In Your State

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.
In 2010, life insurers provided payments in excess of $557 billion, helping families guarantee financial security now and in retirement.

Alabama residents have $350 billion in death benefit coverage.
State residents own 6 million individual life insurance policies, with coverage averaging $43,000 per policyholder.
Group life insurance coverage amounts to $110 billion.
Individual life insurance coverage purchased in 2009 in Alabama totaled $30 billion.
$4 billion was paid to Alabama residents in the form of death benefits, matured endowments, policy dividends, surrender values, and other payments in 2009.
Annuity benefits paid in the state in 2009 totaled $1 billion.

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.

Life insurance companies invest approximately $45 billion of their assets in Alabama's economy.
About $40 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 $220 million in real property in Alabama.
In 2009, life insurers purchased over $54 million of Alabama-related Build America Bonds, or 24 percent of these bonds issued. These bonds include those issued by The University of Alabama and Troy University.