The stats are well-known: Less than 60 percent of the United States population has life insurance. Most consumers think they need more coverage, but don’t think they can afford it. In part, this is because the cost of life insurance is not widely understood: 80 percent of consumers misjudge the expense associated with term life insurance.

Despite these challenges, revenue from life insurance premiums is on the rise. In 2014, the most recent year for which SNL Financial has complete published data, revenue from life insurance premiums in the U.S. totaled $133.8 billion, a 6.2 percent increase over the prior year. Total premium revenue across all product lines — life insurance, annuity, accident and health insurance — grew by 15.1 percent, to $647.3 billion. 

So where is the most life insurance sold? Our list looks at the ten states that post the biggest premium numbers. Rankings are sorted by life insurance premiums, but we’ve also included numbers for annuities, accident and health insurance premiums, deposit-type contract funds and other considerations, to give a full picture of the industry revenue generated by each state.

Editor’s Note: All data is from SNL Financial, and includes direct premiums written before reinsurance transactions. It excludes state funds.

raleigh, north carolina

10. North Carolina

Life insurance premiums: $4.235 billion

Annuity considerations: $6.924 billion 

Accident and health insurance premiums: $5.142 billion

Deposit-type contract funds: $1.273 billion

Other considerations: $2.437 billion

Total: $20.011 billion

 

georgia

9. Georgia

Life insurance premiums: $4.296 billion

Annuity considerations: $5.296 billion 

Accident and health insurance premiums: $4.748 billion

Deposit-type contract funds: $572 million

Other considerations: 2.653 billion 

Total: $17.564 billion

 

ohio

8. Ohio

 

Life insurance premiums: $4.856 billion

Annuity considerations: $10.022 billion

Accident and health insurance premiums: $6.373 billion

Deposit-type contract funds: $3.890 billion

Other considerations: $1.879 billion

Total: $27.020 billion

 

pennsylvania

7. Pennsylvania

Life insurance premiums: $6.256 billion

Annuity considerations: $12.695 billion

Accident and health insurance premiums: $5.979 billion

Deposit-type contract funds: $2.987 billion 

Other considerations: $5.924 billion

Total: $33.842 billion

 

new jersey

6. New Jersey

Life insurance premiums: $6.261 billion

Annuity considerations: $11.568 billion

Accident and health insurance premiums: $6.533 billion 

Deposit-type contract funds: $1.401 billion

Other considerations: $2.567 billion

Total: $28.330 billion

 

chicago

5. Illinois

 

Life insurance premiums: $6.519 billion 

Annuity considerations: $10.325 billion 

Accident and health insurance premiums: $6.416 billion

Deposit-type contract funds: $1.277 billion

Other considerations: $2.447 billion

Total: $26.985 billion

tampa, florida

4. Florida

 

Life insurance premiums: $8.421 billion

Annuity considerations: $18.135 billion

Accident and health insurance premiums: $11.786 billion 

Deposit-type contract funds: $1.064 billion

Other considerations: $3.739 billion

Total: $43.144 billion

 

san antonio, texas

3. Texas

 

Life insurance premiums: $10.665 billion 

Annuity considerations: $15.873 billion

Accident and health insurance premiums: $14.507 billion

Deposit-type contract funds: $2.179 billion

Other considerations: $2.794 billion

Total: $46.009 billion

new york

2. New York

 

Life insurance premiums: $11.262 billion

Annuity considerations: $17.382 billion

Accident and health insurance premiums: $8.496 billion

Deposit-type contract funds: $24.152 billion

Other considerations: $9.491 billion 

Total: $70.783 billion

los angeles, calif.

1. California

 

Life insurance premiums: $15.113 billion

Annuity considerations: $23.141 billion

Accident and health insurance premiums: $13.893 billion 

Deposit-type contract funds: $2.093 billion

Other considerations: $7.324 billion

Total: $61.564 billion