Group Life Insurance Market Size, Share, and Trends 2025 to 2034

The global group life insurance market size accounted for USD 164.40 billion in 2025 and is estimated to hit around USD 405.10 billion by 2034, representing a solid CAGR of 10.54% between 2025 and 2034. The market sizing and forecasts are revenue-based (USD Million/Billion), with 2024 as the base year.

Last Updated : May 2025  |  Report Code : 5326  |  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 Group Life Insurance Market 

5.1. COVID-19 Landscape: Group Life 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 Group Life Insurance Market, By Type of Coverage

8.1. Group Life Insurance Market, by Type of Coverage

8.1.1. Term Life Insurance

8.1.1.1. Market Revenue and Forecast

8.1.2. Whole Life Insurance

8.1.2.1. Market Revenue and Forecast

8.1.3. Universal Life Insurance

8.1.3.1. Market Revenue and Forecast

8.1.4. Variable Life Insurance

8.1.4.1. Market Revenue and Forecast

Chapter 9. Global Group Life Insurance Market, By Size of Group

9.1. Group Life Insurance Market, by Size of Group

9.1.1. Small Group (2-50 Employees)

9.1.1.1. Market Revenue and Forecast

9.1.2. Medium Group (51-100 Employees)

9.1.2.1. Market Revenue and Forecast

9.1.3. Large Group (101+ Employees)

9.1.3.1. Market Revenue and Forecast

Chapter 10. Global Group Life Insurance Market, By Industry Sector 

10.1. Group Life Insurance Market, by Industry Sector

10.1.1. Healthcare

10.1.1.1. Market Revenue and Forecast

10.1.2. Education

10.1.2.1. Market Revenue and Forecast

10.1.3. Government

10.1.3.1. Market Revenue and Forecast

10.1.4. Manufacturing

10.1.4.1. Market Revenue and Forecast

10.1.5. Technology

10.1.5.1. Market Revenue and Forecast

Chapter 11. Global Group Life Insurance Market, By Premium Payment Methods

11.1. Group Life Insurance Market, by Premium Payment Methods

11.1.1. Monthly

11.1.1.1. Market Revenue and Forecast

11.1.2. Quarterly

11.1.2.1. Market Revenue and Forecast

11.1.3. Annually

11.1.3.1. Market Revenue and Forecast

11.1.4. Single Premium

11.1.4.1. Market Revenue and Forecast

Chapter 12. Global Group Life Insurance Market, By Benefit Level

12.1. Group Life Insurance Market, by Benefit Level

12.1.1. Basic Coverage

12.1.1.1. Market Revenue and Forecast

12.1.2. Enhanced Coverage

12.1.2.1. Market Revenue and Forecast

12.1.3. Supplemental Coverage

12.1.3.1. Market Revenue and Forecast

Chapter 13. Global Group Life Insurance Market, Regional Estimates and Trend Forecast

