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Life Insurance Industry Impact:
90 million American families rely on the life insurance industry for their financial protection and retirement. The life insurance industry generates approximately 2.4 million jobs in the U.S. and is made up of nearly 800 companies.
The life insurance industry has $6.5 trillion invested in the U.S. economy, making it one of the largest sources of investment capital in the nation. More than 39% of general account bonds held by life insurers had a maturity of more than 20 years at the time of purchase. 72% had a maturity of more than 10 years. Life insurers are also a major source of bond financing for American businesses, holding 21% of all U.S. corporate bonds. The industry also provides long-term capital to the commercial mortgage market, directly financing more than $471 billion, more than one-sixth, of U.S. commercial mortgages.
Our long-term investments make us a source of stability in the economy.
Sources: ACLI calculations based on National Association of Insurance Commissioners (NAIC) 2017 annual statement data; U.S. Bureau of Economic Analysis, 2017 data; U.S. Census Bureau, 2017 data; U.S. Bureau of Labor Statistics, 2017 data; U.S. Treasury Department, 2017 data; and 2016-2017 MacroMonitor Survey data.
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