The life insurance industry provides good jobs and long-term investment capital that spurs economic growth.
Each day, life insurers pay out $153.4 million in life insurance and annuities to California families and businesses.
In California, the life insurance industry:
- Generates 238,300 jobs
- Invests $905 billion in California’s economy
- Provides $125 billion in mortgage loans on farms, residential, and commercial property
- Makes $682 billion of its investments in stocks and bonds that help finance business development and job creation.