarships (over $4.6M awarded since 1980), the Give and Grow grant program, biennial conventions, and family-oriented events.

Distribution is sales-led through independent licensed agents across 19 states (AZ, FL, GA, IA, IL, IN, KS, KY, MI, MO, NC, NE, OH, PA, SC, TN, VA, WI, WV), supplemented by a community-led motion in which arbors drive grassroots member acquisition and word-of-mouth referrals. Member servicing and certificate administration occur through the Home Office and an online member portal; payments are processed via third-party processor ePayPolicy. Strategic activity in 2025-2026 includes the Matt Taylor promotion to COO, the launch of the Strategic Advantage Indexed Annuity, and the December 2025 sale of 30 acres of campus land to the Sam Beauford Woodworking Institute.

Name

Gleaner Life Insurance Society

Legal name

Gleaner Life Insurance Society

Website

https://gleanerlife.org

Company type

Private

Founded year

1894

Operating status

Operating

Headcount range

51–100 employees

Short description

Gleaner Life Insurance Society is a 130-year-old, member-owned fraternal benefit society headquartered in Adrian, Michigan that sells life insurance and fixed/indexed annuities to retail consumers and small businesses across 19 U.S. states through licensed independent agents.

Ownership category

akta.pro rank

Product category

Life Insurance and Annuities

NAICS

Direct Life Insurance Carriers (524113)

SIC

Life Insurance (6311)

akta.pro primary industry

Participating (Dividend) Whole Life Insurance (FSAIABAI)

akta.pro secondary industries

Level Term Life Insurance (FSAIAAAA), Non-Participating Whole Life Insurance (FSAIABAJ), Whole Life / UL Policy Riders & Add-ons (e.g., Waiver of Premium, Accidental Death, Child Term, LTC/Chronic Illness) (FSAIABAK)

Keywords

• Fraternal life insurance
• Fixed annuity products
• Indexed universal life
• Term life coverage
• Whole life insurance

Headquarters

HQ city

Adrian

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Life Insurance Premiums: Gleaner collects recurring premium payments from policyholders for term life, universal life, and whole life insurance products. Premiums may be paid on a level, flexible, or single-premium basis depending on the product.
2. Annuity Contributions: Single premium and flexible premium contributions into deferred and immediate annuity products. Annuities grow tax-deferred with interest credits based on fixed or indexed accounts.
3. Membership Dues/Fees: As a fraternal benefit society, Gleaner members pay for life insurance certificates or annuities that confer membership status, with the organization providing member benefits, community programs, and fraternal services.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels11 records

Core offering

Gleaner Life Insurance Society is a not-for-profit fraternal benefit society that sells life insurance (term, indexed universal life, whole life, and children's coverage) and fixed/indexed annuities to individual members. Products are distributed through licensed independent agents in 19 U.S. states, with certificate servicing available nationwide and in Canada. The society pairs its financial products with a community engagement model built around local arbors (service clubs) that organize volunteer projects and charitable giving.

Product overview

Gleaner Life Insurance Society is a fraternal benefit society offering a comprehensive portfolio of life insurance and annuity products. The life insurance lineup includes term life (Value Term), indexed universal life (Strategic Choice IUL®), whole life (Blueprint Whole Life Series™), and children's coverage (Just For Kids®). The annuity portfolio, branded as the Foundation Series®, spans flexible premium annuities (Foundation 9), single-premium deferred annuities (MYGA2, MYGA4, MYGA6), single-premium immediate annuities (SPIA), and indexed annuities (Strategic Advantage and Strategic Choice Indexed Annuities). Products are designed for various life stages including singles, married couples, families, retirees, and business owners.

Differentiator

Problem solved

Functional benefit

Brands

• Gleaner: Primary brand name used for the organization and its products
• Gleaner Life
• Gleaner Life Insurance Society Scholarship Foundation

