LIFE INSURANCE IN INDIANA

With $3.9 trillion invested in the U.S. economy, life insurers are one of the largest sources of investment capital in the nation. How does it look for the state of Indiana?
(Source: American Council of Life Insurance - Washington, D.C.)

 

LIFE INSURERS IN INDIANA

  • 599 life insurers are licensed to do business in Indiana and 37 are domiciled in the state.

  • It is estimated that the industry employs 42,000 workers in Indiana Life insurers also generate additional jobs by purchasing goods and services from other businesses in the state.


INVESTMENTS IN INDIANA'S ECONOMY

  • Life insurance companies invest approximately $70 billion of their assets in Indiana's economy.

  • About $60 billion of this investment is in stocks and bonds that help finance business development, job creation, and services in the state.

  • Life insurers provide $4 billion in mortgage loans on farm, residential, and commercial properties, and own $488 million in real property in Indiana.


RESIDENTS PROTECTED

  • Indiana residents have $410 billion in death benefit coverage.

  • State residents own 4 million individual life insurance policies, with coverage averaging $61,800 per policyholder.

  • Group life insurance coverage amounts to $150 billion.

  • Individual life insurance coverage purchased during the year in Indiana totals $30 billion.


BENEFITS PAID

  • $6 billion was paid to Indiana residents in the form of death benefits, matured endowments, policy dividends, surrender values, and other payments.

  • Payments to annuitants in the state totaled $1 billion.