As the year comes to an end, life insurers continue to demonstrate the ability to deliver on their promises to consumers.

New data from the American Council of Life Insurers (ACLI) show that life insurance companies across the country paid record highs for a single year in 2021, paying $100 billion to beneficiaries of life insurance policies and $97.7 billion to annuity holders.

In Texas, life insurers paid out an average of $114.7 million in life insurance benefits and annuities to families and businesses each day.

Additionally, life insurance companies continue to help safeguard families by offering important products that protect Texas residents including:

Retirement savings and personal pensions to provide critical income in retirement
Long-term care and disability income insurance to offer income when work is no longer possible
Supplemental benefits to fill gaps and cover what health plans don’t
Paid family leave insurance to provide income during time off to care for family

Life insurers were able to deliver on their promises while remaining financially stable in 2021 by maintaining twice the required amount of capital reserves, despite record payouts to consumers.

Even in the most uncertain times, life insurance companies offer sources of stability and peace of mind. That’s why Texans continue to turn to life insurers to safeguard their families, protect their businesses, and to secure their financial futures