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Life Insurance Industry Benefits and Claims, 2019-2023
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($000)

  2019 2020 2021 2022 2023
Death benefits  $78,350,496 $90,433,433 $100,198,058 $91,674,355 $89,001,219
Matured endowments, excluding annual pure endowments 445,591 497,040 528,475 606,576 514,691
Annuity benefits 85,421,529 88,848,211 95,110,207 92,884,072 101,303,264
Disability, accident and health benefits (1) 139,431,703 135,526,217 144,920,228 140,042,066 154,067,258
Coupons, pure endowment and similar benefits  4,327 4,297 5,828 3,489 3,736
Surrender benefits, withdrawals for life contracts  344,522,943 327,921,729 367,482,764 353,038,354 416,238,109
Group conversions 25,499 13,980 17,348 15,771 28,648
Interest and adjustments on deposit type contracts  10,455,887 10,236,865 9,286,939 12,799,475 18,517,180
Payments on supplementary contracts with life contingencies  2,709,843 2,710,766 2,584,854 2,596,714 2,821,214
Increase in aggregate reserve  112,692,702 100,110,444 80,017,664 118,849,532 49,370,649
Total benefits and claims $774,060,520 $756,302,980 $800,152,364 $812,510,404 $831,865,966

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

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

 

Archived Tables

LIFE INSURANCE INDUSTRY BENEFITS AND LOSSES, 2005-2009
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($000)

  2005 2006 2007 2008 2009
Death benefits $50,489,979 $53,205,823 $55,365,319 $57,867,372 $57,563,484
Matured endowments, excluding annual pure endowments 577,785 555,622 558,004 621,121 649,643
Annuity benefits 60,594,808 67,320,456 68,862,621 66,521,109 64,023,574
Disability, accident and health benefits (1) 74,235,894 91,168,248 101,548,206 113,685,324 120,218,042
Coupons, pure endowment, and similar benefits 117,909 20,647 12,070 18,655 17,027
Surrender benefits, withdrawals with life contracts 226,012,081 271,991,585 305,165,095 291,562,349 228,671,086
Group conversions 26,461 14,744 23,084 14,440 26,577
Interest and adjustments on deposit-type contracts 14,706,834 16,730,226 17,814,679 15,031,218 10,400,946
Payments on supplementary contracts with life contingencies 1,916,111 1,955,777 1,965,088 1,457,854 1,524,723
Increase in aggregate reserve 88,870,985 53,062,809 17,512,377 129,178,264 88,648,666
Total benefits and losses $517,548,846 $556,025,937 $568,826,543 $675,957,707 $571,743,766

(1) Does not include benefits paid by health insurance companies and property/casualty insurance companies.

Source: SNL Financial LC.

 
LIFE INSURANCE INDUSTRY BENEFITS AND LOSSES, 2006-2010
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  2006 2007 2008 2009 2010
Death benefits $53,199,699 $55,365,319 $57,867,372 $57,612,244 $56,524,186
Matured endowments, excluding annual pure endowments 555,622 558,004 621,121 650,024 679,246
Annuity benefits 67,320,456 68,862,621 66,521,109 64,061,981 66,781,657
Disability, accident and health benefits (1) 91,167,556 101,548,206 113,685,324 120,247,081 121,334,184
Coupons, pure endowment and similar benefits 20,647 12,070 18,655 17,027 16,264
Surrender benefits, withdrawals with life contracts 271,991,585 305,165,095 291,562,349 228,695,583 216,846,811
Group conversions 14,749 23,084 14,440 26,516 29,136
Interest and adjustments on deposit-type contracts 16,730,226 17,814,679 15,031,218 10,404,404 9,541,406
Payments on supplementary contracts with life contingencies 1,955,777 1,965,088 1,457,854 1,527,361 1,578,300
Increase in aggregate reserve 53,062,809 17,512,377 129,178,264 88,635,846 86,627,147
Total benefits and losses $556,019,126 $568,826,543 $675,957,707 $571,878,067 $559,958,335

(1) Does not include benefits paid by health insurance companies and property/casualty insurance companies.

Source: SNL Financial LC.

