IMPACT FACTS: Annuity Payments
Dec 13, 2023
According to the ACLI 2023 Life Insurers Fact Book, the life insurance industry paid out $284.7 billion in annuity payments in 2020-2022.
- This was a record for a three-year period, and 12.5% higher than in 2017-2019.
- During the economic upheaval sparked by the COVID pandemic, older annuity holders who left the workforce could rely on these guaranteed payments to support their financial security.