As on date of publishing, this report will capture the impact assessment of COVID-19 on this market and the same will be considered in our market forecast model. Clients purchasing this report between April and June 2020 will be getting a ‘free’ updated market data excel sheet between July and September 2020 accounting for the impact of COVID-19 on the market in the current year 2020 and forecast.

Global life insurance market is expected to grow at a formidable CAGR during the forecast period. Growing awareness pertaining to the benefits offered by various insurance plans is one of the key factors due to which, the market is anticipated to rev up during the forecast years. Moreover, rising prevalence of chronic diseases such as diabetes, respirator disorders, cardiovascular diseases, cancer, among others, is positively impacting the growth of market. In addition to this, encouragement from both public and private sector companies through their attractive insurance plans which provide additional benefits, is expected to bolster the growth of market over the next few years.

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, and region. On the basis of insurance providers, the market is segmented into public and private life insurers. Out of these, the public sector dominated the market until 2019 and is further expected to hold dominant share in the market owing to the presence of high number of public insurance providers at a global level coupled with the fact that people trust public insurance providers more than private ones. In terms of premium type, the market is fragmented into regular premium and single premium. Among them, the regular premium segment is estimated to dominate the market during the next five years, which can be attributed to ease of payment in quarterly or yearly instalments depending on the insurance plan. On the other hand, single premium is favourable, when the total payable amount is significantly less.  

Major players operating in the global life insurance market include 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. The market players are adopting some competitive strategies such as these insurance providers are now focusing on providing specialized life insurance policies for establishing their dominance in the market and increasing their customer bases.

Years considered for this report:

Historical Years: 2015-2018

Base Year: 2019

Estimated Year: 2020

Forecast Period: 2021–2025

Objective of the Study:

  • To analyze and estimate the market size of global life insurance market from 2015 to 2018.
  • To estimate and forecast the market size of global life insurance market from 2019 to 2025 and growth rate until 2025.
  • To classify and forecast global life insurance market based on type of insurance providers, premium type, plan, type of coverage, term of coverage, premium range, mode of purchase, end user, company and regional distribution.
  • To identify dominant region or segment in the global life insurance market.
  • To identify drivers and challenges for global life insurance market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global life insurance market.
  • To conduct pricing analysis for global life insurance market.
  • To identify and analyze the profile of leading players operating in global life insurance market.
  • To identify key sustainable strategies adopted by market players in global life insurance market.


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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service providers and presence of all major players across the globe.

TechSci Research calculated the market size of global life insurance market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these service types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.


Key Target Audience:

  • Life Insurance service providers, vendors and other stakeholders
  • Government bodies such as regulating authorities and policy makers
  • Organizations, forums and alliances related to life insurance
  • Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, vendors, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, global life insurance market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Global Life Insurance Market, By Type of Insurance Providers:
    • Public Sector
    • Private Players
  • Global Life Insurance Market, By Premium Type:
    • Regular Premium
    • Single Premium
  • Global Life Insurance Market, By Plan:
    • Endowment
    • Annuity
    • Money Back
    • Unit Linked
  • Global Life Insurance Market, By Type of Coverage:
    • Individual
    • Group
  • Global Life Insurance Market, By Term of Coverage:
    • Term Life
    • Whole life
  • Global Life Insurance Market, By Premium Range:
    • Up to USD500
    • 501-2000
    • 2001-5000
    • 5001-10000
    • Above 10000
  • Global Life Insurance Market, By Mode of Purchase:
    • Direct Company Representatives
    • Online Portal
    • Insurance Agent
    • Others
  • Global Life Insurance Market, By End User:
    • BFSI
    • Consumer Good and Retail
    • Government and Public Sectors
    • Healthcare and Life Science
    • Manufacturing
    • Media and Entertainment
    • Telecommunication and ITES
    • Others
  • Global Life Insurance Market, By Region:
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • United Kingdom
      • Italy
      • Spain
    • Asia-Pacific
      • China
      • Japan
      • India
      • South Korea
      • Australia
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE
    • South America
      • Brazil
      • Argentina
      • Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global life insurance market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
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1.    Product Overview

2.    Research Methodology

3.    Impact of COVID-19 on Global Life Insurance Market

4.    Executive Summary

5.    Voice of Customer

6.    Global Life Insurance Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Type of Insurance Providers (Public Sector Vs Private Players)

