Market Overview:
The global home life insurance market is segmented on the basis of type, application and region. The type segment is further divided into life support, health support, pension annuity, survival annuity and accidental support. The application segment is further divided into child, adult and elder. The regional segment is divided into North America, Latin America, Europe Asia Pacific and Middle East & Africa. The global home life insurance market size was valued at US$ XX million in 2017 and is projected to reach US$ XX million by 2030 at a CAGR of X%. Rising awareness about the benefits of home life insurance among consumers across the globe are expected to drive the growth of this market during the forecast period. On the basis of type, the global home life insurance market has been classified into five segments: Life Support Insurance policies protect individuals from losing their income in case they die prematurely or become disabled due to an accident or illness; Health Support Insurance policies provide coverage for medical expenses that are not covered by regular health insurance plans; Pension Annuity Policies offer a guaranteed monthly income after retirement age; Survival Annuity Policies provide a lump sum payment either on death or maturity (usually at age 80) depending on policy terms chosen; Accidental Death Benefit Policies offer financial assistance in case an individual dies as a result of an accident.
Product Definition:
Home life insurance is a type of policy that provides coverage in the event that someone dies while inside their home. This type of policy can also provide coverage for things like fires and natural disasters. The importance of home life insurance lies in the fact that it can help protect your family from losing their home if something happens to you.
Life Support:
Life support services are the ones that help in maintaining or restoring a patient's vital functions when medical assistance is not available. These services also include artificial ventilation, blood transfusion, administration of drugs and fluids, removal of foreign objects from the body (such as packing), and other supportive measures like physical examination.
Health Support:
Health support is a type of insurance that helps pay for medical and surgical expenses, such as hospitalization. The health support and it's usage in the home life insurance market is expected to grow at a significant rate over the forecast period. This growth can be attributed to factors such as increasing healthcare costs, growing geriatric population base, rising prevalence of chronic diseases leading to expensive treatment procedures/hospitalization etc., which are some high impact rendering drivers for this market.
Application Insights:
The global home life insurance market by application is segmented into the child, adult, and elder segments. The child segment held the largest share in 2016. This can be attributed to increasing number of parents opting for a cashless gift option for their children so that they can manage their savings better. Parents are also concerned about providing financial security to their children in case of emergencies or if they lose their jobs.
The adult segment is expected to witness significant growth over the forecast period due to rising disposable income among individuals across various regions including Asia Pacific and Middle East & Africa countries such as UAE, Saudi Arabia, Oman etc., who have higher risk taking ability than other adults globally speaking which increases chances of being hit by an unforeseen event like illness or unemployment leading them towards seeking home insurance cover from a domestic insurer thereby driving demand globally over the forecast period.
Regional Analysis:
Asia Pacific dominated the global market in 2018 and is expected to continue its dominance over the forecast period. This can be attributed to increasing disposable income, growing population, improving standard of living coupled with a high percentage of self-financing policies. The region is expected to account for approximately 45% share by 2030 owing to an increase in premium revenue from existing customers as well as new customer penetration.
Health support accounted for majority share in the Asia Pacific home life insurance market due to rising prevalence of chronic diseases such as cardiovascular disorders, cancer.
Growth Factors:
- Increasing awareness about the benefits of life insurance: There is a growing awareness about the importance of life insurance and its various benefits among people across different age groups and income levels. This is driving demand for life insurance products, thereby providing growth opportunities for the home life insurance market.
- Rising number of nuclear families: The trend of nuclear families is increasing in developed countries, which is resulting in smaller households with fewer members to financially support in case of an unexpected death. This is leading to increased demand for home life insurance policies as they provide financial protection against such risks.
- Growing preference for online purchase channels: Home life insurers are offering their products through online purchase channels to cater to the growing preference among consumers for buying goods and services online. This has helped increase sales revenues and expand customer base for home insurers, thereby fuelling market growth.
Scope Of The Report
Report Attributes
Report Details
Report Title
Home Life Insurance Market Research Report
By Type
Life Support, Health Support, Pension Annuity, Survival Annuity, Accidental Support
By Application
Global Home Life Insurance Market Share by Consumer Group: 2016 VS 2021 VS 2027, Child, Adult, Elder
By Companies
Ping An, AIA, China Life, Nippon Life, Generali, AVIVA, Munich Re, ZURICH, CPIC, PICC, LIC, Metlife, Canada Life, Allianz, Anthem
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
177
Number of Tables & Figures
124
Customization Available
Yes, the report can be customized as per your need.
