What the Insurance Industry Means to the Economy

Insurance Companies…

  • Directly employ nearly 500,000 people contributing $34 billion of payroll.
  • In 2007, paid over $250 billion dollars in insurance claims.
  • Contribute over $15 billion in state premium taxes alone, in addition to the billions more paid in property, payroll, income, etc.

Consider what it would be like if there was no insurance. Not only would hundreds of billions of dollars never enter our economy, but commerce would grind to a halt. Banks would not be interested in loaning money for new homes, autos, or construction projects.

In absence of insurance, many people would lose their jobs, and even if they stayed employed they would have no health or life insurance, and heaven forbid an employee would get hurt on the job. We would all drive at our own risk and air travel would be out of the question.

If you would like more information on insurance services or simply have a question, contact First Savings Insurance at 215-257-5035 or visit us at www.FirstSavingsOnline.com

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