Life and Health Insurers Mobilize After Terrorist Attacks National Underwriter (Life and Health Financial Services Edition) (09/17/01) Vol. 104, No. 37 p.32; Bell, Allison
While there have been questions surrounding the fact that some life insurance policies deny coverage for deaths resulting from terrorism, the majority of those exclusions only apply to acts of terrorism committed outside the United States, according to a spokesman for the ACLI. The ACLI reports that U.S. life insurers collect some $120 billion in life premiums per year and pay about $40 billion in life benefits. Although the Sept. 11 attacks on New York and Washington could effect both annuity benefits and payments, "Our industry is financially strong and prepared to make good on our promises to our policyholders," the ACLI says.