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INCOME REPLACEMENT |
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INCOME REPLACEMENT
The insurance industry safeguards the assets of its policyholders, helping them and their families get their lives back on track and continue to contribute to the economy after a disabling injury or the death of a family member. In addition, insurers' annuity products help retired workers maintain their standard of living.
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LIFE INSURANCE INDUSTRY BENEFIT PAYMENTS, 2003-2007
($ millions)
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2003 |
2004 |
2005 |
2006 |
2007 |
| Death benefits | $53,036.1 | $55,844.1 | $58,503.6 | $59,680.4 | $63,681.0 |
| Matured endowments | 571.3 | 564.7 | 606.0 | 626.9 | 661.2 |
| Annuity benefits | 65,423.4 | 70,413.5 | 75,678.5 | 75,704.0 | 78,615.4 |
| Surrender values and withdrawals for life contracts | 166,651.5 | 187,655.3 | 223,119.6 | 277,410.6 | 315,311.5 |
| Aggregate write-ins for miscellaneous direct claims and benefits paid | 1,214.1 | 944.6 | 706.7 | 618.4 | 667.4 |
| All other benefits, except accident and health | 14,629.8 | 15,758.4 | 11,487.9 | 12,810.0 | 14,504.4 |
| Total | $301,526.2 | $331,180.6 | $370,102.1 | $426,850.3 | $473,440.9 |
| Source: National Association of Insurance Commissioners (NAIC) Annual Statement Database, via Highline Data, LLC. Copyrighted information. No portion of this work may be copied or redistributed without the express written permission of Highline Data, LLC. |
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