Life Insurance Market

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.

Life Insurance Market 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. Life Insurance Market 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.