 
LIFE INSURANCE INDUSTRY BENEFITS AND LOSSES, 2007-2011
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  2007 2008 2009 2010 2011
Death benefits $55,365,319 $57,857,956 $57,609,758 $56,523,314 $60,628,971
Matured endowments, excluding annual pure endowments 558,004 621,018 649,867 679,242 767,092
Annuity benefits 68,862,621 66,517,129 64,061,436 66,781,657 70,873,443
Disability, accident and health benefits (1) 101,548,206 111,893,856 118,292,626 119,594,551 119,109,874
Coupons, pure endowment and similar benefits 12,070 18,655 17,027 16,264 16,075
Surrender benefits, withdrawals with life contracts 305,165,095 291,543,802 228,688,291 216,846,768 237,281,879
Group conversions 23,084 14,440 26,516 29,136 27,884
Interest and adjustments on deposit-type contracts 17,814,679 15,031,048 10,404,385 9,541,403 9,829,729
Payments on supplementary contracts with life contingencies 1,965,088 1,457,848 1,527,354 1,578,300 1,690,841
Increase in aggregate reserve 17,512,377 129,186,885 88,820,781 86,625,320 131,374,825
Total benefits and losses $568,826,543 $674,142,638 $570,098,041 $558,215,953 $631,600,613

(1) Does not include benefits paid by health insurance companies and property/casualty insurance companies.

Source: SNL Financial LC.

 
LIFE INSURANCE INDUSTRY BENEFITS AND CLAIMS, 2009-2013
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($000)

  2009 2010 2011 2012 2013
Death benefits $57,595,091 $56,507,462 $60,611,373 $61,701,439 $62,577,038
Matured endowments, excluding annual pure endowments 649,867 679,242 767,092 415,088 369,299
Annuity benefits 64,061,288 66,781,512 70,873,226 70,296,382 74,882,585
Disability, accident and health benefits (1) 106,246,906 106,119,469 105,151,994 107,765,827 111,016,901
Coupons, pure endowment and similar benefits 17,027 16,264 16,075 17,179 17,234
Surrender benefits, withdrawals for life contracts 228,688,291 216,846,768 237,281,879 245,728,482 248,768,774
Group conversions 26,516 29,136 27,884 27,891 52,893
Interest and adjustments on deposit-type contracts 10,404,385 9,541,403 9,829,729 7,321,437 8,197,554
Payments on supplementary contracts with life contingencies 1,527,354 1,578,300 1,690,841 1,809,677 1,985,919
Increase in aggregate reserve 88,782,277 86,623,252 131,335,226 76,437,745 78,012,695
Total benefits and claims $558,001,763 $544,723,271 $617,585,318 $571,521,145 $585,880,892

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

Source: SNL Financial LC.

 
LIFE INSURANCE INDUSTRY BENEFITS AND CLAIMS, 2010-2014
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($000)

  2010 2011 2012 2013 2014
Death benefits $56,507,462 $60,611,234 $61,701,263 $62,538,083 $65,961,289
Matured endowments, excluding
annual pure endowments		 679,242 767,092 415,088 368,210 350,488
Annuity benefits 66,781,512 70,873,226 70,296,382 74,882,585 69,583,732
Disability, accident and
health benefits (1)		 106,029,818 104,982,729 107,525,331 110,931,697 113,589,753
Coupons, pure endowment
and similar benefits		 16,264 16,075 17,179 17,222 18,992
Surrender benefits, withdrawals
for life contracts		 216,846,768 237,281,879 245,728,482 248,702,238 281,532,892
Group conversions 29,136 27,884 27,891 52,893 28,088
Interest and adjustments on
deposit type contracts		 9,541,403 9,829,729 7,321,437 8,195,240 7,749,827
Payments on supplementary
contracts with life contingencies		 1,578,300 1,690,841 1,809,677 1,985,919 2,237,030
Increase in aggregate reserve 86,623,332 131,335,283 76,438,193 78,024,348 100,982,446
Total benefits and claims $544,633,701 $617,415,972 $571,280,922 $585,698,435 $642,034,537

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

Source: SNL Financial LC.

