Whole Life Insurance Global Market Report 2024

Whole Life Insurance Global Market Report 2023

Whole Life Insurance Global Market Report 2024 – By Type (Non-Participating Whole Life, Participating Whole Life), By Application (Agency, Brokers, Bancassurance, Digital And Direct Channels) – Market Size, Trends, And Global Forecast 2024-2033

Name: Whole Life Insurance Global Market Report 2024
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Whole Life Insurance Global Market Report 2024

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Whole Life Insurance Global Market Report 2024

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Whole Life Insurance Market Definition

Whole life insurance, often known as permanent life insurance, refers to life insurance plans that include an investment component and are designed to last until death. In contrast to term life insurance, which only covers a specified number of years, the insurance policy offers a death benefit when the policyholder passes away, as long as the appropriate payments are paid. A whole life insurance policy's premiums fund both an investment account and the policy's guaranteed death benefit.

The main types of whole life insurance are non-participating whole life and participating whole life. Non-participating whole life is one type of whole life insurance where policyholders do not receive dividends but premiums are generally lower. The various applications involved are agencies, brokers, bancassurance, and digital and direct channels.

Whole Life Insurance Market Segmentation

The whole life insurance market covered in this report is segmented –

1) By Type: Non-Participating Whole Life, Participating Whole Life

2) By Application: Agency, Brokers, Bancassurance, Digital And Direct Channels

Global Whole Life Insurance Market Size 2023 to 2028: Graph

Whole Life Insurance Market Size 2024 And Growth Rate

The whole life insurance market size has grown steadily in recent years. It will grow from $175.67 billion in 2023 to $180.58 billion in 2024 at a compound annual growth rate (CAGR) of 2.8%. The growth in the historic period can be attributed to policy stability and guarantees, long-term financial security, legacy and estate planning, inflation hedge, conservative investment option..

Whole Life Insurance Market Growth Forecast

The whole life insurance market size is expected to see steadily grown in the next few years. It will grow to $205.16 billion in 2028 at a compound annual growth rate (CAGR) of 3.2%. The growth in the forecast period can be attributed to personalized solutions, increased longevity concerns, wealth transfer and estate planning, health and wellness incentives, shift in consumer preferences.. Major trends in the forecast period include customization and personalization, innovative product offerings, tech integration in underwriting, evolving customer preferences, wealth transfer and estate planning..

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Whole Life Insurance Market Driver: The Rising Aging Population Is Anticipated To Fuel The Whole Life Insurance Market

The rising aging population is expected to propel the whole life insurance market. The aging population refers to a demographic shift characterized by a rising proportion or increase in the number of individuals within a society who are in the later stages of life, typically aged 65 and older. Whole life insurance serves as a financial planning tool for the aging population, offering lifetime coverage, cash value accumulation, and potential estate planning benefits. For instance, in October 2022, according to the World Health Organization, a Switzerland-based Intergovernmental organization, projected that by 2030, one out of every six individuals globally would be 60 years old or older. During this period, the proportion of the population aged 60 and over is expected to rise from 1 billion in 2020 to 1.4 billion. Furthermore, by the year 2050, the global population of individuals aged 60 and older is anticipated to double, reaching 2.1 billion. Therefore, the rising aging population is driving the growth of the whole life insurance market.

Whole Life Insurance Market Driver: Increasing Urbanization Is Anticipated To Fuel The Whole Life Insurance Market

The increasing urbanization is expected to propel the whole life insurance market. Urbanization refers to the process by which rural areas become urbanized as a result of economic development and industrialization. Whole life insurance addresses financial needs in urbanization by providing stable, long-term coverage and investment components, catering to the evolving financial goals of urban residents. For instance, in April 2023, according to the World Bank Group, a US-based bank, reported that currently, more than half of the global population resides in urban regions. By 2045, this urban population is projected to surge to 6 billion, marking a 1.5 times increase. Therefore, the increasing urbanization is driving the growth of the whole life insurance market.

