Across America
- The life insurance industry generates approximately 2.5 million jobs in the U.S., including direct employees, those who sell life insurance products, and non-insurance jobs supported by the industry.
- Life insurers provide benefit payments in excess of $300 billion each year, helping families guarantee long-term financial security now and in retirement.
Alabama
PROTECTING ALABAMA’S FAMILIES
- Alabama residents have $340 billion in death benefit coverage.
- State residents own 6 million individual life insurance policies, with coverage averaging $41,000 per policyholder.
- Group life insurance coverage amounts to $100 billion.
- 4 billion was paid to Alabama residents in the form of death benefits, matured endowments, policy dividends, surrender values, and other payments in 2008.
- Annuity benefits paid in the state in 2008 totaled $740 million.
PROVIDING JOBS IN ALABAMA
- The life insurance industry employs approximately 9,000 people in Alabama.
- In addition, the life insurance industry supports approximately 12,000 non-insurance jobs in Alabama.
INVESTING IN ALABAMA'S ECONOMY
- Life insurance companies invest approximately $40 billion of their assets in Alabama’s economy.
- About $35 billion of this investment is in stocks and bonds that help finance business development, job creation, and services in the state.
- Life insurers provide $2 billion in mortgage loans on farm, residential, and commercial properties, and own $280 million in real property in Alabama.
