Global & Regional Permanent Life Insurance Market by Type (Whole Life Insurance, Universal Life Insurance, Variable Life, and Others), by Scheme (Participating Whole Life Insurance and Non-Participating Whole Life Insurance), by Gender (Male and Female), by Application (Agency, Brokers, Bancassurance, and Digital & Direct Channels), by Geography, Historical Trends (2018-2021), Forecasts and Industry Outlook (2022-2030)

Published on 08/25/2022| Code: CMM460001| Category: Banking & Finance| Total Pages: 278

Global & Regional Permanent Life Insurance Market- Description
Permanent life insurance refers to a type of coverage that does not come with an expiry date unlike term life insurance policies. It is specifically designed to last an entire lifetime, i.e. from the time of procurement till the death of the buyer. These policies offer fixed tax-free death benefits and their premiums do not grow with loans or age. There are four primary types of permanent life insurance, namely, universal life, whole life, variable life, and variable universal life.

Global & Regional Permanent Life Insurance Market- Overview
The global & regional permanent life insurance market is presently valued at USD 5,938.41 billion and is poised to amplify with a CAGR of 10.4% over 2022-2030, thereby amassing USD 8,398.11 billion by end of the assessment timeline.
Permanent life insurance policies do not come with an expiry data and also offer guaranteed growth on saving. This is one of the primary factors augmenting the outlook of this marketplace.
Also, rising per capita income of individuals and growing R&D investments in the field are creating lucrative opportunities for the business vertical to prosper.
Moreover, increasing awareness among individuals regarding the financial future of their family members is positively swaying the dynamics of this marketplace.
On the contrary, the dependency of such insurance policies on overall market performance is hindering the remuneration scope of this industry sphere.

Global & Regional Permanent Life Insurance Market- Key trends
Various benefits offered by permanent life insurance schemes to aid industry expansion
Permanent life insurance policies offer a wide array of advantages to the clients. These schemes do not expire until the buyers stops paying the premium. Moreover, they also guarantee robust growth on fixed savings while offerings tax free death benefits. This in turn is augmenting the outlook of the business sphere.

Onset of COVID-19 pandemic to bolster market growth
The emergence of the coronavirus pandemic has taken a toll on the physical, financial, and mental health of the masses. Increase in the death ratios due to severe infection has pushed masses to buy favorable insurance policies to secure the life of their loved ones. These factors are stimulating the overall dynamics of this marketplace.

Global & Regional Permanent Life Insurance Market- Segmental assessment

By Type
•Whole Life Insurance
oPure Whole Life Insurance
oLimited Payment Whole Life Insurance
•Universal Life Insurance
oGuaranteed Universal Life Insurance
oIndexed Universal Life Insurance
oVariable Universal Life Insurance
•Variable Life
•Others
By Scheme
•Participating Whole Life Insurance
•Non-Participating Whole Life Insurance

By Gender
•Male
•Female

By Application
•Agency
•Brokers
•Bancassurance
•Digital & Direct Channels

The agency segment is poised to generate significant returns over the stipulated timeframe owing to the lucrative offers given by insurance agencies to their potential clients.

Global & Regional Permanent Life Insurance Market- Geographical landscape
The major regions constituting the geographical ambit of this business vertical are North America, Middle East & Africa, Europe, Asia Pacific, and South America. Among these, North America is projected to capture a substantial revenue share over the forecast period of 2022-2030. This is attributable to the growing per capita income of the masses and increasing geriatric population base.

Global & Regional Permanent Life Insurance Market- Competitive hierarchy
The prominent players characterizing the competitive terrain of this industry sphere are Assicurazioni Generali, Northwestern Mutual, Massachusetts Mutual Life Insurance Company, China Life Insurance, Ping An Group, New York Life, State Farm Mutual Automobile Insurance Company, The Guardian Life Insurance Company of America, Allianz, MetLife, Nippon Life Insurance, American International Group, Inc., Prudential PLC, Legal & General, Aegon Life, Gerber Life Insurance, and Others.

