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  • Life-Insurance Payouts Hit Record $100 Billion in 2021

    11/28/2022 9:36:43 AM PST · by ransomnote · 19 replies
    wsj.com ^ | Nov. 28, 2022 | Leslie Scism
    Covid-19 deaths likely fueled an increase in death-benefit paymentsU.S. life insurers paid a record $100 billion in 2021 in death benefits, fueled by another year of Covid-19 deaths, an industry trade group said.Payouts rose 11% in 2021 to $100.19 billion, most likely due to the pandemic, according to the American Council of Life Insurers. The increase was on the heels of a 15% year-over-year rise in 2020, when death-benefit payments totaled $90.43 billion.The ACLI compiles data from annual filings by insurers to state insurance departments. Given limitations in the filings, the group can’t break down causes of death, but it...