During the COVID-19 pandemic, health and financial security concerns have been front and center. And America’s life insurance companies have stepped up.
From the earliest days of the crisis, life insurers have been providing invaluable support, paying out $2.1 billion every day, amplifying the $2.7 billion a day paid by Social Security.
To keep the long-term promises life insurers make to the 90 million American families who rely on our products, life insurers invest in stable, long-duration assets.
These investments support initiatives by private industry and governments from coast-to-coast. They include bonds that support education and health care. They also include mortgage loans for agriculture properties across the United States.
For example, life insurers have invested:
- Over $900 million in bonds for education in Michigan.
- Nearly $800 million in bonds for education in Oregon.
- Nearly $400 million in agricultural mortgage loans in Michigan.
- More than $63 million in bonds for education in three Ohio communities.
- More than $41 million in agricultural mortgages in Iowa.
- $34 million in bonds for hospitals in one Ohio county.
- $34 million in bonds for education in three Indiana communities.
- Nearly $10 million in bonds for education in Rhode Island.
The life insurance industry is #MeetingtheMoment for America with hundreds of millions of dollars each day invested in bonds, mortgages and other long-term investments.
These long-term investments supply needed capital that enhances growth, provides jobs and supports families in communities across the nation.
Our mortgage loans provide farmers big and small with the financial support and resources they need to operate, modernize and thrive. Our bond investments give communities fund to modernize their health care facilities. And they allow school districts to renovate, repair and construct facilities for America’s next generation of leaders.
Helping people take care of the things that matter most is life insurers’ most critical mission. Our insurance products provide people with peace of mind. And our investments provide farmers and governments with the financial assurance they need to serve citizens across the nation.
Life insurers are an enduring source of strength and support, consistently #MeetingTheMoment for America.