Fifth Largest Life Insurance Company in the US Paid Out 163% More for Deaths of Working People Ages 18-64 in 2021 – Total Claims/Benefits Up $6 Billion

Five months after breaking the story of the CEO of One America insurance company saying deaths among working people ages 18-64 were up 40% in the third quarter of 2021, I can report that a much larger life insurance company, Lincoln National, reported a 163% increase in death benefits paid out under its group life insurance policies in 2021.

Here are the precise numbers for Group Death Benefits taken from Lincoln National’s annual statements for the three years:

2019: $500,888,808

2020: $547,940,260

2021: $1,445,350,949

https://crossroadsreport.substack.com/p/breaking-fifth-largest-life-insurance?s=r

Published by markskidmore

Mark Skidmore is Professor of Economics at Michigan State University where he holds the Morris Chair in State and Local Government Finance and Policy. His research focuses on topics in public finance, regional economics, and the economics of natural disasters. Mark created the Lighthouse Economics website and blog to share economic research and information relevant for navigating tumultuous times.

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