This report provides in depth study of “Whole Life Insurance Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Whole Life Insurance Market report also provides an in-depth survey of key players in the market organization.
Global Whole Life Insurance Market Synopsis:
This report studies the Global Whole Life Insurance Market over the forecast period of 2019 to 2023. The Global Whole Life Insurance Market is expected to grow at an impressive Compound Annual Growth Rate (CAGR) from 2019 to 2023.
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The Global “Whole Life Insurance Market” research 2019 highlights the major details and provides in-depth analysis of the market along with the future growth, prospects and Industry demands analysis explores with the help of complete report with 90 Pages, figures, graphs and table of contents to analyze the situations of global Whole Life Insurance Market and Assessment to 2023.
Whole Life Insurance Market report begins from overview of Industry Chain structure, and describes industry environment, then analyses market size and forecast of Whole Life Insurance Market by product, region and application, in addition, this report introduces market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report. The scope of the report includes a detailed study of Whole Life Insurance Market with the reasons given for variations in the growth of the industry in certain regions.
Whole life insurance provides coverage for the life of the insured. In addition to providing a death benefit, whole life also contains a savings component where cash value may accumulate. These policies are also known as permanent or traditional life insurance.
The most common of life insurance products, whole life insurance guarantees payment of a death benefit to beneficiaries in exchange for level, regularly-due premium payments. The policy includes a savings portion, called the cash value, alongside the death benefit. In the savings component, interest may accumulate on a tax-deferred basis. Growing cash value is an essential component of whole life insurance.
Whole life insurance can be sold as a nonparticipating or participating policy. A nonparticipating policy does not pay dividends to the policy owner. The insurer sets the level premium, death benefits and cash surrender values at the time of purchase. These amounts are fixed at policy issue. A participating policy allows the insured to share in the insurers Investment, expense and mortality experience by providing dividends, which can be received in cash, used to reduce premium payments or to purchase paid-up additional insurance. The dividend options make these policies more flexible than nonparticipating policies, but the policies are also typically more expensive.
Whole Life Insurance Market Covers the Table of Contents With Segments, Key Players And Region. Based on Product Type, Whole Life Insurance Market is sub segmented into Non-participating Whole Life and Participating Whole Life. Based on Application, Market is further sub segmented into Agency, Brokers, Bancassurance, Digital & Direct Channels.
Major Players profiled in the Whole Life Insurance Market report incorporate: Allianz, AXA, Generali, Ping An Insurance, China Life Insurance, Prudential PLC, Munich Re, Zurich Insurance, Nippon Life Insurance, Japan Post Holdings, Berkshire Hathaway, Metlife
According to the 2019 Life Insurance Needs Study from Allianz Life Insurance Company of North America (Allianz Life®), women lack familiarity with a number of important benefits offered by permanent life insurance that could help build more flexibility in their financial portfolio. Only 34% of women believe that the cash value from a permanent life insurance policy can be used to help fund education, retirement or other financial needs versus 51% of men. Furthermore, only about one- quarter (27%) of women know that benefits paid from life insurance are not taxable versus 38% of men1.
Most concerning, only one-third of women believe that cash value from a permanent life insurance policy can be used to supplement retirement income while you are still alive versus more than half (52%) of men who know it can be used for that purpose.
“Women play a significant role in family finances, so it’s crucial that they have all of the information about ways they can help build a stronger financial future for themselves and their loved ones,” said Jason Wellmann, senior vice president of Life Insurance Sales, Allianz Life. “This is also true for Gen Xers, who can utilize these products to assist with a number of financial strategies, but simply don’t have a complete understanding of all the options that can help them achieve their financial goals.”
Underscoring the need for more education on this topic, the survey also found that fewer people who work with a financial professional are discussing the benefits of permanent life insurance with their professional than they did in 2018.
“It’s clear that the financial planning community has an excellent opportunity to educate their female and Gen X clients about the living and tax benefits of permanent life insurance,” noted Wellmann. “Providing this information can demonstrate a more complete understanding of their clients’ needs and the potential solutions available.”
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Region segment: This report is segmented into several key regions, with sales, revenue, market share (%) and growth Rate (%) of Whole Life Insurance in these regions, from 2014 to 2023 (forecast), covering: North America, Europe, Asia Pacific, Middle East & Africa and South America.
Whole Life Insurance Market Questions Answered in this Report:
1 What are the major market drivers, challenges, and opportunities in the global Whole Life Insurance Market?
2 What was the market value of the leading segments and sub-segments of the global Whole Life Insurance Market in 2018?
3 How will each segment of the global Whole Life Insurance Market grow during the forecast period and what will be the revenue generated by each of the segments by the end of 2023?
4 What are the influencing factors that may affect the market share of the key players?
5 How will the industry evolve during the forecast period 2019-2023?
6 Who are the key players in the Whole Life Insurance Market and end user market and what are their contributions?
Major Points in Table of Contents:
Table of Contents
Section 1 Whole Life Insurance Product Definition
Section 2 Global Whole Life Insurance Market Manufacturer Share and Market Overview
2.1 Global Manufacturer Whole Life Insurance Shipments
2.2 Global Manufacturer Whole Life Insurance Business Revenue
2.3 Global Whole Life Insurance Market Overview
Section 3 Manufacturer Whole Life Insurance Business Introduction
3.1 Allianz Whole Life Insurance Business Introduction
3.1.1 Allianz Whole Life Insurance Shipments, Price, Revenue and Gross profit 2014-2018
3.1.2 Allianz Whole Life Insurance Business Distribution by Region
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