Life Insurance News Late June 23 2026: Globe Life Near 52-Week High, Pacific Life Launches Income Horizon, Tennessee Recovers $107M in Lost Benefits
The life insurance industry saw significant developments on June 23, 2026, with Globe Life Inc. trading near its 52-week high, Pacific Life launching a groundbreaking retirement income product, Tennessee recovering over $107 million in lost life insurance benefits, and AM Best affirming key carrier ratings. Here is your comprehensive roundup of the latest life insurance news and what it means for consumers shopping for coverage.
1. Globe Life Inc. (NYSE: GL) Trades Near 52-Week High — Middle-Income Life Insurance Demand Signals Strength
Globe Life Inc. (NYSE: GL) caught the attention of the investment community on June 23, 2026, with its bullish price action. The company’s shares moved 1.68% on the day to $174.94, trading just below its 52-week high of $176.14. The stock has moved 0.47% over the past week, with shares ranging between a 52-week low of $116.73 and the current near-record levels.
Globe Life delivers diverse life insurance and supplementary health coverage, alongside annuity products, targeting households in the lower-middle to middle-income brackets throughout the United States. The company’s operations are structured into four key segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. Its offerings encompass whole life, term life, and other life protection plans, as well as supplemental health benefits like Medicare supplements.
Approximately 131,770 shares were exchanged during the session, compared to an average 30-day volume of 584,620 shares. The stock’s near-52-week-high performance reflects growing investor confidence in the middle-income life insurance market segment, which has seen increased demand as consumers prioritize financial protection amid economic uncertainty.
Consumer takeaway: Globe Life’s stock performance signals that insurers serving middle-income households are seeing strong business fundamentals. For consumers, this means carriers in this market segment are financially healthy and well-positioned to pay claims — a critical factor when choosing a life insurance provider.
2. Pacific Life Launches Income Horizon™ CIT Series — Transforming Lifetime Income into an Asset Class
Pacific Life, a leading provider of innovative insurance and annuity solutions, announced the launch of Income Horizon™, a retirement income-focused collective investment trust (CIT) series designed to help defined contribution (DC) plan participants accumulate guaranteed lifetime income during their retirement savings journey. The series is enabled through Matrix Trust Company, which provides the CIT structure and serves as the discretionary trustee, and is a subsidiary of global technology leader Broadridge Financial Solutions (NYSE: BR).
Income Horizon is a groundbreaking deferred income solution that enables participants to build guaranteed lifetime income during their working years. By allocating a portion of ongoing contributions, participants can steadily build future payments over time, creating a clearer and more predictable path from savings to retirement. Participants also benefit from liquidity and flexibility as they accumulate savings, along with options designed to help protect their savings when they transition to lifetime income payments.
“As demand for retirement income solutions continues to grow within defined contribution plans, we are seeing plan sponsors and advisors look for more practical, scalable ways to help participants move from saving for retirement to generating income in retirement, ultimately turning retirement savings into lifelong paychecks,” said Karen Neeley, Head of the Institutional Retirement Solutions Group at Pacific Life.
“At the same time, collective investment trusts have become an increasingly preferred vehicle in DC plans,” said Christine Bass, Head of Defined Contribution Lifetime Income at Pacific Life. “The Income Horizon CIT series integrates these capabilities to help deliver guaranteed lifetime income through a structure designed for broad adoption within DC plans by making it easier for all providers within the defined contribution ecosystem to incorporate lifetime income as a distinct asset class within existing plan structures.”
Unlike approaches that rely on estimates of future income, Income Horizon uses clearly defined income units that represent a specific amount of guaranteed lifetime income. These units help provide participants with greater clarity around their accumulated income, empowering individuals to plan for retirement with enhanced precision. The CIT series is available through the National Securities Clearing Corporation (NSCC).
Consumer takeaway: This product represents a significant shift in how Americans can build guaranteed retirement income through their employer-sponsored 401(k) plans. If your employer offers a plan with Income Horizon, you could accumulate guaranteed lifetime income alongside your traditional investment savings — creating a pension-like benefit within your 401(k).
3. Tennessee Recovers Over $107 Million in Lost Life Insurance Benefits Through NAIC Policy Locator
The Tennessee Department of Commerce and Insurance (TDCI) announced that over $107 million in insurance policies and benefits was located in 2025 for Tennesseans through the NAIC’s Life Insurance Policy Locator Service — breaking the previous record of $87.67 million set in 2024. This represents a 23% year-over-year increase in recovered benefits.
Developed by the National Association of Insurance Commissioners (NAIC), the Life Insurance Policy Locator Service is a free service that enables beneficiaries, executors, or legal representatives of deceased people to locate life insurance policies and annuity contracts of their late family members, clients, or friends. From January 1, 2025, to December 31, 2025, the service located insurance policies with $107,757,080 in benefits for Tennesseans.
