Summary: Investing in insurance stocks allows you to tap into a relatively stable sector with consistent revenue streams and potential for long-term growth. This guide will showcase the five best insurance stocks to buy in 2024 with a regulated online brokerage like eToro.
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What are insurance stocks?
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A particularly attractive group of stocks for conservative investors, insurance stocks tend to perform well even during economic downturns. As insurance companies offer products and services often required by law and sought after during adverse events, their stocks can thrive even in negative market environments.
To further maximize the sector’s profitability, many companies have decided to infuse their offer with technological advances, from online and mobile phone platforms to streamlining and automating various services. The innovative mindset might make insurance stocks even more lucrative to investors.
Top five insurance stocks to buy in 2024
Despite individual stocks’ value tending to be unstable, several factors proved the worth of the candidates in this article.
Here are the insurance stocks to buy in 2024:
- Aviva (LSE: AV);
- MetLife (NYSE: MET);
- Allstate (NYSE: ALL);
- Prudential Financial (NYSE: PRU);
- China Life (HKEX: 2628).
To securely buy insurance stocks, we recommend you consider eToro:
- Commission-free stock and ETF trading;
- 2,000+ stocks from 17 exchanges;
- Fractional shares available;
- User-friendly platform.
Highly Rated Stock Trading & Investing Platform
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Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
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0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
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eToro USA is registered with FINRA for securities trading.
1. Aviva
Aviva plc (LSE: AV) is the UK’s largest insurance company and a leading life and pensions provider. Headquartered in London, UK, it offers a broad range of products and services, from life insurance over asset management to pensions.
As a prominent player in the sector and one of the best insurance stocks to buy, Aviva successfully provides its service to approximately 18 million clients across the UK, Ireland, and Canada. Coupled with their core values of sustainability and innovation, Aviva is poised to remain a valuable asset well into the future.
Aviva is listed on the London Stock Exchange under the stock ticker AV and is a constituent of the FTSE 100 index.
Note
AV stock price today
Your capital is at risk.
2. MetLife
MetLife, Inc. (NYSE: MET) is among the world’s largest and oldest insurance and financial services companies. Headquartered in New York, it offers many insurance and financial products and services, such as life insurance, employee benefits, annuities, and asset management.
MetLife operates on a global scope, occupying leading market positions in 60+ countries, including the U.S., Japan, the Pacific, South America, Europe, and the Middle East, and serving over 90 million customers.
The company is a constituent of the S&P 100 and ranks as #54 on the Forbes 500 list, securing MET’s position among the best insurance stocks to buy.
Note
MET stock price today
Your capital is at risk.
3. Allstate
Allstate (NYSE: ALL) is a prominent American insurance company providing a sizeable range of insurance products and financial services, including auto, home, and life insurance, in addition to investment and retirement services.
Founded in 1931 and headquartered in Northbrook, Illinois, Allstate has become a household name and a recognizable insurance provider in the U.S. Its extensive network of agents and offices in many states, along with a strong brand, ensures its enviable status in the American insurance sector.
With the company’s status of an S&P 500 component, ALL remains secure among the best insurance stocks to buy.
Note
ALL stock price today
Your capital is at risk.
4. Prudential Financial
Prudential Financial (NYSE: PRU) is a renowned insurance and financial services company with almost a century and a half long tradition. Based in Newark, New Jersey, Prudential Financial was founded in 1875. Today, it offers a plethora of services like life insurance, investment management, annuities, and retirement planning.
The company has established a reputation for stability and personalized service to help individuals and institutions achieve financial objectives. In 2019, Prudential Financial earned the status of largest insurance provider in the United States, with over $815 billion in total assets.
It is an S&P 500 constituent as of December 2023.
Note
PRU stock price today
Your capital is at risk.
5. China Life
China Life Insurance Company Limited (HKEX:2628) is among the world’s largest and most prominent life insurance companies and the largest insurance company in China by market share. Founded in 1949 and based in Beijing, it offers various insurance and financial products, like annuities, life insurance, and health insurance.