Global Whole Life Insurance Market Major Players

Major companies operating in the whole life insurance market report are China Life Insurance Company Limited, MetLife Inc., Ping An Insurance Company of China Ltd., Allianz Life Insurance, Axa SA, Generali Group, Munich Re Group, Zurich Insurance Group Ltd., Nippon Life Insurance Company, Japan Post Holdings Company Ltd., Berkshire Hathaway Inc., Manulife Financial Corporation, China Pacific Insurance Co. Ltd., Chubb Corp., American International Group, Aviva Plc., Allstate Corporation, Swiss Reinsurance Company Ltd., Prudential Financial Inc., New York Life Insurance Company, Massachusetts Mutual Life Insurance Company, Guardian Life Insurance Company of America, Penn Mutual Life Insurance Company, Ohio National Life Insurance Company, State Farm Mutual Automobile Insurance Company, Pacific Life Insurance Company, John Hancock Financial Services, Principal Financial Group Inc., Nationwide Mutual Insurance Company, Thrivent Financial for Lutherans .

Global Whole Life Insurance Market Trend: Technology Platform For The Whole Life Insurance Market

Major companies operating in whole life insurance are focusing on incorporating advanced technologies for simplified operations and strengthening their market position. For instance, in December 2022, Modern Life Insurance Group Inc., a US-based insurance group, announced the launch of its latest technology platform, where life insurance advisors can take advantage of a variety of cutting-edge tools and solutions from the new stack. These include the ability to manage all client and brokerage needs in one location, enhanced customer involvement, entirely digital applications, and comparison and pricing capabilities.

Global Whole Life Insurance Market Trend: Comprehensive Insurance Product That Caters To The Needs Of Local Customers

Major companies operating in the whole life insurance market are providing comprehensive insurance products such as Insurance Plan with incremental Death Benefit that caters to the needs of local customers. An insurance plan with incremental death benefit refers to a policy that guarantees the death benefit, payable to beneficiaries, will progressively increase over time. For instance, in August 2023, China Pacific Life Insurance Company Limited, a China-based insurance group, launched a new whole life insurance product, "Ever-growing Whole Life Insurance Plan," featuring both protection and savings functions. The incremental feature ensures that the Death Benefit if the insured passes away after the premium payment period, will not be less than a percentage of the Notional Amount, continuously increasing life protection. The plan offers flexible options such as Currency Conversion, Terminal Dividend Lock-in, and Regular Withdrawal, catering to individual financial planning.

Global Whole Life Insurance Market Merger And Acquisition: Icici Lombard And Bharti Axa General Insurance Complete Merger, Expanding Distribution Channels And Digital Platform

In September 2021, ICICI Lombard General Insurance, an India-based general insurance company merged with Bharti AXA General Insurance for an undisclosed amount. Through the merger, distribution will be improved and supported by over 100,000 partners and a wide range of practical digital platforms. Bharti AXA General Insurance is an India-based life insurance company that provides a wide range of life insurance policies.

Regional Outlook For The Global Whole Life Insurance Market

North America was the largest region in the whole life insurance market in 2023. Europe is expected to be the fastest-growing region in the whole life insurance market report during the forecast period. The regions covered in the whole life insurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the whole life insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The whole life insurance market includes revenues earned by entities by providing universal life insurance, and variable life insurance. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The whole life insurance market research report is one of a series of new reports from The Business Research Company that provides whole life insurance market statistics, including whole life insurance industry global market size, regional shares, competitors with whole life insurance market share, detailed whole life insurance market segments, market trends, and opportunities, and any further data you may need to thrive in the whole life insurance industry. This whole life insurance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Whole Life Insurance Market Report Forecast And Analysis

