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In 2024, the life/annuity insurance industry in the United States generated revenues of over *** trillion U.S. dollars. Revenues in this sector increased by about billion U.S. dollars between 2023 and 2024. A life annuity is an insurance product, which is commonly used to provide a guaranteed income in retirement that cannot be outlived. The annuitant pays into it periodically while they’re still working, or makes a lump sum purchase upon retirement to provide a reliable, usually monthly, source of income.Â
The life/annuity insurance industry provides three lines of insurance: annuities, accident and health, and life insurance. The value of direct premiums written of annuities have been consistently higher than those of the other two lines. MetLife Inc was the largest U.S. life insurer in terms of direct premiums written.
Over half of all life insurance sales are made by independent agents. The next most used distribution channel are affiliated, or captive, agents who account for approximately **** of all sales.
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* For commercial use only
Basic Account
Starter Account
The statistic on this page is a Premium Statistic and is included in this account.
Professional Account
1 All prices do not include sales tax. The account requires an annual contract and will renew after one year to the regular list price.
