Term Insurance Market Distributor Analysis and Forecasts 2028
Term Insurance Market Growth & Trends The global term insurance market size is expected to reach USD 1,353.1 billion by 2028, registering a CAGR of 6.9% from 2022 to 2028, according to a new report by Grand View Research, Inc. The growing middle-class population in developing economies like China, India, and Brazil is propelling the demand for term insurance. Term Insurance Market Segmentation Grand View Research has segmented the global term insurance market based on type, distribution channel, and region. Based on the Type Insights, the market is segmented into Individual Level Term Life Insurance, Group Level Term Life Insurance and Decreasing Term Life Insurance. The individual-level segment contributed to the highest share of over 75% of the global market revenue in 2021. Rising investment in the insurance sector by various companies is propelling the growth of individual-level term life insurance. Moreover, the sum assured and premiums that are payable rem...