The amount of life insurance purchased from United States legal reserve companies in 1943 is close to $13,000,000,000 of new paid-for coverage which does not include revivals, increases and dividend additions. This volume of new production is 5 per cent above the 1942 volume. At the present time life insurance policies are owned by 68,000,000 Americans and their insurance coverage is $139,000,000,000, which is about 7 per cent greater than at the end of 1942. Including both policyholders and beneficiaries it is safe to assume there are 100,000,000 individuals sharing some sort of life insurance protection from United States legal reserve companies.
Payments and credits to life insurance policyholders and beneficiaries by all United States legal reserve companies during the year reached an estimated total of $2,400,000,000 by Dec. 31. Of this amount, approximately $1,100,000,000, or 46 per cent was disbursed to beneficiaries of deceased policyholders in death claims, and about $1,300,000,000 to living policyholders as matured endowments, annuities, surrender values, dividends and disability benefits. Annual volume of such disbursements has averaged more than $2,500,000,000 over the past ten years.
The life insurance companies of the United States at the end of 1943 had estimated assets of $37,675,000,000. During 1943 their holdings of Federal Government securities increased about $3,000,000,000. At the present time the proportion of the assets of the United States companies in U. S. Federal bonds is 33 per cent as against 21.4 per cent two years ago when the... [continues]
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