Life and Annuity Products Pay for Themselves: Insurers
March 12, 2025 by Allison Bell
Individual annuities will save Social Security about $110 billion over the next 10 years, by helping contract owners delay when they start claiming Social Security retirement benefits, according to the American Council of Life Insurers.
Private disability insurance could save Social Security $8.2 billion, and private long-term care insurance could save Medicaid $14 billion.
The ACLI has put those estimates in a new analysis of how the current tax rules for its members’ products hold down federal spending.
Wink’s Moore on the Market: “Individual annuities will save Social Security about $110 billion over the next 10 years, by helping contract owners delay when they start claiming Social Security retirement benefits, according to the American Council of Life Insurers – ACLI.”
Excellent point.
“As members of Congress are looking for ways to save the tax cuts without leading to huge increases in federal debt, life insurers fear that the tax rules for life insurance, retirement savings products and related products and services could be targets.”
This could change the way that you do business.
There are some great statistics in this piece, which really drive home the value of these products, and explanations of how they provide relief from federal government spending.
-sjm
