2007 American Council of Life Insurers Fact Book

Contents

1 Overview 1
Organizational Structure 1
Stock and Mutual Life Insurers 1
Other Life Insurance Providers 1
Employment 2
Foreign Ownership 2

2 Assets 7
Bond Holdings and Acquisitions 7
Types of Bonds 8
Characteristics of Bonds 8
Stock Holdings and Acquisitions 9
Mortgages 9
Real Estate 10
Policy Loans 10
Miscellaneous Assets 10
Foreign-Controlled Assets 10

3 Liabilities 23
Policy Reserves 23
Deposit-Type Contracts 24
Asset Fluctuation Reserves 24
Other Liabilities 24
Surplus Funds and Capital Stock 24
Capital Ratios 25

4 Income 33
Premium Income 33
Investment Income and Rate of Return 34
Net Gain From Operations 34

5 Expenditures 45
Benefit Payments 45
From Life Insurance Policies 45
From Annuity Contracts 46
From Health Insurance Policies 46
Operating Expenses 46
Taxes 46
Investment Expenses 47

6 Reinsurance 55
Allocating Risk 55
Managing Risk 56
Underwriting Str
ength 56
Product Flexibility 56
Financial Positioning 56
Types of Reinsurance 57
Proportional Reinsurance 57
Non-Proportional Reinsurance 58

7 Life Insurance 61
Individual Life Insurance 61
Types of Policies 62
Characteristics of Individual Policies 62
Group Life Insurance 63
Credit Life Insurance 63
Policy Claims Resisted or Compromised 64

8 Annuities 71
Group and Individual Annuities 71
Supplementary Contracts, Annuities
Certain, and Other Annuities 72

9 Disability Income
and Long-Term Care Insurance 77
Disability Income Insurance 77
Individual Disability Income Insurance 77
Group Disability Income Insurance 78
Long-Term Care Insurance 79
Individual Long-T
erm Care Insurance 79
Group Long-Term Care Coverage 80
Accelerated Benefits 80

10 In the States 81

11 Industry Rankings 93

12 Mortality and Life Expectancy 119

APPENDIX 129
A Glossary of Insurance Related Terms 131
B Historic Dates 147
C Life Insurance Related Organizations 157
D State Insurance Officials 165

非常非常感谢~~~

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