 
Life Insurance Industry Benefits And Claims, 2011-2015
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($000)

  2011 2012 2013 2014 2015
Death benefits $60,609,925 $61,699,965 $62,537,003 $65,961,376 $72,321,581
Matured endowments, excluding
annual pure endowments		 767,092 415,088 368,210 350,488 397,554
Annuity benefits 70,873,226 70,296,382 74,882,585 69,583,732 73,535,200
Disability, accident and health benefits (1) 104,964,677 107,507,088 110,806,435 113,589,753 115,472,213
Coupons, pure endowment
and similar benefits		 16,075 17,179 17,222 18,992 18,237
Surrender benefits, withdrawals
for life contracts		 237,281,666 245,728,327 248,702,088 281,532,892 272,998,652
Group conversions 27,884 27,891 52,893 28,088 48,382
Interest and adjustments on
deposit type contracts		 9,829,729 7,321,437 8,195,240 7,749,827 8,009,313
Payments on supplementary
contracts with life contingencies		 1,690,841 1,809,677 1,985,919 2,237,030 2,120,777
Increase in aggregate reserve 131,334,694 76,439,405 78,027,832 100,983,247 72,537,076
Total benefits and claims $617,395,809 $571,262,436 $585,575,427 $642,035,425 $617,455,351

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

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

 
Life Insurance Industry Benefits And Claims, 2013-2017
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($000)

  2013 2014 2015 2016 2017
Death benefits $62,536,974 $65,961,305 $72,320,822 $73,996,171 $74,942,640
Matured endowments, excluding
annual pure endowments		 368,210 350,488 397,554 420,287 437,591
Annuity benefits 74,882,585 69,583,732 73,535,187 74,769,738 77,043,317
Disability, accident and
health benefits (1)		 110,789,199 113,572,825 115,468,861 120,056,048 126,787,233
Coupons, pure endowment
and similar benefits		 17,222 18,992 18,237 19,509 19,406
Surrender benefits, withdrawals
for life contracts		 248,702,088 281,532,892 272,998,652 265,095,216 308,928,847
Group conversions 52,893 28,088 48,382 30,872 25,719
Interest and adjustments on
deposit type contracts		 8,195,238 7,749,827 8,009,313 9,407,551 8,348,035
Payments on supplementary
contracts with life contingencies		 1,985,919 2,237,030 2,120,777 2,062,662 2,106,523
Increase in aggregate reserve 78,028,839 100,984,602 72,537,331 123,731,601 98,004,386
Total benefits and claims $585,558,162 $642,018,430 $617,451,481 $669,589,655 $696,643,698

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

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

 
Life/Annuity Insurance Benefits And Claims, 2014-2018
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($000)

  2014 2015 2016 2017 2018
Death benefits $65,960,933 $72,320,822 $73,996,171 $74,942,640 $77,430,727
Matured endowments, excluding annual
pure endowments		 350,488 397,554 420,287 437,591 381,587
Annuity benefits 69,583,732 73,535,187 74,769,738 77,043,317 78,392,309
Disability, accident and health benefits (1) 113,572,825 115,468,861 120,056,048 126,787,598 132,337,071
Coupons, pure endowment and
similar benefits		 18,992 18,237 19,509 19,406 11,216
Surrender benefits, withdrawals
for life contracts		 281,532,892 272,998,652 265,095,216 308,928,847 350,278,917
Group conversions 28,088 48,382 30,872 25,719 26,702
Interest and adjustments on deposit
type contracts		 7,749,827 8,009,313 9,407,551 8,348,035 9,539,457
Payments on supplementary contracts
with life contingencies		 2,237,030 2,120,777 2,062,662 2,106,523 2,152,431
Increase in aggregate reserve 100,984,602 72,537,331 123,731,601 98,004,458 133,817,431
Total benefits and claims $642,018,058 $617,451,481 $669,589,655 $696,644,134 $784,367,507

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

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

 
Life/Annuity Insurance Benefits And Claims, 2015-2019
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($000)

  2015 2016 2017 2018 2019
Death benefits  $72,320,822 $73,996,171 $74,942,626 $77,076,103 $76,053,733
Matured endowments, excluding
annual pure endowments		 397,554 420,287 437,591 381,587 423,780
Annuity benefits 73,535,187 74,769,738 77,043,317 78,392,309 82,348,408
Disability, accident and
health benefits (1)		 115,468,861 120,056,048 126,785,757 132,327,869 140,621,967
Coupons, pure endowment
and similar benefits 		 18,237 19,509 19,406 11,216 4,327
Surrender benefits, withdrawals
for life contracts 		 272,998,652 265,095,216 308,928,842 350,278,913 339,640,103
Group conversions 48,382 30,872 25,719 26,702 25,537
Interest and adjustments on
deposit type contracts 		 8,009,313 9,407,551 8,348,035 9,539,457 10,044,709
Payments on supplementary
contracts with life contingencies 		 2,120,777 2,062,662 2,106,523 2,152,431 2,413,542
Increase in aggregate reserve  72,537,331 123,731,601 98,004,358 133,818,788 110,528,530
Total benefits and claims $617,451,481 $669,589,655 $696,642,288 $784,005,035 $762,104,636

