Guaranteed To Be There

Network and Connection Technology Concept of Skyscrapers, City of Dallas, Texas, USA.

Predicting the future can often seem fruitless. Just ask anyone who entered a March Madness pool.

Still, some things are guaranteed to happen. Coaches will always get angry at referees. NCAA tournament games will always be interrupted by too many commercial breaks. And life insurers will always provide unwavering support to American families and our nation’s economy.

For nearly two centuries, life insurers have been delivering financial protection to Americans. 90 million American families turn to life insurers and financial professionals to provide them with financial certainty.

Life insurers provide much-needed support and financial security after the loss of a loved one. They help savers plan and prepare for retirement, including through annuities, which can provide guaranteed income for life just like a traditional pension.

Life insurers provide solutions so workers won’t have to choose between their paycheck and caring for themselves or their loved ones after an illness or injury. They offer benefits for businesses that allow them to attract and retain their employees. They also help ensure that small family-owned firms can be passed down from one generation to the next.

At the same time, life insurers take the premium payments from their customers and prudently reinvest them in long-term assets. These investments ensure insurers can keep their promises to their customers, whenever and wherever called upon, even decades from now.

Life insurers invest $8.0 trillion in America’s economy, fueling economic activity in all 50 states. The industry is the largest purchaser of U.S. corporate bonds ($3.6 trillion). Nearly 75% of life insurer-purchased bonds have a maturity of 10 or more years at the time of purchase, providing patient long-term capital that helps businesses create jobs, innovate and grow.

The pace of change these days can often feel dizzying. And it’s harder than ever to foresee what will happen next. But one thing will never change: the commitment of life insurers. Public policy must be designed so that the life insurance industry can continue effectively and efficiently providing invaluable benefits to American families and the American economy.

Doug Lathrop

Doug Lathrop is Vice President for Tax Advocacy at the ACLI. Prior to joining ACLI in 2024, he spent 16 years at New York Life as their federal tax lobbyist. He spent six years on Capitol Hill working for two senior Republican members of the Ways & Means Committee. He has a Ph.D. in political science from the University of Massachusetts.