Washington, D.C. (December 14, 2016) — Data from the American Council of Life Insurers’ (ACLI) 2016 Life Insurers Fact Book shows that consumers continue to turn to the life insurance industry for their financial and retirement security needs.

“The data within ACLI’s Life Insurers Fact Book tells the story of an industry that is helping families financially after the loss of a loved one, providing retirees with a personal pension from annuities and helping people age with dignity and comfort,” said ACLI President and CEO Dirk Kempthorne.

According to the Fact Book:

• Americans increased the total amount of life insurance protection they own in 2015 to $20.8 trillion, an all-time high. This includes $2.9 trillion purchased in 2015 alone;

• Consumers also secured their retirements in 2015 by contributing $352 billion to annuities, which are the only financial products in the marketplace that can provide a guaranteed stream of retirement income.

• The life insurance industry’s financial position strengthened. By the end of 2015 the industry’s assets totaled a record $6.5 trillion.

“Life insurers’ financial strength enables them to make promises that only this industry can. These promises are a key reason that 75 million U.S. families trust life insurers to provide them with financial and retirement peace of mind,” said Governor Kempthorne. “In 2015 alone, life insurers validated that trust by paying more than $500 billion in life insurance and annuity benefits.”

The Fact Book features statistics from 2015, the most recent data available, on life insurance coverage, annuity purchases as well as information on disability income insurance, long-term care insurance and reinsurance. The Fact Book also details the industry’s assets, expenditures, income and liabilities.

View the 2016 Life Insurers Fact Book.

The American Council of Life Insurers (ACLI) is a Washington, D.C.-based trade association with approximately 280 member companies operating in the United States and abroad. ACLI advocates in state, federal, and international forums for public policy that supports the industry marketplace and the 75 million American families that rely on life insurers’ products for financial and retirement security. ACLI members offer life insurance, annuities, retirement plans, long-term care and disability income insurance, and reinsurance, representing 95 percent of industry assets. Learn more at www.acli.com.