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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/HEALTH INSURANCE INDUSTRY PAYOUTS, 2001-2005
($ millions)
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2001 |
2002 |
2003 |
2004 |
2005 |
| Death benefits | $46,517.0 | $47,088.1 | $49,511.7 | $49,358.3 | $50,547.4 |
| Annuity benefits | 53,449.6 | 52,589.9 | 53,733.5 | 57,968.6 | 60,638.0 |
| Matured endowments | 549.2 | 532.4 | 510.3 | 551.1 | 577.8 |
| Disability benefits and benefits under accident and health contracts | 77,811.0 | 80,220.6 | 82,264.9 | 88,894.7 | 79,920.4 |
| Coupons, guaranteed annual pure endowments and similar benefits | 12.0 | 11.4 | 14.4 | 227.9 | 117.9 |
| Surrender benefits and withdrawals for life contracts | 181,995.1 | 174,641.7 | 173,160.0 | 195,003.9 | 225,841.6 |
| Payment on supplementary contracts with life contingencies | 1,747.6 | 2,360.2 | 2,218.6 | 1,894.9 | 1,856.7 |
| Total | 362,081.5 | 357,444.5 | 361,413.4 | 393,899.5 | 419,499.8 |
| 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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