According to information from the ACLI, Washington State insurance companies Invest a lot in the community and help protect those that need it most. Below are some statistics that you may be interested to learn.....
PROTECTING WASHINGTON RESIDENTS
- Washington residents have $490 billion in death benefit coverage.
- State residents own 2 million individual life insurance policies, with coverage averaging $140,000 per policyholder.
- Group life insurance coverage amounts to $210 billion.
- Individual life insurance coverage purchased in 2006 in Washington totaled $30 billion.
- $6 billion was paid to Washington residents in the form of death benefits, matured endowments, policy dividends, surrender values, and other payments in 2006.
- Annuity benefits paid in the state in 2006 totaled $2 billion.
INVESTMENTS IN WASHINGTON'S ECONOMY
- Life insurance companies invest approximately $90 billion of their assets in Washington's economy.
- About $70 billion of this investment is in stocks and bonds that help finance business development, job creation, and services in the state.
- Life insurers provide $10 billion in mortgage loans on farm, residential, and commercial properties, and own $1 billion in real property in Washington.
The American Council of Life Insurers (ACLI) is a Washington D.C.-based trade association backed by an industry with more than 200 years of experience protecting American families, workers, and businesses. ACLI represents 353 life insurance companies operating in the United States before federal and state legislators, regulators, and courts.
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