Disability Insurance Market By Insurance Type (Employer Supplied Disability Insurance, Individual Disability Insurance, High Limit Disability Insurance, Business Overhead Expense Disability Insurance, Others), By End User (Government, Enterprise, Individual), By Coverage Type (Short Term Disability Insurance, Long Term Disability Insurance): Global Opportunity Analysis and Industry Forecast, 2021-2031
Disability insurance, often called DI or disability income insurance, or income protection, is a form of insurance that insures the beneficiary's earned income against the risk that a disability creates a barrier for completion of core work functions. In addition, those whose employers do not provide benefits, and self-employed individuals who desire disability coverage, may purchase policies themselves. Moreover, premiums and available benefits for individual coverage vary considerably between companies, occupations, states, and countries. In general, premiums are higher for policies that provide more monthly benefits, offer benefits for longer periods of time, and start payments of benefits more quickly following a disability claim.
Rising awareness about the benefits of disability insurance policies and tax benefits under various sections of the income tax act is boosting the growth of the global disability insurance market. In addition, development of new offers and schemes by insurance companies is positively impacts growth of the disability insurance market. However, lack of awareness among the customers is hampering the disability insurance market growth. On the contrary, increasing government support for medical and health insurance is expected to offer remunerative opportunities for expansion of the disability insurance market during the forecast period.
The disability insurance market is segmented on the basis of by insurance type, end user, coverage type, and region. On the basis of insurance type, the market is categorized into employer supplied disability insurance, individual disability insurance, high limit disability insurance, business overhead expense disability insurance, and others. On the basis of end user, the market is bifurcated into government, enterprise, and individual. By coverage type, it is classified into short term disability insurance and long term disability insurance. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players that operate in the disability insurance market are Aegon N.V., Ahana, Assurity Group, Inc., Allianz, Assicurazioni Generali SpA, Asteya, Aviva, AXA, Guardian Life Insurance Company, Illinois Mutual, Petersen International Underwriters (PIU), Massmutual, Mutual of Omaha, MetLife Services and Solutions, LLC, Ping An Insurance, Nippon Life Insurance, and Zurich Insurance Group. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the disability insurance market analysis from 2021 to 2031 to identify the prevailing disability insurance market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the disability insurance market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global disability insurance market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Insurance Type
Individual Disability Insurance
High Limit Disability Insurance
Business Overhead Expense Disability Insurance
Others
Employer Supplied Disability Insurance
By End User
Government
Enterprise
Individual
Individual Type
Male
Female
By Coverage Type
Short Term Disability Insurance
Long Term Disability Insurance
By Region
North America
U.S
Canada
Europe
UK
Germany
Netherlands
France
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Mexico
UAE
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
AEGON N.V.
Assurity Group, Inc.
Allianz SE
assicurazioni generali spa
Aviva plc
AXA Group
Guardian Life Insurance Company
Illinois Mutual
Petersen International Underwriters (PIU)
Massmutual
Mutual of Omaha
MetLife Services and Solutions, LLC .
Ping An Insurance
Nippon life insurance
Zurich Insurance Group
Asteya
Ahana
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