Insurance Part Greater Good Life

Life insurance is nothing if not personal. It provides money to widows, widowers, children and family members when a loved one dies, to help them continue financially.

However, we hear a lot about Capitol Hill about the life insurance industry does not serve the American public. Few of us, including those on Capitol Hill, to understand the real economic benefits of the industry of life insurance offers Americans. According to the American Council of Life Insurers (ACLI), there is almost $ 18.5 trillion in coverage of the death benefit in force. This means that $ 18500000000000, yes trillion, would be in hands of families, if something were to happen to policyholders. This sounds like a huge amount of protection that life insurance offers Americans to protect families and businesses, to create a legacy, to create money where none existed before.

These are promises to pay future benefits, but what is the life insurance industry by putting in today's economy? According ACLI, total payments made under life insurance and annuity contracts were $ 3650000000 in 2010. That is more than $ 30 billion in cash by coming months in the economy of the United States. I do not know how you do your calculations, but even in terms of government, that is a lot of money.

With a high number of unemployment apparent constant, on the people the industry employs? 2011 Fact Book of ACLI says there are 917 companies doing life insurance business in the United States, employing over 2.2 million people. In addition, employment in the industry has remained fairly constant over the last 10 years.

As an agent and advisor, I am proud to help protect the interests of my clients and proud that life insurance helps industry to an economy and stronger and stronger country.