6.2.2.     By Premium Type (Regular Premium, Single Premium)

6.2.3.     By Plan (Endowment, Annuity, Money Back, Unit Linked)

6.2.4.     By Type of Coverage (Individual, Group)

6.2.5.     By Term of Coverage (Term Life, Whole life)

6.2.6.     By Premium Range (Up to USD500, 501-2000, 2001-5000, 5001-10000, Above 10000)

6.2.7.     By Mode of Purchase (Direct Company Representatives, Online Portal, Insurance Agent, Others)

6.2.8.     By End User (Minors, Adults, Senior Citizens)

6.2.9.     By Company

6.2.10.  By Region

6.3.  Market Attractiveness Index

7.    Asia-Pacific Life Insurance Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Type of Insurance Providers

7.2.2.     By Premium Type

7.2.3.     By Plan

7.2.4.     By Type of Coverage

7.2.5.     By Term of Coverage

7.2.6.     By Premium Range

7.2.7.     By Mode of Purchase

7.2.8.     By End User

7.2.9.     By Country

7.3.  Asia-Pacific: Country Analysis

7.3.1.     China Life Insurance Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Type of Insurance Providers

7.3.1.2.2.             By Plan

7.3.1.2.3.             By Type of Coverage

7.3.1.2.4.             By Premium Range

7.3.2.     India Life Insurance Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Type of Insurance Providers

7.3.2.2.2.             By Plan

7.3.2.2.3.             By Type of Coverage

7.3.2.2.4.             By Premium Range

7.3.3.     Australia Life Insurance Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Type of Insurance Providers

7.3.3.2.2.             By Plan

7.3.3.2.3.             By Type of Coverage

7.3.3.2.4.             By Premium Range

7.3.4.     Japan Life Insurance Market Outlook

7.3.4.1.         Market Size & Forecast

7.3.4.1.1.             By Value

7.3.4.2.         Market Share & Forecast

7.3.4.2.1.             By Type of Insurance Providers

7.3.4.2.2.             By Plan

7.3.4.2.3.             By Type of Coverage

7.3.4.2.4.             By Premium Range

7.3.5.     South Korea Life Insurance Market Outlook

7.3.5.1.         Market Size & Forecast

7.3.5.1.1.             By Value

7.3.5.2.         Market Share & Forecast

7.3.5.2.1.             By Type of Insurance Providers

7.3.5.2.2.             By Plan

7.3.5.2.3.             By Type of Coverage

7.3.5.2.4.             By Premium Range

8.    Europe Life Insurance Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Type of Insurance Providers

8.2.2.     By Premium Type

8.2.3.     By Plan

8.2.4.     By Type of Coverage

8.2.5.     By Term of Coverage

8.2.6.     By Premium Range

8.2.7.     By Mode of Purchase

8.2.8.     By End User

8.2.9.     By Country

8.3.  Europe: Country Analysis

8.3.1.     France Life Insurance Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Type of Insurance Providers

8.3.1.2.2.             By Plan

8.3.1.2.3.             By Type of Coverage

8.3.1.2.4.             By Premium Range

8.3.2.     Germany Life Insurance Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Type of Insurance Providers

8.3.2.2.2.             By Plan

8.3.2.2.3.             By Type of Coverage

8.3.2.2.4.             By Premium Range

8.3.3.     United Kingdom Life Insurance Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Type of Insurance Providers

8.3.3.2.2.             By Plan

8.3.3.2.3.             By Type of Coverage

8.3.3.2.4.             By Premium Range

8.3.4.     Italy Life Insurance Market Outlook

8.3.4.1.         Market Size & Forecast

8.3.4.1.1.             By Value

8.3.4.2.         Market Share & Forecast

8.3.4.2.1.             By Type of Insurance Providers

8.3.4.2.2.             By Plan

8.3.4.2.3.             By Type of Coverage

8.3.4.2.4.             By Premium Range

8.3.5.     Spain Life Insurance Market Outlook

8.3.5.1.         Market Size & Forecast

8.3.5.1.1.             By Value

8.3.5.2.         Market Share & Forecast

8.3.5.2.1.             By Type of Insurance Providers

8.3.5.2.2.             By Plan

8.3.5.2.3.             By Type of Coverage

8.3.5.2.4.             By Premium Range

9.    North America Life Insurance Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Type of Insurance Providers

9.2.2.     By Premium Type

9.2.3.     By Plan

9.2.4.     By Type of Coverage

9.2.5.     By Term of Coverage

9.2.6.     By Premium Range

9.2.7.     By Mode of Purchase

9.2.8.     By End User

9.2.9.     By Country

9.3.  North America: Country Analysis

9.3.1.     United States Life Insurance Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Type of Insurance Providers

9.3.1.2.2.             By Plan

9.3.1.2.3.             By Type of Coverage

9.3.1.2.4.             By Premium Range

9.3.2.     Mexico Life Insurance Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Type of Insurance Providers

9.3.2.2.2.             By Plan

9.3.2.2.3.             By Type of Coverage

9.3.2.2.4.             By Premium Range

9.3.3.     Canada Life Insurance Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Type of Insurance Providers

9.3.3.2.2.             By Plan

9.3.3.2.3.             By Type of Coverage

9.3.3.2.4.             By Premium Range

10.  South America Life Insurance Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value

10.2.              Market Share & Forecast

10.2.1.  By Type of Insurance Providers

10.2.2.  By Premium Type

10.2.3.  By Plan

10.2.4.  By Type of Coverage

10.2.5.  By Term of Coverage

10.2.6.  By Premium Range

10.2.7.  By Mode of Purchase

10.2.8.  By End User

10.2.9.  By Country

10.3.              South America: Country Analysis

10.3.1.  Brazil Life Insurance Market Outlook