In the United States, the life and health insurance industry accounts for more than 55 percent of total premiums written. In 2014, for example, that means life and health insurance premiums were valued at well over $600 billion.
These premiums support many hundreds of life insurance firms across America, and those companies, in turn, provide long-term employment opportunities for millions of people. In the life and health insurance business alone, more than 838,000 individuals make their living. All together, the entire insurance industry supports about 2.5 million professionals.
Further, data from the United States Bureau of Economic Analysis suggests that activity from these companies adds hundreds of billions of dollars to the country’s gross domestic product. The industry continues to show robust health, according to a LIMRA U.S. Retail Individual Life Insurance Sales Survey. Results indicate that the industry grew for the sixth quarter in a row at the end of 2015.