Market Overview:
The global disability insurance market is expected to grow from USD XX million in 2018 to USD XX million by 2030, at a CAGR of X.X%. The growth of the market can be attributed to the increasing incidence of disabilities, rising awareness about disability insurance, and growing demand for high-limit disability insurance. However, the high cost of premiums may restrain the growth of this market during the forecast period. On the basis of type, employer-supplied disability insurance is expected to hold a major share in the global disability insurance market during the forecast period. This can be attributed to employers’ inclination towards providing their employees with comprehensive benefits packages that include disability insurance coverage. On the basis of application, government is expected to hold a major share in terms of revenue generated from sales Disability Insurance products duringthe forecast period.
Product Definition:
Disability insurance is a type of insurance that provides benefits to employees who are unable to work due to an illness or injury. Disability insurance is important because it can help employees maintain their income if they are unable to work due to an illness or injury.
Employer-Supplied Disability Insurance:
Employer-supplied disability insurance is a type of disability insurance that allows an employee to collect weekly or monthly benefit if he/she is unable to perform the duties of his/her position due to illness, injury or health condition. The amount paid by the employer depends on how much the employee would have been earning had he/she been at work.
Individual Disability Insurance:
Individual Disability Insurance (IDI) is a type of disability insurance that provides benefits to individuals with disabilities. It is designed for people who cannot obtain disability income insurance through an employer or government program. IDI policies are purchased by the individual and may be term or permanent, depending on the needs of the policyholder.
Application Insights:
The others application segment accounted for the largest revenue share in 2016 and is expected to witness significant growth over the forecast period. The growing number of social assistance programs has resulted in increased demand for this type of insurance by private companies as well as government bodies. Enterprise disability insurance policies are designed primarily for large organizations with multiple employees, whereas government disability insurance plans are designed primarily for governments at federal, state and local levels as well as territories (such as Puerto Rico).
Disability income protection provides financial support to individuals who become incapable of working due to a long-term medical condition or injury. This can include accidents covered under workers¢â‚¬â„¢ compensation or Social Security Disability Insurance (SSDI) programs; chronic conditions such as cancer or heart disease that prevent people from working; and mental disorders such a depression that make it difficult to work.
Regional Analysis:
The global market is dominated by the North American region, which accounted for over 35% of the total revenue share in 2017. The presence of a large number of companies and favorable government policies are some factors contributing to the growth in this region. In addition, high awareness levels regarding disability insurance products and services are also expected to drive demand over the forecast period.
However, Asia Pacific is anticipated to be one of the fastest-growing regions owing to increasing labor costs associated with disability benefits programs as well as rising employee turnover rates due to mental stress caused by heavy workloads at work place or workplace violence. Moreover, an increase in per capita income levels coupled with growing awareness about these plans will further propel demand during the forecast period.
Growth Factors:
- Increasing awareness about the benefits of disability insurance: Disability insurance is often seen as an important safety net for individuals and families in case of an unexpected illness or injury that leads to a long-term inability to work. There is a growing awareness about the importance of disability insurance, which is likely to drive growth in this market in the coming years.
- Rising number of people with disabilities: The global population is ageing and this has led to a rise in the number of people with disabilities. This trend is expected to continue in the future, creating demand for disability insurance products.
- Growing emphasis on risk management: Individuals and businesses are increasingly focusing on risk management, including protection against risks such as illness or injury that could lead to long-term unemployment or loss of income. Disability insurance can help protect individuals and businesses from such risks, leading to increased demand for these products.
- . Increased availability of affordable disability insurance products: A growing number of insurers are offering affordable disability insurance products, making them more accessible to consumers worldwide. This is likely to contribute significantly towards market growth in the coming years . 5) Technological advancements: Advancements in technology have made it easier for insurers offer innovative disability insurance products that meet the needs o f consumers
Scope Of The Report
Report Attributes
Report Details
Report Title
Disability Insurance Market Research Report
By Type
Employer-Supplied Disability Insurance, Individual Disability Insurance, High-Limit Disability Insurance, Business Overhead Expense Disability Insurance, Others
By Application
Government, Enterprise, Others
By Companies
Allianz, Assicurazioni Generali, China Life Insurance, MetLife, PingAn, AXA, Sumitomo Life Insurance, Aegon, Dai-ichi Mutual Life Insurance, CPIC, Aviva, Munich Re Group, Zurich Financial Services, Nippon Life Insurance, Gerber Life Insurance, AIG, MetLife, State Farm, Aflac, AIA Group, AlfaStrakhovanie
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
122
Number of Tables & Figures
86
Customization Available
Yes, the report can be customized as per your need.
