PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1744473
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1744473
Global Group Level Term Insurance Market Size Study & Forecast, by Type of Coverage, Size of Group, Industry Sector and Regional Forecasts 2022-2032
The Global Group Level Term Insurance Market is valued at approximately USD 174.73 billion in 2024 and is poised to expand at a remarkable CAGR of 10.50% during the forecast period from 2025 to 2035. As organizations worldwide strive to enhance employee welfare, manage risk, and streamline benefits, group level term insurance has emerged as a pivotal tool in corporate financial planning. Offering protection at scale, this type of policy ensures uniform coverage for employees while mitigating individual underwriting complexities. As businesses scale and employee wellbeing becomes a competitive differentiator, demand for flexible, cost-efficient, and customizable group insurance solutions is experiencing a substantial upsurge.
Driving this market upward is the accelerated shift among corporates-especially in sectors such as healthcare, government, and technology-toward offering comprehensive employee benefits. Group policies, whether term life, whole life, or universal plans, are being tailored with greater benefit-level options like supplemental and enhanced coverage tiers. Furthermore, insurers are leveraging AI-powered underwriting, digital claims management, and predictive analytics to automate premium collection (across monthly, quarterly, and single-payment modes) and risk assessments, fostering smoother policyholder engagement. The growth of SMEs and increasing financial literacy across emerging economies are further igniting the proliferation of group insurance schemes.
Geographically, North America is projected to dominate the Group Level Term Insurance Market by 2025, underpinned by a highly structured regulatory environment, corporate focus on employee retention, and widespread acceptance of group life products. Meanwhile, Europe follows closely, driven by social security policies, public-private insurance partnerships, and aging workforce dynamics. However, Asia Pacific is expected to chart the fastest growth trajectory, fueled by booming employment markets in India and Southeast Asia, an expanding middle class, and digitized insurance ecosystems. Latin America and the Middle East & Africa are anticipated to offer untapped potential as local enterprises evolve and governments advocate for structured workforce coverage through incentives.
Major market players included in this report are:
- MetLife, Inc.
- Prudential Financial, Inc.
- AIA Group Limited
- Manulife Financial Corporation
- Sun Life Financial Inc.
- AXA S.A.
- Aviva plc
- Zurich Insurance Group
- Cigna Corporation
- Allianz SE
- Legal & General Group plc
- The Dai-ichi Life Insurance Company, Limited
- Reliance Nippon Life Insurance Company
- UnitedHealth Group Incorporated
- New York Life Insurance Company
Global Group Level Term Insurance Market Report Scope:
- Historical Data - 2023, 2024
- Base Year for Estimation - 2024
- Forecast period - 2025-2035
- Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope - Free report customization (equivalent up to 8 analysts' working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study. The report also provides detailed information about crucial aspects, such as driving factors and challenges, which will define the future growth of the market. Additionally, it incorporates potential opportunities in micro-markets for stakeholders to invest, along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segments of the market are explained below:
By Type of Coverage:
- Term Life Insurance
- Whole Life Insurance
- Universal Life Insurance
- Variable Life Insurance
By Size of Group:
- Small Groups (2-50 Employees)
- Medium Groups (51-100 Employees)
- Large Groups (101+ Employees)
By Industry Sector:
- Healthcare
- Education
- Government
- Manufacturing
- Technology
By Premium Payment Method:
- Monthly
- Quarterly
- Annually
- Single Premium
By Benefit Level:
- Basic Coverage
- Enhanced Coverage
- Supplemental Coverage
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2025 to 2035.
- Annualized revenues and regional level analysis for each market segment.
- Detailed analysis of geographical landscape with Country level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of competitive structure of the market.
- Demand side and supply side analysis of the market.
