The Worldwide Disability Insurance Industry is Estimated to Reach $9.2 Billion by 2031 - ResearchAndMarkets.com

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According to this report the disability insurance market was valued at $3.3 billion in 2021, and is estimated to reach $9.2 billion by 2031, growing at a CAGR of 11.2% from 2022 to 2031.

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Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Monday, January 9, 2023
Information
Tags: 
Professional Services, Health, Insurance, Other Health, Porter's five forces analysis, DI, Government, Occupation, Growth, Risk, Insurance, Disability, Benchmarking, Health insurance, Ridesharing company
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RESEARCH AND MARKETS
Summary
Key Points: 
  • According to this report the disability insurance market was valued at $3.3 billion in 2021, and is estimated to reach $9.2 billion by 2031, growing at a CAGR of 11.2% from 2022 to 2031.
  • Rising awareness about the benefits of disability insurance policies and tax benefits under various sections of the income tax act is boosting the growth of the global disability insurance market.
  • In addition, development of new offers and schemes by insurance companies is positively impacts growth of the disability insurance market.
  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the disability insurance market analysis from 2021 to 2031 to identify the prevailing disability insurance market opportunities.


The "Disability Insurance Market By Insurance Type, By End User, By Coverage Type: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.

According to this report the disability insurance market was valued at $3.3 billion in 2021, and is estimated to reach $9.2 billion by 2031, growing at a CAGR of 11.2% from 2022 to 2031.

Disability insurance, often called DI or disability income insurance, or income protection, is a form of insurance that insures the beneficiary's earned income against the risk that a disability creates a barrier for completion of core work functions. In addition, those whose employers do not provide benefits, and self-employed individuals who desire disability coverage, may purchase policies themselves.

Moreover, premiums and available benefits for individual coverage vary considerably between companies, occupations, states, and countries. In general, premiums are higher for policies that provide more monthly benefits, offer benefits for longer periods of time, and start payments of benefits more quickly following a disability claim.

Rising awareness about the benefits of disability insurance policies and tax benefits under various sections of the income tax act is boosting the growth of the global disability insurance market. In addition, development of new offers and schemes by insurance companies is positively impacts growth of the disability insurance market.

However, lack of awareness among the customers is hampering the disability insurance market growth. On the contrary, increasing government support for medical and health insurance is expected to offer remunerative opportunities for expansion of the disability insurance market during the forecast period.

Key Benefits

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the disability insurance market analysis from 2021 to 2031 to identify the prevailing disability insurance market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the disability insurance market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global disability insurance market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Insurance Type

  • Individual Disability Insurance
  • High Limit Disability Insurance
  • Business Overhead Expense Disability Insurance
  • Others
  • Employer Supplied Disability Insurance

By End User

  • Government
  • Enterprise
  • Individual
  • Individual Type
  • Male
  • Female

By Coverage Type

  • Short Term Disability Insurance
  • Long Term Disability Insurance

By Region

  • North America
  • U.S
  • Canada
  • Europe
  • UK
  • Germany
  • Netherlands
  • France
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • Mexico
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA

Key Market Players

  • AEGON N.V.
  • Assurity Group, Inc.
  • Allianz SE
  • assicurazioni generali spa
  • Aviva plc
  • AXA Group
  • Guardian Life Insurance Company
  • Illinois Mutual
  • Petersen International Underwriters (PIU)
  • Massmutual
  • Mutual of Omaha
  • MetLife Services and Solutions, LLC .
  • Ping An Insurance
  • Nippon life insurance
  • Zurich Insurance Group
  • Asteya
  • Ahana

For more information about this report visit https://www.researchandmarkets.com/r/i8t81v

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