The equity indexed life insurance market size is expected to grow from US$ 4.13 billion in 2023 to US$ 11.58 billion by 2031; it is anticipated to expand at a CAGR of 13.8% from 2023 to 2031. The equity indexed life insurance market includes growth prospects owing to the current equity indexed life insurance market trends and their foreseeable impact during the forecast period. The equity indexed life insurance market is a large and expanding sector. The equity indexed life insurance market is growing due to increasing economic growth, rising consumer awareness and education, and increased insurance accessibility.
Equity indexed life insurance is a type of life insurance policy that combines features of both traditional life insurance and investment products. With equity indexed life insurance, a portion of one’s premium payments goes toward providing a death benefit to beneficiaries, similar to regular life insurance. However, another portion of one’s premium is invested in indexed accounts tied to stock market performance. The equity indexed life insurance market is driven by factors such as economic conditions, regulatory changes, and consumer demand for insurance and investment products.
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Equity Indexed Life Insurance Market: Strategic Insights
The scope of the equity indexed life insurance market is primarily divided into five regions - North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is experiencing rapid growth and is anticipated to hold a significant equity indexed life insurance market share. The equity indexed life insurance market in North America has been experiencing steady growth. These policies offer a combination of life insurance protection and the potential for cash value accumulation linked to the performance of a stock market index. However, evolving market conditions might affect market growth in North America.
The regional trends and factors influencing the Equity Indexed Life Insurance Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Equity Indexed Life Insurance Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 4.13 Billion |
| Market Size by 2031 | US$ 11.58 Billion |
| Global CAGR (2023 - 2031) | 13.8% |
| Historical Data | 2021-2023 |
| Forecast period | 2023-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Equity Indexed Life Insurance Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Equity Indexed Life Insurance Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The "Equity Indexed Life Insurance Market Analysis" was carried out based on type, mode, distribution channel, and geography. On the basis of type, the market is segmented into whole life insurance, universal life insurance, variable universal life insurance, indexed universal life insurance, and others. On the basis of mode, the market is segmented into online and offline. Based on distribution channels, the market is segmented into insurance companies, agencies and brokers, and banks. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Companies adopt inorganic and organic strategies such as mergers and acquisitions in the equity indexed life insurance market. A few recent key market developments are listed below:
[Source: Ameritas, Company Website]
[Source: Bajaj Allianz Life, Company Website]
The equity indexed life insurance market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. The market report "Equity Indexed Life Insurance Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering below areas-
The increasing economic growth and rising consumer awareness and education are the major factors that propel the global equity indexed life insurance market.
The global equity indexed life insurance market is expected to reach US$ 11.58 billion by 2031.
Product innovation is anticipated to play a significant role in the global equity indexed life insurance market in the coming years.
The key players holding majority shares in the global equity indexed life insurance market are Prudential Financial, Inc; American International Group, Inc; Symetra Life Insurance Company; AXA; and MetLife Services and Solutions, LLC.
The global equity indexed life insurance market was estimated to be US$ 4.13 billion in 2023 and is expected to grow at a CAGR of 13.8% during 2023 - 2031.