Global Life Insurance Market Growth (Status and Outlook) 2023-2029

Global Life Insurance Market Growth (Status and Outlook) 2023-2029

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.

LPI (LP Information)' newest research report, the “Life Insurance Industry Forecast” looks at past sales and reviews total world Life Insurance sales in 2022, providing a comprehensive analysis by region and market sector of projected Life Insurance sales for 2023 through 2029. With Life Insurance sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Life Insurance industry.

This Insight Report provides a comprehensive analysis of the global Life Insurance landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Life Insurance portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Life Insurance market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Life Insurance and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Life Insurance.

The global Life Insurance market size is projected to grow from US$ million in 2022 to US$ million in 2029; it is expected to grow at a CAGR of % from 2023 to 2029.

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.

This report presents a comprehensive overview, market shares, and growth opportunities of Life Insurance market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type
Term Insurance
Permanent Insurance

Segmentation by application
Children
Adults
Senior Citizens

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
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

Please note: The report will take approximately 2 business days to prepare and deliver.