Term Insurance Market Size, Share, and Trends 2025 to 2034

The global term insurance market is projected to grow from USD 2.05 trillion in 2025 to USD 4.42 trillion by 2034, registering a robust CAGR of 8.92%. Asia-Pacific leads with over 34% market share in 2024, while Europe is set to grow fastest. Key drivers include digital transformation, growing awareness, flexible policy options, and emerging insurtech advancements.

Last Updated : July 2025  |  Report Code : 3989  |  Category : Healthcare  |  Format : PDF / PPT / Excel

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology (Premium Insights)

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis 

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Term Insurance Market 

5.1. COVID-19 Landscape: Term Insurance Industry Impact

5.2. COVID 19 - Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Term Insurance Market, By Type

8.1. Term Insurance Market, by Type

8.1.1. Individual Level Term Life Insurance

8.1.1.1. Market Revenue and Forecast

8.1.2. Group Level Term Life Insurance

8.1.2.1. Market Revenue and Forecast

8.1.3. Decreasing Term Life Insurance

8.1.3.1. Market Revenue and Forecast

Chapter 9. Global Term Insurance Market, By Distribution Channel

9.1. Term Insurance Market, by Distribution Channel

9.1.1. Tied Agents & Branches

9.1.1.1. Market Revenue and Forecast

9.1.2. Brokers

9.1.2.1. Market Revenue and Forecast

9.1.3. Others

9.1.3.1. Market Revenue and Forecast

Chapter 10. Global Term Insurance Market, Regional Estimates and Trend Forecast

10.1. North America

10.1.1. Market Revenue and Forecast, by Type

10.1.2. Market Revenue and Forecast, by Distribution Channel

10.1.3. U.S.

10.1.3.1. Market Revenue and Forecast, by Type

10.1.3.2. Market Revenue and Forecast, by Distribution Channel

10.1.4. Rest of North America

10.1.4.1. Market Revenue and Forecast, by Type

10.1.4.2. Market Revenue and Forecast, by Distribution Channel

10.2. Europe

10.2.1. Market Revenue and Forecast, by Type

10.2.2. Market Revenue and Forecast, by Distribution Channel

10.2.3. UK

10.2.3.1. Market Revenue and Forecast, by Type

10.2.3.2. Market Revenue and Forecast, by Distribution Channel

10.2.4. Germany

10.2.4.1. Market Revenue and Forecast, by Type

10.2.4.2. Market Revenue and Forecast, by Distribution Channel

10.2.5. France

10.2.5.1. Market Revenue and Forecast, by Type

10.2.5.2. Market Revenue and Forecast, by Distribution Channel

10.2.6. Rest of Europe

10.2.6.1. Market Revenue and Forecast, by Type

10.2.6.2. Market Revenue and Forecast, by Distribution Channel

10.3. APAC

10.3.1. Market Revenue and Forecast, by Type

10.3.2. Market Revenue and Forecast, by Distribution Channel

10.3.3. India

10.3.3.1. Market Revenue and Forecast, by Type

10.3.3.2. Market Revenue and Forecast, by Distribution Channel

10.3.4. China

10.3.4.1. Market Revenue and Forecast, by Type

10.3.4.2. Market Revenue and Forecast, by Distribution Channel

10.3.5. Japan

10.3.5.1. Market Revenue and Forecast, by Type

10.3.5.2. Market Revenue and Forecast, by Distribution Channel

10.3.6. Rest of APAC

10.3.6.1. Market Revenue and Forecast, by Type

10.3.6.2. Market Revenue and Forecast, by Distribution Channel

10.4. MEA

10.4.1. Market Revenue and Forecast, by Type

10.4.2. Market Revenue and Forecast, by Distribution Channel

10.4.3. GCC

10.4.3.1. Market Revenue and Forecast, by Type

10.4.3.2. Market Revenue and Forecast, by Distribution Channel

10.4.4. North Africa

10.4.4.1. Market Revenue and Forecast, by Type

10.4.4.2. Market Revenue and Forecast, by Distribution Channel

