The life insurance industry started in New York more than 250 years ago and has been protecting families and building communities ever since. September is Life Insurance Awareness Month and LICONY is pleased to join Life Happens and our member companies to help educate Americans about the importance of life insurance and help get the coverage they need financially protect themselves and their loved ones.
The resources below are designed to help you and your family learn more about life insurance and take the steps necessary to protect your financial future.
A Message from Danica Patrick
Did You Know That in New York?
Residents have $2.3 trillion in total life insurance coverage?
State residents own 8 million individual life insurance policies, with coverage averaging $198,000 per policyholder?
That $36 billion was paid to New York residents in the form of death benefits, matured endowments, policy dividends, surrender values, and other payments in 2015?
Or that....
Life insurance companies invest approximately $458 billion in New York's economy.
About $371 billion of this investment is in stocks and bonds that help finance business development, job creation, and services in the state.
Life insurers provide $38 billion in mortgage loans on farm, residential, and commercial properties, and own $3 billion in real estate in New York.
People Across the Country View Life Insurance as a Smart Investment
According to LIMRA, more Americans also view life insurance as a good vehicle to supplement retirement income. In 2011, only 38 percent of Americans said their life insurance would supplement their retirement income, compared with 52 percent today.
