PUBLISHER: Allied Market Research | PRODUCT CODE: 1193210
PUBLISHER: Allied Market Research | PRODUCT CODE: 1193210
The critical illness insurance cover provides the insured with financial security against various life-threatening health conditions such as kidney failures, cardiovascular diseases, and cancer. Critical illness insurance cover includes a lump sum payment in case the insured is diagnosed with a listed illness.
Rise in number of health issues due to unhealthy lifestyle of people causes serious illness such as kidney failures, heart attack, cancer and other such serious illness have increased the demand for critical illness insurance coverage among consumers. In addition, rise in awareness about the benefits of a critical illness insurance coverage among consumers is a major driving factor for the market. Moreover, the cost of treatment without having an insurance coverage may lead to huge medical bills for which customers opt for the critical illness insurance. These are some of the factors propelling the growth of the critical illness insurance market. However, high amount of premium for the critical illness insurance is a major factor limiting the growth of the market. On the contrary, smooth experience offered by the insurance coverage pertaining to reimbursement of medical bills and cashless treatments at best hospitals without the worry of high fees charged for operation and treatments is expected to provide lucrative growth opportunities in the coming years.
The critical illness insurance market is segmented on the basis of application, premium mode, end user, and region. By application, it is classified into cancer, heart attack, stroke, and others. By premium mode, it is categorized into monthly, quarterly, half yearly, and yearly. By application, it is bifurcated into individual, and businesses. The businesses segment is further sub segmented into group policies and individual policies. The group policies segment is further divided into simplified issue policies, and fully underwritten policies. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in the critical illness insurance market such as Aegon, AFLAC INCORPORATED, Allianz Care, American International Group, Inc., Aviva, AXA Hong Kong, Bajaj Allianz General Insurance Co. Ltd., Cigna, Future Generali India Insurance Company Ltd., Legal & General Group plc, Liberty Mutual Insurance, MetLife Services and Solutions, LLC., Royal London, Sun Life Assurance Company of Canada, United HealthCare Services, Inc., Modern Insurance Agency, Inc., and Plum Benefits Private Limited. These players have adopted various strategies to increase their market penetration and strengthen their position in the critical illness insurance industry.
Key Benefits For Stakeholders
By Application
By Premium Mode
By End User
By Region