Global Disability Insurance Market Size study, By Insurance Type (Employer Supplied Disability Insurance, Individual Disability Insurance, High Limit Disability Insurance, Business Overhead Expense Disability Insurance), By End User (Government, Enterpris

Global Disability Insurance Market Size study, By Insurance Type (Employer Supplied Disability Insurance, Individual Disability Insurance, High Limit Disability Insurance, Business Overhead Expense Disability Insurance), By End User (Government, Enterprise, Individual), By Coverage Type (Short Term Disability Insurance, Long Term Disability Insurance), and Regional Forecasts 2022-2028

Global Disability Insurance Market is valued approximately USD XX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2028.

Disability Insurance refers to a type of insurance that pays out if an insured person is not able to work due to a permanent or temporary disability. Short-term policies pay benefits for short time duration generally three months, six months, ND one year. Whereas, in case of long-term insurance policy benefits are paid for a longer term, generally two years, five years, 10 years, or to age 65, or for life, based on the underline conditions of a policy. The growing expansion of insurance industry and increasing incidences of work-related injuries as well as strategic initiatives from leading market players are factors that are accelerating the global market demand. For instance, according to International Labor Organization (ILO) estimates- as of 2020, around 2.3 million women and men around the world lost their lives due to work-related accidents or diseases every year, witnessing for around 6000 deaths every day. Further, globally around 340 million occupational accidents and 160 million victims of work-related illnesses occurs annually. Furthermore, leading market players are working towards strategic initiatives such as joint partnerships to leverage the growing adoption of disability insurance products. For instance, in June 2022, Nebraska, USA based insurtech company Breeze Partnered with US based financial investment management and insurance company Principal Financial Group to Expand Its Online Disability Insurance Platform. Also, growing emergence of digital insurance distribution channels coupled with increasing number of favorable government initiatives are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, a lack of awareness among individuals and slow insurance penetration in developing regions impede the growth of the market over the forecast period of 2022-2028.

The key regions considered for the global Disability Insurance Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing expansion of insurance sector and presence of leading market players in the region. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the increasing number of favorable government initiatives towards social security of employees as well as increasing penetration of leading insurance providers in the region, would create lucrative growth prospects for the Disability Insurance Market across the Asia pacific region.

Major market players included in this report are:
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

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Insurance Type
Employer Supplied Disability Insurance
Individual Disability Insurance
High Limit Disability Insurance
Business Overhead Expense Disability Insurance
By End User
Government
Enterprise
Individual
By Coverage Type
Short Term Disability Insurance
Long Term Disability Insurance
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Disability Insurance Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Companies Mentioned

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

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