USA Life-Annuity Consumer Markets 2021: Measuring the Insurer Opportunity
February 15, 2022 by Research and Markets
DUBLIN, Feb. 9, 2022 /PRNewswire/ — The “2021: Life-Annuity Consumer Markets” report has been added to ResearchAndMarkets.com’s offering.
The life insurance protection gap has widened to a relatively large amount, $23.4 trillion, which is equivalent to over 60% of the current in force individual life insurance.
Due to Covid-19, ll three adult generations saw increased mortality, though most excess mortality for Baby Boomers came from Covid-19, while younger adults (Generation X and Millennials) had excess mortality driven by non-Covid-19 causes, potentially a result of economic pressure on these segments.
Three major cultural markets in the U.S. (Hispanics, African-Americans, and Asian-Americans) saw excess mortality disproportionate to the overall population, with some differences driven by differing geographic impacts. These three segments have long been underinsured compared to the rest of the U.S. consumer markets and are key to future insurer growth.
Readers can use this report to:
- Understand how the Covid-19 pandemic has created opportunities and challenges for life-annuity insurers across different market segments
- Learn about long-term demographic trends shaping the U.S. life annuity consumer market
- Uncover why the life insurance protection gap keeps increasing
- Analyze increased mortality rates stemming from the pandemic year, by demographic group
- Define how the Hispanic, African-American, and Asian-American Consumer Markets are underinsured compared to the rest of the U.S. consumer markets
Key Topics Covered:
Measuring the Insurer Opportunity
- Key Takeaways
- Quantifying the Life Insurance Opportunity
- Quantifying the Retirement Market Opportunity
- Protection Gaps: Significance for Insurers
- Putting the Pieces of the U.S. Market Together
Affluent and Middle Markets
- Affluent and Middle Market Key Takeaways
- Wealth and Income Growth Rates Drive Segmentation
- Economic Segmentation of the Market
- The Affluent Market
- The Middle Market
Baby Boomers
- Baby Boomer Key Takeaways
- Generations and Life Stages
- Covid-19 Impact
- Demographic Profile
- Shrinking Generation, Shifting Needs
- Life Insurance Needs for Seniors
- Retirement Income Opportunities for Insurers: Rising Tide
- Opportunities and Challenges
Generation X
- Key Takeaways
- Sandwich Generation
- Covid-19 Impact
- Demographic Profile
- Peak of Income, Peak of Pressures
- Opportunities and Challenges
Millennials
- Key Takeaways
- Covid-19 Impact
- Demographic Profile
- Delayed Development – Lower Employment, Lower Income
- Opportunities, Challenges, and Consumer Expectations
Hispanic Market in the U.S.
- Key Takeaways
- Covid-19 Impact
- Demographic Profile
- Geographic Distribution
- Opportunities, Challenges, and Consumer Expectations
African-American Market
- Key Takeaways
- Covid-19 Impact
- Demographic Profile
- Geographic Distribution
- Opportunities and Challenges
Asian-American Market
- Key Takeaways
- Covid-19 Impact
- Demographic Profile
- Geographic Distribution
- Opportunities and Challenges
For more information about this report visit https://www.researchandmarkets.com/r/ah7l51
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Research and Markets
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SOURCE Research and Markets