10.4.5. South Africa

10.4.5.1. Market Revenue and Forecast, by Type

10.4.5.2. Market Revenue and Forecast, by Distribution Channel

10.4.6. Rest of MEA

10.4.6.1. Market Revenue and Forecast, by Type

10.4.6.2. Market Revenue and Forecast, by Distribution Channel

10.5. Latin America

10.5.1. Market Revenue and Forecast, by Type

10.5.2. Market Revenue and Forecast, by Distribution Channel

10.5.3. Brazil

10.5.3.1. Market Revenue and Forecast, by Type

10.5.3.2. Market Revenue and Forecast, by Distribution Channel

10.5.4. Rest of LATAM

10.5.4.1. Market Revenue and Forecast, by Type

10.5.4.2. Market Revenue and Forecast, by Distribution Channel

Chapter 11. Company Profiles

11.1. MetLife (United States)

11.1.1. Company Overview

11.1.2. Product Offerings

11.1.3. Financial Performance

11.1.4. Recent Initiatives

11.2. AIA Group Limited (Hong Kong)

11.2.1. Company Overview

11.2.2. Product Offerings

11.2.3. Financial Performance

11.2.4. Recent Initiatives

11.3. Prudential Financial Inc. (United States)

11.3.1. Company Overview

11.3.2. Product Offerings

11.3.3. Financial Performance

11.3.4. Recent Initiatives

11.4. Manulife Financial Corporation (Canada)

11.4.1. Company Overview

11.4.2. Product Offerings

11.4.3. Financial Performance

11.4.4. Recent Initiatives

11.5. China Life Insurance Company Limited (China)

11.5.1. Company Overview

11.5.2. Product Offerings

11.5.3. Financial Performance

11.5.4. Recent Initiatives

11.6. Allianz SE (Germany)

11.6.1. Company Overview

11.6.2. Product Offerings

11.6.3. Financial Performance

11.6.4. Recent Initiatives

11.7. New York Life Insurance Company (United States)

11.7.1. Company Overview

11.7.2. Product Offerings

11.7.3. Financial Performance

11.7.4. Recent Initiatives

11.8. Japan Post Holdings Co., Ltd. (Japan)

11.8.1. Company Overview

11.8.2. Product Offerings

11.8.3. Financial Performance

11.8.4. Recent Initiatives

11.9. Ping An Insurance (Group) Company of China, Ltd. (China)

11.9.1. Company Overview

11.9.2. Product Offerings

11.9.3. Financial Performance

11.9.4. Recent Initiatives

11.10. Northwestern Mutual Life Insurance Company (United States)

11.10.1. Company Overview

11.10.2. Product Offerings

11.10.3. Financial Performance

11.10.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research

12.2. Secondary Research

12.3. Assumptions

Chapter 13. Appendix

13.1. About Us

13.2. Glossary of Terms

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Frequently Asked Questions

The global term insurance market size is expected to increase USD 4.42 trillion by 2034 from USD 1.88 trillion in 2024.

The global term insurance market will register growth rate of 8.92% between 2025 and 2034.

The major players operating in the term insurance market are MetLife, AIA Group Limited, Prudential Financial Inc., Manulife Financial Corporation, China Life Insurance Company Limited, Allianz SE, New York Life Insurance Company, Japan Post Holdings Co., Ltd., Ping An Insurance (Group) Company of China, Ltd., Northwestern Mutual Life Insurance Company, State Farm Mutual Automobile Insurance Company, AXA S.A., Dai-ichi Life Holdings, Inc., Zurich Insurance Group Ltd., LIC (Life Insurance Corporation of India), and Othrs.

The driving factors of the term insurance market are the demand for insurance products and influence of digital transformation.

Asia Pacific region will lead the global term insurance market during the forecast period 2025 to 2034.

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