IMPACT FACTS: Life Insurance Benefits

Dec 22, 2023

According to the ACLI 2023 Life Insurers Fact Book, the life insurance industry paid out $282.3 billion in guaranteed life insurance benefits in 2020-22.

  • This was a record for a three-year period, and 20% higher than in 2017-2019.
  • During the COVID pandemic, the value and importance of life insurance was reaffirmed.

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.