Report Attribute	Details
Market Size Value In 2024	$180.58 billion
Revenue Forecast In 2033	$205.16 billion
Growth Rate	CAGR of 3.2% from 2024 to 2033
Base Year For Estimation	2023
Actual Estimates/Historical Data	2018-2023
Forecast Period	2024 - 2028 - 2033
Market Representation	Revenue in USD Billion and CAGR from 2024 to 2033
Segments Covered	1) By Type: Non-Participating Whole Life, Participating Whole Life 2) By Application: Agency, Brokers, Bancassurance, Digital And Direct Channels
Regional Scope	Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Country Scope	The countries covered in the report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. Additional countries that can be covered in the report for an additional fee: Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, Mexico, Chile, Argentina, Colombia, Peru, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
Key Companies Profiled	China Life Insurance Company Limited; MetLife Inc.; Ping An Insurance Company of China Ltd.; Allianz Life Insurance; Axa SA; Generali Group; Munich Re Group; Zurich Insurance Group Ltd.; Nippon Life Insurance Company; Japan Post Holdings Company Ltd.; Berkshire Hathaway Inc.; Manulife Financial Corporation; China Pacific Insurance Co. Ltd.; Chubb Corp.; American International Group; Aviva Plc.; Allstate Corporation; Swiss Reinsurance Company Ltd.; Prudential Financial Inc.; New York Life Insurance Company; Massachusetts Mutual Life Insurance Company; Guardian Life Insurance Company of America; Penn Mutual Life Insurance Company; Ohio National Life Insurance Company; State Farm Mutual Automobile Insurance Company; Pacific Life Insurance Company; John Hancock Financial Services; Principal Financial Group Inc.; Nationwide Mutual Insurance Company; Thrivent Financial for Lutherans
Customization Scope	Request for Sample
Pricing And Purchase Options	Explore Purchase Options

The major players in the global whole life insurance market are Allianz, Assicurazioni Generali, China Life Insurance, MetLife, PingAn

1. Executive Summary

2. Whole Life Insurance Market Characteristics

3. Whole Life Insurance Market Trends And Strategies

4. Whole Life Insurance Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market

4.2. Ukraine-Russia War Impact On the Market

4.3. COVID-19 Impact On the Market

5. Global Whole Life Insurance Market Size and Growth

5.1. Global Whole Life Insurance Market Drivers and Restraints

5.1.1. Drivers Of The Market

5.1.2. Restraints Of The Market

5.2. Global Whole Life Insurance Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)

5.3. Global Whole Life Insurance Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Whole Life Insurance Market Segmentation

6.1. Global Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Non-Participating Whole Life

Participating Whole Life

6.2. Global Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Agency

Brokers

Bancassurance

Digital And Direct Channels

7. Whole Life Insurance Market Regional And Country Analysis

7.1. Global Whole Life Insurance Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

7.2. Global Whole Life Insurance Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Whole Life Insurance Market

8.1. Asia-Pacific Whole Life Insurance Market Overview

Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

8.2. Asia-Pacific Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8.3. Asia-Pacific Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Whole Life Insurance Market

9.1. China Whole Life Insurance Market Overview

9.2. China Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

9.3. China Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Whole Life Insurance Market

10.1. India Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

10.2. India Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Whole Life Insurance Market

11.1. Japan Whole Life Insurance Market Overview

11.2. Japan Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11.3. Japan Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Whole Life Insurance Market

12.1. Australia Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12.2. Australia Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Whole Life Insurance Market

13.1. Indonesia Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13.2. Indonesia Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Whole Life Insurance Market

14.1. South Korea Whole Life Insurance Market Overview

14.2. South Korea Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14.3. South Korea Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Whole Life Insurance Market

15.1. Western Europe Whole Life Insurance Market Overview

15.2. Western Europe Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15.3. Western Europe Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Whole Life Insurance Market

16.1. UK Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16.2. UK Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Whole Life Insurance Market

17.1. Germany Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17.2. Germany Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Whole Life Insurance Market

18.4. France Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18.5. France Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Whole Life Insurance Market

19.7. Italy Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19.8. Italy Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Whole Life Insurance Market

20.10. Spain Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20.11. Spain Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Whole Life Insurance Market

21.1. Eastern Europe Whole Life Insurance Market Overview

21.2. Eastern Europe Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21.3. Eastern Europe Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Whole Life Insurance Market

22.1. Russia Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22.2. Russia Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Whole Life Insurance Market

23.1. North America Whole Life Insurance Market Overview

23.2. North America Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23.3. North America Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Whole Life Insurance Market

