Powered by LevrNAICS 524113: Direct life insurance carriers
NAICS 524113 is the industry code for direct life insurance carriers. Use it on loan applications, tax forms and registrations. Explore financing for professional services and start your application when you are ready.
What 524113 covers
Direct life insurance carriers underwrite life insurance policies and annuities, and also may sell accident and health coverage.
Included in this code
- Life insurance carriers
- Annuity issuers
- Fraternal life insurers
- Burial insurance carriers
Not this code
- Insurance agencies: see 524210 Insurance agencies and brokerages
- Health insurance carriers: see 524114 Direct health and medical insurance carriers
- Reinsurers: see 524130 Reinsurance carriers
Businesses that use 524113
Financing for this trade
Life insurers support growth with statutory surplus, equity, surplus notes and reinsurance rather than ordinary business loans. Regulators and investors review risk based capital, ratings and the investment portfolio.
Apply for funding with AIIs 524113 the right code for a life insurance company?
Yes, if you underwrite and issue life insurance or annuities and carry the risk. Agencies selling those policies use 524210. Owners in this trade most often weigh it against 524114 (direct health and medical insurance carriers) and 524210 (insurance agencies and brokerages). The right choice is the activity that brings in the most revenue, used the same way on tax returns and loan applications.
What is the SBA size standard for 524113?
The SBA size standard for 524113 is $47M in average annual receipts. SBA averages total gross receipts over the last five completed fiscal years and adds in any affiliates under common control. A life insurance company at or below that figure counts as small for federal small business contracts and other SBA size determinations, although lending and passive investment businesses are generally not eligible for SBA 7(a) loans.
How do life insurers raise capital?
Insurers rely on statutory surplus, equity, surplus notes and reinsurance to support growth. Regulators set risk based capital requirements. Lenders and investors review ratings, capital ratios and investment portfolios. Expect lenders to ask for receivables and payables agings, recent bank statements and a debt schedule, which also help a broker match the request to the right lender quickly.
What does NAICS 524113 cover?
Direct life insurance carriers. Industry level code in NAICS 2022, under 52 Finance and insurance, 524 Insurance carriers and related activities, 5241 Insurance carriers, 52411 Direct life, health, and medical insurance carriers.
What financing do NAICS 524113 businesses use?
Equipment financing, working capital, SBA loans and invoice factoring are the products placed most for professional services businesses. Start an application and the AI matches the deal to lenders that fund this code.
Where do I put NAICS 524113?
On the SBA loan application, on federal Schedule C or Form 1120, on SAM.gov and state registrations, and on most lender applications. A business can report more than one code; use this one if it describes what produces most of your revenue.