“I am encouraged to see that Tennesseans are claiming life insurance benefits as these policies are intended by their purchasers to help cover financial burdens such as medical bills, funeral costs, and other financial obligations that can occur after the loss of a loved one,” said TDCI Commissioner Carter Lawrence. “It is my hope that the Life Insurance Policy Locator Service eases the burden that family members and loved ones may face after the passing of a loved one, and I am grateful that the NAIC created this program.”
The service works by sending the policyholder’s information to all licensed life insurance companies across the United States. Companies then check their records and respond within 60 days if a match is found. The service does not track beneficiary information or claim payment after matches are reported.
Consumer takeaway: Millions of dollars in life insurance benefits go unclaimed every year because beneficiaries don’t know policies exist. The NAIC’s free Life Insurance Policy Locator Service is available nationwide — not just in Tennessee. If you’ve lost a loved one and suspect they had life insurance, you can submit a request through the NAIC website at no cost.
4. AM Best Affirms Everlake Life Group Ratings — Financial Strength Remains Solid
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” of Everlake Life Insurance Company and Everlake Assurance Company, collectively known as Everlake Life Group. Everlake Life is ultimately owned by Everlake Holdings, LP, and Blackstone Inc. is the ultimate parent company of the general partner of the vehicle.
The affirmation of these ratings signals that Everlake Life Group maintains a strong balance sheet and solid operating performance — key indicators that the company can meet its obligations to policyholders. AM Best’s Financial Strength Rating of A is the third-highest rating in its scale, indicating excellent ability to meet ongoing insurance obligations.
Consumer takeaway: When shopping for life insurance, always check the carrier’s AM Best financial strength rating. Carriers rated A or higher have excellent financial security and are well-positioned to pay claims for decades to come. You can search carrier ratings for free at AM Best’s rating search page.
5. Sammons Financial Group Issues $750 Million in Senior Unsecured Notes for Business Growth
AM Best has assigned a Long-Term Issue Credit Rating of “a-” to the $750 million 5.95% senior unsecured notes, due June 2036, issued by Sammons Financial Group, Inc. The outlook assigned to this Credit Rating is stable. Proceeds from the issuance will be used for general corporate purposes including business growth at SFG’s two insurance operating subsidiaries — Midland National Life Insurance Company and North American Company for Life and Health Insurance.
The $750 million capital raise demonstrates Sammons Financial Group’s commitment to strengthening its financial position and expanding its life insurance and annuity operations. The 10-year notes, priced at 5.95%, reflect current market interest rates and investor appetite for insurance company debt.
Consumer takeaway: Capital raises like this indicate that life insurers are investing in growth and strengthening their balance sheets. Sammons Financial Group’s subsidiaries — Midland National and North American Company — are well-known carriers in the term life and indexed universal life markets. This capital injection supports their long-term ability to serve policyholders.
Why This Matters to Policyholders
Today’s news highlights several important trends for anyone considering life insurance or managing existing policies:
- Carrier financial strength remains robust: AM Best rating affirmations for Everlake Life Group and the successful capital raise by Sammons Financial Group demonstrate that life insurers continue to maintain strong balance sheets, ensuring they can pay claims for decades.
- Innovation in retirement income: Pacific Life’s Income Horizon CIT represents a paradigm shift in how Americans can build guaranteed lifetime income through employer-sponsored retirement plans, bridging the gap between savings and lifetime paychecks.
- Unclaimed benefits are a widespread problem: Tennessee’s $107 million recovery illustrates that many families are missing out on life insurance benefits they’re entitled to. The NAIC’s free locator service is available in every state.
- Middle-income market is growing: Globe Life’s near-52-week-high stock performance signals strong demand for life insurance among middle-income households, reflecting increased consumer awareness about financial protection.
Top Life Insurance Carrier Financial Ratings — June 2026
| Carrier | AM Best Rating | Market Segment | Key Products |
|---|---|---|---|
| Pacific Life | A+ | Institutional & Retail | Term Life, IUL, Annuities, CIT Retirement Income |
| Everlake Life Group | A | Blackstone-backed | Life Insurance, Annuities |
| Sammons Financial Group (Midland National) | A+ | Independent Distribution | Term Life, IUL, Fixed Annuities |
| Globe Life | A | Middle-Income Households | Whole Life, Term Life, Supplemental Health |
| Mutual of Omaha | A+ | Broad Market | Whole Life, Term, Medicare Supplement |
Carrier Comparison: Retirement Income Product Offerings 2026
| Carrier | Retirement Income Product | Vehicle Type | Availability |
|---|---|---|---|
| Pacific Life | Income Horizon™ CIT | Collective Investment Trust | DC plans via NSCC |
| Prosperity Life Group | Prosperity PathWay™ Series | Indexed Annuity | Through independent agents |
| Symetra | Workforce Benefits Suite | Group Life & Annuity | Employer-sponsored via PlanSource |
| Allianz Life | FIAs & Variable Annuities | Individual Annuity | Independent agent channel |
| Globe Life | Annuity Products | Individual Annuity | Direct-to-consumer |
Steps to Protect Yourself When Buying Life Insurance in 2026
- Verify carrier financial strength: Before purchasing a policy, check the carrier’s AM Best rating. Look for carriers rated A- or higher to ensure long-term claims-paying ability.