Table of Contents
Chapter 1. Global Group Level Term Insurance Market Report Scope & Methodology
- 1.1. Research Objective
- 1.2. Research Methodology
- 1.2.1. Forecast Model
- 1.2.2. Desk Research
- 1.2.3. Top-Down and Bottom-Up Approach
- 1.3. Research Attributes
- 1.4. Scope of the Study
- 1.4.1. Market Definition
- 1.4.2. Market Segmentation
- 1.5. Research Assumptions
- 1.5.1. Inclusion & Exclusion
- 1.5.2. Limitations
- 1.5.3. Years Considered for the Study
Chapter 2. Executive Summary
- 2.1. CEO/CXO Standpoint
- 2.2. Strategic Insights
- 2.3. ESG Analysis
- 2.4. Key Findings
Chapter 3. Global Group Level Term Insurance Market Forces Analysis
- 3.1. Market Forces Shaping the Global Group Level Term Insurance Market 2024-2035
- 3.2. Drivers
- 3.2.1. Corporate Emphasis on Employee Well-being
- 3.2.2. Regulatory Incentives for Group Coverage
- 3.2.3. Technological Advancements in Digital Underwriting
- 3.3. Restraints
- 3.3.1. Complexity of Risk Pooling and Underwriting
- 3.3.2. Premium Rate Volatility and Cost Pressures
- 3.4. Opportunities
- 3.4.1. Expansion into Emerging Economies
- 3.4.2. Customizable Benefit-Level Tiers
Chapter 4. Global Group Level Term Insurance Industry Analysis
- 4.1. Porter's Five Forces Model
- 4.1.1. Bargaining Power of Buyers
- 4.1.2. Bargaining Power of Suppliers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's Five Forces Forecast Model 2024-2035
- 4.3. PESTEL Analysis
- 4.3.1. Political
- 4.3.2. Economic
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top Investment Opportunities
- 4.5. Top Winning Strategies 2025
- 4.6. Market Share Analysis 2024-2025
- 4.7. Global Pricing Analysis and Trends 2025
- 4.8. Analyst Recommendations & Conclusion
Chapter 5. Global Group Level Term Insurance Market Size & Forecasts by Type of Coverage 2025-2035
- 5.1. Market Overview
- 5.2. Global Market Performance - Potential Analysis 2025
- 5.3. Term Life Insurance
- 5.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.3.2. Market Size Analysis, by Region, 2025-2035
- 5.4. Whole Life Insurance
- 5.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.4.2. Market Size Analysis, by Region, 2025-2035
- 5.5. Universal Life Insurance
- 5.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.5.2. Market Size Analysis, by Region, 2025-2035
- 5.6. Variable Life Insurance
- 5.6.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.6.2. Market Size Analysis, by Region, 2025-2035
Chapter 6. Global Group Level Term Insurance Market Size & Forecasts by Size of Group 2025-2035
- 6.1. Market Overview
- 6.2. Global Market Performance - Potential Analysis 2025
- 6.3. Small Groups (2-50 Employees)
- 6.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.3.2. Market Size Analysis, by Region, 2025-2035
- 6.4. Medium Groups (51-100 Employees)
- 6.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.4.2. Market Size Analysis, by Region, 2025-2035
- 6.5. Large Groups (101+ Employees)
- 6.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.5.2. Market Size Analysis, by Region, 2025-2035
Chapter 7. Global Group Level Term Insurance Market Size & Forecasts by Industry Sector 2025-2035
- 7.1. Market Overview
- 7.2. Global Market Performance - Potential Analysis 2025
- 7.3. Healthcare
- 7.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.3.2. Market Size Analysis, by Region, 2025-2035
- 7.4. Education
- 7.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.4.2. Market Size Analysis, by Region, 2025-2035
- 7.5. Government
- 7.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.5.2. Market Size Analysis, by Region, 2025-2035
- 7.6. Manufacturing
- 7.6.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.6.2. Market Size Analysis, by Region, 2025-2035
- 7.7. Technology
- 7.7.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.7.2. Market Size Analysis, by Region, 2025-2035
Chapter 8. Global Group Level Term Insurance Market Size & Forecasts by Premium Payment Method 2025-2035
- 8.1. Market Overview
- 8.2. Global Market Performance - Potential Analysis 2025
- 8.3. Monthly
- 8.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 8.3.2. Market Size Analysis, by Region, 2025-2035
- 8.4. Quarterly
- 8.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 8.4.2. Market Size Analysis, by Region, 2025-2035
- 8.5. Annually
- 8.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 8.5.2. Market Size Analysis, by Region, 2025-2035
- 8.6. Single Premium
- 8.6.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 8.6.2. Market Size Analysis, by Region, 2025-2035
Chapter 9. Global Group Level Term Insurance Market Size & Forecasts by Benefit Level 2025-2035
- 9.1. Market Overview
