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Coloradans Spend Big On Health, Accident Policies

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Coloradans spent more in 2007 on accident and health insurance premiums than they did on auto insurance, according to a new state report.

Out of $26 billion in insurance premiums collected from the state’s residents in 2007, 33% went to accident and health insurance, reports the state’s division of insurance.

The second largest premium volume was for annuities, with 16% of the total premium collected in the state. Automobile insurance tied for third place, along with deposit-type funds, such as guaranteed investment contracts, each with 10% of the states’ annual premiums.

Life insurance accounted for 7% of Colorado’s total premiums.