Aflac (NYSE: AFL) is holding up quite well in what has been a tough year for stocks. The insurer is up 20.8% this year, while the S&P 500 fell 16.6%.

This year was a positive one for many insurance companies that held up quite well in the face of inflation. Life insurers like Aflac saw fewer pandemic-related claims payouts and are positioned to take advantage of higher interest rates. Here's why Aflac is beating the 2022 bear market in stocks.

Aflac provides companies with employee benefits that go beyond traditional health insurance. The company covers millions across the U.S. and Japan through its life insurance and supplemental health insurance products. Some of its policies include dental and vision, cancer, and critical illness insurance, which pays benefits to those who have had life-altering events like a stroke or heart attack.

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Source Fool.com