Next, we will present what types of establishments the NAICS code 524113 is intended for and how it is classified. This specific code is essential to understanding the activities and services offered by this particular category within the industrial classification system.
Description NAICS Code 524113 – Direct Life Insurance Carriers
This industry comprises establishments primarily engaged in initially underwriting (i.e., assuming the risk and assigning premiums) annuities and life insurance policies, disability income insurance policies, and accidental death and dismemberment insurance policies.
NAICS code 524113 includes:
- Accidental death and dismemberment insurance carriers, direct
- Accidental death and dismemberment insurance underwriting, direct
- Annuities underwriting
- Cooperative life insurance organizations
- Credit life insurance carriers, direct
- Disability insurance carriers, direct
- Disability insurance underwriting, direct
- Fraternal life insurance organizations
- Insurance carriers, disability, direct
- Insurance carriers, life, direct
- Insurance underwriting, disability, direct
- Insurance underwriting, life, direct
- Life insurance carriers, direct
- Savings bank life insurance carriers, direct
NAICS Code 524113 does not include the following references:
- Establishments primarily engaged in reinsuring life insurance policies, disability income insurance policies, and accidental death and dismemberment insurance policies are classified in Industry 524130, Reinsurance Carriers; and
- Legal entities (i.e., funds, plans, and/or programs) organized to provide insurance and employee benefits exclusively for the sponsor, firm, or its employees or members are classified in Industry Group 5251, Insurance and Employee Benefit Funds.