24.1. USA Whole Life Insurance Market Overview

24.2. USA Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24.3. USA Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Whole Life Insurance Market

25.1. Canada Whole Life Insurance Market Overview

25.2. Canada Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25.3. Canada Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Whole Life Insurance Market

26.1. South America Whole Life Insurance Market Overview

26.2. South America Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26.3. South America Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Whole Life Insurance Market

27.1. Brazil Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27.2. Brazil Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Whole Life Insurance Market

28.1. Middle East Whole Life Insurance Market Overview

28.2. Middle East Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28.3. Middle East Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Whole Life Insurance Market

29.1. Africa Whole Life Insurance Market Overview

29.2. Africa Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29.3. Africa Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Whole Life Insurance Market Competitive Landscape And Company Profiles

30.1. Whole Life Insurance Market Competitive Landscape

30.2. Whole Life Insurance Market Company Profiles

30.2.1. China Life Insurance Company Limited

30.2.1.1. Overview

30.2.1.2. Products and Services

30.2.1.3. Strategy

30.2.1.4. Financial Performance

30.2.2. MetLife Inc.

30.2.2.1. Overview

30.2.2.2. Products and Services

30.2.2.3. Strategy

30.2.2.4. Financial Performance

30.2.3. Ping An Insurance Company of China Ltd.

30.2.3.1. Overview

30.2.3.2. Products and Services

30.2.3.3. Strategy

30.2.3.4. Financial Performance

30.2.4. Allianz Life Insurance

30.2.4.1. Overview

30.2.4.2. Products and Services

30.2.4.3. Strategy

30.2.4.4. Financial Performance

30.2.5. Axa SA

30.2.5.1. Overview

30.2.5.2. Products and Services

30.2.5.3. Strategy

30.2.5.4. Financial Performance

31. Global Whole Life Insurance Market Competitive Benchmarking

32. Global Whole Life Insurance Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Whole Life Insurance Market

34. Whole Life Insurance Market Future Outlook and Potential Analysis

34.1 Whole Life Insurance Market In 2028 - Countries Offering Most New Opportunities

34.2 Whole Life Insurance Market In 2028 - Segments Offering Most New Opportunities

34.3 Whole Life Insurance Market In 2028 - Growth Strategies

34.3.1 Market Trend Based Strategies

34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations

35.2. Currencies

35.3. Historic And Forecast Inflation Rates

35.4. Research Inquiries

35.5. The Business Research Company

35.6. Copyright And Disclaimer

List Of Tables

Table 1: Global Historic Market Growth, 2018-2023, $ Billion

Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion

Table 3: Global Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 4: Global Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 5: Global Whole Life Insurance Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 6: Global Whole Life Insurance Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 7: Asia-Pacific, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 8: Asia-Pacific, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 9: China, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 10: China, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 11: India, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 12: India, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 13: Japan, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 14: Japan, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 15: Australia, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 16: Australia, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 17: Indonesia, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 18: Indonesia, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 19: South Korea, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 20: South Korea, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 21: Western Europe, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 22: Western Europe, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 23: UK, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 24: UK, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 25: Germany, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 26: Germany, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 27: France, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 28: France, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 29: Italy, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 30: Italy, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 31: Spain, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 32: Spain, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 33: Eastern Europe, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 34: Eastern Europe, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 35: Russia, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 36: Russia, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 37: North America, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 38: North America, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 39: USA, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 40: USA, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 41: Canada, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 42: Canada, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 43: South America, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 44: South America, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 45: Brazil, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 46: Brazil, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 47: Middle East, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 48: Middle East, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 49: Africa, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 50: Africa, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 51: China Life Insurance Company Limited Financial Performance

