Equity Indexed Life Insurance Market Expected to Achieve 12.8% CAGR by 2029: Growth Forecast Insights

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How Large Will the Equity Indexed Life Insurance Market Size By 2025?
Rapid expansion has been witnessed in the equity indexed life insurance market size in the last few years. Projections indicate an upsurge from $3.99 billion in 2024 to $4.55 billion in 2025, translating to a compound annual growth rate (CAGR) of 13.9%. This growth during the historical period can be credited to factors such as diversification and customization of products, the need for cash value growth, market widening, competitive terrain, reactions to low-interest rates, and the development of indexed products.

How Big Is the Equity Indexed Life Insurance Market Size Expected to Grow by 2029?
The market size for equity indexed life insurance is projected to experience a swift increase in the coming years, with an estimate to reach $7.37 billion by 2029 at a compounding yearly expansion rate (CAGR) of 12.8%. This implied growth in the prediction period is due to factors like market instability reduction, a climbing demand in retirement preparation, innovation in product proposals, a surge in customer knowledge, and adaptations in the regulatory setting. Key trends expected within this projection period involve product novelty and combined solutions, incorporation of ESG (environmental, social, and governance) elements, enhancement in education and transparency, emphasis on accumulation and the growth of cash value, along with strategies to lessen risk.

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Which Key Market Drivers Powering Equity Indexed Life Insurance Market Expansion and Growth?
The expansion of the equity indexed life insurance market is projected to be fueled by increased access to insurance products and services. These refer to any service or product provided by a licensed entity under state insurance laws or a federal insurance program. Over the past few years, it's become easier to access insurance, especially with the rise in online sales of life and health insurance. What's more, equity-indexed life insurance has become increasingly popular because its premiums are typically more affordable than those of similar whole life insurance policies. As per data released by the Insurance Information Institute, a data-focused insurance industry group based in the US, in January 2022, property or casualty (P or C) insurer replacement costs are predicted to see an increase of 4.5% to 6.5% annually in 2023. As such, the greater accessibility of insurance products and services is a key factor propelling the growth of the equity indexed life insurance market.

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Which Fast-Growing Trends Are Poised to Disrupt the Equity Indexed Life Insurance Market?
Key players in the equity-indexed life insurance market are prioritizing the incorporation of innovative technological elements like the index lock. This feature enables policyholders to freeze or lock in the value of an index at a given point in time. With an index lock, policyholders can capture the present value of an index within a specified timeframe, aiding them in securing profits or minimizing losses in volatile markets. For example, Allianz Life, an American life insurance firm, unveiled the Allianz Life Accumulator Indexed Universal Life (IUL) Insurance Policy in July 2024. This novel product delivers increased accumulation potential, adaptable loan terms, along with an original index lock feature for improved risk control. It also presents three fresh index options, such as the S&P 500 Futures Index ER, Blended Futures Index, and Bloomberg US Dynamic Balance III ER Index. Moreover, the policy offers tailor-made choices, comprising tax-deferred accumulation, death benefits, and accelerated death benefit riders for chronic or terminal diseases.

What Are the Emerging Segments in the Equity Indexed Life Insurance Market?
The equity indexed life insurance market covered in this report is segmented -

1) By Type: Whole life insurance, Universal life insurance, Variable universal life insurance, Indexed universal life insurance, Other Types
2) By Mode: Online, Offline
3) By Distribution Channel: Agency, Brokers, Bancassurance, Digital And Indirect Channels

Subsegments:
1) By Whole Life Insurance: Participating Whole Life Insurance, Non-Participating Whole Life Insurance
2) By Universal Life Insurance: Guaranteed Universal Life Insurance, Flexible Premium Universal Life Insurance, Indexed Universal Life Insurance
3) By Variable Universal Life Insurance: Variable Universal Life With Guaranteed Minimum Death Benefit, Variable Universal Life Without Guaranteed Minimum Death Benefit
4) By Indexed Universal Life Insurance: Fixed Indexed Universal Life Insurance, Equity Indexed Universal Life Insurance
5) By Other Types: Survivorship Life Insurance, Group Life Insurance, Final Expense Insurance

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Who Are the Global Leaders in the Equity Indexed Life Insurance Market?
Major companies operating in the equity indexed life insurance market include AXA Equitable Life Insurance Company, Ping An Insurance Group Company of China Limited, Swiss Reinsurance Company Ltd., Prudential Financial Inc., American International Group Inc. (AIG), AIA Group Limited, Berkshire Hathaway Inc., MetLife Inc., Assicurazioni Generali S.p.A., Zurich Insurance Group AG, Munich Reinsurance America Inc., Chubb Limited, The Allstate Insurance Company, Aviva plc, Manulife Financial Corporation, China Pacific Insurance (Group) Co. Ltd., Aflac Incorporated, John Hancock Financial, Mutual of Omaha Insurance Company, The Penn Mutual Life Insurance Company, Progressive Casualty Insurance Company, Protective Life Corporation, Symetra Life Insurance Company, Minnesota Life Insurance Company, National Life Group, Pacific Life Insurance Company, Tata AIG General Insurance Company Limited, Bajaj Allianz Life Insurance Company Limited, The Guardian Life Insurance Company of America, Massachusetts Mutual Life Insurance Company, New York Life Insurance Company

Which are the Top Profitable Regional Markets for the Equity Indexed Life Insurance Industry?
The countries covered in the equity-indexed life insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

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