Report overview
Life insurance is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder). Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policy holder typically pays a premium, either regularly or as one lump sum. Other expenses, such as funeral expenses, can also be included in the benefits.
This report aims to provide a comprehensive presentation of the global market for Life Insurance, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Life Insurance. This report contains market size and forecasts of Life Insurance in global, including the following market information:
Global Life Insurance Market Revenue, 2018-2023, 2024-2029, ($ millions)
Global top five companies in 2022 (%)
The global Life Insurance market was valued at US$ million in 2022 and is projected to reach US$ million by 2029, at a CAGR of % during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Term assurance provides life insurance coverage for a specified term. The policy does not accumulate cash value. Term insurance is significantly less expensive than an equivalent permanent policy but will become higher with age. Policy holders can save to provide for increased term premiums or decrease insurance needs (by paying off debts or saving to provide for survivor needs). Permanent life insurance is life insurance that covers the remaining lifetime of the insured. A permanent insurance policy accumulates a cash value up to its date of maturation. The owner can access the money in the cash value by withdrawing money, borrowing the cash value, or surrendering the policy and receiving the surrender value.
We surveyed the Life Insurance companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Life Insurance Market, by Type, 2018-2023, 2024-2029 ($ millions)
Global Life Insurance Market Segment Percentages, by Type, 2022 (%)
Term Insurance
Permanent Insurance
Global Life Insurance Market, by Application, 2018-2023, 2024-2029 ($ millions)
Global Life Insurance Market Segment Percentages, by Application, 2022 (%)
Children
Adults
Senior Citizens
Global Life Insurance Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions)
Global Life Insurance Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Life Insurance revenues in global market, 2018-2023 (estimated), ($ millions)
Key companies Life Insurance revenues share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
ACE Insurance
Achmea
AEGON
AIA Group
AlfaStrakhovanie
Allianz
Anadolu Hayat Emeklilik
Assicurazioni Generali
Assurant
Aviva
AXA
Banamex
Banco Bilbao Vizcaya Argentaria
Banco Bradesco
BNP Paribas Cardif
China Life Insurance Company
China Pacific Insurance
CNP Assurances
Credit Agricole
DZ Bank
Garanti Emeklilik ve Hayat
Great Eastern Holdings
Grupo Nacional Provincial
Hanwha Life Insurance Company
HDFC Standard Life Insurance Company
ICICI Prudential Life Insurance Company
Outline of Major Chapters:
Chapter 1: Introduces the definition of Life Insurance, market overview.
Chapter 2: Global Life Insurance market size in revenue.
Chapter 3: Detailed analysis of Life Insurance company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Life Insurance in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: The main points and conclusions of the report.