Being the dominant insurance company in the vast market of China, China Life has an undisputed position and strong presence that gives access to an enormous customer base and, therefore, asset portfolio. It ranked 54th on the Forbes Global 500 list at the end of 2023.
China Life’s stock trades on the Hong Kong Stock Exchange (HKEX) under the ticker symbol 2628 and on the Shanghai Stock Exchange (SSE) under the symbol 601628. It is a Hang Seng Index component, legitimizing its claim as one of the best insurance stocks to buy.
Note
2628.HK stock price today
Your capital is at risk.
How to buy insurance stocks: step-by-step
To invest in these insurance and financial companies using an online brokerage, simply perform the following steps:
Step 1: Choose a broker
Before you actually buy insurance stocks, you need to secure access to the stock market. The best type of service for this is a regulated online investing service.
To securely buy insurance stocks, we recommend you consider eToro:
- Commission-free stock and ETF trading;
- 2,000+ stocks from 17 exchanges;
- Fractional shares available;
- User-friendly platform.
Highly Rated Stock Trading & Investing Platform
-
Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
-
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
-
Copy top-performing traders in real time, automatically.
-
eToro USA is registered with FINRA for securities trading.
Step 2: Open and fund your account
Once you opt for an investing platform, you have to create and verify your investing profile. When successfully authorized, you should transfer funds to your account to buy insurance stocks in the next step.
Frequently used available funding methods include bank transfers, debit or credit cards, and financial transaction services like PayPal.
Step 3: Decide how much you want to in some of the best insurance stocks
Carefully considering your budget limits is crucial to the investing process. After all, aiming above your financial capabilities can land you into extreme levels of debt. To avoid this, make sure you have performed the following:
- Paid off all high-interest debt, such as credit cards and personal loans;
- Created an emergency fund that covers at least three months of daily life expenses.
Remember
Step 4: Place your order and buy insurance stocks
The next step is to place an order and buy the shares in insurance companies:
- Step 1: Log into your investing service and find the ticker symbol of the insurance company you want to invest in;
- Step 2: Input the sum or the number of shares you wish to purchase;
- Step 3: Select the order type (market order or limit order) and place it;
- Step 4: Confirm the trade order.
Step 5: Monitor and manage your investment
As long as you keep the insurance stocks in your portfolio, you should monitor and manage your active investment. Staying in the loop about the fiscal performance of the insurance stocks you bought, along with the general insurance sector trends, increases the success chances of your investment.
Common mistakes to avoid when buying insurance stocks
Make sure to avoid these common investing mistakes:
- Lack of research: Research the insurance stocks in detail, along with the market state of the sector, before investing;
- Lack of strategy: Set your goals before you spend any money;
- Staking everything on one asset: Always diversify your portfolio;
- Falling prey to scams: Avoid illegal platforms and suspicious deals.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs about best insurance stocks to buy in 2024
What are insurance stocks?
Insurance stocks are shares in publicly traded insurance companies, like life and health insurance, property and casualty insurance, and specialty insurance providers.
Is it safe to invest in insurance stocks?
While insurance stocks tend to be more stable than other individual stock investments, this by no means eliminates the risk from the equation. Do your research before you invest and follow the guidelines provided in this guide for increased chances of landing a profit.
How do I invest in insurance stocks?
Investing in insurance stocks is simple; you must register an account with an online investing service like eToro, deposit the funds in your account, and buy the shares.
What are the best insurance stocks to buy in 2024?
Some top insurance stocks to buy in 2024 include Aviva, MetLife, Allstate, Prudential Financial, and China Life.
Do insurance stocks pay dividends?
All entries in this list are dividend stocks as of December 2024.
Highly Rated Stock Trading & Investing Platform
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Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
-
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
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Copy top-performing traders in real time, automatically.
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eToro USA is registered with FINRA for securities trading.
