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ÐÓ°ÉÔ­´´

Triple-I ÐÓ°ÉÔ­´´ Facts

Key Facts

  • Life insurance benefits and claims in 2024 totaled $965.6 billion, including life insurance death benefits, annuity benefits, disability benefits and other payouts, up from $831.8 billion in 2023.
  • The largest 2024 payout category was surrender benefits and early terminations or cash withdrawals from life insurance contracts for $484.2 billion.

Life ÐÓ°ÉÔ­´´ Industry Benefits and Claims, 2020-2024

($000)

Ìý 2020 2021 2022 2023 2024
Death benefits $90,433,433 $100,198,058 $91,678,955 $89,019,927 $88,529,685
Matured endowments, excluding annual pure endowments 497,040 528,475 606,576 515,427 464,011
Annuity benefits 88,848,211 95,110,207 92,884,072 101,306,627 106,922,388
Disability, accident and health benefits (1) 135,526,217 144,920,228 138,635,241 153,979,211 175,648,709
Coupons, pure endowment and similar benefits 4,297 5,828 3,489 3,736 3,970
Surrender benefits, withdrawals for life contracts 327,921,729 367,482,764 353,038,354 416,237,299 484,214,202
Group conversions 13,980 17,348 15,709 28,648 45,460
Interest and adjustments on deposit type contracts 10,236,865 9,286,939 12,798,835 18,517,180 22,175,315
Payments on supplementary contracts with life contingencies 2,710,766 2,584,854 2,596,714 2,820,162 2,882,837
Increase in aggregate reserve 100,110,444 80,017,664 118,854,267 49,386,307 84,735,699
Total benefits and claims $756,302,980 $800,152,364 $811,112,210 $831,814,523 $965,622,277

(1) Excludes benefits paid by health insurance companies and property/casualty insurance companies.

Source: NAIC data, sourced from S&P Global Market Intelligence, ÐÓ°ÉÔ­´´ Information Institute.

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