U.S. Life Insurance and Annuity Benefits Reach Record Highs

[Insurance Forums Staff]

Insurance Forums Staff submitted a new article

U.S. Life Insurance and Annuity Benefits Reach Record Highs

New ACLI Life Insurers Fact Book reveals nearly $200 billion paid out to families and retirees (in 2021).

Continue reading the Original Article.

 

[DHK]

Easy to set records in a high inflation marketplace.

 

[ATM]

I'd think the opposite. The inflation we are seeing is in the things people need to survive: food, shelter, health care and not in income as much. Standards of living are going down which would lead me to believe that the demand for insurance would drop as well.

But maybe the lasting impression that the pandemic caused or simply changing consumer sentiment is leading people to be more conservative.

 

[Allen Trent]

majority of this is death claims, not loans/withdrawals. Makes sense as Covid in 2021 & other health issues definitely caused carriers to have more customers pass away causing more life insurance claim payments & Annuity claim payments