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.

Retirement Security

Annuity Awareness, Life Insurance 101

Khari Cook

Khari Cook is Senior Analyst, Research at the American Council of Life Insurers (ACLI). He is primarily responsible for data analysis of life insurers’ quarterly and annual statutory filings, along with company product line and investment survey data.