Banks Ranked by Life Insurance Assets
A look at bank-owned life insurance and what families and business owners can learn from it.
U.S. banks hold billions of dollars in life insurance assets on their balance sheets. These policies help banks plan for employee benefit costs and protect against the loss of key people. They also show how life insurance can serve a purpose during the insured person’s lifetime.
The top ten banks
Historical snapshot: December 31, 2025. These are the figures used in this presentation, not a live ranking.
| Rank | Bank | Life insurance assets |
|---|---|---|
| 1 | Bank of America | $25,298,000,000 |
| 2 | Wells Fargo Bank | $18,413,000,000 |
| 3 | JPMorgan Chase Bank | $12,902,000,000 |
| 4 | PNC Bank | $11,497,840,000 |
| 5 | Truist Bank | $8,469,000,000 |
| 6 | U.S. Bank | $7,918,523,000 |
| 7 | Citibank | $5,417,000,000 |
| 8 | The Bank of New York Mellon | $4,808,000,000 |
| 9 | BMO Bank | $4,567,901,000 |
| 10 | KeyBank | $4,246,576,000 |
Source: US Bank Locations, December 31, 2025 ranking.
What these numbers mean
The amounts represent life insurance assets held by the banks, rather than insurance sold to customers or the total death benefits on those policies. Bank-owned life insurance, often called BOLI, can help recover employee benefit costs. Banks report the amount they could realize from the policies as an asset. FDIC guidance
What families and business owners can learn
Permanent life insurance can combine protection for loved ones with cash value that builds over time. Depending on the policy, that value may support future needs through withdrawals or policy loans. Business owners can also explore coverage that supports continuity when a key person dies.
Bank-owned policies and policies offered to individuals have different designs, costs, and requirements. Understanding those differences helps you choose coverage that fits your responsibilities, budget, and long-term goals.
Cash value generally grows tax-deferred, and death benefits are generally income-tax-free. How you access the cash value matters: loans accrue interest, and loans or withdrawals can reduce policy values and benefits. Surrendering a policy for more than your investment in the contract can create taxable income. IRS guidance
Explore the presentation
See the bank figures, how BOLI works, and the benefits families can explore in the nine-slide presentation.
Download the bank life insurance presentation (.pptx)
Connect the information to your own goals
Start with the responsibilities you want to provide for. The Quiet Number helps you estimate your family’s financial responsibilities; the policy comparison explains how term and whole life coverage differ.