Report scope
Global & Regional Permanent Life Insurance Market : Historical Years- 2018-2021
Global & Regional Permanent Life Insurance Market : Forecast Years- 2022-2030
Global & Regional Permanent Life Insurance Market : 2022- USD 5,938.41 billion
Global & Regional Permanent Life Insurance Market : CAGR- 10.4%
Global & Regional Permanent Life Insurance Market : 2030- USD 8,398.11 billion

Key segments reported-
•By Type (Whole Life Insurance, Universal Life Insurance, Variable Life, and Others)
•By Scheme (Participating Whole Life Insurance and Non-Participating Whole Life Insurance)
•By Gender (Male and Female)
•By Application (Agency, Brokers, Bancassurance, and Digital & Direct Channels)

Major regions and countries covered-
•North America (U.S., Canada, and Mexico)
•South America (Brazil, Argentina, and Colombia)
•Europe (Germany, U.K., France, Italy, Spain, and Russia)
•Middle East & Africa (UAE, Saudi Arabia, Egypt, and South Africa)
•Asia Pacific (China, Japan, India, Australia, South Korea, and ASEAN)

Top players profiled- Assicurazioni Generali, Northwestern Mutual, Massachusetts Mutual Life Insurance Company, China Life Insurance, Ping An Group, New York Life, State Farm Mutual Automobile Insurance Company, The Guardian Life Insurance Company of America, Allianz, MetLife, Nippon Life Insurance, American International Group, Inc., Prudential PLC, Legal & General, Aegon Life, Gerber Life Insurance, and Others

1. Global Permanent Life Insurance Market Introduction and Market Overview
1.1. Objectives of the Study
1.2. Global Permanent Life Insurance Market Scope and Market Estimation
1.2.1.Global Permanent Life Insurance Overall Market Size (US$ Mn), Market CAGR (%), Market forecast (2022-2031)
1.2.2.Global Permanent Life Insurance Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019-2031
1.3. Market Segmentation
1.3.1. Type of Global Permanent Life Insurance Market
1.3.2. Scheme of Global Permanent Life Insurance Market
1.3.3.Gender of Global Permanent Life Insurance Market
1.3.4.Application of Global Permanent Life Insurance Market
1.3.5.Region of Global Permanent Life Insurance Market

2. Executive Summary

3. Market Factor Analysis
3.1. Global Permanent Life Insurance Market Industry Trends under COVID-19 Outbreak
3.1.1.Global COVID-19 Status Overview
3.1.2.Influence of COVID-19 Outbreak on Global Permanent Life Insurance Market Industry Development
3.2. Market Dynamics
3.2.1.Drivers
3.2.2.Limitations
3.2.3.Opportunities
3.2.4.Impact Analysis of Drivers and Restraints
3.3. Ecosystem Analysis
3.4. Porter’s Five Forces Analysis
3.5. PEST Analysis
3.6. SWOT Analysis
3.7. Russia-Ukraine War Impacts Analysis
3.8. Ansoff Matrix
3.9. Market Investment Feasibility Analysis
3.10. Pricing Analysis of Global Permanent Life Insurance Market
3.11. Opportunity Map Analysis
3.12. Mergers & Acquisitions, Expansions
3.13. Outlook on Cash Value as Collaterals
3.13.1. Business Outlook / End-User Perspective
3.13.2. Outlook on Collateral Assignment of Life Insurance

4. Global Permanent Life Insurance Market Estimates & Historic Trend Analysis (2016-2021)

5. Global Permanent Life Insurance Market Estimates & Forecast Trend Analysis, by Type
5.1. Global Permanent Life Insurance Market Revenue (US$ Mn) Estimates and Forecasts, by Type, 2019 to 2031
5.1.1.Whole Life Insurance
5.1.1.1. Pure Whole Life Insurance
5.1.1.2. Limited Payment Whole Life Insurance
5.1.2.Universal Life Insurance
5.1.2.1. Guaranteed universal life insurance
5.1.2.2. Indexed universal life insurance
5.1.2.3. Variable universal life insurance
5.1.3.Variable life
5.1.4.Others

6. Global Permanent Life Insurance Market Estimates & Forecast Trend Analysis, by Scheme
6.1. Global Permanent Life Insurance Market Revenue (US$ Mn) Estimates and Forecasts, by Scheme, 2019 to 2031
6.1.1.Participating Whole Life Insurance
6.1.2.Non-Participating Whole Life Insurance

7. Global Permanent Life Insurance Market Estimates & Forecast Trend Analysis, by Gender
7.1. Global Permanent Life Insurance Market Revenue (US$ Mn) Estimates and Forecasts, by Gender, 2019 to 2031
7.1.1.Male
7.1.2.Female