Global Home Life Insurance Market Report Segments:
The global Home Life Insurance market is segmented on the basis of:
Types
Life Support, Health Support, Pension Annuity, Survival Annuity, Accidental Support
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
Global Home Life Insurance Market Share by Consumer Group: 2016 VS 2021 VS 2027, Child, Adult, Elder
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:
- Ping An
- AIA
- China Life
- Nippon Life
- Generali
- AVIVA
- Munich Re
- ZURICH
- CPIC
- PICC
- LIC
- Metlife
- Canada Life
- Allianz
- Anthem
Highlights of The Home Life 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:
- Life Support
- Health Support
- Pension Annuity
- Survival Annuity
- Accidental Support
- By Application:
- Global Home Life Insurance Market Share by Consumer Group: 2016 VS 2021 VS 2027
- Child
- Adult
- Elder
- 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 Home Life 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.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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- Identifying Appropriate Advertising Appeals
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?
Home life insurance is a type of insurance that helps protect your home from financial losses in the event of your death. Home life insurance can help pay for funeral expenses, cover the costs of replacing your home, and provide a financial safety net for your family.
Some of the key players operating in the home life insurance market are Ping An, AIA, China Life, Nippon Life, Generali, AVIVA, Munich Re, ZURICH, CPIC, PICC, LIC, Metlife, Canada Life, Allianz, Anthem.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Home Life 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 Home Life Insurance Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Home Life 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 Home Life 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 Home Life Insurance Market Size & Forecast, 2020-2028
4.5.1 Home Life Insurance Market Size and Y-o-Y Growth
4.5.2 Home Life 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 Life Support
5.2.2 Health Support
5.2.3 Pension Annuity
5.2.4 Survival Annuity
5.2.5 Accidental Support
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 Global Home Life Insurance Market Share by Consumer Group: 2016 VS 2021 VS 2027
6.2.2 Child
6.2.3 Adult
6.2.4 Elder
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Home Life 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 Home Life 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 Life Support
9.6.2 Health Support
9.6.3 Pension Annuity
9.6.4 Survival Annuity
9.6.5 Accidental Support
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 Global Home Life Insurance Market Share by Consumer Group: 2016 VS 2021 VS 2027
9.10.2 Child
9.10.3 Adult
9.10.4 Elder
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 Life Support
10.6.2 Health Support
10.6.3 Pension Annuity
10.6.4 Survival Annuity
10.6.5 Accidental Support
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 Global Home Life Insurance Market Share by Consumer Group: 2016 VS 2021 VS 2027
10.10.2 Child
10.10.3 Adult
10.10.4 Elder
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 Life Support
11.6.2 Health Support
11.6.3 Pension Annuity
11.6.4 Survival Annuity
11.6.5 Accidental Support
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 Global Home Life Insurance Market Share by Consumer Group: 2016 VS 2021 VS 2027
11.10.2 Child
11.10.3 Adult
11.10.4 Elder
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 Life Support
12.6.2 Health Support
12.6.3 Pension Annuity
12.6.4 Survival Annuity
12.6.5 Accidental Support
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 Global Home Life Insurance Market Share by Consumer Group: 2016 VS 2021 VS 2027
12.10.2 Child
12.10.3 Adult
12.10.4 Elder
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 Life Support
13.6.2 Health Support
13.6.3 Pension Annuity
13.6.4 Survival Annuity
13.6.5 Accidental Support
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 Global Home Life Insurance Market Share by Consumer Group: 2016 VS 2021 VS 2027
13.10.2 Child
13.10.3 Adult
13.10.4 Elder
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 Home Life Insurance Market: Competitive Dashboard
14.2 Global Home Life Insurance Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Ping An
14.3.2 AIA
14.3.3 China Life
14.3.4 Nippon Life
14.3.5 Generali
14.3.6 AVIVA
14.3.7 Munich Re
14.3.8 ZURICH
14.3.9 CPIC
14.3.10 PICC
14.3.11 LIC
14.3.12 Metlife
14.3.13 Canada Life
14.3.14 Allianz
14.3.15 Anthem
