Life-Insurance Payouts Hit Record $100 Billion in 2021

November 28, 2022 by Leslie Scism

U.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.

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Originally Posted at The Wall Street Journal on November 28, 2022 by Leslie Scism.