- 9.2. Global Market Performance - Potential Analysis 2025
- 9.3. Basic Coverage
- 9.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 9.3.2. Market Size Analysis, by Region, 2025-2035
- 9.4. Enhanced Coverage
- 9.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 9.4.2. Market Size Analysis, by Region, 2025-2035
- 9.5. Supplemental Coverage
- 9.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 9.5.2. Market Size Analysis, by Region, 2025-2035
Chapter 10. Global Group Level Term Insurance Market Size & Forecasts by Region 2025-2035
- 10.1. Global Market, Regional Snapshot
- 10.2. Top Leading & Emerging Countries
- 10.3. North America Market
- 10.3.1. U.S. Market
- 10.3.1.1. Segment Breakdown Size & Forecasts, 2025-2035
- 10.3.1.2. Coverage Type Breakdown Size & Forecasts, 2025-2035
- 10.3.2. Canada Market
- 10.3.2.1. Segment Breakdown Size & Forecasts, 2025-2035
- 10.3.2.2. Coverage Type Breakdown Size & Forecasts, 2025-2035
- 10.3.1. U.S. Market
- 10.4. Europe Market
- 10.4.1. UK Market
- 10.4.1.1. Segment Breakdown Size & Forecasts, 2025-2035
- 10.4.1.2. Coverage Type Breakdown Size & Forecasts, 2025-2035
- 10.4.2. Germany Market
- 10.4.2.1. Segment Breakdown Size & Forecasts, 2025-2035
- 10.4.2.2. Coverage Type Breakdown Size & Forecasts, 2025-2035
- 10.4.3. France Market
- 10.4.3.1. Segment Breakdown Size & Forecasts, 2025-2035
- 10.4.3.2. Coverage Type Breakdown Size & Forecasts, 2025-2035
- 10.4.4. Spain Market
- 10.4.4.1. Segment Breakdown Size & Forecasts, 2025-2035
- 10.4.4.2. Coverage Type Breakdown Size & Forecasts, 2025-2035
- 10.4.5. Italy Market
- 10.4.5.1. Segment Breakdown Size & Forecasts, 2025-2035
- 10.4.5.2. Coverage Type Breakdown Size & Forecasts, 2025-2035
- 10.4.6. Rest of Europe Market
- 10.4.6.1. Segment Breakdown Size & Forecasts, 2025-2035
- 10.4.6.2. Coverage Type Breakdown Size & Forecasts, 2025-2035
- 10.4.1. UK Market
- 10.5. Asia Pacific Market
- 10.5.1. China Market
- 10.5.1.1. Segment Breakdown Size & Forecasts, 2025-2035
- 10.5.1.2. Coverage Type Breakdown Size & Forecasts, 2025-2035
- 10.5.2. India Market
- 10.5.2.1. Segment Breakdown Size & Forecasts, 2025-2035
- 10.5.2.2. Coverage Type Breakdown Size & Forecasts, 2025-2035
- 10.5.3. Japan Market
- 10.5.3.1. Segment Breakdown Size & Forecasts, 2025-2035
- 10.5.3.2. Coverage Type Breakdown Size & Forecasts, 2025-2035
- 10.5.4. Australia Market
- 10.5.4.1. Segment Breakdown Size & Forecasts, 2025-2035
- 10.5.4.2. Coverage Type Breakdown Size & Forecasts, 2025-2035
- 10.5.5. South Korea Market
- 10.5.5.1. Segment Breakdown Size & Forecasts, 2025-2035
- 10.5.5.2. Coverage Type Breakdown Size & Forecasts, 2025-2035
- 10.5.6. Rest of Asia Pacific Market
- 10.5.6.1. Segment Breakdown Size & Forecasts, 2025-2035
- 10.5.6.2. Coverage Type Breakdown Size & Forecasts, 2025-2035
- 10.5.1. China Market
- 10.6. Latin America Market
- 10.6.1. Brazil Market
- 10.6.1.1. Segment Breakdown Size & Forecasts, 2025-2035
- 10.6.1.2. Coverage Type Breakdown Size & Forecasts, 2025-2035
- 10.6.2. Mexico Market
- 10.6.2.1. Segment Breakdown Size & Forecasts, 2025-2035
- 10.6.2.2. Coverage Type Breakdown Size & Forecasts, 2025-2035
- 10.6.1. Brazil Market
- 10.7. Middle East & Africa Market
- 10.7.1. UAE Market
- 10.7.1.1. Segment Breakdown Size & Forecasts, 2025-2035
- 10.7.1.2. Coverage Type Breakdown Size & Forecasts, 2025-2035
- 10.7.2. Saudi Arabia Market
- 10.7.2.1. Segment Breakdown Size & Forecasts, 2025-2035
- 10.7.2.2. Coverage Type Breakdown Size & Forecasts, 2025-2035
- 10.7.3. South Africa Market
- 10.7.3.1. Segment Breakdown Size & Forecasts, 2025-2035
- 10.7.3.2. Coverage Type Breakdown Size & Forecasts, 2025-2035
- 10.7.4. Rest of Middle East & Africa Market
- 10.7.4.1. Segment Breakdown Size & Forecasts, 2025-2035
- 10.7.4.2. Coverage Type Breakdown Size & Forecasts, 2025-2035
- 10.7.1. UAE Market
Chapter 11. Competitive Intelligence
- 11.1. Top Market Strategies
- 11.2. MetLife, Inc.
- 11.2.1. Company Overview
- 11.2.2. Key Executives
- 11.2.3. Company Snapshot
- 11.2.4. Financial Performance (Subject to Data Availability)
- 11.2.5. Product/Services Portfolio
- 11.2.6. Recent Development
- 11.2.7. Market Strategies
- 11.2.8. SWOT Analysis
- 11.3. Prudential Financial, Inc.
- 11.4. AIA Group Limited
- 11.5. Manulife Financial Corporation
- 11.6. Sun Life Financial Inc.
- 11.7. AXA S.A.
- 11.8. Aviva plc
- 11.9. Zurich Insurance Group
- 11.10. Cigna Corporation
- 11.11. Allianz SE
- 11.12. Legal & General Group plc
- 11.13. The Dai-ichi Life Insurance Company, Limited
- 11.14. Reliance Nippon Life Insurance Company
- 11.15. UnitedHealth Group Incorporated
- 11.16. New York Life Insurance Company