Products and services

• Gleaner Life Term Solutions Plus (Value Term) Traditional term life insurance providing economical coverage for specific periods, with a 10-year premium guarantee, optional full guarantee, conversion privilege before age 71 without proof of insurability, and an Accelerated Death Benefit rider for terminal illness. Designed for individuals seeking affordable temporary life insurance protection.
• Strategic Choice Indexed Universal Life® Indexed universal life insurance offering flexible premiums and cash value growth through fixed and indexed accounts linked to the S&P 500® Index with downside protection. Features a 0.50% guaranteed minimum floor rate, 3.00% cap rate, 2.00% fixed account guarantee, and living benefit riders for chronic, critical, and terminal illness. Provides permanent life insurance coverage.
• Gleaner's Blueprint Whole Life Series™ Permanent whole life insurance portfolio offering single-premium and level-premium payment options. Features dividend options, guaranteed insurability options, and living benefit riders for chronic, critical, and terminal illness. Designed for individuals seeking lifelong coverage with guaranteed cash value accumulation.
• Just For Kids® Children's term life insurance providing $10,000 of coverage with a one-time $125 premium payment for children ages 1 month through 17 years. Convertible up to $50,000 face amount without medical exam. Designed for parents seeking affordable life insurance coverage for their children.
• Foundation Series® Annuities Fixed deferred annuity portfolio including flexible-premium, single-premium deferred, and single-premium immediate options. All products feature tax-deferred growth, guaranteed minimum interest rates, and multiple surrender charge period structures. Designed for individuals seeking tax-advantaged retirement savings and income.
• Foundation 9 Flexible Premium Annuity Flexible premium deferred annuity allowing contributions over time with competitive interest rates starting at 4.00% for lower balances and up to 5.20% for $250,000+. Features 15% annual withdrawals without surrender charge and a 1.00% guaranteed minimum interest rate. Minimum initial premium of $1,000 or $100/month ACH.
• Foundation MYGA Series (MYGA2, MYGA4, MYGA6) Single-premium deferred annuities with multi-year interest rate guarantees. MYGA2 offers 2-year terms, MYGA4 offers 4-year terms, and MYGA6 offers 6-year terms, each with competitive fixed rates and surrender charge schedules. Designed for individuals seeking guaranteed multi-year interest rate locks with tax-deferred growth.
• Foundation Series® Single Premium Immediate Annuity (SPIA) Single premium immediate annuity establishing a guaranteed stream of income starting within the first year. Minimum premium of $25,000 with 14 payment options including fixed period, single life, and joint life structures. Available for issue ages 5-95 with monthly, quarterly, semi-annual, or annual payment modes.
• Strategic Advantage Indexed Annuity 10-year Strategic Advantage Indexed Annuity offering fixed and indexed account options for long-term planners. Indexed portion is linked to the S&P 500® with a 0.00% floor rate and 15.00% minimum participation rate. Surrender charge of 9% in years one and two.
• Strategic Choice Indexed Annuity Indexed annuity with a 7-year surrender charge period offering fixed and indexed account allocations. Features 10% annual penalty-free withdrawals, a 0.25% guaranteed minimum floor rate, and S&P 500® index linkage for tax-deferred growth with market participation and downside protection.

Quantifiable outcome

• Over $1.2 billion in assets with zero debt as of 2024
• +4 more outcomes

Named customers5 records

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature5 records

Partnerships

Five partnerships are on record, tiered major, core and minor.

• Sam Beauford Woodworking Institute (SBWI)majorStrategic or Co-development Partner · 1 December 2025Gleaner Life sold 30 acres of its wooded lot to the Sam Beauford Woodworking Institute for expansion. SBWI, founded in Adrian, Michigan in 2015, is a premier trades school for woodworking and fine craftsmanship. Construction of SBWI's new campus is slated to begin in spring 2026. The partnership reflects both organizations' shared commitment to education, skilled trades, and community development in Lenawee County.
• Lenawee Community FoundationcoreStrategic or Co-development PartnerGleaner Works with the Lenawee Community Foundation on the annual Gleaner Gives campaign, which has donated over $675,000 to non-profit groups in Lenawee County over 10 years. The foundation helps administer employee contributions and charitable giving.
• Disabled American Veterans (DAV) Lenawee Chapter #20minorStrategic or Co-development PartnerGleaner's annual Flag Exchange led to a $7,400 donation to help DAV save for a new shuttle van, with matching funds from Gleaner and the Joseph Wildberg Fund for Veterans.
• Grace Centers of HopeminorStrategic or Co-development PartnerChampion Arbor members partnered with Grace Centers of Hope rescue mission for a 'Luvs and Gloves' project providing diapers and baseball equipment to women and children in the 12-month in-house program.
• AIM OutreachminorStrategic or Co-development PartnerStephen Matson's Good Deeds Arbor donated to AIM Outreach, a small non-profit offering weekly food pantry in two villages in Muskingum County, Ohio.

Scale indicators19 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Woodmen of the World / WoodmenLife: Fraternal benefit society providing life insurance and annuities with a member-fraternal focus and community service programs; competes in the same niche as Gleaner with a broader national footprint.
• EquiTrust Life Insurance Company: Annuity-focused life insurer offering fixed, indexed, and immediate annuities through independent agents; competes head-to-head with Gleaner's Foundation Series annuities.
• Knights of Columbus: Catholic fraternal benefit society offering life insurance, disability income, long-term care, and annuities exclusively to members; a directly comparable faith-based fraternal carrier competing in similar life and retirement products.
• Security Benefit: Specialist in fixed and indexed annuities distributed through independent agents and RIAs; a direct competitor in the Foundation Series / Strategic Choice Indexed Annuity category.
• Catholic Financial Life: Faith-based fraternal benefit society selling life insurance and annuities through member representatives, with shared Catholic/Midwest roots and similar scale to Gleaner.
• Modern Woodmen of America: Large fraternal benefit society offering life insurance, annuities, and community-driven programs via local chapters/representatives; structurally the closest analog to Gleaner's fraternal model and Midwest concentration.
• Foresters Financial: Fraternal benefit society focused on life insurance, annuities, and member benefits for community-minded individuals; directly comparable fraternal model with overlapping individual life and annuity product lines.
• Thrivent Financial: Fraternal benefit society offering life insurance, annuities, and wealth management with a faith-based, member-owned structure; serves as a much larger scaled example of the fraternal-insurance model Gleaner operates.

Emerging players

• Assurity Life Insurance: Mutual life and disability insurer selling individual life, disability, and annuity products through independent agents; comparable product mix and Midwest U.S. base, though not fraternal.

Broad incumbents

• Penn Mutual: Mutual life insurer offering individual life insurance, annuities, and wealth products through financial professionals; broader incumbent with overlapping life and annuity products distributed similarly via independent advisors.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

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 Gleaner Life Insurance Society