Life Insurance Market to Grow at a Formidable CAGR until 2025
Growing awareness about life
insurance policies to drive the growth of global life insurance market
According
to TechSci Research report, “Global Life Insurance Market By Type of Insurance Providers (Public Sector Vs Private
Players), By Premium Type (Regular Premium, Single Premium), By Plan
(Endowment, Annuity, Money Back, Unit Linked), By Type of Coverage (Individual,
Group), By Term of Coverage (Term
Life, Whole life), By Premium Range (Up to USD500, 501-2000, 2001-5000,
5001-10000, Above 10000), By Mode of Purchase (Direct Company Representatives,
Online Portal, Insurance Agent, Others), By End User (Minors, Adults, Senior
Citizens), By Region, Forecast & Opportunities, 2025”, the global life insurance market is expected to grow at a formidable
rate during the forecast period on account of growing number of government life
insurance schemes, worldwide. In addition to this, number of accidents happening
across the globe are increasing at an alarming rate, which in turn drives the
need to have a life insurance plan, thereby fueling the market growth. Besides,
rising middle-class population is further expected to drive the market growth. A
life insurance plan can pay off debts as a death benefit, which alternatively, could
have been a burden on the family, such as credit cards, mortgage, car loans,
and others. This is further expected to drive the market growth across the
globe. However, life insurance is a complex product with multiple features,
providing potential benefits to an individual but taking its full advantage
without any professional assistance can be challenging, which might hamper the
market growth through a certain extent. Also, stringent regulations and longer
duration of claim reimbursement might further restrict the market growth. Moreover,
lack of awareness and adoption of life insurance policies especially among underdeveloped
economies might act as major impediment to the growth of global life insurance market.
Browse
XX market data Tables and XX Figures spread through XX Pages and an in-depth TOC on "Global
Life Insurance Market"
https://www.techsciresearch.com/report/life-insurance-market/4795.html
The global life insurance market is segmented based on type of insurance
providers, premium type, plan, type of coverage, term of coverage, premium
range, mode of purchase, end user, company, company and region. Based on term
of coverage, the market can be split into term life, whole life. Out of these,
the lifetime segment is expected to dominate the market since most of the live
insurance providers offer lifetime coverage in their life insurance plans.
Based on end users, the market can be fragmented into minors, adults and senior
citizens. Among these, the adults segment is expected to register high growth rate,
which is attributable to increasing susceptibility to sedentary lifestyle
associated diseases and other chronic diseases Additionally, the segment is
expected to witness significant demand on account of the peace of mind offered by
being aware of the fact that the policy holder’s beneficiaries will be provided
with financial support after the passing away of policy holder.
AIA Group Ltd, American International Group (AIG), Allianz SE, AXA,
Berkshire Hathaway, China Life Insurance, ING Group, Ping An of China,
Prudential Financial, MetLife and others are some of the leading players
operating in global life insurance market. The companies operating in the
market are coming with new attractive policies to attract more customers in
order to boost their market share.
Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=4795
Customers can also request for
10% free customization on this report.
“North America is expected to dominate global
life insurance market during the forecast period, owing to the availability of
favourable life insurance infrastructural landscape in the region.
Additionally, growing geriatric population and prevalence of chronic diseases
on account of sedentary lifestyle of the population is further expected to fuel
the market growth. Furthermore, presence of large market players in the region is
expected to create lucrative opportunities for the market growth.”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Global Life Insurance Market By Type of Insurance
Providers (Public Sector Vs Private Players), By Premium Type (Regular Premium,
Single Premium), By Plan (Endowment, Annuity, Money Back, Unit Linked), By Type
of Coverage (Individual, Group), By Term of Coverage (Term Life, Whole life),
By Premium Range (Up to USD500, 501-2000, 2001-5000, 5001-10000, Above 10000),
By Mode of Purchase (Direct Company Representatives, Online Portal, Insurance
Agent, Others), By End User (Minors, Adults, Senior Citizens), By Region,
Forecast & Opportunities, 2025”, has evaluated
the future growth potential of global life insurance market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global life insurance market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]