Term Life Insurance Market to Witness Massive Growth by 2028 : Allianz, AXA, Berkshire Hathaway: Term Life Insurance Market Analysis & Forecast for Next 5 Years
New Jersey, NJ -- (SBWIRE) -- 09/22/2022 -- A new intelligence report released by HTF MI with title "Term Life Insurance Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Term Life Insurance offers energetic visions to conclude market size, opportunities, growth pattern, and competitive surroundings. The research is derived through primary and secondary sourced data and includes both qualitative and quantitative detailing. Some of the key players profiled in the study are Allianz, AXA, Generali, Ping An Insurance, China Life Insurance, Prudential PLC, Munich Re, Zurich Insurance, Nippon Life Insurance, Japan Post Holdings, Berkshire Hathaway, Metlife, Manulife Financial, CPIC, Chubb, AIG, Aviva, Allstate, Swiss RE, Prudential Financial, Travelers, AIA, Aflac & Legal and General.
The global term life insurance market reached a value of nearly $778.8 billion in 2019, having grown at a compound annual growth rate (CAGR) of 6.87% since 2015, and is expected to grow at a CAGR of 9.67% to nearly $1,126.6 billion by 2023. Also, the market is expected to grow to $1,353.0 billion in 2025 at a CAGR of 9.59% and to $2,217.9 billion in 2030 at a CAGR of 10.39%.
What's keeping Allianz, AXA, Generali, Ping An Insurance, China Life Insurance, Prudential PLC, Munich Re, Zurich Insurance, Nippon Life Insurance, Japan Post Holdings, Berkshire Hathaway, Metlife, Manulife Financial, CPIC, Chubb, AIG, Aviva, Allstate, Swiss RE, Prudential Financial, Travelers, AIA, Aflac & Legal and General Ahead in the Market? Benchmark yourself with the strategic moves and findings recently released by HTF MI
Market Overview of Term Life Insurance
If you are involved in the Term Life Insurance industry or aim to be, then this study is vital to keep your market knowledge up-to-date. The Market is segmented by Applications [Agency, Brokers, Bancassurance & Digital and Direct Channels], Types / Coverage [Renewable Term Life Insurance & Return Premium Term life insurance] and major players. To get deep dive in market, geographically 22+ jurisdictions or countries were summarized in the study from Asia Pacific, MEA, South America, Europe and North America.
Geographically, the global version of report has following country inclusion:
- North America [United States, Canada and Mexico]
- Europe [Germany, the UK, France, Italy, Netherlands, Belgium, Denmark, Spain, Sweden, and Rest of Europe]
- Asia-Pacific [China, Japan, South Korea, India, Australia, Indonesia and Others]
- South America [Brazil, Argentina, Colombia and Rest of South America]
- Middle East and Africa (South Africa, Turkey, Israel, GCC Countries and Rest of Africa)
This study mainly helps understand which market segments or Country; Insurance carriers, Aggregators should focus in years to come to channelize their efforts and investments in Term Life Insurance to maximize growth and profitability. The growth in 2020 is noticeably slower and mature markets in North America and Western Europe requires "heavy lifting" to address such trends due to the dynamic macroeconomic and regulatory environment.
The distribution channels in the insurance industry, is always of great importance, reflecting the "push" nature of Term Life Insurance offering in the industry. The distribution model has continued to evolve as insurers try to better connect with their customers. Over the years, the Term Life Insurance industry has seen a clear dominance of face-to face selling (agents and brokers). However, with the increasing penetration of the Internet and customers preferring convenience, the digital mode of sales is becoming increasingly popular in Term Life Insurance.
Furthermore, the years considered for the study are as follows:
Historical year – 2016-2020
Base year – 2020
Forecast period – 2021 to 2026
Chapter One: Term Life Insurance Market Industry Overview
1.1 Term Life Insurance Industry
1.1.2 Products of Major Companies
1.2 Term Life Insurance Market Segment
1.2.1 Industry Chain
1.2.2 Consumer Behaviour & Distribution Channels
Chapter Two: Term Life Insurance Market Demand
2.1 Segment Overview
Agency, Brokers, Bancassurance & Digital and Direct Channels
2.2 Term Life Insurance Market Size by Application/End Users (2016-2020)
2.3 Term Life Insurance Market Forecast by Application/End Users (2021-2026)
Chapter Three: Term Life Insurance Market by Type
3.1 By Type, Renewable Term Life Insurance & Return Premium Term life insurance
3.2 Term Life Insurance Market Size by Type (2016-2020)
3.3 Term Life Insurance Market Forecast by Type (2021-2026)
Chapter Four: Term Life Insurance Market: by Region/Country
4.1 Term Life Insurance Market by Regions
4.2 Term Life Insurance Market Revenue & share by Region
4.3 North America
4.5 Asia Pacific
4.6 South America
4.7 Middle East & Africa
Chapter Five: Player Analysis
5.1 Market Share Analysis by Players (2019-2021E)
5.2 Market Concentration Rate by Regions
5.3 Company Profiles
Thanks for reading Term Life Insurance Industry research publication; you can also get individual chapter wise section or region wise report version like USA, China, Southeast Asia, LATAM, APAC etc.
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