CLHIA-ACCAP

Newfoundland & Labrador Facts & Figures - 2015 Edition

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6 uninsured contracts for which life and health insurers provide administrative services only. Of the total payments under insured and uninsured plans, the key components were disability income, 20%; medical/hospital coverage (including drug expense), 56%; and dental care, 17%. Dividend payments to participating policyholders totalled $38 million during 2014 — 83% under life insurance policies, 17% under health insurance plans and nothing under annuity contracts Investments of Life and Health Insurance Providers The savings of Canadians through life and health insurers are channelled into productive investments, and the earnings from these investments help keep down the cost of life and health insurance and guarantee future benefits for policyholders and beneficiaries. The accumulated savings, supporting long-term liabilities, also provide a source of stable capital for Canada's economic growth. Life and health insurance providers invest their assets in all regions of the country, wherever there are opportunities for capital investment. At the end of 2014, an estimated $12.7 billion of life and health insurers' investments were attributed to Newfoundland and Labrador, reflecting the excellent investment opportunities in the province. Of these investments, almost $11.9 billion came from the funds held on behalf of Canadian policyholders. The remainder, $850 million, was invested on behalf of foreign policyholders by companies of the United States registered to do business in Canada, as well as Canadian companies doing business outside Canada.

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