13.1. North America

13.1.1. Market Revenue and Forecast, by Type of Coverage

13.1.2. Market Revenue and Forecast, by Size of Group

13.1.3. Market Revenue and Forecast, by Industry Sector

13.1.4. Market Revenue and Forecast, by Premium Payment Methods

13.1.5. Market Revenue and Forecast, by Benefit Level

13.1.6. U.S.

13.1.6.1. Market Revenue and Forecast, by Type of Coverage

13.1.6.2. Market Revenue and Forecast, by Size of Group

13.1.6.3. Market Revenue and Forecast, by Industry Sector

13.1.6.4. Market Revenue and Forecast, by Premium Payment Methods

13.1.6.5. Market Revenue and Forecast, by Benefit Level  

13.1.7. Rest of North America

13.1.7.1. Market Revenue and Forecast, by Type of Coverage

13.1.7.2. Market Revenue and Forecast, by Size of Group

13.1.7.3. Market Revenue and Forecast, by Industry Sector

13.1.7.4. Market Revenue and Forecast, by Premium Payment Methods

13.1.7.5. Market Revenue and Forecast, by Benefit Level

13.2. Europe

13.2.1. Market Revenue and Forecast, by Type of Coverage

13.2.2. Market Revenue and Forecast, by Size of Group

13.2.3. Market Revenue and Forecast, by Industry Sector

13.2.4. Market Revenue and Forecast, by Premium Payment Methods  

13.2.5. Market Revenue and Forecast, by Benefit Level  

13.2.6. UK

13.2.6.1. Market Revenue and Forecast, by Type of Coverage

13.2.6.2. Market Revenue and Forecast, by Size of Group

13.2.6.3. Market Revenue and Forecast, by Industry Sector

13.2.7. Market Revenue and Forecast, by Premium Payment Methods  

13.2.8. Market Revenue and Forecast, by Benefit Level  

13.2.9. Germany

13.2.9.1. Market Revenue and Forecast, by Type of Coverage

13.2.9.2. Market Revenue and Forecast, by Size of Group

13.2.9.3. Market Revenue and Forecast, by Industry Sector

13.2.10. Market Revenue and Forecast, by Premium Payment Methods

13.2.11. Market Revenue and Forecast, by Benefit Level

13.2.12. France

13.2.12.1. Market Revenue and Forecast, by Type of Coverage

13.2.12.2. Market Revenue and Forecast, by Size of Group

13.2.12.3. Market Revenue and Forecast, by Industry Sector

13.2.12.4. Market Revenue and Forecast, by Premium Payment Methods

13.2.13. Market Revenue and Forecast, by Benefit Level

13.2.14. Rest of Europe

13.2.14.1. Market Revenue and Forecast, by Type of Coverage

13.2.14.2. Market Revenue and Forecast, by Size of Group

13.2.14.3. Market Revenue and Forecast, by Industry Sector

13.2.14.4. Market Revenue and Forecast, by Premium Payment Methods

13.2.15. Market Revenue and Forecast, by Benefit Level

13.3. APAC

13.3.1. Market Revenue and Forecast, by Type of Coverage

13.3.2. Market Revenue and Forecast, by Size of Group

13.3.3. Market Revenue and Forecast, by Industry Sector

13.3.4. Market Revenue and Forecast, by Premium Payment Methods

13.3.5. Market Revenue and Forecast, by Benefit Level

13.3.6. India

13.3.6.1. Market Revenue and Forecast, by Type of Coverage

13.3.6.2. Market Revenue and Forecast, by Size of Group

13.3.6.3. Market Revenue and Forecast, by Industry Sector

13.3.6.4. Market Revenue and Forecast, by Premium Payment Methods

13.3.7. Market Revenue and Forecast, by Benefit Level

13.3.8. China

13.3.8.1. Market Revenue and Forecast, by Type of Coverage

13.3.8.2. Market Revenue and Forecast, by Size of Group

13.3.8.3. Market Revenue and Forecast, by Industry Sector

13.3.8.4. Market Revenue and Forecast, by Premium Payment Methods

13.3.9. Market Revenue and Forecast, by Benefit Level

13.3.10. Japan

13.3.10.1. Market Revenue and Forecast, by Type of Coverage

13.3.10.2. Market Revenue and Forecast, by Size of Group

13.3.10.3. Market Revenue and Forecast, by Industry Sector

13.3.10.4. Market Revenue and Forecast, by Premium Payment Methods

13.3.10.5. Market Revenue and Forecast, by Benefit Level

13.3.11. Rest of APAC

13.3.11.1. Market Revenue and Forecast, by Type of Coverage

13.3.11.2. Market Revenue and Forecast, by Size of Group

13.3.11.3. Market Revenue and Forecast, by Industry Sector

13.3.11.4. Market Revenue and Forecast, by Premium Payment Methods

13.3.11.5. Market Revenue and Forecast, by Benefit Level

13.4. MEA

13.4.1. Market Revenue and Forecast, by Type of Coverage

13.4.2. Market Revenue and Forecast, by Size of Group

13.4.3. Market Revenue and Forecast, by Industry Sector

13.4.4. Market Revenue and Forecast, by Premium Payment Methods

13.4.5. Market Revenue and Forecast, by Benefit Level

13.4.6. GCC

13.4.6.1. Market Revenue and Forecast, by Type of Coverage

13.4.6.2. Market Revenue and Forecast, by Size of Group

13.4.6.3. Market Revenue and Forecast, by Industry Sector

