America’s life insurance companies have been #MeetingTheMoment for our nation since the COVID-19 pandemic hit our shores.
From the earliest days of the crisis, life insurers have been providing invaluable support to their customers, their employees and their communities. Industry leaders are supporting government officials by listening to needs, organizing action, and showing compassion.
At the same time, life insurers have continued to infuse America’s economy with vital long-term investment capital. The insurance industry is one of the anchors of America’s economic strength, with $6.3 trillion invested in the U.S. economy.
These linchpin investments are especially crucial this year as the nation begins to recover from the devastating COVID-19-related economic downturn.
From coast-to-coast and in every state in between, life insurers reinforce our communities with investment capital.
Our resources provide businesses with the financial certainty they need to open their doors, hire employees and grow the economy.
They also provide farmers funding for their land, school districts with cash to build new schools, state and local governments with funds for transportation upgrades and hospitals with the resources to upgrade their health care facilities.
Some examples of these investments include:
- More than $900 million in bonds for education in Michigan.
- More than $856 million in bonds for transportation in Colorado.
- More than $232 million in multifamily and apartment mortgages in South Carolina.
- More than $206 million in retail mortgages in Oregon.
Our industry invests for the long term. Bonds purchased by life insurers have an average maturity of 18.1 years at the time of purchase. These stable, long-term investments support our guarantees that provide financial security to 90 million American families – guarantees that are especially valuable during times of crisis.
Life insurers exist to provide relief when times are tough. For more than 175 years the life insurance industry has been a source of strength and support to American families and the American economy. And as our nation begins the recovery from COVID-19, life insurers will be there every step of the way, #MeetingTheMoment.
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