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

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

 
Life/Annuity Insurance Benefits And Claims, 2016-2020
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($000)

  2016 2017 2018 2019 2020
Death benefits $73,996,171 $74,942,626 $77,076,010 $76,038,700 $87,670,442
Matured endowments, excluding annual pure endowments 420,287 437,591 381,587 423,780 467,154
Annuity benefits 74,769,738 77,043,317 78,392,309 82,348,469 86,023,032
Disability, accident and health benefits (1) 120,056,048 126,785,757 131,440,728 140,558,797 137,585,722
Coupons, pure endowment and similar benefits 19,509 19,406 11,216 4,327 4,297
Surrender benefits, withdrawals for life contracts 265,095,216 308,928,842 350,278,913 339,640,132 323,350,563
Group conversions 30,872 25,719 26,702 25,499 13,980
Interest and adjustments on deposit type contracts 9,407,551 8,348,035 9,539,457 10,044,578 9,815,812
Payments on supplementary contracts with life contingencies 2,062,662 2,106,523 2,152,431 2,413,542 2,414,306
Increase in aggregate reserve 123,731,601 98,004,358 133,760,428 110,529,379 100,020,756
Total benefits and claims $669,589,655 $696,642,288 $783,059,441 $762,027,202 $747,366,061

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

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

 
Life/Annuity Insurance Benefits And Claims, 2017-2021
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($000)

  2017 2018 2019 2020 2021
Death benefits $74,942,626 $77,076,010 $76,038,700 $87,670,442 $97,191,646
Matured endowments, excluding annual
pure endowments		 437,591 381,587 423,780 467,154 497,918
Annuity benefits 77,043,317 78,392,309 82,348,469 86,023,032 92,164,218
Disability, accident and health benefits (1) 126,785,757 131,440,728 140,558,797 137,575,199 146,251,082
Coupons, pure endowment and similar benefits 19,406 11,216 4,327 4,297 5,828
Surrender benefits, withdrawals for life contracts 308,928,842 350,278,913 339,640,132 323,350,563 362,681,903
Group conversions 25,719 26,702 25,499 13,980 17,343
Interest and adjustments on deposit type contracts 8,348,035 9,539,457 10,044,578 9,815,812 8,832,771
Payments on supplementary contracts with
life contingencies		 2,106,523 2,152,431 2,413,542 2,414,306 2,288,589
Increase in aggregate reserve 98,004,358 133,760,428 110,529,379 100,020,755 80,922,192
Total benefits and claims $696,642,288 $783,059,441 $762,027,202 $747,355,538 $790,853,489

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

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

 
Life/Annuity Insurance Benefits And Claims, 2018-2022
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($000)

  2018 2019 2020 2021 2022
Death benefits  $77,076,010 $76,038,700 $87,669,214 $97,191,604 $88,790,998
Matured endowments, excluding annual pure endowments 381,587 423,780 467,154 497,918 575,731
Annuity benefits 78,392,309 82,348,469 86,023,032 92,164,218 89,702,169
Disability, accident and health benefits (1) 131,440,728 140,558,797 136,617,538 146,250,809 139,597,931
Coupons, pure endowment and similar benefits  11,216 4,327 4,297 5,828 3,489
Surrender benefits, withdrawals for life contracts  350,278,913 339,640,132 323,347,674 362,681,903 348,077,068
Group conversions 26,702 25,499 13,980 17,343 15,771
Interest and adjustments on deposit type contracts  9,539,457 10,044,578 9,815,812 8,832,771 12,353,781
Payments on supplementary contracts with life contingencies  2,152,431 2,413,542 2,414,306 2,288,589 2,306,488
Increase in aggregate reserve  133,760,428 110,529,379 98,016,838 80,920,839 116,247,248
Total benefits and claims $783,059,441 $762,027,202 $744,389,844 $790,851,820 $797,670,675

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

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.