13.4.6.4. Market Revenue and Forecast, by Premium Payment Methods

13.4.7. Market Revenue and Forecast, by Benefit Level

13.4.8. North Africa

13.4.8.1. Market Revenue and Forecast, by Type of Coverage

13.4.8.2. Market Revenue and Forecast, by Size of Group

13.4.8.3. Market Revenue and Forecast, by Industry Sector

13.4.8.4. Market Revenue and Forecast, by Premium Payment Methods

13.4.9. Market Revenue and Forecast, by Benefit Level

13.4.10. South Africa

13.4.10.1. Market Revenue and Forecast, by Type of Coverage

13.4.10.2. Market Revenue and Forecast, by Size of Group

13.4.10.3. Market Revenue and Forecast, by Industry Sector

13.4.10.4. Market Revenue and Forecast, by Premium Payment Methods

13.4.10.5. Market Revenue and Forecast, by Benefit Level

13.4.11. Rest of MEA

13.4.11.1. Market Revenue and Forecast, by Type of Coverage

13.4.11.2. Market Revenue and Forecast, by Size of Group

13.4.11.3. Market Revenue and Forecast, by Industry Sector

13.4.11.4. Market Revenue and Forecast, by Premium Payment Methods

13.4.11.5. Market Revenue and Forecast, by Benefit Level

13.5. Latin America

13.5.1. Market Revenue and Forecast, by Type of Coverage

13.5.2. Market Revenue and Forecast, by Size of Group

13.5.3. Market Revenue and Forecast, by Industry Sector

13.5.4. Market Revenue and Forecast, by Premium Payment Methods

13.5.5. Market Revenue and Forecast, by Benefit Level

13.5.6. Brazil

13.5.6.1. Market Revenue and Forecast, by Type of Coverage

13.5.6.2. Market Revenue and Forecast, by Size of Group

13.5.6.3. Market Revenue and Forecast, by Industry Sector

13.5.6.4. Market Revenue and Forecast, by Premium Payment Methods

13.5.7. Market Revenue and Forecast, by Benefit Level

13.5.8. Rest of LATAM

13.5.8.1. Market Revenue and Forecast, by Type of Coverage

13.5.8.2. Market Revenue and Forecast, by Size of Group

13.5.8.3. Market Revenue and Forecast, by Industry Sector

13.5.8.4. Market Revenue and Forecast, by Premium Payment Methods

13.5.8.5. Market Revenue and Forecast, by Benefit Level

Chapter 14. Company Profiles

14.1. Allianz

14.1.1. Company Overview

14.1.2. Product Offerings

14.1.3. Financial Performance

14.1.4. Recent Initiatives

14.2. Cigna

14.2.1. Company Overview

14.2.2. Product Offerings

14.2.3. Financial Performance

14.2.4. Recent Initiatives

14.3. American National

14.3.1. Company Overview

14.3.2. Product Offerings

14.3.3. Financial Performance

14.3.4. Recent Initiatives

14.4. Ping An Insurance

14.4.1. Company Overview

14.4.2. Product Offerings

14.4.3. Financial Performance

14.4.4. Recent Initiatives

14.5. Allstate

14.5.1. Company Overview

14.5.2. Product Offerings

14.5.3. Financial Performance

14.5.4. Recent Initiatives

14.6. Axa

14.6.1. Company Overview

14.6.2. Product Offerings

14.6.3. Financial Performance

14.6.4. Recent Initiatives

14.7. UnitedHealth Group

14.7.1. Company Overview

14.7.2. Product Offerings

14.7.3. Financial Performance

14.7.4. Recent Initiatives

14.8. Berkshire Hathaway

14.8.1. Company Overview

14.8.2. Product Offerings

14.8.3. Financial Performance

14.8.4. Recent Initiatives

14.9. MassMutual

14.9.1. Company Overview

14.9.2. Product Offerings

14.9.3. Financial Performance

14.9.4. Recent Initiatives

14.10. Aditya Birla Sun Life Insurance

14.10.1. Company Overview

14.10.2. Product Offerings

14.10.3. Financial Performance

14.10.4. Recent Initiatives

Chapter 15. Research Methodology

15.1. Primary Research

15.2. Secondary Research

15.3. Assumptions

Chapter 16. Appendix

16.1. About Us

16.2. Glossary of Terms

For questions or customization requests, please reach out to us at sales@precedenceresearch.com

Frequently Asked Questions

The global group life insurance market size is expected to grow from USD 148.72 billion in 2024 to USD 405.10 billion by 2034.

The group life insurance market is anticipated to grow at a CAGR of 10.54% between 2025 and 2034.

The major players operating in the group life insurance market are Allianz, Cigna, American National, Ping An Insurance, Allstate, Axa, UnitedHealth Group, Berkshire Hathaway, MassMutual, Aditya Birla Sun Life Insurance, MetLife, Centene, Humana Inc, Elevance Health, and Others.

The driving factors of the group life insurance market is, it provides an employee and their families with an essential assurance which can provide them with a reliable financial support system in their time of need.

North America region will lead the global group life insurance market during the forecast period 2025 to 2034.

Ask For Sample

No cookie-cutter, only authentic analysis – take the 1st step to become a Precedence Research client