Global Disability Insurance Market Report Segments:
The global Disability Insurance market is segmented on the basis of:
Types
Employer-Supplied Disability Insurance, Individual Disability Insurance, High-Limit Disability Insurance, Business Overhead Expense Disability Insurance, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Government, Enterprise, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Allianz
- Assicurazioni Generali
- China Life Insurance
- MetLife
- PingAn
- AXA
- Sumitomo Life Insurance
- Aegon
- Dai-ichi Mutual Life Insurance
- CPIC
- Aviva
- Munich Re Group
- Zurich Financial Services
- Nippon Life Insurance
- Gerber Life Insurance
- AIG
- MetLife
- State Farm
- Aflac
- AIA Group
- AlfaStrakhovanie
Highlights of The Disability Insurance Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Employer-Supplied Disability Insurance
- Individual Disability Insurance
- High-Limit Disability Insurance
- Business Overhead Expense Disability Insurance
- Others
- By Application:
- Government
- Enterprise
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Disability Insurance Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Disability insurance is a type of insurance that helps protect individuals who are unable to work due to a physical or mental disability. Disability insurance can help cover the costs associated with living expenses, such as rent, food, and medical bills.
Some of the major companies in the disability insurance market are Allianz, Assicurazioni Generali, China Life Insurance, MetLife, PingAn, AXA, Sumitomo Life Insurance, Aegon, Dai-ichi Mutual Life Insurance, CPIC, Aviva, Munich Re Group, Zurich Financial Services, Nippon Life Insurance, Gerber Life Insurance, AIG, MetLife, State Farm, Aflac, AIA Group, AlfaStrakhovanie.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Disability Insurance Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Disability Insurance Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Disability Insurance Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Disability Insurance Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Disability Insurance Market Size & Forecast, 2020-2028
4.5.1 Disability Insurance Market Size and Y-o-Y Growth
4.5.2 Disability Insurance Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Employer-Supplied Disability Insurance
5.2.2 Individual Disability Insurance
5.2.3 High-Limit Disability Insurance
5.2.4 Business Overhead Expense Disability Insurance
5.2.5 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Government
6.2.2 Enterprise
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Disability Insurance Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Disability Insurance Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Employer-Supplied Disability Insurance
9.6.2 Individual Disability Insurance
9.6.3 High-Limit Disability Insurance
9.6.4 Business Overhead Expense Disability Insurance
9.6.5 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Government
9.10.2 Enterprise
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Employer-Supplied Disability Insurance
10.6.2 Individual Disability Insurance
10.6.3 High-Limit Disability Insurance
10.6.4 Business Overhead Expense Disability Insurance
10.6.5 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Government
10.10.2 Enterprise
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Employer-Supplied Disability Insurance
11.6.2 Individual Disability Insurance
11.6.3 High-Limit Disability Insurance
11.6.4 Business Overhead Expense Disability Insurance
11.6.5 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Government
11.10.2 Enterprise
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Employer-Supplied Disability Insurance
12.6.2 Individual Disability Insurance
12.6.3 High-Limit Disability Insurance
12.6.4 Business Overhead Expense Disability Insurance
12.6.5 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Government
12.10.2 Enterprise
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Employer-Supplied Disability Insurance
13.6.2 Individual Disability Insurance
13.6.3 High-Limit Disability Insurance
13.6.4 Business Overhead Expense Disability Insurance
13.6.5 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Government
13.10.2 Enterprise
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Disability Insurance Market: Competitive Dashboard
14.2 Global Disability Insurance Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Allianz
14.3.2 Assicurazioni Generali
14.3.3 China Life Insurance
14.3.4 MetLife
14.3.5 PingAn
14.3.6 AXA
14.3.7 Sumitomo Life Insurance
14.3.8 Aegon
14.3.9 Dai-ichi Mutual Life Insurance
14.3.10 CPIC
14.3.11 Aviva
14.3.12 Munich Re Group
14.3.13 Zurich Financial Services
14.3.14 Nippon Life Insurance
14.3.15 Gerber Life Insurance
14.3.16 AIG
14.3.17 MetLife
14.3.18 State Farm
14.3.19 Aflac
14.3.20 AIA Group
14.3.21 AlfaStrakhovanie