8. Global Permanent Life Insurance Market Estimates & Forecast Trend Analysis, by Application
8.1. Global Permanent Life Insurance Market Revenue (US$ Mn) Estimates and Forecasts, by Application, 2019 to 2031
8.1.1.Agency
8.1.2.Brokers
8.1.3.Bancassurance
8.1.4.Digital & Direct Channels

9. Global Permanent Life Insurance Market Estimates & Forecast Trend Analysis, by Region
9.1. Global Permanent Life Insurance Market Revenue (US$ Mn) Estimates and Forecasts, by Region, 2019 to 2031
9.1.1.North America
9.1.2.Europe
9.1.3.Asia Pacific
9.1.4.Middle East & Africa
9.1.5.South America

10. North America Permanent Life Insurance Market: Estimates & Forecast Trend Analysis
10.1. North America Market Assessments & Key Findings
10.1.1. Market Introduction
10.1.2. Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
10.1.2.1. By Type
10.1.2.2. By Scheme
10.1.2.3. By Gender
10.1.2.4. By Application
10.1.2.5. By Country
10.1.2.5.1. U.S.
10.1.2.5.2. Canada
10.1.2.5.3. Mexico

11. Europe Permanent Life Insurance Market: Estimates & Forecast Trend Analysis
11.1. Europe Market Assessments & Key Findings
11.1.1. Market Introduction
11.1.2. Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
11.1.2.1. By Type
11.1.2.2. By Scheme
11.1.2.3. By Gender
11.1.2.4. By Application
11.1.2.5. By Country
11.1.2.5.1. Germany
11.1.2.5.2. U.K.
11.1.2.5.3. France
11.1.2.5.4. Italy
11.1.2.5.5. Spain
11.1.2.5.6. Russia
11.1.2.5.7. Rest of Europe

12. Asia Pacific Permanent Life Insurance Market: Estimates & Forecast Trend Analysis
12.1. Asia Pacific Market Assessments & Key Findings
12.1.1. Market Introduction
12.1.2. Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
12.1.2.1. By Type
12.1.2.2. By Scheme
12.1.2.3. By Gender
12.1.2.4. By Application
12.1.2.5. By Country
12.1.2.5.1. China
12.1.2.5.2. Japan
12.1.2.5.3. India
12.1.2.5.4. Australia
12.1.2.5.5. South Korea
12.1.2.5.6. ASEAN
12.1.2.5.7. Rest of Asia Pacific

13. Middle East & Africa Permanent Life Insurance Market: Estimates & Forecast Trend Analysis
13.1. Middle East & Africa Market Assessments & Key Findings
13.1.1. Market Introduction
13.1.2. Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
13.1.2.1. By Type
13.1.2.2. By Scheme
13.1.2.3. By Gender
13.1.2.4. By Application
13.1.2.5. By Country
13.1.2.5.1. U.A.E.
13.1.2.5.2. Saudi Arabia
13.1.2.5.3. Egypt
13.1.2.5.4. South Africa
13.1.2.5.5. Rest of Middle East & Africa

14. South America Permanent Life Insurance Market: Estimates & Forecast Trend Analysis
14.1. South America Market Assessments & Key Findings
14.1.1. Market Introduction
14.1.2. Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
14.1.2.1. By Type
14.1.2.2. By Scheme
14.1.2.3. By Gender
14.1.2.4. By Application
14.1.2.5. By Country
14.1.2.5.1. Brazil
14.1.2.5.2. Argentina
14.1.2.5.3. Colombia
14.1.2.5.4. Rest of South America

15. Competition Landscape
15.1. Global Permanent Life Insurance Market Share (%) Analysis, 2021
15.2. Market Competition Matrix, by Leading Players

16. Company Profiles
16.1. Northwestern Mutual
16.1.1. Company Overview
16.1.2. Financial Performance
16.1.3. Product Portfolio
16.1.4. Business Strategy
16.2. Massachusetts Mutual Life Insurance Company
16.3. New York Life
16.4. State Farm Mutual Automobile Insurance Company
16.5. The Guardian Life Insurance Company of America
16.6. Allianz
16.7. Ping An Group
16.8. MetLife
16.9. Nippon Life Insurance
16.10. American International Group, Inc
16.11. Prudential PLC
16.12. Legal & General
16.13. Aegon Life
16.14. Gerber Life Insurance
16.15. Assicurazioni Generali
16.16. China Life Insurance
16.17. Others