Life Insurers Pay Record Death Benefits in 2021
COVID-19 seems to be pushing life insurance payouts to new heights.
Story at a glance
- Trade association the American Council of Life Insurers recently released its 2022 ACLI Life Insurers Fact Book.
- In the fact book, the group found life insurance companies paid $100 billion to the beneficiaries of policyholders who died in 2021.
- That number is the highest amount life insurance companies have paid out to policyholder beneficiaries in a single year.
Correction: This story was updated to reflect the correct number of people who have died in the U.S. during the pandemic.
Life insurance payouts reached a new high in 2021, according to a leading trade association.
New data released by the American Council of Life Insurers (ACLI) shows companies paid $100 billion to the beneficiaries of policyholders who died last year.
That number is the highest amount life insurance companies have paid out to policyholder beneficiaries in a single year, according to a release from the ACLI.