Strengthening The Land Of Lincoln
“The Land of Lincoln” is a land of contrasts – tall buildings in Chicago and farmland as far as the eyes can see feeding so much of America and the world.
Not surprisingly, life insurers find Illinois fertile grounds, investing $258 billion in the state.
Investments by life insurers can be large, ranging from office space for 353 properties in and around The Windy City, averaging $21 million, to a bond valued at $47,800 issued by Taylorville. Common sectors of industry investments in Illinois include:
- Education: Life insurers have made $1.3 billion in education loans, with investments in the Will County School District, the University of Chicago, and Southern Illinois University representing just a few of the ways the industry helps the state prepare its students for the future.
- Apartments/Multifamily: Nearly $6 billion in mortgage financing has helped families and individuals in Decatur, Peoria, Urbana, and Chicago obtain mortgages and call Illinois “home.”
- Agriculture: Life insurers have provided $1.1 billion for loans in and around Springfield, Taylorville, Peoria and more communities, helping keep Illinois a farming leader in the United States.
- Industrial: Life insurers have invested $3 billion in mortgage loans, primarily in Chicago and surrounding areas, helping maintain the state as a stalwart of American industry.
- Infrastructure: Life insurers have invested $3.4 billion in roads, airports, and public transit, as well as utilities. They have helped water systems in Chicago, Springfield and more provide families and businesses with clean water.
- Office Space: Life insurers are partners in Chicago’s business and commercial life, providing loans for office space exceeding $7.4 billion. Life insurers help in other parts of the state as well including $32 million in mortgages in Springfield and $6 million in Rockford.
The money life insurers invest in these important sectors comes largely from policyholder premiums. Fidelity Life Association, an innovator in providing technology-enabled life insurance solutions, has been helping everyday families in our home state achieve financial security and peace of mind since 1896. And while these policyholders are safeguarding their families’ futures, they are also strengthening the development and redevelopment of our towns, cities and states.
Working together, insurers and policyholders are helping ensure The Land of Lincoln thrives today and in the years to come.
(James Hohmann is CEO of Fidelity Life Association)