Table 52: MetLife Inc. Financial Performance

Table 53: Ping An Insurance Company of China Ltd. Financial Performance

Table 54: Allianz Life Insurance Financial Performance

Table 55: Axa SA Financial Performance

List Of Figures

Figure 1: Global Historic Market Growth, 2018-2023, $ Billion

Figure 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion

Figure 3: Global Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 4: Global Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 5: Global Whole Life Insurance Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 6: Global Whole Life Insurance Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 7: Asia-Pacific, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 8: Asia-Pacific, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 9: China, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 10: China, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 11: India, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 12: India, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 13: Japan, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 14: Japan, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 15: Australia, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 16: Australia, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 17: Indonesia, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 18: Indonesia, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 19: South Korea, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 20: South Korea, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 21: Western Europe, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 22: Western Europe, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 23: UK, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 24: UK, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 25: Germany, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 26: Germany, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 27: France, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 28: France, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 29: Italy, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 30: Italy, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 31: Spain, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 32: Spain, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 33: Eastern Europe, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 34: Eastern Europe, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 35: Russia, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 36: Russia, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 37: North America, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 38: North America, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 39: USA, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 40: USA, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 41: Canada, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 42: Canada, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 43: South America, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 44: South America, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 45: Brazil, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 46: Brazil, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 47: Middle East, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 48: Middle East, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 49: Africa, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 50: Africa, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 51: China Life Insurance Company Limited Financial Performance

Figure 52: MetLife Inc. Financial Performance

Figure 53: Ping An Insurance Company of China Ltd. Financial Performance

Figure 54: Allianz Life Insurance Financial Performance

Figure 55: Axa SA Financial Performance

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Frequently Asked Questions

What is the definition of the whole life insurance market?

How will the whole life insurance market drivers and restraints affect the whole life insurance market dynamics? What forces will shape the whole life insurance industry going forward?

The whole life insurance market major growth driver - the rising aging population is anticipated to fuel the whole life insurance market. For further insights on the whole life insurance market, request a sample here

What is the forecast market size or the forecast market value of the whole life insurance market?

The whole life insurance market size has grown steadily in recent years. It will grow from $175.67 billion in 2023 to $180.58 billion in 2024 at a compound annual growth rate (CAGR) of 2.8%. The growth in the historic period can be attributed to policy stability and guarantees, long-term financial security, legacy and estate planning, inflation hedge, conservative investment option.. The whole life insurance market size is expected to see steadily grown in the next few years. It will grow to $205.16 billion in 2028 at a compound annual growth rate (CAGR) of 3.2%. The growth in the forecast period can be attributed to personalized solutions, increased longevity concerns, wealth transfer and estate planning, health and wellness incentives, shift in consumer preferences.. Major trends in the forecast period include customization and personalization, innovative product offerings, tech integration in underwriting, evolving customer preferences, wealth transfer and estate planning.. For further insights on the whole life insurance market, request a sample here

How is the whole life insurance market segmented?

The whole life insurance market is segmented
1) By Type: Non-Participating Whole Life, Participating Whole Life
2) By Application: Agency, Brokers, Bancassurance, Digital And Direct ChannelsFor further insights on the whole life insurance market, request a sample here

Which region has the largest share of the whole life insurance market? What are the other regions covered in the report?

North America was the largest region in the whole life insurance market in 2023. Europe is expected to be the fastest-growing region in the whole life insurance market report during the forecast period. The regions covered in the whole life insurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa For further insights on the whole life insurance market, request a sample here.

Who are the major players in the whole life insurance market?

What are the key trends in the whole life insurance market?

Major trend in the whole life insurance market - technology platform for the whole life insurance market. For further insights on the whole life insurance market, request a sample here.

What are the major opportunities in the whole life insurance market? What are the strategies for the whole life insurance market?

For detailed insights on the major opportunities and strategies in the whole life insurance market, request a sample here.

How does the whole life insurance market relate to the overall economy and other similar markets?

For detailed insights on whole life insurance market's relation to the overall economy and other similar markets, request a sample here.

What are the latest mergers and acquisitions in the whole life insurance industry?

For detailed insights on the mergers and acquisitions in the whole life insurance industry, request a sample here.

What are the key dynamics influencing the whole life insurance market growth? SWOT analysis of the whole life insurance market.

For detailed insights on the key dynamics influencing the whole life insurance market growth and SWOT analysis of the whole life insurance industry, request a sample here.