IMPACT FACTS: Keeping Promises, Fueling Growth Through Life Insurers’ Investments
Dec 12, 2025
IMPACT FACTS: Demand for guaranteed retirement income fuels record annuity payouts
Dec 3, 2025
According to the ACLI 2025 Life Insurers Fact Book, the life insurance industry paid out a record $110 billion in annuity payments in 2024.
- The annuity payments were 49% higher than in 2014.
- This growth reflects the rising demand for guaranteed lifetime income as more Americans reach retirement age. An average of 4.1 million Americans will turn 65 every year between 2020 and 2030.
- At the same time, the U.S. Congress recognized the importance of annuities in retirement planning, passing legislation in 2019 and 2022 that made it easier for workers to access guaranteed lifetime income as part of retirement savings plans.
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.