- Search for lost policies: If you’ve lost a loved one, use the free NAIC Life Insurance Policy Locator Service to search for unclaimed policies. It’s available nationwide at no cost.
- Ask about retirement income options: If your employer offers a 401(k) plan, ask whether guaranteed lifetime income solutions like Pacific Life’s Income Horizon are available.
- Compare quotes from multiple carriers: Rates can vary significantly between carriers for the same coverage. Get quotes from at least 3-5 carriers before making a decision.
- Inform your beneficiaries: Make sure your beneficiaries know about your life insurance policies and where to find the documentation. Millions in benefits go unclaimed every year simply because beneficiaries don’t know policies exist.
Key Industry Developments — June 23, 2026 Summary
- Globe Life Inc. trades at $174.94, near its 52-week high of $176.14, reflecting strong middle-income life insurance demand
- Pacific Life launches Income Horizon™ CIT series, bringing guaranteed lifetime income into defined contribution retirement plans
- Tennessee recovers record $107.7 million in lost life insurance benefits through NAIC’s free Policy Locator Service
- AM Best affirms Everlake Life Group’s A rating, backed by Blackstone ownership
- Sammons Financial Group raises $750 million in senior unsecured notes for business growth at Midland National and North American Company
Related Resources
- AM Best Insurance Rating Search — Verify carrier financial strength ratings
- NAIC Consumer Resources — Life Insurance Policy Locator Service and policyholder rights information
- IRS Publication 525 — Tax treatment of life insurance proceeds and annuity income
- Term Life Insurance Rates by Age — 2026 Guide
- Best Life Insurance Companies of 2026 — Consumer Rankings
- Burial Insurance: What You Need to Know in 2026
- No Medical Exam Life Insurance — 2026 Buying Guide
Expert Video: Life Insurance Explained for 2026
Watch this comprehensive guide to understand the differences between term life, whole life, and universal life insurance to make an informed decision about your coverage needs.
Frequently Asked Questions
How does the NAIC Life Insurance Policy Locator Service work?
The NAIC Life Insurance Policy Locator Service is a free online tool that sends a deceased person’s information to all licensed life insurance companies in the United States. Companies check their records and respond within 60 days if they find a matching policy. In Tennessee alone, the service recovered over $107 million in 2025 — a 23% increase from 2024. The service is available to beneficiaries, executors, or legal representatives of deceased individuals.
What is Pacific Life’s Income Horizon CIT series?
Income Horizon is a collective investment trust (CIT) series that allows defined contribution plan participants to build guaranteed lifetime income during their working years. By allocating a portion of ongoing contributions, participants accumulate income units that represent specific amounts of guaranteed lifetime income. The product is trusteed by Matrix Trust Company, a Broadridge subsidiary, and is available through the National Securities Clearing Corporation (NSCC).
Is Globe Life a good life insurance company for middle-income families?
Globe Life holds an AM Best Financial Strength Rating of A (Excellent), indicating strong ability to meet ongoing insurance obligations. The company specializes in serving lower-middle to middle-income households with whole life, term life, and supplemental health products. Its near-52-week-high stock price reflects strong business fundamentals. As with any carrier, compare quotes from multiple insurers to find the best rates for your specific needs.
What does AM Best’s affirmation of Everlake Life Group mean for policyholders?
AM Best’s affirmation of Everlake Life Group’s A (Excellent) Financial Strength Rating means the company maintains a strong balance sheet and solid operating performance. Backed by Blackstone Inc. ownership, the rating indicates excellent ability to meet ongoing insurance obligations to policyholders. This is the third-highest rating in AM Best’s scale.
How can I check if a deceased relative had life insurance?
You can use the free NAIC Life Insurance Policy Locator Service by submitting an online request form. The NAIC will send the policyholder’s information to all licensed life insurance companies across the United States. If a company finds a matching policy, they will respond directly to you within 60 days if you are a designated beneficiary or legally authorized representative. You should also review the deceased’s financial records for premium payment records.
Stay Informed and Protected
The life insurance industry is evolving rapidly, with new products, stronger carrier balance sheets, and growing consumer awareness. Whether you’re shopping for your first policy, planning for retirement income, or searching for lost benefits from a loved one, staying informed about industry developments helps you make better financial decisions. Compare life insurance quotes from top-rated carriers today to find the coverage that fits your family’s needs and budget.
